v3.25.2
Fair Value (Tables)
 6 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis
The following table presents the fair value hierarchy for our assets and liabilities measured at fair value on a recurring basis (in thousands):
Level in
Fair Value
Hierarchy		Fair Value
June 30, 2025December 31, 2024
Assets:
Other non-current assets:
Pay-fixed interest rate swaps (1)
2$— $1,162 
Equity securities (2)
1106 141 
Total other non-current assets$106 $1,303 
Liabilities:
Other current liabilities:
Pay-fixed interest rate swaps (1)
2$11 $134 
Other long-term liabilities:
Pay-fixed interest rate swaps (1)
23,961 2,420 
Contingent consideration associated with acquisition3— 9,315 
Total other long-term liabilities3,961 11,735 
Total liabilities at fair value$3,972 $11,869 
(1) Pay-fixed interest rate swaps are measured on a recurring basis by netting the discounted future fixed cash payments and the discounted expected variable cash receipts. The variable cash receipts are based on the expectation of future interest rates (forward curves) derived from observed market interest rate curves. See Note 7 – Debt and Credit Facilities for further information on our interest rate swaps.
(2) Represents our investment in an autonomous technology company. For additional information regarding the valuation of this equity security, see Note 6 – Investments.
Schedule of Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
The following table presents changes in the fair value of our contingent earnout liability (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2025202420252024
Balance at beginning of period
$9,421 $8,998 $9,315 $8,896 
Payment for contingent consideration (1)
(1,500)— (1,500)— 
Change in fair value (2)
(7,921)104 (7,815)206 
Balance at end of period
$— $9,102 $— $9,102 
(1) The final outcome of the contingent consideration arrangement related to the Baylor Trucking, Inc. acquisition was negotiated and paid in April 2025, as certain financial performance goals were achieved. The contingent earnout period was scheduled to end on October 31, 2025.
(2) Represents a net favorable change to the contingent earnout liability, resulting from the finalization of the Baylor Trucking, Inc. contingent consideration arrangement in April 2025.