2021 Q1 Form 10-Q Financial Statement

#000155837021006513 Filed on May 07, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $829.2M $701.4M
YoY Change 18.22% -1.47%
Cost Of Revenue $195.0M $170.2M
YoY Change 14.57% 1.73%
Gross Profit $634.2M $531.2M
YoY Change 19.39% -2.44%
Gross Profit Margin 76.48% 75.73%
Selling, General & Admin $529.7M $450.9M
YoY Change 17.48% 1.23%
% of Gross Profit 83.52% 84.88%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $30.35M $29.01M
YoY Change 4.62% 9.33%
% of Gross Profit 4.79% 5.46%
Operating Expenses $610.7M $525.6M
YoY Change 16.19% -1.92%
Operating Profit $32.19M $7.819M
YoY Change 311.7% -8.99%
Interest Expense -$2.000M -$1.600M
YoY Change 25.0% 14.29%
% of Operating Profit -6.21% -20.46%
Other Income/Expense, Net $1.192M -$3.862M
YoY Change -130.86% 553.47%
Pretax Income $31.35M $2.385M
YoY Change 1214.34% -63.84%
Income Tax $7.986M $483.0K
% Of Pretax Income 25.48% 20.25%
Net Earnings $23.36M $1.902M
YoY Change 1128.23% -61.09%
Net Earnings / Revenue 2.82% 0.27%
Basic Earnings Per Share $0.92 $0.07
Diluted Earnings Per Share $0.87 $0.07
COMMON SHARES
Basic Shares Outstanding 25.45M 25.39M
Diluted Shares Outstanding 26.93M 26.25M

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $360.9M $531.0M
YoY Change -32.03% 108.56%
Cash & Equivalents $301.5M $352.2M
Short-Term Investments $59.30M $178.8M
Other Short-Term Assets $4.893M $4.460M
YoY Change 9.71% -88.91%
Inventory
Prepaid Expenses $40.36M $33.81M
Receivables $344.2M $278.8M
Other Receivables $13.77M $15.28M
Total Short-Term Assets $768.7M $869.5M
YoY Change -11.59% 43.37%
LONG-TERM ASSETS
Property, Plant & Equipment $662.7M $663.5M
YoY Change -0.11% -4.08%
Goodwill $88.32M $88.32M
YoY Change 0.0%
Intangibles $54.03M $57.87M
YoY Change -6.64%
Long-Term Investments
YoY Change
Other Assets $76.55M $73.70M
YoY Change 3.86% -13.6%
Total Long-Term Assets $999.3M $964.8M
YoY Change 3.57% 1.22%
TOTAL ASSETS
Total Short-Term Assets $768.7M $869.5M
Total Long-Term Assets $999.3M $964.8M
Total Assets $1.768B $1.834B
YoY Change -3.62% 17.61%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $177.9M $127.6M
YoY Change 39.38% -12.35%
Accrued Expenses $235.2M $217.7M
YoY Change 8.03% -5.03%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $66.10M $57.00M
YoY Change 15.96% 16.8%
Total Short-Term Liabilities $500.7M $422.9M
YoY Change 18.42% -2.07%
LONG-TERM LIABILITIES
Long-Term Debt $200.8M $476.9M
YoY Change -57.89% 109.53%
Other Long-Term Liabilities $33.99M $35.06M
YoY Change -3.04% -71.38%
Total Long-Term Liabilities $33.99M $35.06M
YoY Change -3.04% -89.99%
TOTAL LIABILITIES
Total Short-Term Liabilities $500.7M $422.9M
Total Long-Term Liabilities $33.99M $35.06M
Total Liabilities $534.7M $457.9M
YoY Change 16.78% -45.35%
SHAREHOLDERS EQUITY
Retained Earnings $617.3M $532.9M
YoY Change 15.84%
Common Stock $344.8M $336.4M
YoY Change 2.52%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $851.9M $759.2M
YoY Change
Total Liabilities & Shareholders Equity $1.768B $1.834B
YoY Change -3.62% 17.61%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $23.36M $1.902M
YoY Change 1128.23% -61.09%
Depreciation, Depletion And Amortization $30.35M $29.01M
YoY Change 4.62% 9.33%
Cash From Operating Activities $22.53M $23.13M
YoY Change -2.57% -786.12%
INVESTING ACTIVITIES
Capital Expenditures $9.588M $6.738M
YoY Change 42.3% -56.65%
Acquisitions
YoY Change
Other Investing Activities $16.40M -$57.10M
YoY Change -128.72% 632.05%
Cash From Investing Activities $1.074M -$67.15M
YoY Change -101.6% 158.75%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.001M $3.162M
YoY Change -68.34% 18.74%
Debt Paid & Issued, Net $17.39M $14.60M
YoY Change 19.11% -4.07%
Cash From Financing Activities -26.02M 194.3M
YoY Change -113.39% -964.84%
NET CHANGE
Cash From Operating Activities 22.53M 23.13M
Cash From Investing Activities 1.074M -67.15M
Cash From Financing Activities -26.02M 194.3M
Net Change In Cash -2.412M 150.3M
YoY Change -101.61% -390.14%
FREE CASH FLOW
Cash From Operating Activities $22.53M $23.13M
Capital Expenditures $9.588M $6.738M
Free Cash Flow $12.95M $16.39M
YoY Change -21.02% -186.66%

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2181000
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3162000
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CY2020Q1 us-gaap Profit Loss
ProfitLoss
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CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
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45000000
CY2020Q1 us-gaap Depreciation
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967000
CY2020Q1 us-gaap Amortization Of Intangible Assets
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CY2020Q1 us-gaap Share Based Compensation
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CY2021Q1 us-gaap Provision For Doubtful Accounts
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CY2020Q1 us-gaap Provision For Doubtful Accounts
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CY2020Q1 us-gaap Deferred Income Tax Expense Benefit
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CY2021Q1 us-gaap Gain Loss On Sale Of Property Plant Equipment
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8635000
CY2020Q1 us-gaap Gain Loss On Sale Of Property Plant Equipment
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2130000
CY2021Q1 us-gaap Increase Decrease In Receivables
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22568000
CY2020Q1 us-gaap Increase Decrease In Receivables
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CY2021Q1 us-gaap Increase Decrease In Prepaid Expense
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CY2020Q1 us-gaap Increase Decrease In Prepaid Expense
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3429000
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164000
CY2020Q1 us-gaap Increase Decrease In Other Operating Assets
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CY2021Q1 us-gaap Increase Decrease In Income Taxes
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CY2020Q1 us-gaap Increase Decrease In Income Taxes
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CY2020Q1 arcb Increase Decrease In Operating Right Of Use Assets And Lease Liabilities Net
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138000
CY2021Q1 arcb Increase Decrease In Accounts Payable Accrued Expenses And Other Liabilities
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CY2020Q1 arcb Increase Decrease In Accounts Payable Accrued Expenses And Other Liabilities
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CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2020Q1 us-gaap Payments To Acquire Property Plant And Equipment
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CY2020Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2021Q1 us-gaap Payments To Acquire Short Term Investments
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CY2020Q1 us-gaap Payments To Acquire Short Term Investments
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24418000
CY2020Q1 us-gaap Proceeds From Sale Of Short Term Investments
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CY2020Q1 us-gaap Repayments Of Long Term Debt
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CY2020Q1 us-gaap Increase Decrease In Book Overdrafts
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2037000
CY2020Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
2033000
CY2021Q1 us-gaap Payments For Repurchase Of Common Stock
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1001000
CY2020Q1 us-gaap Payments For Repurchase Of Common Stock
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CY2021Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2020Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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301542000
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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352165000
CY2021Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2020Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2020Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2021Q1 us-gaap Number Of Reportable Segments
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CY2021Q1 us-gaap Prior Period Reclassification Adjustment Description
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">Reclassifications:</b> Certain reclassifications have been made<span style="font-family:'TimesNewRomanPSMT';"> </span>to the prior period presentation in the consolidated statements of cash flows to conform to the current year presentation. The multiemployer pension fund withdrawal liability, which was associated with the 2018 transition agreement and withdrawal from the New England Teamsters and Trucking Industry Pension Fund, was previously presented in a separate line of changes in operating assets and liabilities in the consolidated statements of cash flows and has been reclassed to the accounts payable, accrued expenses, and other liabilities line. There was no impact on net cash used in operating activities or total cash and cash equivalents as a result of the reclassification. </p>
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2020Q4 us-gaap Short Term Investments
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CY2021Q1 us-gaap Finite Lived Intangible Asset Useful Life
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CY2021Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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CY2021Q1 us-gaap Finite Lived Intangible Assets Net
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CY2020Q4 us-gaap Finite Lived Intangible Assets Gross
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CY2021Q1 us-gaap Intangible Assets Net Excluding Goodwill
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21728000
CY2021Q1 us-gaap Effective Income Tax Rate Continuing Operations
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CY2020Q1 us-gaap Effective Income Tax Rate Continuing Operations
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0.065
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1400000
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1300000
CY2020Q4 us-gaap Unrecognized Tax Benefits
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CY2021Q1 us-gaap Unrecognized Tax Benefits
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CY2021Q1 us-gaap Operating Lease Cost
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CY2020Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
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CY2021Q1 us-gaap Variable Lease Cost
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CY2020Q1 us-gaap Variable Lease Cost
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155000
CY2020Q1 us-gaap Sublease Income
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92000
CY2021Q1 us-gaap Lease Cost
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7819000
CY2020Q1 us-gaap Lease Cost
LeaseCost
6744000
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OperatingLeaseNoncashChangeInOperatingRightOfUseAssets
5741000
CY2020Q1 arcb Operating Lease Noncash Change In Operating Right Of Use Assets
OperatingLeaseNoncashChangeInOperatingRightOfUseAssets
5815000
CY2020Q1 arcb Operating Lease Change In Operating Lease Liabilities
OperatingLeaseChangeInOperatingLeaseLiabilities
5953000
CY2021Q1 arcb Operating Right Use Of Assets And Lease Liabilities Net
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567000
CY2020Q1 arcb Operating Right Use Of Assets And Lease Liabilities Net
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CY2021Q1 us-gaap Operating Lease Payments
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CY2020Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
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CY2020Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
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CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
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CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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21459000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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17248000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
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LesseeOperatingLeaseLiabilityPaymentsDueYearFour
12561000
CY2021Q1 arcb Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
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CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
128281000
CY2021Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2021Q1 us-gaap Operating Lease Liability
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116105000
CY2021Q1 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
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266837000
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CY2021Q1 us-gaap Long Term Debt And Capital Lease Obligations Current
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CY2020Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
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CY2021Q1 us-gaap Long Term Debt And Capital Lease Obligations
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71839000
CY2021Q1 arcb Maturities Of Long Term Debt And Future Minimum Payments Under Capital Leases Due In Two Years
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60650000
CY2021Q1 arcb Maturities Of Long Term Debt And Future Minimum Payments Under Capital Leases Due In Three Years
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43891000
CY2021Q1 arcb Maturities Of Long Term Debt And Future Minimum Payments Under Capital Leases Due In Four Years
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98088000
CY2021Q1 arcb Maturities Of Long Term Debt And Future Minimum Payments Under Capital Leases Due In Five Years
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6117000
CY2021Q1 arcb Maturities Of Long Term Debt And Future Minimum Payments Under Capital Leases Due
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280585000
CY2021Q1 arcb Maturities Of Long Term Debt And Future Minimum Payments Under Capital Leases Interest Included In Payments
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13748000
CY2021Q1 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
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266837000
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25454921
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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25390377
CY2021Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2020Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2021Q1 arcb Debt Instrument Collateral Property Plant And Equipment Gross
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CY2020Q4 arcb Debt Instrument Collateral Property Plant And Equipment Gross
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353093000
CY2021Q1 arcb Debt Instrument Collateral Accumulated Depreciation And Amortization Property Plant And Equipment
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CY2020Q4 arcb Debt Instrument Collateral Accumulated Depreciation And Amortization Property Plant And Equipment
DebtInstrumentCollateralAccumulatedDepreciationAndAmortizationPropertyPlantAndEquipment
115424000
CY2021Q1 arcb Debt Instrument Collateral Property Plant And Equipment Net
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225434000
CY2020Q4 arcb Debt Instrument Collateral Property Plant And Equipment Net
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CY2021Q1 us-gaap Letters Of Credit Outstanding Amount
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CY2020Q1 us-gaap Common Stock Dividends Per Share Declared
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CY2020Q1 us-gaap Dividends Common Stock Cash
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2033000
CY2021Q1 us-gaap Net Income Loss
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23361000
CY2020Q1 us-gaap Net Income Loss
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1902000
CY2020Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
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CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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23361000
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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1901000
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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25454921
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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25390377
CY2021Q1 us-gaap Earnings Per Share Basic
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CY2020Q1 us-gaap Earnings Per Share Basic
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23361000
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2021Q1 us-gaap Earnings Per Share Diluted
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CY2020Q1 us-gaap Earnings Per Share Diluted
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CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2021Q1 us-gaap Costs And Expenses
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CY2020Q1 us-gaap Costs And Expenses
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CY2021Q1 us-gaap Operating Income Loss
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CY2020Q1 us-gaap Operating Income Loss
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CY2021Q1 us-gaap Investment Income Interest And Dividend
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392000
CY2020Q1 us-gaap Investment Income Interest And Dividend
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1375000
CY2021Q1 us-gaap Interest And Debt Expense
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2428000
CY2020Q1 us-gaap Interest And Debt Expense
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2947000
CY2021Q1 us-gaap Other Nonoperating Income Expense
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1192000
CY2020Q1 us-gaap Other Nonoperating Income Expense
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CY2021Q1 arcb Nonoperating Income Expense And Interest And Debt Expense
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CY2020Q1 arcb Nonoperating Income Expense And Interest And Debt Expense
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CY2021Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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31347000
CY2020Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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2385000
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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701399000
CY2021Q1 us-gaap Labor And Related Expense
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359395000
CY2020Q1 us-gaap Labor And Related Expense
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344946000
CY2021Q1 arcb Rents Purchased Transportation Other Costs Of Services
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309338000
CY2020Q1 arcb Rents Purchased Transportation Other Costs Of Services
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217028000
CY2021Q1 arcb Fuel Supplies And Expenses
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73149000
CY2020Q1 arcb Fuel Supplies And Expenses
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71773000
CY2021Q1 us-gaap Depreciation Depletion And Amortization
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30354000
CY2020Q1 us-gaap Depreciation Depletion And Amortization
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29013000
CY2021Q1 us-gaap Other Cost And Expense Operating
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24786000
CY2020Q1 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
30820000
CY2021Q1 us-gaap Costs And Expenses
CostsAndExpenses
797022000
CY2020Q1 us-gaap Costs And Expenses
CostsAndExpenses
693580000

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0001558370-21-006513.txt Edgar Link pending
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