v3.25.1
Debt And Financing (Details) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Aug. 06, 2024
Jun. 22, 2023
Sep. 03, 2021
Mar. 31, 2025
Dec. 31, 2024
Debt Instrument [Line Items]            
Long-Term Debt $ 1,552,996       $ 1,552,996 $ 1,593,607
Less: current portion of long-term debt (140,448)       (140,448) (148,294)
Long-term debt – less current portion 1,412,548       1,412,548 1,445,313
Revolving line of credit 280,000       280,000 232,000
Long-term Debt 1,832,996       1,832,996 1,825,607
Letters of Credit Outstanding, Amount 242,600       242,600 246,000
2021 Term Loan A-2            
Debt Instrument [Line Items]            
Long-Term Debt [1],[2] 349,277       349,277 349,149
Deferred loan costs $ 700       700 900
Line of Credit Facility, Maximum Borrowing Capacity   $ 350,000   $ 200,000    
Final maturity date   Sep. 03, 2026        
Program fees on outstanding balances   SOFR + credit spread adjustment 10 basis points        
Minimum principal payment — amount   $ 0        
Minimum principal payment — frequency   Once        
Minimum principal payment — commencement date   Sep. 03, 2026        
Debt Instrument, Interest Rate During Period 5.92%          
2021 Term Loan A-2 | Minimum [Member]            
Debt Instrument [Line Items]            
Debt Instrument, Interest Rate, Stated Percentage [3]   0.88%        
2021 Term Loan A-2 | Maximum [Member]            
Debt Instrument [Line Items]            
Debt Instrument, Interest Rate, Stated Percentage [3]   1.50%        
2021 Term Loan A-3            
Debt Instrument [Line Items]            
Long-Term Debt [1],[2] $ 769,500       769,500 779,411
Deferred loan costs $ 500       500 600
Line of Credit Facility, Maximum Borrowing Capacity       $ 800,000    
Final maturity date       Sep. 03, 2026    
Program fees on outstanding balances   SOFR + credit spread adjustment 10 basis points        
Minimum principal payment — amount       $ 10,000    
Minimum principal payment — frequency       Quarterly    
Minimum principal payment — commencement date       Sep. 30, 2024    
Debt Instrument, Interest Rate During Period 5.92%          
2021 Term Loan A-3 | Minimum [Member]            
Debt Instrument [Line Items]            
Debt Instrument, Interest Rate, Stated Percentage [3]       0.88%    
2021 Term Loan A-3 | Maximum [Member]            
Debt Instrument [Line Items]            
Debt Instrument, Interest Rate, Stated Percentage [3]       1.50%    
2023 Term Loan            
Debt Instrument [Line Items]            
Long-Term Debt [2],[4] $ 249,540       249,540 249,459
Deferred loan costs $ 500       500 500
Line of Credit Facility, Maximum Borrowing Capacity     $ 250,000      
Final maturity date     Sep. 03, 2026      
Program fees on outstanding balances     SOFR      
Debt Instrument, Interest Rate, Stated Percentage     1.75%      
Minimum principal payment — amount     $ 0      
Debt Instrument, Interest Rate During Period 6.17%          
Debt Instrument, Basis Spread on Variable Rate     0.10%      
2021 Prudential Notes            
Debt Instrument [Line Items]            
Long-Term Debt [2] $ 8,674       8,674 16,611
2021 Prudential Notes | Minimum [Member]            
Debt Instrument [Line Items]            
Debt Instrument, Interest Rate, Stated Percentage       4.05%    
2021 Prudential Notes | Maximum [Member]            
Debt Instrument [Line Items]            
Debt Instrument, Interest Rate, Stated Percentage       4.40%    
Other Debt            
Debt Instrument [Line Items]            
Secured Debt, Other 6,491       6,491 6,722
2021 Revolver            
Debt Instrument [Line Items]            
Letters of Credit Outstanding, Amount $ 18,200       18,200 18,100
Line of Credit Facility, Maximum Borrowing Capacity [5]       $ 1,100,000    
Final maturity date [5]       Sep. 03, 2026    
Program fees on outstanding balances [5]   SOFR + credit spread adjustment 10 basis points        
Minimum principal payment — amount [5]       $ 0    
Minimum principal payment — frequency [5]       Once    
Minimum principal payment — commencement date [5]       Sep. 03, 2026    
Debt Instrument, Interest Rate During Period 5.92%          
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage 0.20%          
Line of Credit Facility, Commitment Fee Percentage 1.50%          
2021 Revolver | Minimum [Member]            
Debt Instrument [Line Items]            
Debt Instrument, Interest Rate, Stated Percentage [3],[5]       0.88%    
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage       0.10%    
2021 Revolver | Maximum [Member]            
Debt Instrument [Line Items]            
Debt Instrument, Interest Rate, Stated Percentage [3],[5]       1.50%    
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage       0.20%    
U.S. Xpress Revenue Equipment Installment Notes            
Debt Instrument [Line Items]            
Secured Debt [2],[6] $ 169,514       $ 169,514 $ 192,255
Debt, Weighted Average Interest Rate 4.72%       4.72% 4.68%
Debt Instrument, Collateral Amount $ 147,400       $ 147,400  
U.S. Xpress Revenue Equipment Installment Notes | Minimum [Member]            
Debt Instrument [Line Items]            
Debt Instrument, Interest Rate During Period 2.00%          
Debt Instrument, Term         48 months  
U.S. Xpress Revenue Equipment Installment Notes | Maximum [Member]            
Debt Instrument [Line Items]            
Debt Instrument, Interest Rate During Period 7.17%          
Debt Instrument, Term         84 months  
Line of Credit | 2021 Revolver            
Debt Instrument [Line Items]            
Revolving line of credit [2],[7] $ 280,000       $ 280,000 $ 232,000
Loans Payable [Member]            
Debt Instrument [Line Items]            
Line of Credit Facility, Maximum Borrowing Capacity       $ 2,300,000    
Loans Payable [Member] | 2021 Term Loan A-2            
Debt Instrument [Line Items]            
Deferred loan costs 700       700 900
Loans Payable [Member] | 2021 Term Loan A-3            
Debt Instrument [Line Items]            
Deferred loan costs 500       500 600
Loans Payable [Member] | 2023 Term Loan            
Debt Instrument [Line Items]            
Deferred loan costs $ 500       $ 500 $ 500
Loans Payable [Member] | 2021 Prudential Notes            
Debt Instrument [Line Items]            
Line of Credit Facility, Maximum Borrowing Capacity       $ 125,000    
[1] As of March 31, 2025, the carrying amounts of the 2021 Term Loan A-2 and 2021 Term Loan A-3 were net of $0.7 million and $0.5 million in deferred loan costs, respectively. As of December 31, 2024, the carrying amounts of the 2021 Term Loan A-2 and 2021 Term Loan A-3 were net of $0.9 million and $0.6 million in deferred loan costs, respectively.
[2] Refer to Note 12 for information regarding the fair value of debt.
[3] The interest rate margin for the 2021 Term Loans and 2021 Revolver is based on the Company's consolidated leverage ratio. As of March 31, 2025, interest accrued at 5.92% on the 2021 Term Loan A-2, 5.92% on the 2021 Term Loan A-3, and 5.92% on the 2021 Revolver.
[4] As of March 31, 2025, the carrying amount of the 2023 Term Loan was net of $0.5 million in deferred loan costs. As of December 31, 2024, the carrying amounts of the 2023 Term Loan was net of $0.5 million in deferred loan costs.
[5] The commitment fee for the unused portion of the 2021 Revolver is based on the Company's consolidated leverage ratio, and ranges from 0.1% to 0.2%. As of March 31, 2025, commitment fees on the unused portion of the 2021 Revolver accrued at 0.2% and outstanding letter of credit fees accrued at 1.5%.
[6] The revenue equipment installment loans were assumed at the close of the U.S. Xpress Acquisition and have a weighted average interest rate of 4.72% and 4.68% as of March 31, 2025 and December 31, 2024, respectively.
[7] The Company also had outstanding letters of credit of $18.2 million and $18.1 million under the 2021 Revolver, primarily related to workers' compensation and self-insurance liabilities for both March 31, 2025 and December 31, 2024, respectively. The Company also had outstanding letters of credit of $242.6 million and $246.0 million under a separate bilateral agreement which do not impact the availability of the 2021 Revolver as of March 31, 2025 and December 31, 2024, respectively.