LONG-TERM DEBT AND FINANCING ARRANGEMENTS (Tables)

6 Months Ended

Jun. 30, 2011

LONG-TERM DEBT AND FINANCING ARRANGEMENTS

Schedule of long-term debt, consisting of capital lease obligations and note payable

	June 30		December 31
	2011		2010
	($ thousands)
Capital lease obligations	$	51,552	$	56,658
Note payable	1,994		—
	53,546		56,658
Less current portion	15,386		14,001
Long-term debt, less current portion	$	38,160	$	42,657

Schedule of future minimum payments under the capital leases and note payable

The future minimum payments of long-term debt obligations as of June 30, 2011 are shown in the table below.

			Capital Lease		Note
	Total		Obligations(1)		Payable
	($ thousands)
Due in one year or less	$	17,340	$	16,700	$	640
Due after one year through two years	22,137		21,439		698
Due after two years through three years	12,362		11,664		698
Due after three years through four years	2,555		2,496		59
Due after four years through five years	2,433		2,433		—
Due after five years	803		803		—
Total minimum payments	57,630		55,535		2,095
Less amounts representing interest	4,084		3,983		101
Present value of net minimum payments included in long-term debt	$	53,546	$	51,552	$	1,994

(1) Minimum payments of capital lease obligations include maximum amounts due under rental adjustment clauses contained in the capital lease agreements.

Schedule of assets held under capital leases or securitized by note payable

	June 30		December 31
	2011		2010
	($ thousands)
Land and structures (terminals)	$	1,794	$	1,794
Revenue equipment	65,397		61,515
Service, office and other equipment	1,813		1,813
	69,004		65,122
Less accumulated amortization(1)	17,283		10,058
	$	51,721	$	55,064

(1) Amortization of assets under capital leases is included in depreciation expense.