2017 Q2 Form 10-Q Financial Statement
#000087892717000027 Filed on August 07, 2017
Income Statement
Concept | 2017 Q2 | 2016 Q2 |
---|---|---|
Revenue | $839.9M | $755.4M |
YoY Change | 11.18% | -0.88% |
Cost Of Revenue | $88.60M | $80.30M |
YoY Change | 10.34% | -14.03% |
Gross Profit | $751.3M | $675.1M |
YoY Change | 11.29% | 0.94% |
Gross Profit Margin | 89.45% | 89.37% |
Selling, General & Admin | $488.5M | $450.1M |
YoY Change | 8.53% | 4.6% |
% of Gross Profit | 65.02% | 66.67% |
Research & Development | ||
YoY Change | ||
% of Gross Profit | ||
Depreciation & Amortization | $50.40M | $46.50M |
YoY Change | 8.39% | 16.83% |
% of Gross Profit | 6.71% | 6.89% |
Operating Expenses | $590.9M | $541.7M |
YoY Change | 9.08% | 2.61% |
Operating Profit | $160.4M | $133.4M |
YoY Change | 20.23% | -5.3% |
Interest Expense | -$600.0K | -$1.100M |
YoY Change | -45.45% | 0.0% |
% of Operating Profit | -0.37% | -0.82% |
Other Income/Expense, Net | -$142.0K | -$1.312M |
YoY Change | -89.18% | -14.08% |
Pretax Income | $160.3M | $132.1M |
YoY Change | 21.32% | -5.2% |
Income Tax | $61.87M | $50.74M |
% Of Pretax Income | 38.6% | 38.4% |
Net Earnings | $98.42M | $81.39M |
YoY Change | 20.92% | -4.89% |
Net Earnings / Revenue | 11.72% | 10.77% |
Basic Earnings Per Share | $1.20 | $0.98 |
Diluted Earnings Per Share | $1.19 | $0.98 |
COMMON SHARES | ||
Basic Shares Outstanding | 82.32M shares | 83.35M shares |
Diluted Shares Outstanding | 82.43M shares | 83.38M shares |
Balance Sheet
Concept | 2017 Q2 | 2016 Q2 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $33.80M | $10.70M |
YoY Change | 215.89% | -16.41% |
Cash & Equivalents | $33.83M | $10.67M |
Short-Term Investments | ||
Other Short-Term Assets | $40.60M | $33.70M |
YoY Change | 20.47% | -51.16% |
Inventory | ||
Prepaid Expenses | $40.58M | $33.69M |
Receivables | $363.8M | $319.0M |
Other Receivables | $6.393M | $8.480M |
Total Short-Term Assets | $444.6M | $371.9M |
YoY Change | 19.56% | -11.81% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $2.321B | $2.225B |
YoY Change | 4.33% | 17.63% |
Goodwill | $19.46M | $19.46M |
YoY Change | 0.0% | 0.0% |
Intangibles | ||
YoY Change | ||
Long-Term Investments | ||
YoY Change | ||
Other Assets | $54.88M | $43.60M |
YoY Change | 25.88% | -4.13% |
Total Long-Term Assets | $2.396B | $2.288B |
YoY Change | 4.7% | 16.95% |
TOTAL ASSETS | ||
Total Short-Term Assets | $444.6M | $371.9M |
Total Long-Term Assets | $2.396B | $2.288B |
Total Assets | $2.840B | $2.660B |
YoY Change | 6.78% | 11.85% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $54.23M | $79.23M |
YoY Change | -31.55% | 29.8% |
Accrued Expenses | $25.84M | $37.83M |
YoY Change | -31.69% | -81.37% |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Long-Term Debt Due | $50.00M | $0.00 |
YoY Change | -100.0% | |
Total Short-Term Liabilities | $344.4M | $291.4M |
YoY Change | 18.21% | -2.51% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $45.00M | $218.3M |
YoY Change | -79.39% | 85.0% |
Other Long-Term Liabilities | $185.2M | $155.8M |
YoY Change | 18.83% | 4.02% |
Total Long-Term Liabilities | $502.8M | $626.7M |
YoY Change | -19.77% | 30.71% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $344.4M | $291.4M |
Total Long-Term Liabilities | $502.8M | $626.7M |
Total Liabilities | $847.2M | $918.0M |
YoY Change | -7.71% | 17.95% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | $1.848B | $1.599B |
YoY Change | 15.58% | 9.75% |
Common Stock | $136.7M | $134.5M |
YoY Change | 1.61% | 0.1% |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | $1.993B | $1.742B |
YoY Change | ||
Total Liabilities & Shareholders Equity | $2.840B | $2.660B |
YoY Change | 6.78% | 11.85% |
Cashflow Statement
Concept | 2017 Q2 | 2016 Q2 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | $98.42M | $81.39M |
YoY Change | 20.92% | -4.89% |
Depreciation, Depletion And Amortization | $50.40M | $46.50M |
YoY Change | 8.39% | 16.83% |
Cash From Operating Activities | $127.7M | $123.8M |
YoY Change | 3.15% | 51.72% |
INVESTING ACTIVITIES | ||
Capital Expenditures | -$131.3M | -$175.2M |
YoY Change | -25.06% | 10.12% |
Acquisitions | ||
YoY Change | ||
Other Investing Activities | $5.600M | $2.300M |
YoY Change | 143.48% | -72.94% |
Cash From Investing Activities | -$125.7M | -$172.9M |
YoY Change | -27.3% | 14.81% |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | ||
YoY Change | ||
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | -15.60M | 52.60M |
YoY Change | -129.66% | -268.05% |
NET CHANGE | ||
Cash From Operating Activities | 127.7M | 123.8M |
Cash From Investing Activities | -125.7M | -172.9M |
Cash From Financing Activities | -15.60M | 52.60M |
Net Change In Cash | -13.60M | 3.500M |
YoY Change | -488.57% | -103.49% |
FREE CASH FLOW | ||
Cash From Operating Activities | $127.7M | $123.8M |
Capital Expenditures | -$131.3M | -$175.2M |
Free Cash Flow | $259.0M | $299.0M |
YoY Change | -13.38% | 24.22% |
Facts In Submission
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Current Fiscal Year End Date
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Q2 | ||
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2017 | ||
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2017-06-30 | ||
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10-Q | ||
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CY2016Q4 | us-gaap |
Liabilities Noncurrent
LiabilitiesNoncurrent
|
556453000 | USD |
CY2017Q2 | us-gaap |
Liabilities Noncurrent
LiabilitiesNoncurrent
|
502797000 | USD |
CY2016Q4 | us-gaap |
Line Of Credit
LineOfCredit
|
9975000 | USD |
CY2017Q2 | us-gaap |
Line Of Credit
LineOfCredit
|
0 | USD |
CY2016Q2 | us-gaap |
Line Of Credit Facility Unused Capacity Commitment Fee Percentage
LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage
|
0.00125 | |
us-gaap |
Line Of Credit Facility Unused Capacity Commitment Fee Percentage
LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage
|
0.00125 | ||
CY2017Q2 | us-gaap |
Line Of Credit Facility Unused Capacity Commitment Fee Percentage
LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage
|
0.00125 | |
us-gaap |
Line Of Credit Facility Unused Capacity Commitment Fee Percentage
LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage
|
0.00125 | ||
CY2016Q4 | us-gaap |
Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
|
104975000 | USD |
CY2017Q2 | us-gaap |
Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
|
45000000 | USD |
CY2016Q4 | us-gaap |
Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
|
0 | USD |
CY2017Q2 | us-gaap |
Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
|
50000000 | USD |
CY2016Q4 | us-gaap |
Long Term Debt Fair Value
LongTermDebtFairValue
|
108300000 | USD |
CY2017Q2 | us-gaap |
Long Term Debt Fair Value
LongTermDebtFairValue
|
98600000 | USD |
CY2016Q4 | us-gaap |
Machinery And Equipment Gross
MachineryAndEquipmentGross
|
1496697000 | USD |
CY2017Q2 | us-gaap |
Machinery And Equipment Gross
MachineryAndEquipmentGross
|
1573352000 | USD |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-494000 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-33923000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-292536000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-180929000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
292231000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
238514000 | USD | |
CY2016Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
81388000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
141673000 | USD | |
CY2017Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
98418000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
164210000 | USD | |
CY2016Q2 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-1312000 | USD |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-2995000 | USD | |
CY2017Q2 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-142000 | USD |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-1111000 | USD | |
CY2016Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
133436000 | USD |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
232984000 | USD | |
CY2017Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
160432000 | USD |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
268554000 | USD | |
CY2016Q2 | us-gaap |
Operating Insurance And Claims Costs Production
OperatingInsuranceAndClaimsCostsProduction
|
9363000 | USD |
us-gaap |
Operating Insurance And Claims Costs Production
OperatingInsuranceAndClaimsCostsProduction
|
19607000 | USD | |
CY2017Q2 | us-gaap |
Operating Insurance And Claims Costs Production
OperatingInsuranceAndClaimsCostsProduction
|
9314000 | USD |
us-gaap |
Operating Insurance And Claims Costs Production
OperatingInsuranceAndClaimsCostsProduction
|
18104000 | USD | |
CY2016Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
52760000 | USD |
CY2017Q2 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
54880000 | USD |
CY2016Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
178879000 | USD |
CY2017Q2 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
185198000 | USD |
CY2016Q2 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-260000 | USD |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-776000 | USD | |
CY2017Q2 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
431000 | USD |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
22000 | USD | |
CY2016Q4 | us-gaap |
Other Receivables Net Current
OtherReceivablesNetCurrent
|
14402000 | USD |
CY2017Q2 | us-gaap |
Other Receivables Net Current
OtherReceivablesNetCurrent
|
6393000 | USD |
us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
84683000 | USD | |
us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
7135000 | USD | |
us-gaap |
Payments Of Dividends
PaymentsOfDividends
|
0 | USD | |
us-gaap |
Payments Of Dividends
PaymentsOfDividends
|
16469000 | USD | |
us-gaap |
Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
|
295533000 | USD | |
us-gaap |
Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
|
188318000 | USD | |
CY2016Q4 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
37962000 | USD |
CY2017Q2 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
40579000 | USD |
us-gaap |
Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
|
-338000 | USD | |
us-gaap |
Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
|
-344000 | USD | |
us-gaap |
Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
|
111015000 | USD | |
us-gaap |
Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
|
-9975000 | USD | |
us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
2997000 | USD | |
us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
7389000 | USD | |
CY2016Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
3284984000 | USD |
CY2017Q2 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
3446345000 | USD |
CY2016Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
2241402000 | USD |
CY2017Q2 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
2321243000 | USD |
CY2016Q4 | us-gaap |
Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
|
402482000 | USD |
CY2017Q2 | us-gaap |
Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
|
419188000 | USD |
us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
26488000 | USD | |
us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
0 | USD | |
CY2016Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
1707450000 | USD |
CY2017Q2 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
1848045000 | USD |
CY2016Q2 | us-gaap |
Sales Revenue Services Net
SalesRevenueServicesNet
|
755435000 | USD |
CY2016Q2 | us-gaap |
Sales Revenue Services Net
SalesRevenueServicesNet
|
755435000 | USD |
us-gaap |
Sales Revenue Services Net
SalesRevenueServicesNet
|
1463168000 | USD | |
us-gaap |
Sales Revenue Services Net
SalesRevenueServicesNet
|
1463168000 | USD | |
CY2017Q2 | us-gaap |
Sales Revenue Services Net
SalesRevenueServicesNet
|
839912000 | USD |
CY2017Q2 | us-gaap |
Sales Revenue Services Net
SalesRevenueServicesNet
|
839912000 | USD |
us-gaap |
Sales Revenue Services Net
SalesRevenueServicesNet
|
1594008000 | USD | |
us-gaap |
Sales Revenue Services Net
SalesRevenueServicesNet
|
1594008000 | USD | |
CY2016Q4 | us-gaap |
Self Insurance Reserve Current
SelfInsuranceReserveCurrent
|
47417000 | USD |
CY2017Q2 | us-gaap |
Self Insurance Reserve Current
SelfInsuranceReserveCurrent
|
47897000 | USD |
CY2016Q4 | us-gaap |
Senior Notes
SeniorNotes
|
95000000 | USD |
CY2017Q2 | us-gaap |
Senior Notes
SeniorNotes
|
95000000 | USD |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
480000 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1590000 | USD | |
CY2016Q2 | us-gaap |
Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
|
18176000 | USD |
us-gaap |
Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
|
36672000 | USD | |
CY2017Q2 | us-gaap |
Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
|
20860000 | USD |
us-gaap |
Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
|
38857000 | USD | |
CY2017Q2 | us-gaap |
Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
|
192800000 | USD |
CY2017Q2 | us-gaap |
Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
|
82016 | shares |
us-gaap |
Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
|
82616 | shares | |
CY2017Q2 | us-gaap |
Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
|
7100000 | USD |
us-gaap |
Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
|
7100000 | USD | |
CY2016Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1851158000 | USD |
CY2017Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1992991000 | USD |
CY2016Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
83381429 | shares |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
83682228 | shares | |
CY2017Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
82427975 | shares |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
82436170 | shares | |
CY2016Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
83354013 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
83668521 | shares | |
CY2017Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
82318623 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
82333739 | shares | |
us-gaap |
Nature Of Operations
NatureOfOperations
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;">Business</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-indent:32px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">We are a leading, less-than-truckload (“LTL”), union-free motor carrier providing regional, inter-regional and national LTL services, which include ground and air expedited transportation and consumer household pickup and delivery, through a single integrated organization. In addition to our core LTL services, we offer a range of value-added services including container drayage, truckload brokerage, supply chain consulting and warehousing. We have one operating segment and the composition of our revenue is summarized below: </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:96.10136452241716%;border-collapse:collapse;text-align:left;"><tr><td colspan="17" rowspan="1"></td></tr><tr><td style="width:44%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Three Months Ended </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Six Months Ended</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">June 30,</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">June 30,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;font-style:italic;text-decoration:underline;">(In thousands)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">2017</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">2017</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">2016</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">LTL services</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">826,401</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">742,255</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:24px;text-indent:-24px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;padding-left:24px;text-indent:-24px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">1,566,587</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:24px;text-indent:-24px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;padding-left:24px;text-indent:-24px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">1,436,787</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Other services</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">13,511</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">13,180</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">27,421</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">26,381</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Total revenue</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">839,912</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">755,435</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">1,594,008</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">1,463,168</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> |