mrtn20161231

Significant Accounting Policies [Text Block]

Summary of Significant Accounting Policies

Nature of business:

Marten Transport, Ltd. is

one

of the leading temperature-sensitive truckload carriers in the United States. We specialize in transporting and distributing food and other consumer packaged goods that require a temperature-controlled or insulated environment, along with dry freight, across the United States and into and out of Mexico and Canada.

Principles of consolidation:

The accompanying consolidated financial statements include Marten Transport, Ltd. and its subsidiaries. All intercompany accounts and transactions are eliminated upon consolidation.

Cash and cash equivalents:

Cash in excess of current operating requirements is invested in short-term, highly liquid investments. We consider all highly liquid investments purchased with original maturities of

three

months or less to be cash equivalents. Changes in accounts at banks with an aggregate excess of the amount of checks issued over cash balances are included as a financing activity in the accompanying consolidated statements of cash flows.

Trade accounts receivable:

Trade accounts receivable are recorded at the invoiced amounts, net of an allowance for doubtful accounts. A considerable amount of judgment is required in assessing the realization of these receivables including the current creditworthiness of each customer and related aging of the past-due balances, including any billing disputes. In order to assess the collectibility of these receivables, we perform ongoing credit evaluations of our customers’ financial condition. Through these evaluations, we

may

become aware of a situation where a customer

may

not be able to meet its financial obligations due to deterioration of its financial viability, credit ratings or bankruptcy. The allowance for doubtful accounts is based on the best information available to us and is reevaluated and adjusted as additional information is received. We evaluate the allowance based on historical write-off experience, the size of the individual customer balances, past-due amounts and the overall national economy. We review the adequacy of our allowance for doubtful accounts monthly. Invoice balances over

days after the contractual due date are considered past due per our policy and are reviewed individually for collectibility. Initial payments by new customers are monitored for compliance with contractual terms. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential recovery is considered remote.

Property and equipment:

Additions and improvements to property and equipment are capitalized at cost. Maintenance and repair expenditures are charged to operations. Gains and losses on disposals of revenue equipment are included in operations as they are a normal, recurring component of our operations.

	Years
Tractors		5
Trailers		7
Service and other equipment	3	-	15
Buildings and improvements	20	-	40

2016,

we replaced our company-owned tractors within an average of

4.2

years and our trailers within an average of

5.3

years after purchase. Our useful lives for depreciating tractors is

five

years and for trailers is

seven

years, with a

25%

salvage value for tractors and a

35%

salvage value for trailers. These salvage values are based upon the expected market values of the equipment after

five

years for tractors and

seven

years for trailers. Depreciation expense calculated in this manner approximates the continuing declining value of the revenue equipment, and continues at a consistent straight-line rate for units held beyond the normal replacement cycle.

Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset

may

not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future net undiscounted cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value less the costs to sell.

Tires in service:

The cost of original equipment and replacement tires placed in service is capitalized. Amortization is calculated based on cost, less estimated salvage value, using the straight-line method over

months. Tire amortization, which is included within supplies and maintenance in our consolidated statements of operations, was

$6.9

million in

2016,

$6.3

million in

2015

and

$5.7

million in

2014.

The current portion of capitalized tires in service is included in prepaid expenses and other in the accompanying consolidated balance sheets. The long-term portion of capitalized tires in service and the estimated salvage value are included in revenue equipment in the accompanying consolidated balance sheets. The cost of recapping tires is charged to operations as incurred.

Income taxes:

Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. We have reflected the necessary deferred tax assets and liabilities in the accompanying consolidated balance sheets. We believe the future tax deductions will be realized principally through future reversals of existing taxable temporary differences and future taxable income.

50%

likelihood of being realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. For those income tax positions where it is not more-likely-than-not that a tax benefit will be sustained,

tax benefit has been recognized in the financial statements. Potential accrued interest and penalties related to unrecognized tax benefits are recognized as a component of income tax expense.

Insurance and claims:

We self-insure, in part, for losses relating to workers’ compensation, auto liability, general liability, cargo, and property damage claims, along with employees’ health insurance with varying risk retention levels. We are responsible for the

first

$1.0

million on each auto liability claim. We are also responsible for the

first

$750,000

on each workers’ compensation claim. We maintain insurance coverage for per-incident and total losses in excess of these risk retention levels in amounts we consider adequate based upon historical experience and our ongoing review. We reserve currently for the estimated cost of the uninsured portion of pending claims, including legal costs. These reserves are periodically evaluated and adjusted based on our evaluation of the nature and severity of outstanding individual claims and an estimate of future claims development based on historical development. Under agreements with our insurance carriers and regulatory authorities, we have

$11.2

million in standby letters of credit to guarantee settlement of claims.

Revenue recognition:

We record revenue and related expenses on the date shipment of freight is completed. Our largest customer, Wal-Mart, accounted for

17%

of our revenue in

2016

and

17%

of our trade receivables as of

December

31,

2016,

and

13%

of our revenue in

2015

and

12%

of our trade receivables as of

December

31,

2015.

Our largest customer accounted for

of our revenue in

2014.

During each of

2016,

2015

and

2014,

approximately

99%

of our revenue was generated within the United States.

Share-based payment arrangement compensation:

Under our stock incentive plans, all of our employees and any subsidiary employees, as well as all of our non-employee directors,

may

be granted stock-based awards, including incentive and non-statutory stock options and performance unit awards. We account for share-based payment arrangements in accordance with FASB ASC

718,

Compensation-Stock Compensation

, which requires all share-based payments to employees and non-employee directors, including grants of employee stock options and performance unit awards, to be recognized in the income statement based on their fair values at the date of grant.

Earnings per common share:

Basic earnings per common share is computed by dividing net income by the weighted average number of common shares outstanding during the year. Diluted earnings per common share is computed by dividing net income by the sum of the weighted average number of common shares outstanding plus all additional common shares that would have been outstanding if potentially dilutive common shares related to stock options and performance unit awards had been issued using the treasury stock method.

Segment reporting:

We report our operating segments in accordance with accounting standards codified in FASB ASC

280,

Segment Reporting

. We have

five

current operating segments that are aggregated into

four

reporting segments (Truckload, Dedicated, Intermodal and Brokerage) for financial reporting purposes. See Note

for more information.

Use of estimates:

We must make estimates and assumptions to prepare the consolidated financial statements in conformity with U.S. generally accepted accounting principles. These estimates and assumptions affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities in the consolidated financial statements and the reported amount of revenue and expenses during the reporting period. These estimates are primarily related to insurance and claims accruals and depreciation. Ultimate results could differ from these estimates.

Recent accounting pronouncements:

May

2014,

the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update No.

2014

09,

“Revenue from Contracts with Customers” which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The standard, which is effective for the

first

quarter of

2018,

will replace most existing revenue recognition guidance required by U.S. generally accepted accounting principles and will require additional disclosures. We have completed our evaluation of the requirements of the new guidance and have determined that our current policy in which we record revenue and related expenses on the date shipment of freight is completed, and in which we account for revenue of our Intermodal and Brokerage segments and revenue on freight transported by independent contractors within our Truckload and Dedicated segments on a gross basis, is also appropriate under the new guidance. As a result, the adoption of this standard is not expected to have a significant impact on our consolidated balance sheets, statements of operations or statements of cash flows.

February

2016,

the FASB issued Accounting Standards Update No.

2016

02,

“Leases” which requires organizations that lease assets to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases. The new guidance also requires additional disclosures related to leasing transactions. The standard is effective for the

first

quarter of

2019.

The adoption of this standard is not expected to have a significant impact on our consolidated balance sheets, statements of operations or statements of cash flows.

March

2016,

the FASB issued Accounting Standards Update No.

2016

09,

“Compensation - Stock Compensation: Improvements to Employee Share-Based Payment Accounting” which simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows. The standard is effective for the

first

quarter of

2017.

The adoption of this standard will result in an increase or decrease to our provision for income taxes each quarter based on the actual increase in our stock price compared with the grant-date fair value of the quarter’s exercised options and vested performance unit awards. The adoption of the other provisions of this standard is not expected to have a significant impact on our consolidated balance sheets, statements of operations or statements of cash flows.

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Note 2 - Details of Consolidated Balance Sheet Accounts

12 Months Ended

Dec. 31, 2016

Supplemental Balance Sheet Disclosures [Text Block]

Details of Consolidated Balance Sheet Accounts

Prepaid expenses and other:

As of

December

31,

prepaid expenses and other consisted of the following:

(In thousands)	20 16		2015
Tires in service	$	5,351	$	5,064
License fees		5,042		4,921
Parts and tires inventory		4,350		4,011
Insurance premiums		1,658		1,730
Other		2,906		2,408
	$	19,307	$	18,134

Accrued liabilities:

As of

December

31,

accrued liabilities consisted of the following:

(In thousands)	201 6		2015
Accrued expenses	$	12,903	$	7,940
Vacation		5,353		4,782
Accrued liability to MWL		3,026		4,284
Salaries and wages		1,839		2,644
Other		3,718		1,984
	$	26,839	$	21,634

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Note 3 - Long-term Debt	12 Months Ended
Note 3 - Long-term Debt	Dec. 31, 2016
Notes to Financial Statements
Debt Disclosure [Text Block]	3. Long-Term Debt We maintain a credit agreement that provides for an unsecured committed credit facility which matures in December 2019. In November 2015, we entered into an amendment to the facility which increased the aggregate principal amount of the facility from $50.0 million to $75.0 million. In April 2016, we elected to reduce the aggregate principal amount of the facility to $30.0 million. In December 2016, we entered into an amendment to the facility which increased the aggregate principal amount to $40.0 million. At December 31, 2016, there was an outstanding principal balance of $7.9 million on the facility. As of that date, we had outstanding standby letters of credit to guarantee settlement of self-insurance claims of $11.2 million and remaining borrowing availability of $20.9 million. At December 31, 2015, there was an outstanding principal balance of $37.9 million on the facility. This facility bears interest at a variable rate based on the London Interbank Offered Rate or the lender’s Prime Rate, in each case plus/minus applicable margins. The weighted average interest rate for the facility was 1.46% at December 31, 2016. Our credit facility prohibits us from paying, in any fiscal year, stock redemptions and dividends in excess of 25% of our net income from the prior fiscal year. A waiver of the 25% limitation for 2015 and 2016 was obtained from the lender. This facility also contains restrictive covenants which, among other matters, require us to maintain compliance with cash flow leverage and fixed charge coverage ratios. We were in compliance with all covenants at December 31, 2016 and 2015.

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Note 4 - Related Party Transactions	12 Months Ended
Note 4 - Related Party Transactions	Dec. 31, 2016
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	4. Related Party Transactions The following related party transactions occurred during the three years ended December 31, 2016; (a) We purchase fuel and tires and obtain related services from a company in which one of our directors is the chairman of the board, chief executive officer and the principal stockholder. We paid that company $361,000 in 2016, $335,000 in 2015 and $562,000 in 2014 for fuel, tires and related services. In addition, we paid $2.0 million in 2016, $1.5 million in 2015 and $1.4 million in 2014 to tire manufacturers for tires that were provided by the same company. The same company received commissions from the tire manufacturers related to these purchases. We did not have any payables to that company as of December 31, 2016 or 2015. (b) We provide transportation services to MWL as described in Note 10.

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Note 5 - Income Taxes

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Text Block]

Income Taxes

The components of the provision for income taxes consisted of the following:

(In thousands)	201 6		2015		2014
Current:
Federal	$	8,987	$	9,280	$	10,402
State		1,125		946		2,015
		10,112		10,226		12,417

Deferred:
Federal		12,427		13,042		8,648
State		1,063		1,678		774
		13,490		14,720		9,422
Total provision	$	23,602	$	24,946	$	21,839

The statutory federal income tax rate is reconciled to the effective income tax rate as follows:

	201 6			2015			2014
Statutory federal income tax rate		35	%		35	%		35	%
Per diem and other non-deductible expenses		4			3			4
Increase in taxes arising from state income taxes, net of federal income tax benefit		2			3			3
Effective tax rate		41	%		41	%		42	%

As of

December

31,

the net deferred tax liability consisted of the following:

(In thousands)	201 6		2015
Deferred tax assets:
Reserves and accrued liabilities	$	8,490	$	7,219
Other		2,757		2,721
		11,247		9,940
Deferred tax liabilities:
Depreciation		155,936		141,255
Prepaid expenses		3,165		3,049
		159,101		144,304
Net deferred tax liability	$	147,854	$	134,364

We have not provided a valuation allowance against deferred tax assets at

December

31,

2016

2015.

We believe the deferred tax assets will be realized principally through future reversals of existing taxable temporary differences (deferred tax liabilities) and future taxable income.

Our reserves for unrecognized tax benefits were

$536,000

as of

December

31,

2016

and

$683,000

as of

December

31,

2015.

The

$147,000

decrease in the amount reserved in

2016

relates to current period tax positions offset by the removal of the reserve relating to

2011

tax positions. The amount reserved as of

December

31,

2015

was added in

2011

through

2015

relating to current period tax positions. If recognized,

$349,000

of the unrecognized tax benefits as of

December

31,

2016

would impact our effective tax rate. Potential interest and penalties related to unrecognized tax benefits of

$59,000

and

$91,000

were recognized in our financial statements as of

December

31,

2016

and

2015,

respectively. We do not expect the reserves for unrecognized tax benefits to change significantly within the next

twelve

months. The federal statute of limitations remains open for

2013

and forward. We file tax returns in numerous state jurisdictions with varying statutes of limitations.

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Note 6 - Earnings Per Common Share

12 Months Ended

Dec. 31, 2016

Earnings Per Share [Text Block]

Earnings p

er Common Share

Basic and diluted earnings per common share were computed as follows:

(In thousands, except per share amounts)	20 16		2015		2014
Numerator:
Net income	$	33,464	$	35,745	$	29,834
Denominator:
Basic earnings per common share - weighted-average shares		32,506		33,477		33,381
Effect of dilutive stock options		171		238		297
Diluted earnings per common share - weighted-average shares and assumed conversions		32,677		33,715		33,678
Basic earnings per common share	$	1.03	$	1.07	$	0.89
Diluted earnings per common share	$	1.02	$	1.06	$	0.89

Options totaling

338,900,

325,400

and

176,500

equivalent shares were outstanding but were not included in the calculation of diluted earnings per share for

2016,

2015

and

2014,

respectively, because including the options in the denominator would be antidilutive, or decrease the number of weighted-average shares, due to their exercise prices exceeding the average market price of the common shares, or because inclusion of average unrecognized compensation expense in the calculation would cause the options to be antidilutive.

Unvested performance unit awards (see Note

11)

totaling

38,497,

69,655

and

39,885

equivalent shares for

2016,

2015

and

2014,

respectively, were considered outstanding but were not included in the calculation of diluted earnings per share because inclusion of average unrecognized compensation expense in the calculation would cause the performance units to be antidilutive.

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Note 7 - Share Repurchase Program	12 Months Ended
Note 7 - Share Repurchase Program	Dec. 31, 2016
Notes to Financial Statements
Treasury Stock [Text Block]	7 . Share Repurchase Program In December 2007, our Board of Directors approved and we announced a share repurchase program to repurchase up to one million shares of our common stock either through purchases on the open market or through private transactions and in accordance with Rule 10b - 18 of the Exchange Act. In November 2015, our Board of Directors approved and we announced an increase in the share repurchase program, providing for the repurchase of up to $40 million, or approximately 2 million shares, of our common stock. The timing and extent to which we repurchase shares depends on market conditions and other corporate considerations. The repurchase program does not have an expiration date. We repurchased and retired 455,581 shares of our common stock for $7.5 million in the first quarter of 2016 and did not repurchase any shares in the last three quarters of 2016. In the fourth quarter of 2015 we repurchased and retired 941,024 shares of our common stock for $16.2 million.

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Note 8 - Dividends	12 Months Ended
Note 8 - Dividends	Dec. 31, 2016
Notes to Financial Statements
Dividends [Text Block]	8. Dividends In 2010, we announced that our Board of Directors approved a regular cash dividend program to our stockholders, subject to approval each quarter. Quarterly cash dividends of $ 0.025 per share of common stock were declared in each quarter of 2016, 2015 and 2014, and totaled $3.3 million in each of the three years respectively. Our ability to pay cash dividends is currently limited by restrictions contained in our revolving credit facility, which prohibits us from paying, in any fiscal year, stock redemptions and dividends in excess of 25% of our net income from the prior fiscal year. A waiver of the 25% limitation for 2015 and 2016 was obtained from the lender.

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Note 9 - Amendment to Amended and Restated Certificate of Incorporation	12 Months Ended
	Dec. 31, 2016
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	9 . Amendment to Amended and Restated Certificate of Incorporation In May 2015, our stockholders approved an amendment to our Amended and Restated Certificate of Incorporation increasing the authorized number of shares of common stock, $.01 par value per share, from 48,000,000 shares to 96,000,000 shares.

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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Note 10 - Equity Investment	12 Months Ended
Note 10 - Equity Investment	Dec. 31, 2016
Notes to Financial Statements
Business Combination Disclosure [Text Block]	10. Equity Investment We own a 45% equity interest in MWL, a third -party provider of logistics services to the transportation industry. A non-related party owns the other 55% equity interest in MWL. We account for our ownership interest in MWL under the equity method of accounting. We received $1.2 million, $5.0 million and $8.5 million of our revenue for loads transported by our tractors and arranged by MWL in 2016, 2015 and 2014, respectively. As of December 31, 2016, we also had a trade receivable in the amount of $55,000 from MWL and an accrued liability of $3.0 million to MWL for the excess of payments by MWL’s customers into our lockbox account over the amounts drawn on the account by MWL.

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

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Note 11 - Employee Benefits

12 Months Ended

Dec. 31, 2016

Compensation and Employee Benefit Plans [Text Block]

. Employee Benefits

Equity

Incentive Plans

- In

May

2015,

our stockholders approved our

2015

Equity Incentive Plan (the

“2015

Plan”). Our Board of Directors adopted the

2015

Plan in

March

2015.

Under our

2015

Plan, all of our employees and any subsidiary employees, as well as all of our non-employee directors,

may

be granted stock-based awards, including non-statutory stock options, performance unit awards and shares of common stock, of which

304,251

shares have been awarded as of

December

31,

2016.

Stock options expire within

years after the date of grant and the exercise price must be at least the fair market value of our common stock on the date of grant. Stock options issued to employees are generally exercisable beginning

one

year from the date of grant in cumulative amounts of

20%

per year. Performance unit awards are subject to vesting requirements over a

five

-year period, primarily based on our earnings growth. Options exercised and performance unit award shares issued represent newly issued shares. The maximum number of shares of common stock available for issuance under the

2015

Plan is

800,000

shares. As of

December

31,

2016,

there were

192,000

shares reserved for issuance under options outstanding and

94,671

shares reserved for issuance under outstanding performance unit awards under the

2015

Plan. The

2015

Plan replaces our

2005

Stock Incentive Plan (the

“2005

Plan”), which expired by its terms in

May

2015.

Under the

2005

Plan, officers, directors and employees were granted non-statutory stock options and performance unit awards with similar terms to the options and awards under the

2015

Plan. As of

December

31,

2016,

there were

361,750

shares reserved for issuance under options outstanding and

84,889

shares reserved for issuance under outstanding performance unit awards under the

2005

Plan, which will continue according to their terms. No additional awards will be granted under the

2005

Plan.

	20 16			2015			2014

Expected option life in years (1)		6.0			6.0			6.0
Expected stock price volatility percentage (2)		25	%		25	%		27	%
Risk-free interest rate percentage (3)		1.4	%		1.8	%		1.9	%
Expected dividend yield (4)		0.50	%		0.44	%		0.46	%
Fair value as of the date of grant	$	5.28		$	5.96		$	6.25

(1)

(2)	Expected stock price volatility – We use our stock’s historical volatility for the same period of time as the expected life. We have no reason to believe that its future volatility will differ from the past.

(3)	Risk-free interest rate – The rate is based on the U.S. Treasury yield curve in effect at the time of the grant for the same period of time as the expected life.

(4)	Expected dividend yield – The calculation is based on the total expected annual dividend payout divided by the average stock price.

six

months.

August

2010,

we granted

95,100

performance unit awards under our

2005

Stock Incentive Plan to certain employees. This was our

first

grant of such awards. As of

December

31,

2010

and each

December

thereafter through

December

31,

2014,

each award vested and became the right to receive a number of shares of common stock equal to a total vesting percentage multiplied by the number of units subject to such award. The total vesting percentage for each of the

five

years was equal to the sum of a performance vesting percentage, which was the percentage increase, if any, in our diluted net income per share for the year being measured over the prior year, and a service vesting percentage of

five

percentage points. The goal of the awards was to incentivize the certain employees to increase our earnings an average of

fifteen

percent per year over

five

years, which, when combined with the

five

percent per year service-based component, would result in full vesting over

five

years. The performance vesting percentage could be achieved earlier than in

five

years if annual earnings growth exceeded the average of

fifteen

percent, or not fully achieved if the annual earnings growth averaged less than

fifteen

percent over the

five

-year period. All payments were made in shares of our common stock. One half of the vested performance units were paid to the employees immediately upon vesting, with the other half being credited to the employees’ accounts within the Marten Transport, Ltd. Deferred Compensation Plan, which restricts the sale of vested shares to the later of each employee’s termination of employment or attainment of age

62.

August

2011,

we granted

62,400

performance unit awards with similar terms to the awards granted in

2010,

and which vested from

December

31,

2011

through

2015.

May

2012,

we granted

59,250

performance unit awards with similar terms to the awards previously granted, and which vested from

December

31,

2012

through

2016.

May

2013,

we granted

62,550

performance unit awards with similar terms to the awards previously granted, and which vest from

December

31,

2013

through

2017.

May

2014,

we granted

36,400

performance unit awards with similar terms to the awards previously granted, and also granted

11,000

performance unit awards with similar terms to such awards, except that all vested performance units will be paid to the employees immediately upon vesting. All awards granted in

2014

vest from

December

31,

2014

through

2018.

May

2015,

we granted

35,000

performance unit awards under our

2015

Equity Incentive Plan with similar terms to the awards previously granted, and also granted

19,500

performance unit awards with similar terms to such awards, except that all vested performance units will be paid to the employees immediately upon vesting. All awards granted in

2015

vest from

December

31,

2015

through

2019.

May

2016,

we granted

34,600

performance unit awards under our

2015

Equity Incentive Plan with similar terms to the awards previously granted, except that the calculation of vesting shares is based on our increase in net income instead of our increase in diluted net income per share. We also granted

13,000

performance unit awards in

May

2016

and

1,000

awards in

August

2016

with similar terms to such awards, except that all vested performance units will be paid to the employees immediately upon vesting. All awards granted in

2016

vest from

December

31,

2016

through

2020.

1.25%

of unvested outstanding awards will be forfeited each year. This analysis will be re-evaluated quarterly and the forfeiture rate will be adjusted as necessary. Ultimately, the actual expense recognized over the vesting period will only be for those shares that vest.

Total share-based compensation expense recorded in

2016

was

$883,000

($547,000

net of income tax benefit,

$0.02

of earnings per basic and diluted share), in

2015

was

$1.4

million

($870,000

net of income tax benefit,

$0.03

of earnings per basic and diluted share) and in

2014

was

$921,000

($571,000

net of income tax benefit,

$0.02

of earnings per basic and diluted share). All share-based compensation expense was recorded in salaries, wages and benefits expense.

2016,

2015

and

2014,

there was

$235,000,

$432,000

and

$115,000,

respectively, of excess tax benefits recognized resulting from exercises of options.

As of

December

31,

2016,

there was a total of

$1.3

million of unrecognized compensation expense related to unvested service-based option awards, which is expected to be recognized over a weighted-average period of

3.0

years, and

$2.6

million of unrecognized compensation expense related to unvested performance unit awards, which will be recorded based on the estimated number of units probable of achieving the vesting requirements of the awards through

2020.

Option activity in

2016

was as follows:

	Shares			Weighted Average Exercise Price
Outstanding at December 31, 2015		850,184		$	16.67
Granted		43,000			20.44
Exercised		(307,984	)		14.35
Forfeited		(31,450	)		17.68
Outstanding at December 31, 2016		553,750		$	18.24
Exercisable at December 31, 2016		287,100		$	16.03

The

553,750

options outstanding as of

December

31,

2016

have a weighted average remaining contractual life of

4.1

years and an aggregate intrinsic value based on our closing stock price on

December

31,

2016

for in-the-money options of

$2.8

million. The

287,100

options exercisable as of the same date have a weighted average remaining contractual life of

3.4

years and an aggregate intrinsic value similarly calculated of

$2.1

million.

The fair value of options granted in

2016,

2015

and

2014

was

$227,000,

$918,000

and

$475,000,

respectively, for service-based options. The total intrinsic value of options exercised in

2016,

2015

and

2014

was

$1.9

million,

$2.4

million and

$761,000,

respectively. Intrinsic value is the difference between the fair value of the acquired shares at the date of exercise and the exercise price, multiplied by the number of options exercised. Proceeds received from option exercises in

2016,

2015

and

2014

were

$4.4

million,

$3.5

million and

$1.2

million, respectively.

`Nonvested service-based option awards as of

December

31,

2016

and changes during

2016

were as follows:

	Shares			Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Life (in Years)
Nonvested at December 31, 2015		337,550		$	5.77		5.4
Granted		43,000			5.28		6.6
Vested		(94,650	)		5.64		4.0
Forfeited		(19,250	)		5.38		3.9
Nonvested at December 31, 2016		266,650		$	5.76		5.0

The total fair value of options which vested during

2016,

2015

and

2014

was

$534,000,

$502,000

and

$541,000,

respectively.

The following table summarizes our nonvested performance unit award activity in

2016:

	Shares				Weighted Average Grant Date Fair Value
Nonvested at December 31, 2015		141,445			$	18.76
Granted		48,600				18.73
Vested		(13,656	)	(1)		18.11
Forfeited		(24,578	)			14.83
Nonvested at December 31, 2016		151,811			$	19.44

(1)

This number of performance unit award shares vested based on our financial performance in

2016

and was distributed or credited to the Marten Transport, Ltd. Deferred Compensation Plan in

March

2017.

As permitted in the performance unit award agreements, the Compensation Committee of our Board of Directors adjusted the calculation of the performance vesting component for

2016

to be based on our increase in net income instead of our increase in diluted net income per share. Additionally, the after-tax value of the gain on disposition of facilities in

2015

was excluded from the calculation of the increase in net income in

2016

from

2015.

The fair value of unit award shares that vested in

2016

was

$247,000.

Retirement Savings Plan

- We sponsor a defined contribution retirement savings plan under Section

401(k)

of the Internal Revenue Code. Employees are eligible for the plan after

three

months of service. Participants are able to contribute up to the limit set by law, which in

2016

was

$18,000

for participants less than age

and

$24,000

for participants age

and above. We contribute

35%

of each participant’s contribution, up to a total of

contributed. Our contribution vests at the rate of

20%

per year for the

first

through

fifth

years of service. In addition, we

may

make elective contributions as determined by the Board of Directors.

elective contributions were made in

2016,

2015

2014.

Total expense recorded for the plan was

$2.1

million in

2016,

$1.9

million in

2015

and

$1.5

million in

2014.

Stock Purchase Plans

- An Employee Stock Purchase Plan and an Independent Contractor Stock Purchase Plan are sponsored to encourage employee and independent contractor ownership of our common stock. Eligible participants specify the amount of regular payroll or contract payment deductions and voluntary cash contributions that are used to purchase shares of our common stock. The purchases are made at the market price on the open market. We pay the broker’s commissions and administrative charges for purchases of common stock under the plans.

XML 31 R18.htm IDEA: XBRL DOCUMENT

Note 12 - Deferred Compensation Plan	12 Months Ended
Note 12 - Deferred Compensation Plan	Dec. 31, 2016
Notes to Financial Statements
Postemployment Benefits Disclosure [Text Block]	1 2 . Deferred Compensation Plan In August 2010, our Board of Directors approved and adopted the Marten Transport, Ltd. Deferred Compensation Plan. The deferred compensation plan is an unfunded, nonqualified deferred compensation plan designed to allow board elected officers and other select members of our management designated by our Compensation Committee to save for retirement on a tax-deferred basis. Under the terms of the plan, each participant is eligible to defer portions of their base pay, annual bonus, or receipt of common stock otherwise payable under a vested performance unit award. Each participant can elect a fixed distribution date for the participant’s deferral account other than certain required performance unit award deferrals credited to the discretionary account, which will be distributed after the later of the date of the participant’s termination of employment or the date the participant attains age 62. Upon termination of a participant’s employment with the company, the plan requires a lump-sum distribution of the deferral account, excluding the required performance unit award deferrals, unless the participant had elected an installment distribution. Upon a participant’s death, the plan provides that a participant’s distributions accelerate and will be paid in a lump sum to the participant’s beneficiary. We may terminate the plan and accelerate distributions to participants, but only to the extent and at the times permitted under the Internal Revenue Code. We may terminate the plan and accelerate distributions upon a change in control, which is not a payment event under the plan. In conjunction with the approval of the plan, our Board of Directors also adopted an amendment to the Marten Transport, Ltd. 2005 Stock Incentive Plan to allow for deferral of receipt of income from a performance unit award under the plan. Such deferral is also provided for within the Marten Transport, Ltd. 2015 Equity Incentive Plan. As of December 31, 2016, 96,310 shares of Company common stock were credited to account balances within the plan. These shares were required performance unit award deferrals of vested awards, and dividends earned on such shares.

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Note 13 - Fair Value of Financial Statements	12 Months Ended
Note 13 - Fair Value of Financial Statements	Dec. 31, 2016
Notes to Financial Statements
Fair Value Disclosures [Text Block]	13. Fair Value of Financial Instruments The carrying amounts of cash equivalents, accounts receivable and accounts payable approximate fair value because of the short maturity of these instruments. The carrying amount of our long-term debt approximates fair value as its interest rate is based upon prevailing market rates.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

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Note 14 - Commitments and Contingencies	12 Months Ended
Note 14 - Commitments and Contingencies	Dec. 31, 2016
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	1 4 . Commitments and Contingencies We are committed to purchase $50.7 million of new revenue equipment in 2017, along with building construction expenditures of $95,000 in 2017 and operating lease obligation expenditures totaling $430,000 through 2020. We self-insure, in part, for losses relating to workers’ compensation, auto liability, general liability, cargo and property damage claims, along with employees’ health insurance with varying risk retention levels. We maintain insurance coverage for per-incident and total losses in excess of these risk retention levels in amounts we consider adequate based upon historical experience and our ongoing review, and reserve currently for the estimated cost of the uninsured portion of pending claims. We are also involved in other legal actions that arise in the ordinary course of business. In the opinion of management, based upon present knowledge of the facts, it is remote that the ultimate outcome of any such legal actions will have a material adverse effect upon our long-term financial position or results of operations.

XML 34 R21.htm IDEA: XBRL DOCUMENT

Note 15 - Business Segments

12 Months Ended

Dec. 31, 2016

Segment Reporting Disclosure [Text Block]

Business Segments

We aggregate our

five

current operating segments into

four

reporting segments (Truckload, Dedicated, Intermodal and Brokerage) for financial reporting purposes.

three

five

years and are subject to annual rate reviews.

Our Intermodal segment transports our customers’ freight within the United States primarily utilizing our temperature-controlled trailers and also, through

March

2015,

our dry containers on railroad flatcars for portions of trips, with the balance of the trips using our tractors or, to a lesser extent, contracted carriers.

Our Brokerage segment develops contractual relationships with and arranges for

third

-party carriers to transport freight for our customers in temperature-controlled trailers and dry vans within the United States and into and out of Mexico through Marten Transport Logistics, LLC, which was established in

2007

and operates pursuant to brokerage authority granted by the DOT. We retain the billing, collection and customer management responsibilities.

( Dollars in thousands )	201 6		2015		2014
Operating revenue:
Truckload revenue, net of fuel surcharge revenue	$	339,967	$	348,101	$	358,458
Truckload fuel surcharge revenue		35,884		50,260		89,815
Total Truckload revenue		375,851		398,361		448,273

Dedicated revenue, net of fuel surcharge revenue		147,007		107,264		56,609
Dedicated fuel surcharge revenue		10,363		11,008		13,743
Total Dedicated revenue		157,370		118,272		70,352

Intermodal revenue, net of fuel surcharge revenue		64,508		65,877		75,447
Intermodal fuel surcharge revenue		6,982		11,081		21,645
Total Intermodal revenue		71,490		76,958		97,092

Brokerage revenue		66,433		71,403		57,212

Total operating revenue	$	671,144	$	664,994	$	672,929

Operating income:
Truckload	$	27,438	$	35,517	$	39,483
Dedicated		19,550		12,818		7,136
Intermodal		7,131		4,832		1,735
Brokerage		4,184		3,792		2,652
Total operating income before gain on disposition of facilities		58,303		56,959		51,006
Gain on disposition of facilities		-		4,104		-
Total operating income	$	58,303	$	61,063	$	51,006

Truckload segment depreciation expense was

$56.2

million,

$53.7

million and

$53.0

million, Dedicated segment depreciation expense was

$20.6

million,

$15.0

million and

$8.2

million, Intermodal segment depreciation expense was

$3.9

million,

$5.4

million and

$6.0

million, and Brokerage segment depreciation expense was

$1.7

million,

$1.3

million and

$993,000,

2016,

2015

and

2014,

respectively.

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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XML 35 R22.htm IDEA: XBRL DOCUMENT

Note 16 - Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2016

Quarterly Financial Information [Text Block]

. Quarterly Financial Data (Unaudited)

The following is a summary of the quarterly results of operations for

2016

and

2015:

20 16 Quarters (In thousands, except per share amounts)	First		Second		Third		Fourth
Operating revenue	$	161,929	$	166,090	$	170,464	$	172,661
Operating income		14,125		14,776		14,869		14,533
Net income		8,193		8,531		8,437		8,303
Basic earnings per common share		0.25		0.26		0.26		0.25
Diluted earnings per common share		0.25		0.26		0.26		0.25

2015 Quarters ( In thousands, except per share amounts)	First		Second		Third		Fourth
Operating revenue	$	161,287	$	163,588	$	171,346	$	168,773
Operating income		17,311		14,161		14,354		15,237
Net income		10,188		8,357		8,410		8,790
Basic earnings per common share		0.30		0.25		0.25		0.26
Diluted earnings per common share		0.30		0.25		0.25		0.26

The sum of the basic earnings per common share for the

2015

and

2016

quarters is less than the basic earnings per common share for each of

2015

and

2016

due to differences in rounding.

XML 36 R23.htm IDEA: XBRL DOCUMENT

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2016

Accounting Policies [Abstract]

Consolidation, Policy [Policy Text Block]

Principles of consolidation:

The accompanying consolidated financial statements include Marten Transport, Ltd. and its subsidiaries. All intercompany accounts and transactions are eliminated upon consolidation.

Cash and Cash Equivalents, Policy [Policy Text Block]

Cash and cash equivalents:

Cash in excess of current operating requirements is invested in short-term, highly liquid investments. We consider all highly liquid investments purchased with original maturities of

three

Receivables, Policy [Policy Text Block]

Trade accounts receivable:

may

become aware of a situation where a customer

may

Property, Plant and Equipment, Policy [Policy Text Block]

Property and equipment:

	Years
Tractors		5
Trailers		7
Service and other equipment	3	-	15
Buildings and improvements	20	-	40

2016,

we replaced our company-owned tractors within an average of

4.2

years and our trailers within an average of

5.3

years after purchase. Our useful lives for depreciating tractors is

five

years and for trailers is

seven

years, with a

25%

salvage value for tractors and a

35%

salvage value for trailers. These salvage values are based upon the expected market values of the equipment after

five

years for tractors and

seven

Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset

may

Tires In Service [Policy Text Block]

Tires in service:

The cost of original equipment and replacement tires placed in service is capitalized. Amortization is calculated based on cost, less estimated salvage value, using the straight-line method over

months. Tire amortization, which is included within supplies and maintenance in our consolidated statements of operations, was

$6.9

million in

2016,

$6.3

million in

2015

and

$5.7

million in

2014.

Income Tax, Policy [Policy Text Block]

Income taxes:

50%

tax benefit has been recognized in the financial statements. Potential accrued interest and penalties related to unrecognized tax benefits are recognized as a component of income tax expense.

Internal Replacements of Insurance Contracts, Policy [Policy Text Block]

Insurance and claims:

first

$1.0

million on each auto liability claim. We are also responsible for the

first

$750,000

$11.2

million in standby letters of credit to guarantee settlement of claims.

Revenue Recognition, Policy [Policy Text Block]

Revenue recognition:

We record revenue and related expenses on the date shipment of freight is completed. Our largest customer, Wal-Mart, accounted for

17%

of our revenue in

2016

and

17%

of our trade receivables as of

December

31,

2016,

and

13%

of our revenue in

2015

and

12%

of our trade receivables as of

December

31,

2015.

Our largest customer accounted for

of our revenue in

2014.

During each of

2016,

2015

and

2014,

approximately

99%

of our revenue was generated within the United States.

Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]

Share-based payment arrangement compensation:

Under our stock incentive plans, all of our employees and any subsidiary employees, as well as all of our non-employee directors,

may

be granted stock-based awards, including incentive and non-statutory stock options and performance unit awards. We account for share-based payment arrangements in accordance with FASB ASC

718,

Compensation-Stock Compensation

Earnings Per Share, Policy [Policy Text Block]

Earnings per common share:

Segment Reporting, Policy [Policy Text Block]

Segment reporting:

We report our operating segments in accordance with accounting standards codified in FASB ASC

280,

Segment Reporting

. We have

five

current operating segments that are aggregated into

four

reporting segments (Truckload, Dedicated, Intermodal and Brokerage) for financial reporting purposes. See Note

for more information.

Use of Estimates, Policy [Policy Text Block]

Use of estimates:

New Accounting Pronouncements, Policy [Policy Text Block]

Recent accounting pronouncements:

May

2014,

the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update No.

2014

09,

first

quarter of

2018,

February

2016,

the FASB issued Accounting Standards Update No.

2016

02,

first

quarter of

2019.

The adoption of this standard is not expected to have a significant impact on our consolidated balance sheets, statements of operations or statements of cash flows.

March

2016,

the FASB issued Accounting Standards Update No.

2016

09,

first

quarter of

2017.

XML 37 R24.htm IDEA: XBRL DOCUMENT

Note 1 - Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2016

Property, Plant and Equipment [Table Text Block]

	Years
Tractors		5
Trailers		7
Service and other equipment	3	-	15
Buildings and improvements	20	-	40

XML 38 R25.htm IDEA: XBRL DOCUMENT

Note 2 - Details of Consolidated Balance Sheet Accounts (Tables)

12 Months Ended

Dec. 31, 2016

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block]

(In thousands)	20 16		2015
Tires in service	$	5,351	$	5,064
License fees		5,042		4,921
Parts and tires inventory		4,350		4,011
Insurance premiums		1,658		1,730
Other		2,906		2,408
	$	19,307	$	18,134

Schedule of Accrued Liabilities [Table Text Block]

(In thousands)	201 6		2015
Accrued expenses	$	12,903	$	7,940
Vacation		5,353		4,782
Accrued liability to MWL		3,026		4,284
Salaries and wages		1,839		2,644
Other		3,718		1,984
	$	26,839	$	21,634

XML 39 R26.htm IDEA: XBRL DOCUMENT

Note 5 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

(In thousands)	201 6		2015		2014
Current:
Federal	$	8,987	$	9,280	$	10,402
State		1,125		946		2,015
		10,112		10,226		12,417

Deferred:
Federal		12,427		13,042		8,648
State		1,063		1,678		774
		13,490		14,720		9,422
Total provision	$	23,602	$	24,946	$	21,839

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	201 6			2015			2014
Statutory federal income tax rate		35	%		35	%		35	%
Per diem and other non-deductible expenses		4			3			4
Increase in taxes arising from state income taxes, net of federal income tax benefit		2			3			3
Effective tax rate		41	%		41	%		42	%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

(In thousands)	201 6		2015
Deferred tax assets:
Reserves and accrued liabilities	$	8,490	$	7,219
Other		2,757		2,721
		11,247		9,940
Deferred tax liabilities:
Depreciation		155,936		141,255
Prepaid expenses		3,165		3,049
		159,101		144,304
Net deferred tax liability	$	147,854	$	134,364

XML 40 R27.htm IDEA: XBRL DOCUMENT

Note 6 - Earnings Per Common Share (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

(In thousands, except per share amounts)	20 16		2015		2014
Numerator:
Net income	$	33,464	$	35,745	$	29,834
Denominator:
Basic earnings per common share - weighted-average shares		32,506		33,477		33,381
Effect of dilutive stock options		171		238		297
Diluted earnings per common share - weighted-average shares and assumed conversions		32,677		33,715		33,678
Basic earnings per common share	$	1.03	$	1.07	$	0.89
Diluted earnings per common share	$	1.02	$	1.06	$	0.89

XML 41 R28.htm IDEA: XBRL DOCUMENT

Note 11 - Employee Benefits (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

	20 16			2015			2014

Expected option life in years (1)		6.0			6.0			6.0
Expected stock price volatility percentage (2)		25	%		25	%		27	%
Risk-free interest rate percentage (3)		1.4	%		1.8	%		1.9	%
Expected dividend yield (4)		0.50	%		0.44	%		0.46	%
Fair value as of the date of grant	$	5.28		$	5.96		$	6.25

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

	Shares			Weighted Average Exercise Price
Outstanding at December 31, 2015		850,184		$	16.67
Granted		43,000			20.44
Exercised		(307,984	)		14.35
Forfeited		(31,450	)		17.68
Outstanding at December 31, 2016		553,750		$	18.24
Exercisable at December 31, 2016		287,100		$	16.03

Schedule of Nonvested Share Activity [Table Text Block]

	Shares			Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Life (in Years)
Nonvested at December 31, 2015		337,550		$	5.77		5.4
Granted		43,000			5.28		6.6
Vested		(94,650	)		5.64		4.0
Forfeited		(19,250	)		5.38		3.9
Nonvested at December 31, 2016		266,650		$	5.76		5.0

Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]

	Shares				Weighted Average Grant Date Fair Value
Nonvested at December 31, 2015		141,445			$	18.76
Granted		48,600				18.73
Vested		(13,656	)	(1)		18.11
Forfeited		(24,578	)			14.83
Nonvested at December 31, 2016		151,811			$	19.44

XML 42 R29.htm IDEA: XBRL DOCUMENT

Note 15 - Business Segments (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of Segment Reporting Information, by Segment [Table Text Block]

( Dollars in thousands )	201 6		2015		2014
Operating revenue:
Truckload revenue, net of fuel surcharge revenue	$	339,967	$	348,101	$	358,458
Truckload fuel surcharge revenue		35,884		50,260		89,815
Total Truckload revenue		375,851		398,361		448,273

Dedicated revenue, net of fuel surcharge revenue		147,007		107,264		56,609
Dedicated fuel surcharge revenue		10,363		11,008		13,743
Total Dedicated revenue		157,370		118,272		70,352

Intermodal revenue, net of fuel surcharge revenue		64,508		65,877		75,447
Intermodal fuel surcharge revenue		6,982		11,081		21,645
Total Intermodal revenue		71,490		76,958		97,092

Brokerage revenue		66,433		71,403		57,212

Total operating revenue	$	671,144	$	664,994	$	672,929

Operating income:
Truckload	$	27,438	$	35,517	$	39,483
Dedicated		19,550		12,818		7,136
Intermodal		7,131		4,832		1,735
Brokerage		4,184		3,792		2,652
Total operating income before gain on disposition of facilities		58,303		56,959		51,006
Gain on disposition of facilities		-		4,104		-
Total operating income	$	58,303	$	61,063	$	51,006

XML 43 R30.htm IDEA: XBRL DOCUMENT

Note 16 - Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2016

Quarterly Financial Information [Table Text Block]

20 16 Quarters (In thousands, except per share amounts)	First		Second		Third		Fourth
Operating revenue	$	161,929	$	166,090	$	170,464	$	172,661
Operating income		14,125		14,776		14,869		14,533
Net income		8,193		8,531		8,437		8,303
Basic earnings per common share		0.25		0.26		0.26		0.25
Diluted earnings per common share		0.25		0.26		0.26		0.25

2015 Quarters ( In thousands, except per share amounts)	First		Second		Third		Fourth
Operating revenue	$	161,287	$	163,588	$	171,346	$	168,773
Operating income		17,311		14,161		14,354		15,237
Net income		10,188		8,357		8,410		8,790
Basic earnings per common share		0.30		0.25		0.25		0.26
Diluted earnings per common share		0.30		0.25		0.25		0.26

XML 44 R31.htm IDEA: XBRL DOCUMENT

Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Letters of Credit Outstanding, Amount	$ 11,200,000
Number of Operating Segments	5
Number of Reportable Segments	4
Sales Revenue, Net [Member] \| Customer Concentration Risk [Member] \| Walmart [Member]
Concentration Risk, Percentage	17.00%	13.00%	9.00%
Sales Revenue, Net [Member] \| Geographic Concentration Risk [Member] \| UNITED STATES
Concentration Risk, Percentage	99.00%
Accounts Receivable [Member] \| Customer Concentration Risk [Member] \| Walmart [Member]
Concentration Risk, Percentage	17.00%	12.00%
Uninsured Risk [Member] \| Auto Liability Claim [Member]
Loss Contingency Range Possible Loss Per Claim	$ 1,000,000
Uninsured Risk [Member] \| Workers Compensation Liability Claim [Member]
Loss Contingency Range Possible Loss Per Claim	750,000
Insurance Claims [Member]
Letters of Credit Outstanding, Amount	11,200,000
Supplies and Maintenance Costs [Member]
Amortization	$ 6,900,000	$ 6,300,000	$ 5,700,000
Tractor [Member]
Replacement Of Equipment Period After Purchase	4 years 73 days
Property, Plant and Equipment, Useful Life	5 years
Property, Plant and Equipment, Salvage Value, Percentage	25.00%
Trailer [Member]
Replacement Of Equipment Period After Purchase	5 years 109 days
Property, Plant and Equipment, Useful Life	7 years
Property, Plant and Equipment, Salvage Value, Percentage	35.00%
Tires In Service [Member]
Property, Plant and Equipment, Useful Life	2 years

XML 45 R32.htm IDEA: XBRL DOCUMENT

Note 1 - Estimated Useful Lives (Details)	12 Months Ended
Note 1 - Estimated Useful Lives (Details)	Dec. 31, 2016
Tractor [Member]
Property, Plant and Equipment, Useful Life	5 years
Trailer [Member]
Property, Plant and Equipment, Useful Life	7 years
Service And Other Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment, Useful Life	3 years
Service And Other Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment, Useful Life	15 years
Building and Building Improvements [Member] \| Minimum [Member]
Property, Plant and Equipment, Useful Life	20 years
Building and Building Improvements [Member] \| Maximum [Member]
Property, Plant and Equipment, Useful Life	40 years

XML 46 R33.htm IDEA: XBRL DOCUMENT

Note 2 - Prepaid Expenses and Other (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Insurance premiums	$ 1,658	$ 1,730
Other	2,906	2,408
	19,307	18,134
Tires In Service [Member]
Prepaid expenses	5,351	5,064
License Fees Member [Member]
Prepaid expenses	5,042	4,921
Parts And Tires Inventory [Member]
Prepaid expenses	$ 4,350	$ 4,011

XML 47 R34.htm IDEA: XBRL DOCUMENT

Note 2 - Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Accrued expenses	$ 12,903	$ 7,940
Vacation	5,353	4,782
Accrued liability to MWL	3,026	4,284
Salaries and wages	1,839	2,644
Other	3,718	1,984
	$ 26,839	$ 21,634

XML 48 R35.htm IDEA: XBRL DOCUMENT

Note 3 - Long-term Debt (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Apr. 30, 2016	Dec. 31, 2015	Nov. 30, 2015	Oct. 31, 2015
Line of Credit Facility, Maximum Borrowing Capacity	$ 40.0	$ 30.0		$ 75.0	$ 50.0
Long-term Line of Credit	7.9		$ 37.9
Letters of Credit Outstanding, Amount	11.2
Line of Credit Facility, Remaining Borrowing Capacity	$ 20.9
Line Of Credit Facility Dividend Restrictions Percentage Of Net Income Limit	25.00%
Credit Facility [Member]
Long-term Debt, Weighted Average Interest Rate	1.46%