FAIR VALUE (Tables)

6 Months Ended

Jun. 30, 2026

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, 2026		December 31, 2025
Assets


Other non-current assets
Pay-fixed interest rate swaps (1)	2	$	1,140	$	—
Equity securities (2)	2	88		73

Total assets at fair value		$	1,228	$	73
Liabilities
Other current liabilities
Pay-fixed interest rate swaps (1)	2	$	868	$	465
Contingent consideration associated with acquisition	3	30,387		—
Total other current liabilities		31,255		465
Other long-term liabilities:
Pay-fixed interest rate swaps (1)	2	—		3,361


Total liabilities at fair value		$	31,255	$	3,826

(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 9 – 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 8 – Investments.

Schedule of Changes in Fair Value of Contingent Consideration

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,
	2026		2025		2026		2025
Balance at beginning of period	$	30,000	$	9,421	$	—	$	9,315
Contingent consideration associated with the acquisition of FirstFleet (1)	—		—		30,000		—

Payment for contingent consideration (2)	—		(1,500)		—		(1,500)
Change in fair value (3)	387		(7,921)		387		(7,815)
Balance at end of period	$	30,387	$	—	$	30,387	$	—

(1) For additional information regarding our FirstFleet contingent consideration arrangement, see Note 2 – Business Acquisition.

(2) 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.

(3) For the three and six months ended June 30, 2025, the change in fair value primarily 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.