v3.25.2
Segment Information
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Information

Note 6. Segment Information

We have one operating and reportable segment that provides regional, inter-regional and national LTL services through a single integrated, union-free organization. We derive revenue primarily in North America and manage our business activities on a Company-wide basis. The accounting policies of our reportable segment are the same as those described in Note 1 in our Annual Report on Form 10-K for the year ended December 31, 2024.

Our chief operating decision maker (“CODM”), who is our President and Chief Executive Officer, reviews Company-wide financial information. The CODM uses “Net income” on our Condensed Statements of Operations to make capital allocation and spending decisions, which is initially performed as part of our annual strategic planning process. As part of our strategic planning process, we develop an annual budget for capital expenditures to support our forecasted tonnage and shipment growth. This annual capital expenditure plan, and any other spending decisions that the CODM believes will help prepare our Company for future growth, are generally considered our first priorities for allocating capital. Once those decisions are made, other capital considerations may include share repurchases, dividends, and acquisitions. The CODM monitors actual results against forecast throughout the year and evaluates necessary changes in operating activities or capital allocation. Segment assets are reported as “Total assets” on our Condensed Balance Sheets but “Total assets” are not used to measure segment performance or allocate resources. Long-lived assets, which consist primarily of net property and equipment, are all located in the United States.

The following table presents financial information with respect to our segment:

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

(In thousands)

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Revenue from operations

 

$

1,407,724

 

 

$

1,498,697

 

 

$

2,782,582

 

 

$

2,958,770

 

 

 

 

 

 

 

 

 

 

 

 

 

Less significant expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Salaries and wages

 

 

481,633

 

 

 

498,491

 

 

 

957,903

 

 

 

991,372

 

Employee benefit costs

 

 

190,460

 

 

 

185,293

 

 

 

372,275

 

 

 

360,802

 

Operating supplies and expenses

 

 

142,457

 

 

 

161,020

 

 

 

292,349

 

 

 

333,492

 

General supplies and expenses

 

 

41,676

 

 

 

44,371

 

 

 

81,556

 

 

 

89,947

 

Operating taxes and licenses

 

 

34,983

 

 

 

36,282

 

 

 

70,586

 

 

 

72,120

 

Insurance and claims

 

 

18,794

 

 

 

17,141

 

 

 

36,274

 

 

 

35,335

 

Communications and utilities

 

 

9,296

 

 

 

10,158

 

 

 

20,099

 

 

 

21,153

 

Depreciation and amortization

 

 

90,663

 

 

 

84,563

 

 

 

179,795

 

 

 

169,094

 

Purchased transportation

 

 

28,544

 

 

 

32,010

 

 

 

56,207

 

 

 

62,720

 

Miscellaneous expenses, net

 

 

11,323

 

 

 

7,677

 

 

 

19,588

 

 

 

14,618

 

Total non-operating expense (income)

 

 

679

 

 

 

(4,755

)

 

 

90

 

 

 

(11,211

)

Provision for income taxes

 

 

88,590

 

 

 

104,401

 

 

 

172,574

 

 

 

204,979

 

Segment net income

 

$

268,626

 

 

$

322,045

 

 

$

523,286

 

 

$

614,349

 

See the Company’s financial statements for other financial information regarding our segment as there are no reconciling items or adjustments between segment and total Company.