
	Three Months Ended				Nine Months Ended
	September 30				September 30
	2016		2015		2016		2015
	(in thousands)
REVENUES
Freight Transportation (ABF Freight)	$	509,452	$	511,346	$	1,435,691	$	1,456,924
Premium Logistics (Panther)		75,365		73,583		211,148		229,146
Transportation Management (ABF Logistics)(1)		72,442		49,270		207,344		147,061
Emergency & Preventative Maintenance (FleetNet)		39,073		45,181		124,417		129,685
Household Goods Moving Services (ABF Moving)		31,040		43,076		74,926		93,870
Other and eliminations		(13,449)		(13,076)		(41,521)		(37,915)
Total consolidated revenues	$	713,923	$	709,380	$	2,012,005	$	2,018,771

OPERATING EXPENSES
Freight Transportation (ABF Freight)
Salaries, wages, and benefits	$	312,458	$	304,865	$	912,758	$	884,875
Fuel, supplies, and expenses		71,774		77,708		210,742		236,381
Operating taxes and licenses		12,312		12,444		36,446		36,762
Insurance		8,487		8,288		22,613		20,340
Communications and utilities		4,608		3,808		13,259		11,559
Depreciation and amortization		20,753		18,841		62,056		54,528
Rents and purchased transportation		58,350		56,920		145,846		151,144
Gain on sale of property and equipment		(81)		(565)		(2,450)		(1,403)
Pension settlement expense(1)		604		572		1,705		1,860
Other		2,137		1,888		6,293		6,167
Total Freight Transportation (ABF Freight)		491,402		484,769		1,409,268		1,402,213

Premium Logistics (Panther)
Purchased transportation		54,586		54,015		155,444		168,569
Depreciation and amortization		2,860		2,773		8,565		8,636
Salaries, benefits, insurance, and other		13,946		14,062		41,808		43,174
Total Premium Logistics (Panther)		71,392		70,850		205,817		220,379

Transportation Management (ABF Logistics)(1)		72,032		47,478		205,772		142,686
Emergency & Preventative Maintenance (FleetNet)		38,952		44,225		122,716		126,542
Household Goods Moving Services (ABF Moving)		29,054		40,048		72,819		89,207
Other and eliminations(2)		(9,279)		(11,428)		(32,146)		(30,439)
Total consolidated operating expenses(2)	$	693,553	$	675,942	$	1,984,246	$	1,950,588

⁽¹⁾

The 2016 periods include the operations of LDS since the September 2, 2016 acquisition date and the operations of Bear, which was acquired in December 2015.

⁽²⁾

Pre-tax pension settlement expense totaled $0.8 million on a consolidated basis for the three months ended September 30, 2016 and 2015, of which $0.6 million was reported by ABF Freight, $0.2 million was reported in Other and eliminations, and less than $0.1 million was reported by the asset-light logistics operating segments. For the nine months ended September 30, 2016 and 2015, pre-tax pension settlement expense totaled $2.3 million and $2.5 million, respectively, of which $1.7 million and $1.9 million, respectively, was reported by ABF Freight, $0.5 million was reported in Other and eliminations, and $0.1 million was reported by the asset-light logistics operating segments.


	Three Months Ended				Nine Months Ended
	September 30				September 30
	2016		2015		2016		2015
	(in thousands)
OPERATING INCOME
Freight Transportation (ABF Freight)	$	18,050	$	26,577	$	26,423	$	54,711
Premium Logistics (Panther)		3,973		2,733		5,331		8,767
Transportation Management (ABF Logistics)(1)		410		1,792		1,572		4,375
Emergency & Preventative Maintenance (FleetNet)		121		956		1,701		3,143
Household Goods Moving Services (ABF Moving)		1,986		3,028		2,107		4,663
Other and eliminations		(4,170)		(1,648)		(9,375)		(7,476)
Total consolidated operating income	$	20,370	$	33,438	$	27,759	$	68,183

OTHER INCOME (COSTS)
Interest and dividend income	$	390	$	378	$	1,178	$	882
Interest and other related financing costs		(1,296)		(1,157)		(3,774)		(3,183)
Other, net(2)		1,091		(613)		2,028		(15)
Total other costs		185		(1,392)		(568)		(2,316)
INCOME BEFORE INCOME TAXES	$	20,555	$	32,046	$	27,191	$	65,867

⁽¹⁾

The 2016 periods include the operations of LDS since the September 2, 2016 acquisition date and the operations of Bear, which was acquired in December 2015.

⁽²⁾

Includes changes in cash surrender value of life insurance policies.

The following table presents operating expenses by category on a consolidated basis:


	Three Months Ended				Nine Months Ended
	September 30				September 30
	2016		2015		2016		2015
	(in thousands)
OPERATING EXPENSES
Salaries, wages, and benefits	$	345,091	$	334,144	$	1,009,654	$	973,570
Rents, purchased transportation, and other costs of services		218,906		209,744		601,345		588,329
Fuel, supplies, and expenses		69,508		77,067		204,134		231,097
Depreciation and amortization(1)		25,793		23,373		76,692		68,221
Other		34,255		31,614		92,421		89,371
	$	693,553	$	675,942	$	1,984,246	$	1,950,588

⁽¹⁾

Includes amortization of intangible assets.

The following table provides asset information by reportable segment:


	September 30		December 31
	2016		2015
	(in thousands)
ASSETS
Freight Transportation (ABF Freight)	$	763,385	$	694,059
Premium Logistics (Panther)		215,659		216,075
Transportation Management (ABF Logistics)		113,079		75,023
Emergency & Preventative Maintenance (FleetNet)		23,563		21,958
Household Goods Moving Services (ABF Moving)		26,988		28,547
Other and eliminations(1)		178,194		227,247
	$	1,320,868	$	1,262,909

⁽¹⁾

Other and eliminations includes certain assets held by the parent holding company for strategic reasons, including unrestricted and restricted cash, cash equivalents, and short-term investments, as well as certain assets held for the benefit of multiple segments, including land and structures of the Company’s corporate headquarters and information systems equipment. Depreciation and amortization associated with these assets is allocated to the reporting segments.