| Schedule of reportable operating segment information from continuing operations |
| | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | | June 30 | | June 30 | | | | 2025 | | 2024 | | 2025 | | 2024 | | | | | (in thousands) | | REVENUES | | | | | | | | | | | | | | Asset-Based | | $ | 713,312 | | $ | 712,725 | | $ | 1,359,606 | | $ | 1,384,192 | | Asset-Light | | | 341,922 | | | 395,817 | | | 697,934 | | | 792,180 | | Other and eliminations | | | (32,978) | | | (30,711) | | | (68,207) | | | (62,122) | | Total consolidated revenues | | $ | 1,022,256 | | $ | 1,077,831 | | $ | 1,989,333 | | $ | 2,114,250 | | | | | | | | | | | | | | | | OPERATING EXPENSES | | | | | | | | | | | | | | Asset-Based | | | | | | | | | | | | | | Salaries, wages, and benefits | | $ | 365,929 | | $ | 352,678 | | $ | 710,070 | | $ | 697,677 | | Fuel, supplies, and expenses | | | 79,834 | | | 82,938 | | | 157,476 | | | 163,982 | | Operating taxes and licenses | | | 13,845 | | | 13,557 | | | 26,957 | | | 27,086 | | Insurance | | | 17,653 | | | 16,964 | | | 35,616 | | | 31,446 | | Communications and utilities | | | 5,150 | | | 4,412 | | | 10,960 | | | 9,211 | | Depreciation and amortization | | | 31,664 | | | 26,646 | | | 62,254 | | | 53,653 | | Rents and purchased transportation | | | 76,198 | | | 70,315 | | | 143,359 | | | 135,986 | | Shared services | | | 69,868 | | | 72,245 | | | 132,311 | | | 137,159 | | (Gain) loss on sale of property and equipment | | | (159) | | | (91) | | | (136) | | | 58 | | Other | | | 2,301 | | | 269 | | | 3,293 | | | 1,686 | | Total Asset-Based | | | 662,283 | | | 639,933 | | | 1,282,160 | | | 1,257,944 | | | | | | | | | | | | | | | | Asset-Light | | | | | | | | | | | | | | Purchased transportation | | | 288,580 | | | 339,247 | | | 593,194 | | | 683,369 | | Salaries, wages, and benefits | | | 25,629 | | | 31,036 | | | 51,178 | | | 61,340 | | Supplies and expenses | | | 1,739 | | | 2,768 | | | 3,478 | | | 5,577 | | Depreciation and amortization(1) | | | 4,605 | | | 5,039 | | | 9,223 | | | 10,117 | | Shared services | | | 18,594 | | | 17,297 | | | 36,575 | | | 33,571 | | Contingent consideration(2) | | | (2,650) | | | 3,850 | | | (2,650) | | | 11,170 | | Other | | | 4,834 | | | 6,078 | | | 10,725 | | | 11,792 | | Total Asset-Light | | | 341,331 | | | 405,315 | | | 701,723 | | | 816,936 | | | | | | | | | | | | | | | | Other and eliminations | | | (18,667) | | | (16,262) | | | (38,489) | | | (31,910) | | Total consolidated operating expenses | | $ | 984,947 | | $ | 1,028,986 | | $ | 1,945,394 | | $ | 2,042,970 | | | | | | | | | | | | | | | | OPERATING INCOME FROM CONTINUING OPERATIONS | | | | | | | | | | | | | | Asset-Based | | $ | 51,029 | | $ | 72,792 | | $ | 77,446 | | $ | 126,248 | | Asset-Light | | | 591 | | | (9,498) | | | (3,789) | | | (24,756) | | Other and eliminations | | | (14,311) | | | (14,449) | | | (29,718) | | | (30,212) | | Total consolidated operating income | | $ | 37,309 | | $ | 48,845 | | $ | 43,939 | | $ | 71,280 | | OTHER INCOME (COSTS) FROM CONTINUING OPERATIONS | | | | | | | | | | | | | | Interest and dividend income | | $ | 1,037 | | $ | 3,241 | | $ | 2,187 | | $ | 6,556 | | Interest and other related financing costs | | | (2,956) | | | (2,078) | | | (5,711) | | | (4,306) | | Other, net(3) | | | 578 | | | (781) | | | (273) | | | (28,980) | | Total other income (costs) | | | (1,341) | | | 382 | | | (3,797) | | | (26,730) | | INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES | | $ | 35,968 | | $ | 49,227 | | $ | 40,142 | | $ | 44,550 | |
| (1) | Depreciation and amortization includes amortization of intangibles associated with acquired businesses. |
| (2) | Represents the change in fair value of the contingent earnout consideration related to the MoLo acquisition (see Note B). |
| (3) | The six months ended June 30, 2024 includes a noncash impairment charge to write off the Company’s equity investment in Phantom Auto, as previously discussed (see Note B). |
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| Schedule of revenues from customers and intersegment revenues |
| | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | | June 30 | | June 30 | | | | 2025 | | 2024 | | 2025 | | 2024 | | | | | (in thousands) | | Revenues from customers | | | | | | | | | | | | | | Asset-Based | | $ | 680,936 | | $ | 682,558 | | $ | 1,292,271 | | $ | 1,323,134 | | Asset-Light | | | 340,098 | | | 394,377 | | | 694,666 | | | 789,202 | | Other | | | 1,222 | | | 896 | | | 2,396 | | | 1,914 | | Total consolidated revenues | | $ | 1,022,256 | | $ | 1,077,831 | | $ | 1,989,333 | | $ | 2,114,250 | | | | | | | | | | | | | | | | Intersegment revenues | | | | | | | | | | | | | | Asset-Based | | $ | 32,376 | | $ | 30,167 | | $ | 67,335 | | $ | 61,058 | | Asset-Light | | | 1,824 | | | 1,440 | | | 3,268 | | | 2,978 | | Other and eliminations | | | (34,200) | | | (31,607) | | | (70,603) | | | (64,036) | | Total intersegment revenues | | $ | — | | $ | — | | $ | — | | $ | — | | | | | | | | | | | | | | | | Total segment revenues | | | | | | | | | | | | | | Asset-Based | | $ | 713,312 | | $ | 712,725 | | $ | 1,359,606 | | $ | 1,384,192 | | Asset-Light | | | 341,922 | | | 395,817 | | | 697,934 | | | 792,180 | | Other and eliminations | | | (32,978) | | | (30,711) | | | (68,207) | | | (62,122) | | Total consolidated revenues | | $ | 1,022,256 | | $ | 1,077,831 | | $ | 1,989,333 | | $ | 2,114,250 | |
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| Schedule of consolidated operating expenses by component |
| | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | | June 30 | | June 30 | | | | 2025 | | 2024 | | 2025 | | 2024 | | | | | (in thousands) | | OPERATING EXPENSES | | | | | | | | | | | | | | Salaries, wages, and benefits | | $ | 458,115 | | $ | 453,283 | | $ | 890,003 | | $ | 892,806 | | Rents, purchased transportation, and other costs of services | | | 328,571 | | | 376,137 | | | 662,341 | | | 751,456 | | Fuel, supplies, and expenses | | | 110,530 | | | 112,137 | | | 216,476 | | | 221,659 | | Depreciation and amortization(1) | | | 40,926 | | | 36,276 | | | 80,890 | | | 73,109 | | Contingent consideration(2) | | | (2,650) | | | 3,850 | | | (2,650) | | | 11,170 | | Other | | | 49,455 | | | 47,303 | | | 98,334 | | | 92,770 | | | | $ | 984,947 | | $ | 1,028,986 | | $ | 1,945,394 | | $ | 2,042,970 | |
| (1) | Includes amortization of intangible assets. |
| (2) | Represents the change in fair value of the contingent earnout consideration related to the MoLo acquisition (see Note B). |
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