v3.26.1
Segment Information
 6 Months Ended
Jun. 30, 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 this 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

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

(In thousands)

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Revenue from operations

 

$

1,554,004

 

 

$

1,407,724

 

 

$

2,888,700

 

 

$

2,782,582

 

 

 

 

 

 

 

 

 

 

 

 

 

Less significant expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Salaries and wages

 

 

483,973

 

 

 

481,633

 

 

 

942,473

 

 

 

957,903

 

Employee benefit costs

 

 

203,375

 

 

 

190,460

 

 

 

383,170

 

 

 

372,275

 

Operating supplies and expenses

 

 

177,683

 

 

 

142,457

 

 

 

324,401

 

 

 

292,349

 

General supplies and expenses

 

 

46,413

 

 

 

41,676

 

 

 

93,482

 

 

 

81,556

 

Operating taxes and licenses

 

 

34,293

 

 

 

34,983

 

 

 

67,322

 

 

 

70,586

 

Insurance and claims

 

 

18,919

 

 

 

18,794

 

 

 

36,625

 

 

 

36,274

 

Communications and utilities

 

 

8,190

 

 

 

9,296

 

 

 

17,812

 

 

 

20,099

 

Depreciation and amortization

 

 

91,708

 

 

 

90,663

 

 

 

184,015

 

 

 

179,795

 

Purchased transportation

 

 

33,779

 

 

 

28,544

 

 

 

61,541

 

 

 

56,207

 

Miscellaneous (income) expense, net

 

 

(9,630

)

 

 

11,323

 

 

 

(4,783

)

 

 

19,588

 

Total non-operating (income) expense

 

 

(2,167

)

 

 

679

 

 

 

(2,504

)

 

 

90

 

Provision for income taxes

 

 

116,867

 

 

 

88,590

 

 

 

196,287

 

 

 

172,574

 

Segment net income

 

$

350,601

 

 

$

268,626

 

 

$

588,859

 

 

$

523,286

 

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.