Note 10 - Equity Investment

3 Months Ended

Mar. 31, 2019

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

$585,000

and

$1.5

million of our revenue for loads transported by our tractors and arranged by MWL in the

first

three

months of

2019

and

2018,

respectively. As of

March 31, 2019,

we also had a trade receivable in the amount of

$303,000

from MWL and an accrued liability of

$1.4

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.