Note 17 - Segment Information

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

17. SEGMENT INFORMATION

Our four reportable segments are (i) Expedited, (ii) Dedicated, (iii) Managed Freight, and (iv) Warehousing. Refer to Note 1, for a description of each of our reportable segments.

The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies. Substantially all intersegment sales prices are market based. We evaluate performance based on operating income of the respective business units.

The following table summarizes our reportable segment information as used by our chief operating decision maker in making decisions regarding allocation of resources, etc., for 2023, 2022, and 2021:

(in thousands)
Year Ended December 31, 2023	Expedited		Dedicated		Managed Freight		Warehousing		Consolidated
Total revenue from external customers	$	423,820	$	320,287	$	258,903	$	100,563	$	1,103,573
Intersegment revenue		10,859		-		-		-		10,859
Operating income		28,861		17,712		9,388		2,862		58,823
Depreciation and amortization		35,451		32,163		562		1,767		69,943

(in thousands)
Year Ended December 31, 2022	Expedited		Dedicated		Managed Freight		Warehousing		Consolidated
Total revenue from external customers	$	452,713	$	362,997	$	320,985	$	80,163	$	1,216,858
Intersegment revenue		5,505		-		-		-		5,505
Operating income (loss)		60,552		21,087		36,858		2,185		120,682
Depreciation and amortization		30,101		25,449		247		1,715		57,512

(in thousands)
Year Ended December 31, 2021	Expedited		Dedicated			Managed Freight		Warehousing		Consolidated
Total revenue from external customers	$	337,063	$	324,541		$	321,236	$	63,163	$	1,046,003
Intersegment revenue		7,429		-			-		-		7,429
Operating income		33,064		(1,357	)		32,461		2,994		67,162
Depreciation and amortization		25,364		25,960			595		1,962		53,881

(in thousands)	For the years ended December 31,
	2023			2022			2021
Total external revenues for reportable segments	$	1,103,573		$	1,216,858		$	1,046,003
Intersegment revenues for reportable segments		10,859			5,505			7,429
Elimination of intersegment revenues		(10,859	)		(5,505	)		(7,429	)
Total consolidated revenues	$	1,103,573		$	1,216,858		$	1,046,003

Balance sheet data by reportable segment is not maintained by the Company.