Note 11 - Business Segments

9 Months Ended

Sep. 30, 2013

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

(11)   Business Segments

We have seven operating segments that have been aggregated into two reporting segments (Truckload and Logistics) for financial reporting purposes. The primary source of our operating revenue is truckload revenue, which we generate by transporting freight for our customers and report within our Truckload segment. Generally, we are paid by the mile for our services. We also derive truckload revenue from fuel surcharges, loading and unloading activities, equipment detention and other ancillary services.

Our operating revenue also includes revenue reported within our Logistics segment, which consists of revenue from our internal brokerage and intermodal operations, and through our 45% interest in MWL, a third-party provider of logistics services to the transportation industry, until we deconsolidated MWL effective March 28, 2013. Brokerage services involve arranging for another company to transport freight for our customers while we retain the billing, collection and customer management responsibilities. Intermodal services involve the transport of our trailers on railroad flatcars for a portion of a trip, with the balance of the trip using our tractors or, to a lesser extent, contracted carriers.

The following table sets forth for the periods indicated our operating revenue and operating income by segment. We do not prepare separate balance sheets by segment and, as a result, assets are not separately identifiable by segment.

	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars in thousands)	2013		2012		2013		2012
Operating revenue:
Truckload revenue, net of fuel surcharge revenue	$	103,145	$	96,938	$	298,106	$	280,284
Truckload fuel surcharge revenue		27,135		25,931		80,760		77,305
Total Truckload revenue		130,280		122,869		378,866		357,589
Logistics revenue, net of intermodal fuel surcharge revenue(1)		31,397		36,408		98,878		102,889
Intermodal fuel surcharge revenue		5,426		4,329		15,246		11,566
Total Logistics revenue		36,823		40,737		114,124		114,455
Total operating revenue	$	167,103	$	163,606	$	492,990	$	472,044
Operating income:
Truckload	$	12,267	$	7,938	$	33,643	$	26,039
Logistics		1,386		1,902		5,669		6,603
Total operating income	$	13,653	$	9,840	$	39,312	$	32,642

(1) Logistics revenue is net of $2.1 million of inter-segment revenue in the nine-month period ended September 30, 2013 for loads transported by our tractors and arranged by MWL prior to the deconsolidation of MWL effective March 28, 2013. Such revenue has been eliminated in consolidation. Inter-segment revenue was $2.3 million and $7.2 million for the three-month and nine-month periods ended September 30, 2012.

Truckload segment depreciation expense was $15.0 million and $14.3 million, and Logistics segment depreciation expense was $1.3 million and $1.2 million, in the three-month periods ended September 30, 2013 and September 30, 2012, respectively. Truckload segment depreciation expense was $44.5 million and $42.0 million, and Logistics segment depreciation expense was $3.7 million and $3.1 million, in the first nine months of 2013 and 2012, respectively.