Revenue Recognition (Notes)

12 Months Ended

Dec. 31, 2022

Revenue Recognition and Deferred Revenue [Abstract]

Revenue from Contract with Customer [Text Block]

Revenue Recognition

The Company recognizes revenue over time as control of the promised services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those services. The delivery of the shipment and completion of the performance obligation allows for the collection of payment predominantly within 30 days after the delivery date of the shipment for the majority of our customers.

The Company's operations are consistent with those in the trucking industry where freight is hauled twenty-four hours a day and seven days a week, subject to hours of service rules. The Company’s average length of haul is approximately 500 miles per trip and each individual shipment accepted by the Company is considered a separate contract with the performance obligation being the delivery of the freight. Our average length of haul for each load of freight generally equals less than one day of continuous transit time. The Company estimates revenue for multiple-stop loads based on miles run and estimates revenue for single stop loads based on transit time, as the customer simultaneously receives and consumes the benefit provided. The

Company hauls freight and earns revenue on a consistent basis throughout the periods presented. A corresponding contract asset existed for the estimated revenue of these in-process loads for $2.6 million and $1.3 million as of December 31, 2022 and 2021, respectively. Recorded contract assets are included in the accounts receivable line item of the balance sheet. Corresponding liabilities are recorded in the accounts payable and accrued liabilities and compensation and benefits line items for the estimated expenses on these same in-process loads. The Company had no contract liabilities associated with our operations as of December 31, 2022 and 2021.Total revenues recorded were $968.0 million, $607.3 million, and $645.3 million for the twelve months ended December 31, 2022, 2021, and 2020, respectively. Fuel surcharge revenues were $169.2 million, $76.1 million, and $61.7 million for the twelve months ended December 31, 2022, 2021, and 2020, respectively. As a result of the CFI acquisition we now outsource the transportation of certain loads to third-party carriers. The company is a principal in these arrangements resulting in revenue associated with these contracts being recorded on a gross basis. The primary responsibility to meet the customer's requirements is maintained by the Company as the party performing billing, collection and pricing negotiations with the customer. The company is also responsible for selecting third-party transportation providers that satisfy our premium customer service requirements. Accessorial, brokerage and other revenues recorded in the consolidated statements of comprehensive income collectively represented $50.7 million, $11.4 million, and $14.3 million for the twelve months ended December 31, 2022, 2021, and 2020, respectively