Significant Accounting Policies

6 Months Ended

Jun. 30, 2018

Significant Accounting Policies

(1) Significant Accounting Policies

Revenue Recognition

The Company recognizes revenue from customer contracts based on relative transit time in each reporting period as the performance obligation is satisfied. As a result, a portion of the total revenue that will be billed to the customer once a load is delivered is recognized in each reporting period based on the percentage of total transit time that has been completed at the end of the reporting period. When providing the physical transportation of freight, the Company is the primary obligor with respect to freight delivery. Accordingly, the transportation revenue billed to customers for the physical transportation of freight and the related direct freight expenses are recognized on a gross basis over the transit period as the performance obligation is satisfied.