v3.26.1
Segment Information
 3 Months Ended
Mar. 31, 2026
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, 2025.

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 property and equipment, net, are all located in the United States.

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

 

 

 

Three Months Ended

 

 

 

March 31,

 

(In thousands)

 

2026

 

 

2025

 

Revenue from operations

 

$

1,334,696

 

 

$

1,374,858

 

 

 

 

 

 

 

Less significant expenses:

 

 

 

 

 

 

Salaries and wages

 

 

458,500

 

 

 

476,270

 

Employee benefit costs

 

 

179,795

 

 

 

181,815

 

Operating supplies and expenses

 

 

146,718

 

 

 

149,892

 

General supplies and expenses

 

 

47,069

 

 

 

39,880

 

Operating taxes and licenses

 

 

33,029

 

 

 

35,603

 

Insurance and claims

 

 

17,706

 

 

 

17,480

 

Communications and utilities

 

 

9,622

 

 

 

10,803

 

Depreciation and amortization

 

 

92,307

 

 

 

89,132

 

Purchased transportation

 

 

27,762

 

 

 

27,663

 

Miscellaneous expenses, net

 

 

4,847

 

 

 

8,265

 

Total non-operating income

 

 

(337

)

 

 

(589

)

Provision for income taxes

 

 

79,420

 

 

 

83,984

 

Segment net income

 

$

238,258

 

 

$

254,660

 

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.