SUBSEQUENT EVENTS

9 Months Ended

Sep. 30, 2016

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

NOTE L – SUBSEQUENT EVENTS

On November 3, 2016, the Company announced its plan to implement a new corporate structure to better serve its customers. The new corporate structure will unify the Company’s sales, pricing, customer service, marketing, and capacity sourcing functions. ABF Logistics, ABF Moving, and Panther will be consolidated as a single asset-light logistics operation under ArcBest.  Based on the financial information that management is anticipated to use to make operating decisions and allocate resources, the Company expects to report the following operating segments for the fourth quarter of 2016: Asset-Based Operations, which consists of ABF Freight; the ArcBest segment; the FleetNet segment; and Other and eliminations.  The ArcBest and FleetNet reportable segments combined will represent the company’s Asset-Light Operations.

As a result of the restructuring, the Company expects to record restructuring charges in operating expenses, the majority of which are non-cash, for impairment of software, contract and lease terminations, severance, and relocation expenses totaling approximately $9 million in the fourth quarter of 2016 and an estimated $1 million in the first quarter of 2017.