Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Feb. 25, 2014 | Jun. 30, 2013 |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Entity Registrant Name | 'YRC Worldwide Inc. | ' | ' |
Entity Central Index Key | '0000716006 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Filer Category | 'Accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 28,901,590 | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Public Float | ' | ' | $264.60 |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Assets | ' | ' |
Cash and cash equivalents | $176.30 | $208.70 |
Restricted amounts held in escrow | 90.1 | 20 |
Accounts receivable, less allowances of $9.3 and $9.8 | 460.9 | 460.1 |
Fuel and operating supplies | 17 | 27.4 |
Prepaid expenses and other | 53.6 | 57.9 |
Total current assets | 797.9 | 774.1 |
Property and Equipment: | ' | ' |
Cost | 2,844.20 | 2,869 |
Less – accumulated depreciation | -1,754.40 | -1,677.60 |
Net property and equipment | 1,089.80 | 1,191.40 |
Intangibles, net | 79.8 | 99.2 |
Restricted amounts held in escrow | 0.6 | 102.5 |
Deferred income taxes, net | 18.3 | 0 |
Other assets | 78.5 | 58.3 |
Total Assets | 2,064.90 | 2,225.50 |
Liabilities and Shareholders’ Deficit | ' | ' |
Accounts payable | 176.7 | 162 |
Wages, vacations and employees’ benefits | 191.2 | 190.9 |
Deferred income taxes, net | 18.6 | 2.4 |
Claims and insurance accruals | 121 | 156.2 |
Other current and accrued liabilities | 68.5 | 74.6 |
Current maturities of long-term debt | 8.6 | 9.1 |
Total current liabilities | 584.6 | 595.2 |
Other Liabilities: | ' | ' |
Long-term debt, less current portion | 1,354.80 | 1,366.30 |
Deferred income taxes, net | 1.8 | 0 |
Pension and postretirement | 384.8 | 548.8 |
Claims and other liabilities | 336.3 | 344.3 |
Shareholders’ Deficit: | ' | ' |
Common stock, $0.01 par value per share - authorized 33,333,333 shares, issued 10,173,000 and 7,976,000 shares | 0.1 | 0.1 |
Capital surplus | 1,964.40 | 1,926.50 |
Accumulated deficit | -2,154.20 | -2,070.60 |
Accumulated other comprehensive loss | -315 | -392.4 |
Treasury stock, at cost (410 shares) | -92.7 | -92.7 |
Total shareholders’ deficit | -597.4 | -629.1 |
Total Liabilities and Shareholders’ Deficit | 2,064.90 | 2,225.50 |
Series A Preferred Stock [Member] | ' | ' |
Shareholders’ Deficit: | ' | ' |
Cumulative preferred stock, $1 par value per share - authorized 5,000,000 shares: Series A Preferred stock, shares issued 1, liquidation preference $1 | $0 | $0 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, except Share data, unless otherwise specified | ||
Assets: | ' | ' |
Allowance for doubtful accounts receivable | $9.30 | $9.80 |
Shareholders’ Deficit: | ' | ' |
Preferred stock, par value | $1 | $1 |
Preferred Stock, Shares Authorized | 5,000,000 | 5,000,000 |
Common stock, par value | $0.01 | $0.01 |
Common Stock, Shares Authorized | 33,333,333 | 33,333,333 |
Common Stock, Shares, Issued | 10,173,000 | 7,976,000 |
Treasury stock, shares | 410 | 410 |
Series A Preferred Stock [Member] | ' | ' |
Shareholders’ Deficit: | ' | ' |
Preferred Stock, Shares Issued | 1 | 1 |
Preferred Stock, Liquidation Preference Per Share | $1 | $1 |
Series B Preferred Stock [Member] | ' | ' |
Shareholders’ Deficit: | ' | ' |
Preferred Stock, Shares Issued | 0 | 0 |
Preferred Stock, Liquidation Preference Per Share | $0 | $0 |
Statements_Of_Consolidated_Ope
Statements Of Consolidated Operations (USD $) | 12 Months Ended | ||
In Millions, except Share data in Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' |
Operating Revenue | $4,865.40 | $4,850.50 | $4,868.80 |
Operating Expenses: | ' | ' | ' |
Salaries, wages and employees’ benefits | 2,797.30 | 2,782.70 | 2,798.20 |
Equity based compensation expense | 5.8 | 3.8 | 15.5 |
Operating expenses and supplies | 1,116.90 | 1,128.90 | 1,194.50 |
Purchased transportation | 512.5 | 488.8 | 535.4 |
Depreciation and amortization | 172.3 | 183.8 | 195.7 |
Other operating expenses | 234.4 | 248.1 | 275.9 |
Gains on property disposals, net | -2.2 | -9.7 | -8.2 |
Total operating expenses | 4,837 | 4,826.40 | 5,007 |
Operating Income (Loss) | 28.4 | 24.1 | -138.2 |
Nonoperating Expenses: | ' | ' | ' |
Interest expense | 163.9 | 150.8 | 156.2 |
Equity investment impairment | 0 | 30.8 | 0 |
Fair value adjustment of derivative liabilities | 0 | 0 | 79.2 |
Gain on extinguishment of debt | 0 | 0 | -25.8 |
Interest income | 0 | -0.7 | -0.4 |
Restructuring transaction costs | 0 | 0 | 17.8 |
Other, net | -6 | -5.3 | -3.3 |
Nonoperating expenses, net | 157.9 | 175.6 | 223.7 |
Net Loss Before Income Taxes | -129.5 | -151.5 | -361.9 |
Income tax benefit | -45.9 | -15 | -7.5 |
Net Loss | -83.6 | -136.5 | -354.4 |
Less: Net Income (Loss) Attributable to Noncontrolling Interest | 0 | 3.9 | -3.1 |
Net Loss Attributable to YRC Worldwide Inc. | -83.6 | -140.4 | -351.3 |
Amortization of beneficial conversion feature on preferred stock | 0 | 0 | -58 |
Net Loss Attributable to Common Shareholders | ($83.60) | ($140.40) | ($409.30) |
Average Common Shares Outstanding – Basic and Diluted | 9,332 | 7,311 | 2,087 |
Basic and Diluted Loss Per Share: | ($8.96) | ($19.20) | ($196.12) |
Statement_of_Consolidated_Comp
Statement of Consolidated Comprehensive Loss (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' |
Net Loss | ($83.60) | ($136.50) | ($354.40) |
Net actuarial gains (losses) and other adjustments | 70.2 | -169.1 | -3.6 |
Less amortization of prior losses | 9.6 | 9 | 9.6 |
Changes in foreign currency translation adjustments | -2.4 | 1.8 | -0.5 |
Other comprehensive income (loss) | 77.4 | -158.3 | 5.5 |
Less comprehensive income (loss) attributable to non-controlling interest | 0 | 3.9 | -3.1 |
Comprehensive loss attributable to YRC Worldwide Inc. | ($6.20) | ($298.70) | ($345.80) |
Statements_Of_Consolidated_Cas
Statements Of Consolidated Cash Flows (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating Activities: | ' | ' | ' |
Net loss | ($83.60) | ($136.50) | ($354.40) |
Noncash items included in net loss: | ' | ' | ' |
Depreciation and amortization | 172.3 | 183.8 | 195.7 |
Paid-in-kind interest on Series A Notes and Series B Notes | 29.9 | 29.2 | 13.1 |
Amortization of deferred debt costs | 7.9 | 5.6 | 23.7 |
Equity based compensation expense | 5.8 | 3.8 | 15.5 |
Deferred income tax expense (benefit) | -42.4 | 3.8 | -0.2 |
Equity investment impairment | 0 | 30.8 | 0 |
Gains on property disposals, net | 2.2 | 9.7 | 8.2 |
Fair value adjustment of derivative liabilities | 0 | 0 | 79.2 |
Gain on extinguishment of debt | 0 | 0 | -25.8 |
Restructuring transaction costs | 0 | 0 | 17.8 |
Other noncash items | 4.1 | -3.3 | -3.7 |
Changes in assets and liabilities, net: | ' | ' | ' |
Accounts receivable | -4.6 | 13.5 | -36.3 |
Accounts payable | 13.3 | 13.5 | 5 |
Other operating assets | 3.9 | 3.6 | -5.2 |
Other operating liabilities | -92.3 | -164 | 57.8 |
Net cash provided by (used in) operating activities | 12.1 | -25.9 | -26 |
Investing Activities: | ' | ' | ' |
Acquisition of property and equipment | -66.9 | -66.4 | -71.6 |
Proceeds from disposal of property and equipment | 9.8 | 50.4 | 67.5 |
Restricted escrow receipts (deposits), net | 31.8 | 33.4 | -155.9 |
Other, net | 1.8 | 2.4 | 3.4 |
Net cash provided by (used in) investing activities | -23.5 | 19.8 | -156.6 |
Financing Activities: | ' | ' | ' |
Asset backed securitization payments, net | 0 | 0 | -122.8 |
Issuance of long-term debt | 0.3 | 45 | 441.6 |
Repayment of long-term debt | -9.2 | -25.6 | -46.7 |
Debt issuance costs | -12.1 | -5.1 | -30.5 |
Equity issuance costs | 0 | 0 | -1.5 |
Net cash provided by (used in) financing activities | -21 | 14.3 | 240.1 |
Net (Decrease) Increase In Cash and Cash Equivalents | -32.4 | 8.2 | 57.5 |
Cash and Cash Equivalents, Beginning of Year | 208.7 | 200.5 | 143 |
Cash and Cash Equivalents, End of Year | 176.3 | 208.7 | 200.5 |
Supplemental Cash Flow Information: | ' | ' | ' |
Interest paid | -120.5 | -120.5 | -67.5 |
Letter of credit fees paid | -34.1 | -38 | -16.7 |
Interest deferred | 0 | 0 | 43.6 |
Income tax (payment) refund, net | 8.8 | 5.9 | -6.5 |
Lease financing transactions | 0 | 0 | 9 |
Debt redeemed for equity consideration | 35.3 | 20.3 | 8.7 |
Interest paid in stock for the 6% notes | 0 | 0 | 2.1 |
Deferred interest and fees converted to equity | $0 | $0 | $43.20 |
Statement_Of_Consolidated_Shar
Statement Of Consolidated Shareholders' Deficit (USD $) | Total | Preferred Stock [Member] | Common Stock [Member] | Capital Surplus [Member] | Capital Surplus [Member] | Capital Surplus [Member] | Capital Surplus [Member] | Accumulated Deficit [Member] | Accumulated Other Comprehensive Loss [Member] | Treasury Stock, At Cost [Member] | Noncontrolling Interest [Member] |
In Millions, unless otherwise specified | Series A Notes [Member] | Series B Notes [Member] | Six Percent Notes [Member] | ||||||||
Beginning balance at Dec. 31, 2010 | ' | $0 | ' | $1,643.70 | ' | ' | ' | ($1,520.90) | ($239.60) | ' | ($1.90) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of equity in exchange for debt and interest (net of transaction costs) | ' | 5 | ' | ' | ' | 8.7 | ' | ' | ' | ' | ' |
Conversion of preferred shares to common shares | ' | -5 | ' | 58.1 | ' | ' | ' | ' | ' | ' | ' |
Conversion feature embedded in notes | ' | ' | ' | ' | 26.5 | 106.8 | ' | ' | ' | ' | ' |
Beneficial conversion feature on preferred stock | ' | ' | ' | 58 | ' | ' | ' | ' | ' | ' | ' |
Interest paid in stock for the 6% Notes | ' | ' | ' | ' | ' | ' | 2.1 | ' | ' | ' | ' |
Equity issuance costs | ' | ' | ' | -1.5 | ' | ' | ' | ' | ' | ' | ' |
Share-based compensation | ' | ' | ' | 0.6 | ' | ' | ' | ' | ' | ' | ' |
Amortization of conversion feature on preferred stock | -58 | ' | ' | ' | ' | ' | ' | -58 | ' | ' | ' |
Net loss attributable to YRC Worldwide Inc. | -351.3 | ' | ' | ' | ' | ' | ' | -351.3 | ' | ' | ' |
Net pension gains (losses) and other adjustments | -3.6 | ' | ' | ' | ' | ' | ' | ' | -3.6 | ' | ' |
Reclassification of net losses to net income | ' | ' | ' | ' | ' | ' | ' | ' | 9.6 | ' | ' |
Changes in foreign currency translation adjustments | -0.5 | ' | ' | ' | ' | ' | ' | ' | -0.5 | ' | ' |
Net income (loss) attributable to the noncontrolling interest | -3.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3.1 |
Divestiture of subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.4 |
Ending balance at Dec. 31, 2011 | -358.5 | 0 | 0.1 | 1,903 | ' | ' | ' | -1,930.20 | -234.1 | -92.7 | -4.6 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of equity in exchange for debt and interest (net of transaction costs) | ' | 0 | ' | ' | ' | 20.3 | ' | ' | ' | ' | ' |
Conversion of preferred shares to common shares | ' | 0 | ' | 0 | ' | ' | ' | ' | ' | ' | ' |
Conversion feature embedded in notes | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | ' |
Beneficial conversion feature on preferred stock | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' |
Interest paid in stock for the 6% Notes | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Equity issuance costs | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' |
Share-based compensation | ' | ' | ' | 3.2 | ' | ' | ' | ' | ' | ' | ' |
Amortization of conversion feature on preferred stock | 0 | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' |
Net loss attributable to YRC Worldwide Inc. | -140.4 | ' | ' | ' | ' | ' | ' | -140.4 | ' | ' | ' |
Net pension gains (losses) and other adjustments | -169.1 | ' | ' | ' | ' | ' | ' | ' | -169.1 | ' | ' |
Reclassification of net losses to net income | ' | ' | ' | ' | ' | ' | ' | ' | 9 | ' | ' |
Changes in foreign currency translation adjustments | 1.8 | ' | ' | ' | ' | ' | ' | ' | 1.8 | ' | ' |
Net income (loss) attributable to the noncontrolling interest | 3.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.9 |
Divestiture of subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.7 |
Ending balance at Dec. 31, 2012 | -629.1 | 0 | 0.1 | 1,926.50 | ' | ' | ' | -2,070.60 | -392.4 | -92.7 | 0 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of equity in exchange for debt and interest (net of transaction costs) | ' | 0 | ' | ' | ' | 35.3 | ' | ' | ' | ' | ' |
Conversion of preferred shares to common shares | ' | 0 | ' | 0 | ' | ' | ' | ' | ' | ' | ' |
Conversion feature embedded in notes | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | ' |
Beneficial conversion feature on preferred stock | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' |
Interest paid in stock for the 6% Notes | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Equity issuance costs | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' |
Share-based compensation | ' | ' | ' | 2.6 | ' | ' | ' | ' | ' | ' | ' |
Amortization of conversion feature on preferred stock | 0 | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' |
Net loss attributable to YRC Worldwide Inc. | -83.6 | ' | ' | ' | ' | ' | ' | -83.6 | ' | ' | ' |
Net pension gains (losses) and other adjustments | 70.2 | ' | ' | ' | ' | ' | ' | ' | 70.2 | ' | ' |
Reclassification of net losses to net income | ' | ' | ' | ' | ' | ' | ' | ' | 9.6 | ' | ' |
Changes in foreign currency translation adjustments | -2.4 | ' | ' | ' | ' | ' | ' | ' | -2.4 | ' | ' |
Net income (loss) attributable to the noncontrolling interest | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Divestiture of subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Ending balance at Dec. 31, 2013 | ($597.40) | $0 | $0.10 | $1,964.40 | ' | ' | ' | ($2,154.20) | ($315) | ($92.70) | $0 |
Description_Of_Business
Description Of Business | 12 Months Ended | |
Dec. 31, 2013 | ||
Accounting Policies [Abstract] | ' | |
Description Of Business | ' | |
Description of Business | ||
YRC Worldwide Inc. (also referred to as “YRC Worldwide,” the “Company,” “we,” “us” or “our”), one of the largest transportation service providers in the world, is a holding company that through wholly owned operating subsidiaries and its interest in a Chinese joint venture offers its customers a wide range of transportation services. YRC Worldwide has one of the largest, most comprehensive less-than-truckload ("LTL") networks in North America with local, regional, national and international capabilities. Through its team of experienced service professionals, YRC Worldwide offers industry-leading expertise in heavyweight shipments and flexible supply chain solutions, ensuring customers can ship industrial, commercial and retail goods with confidence. Our reporting segments include the following: | ||
• | YRC Freight is the reporting segment for our transportation service providers focused on business opportunities in national, regional and international markets. YRC Freight provides for the movement of industrial, commercial and retail goods, primarily through centralized management and customer facing organizations. This unit includes our LTL subsidiary YRC Inc. (“YRC Freight”) and Reimer Express (“YRC Reimer”), a subsidiary located in Canada that specializes in shipments into, across and out of Canada. In addition to the United States and Canada, YRC Freight also serves parts of Mexico, Puerto Rico and Guam. | |
• | Regional Transportation is the reporting segment for our transportation service providers focused on business opportunities in the regional and next-day delivery markets. Regional Transportation is comprised of USF Holland Inc. (“Holland”), New Penn Motor Express (“New Penn”) and USF Reddaway Inc. (“Reddaway”). These companies each provide regional, next-day ground services in their respective regions through a network of facilities located across the United States, Canada, Mexico and Puerto Rico. | |
In 2011 we reported a Truckload reporting segment, which consisted of USF Glen Moore, Inc. ("Glen Moore"), a former domestic truckload carrier. On December 15, 2011, we sold the majority of Glen Moore's assets to a third party and concluded its operations. |
Principles_Of_Consolidation
Principles Of Consolidation | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |||||||||||||||
Principles of Consolidation | ' | |||||||||||||||
Principles of Consolidation | ||||||||||||||||
The accompanying consolidated financial statements include the accounts of YRC Worldwide and its majority owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. We report on a calendar year basis. The quarters of the Regional Transportation companies (with the exception of New Penn) consist of thirteen weeks that end on a Saturday either before or after the end of March, June and September, whereas all other operating segment quarters end on the natural calendar quarter end. Our investment in the non-majority owned affiliate in which we do not have control where the entity is either not a variable interest entity or YRC Worldwide is not the primary beneficiary is accounted for on the equity method. Other comprehensive loss attributable to our noncontrolling interest was not significant for any period presented. Management makes estimates and assumptions that affect the amounts reported in the consolidated financial statements and notes. Actual results could differ from those estimates. | ||||||||||||||||
Accounting policies refer to specific accounting principles and the methods of applying those principles to fairly present our financial position and results of operations in accordance with generally accepted accounting principles. The policies discussed below include those that management has determined to be the most appropriate in preparing our financial statements. | ||||||||||||||||
Cash and Cash Equivalents | ||||||||||||||||
Cash and cash equivalents include demand deposits and highly liquid investments purchased with maturities of three months or less. Under the Company's cash management system, checks issued but not presented to banks frequently result in book overdraft balances for accounting purposes which are classified within accounts payable in the accompanying consolidated balance sheets. The change in book overdrafts are reported as a component of operating cash flows for accounts payable as they do not represent bank overdrafts. | ||||||||||||||||
Concentration of Credit Risks and Other | ||||||||||||||||
We sell services and extend credit based on an evaluation of the customer's financial condition, without requiring collateral. Exposure to losses on receivables is principally dependent on each customer's financial condition. We monitor our exposure for credit losses and maintain allowances for anticipated losses. | ||||||||||||||||
At December 31, 2013, approximately 78% of our labor force is subject to collective bargaining agreements. As part of the 2014 Financing Transactions (which is described more fully in the "2014 Financing Transaction" footnote to our consolidated financial statements), the primary labor agreement was modified to, among other things, extend the expiration date of our previous agreement from March 31, 2015 to March 31, 2019. This extension also extended the contribution rates under our multi-employer pension plan. The modification provided for lump sum payments in lieu of wage increases in 2014 and 2015, but provided for wage increases in 2016 through 2019. We will amortize these lump sum payments over the period in which the wages will not be increased beginning on April 1, 2014. Finally, the modification provided for certain changes to work rules and our use of purchased transportation in certain situations. | ||||||||||||||||
Revenue Recognition | ||||||||||||||||
For shipments in transit, we record revenue based on the percentage of service completed as of the period end and accrue delivery costs as incurred. The percentage of service completed for each shipment is based on how far along in the shipment cycle each shipment is in relation to standard transit days. Standard transit days are defined as our published service days between origin zip code and destination zip code. Based on historical cost and engineering studies, certain percentages of revenue are determined to be earned during each stage of the shipment cycle, such as initial pick up, long distance transportation, intermediate transfer and customer delivery. Using standard transit times, we analyze each shipment in transit at a particular period end to determine what stage the shipment is in. We apply that stage's percentage of revenue earned factor to the rated revenue for that shipment to determine the revenue dollars earned by that shipment in the current period. The total revenue earned is accumulated for all shipments in transit at a particular period end and recorded as operating revenue. | ||||||||||||||||
In addition, we recognize revenue on a gross basis because we are the primary obligors even when we use other transportation service providers who act on our behalf. We remain responsible to our customers for complete and proper shipment, including the risk of physical loss or damage of the goods and cargo claims issues. We assign pricing to bills of lading at the time of shipment based primarily on the weight, general classification of the product, the shipping destination and individual customer discounts. This process is referred to as rating. At various points throughout our process, incorrect ratings could be identified based on many factors, including weight verifications or updated customer discounts. Although the majority of rerating occurs in the same month as the original rating, a portion occurs during the following periods. We accrue a reserve for rerating based on historical trends. At December 31, 2013 and 2012, our financial statements included a rerate reserve as a reduction to “Accounts Receivable” of $9.6 million and $11.9 million, respectively. | ||||||||||||||||
Uncollectible Accounts | ||||||||||||||||
We record an allowance for doubtful accounts primarily based on historical uncollectible amounts. We also take into account known factors surrounding specific customers and overall collection trends. Our process involves performing ongoing credit evaluations of customers, including the market in which they operate and the overall economic conditions. We continually review historical trends and make adjustments to the allowance for doubtful accounts as appropriate. Our allowance for doubtful accounts totaled $9.3 million and $9.8 million as of December 31, 2013 and 2012, respectively. | ||||||||||||||||
Foreign Currency | ||||||||||||||||
Our functional currency is the U.S. dollar, whereas, our foreign operations utilize the local currency as their functional currency. Accordingly, for purposes of translating foreign subsidiary financial statements to the U.S. dollar reporting currency, assets and liabilities of our foreign operations are translated at the fiscal year end exchange rates and income and expenses are translated monthly, at the average exchange rates for each respective month, with changes recognized in other comprehensive loss. Foreign currency gains and losses resulting from foreign currency transactions resulted in a $3.7 million net gain, $2.0 million net gain and a $5.2 million net gain during 2013, 2012 and 2011, respectively, and are included in “Other nonoperating (income) expense” in the accompanying statements of consolidated operations. | ||||||||||||||||
Claims and Insurance Accruals | ||||||||||||||||
Claims and insurance accruals, both current and long-term, reflect the estimated settlement cost of claims for workers' compensation, cargo loss and damage, and property damage and liability that insurance does not cover. We establish and modify reserve estimates for workers' compensation and property damage and liability claims primarily upon actuarial analyses prepared by independent actuaries. These reserves are discounted to present value using a risk-free rate based on the year of occurrence. The risk-free rate is the U.S. Treasury rate for maturities that match the expected payout of such claims and was 0.5%, 0.4% and 0.8% for workers' compensation claims incurred as of December 31, 2013, 2012 and 2011, respectively. The rate was 0.3%, 0.3% and 0.5% for property damage and liability claims incurred as of December 31, 2013, 2012 and 2011, respectively. The process of determining reserve requirements utilizes historical trends and involves an evaluation of accident frequency and severity, claims management, changes in health care costs and certain future administrative costs. The effect of future inflation for costs is considered in the actuarial analysis. Adjustments to previously established reserves are included in operating results in the year of adjustment. As of December 31, 2013 and 2012, we had $400.4 million and $437.3 million, respectively, accrued for claims and insurance. | ||||||||||||||||
Expected aggregate undiscounted amounts and material changes to these amounts as of December 31 are presented below: | ||||||||||||||||
(in millions) | Workers' | Property Damage and Liability Claims | Total | |||||||||||||
Compensation | ||||||||||||||||
Undiscounted amount at December 31, 2011 | $ | 449.6 | $ | 79.9 | $ | 529.5 | ||||||||||
Estimated settlement cost for 2012 claims | 100.4 | 27.4 | 127.8 | |||||||||||||
Claim payments, net of recoveries | (140.9 | ) | (43.7 | ) | (184.6 | ) | ||||||||||
Change in estimated settlement cost for older claim years | (19.0 | ) | 1.5 | (17.5 | ) | |||||||||||
Undiscounted amount at December 31, 2012 | $ | 390.1 | $ | 65.1 | $ | 455.2 | ||||||||||
Estimated settlement cost for 2013 claims | 89.2 | 36.7 | 125.9 | |||||||||||||
Claim payments, net of recoveries | (115.6 | ) | (24.3 | ) | (139.9 | ) | ||||||||||
Change in estimated settlement cost for older claim years | (16.7 | ) | (8.7 | ) | (25.4 | ) | ||||||||||
Undiscounted settlement cost estimate at December 31, 2013 | $ | 347 | $ | 68.8 | $ | 415.8 | ||||||||||
Discounted settlement cost estimate at December 31, 2013 | $ | 316.6 | $ | 68.2 | $ | 384.8 | ||||||||||
In addition to the amounts above, settlement cost amounts for cargo claims and other insurance related amounts, none of which are discounted, totaled $15.6 million and $21.0 million at December 31, 2013 and 2012, respectively. | ||||||||||||||||
Estimated cash payments to settle claims which were incurred on or before December 31, 2013, for the next five years and thereafter are as follows: | ||||||||||||||||
(in millions) | Workers' | Property Damage and Liability Claims | Total | |||||||||||||
Compensation | ||||||||||||||||
2014 | $ | 84.3 | $ | 23.2 | $ | 107.5 | ||||||||||
2015 | 59 | 18.6 | 77.6 | |||||||||||||
2016 | 41.5 | 13.7 | 55.2 | |||||||||||||
2017 | 30.2 | 6.9 | 37.1 | |||||||||||||
2018 | 22.8 | 3.9 | 26.7 | |||||||||||||
Thereafter | 109.2 | 2.5 | 111.7 | |||||||||||||
Total | $ | 347 | $ | 68.8 | $ | 415.8 | ||||||||||
Stock Compensation Plans | ||||||||||||||||
We have various stock-based employee compensation plans, which are described more fully in the "Stock Compensation Plans" footnote to our consolidated financial statements. We recognize compensation costs for non-vested shares and compensation cost for all share-based payments (i.e., options) based on the grant date fair value. Additionally, we recognize compensation cost for all share-based payments granted on a straight-line basis over the requisite service period (generally three to four years) based on the grant-date fair value. | ||||||||||||||||
Property and Equipment | ||||||||||||||||
The following is a summary of the components of our property and equipment at cost as of December 31: | ||||||||||||||||
(in millions) | 2013 | 2012 | ||||||||||||||
Land | $ | 267.8 | $ | 269.6 | ||||||||||||
Structures | 810.4 | 825.8 | ||||||||||||||
Revenue equipment | 1,438.30 | 1,442.80 | ||||||||||||||
Technology equipment and software | 133.9 | 127 | ||||||||||||||
Other | 193.8 | 203.8 | ||||||||||||||
Total cost | $ | 2,844.20 | $ | 2,869.00 | ||||||||||||
We carry property and equipment at cost less accumulated depreciation. We compute depreciation using the straight-line method based on the following service lives: | ||||||||||||||||
Years | ||||||||||||||||
Structures | 30-Oct | |||||||||||||||
Revenue equipment | 20-Oct | |||||||||||||||
Technology equipment and software | 7-Mar | |||||||||||||||
Other | 10-Mar | |||||||||||||||
We charge maintenance and repairs to expense as incurred and betterments are capitalized. Leasehold improvements are capitalized and amortized over the remaining lease term. | ||||||||||||||||
Our investment in technology equipment and software consists primarily of customer service and freight management equipment and related software. | ||||||||||||||||
For the years ended December 31, 2013, 2012 and 2011, depreciation expense was $153.8 million, $165.2 million, and $173.8 million, respectively. | ||||||||||||||||
The cost of replacement tires are expensed at the time those tires are placed into service, as is the case with other repair and maintenance costs. The cost of tires on newly acquired revenue equipment is capitalized and depreciated over the estimated useful life of the related equipment. | ||||||||||||||||
Impairment of Long-Lived Assets | ||||||||||||||||
If facts and circumstances indicate that the carrying amount of held-and-used identifiable amortizable intangibles and property, plant and equipment may be impaired, we perform an evaluation of recoverability in accordance with FASB ASC Topic 360. Our evaluation compares the estimated future undiscounted cash flows associated with the asset or asset group to its carrying amount to determine if a reduction to the carrying amount is required. The carrying amount of an impaired asset would be reduced to fair value if the estimated undiscounted cash flows are insufficient to recover the carrying value of the asset group. We performed impairment reviews for held-and-used long-lived assets during the years ended December 31, 2013, 2012 and 2011 in connection with an update of our internal business forecasts that considered current economic conditions and results of operations. | ||||||||||||||||
Impairment of Equity Method Investments | ||||||||||||||||
During the year ended December 31, 2012, we determined that the estimated fair value of JHJ International Transportation Company, Ltd ("JHJ"), a 50% owned equity investment, did not exceed its carrying amount and resulted in an impairment charge of $30.8 million. This determination was based upon market information we obtained in the fourth quarter of 2012 (a Level 3 fair value measurement). This impairment charge was recorded in equity investment impairment in the "Corporate and Other" segment in the accompanying statements of consolidated operations. | ||||||||||||||||
During the year ended December 31, 2011, we determined the estimated fair value of Jiayu, a 65% owned equity investment at the time, did not exceed its carrying amount and resulted in an impairment charge of $1.3 million on the property, plant and equipment, primarily based on the used revenue equipment market in China (a Level 3 fair value measurement), and $2.7 million on the intangibles. These impairment charges were recorded in depreciation and amortization in the "Corporate and Other" segment in the accompanying statements of consolidated operations for the year ended December 31, 2011. | ||||||||||||||||
Assets Held for Sale | ||||||||||||||||
When we plan to dispose of property or equipment by sale, the asset is carried in the financial statements at the lower of the carrying amount or estimated fair value, less cost to sell, and is reclassified to assets held for sale. Additionally, after such reclassification, there is no further depreciation taken on the asset. For an asset to be classified as held for sale, management must approve and commit to a formal plan, the sale should be anticipated during the ensuing year and the asset must be actively marketed, be available for immediate sale, and meet certain other specified criteria. We use level 3 inputs to determine the fair value of each property that is considered as held for sale. | ||||||||||||||||
At December 31, 2013 and December 31, 2012, the net book value of assets held for sale was approximately $17.2 million and $7.3 million, respectively. This amount is included in “Property and Equipment” in the accompanying consolidated balance sheets. We recorded charges of $3.9 million, $13.2 million and $17.9 million for the years ended December 31, 2013, 2012 and 2011, respectively, to reduce properties held for sale to estimated fair value, less cost to sell. These charges are included in “Gains on property disposals, net” in the accompanying statements of consolidated operations. | ||||||||||||||||
Earnings from Equity Method Investments | ||||||||||||||||
We account for the ownership of our joint venture under the equity method and accordingly, recognize our share of the respective joint ventures earnings in “Other nonoperating (income) expense” in the accompanying statements of operations. | ||||||||||||||||
The following reflects the components of these results for the years ended December 31: | ||||||||||||||||
(in millions) | 2013 | 2012 | 2011 | |||||||||||||
Our share of joint venture earnings | $ | (2.1 | ) | $ | (1.9 | ) | $ | (2.7 | ) | |||||||
Impairment charge | — | 30.8 | — | |||||||||||||
Net equity method (earnings) losses | $ | (2.1 | ) | $ | 28.9 | $ | (2.7 | ) | ||||||||
Fair Value of Financial Instruments | ||||||||||||||||
We determined fair value measurements used in our consolidated financial statements based upon the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity's own assumptions about market participant assumptions developed based on the best information available in circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below: | ||||||||||||||||
• | Level 1: Valuations based on quoted prices in active markets for identical assets or liabilities that the entity has the ability to access. | |||||||||||||||
• | Level 2: Valuations based on quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable data for substantially the full term of the assets or liabilities. | |||||||||||||||
• | Level 3: Valuations based on inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. | |||||||||||||||
The asset's or liability's fair value measurement level with the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used maximize the use of observable inputs and minimize the use of unobservable inputs. | ||||||||||||||||
The valuation methodologies described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. We believe that our valuation methods are appropriate and consistent with other market participants. The use of different methodologies or assumptions to determine the fair value of certain financial assets could result in a different fair value measurement at the reporting date. There have been no changes in the methodologies used at December 31, 2013 and 2012. | ||||||||||||||||
The following tables summarize the fair value hierarchy of our financial assets held at fair value on a recurring basis, which consists of our restricted cash held in escrow: | ||||||||||||||||
Fair Value Measurement at December 31, 2013 | ||||||||||||||||
(in millions) | Total Carrying | Quoted prices | Significant | Significant | ||||||||||||
Value | in active market | other | unobservable | |||||||||||||
(Level 1) | observable | inputs | ||||||||||||||
inputs (Level 2) | (Level 3) | |||||||||||||||
Restricted amounts held in escrow-current | $ | 90.1 | $ | 90.1 | $ | — | $ | — | ||||||||
Restricted amounts held in escrow-long term | 0.6 | 0.6 | — | — | ||||||||||||
Total assets at fair value | $ | 90.7 | $ | 90.7 | $ | — | $ | — | ||||||||
Fair Value Measurement at December 31, 2012 | ||||||||||||||||
(in millions) | Total Carrying | Quoted prices | Significant | Significant | ||||||||||||
Value | in active market | other | unobservable | |||||||||||||
(Level 1) | observable | inputs | ||||||||||||||
inputs (Level 2) | (Level 3) | |||||||||||||||
Restricted amounts held in escrow-current | $ | 20 | $ | 20 | $ | — | $ | — | ||||||||
Restricted amounts held in escrow-long term | 102.5 | 102.5 | — | — | ||||||||||||
Total assets at fair value | $ | 122.5 | $ | 122.5 | $ | — | $ | — | ||||||||
Restricted amounts held in escrow are invested in money market accounts and are recorded at fair value on quoted market prices. The carrying value of cash and cash equivalents, accounts receivable and accounts payable approximates their fair value due to the short-term nature of these instruments. | ||||||||||||||||
Reclassifications Out of Accumulated Other Comprehensive Loss | ||||||||||||||||
For the years ended December 31, 2013 and 2012, we reclassified the amortization of our net pension gain (loss) totaling $9.6 million and $9.0 million, respectively, from accumulated other comprehensive loss to net loss. This reclassification is a component of net periodic pension cost and is discussed in the "Employee Benefits" footnote. |
Investment
Investment | 12 Months Ended |
Dec. 31, 2013 | |
Business Combinations [Abstract] | ' |
Investment | ' |
Investment | |
Shanghai Jiayu Logistics Co., Ltd. | |
On August 19, 2008, we completed the purchase of a 65% equity interest in Shanghai Jiayu Logistics Co., Ltd. (“Jiayu”), a Shanghai, China ground transportation company with a purchase price of $59.4 million. Through March 31, 2010, we accounted for our 65% ownership interest in Jiayu as an equity method investment as the rights of the minority shareholder were considered extensive and allowed for his ability to veto many business decisions. These rights were primarily provided as a part of the General Manager role held by the minority shareholder. Effective April, 1, 2010, the minority shareholder no longer had a role in managing the operations of the business which changed the conclusions from an accounting perspective regarding the relationship of this joint venture and required that we consolidate Jiayu in our financial statements effective April 1, 2010. The results of operations for Jiayu were included in our ‘Corporate and other’ reporting segment from April 1, 2010 to February 29, 2012. In an effort to focus on our core operations, we entered into an agreement in March 2012 to sell our 65% equity interest in Jiayu to the minority shareholder. The transaction closed during the fourth quarter of 2012. At the time the agreement was entered into, management control was passed to the minority shareholder and, as a result, we deconsolidated our interest in Jiayu during March 2012 and returned to accounting for our ownership interest as an equity method investment. Based on the March 2012 agreement, we recorded our equity method investment at its estimated fair value of $0 and wrote off a $12.0 million note receivable from Jiayu. After consideration of the non-controlling interest and other factors, we recognized a loss of $4.2 million upon the deconsolidation of our investment during 2012. Additionally, the noncontrolling interest was allocated a $4.2 million gain on this transaction. |
Intangibles
Intangibles | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||
Intangibles | ' | |||||||||||||||
Intangibles | ||||||||||||||||
Definite Life Intangibles | ||||||||||||||||
The components of amortizable intangible assets are as follows at December 31: | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Weighted | Gross | Gross | ||||||||||||||
Average | Carrying | Accumulated | Carrying | Accumulated | ||||||||||||
(in millions) | Life (years) | Amount | Amortization | Amount | Amortization | |||||||||||
Customer related | 12 | $ | 197.9 | $ | (147.4 | ) | $ | 198.2 | $ | (129.1 | ) | |||||
Marketing related | 0 | 2.4 | (2.4 | ) | 2.4 | (2.4 | ) | |||||||||
Technology based | 0 | 24.2 | (24.2 | ) | 24.2 | (24.2 | ) | |||||||||
Intangible assets | $ | 224.5 | $ | (174.0 | ) | $ | 224.8 | $ | (155.7 | ) | ||||||
Amortization expense for intangible assets recognized on a straight line basis was $18.5 million, $18.6 million and $21.9 million for the years ended December 31, 2013, 2012 and 2011, respectively. Estimated amortization expense for the next five years is as follows: | ||||||||||||||||
(in millions) | 2014 | 2015 | 2016 | 2017 | 2018 | |||||||||||
Estimated amortization expense | $ | 18.6 | $ | 18.3 | $ | 13.6 | $ | — | $ | — | ||||||
Indefinite Life Intangibles | ||||||||||||||||
The following table shows the changes in the carrying amount of our indefinite lived tradenames attributable to each applicable segment: | ||||||||||||||||
(in millions) | YRC Freight | Regional Transportation | Total | |||||||||||||
Balances at December 31, 2010 | $ | 11.4 | $ | 18.7 | $ | 30.1 | ||||||||||
Change in foreign currency exchange rates | (0.2 | ) | — | (0.2 | ) | |||||||||||
Balances at December 31, 2011 | 11.2 | 18.7 | 29.9 | |||||||||||||
Change in foreign currency exchange rates | 0.2 | — | 0.2 | |||||||||||||
Balances at December 31, 2012 | 11.4 | 18.7 | 30.1 | |||||||||||||
Change in foreign currency exchange rates | (0.8 | ) | — | (0.8 | ) | |||||||||||
Balances at December 31, 2013 | $ | 10.6 | $ | 18.7 | $ | 29.3 | ||||||||||
Intangible assets with indefinite lives, which consist of our tradenames, are not subject to amortization, but are subjected to an impairment test at least annually and as triggering events may occur. The impairment test for tradenames consists of a comparison of the fair value of the tradename with its carrying amount. An impairment loss is recognized for the amount by which the carrying amount exceeds the fair value of the asset. In making this assessment, we utilized the relief from royalty method, an income approach (a level 3 fair value measurement), which includes assumptions as to future revenue, applicable royalty rate and cost of capital, among others. |
Network_Optimization
Network Optimization | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Restructuring and Related Activities [Abstract] | ' | |||||||||
Network Optimization | ' | |||||||||
In the second quarter of 2013, our YRC Freight reporting segment implemented its plan to optimize its freight network. This optimization reduced the number of handling and relay locations. Costs associated with this plan, which consist of employee separation costs and contract termination, asset impairments and other costs, are recorded at either their contractual amounts or their fair value. During the year ended December 31, 2013, we recorded $7.8 million related to these costs in the YRC Freight reporting segment. | ||||||||||
Charges for the network optimization are included in "Salaries, wages and employees' benefits" as it relates to employee separation costs and "Operating expenses and supplies" as is relates to contract termination and other costs in the accompanying statements of consolidated operations. In addition to the charges detailed below, we have recorded impairment charges on facilities that are part of the network optimization totaling $1.5 million during the year ended December 31, 2013. These charges are included in "(Gains) losses on property disposals, net" in the accompanying statements of consolidated operations. | ||||||||||
A rollforward of our restructuring accrual (which includes both our 2013 Network Optimization and our 2010 restructuring) is as follows: | ||||||||||
(in millions) | Employee | Contract Termination and Other Costs | Total | |||||||
Separation | ||||||||||
Balance at December 31, 2010 | $ | 2.6 | $ | 10.9 | $ | 13.5 | ||||
Payments | (2.6 | ) | (6.5 | ) | (9.1 | ) | ||||
Balance at December 31, 2011 | $ | — | $ | 4.4 | $ | 4.4 | ||||
Payments | — | (3.9 | ) | (3.9 | ) | |||||
Balance at December 31, 2012 | $ | — | $ | 0.5 | $ | 0.5 | ||||
Network optimization charges | 1.3 | 5 | 6.3 | |||||||
Payments | (1.1 | ) | (4.9 | ) | (6.0 | ) | ||||
Balance at December 31, 2013 | $ | 0.2 | $ | 0.6 | $ | 0.8 | ||||
Other_Assets
Other Assets | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ' | ||||||||
Other Assets | ' | ||||||||
Other Assets | |||||||||
The primary components of other assets at December 31 are as follows: | |||||||||
(in millions) | 2013 | 2012 | |||||||
Equity method investment for JHJ International Transportation Co., Ltd. | $ | 23.4 | $ | 22.3 | |||||
Deferred debt costs | 18.5 | 14.5 | |||||||
Other | 36.6 | 21.5 | |||||||
Total | $ | 78.5 | $ | 58.3 | |||||
During the years ended December 31, 2013 and 2012, we received dividends in the amount of $1.8 million and $2.4 million, respectively, from our China joint venture, JHJ International Transportation Co., Ltd. (“JHJ”). As of December 31, 2013 and 2012, the excess of our investment over our interest in JHJ's equity is $4.8 million and $4.6 million, respectively. |
Employee_Benefits
Employee Benefits | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | ||||||||||||||||||
Employee Benefits | ' | ||||||||||||||||||
Employee Benefits | |||||||||||||||||||
Qualified and Nonqualified Defined Benefit Pension Plans | |||||||||||||||||||
With the exception of Regional Transportation, YRC Reimer and certain of our other foreign subsidiaries, YRC Worldwide and its operating subsidiaries sponsor qualified and nonqualified defined benefit pension plans for certain employees not covered by collective bargaining agreements (approximately 14,000 current, former and retired employees). Qualified and nonqualified pension benefits are based on years of service and the employees' covered earnings. Employees covered by collective bargaining agreements participate in various multi-employer pension plans to which YRC Worldwide contributes, as discussed below. Regional Transportation does not offer a defined benefit pension plan and instead offers retirement benefits through either contributory 401(k) savings plans or profit sharing plans, as discussed below. The existing YRC Worldwide defined benefit pension plans closed to new participants effective January 1, 2004 and the benefit accrual for active employees was frozen effective July 1, 2008. Our actuarial valuation measurement date for our pension plans is December 31. | |||||||||||||||||||
Funded Status | |||||||||||||||||||
The reconciliation of the beginning and ending balances of the projected benefit obligation and the fair value of plan assets for the years ended December 31, 2013 and 2012, and the funded status at December 31, 2013 and 2012, is as follows: | |||||||||||||||||||
(in millions) | 2013 | 2012 | |||||||||||||||||
Change in benefit obligation: | |||||||||||||||||||
Benefit obligation at beginning of year | $ | 1,345.70 | $ | 1,166.20 | |||||||||||||||
Service cost | 4.3 | 3.9 | |||||||||||||||||
Interest cost | 56.2 | 59.3 | |||||||||||||||||
Benefits paid | (76.5 | ) | (63.1 | ) | |||||||||||||||
Actuarial (gain) loss | (131.6 | ) | 192.1 | ||||||||||||||||
Expenses paid from assets | (9.6 | ) | (12.7 | ) | |||||||||||||||
Other | 0.3 | — | |||||||||||||||||
Benefit obligation at year end | $ | 1,188.80 | $ | 1,345.70 | |||||||||||||||
Change in plan assets: | |||||||||||||||||||
Fair value of plan assets at prior year end | $ | 799.4 | $ | 727.7 | |||||||||||||||
Actual return on plan assets | 31.9 | 72.2 | |||||||||||||||||
Employer contributions | 62.9 | 75.3 | |||||||||||||||||
Benefits paid | (76.5 | ) | (63.1 | ) | |||||||||||||||
Expenses paid from assets | (9.6 | ) | (12.7 | ) | |||||||||||||||
Other | 0.3 | — | |||||||||||||||||
Fair value of plan assets at year end | $ | 808.4 | $ | 799.4 | |||||||||||||||
Funded status at year end | $ | (380.4 | ) | $ | (546.3 | ) | |||||||||||||
The underfunded status of the plans of $380.4 million and $546.3 million at December 31, 2013 and 2012, respectively, is recognized in the accompanying consolidated balance sheets as shown in the table below. No plan assets are expected to be returned to the Company during the year ending December 31, 2014. | |||||||||||||||||||
Benefit Plan Obligations | |||||||||||||||||||
Amounts recognized in the consolidated balance sheets for pension benefits at December 31 are as follows: | |||||||||||||||||||
(in millions) | 2013 | 2012 | |||||||||||||||||
Noncurrent assets | $ | 1.7 | $ | — | |||||||||||||||
Current liabilities | 0.6 | 0.6 | |||||||||||||||||
Noncurrent liabilities | 381.5 | 545.7 | |||||||||||||||||
Amounts recognized in accumulated other comprehensive loss at December 31 consist of: | |||||||||||||||||||
(in millions) | 2013 | 2012 | |||||||||||||||||
Net actuarial loss | $ | 389.2 | $ | 511.8 | |||||||||||||||
As shown above, included in accumulated other comprehensive loss at December 31, 2013, are unrecognized actuarial losses of $389.2 million ($338.4 million, net of tax). The actuarial loss included in accumulated other comprehensive income and expected to be recognized in net periodic cost during the year ending December 31, 2014, is $12.6 million. | |||||||||||||||||||
The total accumulated benefit obligation for all plans was $1,188.8 million and $1,345.7 million at December 31, 2013 and 2012, respectively. | |||||||||||||||||||
As of December 31, 2012, all of our pension plans accumulated benefit obligation (“ABO”) equal projected benefit obligation and exceed their plan assets. Information for pension plans with an ABO in excess of plan assets at December 31, 2013 is as follows: | |||||||||||||||||||
(in millions) | ABO Exceeds Assets | Assets Exceed ABO | Total | ||||||||||||||||
Projected benefit obligation | $ | 1,182.10 | $ | 5.3 | $ | 1,187.40 | |||||||||||||
Accumulated benefit obligation | 1,182.10 | 6.7 | 1,188.80 | ||||||||||||||||
Fair value of plan assets | 799.9 | 8.5 | 808.4 | ||||||||||||||||
Assumptions | |||||||||||||||||||
Weighted average actuarial assumptions used to determine benefit obligations at December 31: | |||||||||||||||||||
2013 | 2012 | ||||||||||||||||||
Discount rate | 5.23 | % | 4.28 | % | |||||||||||||||
Weighted average assumptions used to determine net periodic benefit cost for the years ended December 31: | |||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||
Discount rate | 4.28 | % | 5.23 | % | 5.79 | % | |||||||||||||
Expected rate of return on assets | 7 | % | 7 | % | 7 | % | |||||||||||||
Mortality table | RP-2000 | RP-2000 | RP-2000 Projected to 2011 | ||||||||||||||||
Projected to 2013 | Projected to 2012 | ||||||||||||||||||
The discount rate refers to the interest rate used to discount the estimated future benefit payments to their present value, also referred to as the benefit obligation. The discount rate allows us to estimate what it would cost to settle the pension obligations as of the measurement date, December 31, and is used as the interest rate factor in the following year's pension cost. We determine the discount rate by selecting a portfolio of high quality noncallable bonds such that the coupons and maturities exceed our expected benefit payments. | |||||||||||||||||||
In determining the expected rate of return on assets, we consider our historical experience in the plans' investment portfolio, historical market data and long-term historical relationships as well as a review of other objective indices including current market factors such as inflation and interest rates. Although plan investments are subject to short-term market volatility, we believe they are well diversified and closely managed. Our asset allocation as of December 31, 2013, consisted of 35% equities, 34% in debt securities and 31% in absolute return investments and as of December 31, 2012 consisted of 27% equities, 50% in debt securities and 23% in absolute return investments. The 2013 allocations are consistent with the targeted long-term asset allocation for the plans which is 33% equities, 35% debt securities and 32% absolute return investments. Based on various market factors, we selected an expected rate of return on assets of 7.0% effective for the 2013 and 2012 valuations. We will continue to review our expected long-term rate of return on an annual basis and revise appropriately. The pension trust holds no YRC Worldwide securities. | |||||||||||||||||||
Future Contributions and Benefit Payments | |||||||||||||||||||
We expect to contribute approximately $79.9 million to our single employer pension plans in 2014. | |||||||||||||||||||
Expected benefit payments from our qualified and non-qualified defined benefit pension plans for each of the next five years and the total payments for the following five years ended December 31 are as follows: | |||||||||||||||||||
(in millions) | 2014 | 2015 | 2016 | 2017 | 2018 | 2019-2023 | |||||||||||||
Expected benefit payments | $ | 70.5 | $ | 71.7 | $ | 71.7 | $ | 72 | $ | 74 | $ | 384.6 | |||||||
Pension and Other Post-retirement Costs | |||||||||||||||||||
The components of our net periodic pension cost, other post-retirement costs and other amounts recognized in other comprehensive loss for the years ended December 31, 2013, 2012 and 2011 were as follows: | |||||||||||||||||||
(in millions) | 2013 | 2012 | 2011 | ||||||||||||||||
Net periodic benefit cost: | |||||||||||||||||||
Service cost | $ | 4.3 | $ | 3.9 | $ | 3.6 | |||||||||||||
Interest cost | 56.2 | 59.3 | 61.2 | ||||||||||||||||
Expected return on plan assets | (55.6 | ) | (51.1 | ) | (43.0 | ) | |||||||||||||
Amortization of prior net loss | 14.8 | 9 | 9.6 | ||||||||||||||||
Net periodic pension cost | $ | 19.7 | $ | 21.1 | $ | 31.4 | |||||||||||||
Other changes in plan assets and benefit obligations recognized in other comprehensive loss: | |||||||||||||||||||
Net actuarial loss (gain) and other adjustments | $ | (107.7 | ) | $ | 170.4 | $ | 3.6 | ||||||||||||
Less amortization of prior losses | (14.8 | ) | (9.0 | ) | (9.6 | ) | |||||||||||||
Total recognized in other comprehensive loss (income) | (122.5 | ) | 161.4 | (6.0 | ) | ||||||||||||||
Total recognized in net periodic benefit cost and other comprehensive (income) loss | $ | (102.8 | ) | $ | 182.5 | $ | 25.4 | ||||||||||||
During the year ended December 31, 2013 and 2012, the income tax provision (benefit) related to amounts in other comprehensive income was $42.7 million and $(1.3) million. There was no corresponding amount in 2011. | |||||||||||||||||||
Fair Value Measurement | |||||||||||||||||||
Our pension assets are stated at fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The majority of our assets are invested in Level 2 assets of fixed income funds and absolute return investments. These funds are valued at quoted redemption values that represent the net asset values of units held at year-end which we have determined approximates fair value. | |||||||||||||||||||
Investments in private equities and absolute return funds do not have readily available market values. These estimated fair values may differ significantly from the values that would have been used had a ready market for these investments existed, and such differences could be material. Investments in hedge funds that do not have an established market are valued at net asset values as determined by the investment managers, which we have determined approximates fair value. | |||||||||||||||||||
The table below details by level, within the fair value hierarchy, the pension assets at fair value as of December 31, 2013: | |||||||||||||||||||
Pension Assets at Fair Value as of December 31, 2013 | |||||||||||||||||||
(in millions) | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||
Equities | $ | 113.3 | $ | 106.4 | $ | — | $ | 219.7 | |||||||||||
Private equities | — | — | 60.3 | 60.3 | |||||||||||||||
Fixed income: | |||||||||||||||||||
Corporate | 4.3 | 106.5 | 38.6 | 149.4 | |||||||||||||||
Government | 98 | 102.8 | — | 200.8 | |||||||||||||||
Other | 10.1 | — | — | 10.1 | |||||||||||||||
Absolute return | 6.2 | 138.6 | — | 144.8 | |||||||||||||||
Interest bearing | 23.3 | — | — | 23.3 | |||||||||||||||
Total investments | $ | 255.2 | $ | 454.3 | $ | 98.9 | $ | 808.4 | |||||||||||
Other assets, net | — | ||||||||||||||||||
Total plan assets | $ | 255.2 | $ | 454.3 | $ | 98.9 | $ | 808.4 | |||||||||||
The table below details by level, within the fair value hierarchy, the pension assets at fair value as of December 31, 2012: | |||||||||||||||||||
Pension Assets at Fair Value as of December 31, 2012 | |||||||||||||||||||
(in millions) | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||
Equities | $ | 79.9 | $ | 92.5 | — | $ | 172.4 | ||||||||||||
Private equities | — | — | 38.8 | 38.8 | |||||||||||||||
Fixed income: | |||||||||||||||||||
Corporate | 15.3 | 89.9 | 35.5 | 140.7 | |||||||||||||||
Government | 109.1 | 145.2 | — | 254.3 | |||||||||||||||
Absolute return | 0.6 | 157.1 | — | 157.7 | |||||||||||||||
Interest bearing | 34 | — | — | 34 | |||||||||||||||
Total investments | $ | 238.9 | $ | 484.7 | $ | 74.3 | $ | 797.9 | |||||||||||
Other assets, net | 1.5 | ||||||||||||||||||
Total plan assets | $ | 238.9 | $ | 484.7 | $ | 74.3 | $ | 799.4 | |||||||||||
The table below presents the activity of our assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3): | |||||||||||||||||||
(in millions) | Private | Fixed income | Total Level 3 | ||||||||||||||||
Equities | |||||||||||||||||||
Balance at December 31, 2011 | $ | 29 | $ | 14.6 | $ | 43.6 | |||||||||||||
Purchases | 8.4 | 25.6 | 34 | ||||||||||||||||
Sales | (2.0 | ) | (5.2 | ) | (7.2 | ) | |||||||||||||
Unrealized gain (loss) | 3.4 | 0.5 | 3.9 | ||||||||||||||||
Balance at December 31, 2012 | $ | 38.8 | $ | 35.5 | $ | 74.3 | |||||||||||||
Purchases | 6.4 | 9.6 | 16 | ||||||||||||||||
Sales | (6.4 | ) | (5.3 | ) | (11.7 | ) | |||||||||||||
Unrealized gain (loss) | 21.5 | (1.2 | ) | 20.3 | |||||||||||||||
Balance at December 31, 2013 | $ | 60.3 | $ | 38.6 | $ | 98.9 | |||||||||||||
The following table sets forth a summary of the Level 3 assets for which the fair value is not readily determinable but a reported NAV is used to estimate the fair value as of December 31, 2013: | |||||||||||||||||||
Fair value estimated using Net Asset Value per Share | |||||||||||||||||||
(in millions) | Fair Value | Unfunded Commitments | Redemption Frequency | Redemption Notice Period | |||||||||||||||
Private equities (a) | $ | 60.3 | $ | 18 | Redemptions not permitted | ||||||||||||||
Fixed income (b) | 38.6 | 16 | Redemptions not permitted | ||||||||||||||||
Total | $ | 98.9 | |||||||||||||||||
(a) | Consists of five private equity funds investing in renewable solar energy, acquisition of pharmaceutical company interests, Chinese technology and healthcare companies. | ||||||||||||||||||
(b) | Consists of three fixed income funds which invest in debt securities secured by royalty payments from marketers of pharmaceutical products. | ||||||||||||||||||
The following table sets forth a summary of the Level 3 assets for which the fair value is not readily determinable but a reported NAV is used to estimate the fair value as of December 31, 2012: | |||||||||||||||||||
Fair value estimated using Net Asset Value per Share | |||||||||||||||||||
(in millions) | Fair Value | Unfunded Commitments | Redemption Frequency | Redemption Notice Period | |||||||||||||||
Private equities (a) | $ | 38.8 | $ | 14.2 | Redemptions not permitted | ||||||||||||||
Fixed income (b) | 35.5 | 3 | Varies (c) | ||||||||||||||||
Total | $ | 74.3 | |||||||||||||||||
(a) | Consists of four private equity funds investing in renewable solar energy, acquisition of pharmaceutical company interests and Chinese technology and healthcare companies. | ||||||||||||||||||
(b) | Consists of three fixed income funds, two of which invest in debt securities secured by royalty payments from top-tier marketers of pharmaceutical products, and one which invests in Indian mezzanine debt. | ||||||||||||||||||
(c) | Redemptions are not permitted for two of the Level 3 fixed income funds. The third fund has redemption terms of quarterly after the second anniversary and a 90 day redemption notice period. | ||||||||||||||||||
The assets presented in the December 31, 2013 and 2012 fair value hierarchy tables classified as Level 1 and Level 2, which fair value is estimated using NAV per share, have redemption frequencies ranging from daily to annually, have redemption notice periods from approximately 1 day to 90 days and have no unfunded commitments. These assets consist of equity, fixed income, and absolute return funds. Generally, the investment strategies of the fixed income and equity funds is based on fundamental and quantitative analysis and consists of long and hedged strategies. The general strategy of the absolute return funds consists of alternative investment techniques, including derivative instruments and other unconventional assets, to achieve a stated return rate. | |||||||||||||||||||
Multi-Employer Pension Plans | |||||||||||||||||||
YRC Freight, New Penn, Holland and Reddaway contribute to various separate multi-employer health, welfare and pension plans for employees that are covered by our collective bargaining agreements (approximately 78% of total YRC Worldwide employees). The collective bargaining agreements determine the amounts of these contributions. The health and welfare plans provide medical related benefits to active employees and retirees. The pension plans provide defined benefits to retired participants. We recognize as net pension cost within 'salaries, wages and employee benefits' the contractually required contributions for the period and recognize as a liability any contributions due and unpaid at period end. We do not directly manage multi-employer plans. The trusts covering these plans are generally managed by trustees, half of whom the unions appoint and half of whom various contributing employers appoint. | |||||||||||||||||||
We expensed the following amounts related to these plans for the years ended December 31: | |||||||||||||||||||
(in millions) | 2013 | 2012 | 2011 | ||||||||||||||||
Health and welfare | $ | 399.5 | $ | 387.5 | $ | 378.2 | |||||||||||||
Pension | 89.1 | 85.6 | 48.7 | ||||||||||||||||
Total | $ | 488.6 | $ | 473.1 | $ | 426.9 | |||||||||||||
Pension | |||||||||||||||||||
Through the third quarter of 2009, we deferred payment of certain of our contributions to multi-employer pension funds. These deferred payments have been recognized as an operating expense and the liability was recorded as deferred contribution obligations. Beginning in the third quarter of 2009 through May 2011, most of our collective bargaining agreements provided for a temporary cessation of pension contributions so no expense or liability was required to be recognized for that period. In accordance with modifications to our collective bargaining agreements, we agreed to resume making pension contributions effective June 1, 2011 at 25.0% of the contribution rate in effect as of July 1, 2009. | |||||||||||||||||||
The following table provides additional information related to our participation in individually significant multi-employer pension plans for the year ended December 31, 2013: | |||||||||||||||||||
Pension Protection Zone Status (b) | Funding Improvement or | Employer Surcharge Imposed | Expiration Date of Collective-Bargaining Agreement | ||||||||||||||||
Rehabilitation Plan | |||||||||||||||||||
Pension Fund (a) | EIN Number | 2013 | 2012 | ||||||||||||||||
Central States, Southwest and Southwest Areas Pension Fund | 36-6044243 | Red | Red | Yes | No | 3/31/19 | |||||||||||||
Teamsters National 401K Savings Plan (c) | 52-1967784 | N/A | N/A | N/A | No | 3/31/19 | |||||||||||||
I.B. of T. Union Local No 710 Pension Fund | 36-2377656 | Green | Green | No | No | 3/31/19 | |||||||||||||
Central Pennsylvania Teamsters Defined Benefit Plan | 23-6262789 | Yellow | Green | Yes | No | 3/31/19 | |||||||||||||
Road Carriers Local 707 Pension Fund | 51-6106510 | Not Available | Red | Yes | No | 3/31/19 | |||||||||||||
Teamsters Local 641 Pension Fund | 22-6220288 | Red | Red | Yes | No | 3/31/19 | |||||||||||||
(a) The determination of individually significant multi-employer plans is based on the relative contributions to the plans over the periods presented as well as other factors. | |||||||||||||||||||
(b) The Pension Protection Zone Status is based on information that the Company obtained from the plans' Forms 5500. Unless otherwise noted, the most recent Pension Protection Act (PPA) zone status available for 2013 and 2012 is for the plan's year-end during calendar years 2012 and 2011, respectively. Among other factors, plans in the red zone are generally less than 65 percent funded, plans in the yellow zone are less than 80 percent funded, and plans in the green zone are at least 80 percent funded. | |||||||||||||||||||
(c) The policies of the Western Conference of Teamsters Pension Trust precluded the Company from reentering the plan on June 1, 2011. The plan did not assess a withdrawal liability and has not done so since June 1, 2011. Contributions related to the employees previously covered by this plan are now being made to the Teamsters National 401(k) Plan. | |||||||||||||||||||
YRC Worldwide was listed in the Central States, Southwest and Southwest Areas Pension Plan, Road Carriers Local 707 Pension Fund and Teamsters Local 641 Pension Fund's Forms 5500 as providing more than 5 percent of the total contributions for 2012 and 2011. | |||||||||||||||||||
We contributed a total of $88.7 million, $84.9 million and $45.6 million to the multi-employer pension funds for the years ended December 31, 2013, 2012 and 2011. The following table provides the pension amounts contributed by fund for those funds that are considered to be individually significant: | |||||||||||||||||||
(in millions) | 2013 | 2012 | 2011 | ||||||||||||||||
Central States, Southeast and Southwest Areas Pension Plan | $ | 52.1 | $ | 51.9 | $ | 27.6 | |||||||||||||
Teamsters National 401K Savings Plan | 11.2 | 11 | 5.8 | ||||||||||||||||
I.B. of T. Union Local No 710 Pension Fund | 4.4 | 4.1 | 2.2 | ||||||||||||||||
Central Pennsylvania Teamsters Defined Benefit Plan | 4.5 | 4.5 | 2.3 | ||||||||||||||||
Road Carriers Local 707 Pension Fund | 2.3 | 2.5 | 1.2 | ||||||||||||||||
Teamsters Local 641 Pension Fund | 1.6 | 1.6 | 0.8 | ||||||||||||||||
The comparability of annual contributions for 2011 through 2013 is primarily impacted by the temporary cessation of contributions for the period from the third quarter of 2009 through May 2011. | |||||||||||||||||||
In 2006, the Pension Protection Act became law and modified both the Internal Revenue Code (as amended, the “Code”) as it applies to multi-employer pension plans and the Employment Retirement Income Security Act of 1974 (as amended, “ERISA”). The Code and ERISA (in each case, as so modified) and related regulations establish minimum funding requirements for multi-employer pension plans. | |||||||||||||||||||
If any of our multi-employer pension plans fails to meet minimum funding requirements, meet a required funding improvement or rehabilitation plan that the Pension Protection Act may require for certain of our underfunded plans, obtain from the IRS certain changes to or a waiver of the requirements in how the applicable plan calculates its funding levels, or reduce pension benefits to a level where the requirements are met then we could be required to make additional contributions to the pension plan. If any of our multi-employer pension plans enters critical status and our contributions are not sufficient to satisfy any rehabilitation plan schedule, the Pension Protection Act could require us to make additional surcharge contributions to the multi-employer pension plan in the amount of five to ten percent of the existing contributions required by our labor agreement for the remaining term of the labor agreement. | |||||||||||||||||||
If we fail to make our required contributions to a multi-employer plan under a funding improvement or rehabilitation plan or if the benchmarks that an applicable funding improvement plan provides are not met by the end of a prescribed period, the IRS could impose an excise tax on us with respect to the plan. Such an excise tax would then be assessed to the plan's contributing employers, including the Company. These excise taxes are not contributed to the deficient funds, but rather are deposited in the United States general treasury funds. The Company does not believe that the temporary cessation of certain of its contributions to applicable multi-employer pension funds beginning in the third quarter of 2009 and continuing through May 2011 will give rise to these excise taxes as the underlying employer contributions were not required for that period. | |||||||||||||||||||
A requirement to materially increase contributions beyond our contractually agreed rate or the imposition of an excise tax on us could have a material adverse impact on the financial results and liquidity of YRC Worldwide. | |||||||||||||||||||
401(k) Savings Plans | |||||||||||||||||||
We sponsor the YRC Worldwide Inc. 401(k) Plan, which is a defined contribution plan primarily for employees that our collective bargaining agreements do not cover. The plan permits participants to make contributions to the plan and permits the employer of participants to make contributions on behalf of the participants. There were no employer contributions in 2013, 2012 or 2011. Our employees covered under collective bargaining agreements may also participate in union-sponsored 401(k) plans. | |||||||||||||||||||
Performance Incentive Awards | |||||||||||||||||||
YRC Worldwide and its operating subsidiaries each provide annual performance incentive awards and more frequent sales incentive awards to certain non-union employees, which are based primarily on actual operating results achieved compared to targeted operating results or sales targets and are paid in cash. Operating (loss) income in 2013, 2012, and 2011 included performance and sales incentive expense for non-union employees of $14.5 million, $12.3 million, and $13.9 million, respectively. We generally pay annual performance incentive awards in the first quarter of the following year and sales performance incentive awards on a monthly basis. | |||||||||||||||||||
Other | |||||||||||||||||||
We provide a performance based incentive plan to key management personnel that provides the opportunity annually to earn cash and equity awards to further compensate certain levels of management. The equity awards are more fully described in the "Stock Compensation Plans" footnote to our consolidated financial statements. During the years ended December 31, 2013, 2012 and 2011, compensation expense related to these awards was $5.8 million, $3.8 million and $0.6 million, respectively. |
2014_Financing_Transactions
2014 Financing Transactions | 0 Months Ended | 12 Months Ended | ||||||||||||||||
Feb. 13, 2014 | Dec. 31, 2013 | |||||||||||||||||
Debt Disclosure [Abstract] | ' | ' | ||||||||||||||||
2014 Financing Transactions | ' | ' | ||||||||||||||||
2014 Financing Transactions | 2011 Financial Restructuring | |||||||||||||||||
On January 31, 2014, we issued 14,333,334 shares of our Common Stock and 583,334 shares of our Convertible Preferred Stock pursuant to certain stock purchase agreements, dated as of December 22, 2013 (the “Stock Purchase Agreements”), for an aggregate $250.0 million in cash. We used the proceeds from these transactions to, among other things, (i) deposit with the trustee funds sufficient to repay our 6% Convertible Senior Notes ("6% Notes") at their maturity on February 15, 2014 and (ii) repurchase approximately $90.9 million of our Series A Convertible Senior Secured Notes ("Series A Notes"). The Company will redeem the remaining Series A Notes on August 5, 2014. In February 2014, the Company deposited approximately $89.6 million with the trustee in order to fund the redemption (including accrued interest), and thereby discharged the indenture governing the Series A Notes. | On July 22, 2011, we completed our financial restructuring that included the following transactions (collectively referred to herein as the “restructuring”): | |||||||||||||||||
Also on January 31, 2014, certain holders of our 10% Series B Convertible Senior Secured Notes ("Series B Notes") exchanged their outstanding balances (including the make-whole premium and additional accrued interest through January 15, 2014) at a conversion price of $15.00 per share, while certain other holders converted their Series B Notes in accordance with their terms. We also amended the indenture governing our Series B Notes to eliminate substantially all of the restrictive covenants, certain events of default and other related provisions contained in the indenture and to release and discharge the liens on the collateral securing the Series B Notes. | • | an exchange offer, whereby we issued to our lenders under our then-existing credit agreement an aggregate of 3.7 million shares of our new Series B Convertible Preferred Stock, which were converted into 4.6 million shares of common stock on a post split basis, and $140.0 million in aggregate principal amount of our Series A Notes in exchange for a $305.0 million reduction of our credit agreement obligations; | ||||||||||||||||
Effective January 31, 2014, certain of our subsidiaries, various pension funds party thereto, and Wilmington Trust Company, as agent for such pension funds, entered into the Second Amended and Restated Contribution Deferral Agreement ("Second A&R CDA"), which, among other things (i) amended and restated the Amended and Restated Contribution Deferral Agreement ("A&R CDA") (which agreement is discussed in our "Debt and Financing footnote"), (ii) released the agent’s security interest in third priority collateral on the Collateral Release Date (as defined therein), (iii) limited the value of obligations secured by the collateral to the Secured Obligations (as defined therein) and (iv) extended the maturity of deferred pension payments and deferred interest from March 31, 2015 to December 31, 2019. | • | the issuance and sale for cash to such lenders of $100.0 million in aggregate principal amount of our Series B Notes; | ||||||||||||||||
On February 13, 2014, we replaced our existing credit facilities (as discussed in our "Debt and Financing" footnote) with a new $450 million New ABL Facility (the "New ABL Facility") and a new $700 million term loan facility ("New Term Loan"). The New ABL Facility will be used to support our $364.6 million of outstanding letters of credit commitments as of December 31, 2013. | • | the execution of the Amended and Restated Credit Agreement, the Prior ABL Facility and an A&R CDA with certain multi-employer pension funds; | ||||||||||||||||
We refer to transactions described above collectively as the "2014 Financing Transactions." The table below summarizes the cash flow activity for the 2014 Financing Transactions: | • | the issuance of 1.3 million shares of our Series B Preferred Stock to the Teamster-National 401(k) Savings Plan for the benefit of the Company's IBT employees, which were converted into 1.6 million shares of common stock on a post split basis; | ||||||||||||||||
• | the issuance of one share of our new Series A Voting Preferred Stock to the IBT to confer certain board representation rights; | |||||||||||||||||
Cash Sources (in millions) | Cash Uses (in millions) | • | the repayment in full and termination of our then-outstanding ABS Facility and collateralizing a portion of our outstanding letters of credit with cash; and | |||||||||||||||
New Term Loan | $ | 700 | Extinguish Prior ABL Facility (includes accrued interest) | $ | 326 | |||||||||||||
• | the Teamsters National Freight Industry Negotiating Committee (“TNFINC”) of the IBT waived its right to terminate, and agreed not to further modify, the Agreement for the Restructuring of the YRC Worldwide Inc. Operating Companies, dated as of September 24, 2010 (as amended, the “2010 MOU”) such that the collective bargaining agreement will be fully binding until its specified term of March 31, 2015. | |||||||||||||||||
Proceeds from sale of common stock | 215 | Extinguish Prior Term Loan (includes accrued interest) | 299.7 | |||||||||||||||
The table below summarizes the cash flow activity as it related to the restructuring as of July 22, 2011: | ||||||||||||||||||
Proceeds from sale of preferred stock | 35 | Retire 6% Notes | 71.5 | |||||||||||||||
Cash proceeds from restricted amounts held in escrow - existing ABL facility | 90 | Repurchase Series A Notes (upon transaction closing and includes accrued interest) | 93.9 | |||||||||||||||
Sources of Funds (in millions) | Uses of Funds (in millions) | |||||||||||||||||
New ABL Facility | — | Redeem Series A Notes (on August 5, 2014 and includes accrued interest) | 89.6 | Issuance of Series B Notes | $ | 100 | Retirement of ABS facility borrowings | $ | 164.2 | |||||||||
Fees, Expenses and Original Issuance Discount | 49 | Borrowings on the Prior ABL Facility | 255 | Restricted amounts held in escrow - Standby Letter of Credit Agreement | 64.7 | |||||||||||||
Restricted Cash to Balance Sheet (a) | 90 | Additional borrowings under the revolving credit facility | 18.5 | Fees, expenses and original issue discount of restructuring | 57 | |||||||||||||
Cash to Balance Sheet | 20.3 | Company cash | 2.4 | Restricted amounts held in escrow - Prior ABL Facility | 90 | |||||||||||||
Total sources | $ | 1,040.00 | Total uses | $ | 1,040.00 | Total sources of funds | $ | 375.9 | Total uses of funds | $ | 375.9 | |||||||
(a) | Under the terms of the New ABL facility, a portion of the Cash to Balance sheet will be classified as "restricted cash" in the consolidated balance sheet. | Following the restructuring, we amended and restated our certificate of incorporation on September 16, 2011 such that, among other things, all of our outstanding Series B Preferred Stock issued in the restructuring automatically converted into shares of our common stock and effected a one-for 300 reverse stock split on December 1, 2011. | ||||||||||||||||
The table below summarizes the non-cash activity for the 2014 Financing Transactions: | Restructured Credit Agreement Claims | |||||||||||||||||
In connection with the restructuring, we exchanged $305.0 million of amounts due under our prior credit agreement for an aggregate of 3.7 million shares of Series B Preferred Stock and $140.0 million in aggregate principal amount of our Series A Notes. We estimated the fair value of the Series B Preferred Stock to be $43.2 million. We also converted the remaining prior credit agreement borrowings from the revolving credit facility to the restructured term loan, eliminated the unused revolving credit facility capacity and extended the prior credit agreement maturity date to March 31, 2015 for the $307.4 million aggregate principal amount restructured term loan and the $437.0 million letter of credit facility. | ||||||||||||||||||
Non-Cash Sources (in millions) | Non-Cash Uses (in millions) | In accordance with FASB ASC 470-60, we accounted for this element of the restructuring as a troubled debt restructuring as the Company had been experiencing financial difficulty and the lenders granted a concession to the Company. We assessed the total future cash flows of the restructured debt as compared to the carrying amount of the original debt and determined the total future cash flows to be greater than the carrying amount at the date of the restructuring. As such, the carrying amount was not adjusted and no gain was recorded, consistent with troubled debt restructuring accounting. | ||||||||||||||||
Secured Second A&R CDA | $ | 51 | A&R CDA | $ | 124 | |||||||||||||
The prior credit agreement's carryover basis was allocated to the Prior Term Loan and Series A Notes on a relative fair value basis, after taking into account the Series B Preferred Stock and the conversion feature in the Series A Notes. The difference in the effective interest rates as compared to the stated interest rates for the restructured term loan and Series A Notes is a function of the underlying fair values of the respective instruments, due to the allocation of carryover basis on a relative fair value basis. Fair values of the respective instruments were based on a contemporaneous valuation using an option pricing model, a Level 3 fair value measurement. | ||||||||||||||||||
Unsecured Second A&R CDA | 73 | Exchange/conversion of Series B Notes to common stock | 50.6 | |||||||||||||||
The fair value of the Series B Preferred Stock was based on a contemporaneous valuation, whereas an estimated enterprise value was first calculated using assumptions related to market multiples of earnings, a market approach which is a Level 3 fair value measurement. The estimated enterprise value was then reduced by the fair value of our debt instruments post-restructuring, with the residual allocated to our Series B Preferred Stock and common stock. See further discussion regarding our Series B Preferred Stock in our "Shareholders' Deficit" footnote to our consolidated financial statements. | ||||||||||||||||||
Exchange/conversion of Series B Notes to common stock | 50.6 | |||||||||||||||||
The conversion feature embedded in the Series A Notes was required to be bifurcated on the restructuring closing date and separately measured as a derivative liability, as the Company did not have enough authorized and unissued common shares to satisfy conversion of the Series A Notes. We estimated the fair value of the conversion feature based on a contemporaneous valuation using an option pricing model, a Level 3 fair value measurement, and determined the fair value to be $12.4 million. | ||||||||||||||||||
Total sources | $ | 174.6 | Total uses | $ | 174.6 | |||||||||||||
On September 16, 2011, the Company held a special meeting of shareholders at which the Company's amended and restated certificate of incorporation was approved and the number of authorized common shares increased to allow for the conversions. This increase provided sufficient authorized common shares to satisfy the conversion feature in the Series A Notes, and thus the conversion feature in the Series A Notes was no longer required to be bifurcated and presented as a derivative liability. The conversion feature was adjusted to a fair value of $26.5 million on September 16, 2011, with the change of $14.1 million recorded as 'Fair value adjustment on derivative liabilities' in the accompanying statements of consolidated operations. The fair value of the conversion feature was then reclassified as an equity-classified derivative within 'Capital surplus' in the accompanying consolidated balance sheet. | ||||||||||||||||||
In 2014, we will account for the A&R CDA maturity extension as a debt modification and the remaining transactions as extinguishment of debt and issuance of new debt. We anticipate recording a gain on extinguishment of debt of approximately $15 million associated with this transaction in the first quarter of 2014. We paid approximately $40 million of fees associated with these transactions of which approximately $25 million will be recorded as unamortized deferred debt costs in “Other assets” in the consolidated balance sheet in the first quarter of 2014 and will be recognized as interest expense over the term of the New Term Loan and New ABL Facility and approximately $15 million will offset the equity proceeds of our stock purchase agreements. | We allocated $15.6 million of professional fees to this element of the restructuring, of which $14.0 million are related to the issuance of the Series A Notes and modifications to the prior credit agreement. Such amount has been recognized as 'Nonoperating restructuring transaction costs' in the accompanying statements of consolidated operations, consistent with troubled debt restructuring accounting. The remaining $1.6 million of professional fees are allocated to the issuance of the Series B Preferred Stock and have been recorded as a reduction to 'Capital surplus' in the accompanying consolidated balance sheet. | |||||||||||||||||
$700 Million First Lien Term Loan | Prior ABL Facility and Refinancing of ABS Facility | |||||||||||||||||
- Overview: On February 13, 2014, we borrowed in full $700 million, and received in cash less a 1% discount, from a syndicate of banks and other financial institutions arranged by Credit Suisse Securities (USA) and RBS Citizens, N.A. No amounts under this New Term Loan, once repaid, may be reborrowed. Certain material provisions of the New Term Loan are summarized below: | In connection with the restructuring, the Company entered into the Prior ABL Facility, of which the Term A Facility was funded by lenders that did not participate in the ABS Facility and the Term B Facility was funded by one of the ABS Facility lenders. This element of the restructuring was accounted for as an extinguishment of debt and issuance of new debt, for the portion of Prior ABL Facility debt attributed to lenders that did not participate in the ABS Facility. For the portion of the Prior ABL Facility debt attributed to the lender that participated in the ABS Facility, this element of the transaction was being accounted for as an exchange of line-of-credit or revolving-debt arrangements. | |||||||||||||||||
- Maturity and Amortization: The New Term Loan matures on February 13, 2019. The New Term Loan will amortize in equal quarterly installments in an aggregate annual amount equal to 1% of the original principal amount of the New Term Loan commencing on the last day of the first full fiscal quarter ending after the closing date. | As a part of refinancing the ABS Facility, the lenders agreed to forgive accrued interest of $11.3 million and deferred commitment fees of $15.0 million. The forgiveness of the interest and fees along with the write-off of $1.2 million of unamortized deferred debt costs associated with the ABS Facility resulted in the recognition of a gain on the extinguishment of debt of $25.1 million. Such amount has been recognized as '(Gain) loss on extinguishment of debt' in the accompanying statements of consolidated operations. | |||||||||||||||||
- Incremental: Subject to finding current or new lenders willing to provide such commitments, the Company has the right to incur one or more increases to the New Term Loan and/or one or more new tranches of term loans (which may be unsecured or secured on a junior basis) to be made available under the New Term Loan credit agreement which shall not exceed (i) $250 million so long as the senior secured leverage ratio on a pro forma basis does not exceed 3.25 to 1.0, plus (ii) all voluntary prepayments of the New Term Loan. | We allocated $5.2 million of professional fees to this element of the restructuring. Such costs have been recorded as unamortized deferred debt costs in “Other assets” in the accompanying consolidated balance sheet and were recognized as interest expense over the term of the Prior ABL Facility. | |||||||||||||||||
- Interest and Fees: The New Term Loan bears interest, at the election of the borrower, at either the applicable London interbank offer rate ("LIBOR") (subject to a floor of 1.00%) plus a margin of 7.00% per annum, or a rate determined by reference to the alternate base rate (the greater of the prime rate established by the administrative agent, the federal fund rate plus 0.50% and one month, LIBOR plus 1.00%) plus a margin of 6.00%. | Restructured Contribution Deferral Agreement | |||||||||||||||||
- Guarantors: The obligations of the borrower under the New Term Loan are unconditionally guaranteed by certain wholly owned domestic restricted subsidiaries of the Company (the “Term Guarantors”). | ||||||||||||||||||
- Collateral: The New Term Loan is secured by a perfected first priority security interest in (subject to permitted liens) substantially all assets of the Company and the guarantors under the New Term Loan (the “Term Guarantors”), except that accounts receivable, cash, deposit accounts and other assets related to accounts receivable are subject to a second priority interest (subject to permitted liens) and certain owned real property securing the obligations under the Second A&R CDA filed January 31, 2014, do not secure the obligations under the New Term Loan credit agreement (the “CDA Collateral”). | In connection with the restructuring, we entered into the A&R CDA with certain multi-employer pension funds to which we contribute. Such amendment, among other things, revised the final maturity date from December 31, 2012 to March 31, 2015 for amounts outstanding at the date of the restructuring, converted accrued interest of $4.5 million at the time of the restructuring to principal, and increased the interest rate for the Central States Pension Fund, which represents 64.3% of the total amount outstanding under the CDA, to 7.5%. The impact of this element of the restructuring on our accompanying consolidated balance sheet was primarily limited to the reclassification of current obligations to non-current liabilities, due to the change in maturity date for all principal to March 31, 2015. | |||||||||||||||||
- Mandatory Prepayments: The New Term Loan includes the following mandatory prepayments: | ||||||||||||||||||
We allocated $3.8 million of professional fees to this element of the restructuring. Such amount has been recognized as 'Nonoperating restructuring transaction costs' in the accompanying statements of consolidated operations. | ||||||||||||||||||
• | 50% of excess cash flow (paid if permitted under the New ABL Facility), subject to step downs to (x) 25% if the total leverage ratio is less than or equal to 3.50 to 1.00 but greater than 3.00 to 1.00 and (y) 0% if the total leverage ratio is less than or equal to 3.00 to 1.00. | |||||||||||||||||
Series B Notes | ||||||||||||||||||
• | 100% of the net cash proceeds of all asset sales or similar dispositions outside of the ordinary course of business and casualty events (subject to materiality thresholds and customary reinvestment rights) | |||||||||||||||||
The conversion feature embedded in the Series B Notes was required to be bifurcated on the restructuring date and separately measured as a derivative liability, as the Company did not have enough authorized and unissued common shares to satisfy conversion of the Series B Notes. We estimated the fair value of the conversion feature based on a contemporaneous valuation using an option pricing model, a Level 3 fair value measurement, and determined the fair value to be $41.7 million. | ||||||||||||||||||
• | 100% of cash proceeds from debt issuances that are not permitted by the New Term Loan documentation. | |||||||||||||||||
On September 16, 2011, the Company held a special meeting of shareholders at which the Company's amended and restated certificate of incorporation was approved and the number of authorized common shares to allow for the conversions. This increase provided sufficient authorized common shares to satisfy the conversion feature in the Series B Notes, and thus the conversion feature in the Series B Notes was no longer required to be bifurcated and presented as a derivative liability. The conversion feature was adjusted to a fair value of $106.8 million on September 16, 2011, with the change of $65.1 million recorded as 'Fair value adjustment on derivative liabilities' in the accompanying statements of consolidated operations. The $106.8 million fair value of the conversion feature was then reclassified as an equity-classified derivative within 'Capital surplus' in the accompanying consolidated balance sheet. | ||||||||||||||||||
- Events of Default: The New Term Loan documentation contains certain customary events of default, including but not limited to the failure to make payments due under the New Term Loan, breach of and failure to cure the breach of certain covenants, the entry of a final unpaid judgment against any of the Term Guarantors in excess of $30 million, the commencement of certain insolvency proceedings, liquidations or dissolutions, a cross-default to certain other indebtedness with an outstanding aggregate principal balance of at least $30 million (other than the New ABL Facility), and cross-acceleration to the New ABL Facility. | ||||||||||||||||||
- Covenants: The New Term Loan contains certain customary affirmative and negative covenants, including, among others, covenants restricting the incurrences of debt, liens, the making of investments and repurchases, transactions with affiliates, fundamental changes and asset sales, and prepayments of junior debt. In addition, refer to the "Liquidity" footnote for financial covenants for each of the remaining test periods. | We allocated $2.1 million of professional fees to this element of the restructuring. Such costs have been recorded as unamortized deferred debt costs in “Other assets” in the accompanying consolidated balance sheet and will be recognized as interest expense over the term of the Series B Notes. | |||||||||||||||||
$450 Million ABL Facility | ||||||||||||||||||
- Overview: On February 13, 2014, we entered into the New ABL Facility which is an asset-based $450 million loan facility from a syndicate of banks arranged by RBS Citizens, N.A., Merrill Lynch, Pierce, Fenner & Smith and CIT Finance LLC. The New ABL Facility terminates on February 13, 2019 (the “Termination Date”). The Company, YRC Inc., USF Reddaway Inc., USF Holland Inc. and New Penn Motor Express, Inc. are borrowers under the New ABL Facility, and certain of the Company’s domestic subsidiaries are guarantors thereunder. Certain material provisions of the New ABL Facility are summarized below: | ||||||||||||||||||
- Availability: The aggregate amount available under the New ABL Facility is subject to a borrowing base equal to the sum of (a) 85% of the sum of (i) eligible accounts minus without duplication (ii) the dilution reserve, plus (b) 100% of eligible borrowing base cash (which constitutes cash that has been deposited from time to time in a restricted account with the agent), minus (c) the deferred revenue reserve (which constitutes 85% of the “deferred revenue liability” as reflected on the balance sheet of the Company and its restricted subsidiaries as of the last day of the most recently completed fiscal month), minus (d) the availability reserve imposed by the agent in its permitted discretion (made in good-faith and using reasonable business judgment). Upon entering the New ABL Facility on February 13, 2014, based upon the availability calculation, the New ABL Facility did not have any borrowing capacity. | ||||||||||||||||||
- Interest and Fees: Revolving loans made under the New ABL Facility bear interest, at the Company’s election, of either the applicable LIBOR rate plus 2.5% or the base rate (the greater of the prime rate established by the agent, the federal funds effective rate plus 0.50% and one month LIBOR plus 1.00%) plus 1.5% from the closing date through March 31, 2014. Thereafter, the interest rates will be subject to the following price grid based on the average quarterly excess availability under the revolver: | ||||||||||||||||||
Average Quarterly | Base Rate | LIBOR | ||||||||||||||||
Level | Excess Capacity | Plus | Plus | |||||||||||||||
I | > $140,000,000 | 1.00% | 2.00% | |||||||||||||||
II | > $70,000,000 | 1.25% | 2.25% | |||||||||||||||
< $140,000,000 | ||||||||||||||||||
III | < $70,000,000 | 1.50% | 2.50% | |||||||||||||||
The rates set forth above are subject to a 0.25% reduction during any fiscal quarter for which the Company has a total leverage ratio of less than 2.50 to 1.00. | ||||||||||||||||||
- Fees: Fees in respect of the New ABL Facility include: (i) an unused line fee payable quarterly in arrears calculated by multiplying the amount by which the commitments exceed the loans and letters of credit for any calendar quarter by the unused line fee percentage (such unused line fee percentage initially to 0.250% per annum through March 31, 2014, and thereafter 0.375% per annum if the average revolver usage is less than 50% or 0.250% per annum if the average revolver usage is greater than 50%); (ii) fees for the letter of credit facility payable quarterly in arrears which are comprised of the applicable margin in effect for LIBOR loans multiplied by the average daily stated amount of letters of credit; (iii) fronting fees for letters of credit payable quarterly in arrears equal to 0.125% of the stated amount of the letters of credit; (vi) fees to issuing banks to compensate for customary charges related to the issuance and administration of letters of credit; and (v) such fees as set forth in the fee letter arrangement dated as of February 13, 2014 by and between the agent and the Company | ||||||||||||||||||
- Collateral: The obligations under the New ABL Facility are secured by a perfected first priority security interest in (subject to permitted liens) all accounts receivable, cash, deposit accounts and other assets related to accounts receivable of the Company and the other loan parties and an additional second priority security interest in (subject to permitted liens) substantially all remaining assets of the borrowers and the guarantors other than CDA Collateral. | ||||||||||||||||||
- Incremental: The New ABL Facility provides for a $100 million uncommitted accordion to increase the revolving commitment in the future to support borrowing base growth. | ||||||||||||||||||
- Events of Default: The New ABL Facility contains certain customary events of default, including but not limited to the failure to make payments due under the New ABL Facility, breach of and failure to cure the breach of certain covenants, the entry of a final unpaid judgment against any of the New ABL Facility loan parties in excess of $30 million, the commencement of any insolvency proceeding, liquidation or dissolution, and a cross-default to certain other indebtedness with an outstanding aggregate principal balance of at least $30 million (including the New Term Loan). | ||||||||||||||||||
- Covenants: The New ABL Facility contains certain customary affirmative and negative covenants (including certain customary provisions regarding borrowing base reporting, and including, among others, covenants restricting the incurrences of debt, liens, the making of investments and repurchases, transactions with affiliates, fundamental changes and asset sales, and prepayments of junior debt). Certain of the covenants relating to investments, restricted payments and capital expenditures are relaxed upon meeting specified payment conditions or debt repayment conditions, as applicable. Payment conditions include (i) the absence of an event of default arising from such transaction, (ii) liquidity of at least $100 million or availability of at least $67.5 million and (iii) the Consolidated Fixed Charge Coverage Ratio for the most recent term period on a pro forma basis is equal to or greater than 1.10 to 1.00). Debt repayment conditions include (i) the absence of an event of default from repaying such debt and (ii) availability on the date of repayment is not less than $67.5 million. During any period commencing when the New ABL Facility borrowers fail to maintain availability in an amount at least equal to 10% of the collateral line cap and until the borrowers have maintained availability of at least 10% of the collateral line cap for 30 consecutive calendar days, the New ABL Facility loan parties are required to maintain a Consolidated Fixed Charge Coverage Ratio of at least 1.10 to 1.00. The “Consolidated Fixed Charge Coverage Ratio” is defined as (a) (i) consolidated adjusted EBITDA for such period, minus (ii) capital expenditures made during such period, minus (iii) the aggregate amount of net cash taxes paid in cash during such period, minus (iv) the amount, if any, by which the cash pension contribution for such period exceeds the pension expense for such period, and plus (v) the amount, if any, by which the pension expense for such period exceeds the cash pension contribution for such period, divided by (b) the consolidated fixed charges for such period. In addition, refer to the "Liquidity" footnote for covenants for each of the remaining test periods. |
Debt_And_Financing
Debt And Financing | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Debt and Financing | ' | ||||||||||||||||||||||||
Debt and Financing | |||||||||||||||||||||||||
As of December 31, 2013 we had two primary credit facilities that we utilized to support our liquidity needs: the amended and restated credit agreement and an asset-based lending facility (the "Prior ABL Facility," collectively referred to as our “Prior Credit Facilities”) and were also party to a number of other financing arrangements. On February 13, 2014, we completed our 2014 Financing Transactions which substantially changed the makeup of our outstanding debt. Refer to the "2014 Financing Transactions" footnote for further details. We have set forth a brief description of our two primary credit facilities and our other financing arrangements in place at December 31, 2013 below. | |||||||||||||||||||||||||
Amended and Restated Credit Agreement | |||||||||||||||||||||||||
- Overview: Our amended and restated credit agreement provided for a term loan in an aggregate principal amount of $307.4 million ("Prior Term Loan") and a letter of credit facility of up to $437.0 million. As of December 31, 2013, we had repaid $9.3 million in aggregate principal on the Prior Term Loan. Certain material provisions of the amended and restated credit agreement are summarized below: | |||||||||||||||||||||||||
- Maturity and Amortization: The Prior Term Loan and, subject to the ability to replace or substitute letters of credit, the letters of credit, would mature on March 31, 2015. The Prior Term Loan did not amortize. | |||||||||||||||||||||||||
- Interest and Fees: After giving effect to the Credit Agreement Amendment (defined below) on November 12, 2013, the Prior Term Loan, at our option, bore interest at either (x) 6.00% in excess of the alternate base rate (i.e., the greater of the prime rate and the federal funds effective rate in effect on such day plus 1/2 of 1%) in effect from time to time, or (y) 7.00% in excess of the London interbank offer rate (adjusted for maximum reserves). The London interbank offer rate was subject to a floor of 3.50% and the alternate base rate was subject to a floor of the then-applicable London interbank offer rate plus 1.0%. The stated interest rate floor of 10.0% was in effect since issuance. | |||||||||||||||||||||||||
Issued but undrawn letters of credit were subject to a participation fee equal to 8.00% of the average daily amount of letter of credit exposure. Any commitment available to be used to issue letters of credit was subject to a commitment fee of 8.00% of the average daily unused commitment. Letters of credit were subject to a 1% fronting fee or as mutually agreed between the Company and the applicable issuing bank. | |||||||||||||||||||||||||
- Collateral: The collateral securing the obligations under the credit agreement and guarantees entered into pursuant thereto included, subject to certain customary exceptions, all shares of capital stock of (or other ownership equity interests in) and intercompany debt owned by the Company and each present and future Guarantor and substantially all present and future property and assets of the Company or each Guarantor, except to the extent a security interest resulted in a breach, termination or default by the terms of the collateral being granted. | |||||||||||||||||||||||||
Pursuant to the terms under the amended and restated credit agreement, we were required to deposit an amount into escrow accounts to secure our obligations under the credit agreement. This amount totaled $0.6 million and $12.4 million as of December 31, 2013 and 2012 and is included in "Restricted amounts held in escrow," a non-current asset on the Consolidated Balance Sheet. The majority of the 2012 balance was returned as part of the November 2013 amendment discussed below. The liens on the collateral securing the obligations under the amended and restated credit agreement and guarantees entered into pursuant thereto were junior to the liens securing the obligations under the amended and restated contribution deferral agreement solely with respect to certain parcels of owned real property on which the pension funds have a senior lien and certain other customary permitted liens. | |||||||||||||||||||||||||
- Amendment: On November 12, 2013, YRC Worldwide entered into an amendment to its amended and restated credit agreement (the "Credit Agreement Amendment"), which, among other things, reset future covenants regarding minimum Consolidated EBITDA, maximum Total Leverage Ratio and minimum Interest Coverage Ratio (as defined in the Credit Agreement Amendments, if applicable) until December 31, 2014 and reset the minimum cash balance requirement. Further, the Credit Agreement Amendment, among other things, (i) included a new definition of Pro Forma Consolidated EBITDA added for the purposes of the minimum available cash requirement as described above to be calculated by adding to Consolidated EBITDA, subject to certain limitations, the amount of cost savings, operating expense reductions, other operating improvements and initiatives and synergies associated with any restructuring transactions (and implementation thereof) (but not to exceed the actual amount deducted from revenues in determining Consolidated Net Income for any such costs and expenses), in the case of each such restructuring transaction (and implementation thereof), occurring on or after November 12, 2013, and projected by us in good faith to be reasonably anticipated to be realizable within ninety (90) days of the date thereof; (ii) increased the interest rate and commitment fee payable under our credit agreement by 50 basis points (to the interest rate commitment fee set forth in "Interest and Fees" above); (iii) waived the requirement to continue to cash collateralize letters of credit with existing net cash proceeds received from asset sales up to $12.5 million (including release of such cash proceeds); (iv) required payment of an amendment fee to each consenting lender of 1.0% of their outstanding exposure; and (v) added a new “Event of Default” that required the 6% Convertible Senior Notes to be repaid, refinanced, replaced, restructured or extended on or prior to February 1, 2014 using either cash generated from the sale of qualified equity by the Borrower, certain qualified equity issuances by the Borrower or certain permitted indebtedness. Refer to the "Liquidity" footnote of our consolidated financial statements for covenants for each of the remaining test periods. On January 30, 2014, YRC Worldwide entered into a subsequent amendment to its amended and restated credit agreement, which, among other things, (i) extended the date in the “Event of Default” requirement for the repayment of the 6% Convertible Senior Notes from February 1, 2014 to February 13, 2014, (ii) eased the available cash conditions through February 13, 2014 and (iii) made certain other changes to effectuate the 2014 Financing Transactions. | |||||||||||||||||||||||||
Prior ABL Facility | |||||||||||||||||||||||||
- Overview: Our Prior ABL Facility provided for a $175.0 million ABL first-out delayed draw term loan facility (the “Term A Facility”) and a $225.0 million ABL last-out term loan facility (the “Term B Facility”). We collectively refer to these term loan facilities as our “Prior ABL Facility.” The Prior ABL Facility was to terminate on September 30, 2014 (the “Termination Date”). Pursuant to the terms of the Prior ABL Facility, YRC Freight, Holland and Reddaway (each, one of our subsidiaries and each, an “Originator”) would each sell, on an ongoing basis, all accounts receivable originated by that Originator to YRCW Receivables LLC, a bankruptcy remote, wholly owned subsidiary of the Company, which we refer to herein as the “Prior ABL Borrower." | |||||||||||||||||||||||||
- Availability: The aggregate amount available under the Prior ABL Facility was subject to a borrowing base equal to 85% of Net Eligible Receivables, plus 100% of the portion of the Prior ABL Facility that was cash collateralized, minus reserves established by the Agent in its permitted discretion. | |||||||||||||||||||||||||
- Interest and Fees: After giving effect to the ABL Credit Agreement Amendment on November 12, 2013 (described below), interest on outstanding borrowings was payable at a rate per annum equal to the reserve adjusted LIBOR rate (which is the greater of the adjusted LIBOR rate and 1.50%) or the “ABR Rate” (which was the greatest of the applicable prime rate, the federal funds rate plus 0.5%, and the LIBOR rate plus 1.0%) plus an applicable margin, which, for loans under the Term A Facility were equal to 7.50% for LIBOR rate advances and 6.50% for ABR Rate advances, and for loans under the Term B Facility are equal to 10.25% for LIBOR rate advances and 9.25% for ABR Rate advances. We were required to pay a commitment fee equal to 7.50% per annum on the average daily unused portion of the commitment in respect of the Term A Facility. | |||||||||||||||||||||||||
- Collateral: The ABL Facility was secured by a perfected first priority security interest in and lien (subject to permitted liens) upon all accounts receivable (and the related rights) of the ABL Borrower, together with deposit accounts into which the proceeds from such accounts receivable were remitted (collectively, the “ABL Collateral”). | |||||||||||||||||||||||||
Pursuant to the terms of the Prior ABL Facility, we were required to deposit an aggregate amount equal to $90.0 million into escrow accounts to secure our obligations under the Prior ABL Facility, which amounts we expected to remain in escrow for the term of the Prior ABL Facility; this amount is included in “Restricted amounts held in escrow,” a current asset on the Consolidated Balance Sheet, which includes accrued interest. Pursuant to the terms of a standstill agreement, certain trucks, other vehicles, rolling stock, terminals, depots or other storage facilities, in each case, whether leased or owned, were subject to a standstill period in favor of the collateral agent, the administrative agent and the other secured parties under the Prior ABL Facility for a period of 10 business days (absent any exigent circumstances arising as a result of fraud, theft, concealment, destruction, waste or abscondment) with respect to the exercise of rights and remedies by the secured parties with respect to those assets under our other material debt agreements. | |||||||||||||||||||||||||
- Amendment: On November 12, 2013, YRCW Receivables, LLC, a wholly-owned subsidiary of the Company, entered into an amendment to the Prior ABL Facility (the "Prior ABL Credit Agreement Amendment"), which, among other things, reset the minimum Consolidated EBITDA covenant (as defined in the Prior ABL Facility) for each of the remaining test periods in a manner identical to the amendment of minimum Consolidated EBITDA in the Prior ABL Credit Agreement Amendment and increased the interest rate payable under the ABL Facility by 50 basis points. The Company agreed to pay all consenting lenders a fee equal to 1.0% of their outstanding loans and unused commitments. | |||||||||||||||||||||||||
Series A Convertible Senior Secured Notes | |||||||||||||||||||||||||
On July 22, 2011, we issued $140.0 million in aggregate principal of our Series A Notes that bear interest at a stated rate of 10% per year and mature on March 31, 2015. Interest is payable on a semiannual basis in arrears only in-kind through the issuance of additional Series A Notes. As of December 31, 2013 and 2012, there was $177.8 million and $161.2 million in aggregate principal amount of Series A Notes outstanding, after giving effect to the payment in-kind of interest on the Series A Notes. We could redeem the Series A Notes, in whole or in part, at any time at a redemption price equal to 100% of the principal amount thereof plus accrued and unpaid interest to the redemption date. As discussed in the “2014 Refinancing” footnote, on February 13, 2014, the Company deposited approximately $89.6 million (including accrued interest) with the trustee in order to fund the redemption of the remaining Series A Notes on August 5, 2014, thereby discharging the indenture governing the Series A Notes. | |||||||||||||||||||||||||
The Series A Notes became convertible into our common stock beginning July 22, 2013. Subject to certain limitations on conversion and issuance of shares, holders can convert any outstanding Series A Notes into shares of our common stock at the conversion price per share of approximately $34.0059 and a conversion rate of 29.4067 common shares per $1,000 of the Series A Notes. See "Conversions" section below for additional details regarding conversions on our Series A Notes. | |||||||||||||||||||||||||
The holders of the Series A Notes are entitled to vote with our common stock on an as-converted-to-common-stock-basis, provided that, such number of votes shall be limited to 0.1089 votes for each such share of common stock on an as-converted-to-common stock-basis. | |||||||||||||||||||||||||
The indenture governing the Series A Notes contained covenants limiting, among other things, us and our restricted subsidiaries' ability to (i) create liens on assets and (ii) merge, consolidate or sell all or substantially all of our and our guarantors' assets. | |||||||||||||||||||||||||
The Series A Notes were guaranteed by all of our domestic subsidiaries that guarantee obligations under the amended and restated credit agreement. The Series A Notes and the guarantees of the Series A Notes were our and the guarantors' senior obligations and were secured by junior priority liens on substantially the same collateral securing the amended and restated credit agreement (other than any leasehold interests and equity interests of subsidiaries to the extent such pledge of equity interests would require increased financial statement reporting obligations pursuant to Rule 3-16 of Regulation S-X). As of December 31, 2012 and 2011, the common stock of our largest operating companies, such as YRC Inc., Holland, New Penn and Reddaway, would be excluded as collateral under these kick-out provisions. | |||||||||||||||||||||||||
Series B Convertible Senior Secured Notes | |||||||||||||||||||||||||
On July 22, 2011, we issued $100.0 million of our Series B Notes that bear interest at a stated rate of 10.0% per year and mature on March 31, 2015. Interest is payable on a semiannual basis in arrears only in-kind through the issuance of additional Series B Notes. As of December 31, 2013 and 2012, there was $69.2 million and $91.5 million in aggregate principal amount of Series B Notes outstanding, after giving effect to the payment in-kind of interest on the Series B Notes offset by $50.9 million in aggregate principal amount of Series B Notes surrendered for conversion through December 31, 2013. | |||||||||||||||||||||||||
The Series B Notes are convertible into our common stock, at any time at the conversion price per share of approximately $18.5334 and a conversion rate of 53.9567 common shares per $1,000 of the Series B Notes (such conversion price and conversion rate applying also to the Series B Notes make whole premium). Upon conversion, holders of Series B Notes will not receive any cash payment representing accrued and unpaid interest; however, such holders will receive a make whole premium, equal to the total amount of interest received if the notes were held to their maturity, paid in shares of our common stock for the Series B Notes that were converted. See "Conversions" section below for additional details regarding conversions on our Series B Notes. | |||||||||||||||||||||||||
As of December 31, 2013, the effective conversion price and conversion rate for Series B Notes (after taking into account the make whole premium) was $16.0056 and 62.4781 common shares per $1,000 of Series B Notes, respectively. | |||||||||||||||||||||||||
The holders of the Series B Notes are entitled to vote with our common stock on an as-converted-to-common-stock-basis, provided that, such number of votes shall be limited to 0.0594 votes for each such share of common stock on an as-converted-to-common-stock-basis. | |||||||||||||||||||||||||
As discussed in the “2014 Refinancing” note, we amended the indenture governing our Series B Notes to eliminate substantially all of the restrictive covenants, certain events of default and other related provisions contained in the indenture and to release and discharge the liens on the collateral securing the Series B Notes. As of December 31, 2013, the Series B Notes indenture contained customary covenants limiting, among other things, our and our restricted subsidiaries' ability to: | |||||||||||||||||||||||||
• | pay dividends or make certain other restricted payments or investments; | ||||||||||||||||||||||||
• | incur additional indebtedness and issue disqualified stock or subsidiary preferred stock; | ||||||||||||||||||||||||
• | create liens on assets; | ||||||||||||||||||||||||
• | sell assets; | ||||||||||||||||||||||||
• | merge, consolidate, or sell all or substantially all of our or the guarantors' assets; | ||||||||||||||||||||||||
• | enter into certain transactions with affiliates; and | ||||||||||||||||||||||||
• | create restrictions on dividends or other payments by our restricted subsidiaries. | ||||||||||||||||||||||||
6% Convertible Senior Notes | |||||||||||||||||||||||||
On February 11, 2010, we entered into a note purchase agreement with certain investors pursuant to which such investors agreed, subject to the terms and conditions set forth therein, to purchase up to $70 million of our notes. The outstanding 6% notes were paid at maturity on February 15, 2014. These 6% Notes bore interest at 6% which was payable on February 15 and August 15 of each year. To the extent we were not permitted to pay interest in cash under our senior secured bank credit facilities or we reasonably determine that we had insufficient funds to pay interest in cash, we were permitted to pay interest through the issuance of additional shares of our common stock subject to certain conditions. Our amended and restated credit agreement did not restrict our ability to pay cash interest to holders of the 6% Notes and we paid cash interest to holders of the 6% Notes beginning with the August 15, 2011 interest payment date and continued to make interest payments in cash in lieu of paying interest with shares of common stock as of December 31, 2013. | |||||||||||||||||||||||||
Amended and Restated Contribution Deferral Agreement | |||||||||||||||||||||||||
- Overview: Certain of our subsidiaries are parties to the A&R CDA with certain multiemployer pension funds named therein (collectively, the “Funds”) pursuant to which we are permitted to continue to defer pension payments and deferred interest owed to such Funds as of July 22, 2011 (each, “Deferred Pension Payments” and “Deferred Interest”). The A&R CDA was scheduled to mature on March 31, 2015 though the Company entered into the Second A&R CDA on January 31, 2014 which extended the maturity to December 31, 2019. There is no mandatory amortization prior to that time. The Deferred Pension Payments and Deferred Interest bears interest at a fixed rate, with respect to each Fund, per annum as set forth in its trust documentation as of February 28, 2011. | |||||||||||||||||||||||||
- Application of Certain Payments: Pursuant to the terms of the collective bargaining agreement with the IBT, the Company's subsidiaries began making contributions to the Funds for the month beginning June 1, 2011 at the rate of 25% of the contribution rate in effect on July 1, 2009. However, legislative changes to current law or other satisfactory action or arrangements are required to enable certain of the Funds (based on their funded status) to accept contributions at a reduced rate. | |||||||||||||||||||||||||
In accordance with the re-entry arrangements between each Fund and the primary obligors, a Fund may require the primary obligors to make payments of obligations owed to such Fund under the A&R CDA in lieu of payments required pursuant to the collective bargaining agreement with the IBT or make payments into an escrow arrangement, in each case in an amount equal to such Fund's current monthly contribution amount. | |||||||||||||||||||||||||
- Collateral: Under the A&R CDA, the Funds maintain their first lien on existing first priority collateral. The Funds allowed the secured parties under the Series A Notes and Series B Notes (as each are defined and described above) a second lien behind the secured parties to the credit agreement on certain properties and the Funds had a third lien on such collateral. However, under the Second A&R CDA, such third lien on certain properties was released on the collateral release date upon the occurrence of events specified therein. | |||||||||||||||||||||||||
- Most Favored Nations: If any of the obligors entered into an amendment, modification, supplementation or alteration of the amended and restated credit agreement after July 22, 2011 that imposed any mandatory prepayment, cash collateralization, additional interest or fee or any other incremental payment to the lenders thereunder not required as of July 22, 2011, the primary obligors were required to pay the Funds 50% of a proportionate additional payment in respect of the Deferred Pension Payments and Deferred Interest, with certain exceptions. The Second A&R CDA removed this requirement. | |||||||||||||||||||||||||
- Guarantors: The A&R CDA was guaranteed by Glen Moore and Transcontinental Lease, S. de R.L. de C.V. The Second A&R CDA released Glen Moore from such guarantee. | |||||||||||||||||||||||||
Standby Letter of Credit Agreement | |||||||||||||||||||||||||
On July 22, 2011, we entered into a Standby Letter of Credit Agreement with Wells Fargo, National Association (“Wells Fargo”) pursuant to which Wells Fargo issued one replacement letter of credit and permitted an existing letter of credit to remain outstanding and we pledged certain deposit accounts and securities accounts (collectively, the “Pledged Accounts”) to Wells Fargo to secure its obligations in respect of the letters of credit. As of December 31, 2013, we had no standby letters of credit under this agreement outstanding. | |||||||||||||||||||||||||
Total Debt Outstanding | |||||||||||||||||||||||||
As of December 31, 2013 (in millions) | Par Value | Premium/ | Book | Stated | Effective | ||||||||||||||||||||
(Discount) | Value | Interest Rate | Interest Rate | ||||||||||||||||||||||
Prior Term Loan | $ | 298.1 | $ | 37.7 | $ | 335.8 | 10 | % | — | % | |||||||||||||||
Term A Facility (capacity $175.0, borrowing base $156.5, availability $51.5)* | 105 | (2.1 | ) | 102.9 | 8.5 | % | 15.8 | % | |||||||||||||||||
Term B Facility (capacity $219.9, borrowing base $219.9, availability $0.0) | 219.9 | (3.9 | ) | 216 | 11.25 | % | 15 | % | |||||||||||||||||
Series A Notes | 177.8 | (17.8 | ) | 160 | 10 | % | 18.3 | % | |||||||||||||||||
Series B Notes | 69.2 | (10.5 | ) | 58.7 | 10 | % | 25.6 | % | |||||||||||||||||
6% Notes | 69.4 | (1.1 | ) | 68.3 | 6 | % | 15.5 | % | |||||||||||||||||
A&R CDA | 124.2 | (0.2 | ) | 124 | 3.25-18.25% | 7.3 | % | ||||||||||||||||||
Lease financing obligations | 297.5 | — | 297.5 | 10.0-18.2% | 11.9 | % | |||||||||||||||||||
Other | 0.2 | — | 0.2 | ||||||||||||||||||||||
Total debt | $ | 1,361.30 | $ | 2.1 | $ | 1,363.40 | |||||||||||||||||||
Current maturities of lease financing obligations | (8.4 | ) | — | (8.4 | ) | ||||||||||||||||||||
Current maturities of other | (0.2 | ) | — | (0.2 | ) | ||||||||||||||||||||
Long-term debt | $ | 1,352.70 | $ | 2.1 | $ | 1,354.80 | |||||||||||||||||||
*The effective interest rate on the Term A Facility is calculated based upon the capacity of the facility and not the par value. | |||||||||||||||||||||||||
As of December 31, 2012 (in millions) | Par Value | Premium/ | Book | Stated | Effective | ||||||||||||||||||||
(Discount) | Value | Interest Rate | Interest Rate | ||||||||||||||||||||||
Prior Term Loan | $ | 298.7 | $ | 67.6 | $ | 366.3 | 10 | % | — | % | |||||||||||||||
Term A Facility (capacity $175.0, borrowing base $147.6, availability $42.6)* | 105 | (4.8 | ) | 100.2 | 8.5 | % | 15.8 | % | |||||||||||||||||
Term B Facility (capacity $222.2, borrowing base $222.2, availability $0.0) | 222.2 | (8.5 | ) | 213.7 | 11.25 | % | 15 | % | |||||||||||||||||
Series A Notes | 161.2 | (27.8 | ) | 133.4 | 10 | % | 18.3 | % | |||||||||||||||||
Series B Notes | 91.5 | (25.4 | ) | 66.1 | 10 | % | 25.6 | % | |||||||||||||||||
6% Notes | 69.4 | (6.3 | ) | 63.1 | 6 | % | 15.5 | % | |||||||||||||||||
A&R CDA | 125.8 | (0.4 | ) | 125.4 | 3.0-18.0% | 7.1 | % | ||||||||||||||||||
Lease financing obligations | 306.9 | — | 306.9 | 10.0-18.2% | 11.9 | % | |||||||||||||||||||
Other | 0.3 | — | 0.3 | ||||||||||||||||||||||
Total debt | $ | 1,381.00 | $ | (5.6 | ) | $ | 1,375.40 | ||||||||||||||||||
Current maturities of ABL facility – Term B | (2.3 | ) | — | (2.3 | ) | ||||||||||||||||||||
Current maturities of 5.0% and 3.375% contingent convertible senior notes and other | (6.5 | ) | — | (6.5 | ) | ||||||||||||||||||||
Current maturities of lease financing obligations | (0.3 | ) | — | (0.3 | ) | ||||||||||||||||||||
Long-term debt | $ | 1,371.90 | $ | (5.6 | ) | $ | 1,366.30 | ||||||||||||||||||
*The effective interest rate on the Term A Facility is calculated based upon the capacity of the facility and not the par value. | |||||||||||||||||||||||||
Conversions | |||||||||||||||||||||||||
During the year ended December 31, 2013, $29.1 million of aggregate principal amount of Series B Notes converted into 1.9 million shares of our common stock. Upon conversion, during the year ended December 31, 2013, we recorded $15.2 million of additional interest expense representing the $6.6 million make whole premium and $8.6 million of accelerated amortization of the discount on Series B Notes converted. As of December 31, 2013, the effective conversion price and conversion rate for Series B Notes (after taking into account the make whole premium) was $16.0056 and 62.4781 common shares per $1,000 of Series B Notes, respectively. | |||||||||||||||||||||||||
As of December 31, 2013, there was $177.8 million in aggregate principal amount of Series A Notes outstanding that was convertible into approximately 5.6 million shares of our common stock at the maturity date. As discussed in the "2014 Financing Transactions" footnote, on January 31, 2014, we repurchased approximately $90.9 million of our Series A Notes. The Company will redeem the remaining Series A Notes on August 5, 2014. In February 2014, the Company deposited approximately $89.6 million with the trustee in order to fund the redemption. There were no conversions of our Series A Notes as of December 31, 2013 and from December 31, 2013 through March 4, 2014. | |||||||||||||||||||||||||
As of December 31, 2013, there was $69.2 million in aggregate principal amount of Series B Notes outstanding that was convertible into approximately 4.2 million shares of our common stock (after taking into account the make whole premium). As discussed in the "2014 Financing Transactions" footnote, on January 31, 2014, certain holders of our Series B Notes exchanged their outstanding balances as part of an exchange agreement. Outside of these exchange agreements, from December 31, 2013 through March 4, 2014, $1.2 million aggregate principal amount of Series B Notes converted into 75,900 shares of common stock. | |||||||||||||||||||||||||
As of December 31, 2013, a maximum of 17,600 shares of our common stock were available for future issuances in respect of the 6% Notes. As discussed in the "2014 Financing Transactions" footnote we repaid our 6% Notes on February 15, 2014. | |||||||||||||||||||||||||
Maturities | |||||||||||||||||||||||||
The principal maturities over the next five years and thereafter of total debt as of December 31, 2013 was as follows: | |||||||||||||||||||||||||
Prior Term | Prior ABL Facility (c) | Series A and B Notes (b) | 6% | Lease Financing Obligation (a) | A&R CDA | Other | Total | ||||||||||||||||||
(in millions) | Loan | Notes (c) | |||||||||||||||||||||||
2014 | $ | — | $ | 324.9 | $ | — | $ | 69.4 | $ | 8.4 | $ | — | $ | 0.2 | $ | 402.9 | |||||||||
2015 | 298.1 | — | 247 | — | 7.7 | 124.2 | — | 677 | |||||||||||||||||
2016 | — | — | — | — | 9.5 | — | — | 9.5 | |||||||||||||||||
2017 | — | — | — | — | 11.4 | — | — | 11.4 | |||||||||||||||||
2018 | — | — | — | — | 13.6 | — | — | 13.6 | |||||||||||||||||
Thereafter | — | — | — | — | 246.9 | — | — | 246.9 | |||||||||||||||||
Total | $ | 298.1 | $ | 324.9 | $ | 247 | $ | 69.4 | $ | 297.5 | $ | 124.2 | $ | 0.2 | $ | 1,361.30 | |||||||||
(a) | Lease financing obligations subsequent to 2018 of $246.9 million represent principal cash obligations of $23.8 million and the estimated net book value of the underlying assets at the expiration of their associated lease agreements of $223.1 million. | ||||||||||||||||||||||||
(b) | The Series A Notes exclude $13.4 million and the Series B Notes exclude $9.0 million of in-kind interest payments that will be due and payable if the notes are held to maturity. | ||||||||||||||||||||||||
(c) | The Prior ABL Facility and 6% Notes were included in long-term liabilities on the Consolidated Balance Sheet as they were repaid with long-term financing as part of the 2014 Financing Transactions. | ||||||||||||||||||||||||
On February 13, 2014, we completed the 2014 Financing Transactions which will change our maturity of certain portions of our outstanding debt. Please refer to the "2014 Financing Transactions" footnote for more details. | |||||||||||||||||||||||||
Fair Value Measurement | |||||||||||||||||||||||||
The carrying amounts and estimated fair values of our long-term debt, including current maturities and other financial instruments, are summarized as follows: | |||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||
(in millions) | Carrying amount | Fair Value | Carrying amount | Fair Value | |||||||||||||||||||||
Prior Term Loan | $ | 335.8 | $ | 289.2 | $ | 366.3 | $ | 197.5 | |||||||||||||||||
Prior ABL Facility | 318.9 | 326.1 | 313.9 | 325.8 | |||||||||||||||||||||
Series A Notes and Series B Notes | 218.7 | 225.8 | 199.5 | 81.5 | |||||||||||||||||||||
Lease financing obligations | 297.5 | 297.5 | 306.9 | 306.9 | |||||||||||||||||||||
Other | 192.5 | 179.8 | 188.8 | 99.5 | |||||||||||||||||||||
Total debt | $ | 1,363.40 | $ | 1,318.40 | $ | 1,375.40 | $ | 1,011.20 | |||||||||||||||||
The fair values of the Prior Term Loan, Prior ABL Facility, Series A and Series B Notes, 6% Notes (included in “Other” above) and A&R CDA (included in “Other” above) were estimated based on observable prices (level two inputs for fair value measurements). The carrying amount of the lease financing obligations approximates fair value. |
Liquidity
Liquidity | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Liquidity [Abstract] | ' | ||||
Liquidity | ' | ||||
Liquidity | |||||
For a description of our outstanding debt as of December 31, 2013, please refer the "Debt and Financing" footnote to our consolidated financial statements. | |||||
Credit Facility Covenants | |||||
On November 12, 2013, YRC Worldwide entered into amendments to its amended and restated credit agreement (the "Credit Agreement Amendment") and its then-existing ABL facility (together the "Amendments"), which, among other things, reset future covenants regarding minimum Consolidated EBITDA, maximum Total Leverage Ratio and minimum Interest Coverage Ratio (as defined in Amendments, if applicable) until December 31, 2014 and resets the minimum cash balance requirement. We were in compliance with all of our covenants as of December 31, 2013. | |||||
Consolidated Adjusted EBITDA, as defined in our New Term Loan credit agreement, was a measure that reflects our earnings before interest, taxes, depreciation, and amortization expense, and is further adjusted for, among other things, letter of credit fees, equity-based compensation expense, net gains or losses on property disposals and certain other items, including restructuring professional fees, expenses associated with certain lump sum payments to our IBT employees and the results of permitted dispositions and discontinued operations. | |||||
On February 13, 2014, we completed our 2014 Financing Transactions and refinanced the debt associated with our prior credit facilities. We entered into a New Term Loan credit agreement with new financial covenants that, among other things, restricts certain capital expenditures and requires us to maintain a maximum total leverage ratio (defined as consolidated total debt divided by consolidated adjusted EBITDA) for future test periods as follows: | |||||
Four Consecutive Fiscal Quarters Ending | Maximum Total | Four Consecutive Fiscal Quarters Ending | Maximum Total | ||
Leverage Ratio | Leverage Ratio | ||||
June 30, 2014 | 6.00 to 1.00 | June 30, 2016 | 3.50 to 1.00 | ||
September 30, 2014 | 5.00 to 1.00 | September 30, 2016 | 3.50 to 1.00 | ||
December 31, 2014 | 4.50 to 1.00 | December 31, 2016 | 3.25 to 1.00 | ||
March 31, 2015 | 4.00 to 1.00 | March 31, 2017 | 3.25 to 1.00 | ||
June 30, 2015 | 3.75 to 1.00 | June 30, 2017 | 3.25 to 1.00 | ||
September 30, 2015 | 3.75 to 1.00 | September 30, 2017 | 3.25 to 1.00 | ||
December 31, 2015 | 3.75 to 1.00 | December 31, 2017 and thereafter | 3.00 to 1.00 | ||
March 31, 2016 | 3.50 to 1.00 | ||||
In addition, we entered into the New ABL Facility credit agreement which, among other things, restricts certain capital expenditures and requires that the Company, in effect, maintain availability of at least 10% of the lesser of the aggregate amount of commitments from all lenders or the borrowing base. Upon entering the New ABL Facility on February 13, 2014, based upon the availability calculation, the New ABL Facility did not have any borrowing capacity. | |||||
We believe that our results of operations will be sufficient to allow us to comply with the covenants in our new credit agreement, fund our operations, increase working capital as necessary to support our planned revenue growth and fund capital expenditures for the foreseeable future, including the next twelve months. | |||||
In the event that we fail to comply with any New Term Loan covenant or any New ABL Facility covenant, we would be considered in default, which would enable applicable lenders to accelerate the repayment of amounts outstanding, require the cash collateralization of letters of credit (in the case of the New ABL Facility) and exercise remedies with respect to collateral and we would need to seek an amendment or waiver from the applicable lender groups. In the event that our lenders under our New Term Loan or New ABL Facility demand payment or cash collateralization (in the case of the New ABL Facility), we will not have sufficient cash to repay such indebtedness. In addition, a default under our New Term Loan or New ABL Facility or the applicable lenders exercising their remedies thereunder would trigger cross-default provisions in our other indebtedness and certain other operating agreements. Our ability to amend our New Term Loan or our New ABL Facility or otherwise obtain waivers from the applicable lenders depends on matters that are outside of our control and there can be no assurance that we will be successful in that regard. | |||||
Risk and Uncertainties Regarding Future Liquidity | |||||
Our principal sources of liquidity are cash and cash equivalents, any prospective cash flow from operations and, as of December 31, 2013, available borrowings under our $400 million Prior ABL Facility. As of December 31, 2013, we had cash and cash equivalents and availability under the Prior ABL Facility of $227.8 million and the borrowing base under our Prior ABL Facility was $376.4 million. As part of our 2014 Financing Transactions, we replaced our Prior ABL facility with a $450 million New ABL Facility. Refer to the "2014 Financing Transactions" footnote for more details. | |||||
Our principal uses of cash are to fund our operations, including making contributions to our single-employer pension plans and our multi-employer pension funds, and to meet our other cash obligations, including but not limited to paying cash interest and principal on our funded debt, letter of credit fees under our credit facilities and funding capital expenditures and lease payments for operating equipment. For the year ended December 31, 2013, our cash flow from operating activities provided net cash of $12.1 million. | |||||
We have a considerable amount of indebtedness. As of December 31, 2013, we had $1,363.4 million in aggregate principal amount of outstanding indebtedness. Our 2014 Financing Transactions reduced our outstanding indebtedness and extended the maturities for a substantial portion of our debt to 2019. Refer to the "2014 Financing Transactions" footnote for more details. | |||||
We also have a considerable amount of future funding obligations for our single-employer pension plans and the multi-employer pension funds. We expect our funding obligations for 2014 for our single-employer pension plans and multi-employer pension funds will be $79.9 million and $88.7 million, respectively. In addition, we also have, and will continue to have, substantial operating lease obligations. As of December 31, 2013, our operating lease obligations for 2014 are $56.1 million. | |||||
Our capital expenditures for the years ended December 31, 2013 and 2012 were $66.9 million and $66.4 million, respectively. These amounts were principally used to fund replacement engines and trailer refurbishments for our revenue fleet, capitalized costs for our network facilities and technology infrastructure. Additionally, for the year ended December 31, 2013, we entered into new operating lease commitments for revenue equipment totaling $67.1 million, with such payments to be made over the average lease term of 6 years. In light of our operating results over the past few years and our liquidity needs, we have deferred certain capital expenditures and may continue to do so in the future. As a result, the average age of our fleet has increased and we will need to update our fleet periodically. | |||||
We believe that our results of operations will provide sufficient liquidity to fund our operations and meet the covenants under our New Term Loan for the foreseeable future, including the next twelve months. | |||||
Our ability to satisfy our liquidity needs and meet future stepped-up covenants beyond 2014 is dependent on a number of factors, some of which are outside of our control. These factors include: | |||||
• | we must achieve improvements in our operating results primarily at our YRC Freight operating segment which rely upon pricing and shipping volumes and network efficiencies; | ||||
• | we must continue to implement and realize cost saving measures to match our costs with business levels and in a manner that does not harm operations and our productivity and efficiency initiatives must be successful; and | ||||
• | we must be able to generate operating cash flows that are sufficient to meet the cash requirements for pension contributions to our single and multi-employer pension funds, cash interest and principal payments on our funded debt, payments on our equipment leases, and for capital expenditures or additional lease payments for new revenue equipment | ||||
In the event our operating results indicate we will not meet our maximum total leverage ratio, we will take action to improve our maximum total leverage ratio which will include paying down our outstanding indebtedness with either cash on hand or from cash proceeds from equity issuances. The issuance of equity is outside of our control and there can be no assurance that we will be able to issue additional equity at terms that are agreeable to us. |
2011_Financial_Restructuring_N
2011 Financial Restructuring (Notes) | 0 Months Ended | 12 Months Ended | ||||||||||||||||
Feb. 13, 2014 | Dec. 31, 2013 | |||||||||||||||||
Debt Disclosure [Abstract] | ' | ' | ||||||||||||||||
2011 Financial Restructuring | ' | ' | ||||||||||||||||
2014 Financing Transactions | 2011 Financial Restructuring | |||||||||||||||||
On January 31, 2014, we issued 14,333,334 shares of our Common Stock and 583,334 shares of our Convertible Preferred Stock pursuant to certain stock purchase agreements, dated as of December 22, 2013 (the “Stock Purchase Agreements”), for an aggregate $250.0 million in cash. We used the proceeds from these transactions to, among other things, (i) deposit with the trustee funds sufficient to repay our 6% Convertible Senior Notes ("6% Notes") at their maturity on February 15, 2014 and (ii) repurchase approximately $90.9 million of our Series A Convertible Senior Secured Notes ("Series A Notes"). The Company will redeem the remaining Series A Notes on August 5, 2014. In February 2014, the Company deposited approximately $89.6 million with the trustee in order to fund the redemption (including accrued interest), and thereby discharged the indenture governing the Series A Notes. | On July 22, 2011, we completed our financial restructuring that included the following transactions (collectively referred to herein as the “restructuring”): | |||||||||||||||||
Also on January 31, 2014, certain holders of our 10% Series B Convertible Senior Secured Notes ("Series B Notes") exchanged their outstanding balances (including the make-whole premium and additional accrued interest through January 15, 2014) at a conversion price of $15.00 per share, while certain other holders converted their Series B Notes in accordance with their terms. We also amended the indenture governing our Series B Notes to eliminate substantially all of the restrictive covenants, certain events of default and other related provisions contained in the indenture and to release and discharge the liens on the collateral securing the Series B Notes. | • | an exchange offer, whereby we issued to our lenders under our then-existing credit agreement an aggregate of 3.7 million shares of our new Series B Convertible Preferred Stock, which were converted into 4.6 million shares of common stock on a post split basis, and $140.0 million in aggregate principal amount of our Series A Notes in exchange for a $305.0 million reduction of our credit agreement obligations; | ||||||||||||||||
Effective January 31, 2014, certain of our subsidiaries, various pension funds party thereto, and Wilmington Trust Company, as agent for such pension funds, entered into the Second Amended and Restated Contribution Deferral Agreement ("Second A&R CDA"), which, among other things (i) amended and restated the Amended and Restated Contribution Deferral Agreement ("A&R CDA") (which agreement is discussed in our "Debt and Financing footnote"), (ii) released the agent’s security interest in third priority collateral on the Collateral Release Date (as defined therein), (iii) limited the value of obligations secured by the collateral to the Secured Obligations (as defined therein) and (iv) extended the maturity of deferred pension payments and deferred interest from March 31, 2015 to December 31, 2019. | • | the issuance and sale for cash to such lenders of $100.0 million in aggregate principal amount of our Series B Notes; | ||||||||||||||||
On February 13, 2014, we replaced our existing credit facilities (as discussed in our "Debt and Financing" footnote) with a new $450 million New ABL Facility (the "New ABL Facility") and a new $700 million term loan facility ("New Term Loan"). The New ABL Facility will be used to support our $364.6 million of outstanding letters of credit commitments as of December 31, 2013. | • | the execution of the Amended and Restated Credit Agreement, the Prior ABL Facility and an A&R CDA with certain multi-employer pension funds; | ||||||||||||||||
We refer to transactions described above collectively as the "2014 Financing Transactions." The table below summarizes the cash flow activity for the 2014 Financing Transactions: | • | the issuance of 1.3 million shares of our Series B Preferred Stock to the Teamster-National 401(k) Savings Plan for the benefit of the Company's IBT employees, which were converted into 1.6 million shares of common stock on a post split basis; | ||||||||||||||||
• | the issuance of one share of our new Series A Voting Preferred Stock to the IBT to confer certain board representation rights; | |||||||||||||||||
Cash Sources (in millions) | Cash Uses (in millions) | • | the repayment in full and termination of our then-outstanding ABS Facility and collateralizing a portion of our outstanding letters of credit with cash; and | |||||||||||||||
New Term Loan | $ | 700 | Extinguish Prior ABL Facility (includes accrued interest) | $ | 326 | |||||||||||||
• | the Teamsters National Freight Industry Negotiating Committee (“TNFINC”) of the IBT waived its right to terminate, and agreed not to further modify, the Agreement for the Restructuring of the YRC Worldwide Inc. Operating Companies, dated as of September 24, 2010 (as amended, the “2010 MOU”) such that the collective bargaining agreement will be fully binding until its specified term of March 31, 2015. | |||||||||||||||||
Proceeds from sale of common stock | 215 | Extinguish Prior Term Loan (includes accrued interest) | 299.7 | |||||||||||||||
The table below summarizes the cash flow activity as it related to the restructuring as of July 22, 2011: | ||||||||||||||||||
Proceeds from sale of preferred stock | 35 | Retire 6% Notes | 71.5 | |||||||||||||||
Cash proceeds from restricted amounts held in escrow - existing ABL facility | 90 | Repurchase Series A Notes (upon transaction closing and includes accrued interest) | 93.9 | |||||||||||||||
Sources of Funds (in millions) | Uses of Funds (in millions) | |||||||||||||||||
New ABL Facility | — | Redeem Series A Notes (on August 5, 2014 and includes accrued interest) | 89.6 | Issuance of Series B Notes | $ | 100 | Retirement of ABS facility borrowings | $ | 164.2 | |||||||||
Fees, Expenses and Original Issuance Discount | 49 | Borrowings on the Prior ABL Facility | 255 | Restricted amounts held in escrow - Standby Letter of Credit Agreement | 64.7 | |||||||||||||
Restricted Cash to Balance Sheet (a) | 90 | Additional borrowings under the revolving credit facility | 18.5 | Fees, expenses and original issue discount of restructuring | 57 | |||||||||||||
Cash to Balance Sheet | 20.3 | Company cash | 2.4 | Restricted amounts held in escrow - Prior ABL Facility | 90 | |||||||||||||
Total sources | $ | 1,040.00 | Total uses | $ | 1,040.00 | Total sources of funds | $ | 375.9 | Total uses of funds | $ | 375.9 | |||||||
(a) | Under the terms of the New ABL facility, a portion of the Cash to Balance sheet will be classified as "restricted cash" in the consolidated balance sheet. | Following the restructuring, we amended and restated our certificate of incorporation on September 16, 2011 such that, among other things, all of our outstanding Series B Preferred Stock issued in the restructuring automatically converted into shares of our common stock and effected a one-for 300 reverse stock split on December 1, 2011. | ||||||||||||||||
The table below summarizes the non-cash activity for the 2014 Financing Transactions: | Restructured Credit Agreement Claims | |||||||||||||||||
In connection with the restructuring, we exchanged $305.0 million of amounts due under our prior credit agreement for an aggregate of 3.7 million shares of Series B Preferred Stock and $140.0 million in aggregate principal amount of our Series A Notes. We estimated the fair value of the Series B Preferred Stock to be $43.2 million. We also converted the remaining prior credit agreement borrowings from the revolving credit facility to the restructured term loan, eliminated the unused revolving credit facility capacity and extended the prior credit agreement maturity date to March 31, 2015 for the $307.4 million aggregate principal amount restructured term loan and the $437.0 million letter of credit facility. | ||||||||||||||||||
Non-Cash Sources (in millions) | Non-Cash Uses (in millions) | In accordance with FASB ASC 470-60, we accounted for this element of the restructuring as a troubled debt restructuring as the Company had been experiencing financial difficulty and the lenders granted a concession to the Company. We assessed the total future cash flows of the restructured debt as compared to the carrying amount of the original debt and determined the total future cash flows to be greater than the carrying amount at the date of the restructuring. As such, the carrying amount was not adjusted and no gain was recorded, consistent with troubled debt restructuring accounting. | ||||||||||||||||
Secured Second A&R CDA | $ | 51 | A&R CDA | $ | 124 | |||||||||||||
The prior credit agreement's carryover basis was allocated to the Prior Term Loan and Series A Notes on a relative fair value basis, after taking into account the Series B Preferred Stock and the conversion feature in the Series A Notes. The difference in the effective interest rates as compared to the stated interest rates for the restructured term loan and Series A Notes is a function of the underlying fair values of the respective instruments, due to the allocation of carryover basis on a relative fair value basis. Fair values of the respective instruments were based on a contemporaneous valuation using an option pricing model, a Level 3 fair value measurement. | ||||||||||||||||||
Unsecured Second A&R CDA | 73 | Exchange/conversion of Series B Notes to common stock | 50.6 | |||||||||||||||
The fair value of the Series B Preferred Stock was based on a contemporaneous valuation, whereas an estimated enterprise value was first calculated using assumptions related to market multiples of earnings, a market approach which is a Level 3 fair value measurement. The estimated enterprise value was then reduced by the fair value of our debt instruments post-restructuring, with the residual allocated to our Series B Preferred Stock and common stock. See further discussion regarding our Series B Preferred Stock in our "Shareholders' Deficit" footnote to our consolidated financial statements. | ||||||||||||||||||
Exchange/conversion of Series B Notes to common stock | 50.6 | |||||||||||||||||
The conversion feature embedded in the Series A Notes was required to be bifurcated on the restructuring closing date and separately measured as a derivative liability, as the Company did not have enough authorized and unissued common shares to satisfy conversion of the Series A Notes. We estimated the fair value of the conversion feature based on a contemporaneous valuation using an option pricing model, a Level 3 fair value measurement, and determined the fair value to be $12.4 million. | ||||||||||||||||||
Total sources | $ | 174.6 | Total uses | $ | 174.6 | |||||||||||||
On September 16, 2011, the Company held a special meeting of shareholders at which the Company's amended and restated certificate of incorporation was approved and the number of authorized common shares increased to allow for the conversions. This increase provided sufficient authorized common shares to satisfy the conversion feature in the Series A Notes, and thus the conversion feature in the Series A Notes was no longer required to be bifurcated and presented as a derivative liability. The conversion feature was adjusted to a fair value of $26.5 million on September 16, 2011, with the change of $14.1 million recorded as 'Fair value adjustment on derivative liabilities' in the accompanying statements of consolidated operations. The fair value of the conversion feature was then reclassified as an equity-classified derivative within 'Capital surplus' in the accompanying consolidated balance sheet. | ||||||||||||||||||
In 2014, we will account for the A&R CDA maturity extension as a debt modification and the remaining transactions as extinguishment of debt and issuance of new debt. We anticipate recording a gain on extinguishment of debt of approximately $15 million associated with this transaction in the first quarter of 2014. We paid approximately $40 million of fees associated with these transactions of which approximately $25 million will be recorded as unamortized deferred debt costs in “Other assets” in the consolidated balance sheet in the first quarter of 2014 and will be recognized as interest expense over the term of the New Term Loan and New ABL Facility and approximately $15 million will offset the equity proceeds of our stock purchase agreements. | We allocated $15.6 million of professional fees to this element of the restructuring, of which $14.0 million are related to the issuance of the Series A Notes and modifications to the prior credit agreement. Such amount has been recognized as 'Nonoperating restructuring transaction costs' in the accompanying statements of consolidated operations, consistent with troubled debt restructuring accounting. The remaining $1.6 million of professional fees are allocated to the issuance of the Series B Preferred Stock and have been recorded as a reduction to 'Capital surplus' in the accompanying consolidated balance sheet. | |||||||||||||||||
$700 Million First Lien Term Loan | Prior ABL Facility and Refinancing of ABS Facility | |||||||||||||||||
- Overview: On February 13, 2014, we borrowed in full $700 million, and received in cash less a 1% discount, from a syndicate of banks and other financial institutions arranged by Credit Suisse Securities (USA) and RBS Citizens, N.A. No amounts under this New Term Loan, once repaid, may be reborrowed. Certain material provisions of the New Term Loan are summarized below: | In connection with the restructuring, the Company entered into the Prior ABL Facility, of which the Term A Facility was funded by lenders that did not participate in the ABS Facility and the Term B Facility was funded by one of the ABS Facility lenders. This element of the restructuring was accounted for as an extinguishment of debt and issuance of new debt, for the portion of Prior ABL Facility debt attributed to lenders that did not participate in the ABS Facility. For the portion of the Prior ABL Facility debt attributed to the lender that participated in the ABS Facility, this element of the transaction was being accounted for as an exchange of line-of-credit or revolving-debt arrangements. | |||||||||||||||||
- Maturity and Amortization: The New Term Loan matures on February 13, 2019. The New Term Loan will amortize in equal quarterly installments in an aggregate annual amount equal to 1% of the original principal amount of the New Term Loan commencing on the last day of the first full fiscal quarter ending after the closing date. | As a part of refinancing the ABS Facility, the lenders agreed to forgive accrued interest of $11.3 million and deferred commitment fees of $15.0 million. The forgiveness of the interest and fees along with the write-off of $1.2 million of unamortized deferred debt costs associated with the ABS Facility resulted in the recognition of a gain on the extinguishment of debt of $25.1 million. Such amount has been recognized as '(Gain) loss on extinguishment of debt' in the accompanying statements of consolidated operations. | |||||||||||||||||
- Incremental: Subject to finding current or new lenders willing to provide such commitments, the Company has the right to incur one or more increases to the New Term Loan and/or one or more new tranches of term loans (which may be unsecured or secured on a junior basis) to be made available under the New Term Loan credit agreement which shall not exceed (i) $250 million so long as the senior secured leverage ratio on a pro forma basis does not exceed 3.25 to 1.0, plus (ii) all voluntary prepayments of the New Term Loan. | We allocated $5.2 million of professional fees to this element of the restructuring. Such costs have been recorded as unamortized deferred debt costs in “Other assets” in the accompanying consolidated balance sheet and were recognized as interest expense over the term of the Prior ABL Facility. | |||||||||||||||||
- Interest and Fees: The New Term Loan bears interest, at the election of the borrower, at either the applicable London interbank offer rate ("LIBOR") (subject to a floor of 1.00%) plus a margin of 7.00% per annum, or a rate determined by reference to the alternate base rate (the greater of the prime rate established by the administrative agent, the federal fund rate plus 0.50% and one month, LIBOR plus 1.00%) plus a margin of 6.00%. | Restructured Contribution Deferral Agreement | |||||||||||||||||
- Guarantors: The obligations of the borrower under the New Term Loan are unconditionally guaranteed by certain wholly owned domestic restricted subsidiaries of the Company (the “Term Guarantors”). | ||||||||||||||||||
- Collateral: The New Term Loan is secured by a perfected first priority security interest in (subject to permitted liens) substantially all assets of the Company and the guarantors under the New Term Loan (the “Term Guarantors”), except that accounts receivable, cash, deposit accounts and other assets related to accounts receivable are subject to a second priority interest (subject to permitted liens) and certain owned real property securing the obligations under the Second A&R CDA filed January 31, 2014, do not secure the obligations under the New Term Loan credit agreement (the “CDA Collateral”). | In connection with the restructuring, we entered into the A&R CDA with certain multi-employer pension funds to which we contribute. Such amendment, among other things, revised the final maturity date from December 31, 2012 to March 31, 2015 for amounts outstanding at the date of the restructuring, converted accrued interest of $4.5 million at the time of the restructuring to principal, and increased the interest rate for the Central States Pension Fund, which represents 64.3% of the total amount outstanding under the CDA, to 7.5%. The impact of this element of the restructuring on our accompanying consolidated balance sheet was primarily limited to the reclassification of current obligations to non-current liabilities, due to the change in maturity date for all principal to March 31, 2015. | |||||||||||||||||
- Mandatory Prepayments: The New Term Loan includes the following mandatory prepayments: | ||||||||||||||||||
We allocated $3.8 million of professional fees to this element of the restructuring. Such amount has been recognized as 'Nonoperating restructuring transaction costs' in the accompanying statements of consolidated operations. | ||||||||||||||||||
• | 50% of excess cash flow (paid if permitted under the New ABL Facility), subject to step downs to (x) 25% if the total leverage ratio is less than or equal to 3.50 to 1.00 but greater than 3.00 to 1.00 and (y) 0% if the total leverage ratio is less than or equal to 3.00 to 1.00. | |||||||||||||||||
Series B Notes | ||||||||||||||||||
• | 100% of the net cash proceeds of all asset sales or similar dispositions outside of the ordinary course of business and casualty events (subject to materiality thresholds and customary reinvestment rights) | |||||||||||||||||
The conversion feature embedded in the Series B Notes was required to be bifurcated on the restructuring date and separately measured as a derivative liability, as the Company did not have enough authorized and unissued common shares to satisfy conversion of the Series B Notes. We estimated the fair value of the conversion feature based on a contemporaneous valuation using an option pricing model, a Level 3 fair value measurement, and determined the fair value to be $41.7 million. | ||||||||||||||||||
• | 100% of cash proceeds from debt issuances that are not permitted by the New Term Loan documentation. | |||||||||||||||||
On September 16, 2011, the Company held a special meeting of shareholders at which the Company's amended and restated certificate of incorporation was approved and the number of authorized common shares to allow for the conversions. This increase provided sufficient authorized common shares to satisfy the conversion feature in the Series B Notes, and thus the conversion feature in the Series B Notes was no longer required to be bifurcated and presented as a derivative liability. The conversion feature was adjusted to a fair value of $106.8 million on September 16, 2011, with the change of $65.1 million recorded as 'Fair value adjustment on derivative liabilities' in the accompanying statements of consolidated operations. The $106.8 million fair value of the conversion feature was then reclassified as an equity-classified derivative within 'Capital surplus' in the accompanying consolidated balance sheet. | ||||||||||||||||||
- Events of Default: The New Term Loan documentation contains certain customary events of default, including but not limited to the failure to make payments due under the New Term Loan, breach of and failure to cure the breach of certain covenants, the entry of a final unpaid judgment against any of the Term Guarantors in excess of $30 million, the commencement of certain insolvency proceedings, liquidations or dissolutions, a cross-default to certain other indebtedness with an outstanding aggregate principal balance of at least $30 million (other than the New ABL Facility), and cross-acceleration to the New ABL Facility. | ||||||||||||||||||
- Covenants: The New Term Loan contains certain customary affirmative and negative covenants, including, among others, covenants restricting the incurrences of debt, liens, the making of investments and repurchases, transactions with affiliates, fundamental changes and asset sales, and prepayments of junior debt. In addition, refer to the "Liquidity" footnote for financial covenants for each of the remaining test periods. | We allocated $2.1 million of professional fees to this element of the restructuring. Such costs have been recorded as unamortized deferred debt costs in “Other assets” in the accompanying consolidated balance sheet and will be recognized as interest expense over the term of the Series B Notes. | |||||||||||||||||
$450 Million ABL Facility | ||||||||||||||||||
- Overview: On February 13, 2014, we entered into the New ABL Facility which is an asset-based $450 million loan facility from a syndicate of banks arranged by RBS Citizens, N.A., Merrill Lynch, Pierce, Fenner & Smith and CIT Finance LLC. The New ABL Facility terminates on February 13, 2019 (the “Termination Date”). The Company, YRC Inc., USF Reddaway Inc., USF Holland Inc. and New Penn Motor Express, Inc. are borrowers under the New ABL Facility, and certain of the Company’s domestic subsidiaries are guarantors thereunder. Certain material provisions of the New ABL Facility are summarized below: | ||||||||||||||||||
- Availability: The aggregate amount available under the New ABL Facility is subject to a borrowing base equal to the sum of (a) 85% of the sum of (i) eligible accounts minus without duplication (ii) the dilution reserve, plus (b) 100% of eligible borrowing base cash (which constitutes cash that has been deposited from time to time in a restricted account with the agent), minus (c) the deferred revenue reserve (which constitutes 85% of the “deferred revenue liability” as reflected on the balance sheet of the Company and its restricted subsidiaries as of the last day of the most recently completed fiscal month), minus (d) the availability reserve imposed by the agent in its permitted discretion (made in good-faith and using reasonable business judgment). Upon entering the New ABL Facility on February 13, 2014, based upon the availability calculation, the New ABL Facility did not have any borrowing capacity. | ||||||||||||||||||
- Interest and Fees: Revolving loans made under the New ABL Facility bear interest, at the Company’s election, of either the applicable LIBOR rate plus 2.5% or the base rate (the greater of the prime rate established by the agent, the federal funds effective rate plus 0.50% and one month LIBOR plus 1.00%) plus 1.5% from the closing date through March 31, 2014. Thereafter, the interest rates will be subject to the following price grid based on the average quarterly excess availability under the revolver: | ||||||||||||||||||
Average Quarterly | Base Rate | LIBOR | ||||||||||||||||
Level | Excess Capacity | Plus | Plus | |||||||||||||||
I | > $140,000,000 | 1.00% | 2.00% | |||||||||||||||
II | > $70,000,000 | 1.25% | 2.25% | |||||||||||||||
< $140,000,000 | ||||||||||||||||||
III | < $70,000,000 | 1.50% | 2.50% | |||||||||||||||
The rates set forth above are subject to a 0.25% reduction during any fiscal quarter for which the Company has a total leverage ratio of less than 2.50 to 1.00. | ||||||||||||||||||
- Fees: Fees in respect of the New ABL Facility include: (i) an unused line fee payable quarterly in arrears calculated by multiplying the amount by which the commitments exceed the loans and letters of credit for any calendar quarter by the unused line fee percentage (such unused line fee percentage initially to 0.250% per annum through March 31, 2014, and thereafter 0.375% per annum if the average revolver usage is less than 50% or 0.250% per annum if the average revolver usage is greater than 50%); (ii) fees for the letter of credit facility payable quarterly in arrears which are comprised of the applicable margin in effect for LIBOR loans multiplied by the average daily stated amount of letters of credit; (iii) fronting fees for letters of credit payable quarterly in arrears equal to 0.125% of the stated amount of the letters of credit; (vi) fees to issuing banks to compensate for customary charges related to the issuance and administration of letters of credit; and (v) such fees as set forth in the fee letter arrangement dated as of February 13, 2014 by and between the agent and the Company | ||||||||||||||||||
- Collateral: The obligations under the New ABL Facility are secured by a perfected first priority security interest in (subject to permitted liens) all accounts receivable, cash, deposit accounts and other assets related to accounts receivable of the Company and the other loan parties and an additional second priority security interest in (subject to permitted liens) substantially all remaining assets of the borrowers and the guarantors other than CDA Collateral. | ||||||||||||||||||
- Incremental: The New ABL Facility provides for a $100 million uncommitted accordion to increase the revolving commitment in the future to support borrowing base growth. | ||||||||||||||||||
- Events of Default: The New ABL Facility contains certain customary events of default, including but not limited to the failure to make payments due under the New ABL Facility, breach of and failure to cure the breach of certain covenants, the entry of a final unpaid judgment against any of the New ABL Facility loan parties in excess of $30 million, the commencement of any insolvency proceeding, liquidation or dissolution, and a cross-default to certain other indebtedness with an outstanding aggregate principal balance of at least $30 million (including the New Term Loan). | ||||||||||||||||||
- Covenants: The New ABL Facility contains certain customary affirmative and negative covenants (including certain customary provisions regarding borrowing base reporting, and including, among others, covenants restricting the incurrences of debt, liens, the making of investments and repurchases, transactions with affiliates, fundamental changes and asset sales, and prepayments of junior debt). Certain of the covenants relating to investments, restricted payments and capital expenditures are relaxed upon meeting specified payment conditions or debt repayment conditions, as applicable. Payment conditions include (i) the absence of an event of default arising from such transaction, (ii) liquidity of at least $100 million or availability of at least $67.5 million and (iii) the Consolidated Fixed Charge Coverage Ratio for the most recent term period on a pro forma basis is equal to or greater than 1.10 to 1.00). Debt repayment conditions include (i) the absence of an event of default from repaying such debt and (ii) availability on the date of repayment is not less than $67.5 million. During any period commencing when the New ABL Facility borrowers fail to maintain availability in an amount at least equal to 10% of the collateral line cap and until the borrowers have maintained availability of at least 10% of the collateral line cap for 30 consecutive calendar days, the New ABL Facility loan parties are required to maintain a Consolidated Fixed Charge Coverage Ratio of at least 1.10 to 1.00. The “Consolidated Fixed Charge Coverage Ratio” is defined as (a) (i) consolidated adjusted EBITDA for such period, minus (ii) capital expenditures made during such period, minus (iii) the aggregate amount of net cash taxes paid in cash during such period, minus (iv) the amount, if any, by which the cash pension contribution for such period exceeds the pension expense for such period, and plus (v) the amount, if any, by which the pension expense for such period exceeds the cash pension contribution for such period, divided by (b) the consolidated fixed charges for such period. In addition, refer to the "Liquidity" footnote for covenants for each of the remaining test periods. |
Stock_Compensation_Plans
Stock Compensation Plans | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||
Stock Compensation Plans | ' | ||||||||||||||||
Stock Compensation Plans | |||||||||||||||||
We have reserved 2.0 million shares for issuance to key management personnel and directors under the 2011 long-term incentive and equity award plan. As of December 31, 2013, 1.1 million shares remain available for issuance under this plan. The plan permits the issuance of restricted stock and share units, as well as options, stock appreciation rights, and performance stock and performance stock unit awards. Awards under the plan can be satisfied in cash or shares at the discretion of the Board of Directors. According to the plan provisions, the share units provide the holders the right to receive one share of our common stock upon vesting of one share unit. The plan requires the exercise price of any option equal to the closing market price of our common stock on the date of grant. | |||||||||||||||||
Stock Options | |||||||||||||||||
On March 1, 2010, we formalized the Second Union Employee Option Plan that provided for a grant of up to 31,000 options, including the effect of the reverse stock split, to purchase our common stock at an exercise price equal to $3,600.00 per share, of which all have been granted. As a part of the union wage reduction, we agreed to award a certain equity interest to all effected union employees. These options vested immediately, will expire 10 years from the grant date, and were exercisable upon shareholder approval, which was received on June 29, 2010, at our annual shareholder meeting. There has been no activity in these stock options for the years ended December 31, 2013, 2012 and 2011. | |||||||||||||||||
The following table summarizes information about stock options outstanding as of December 31, 2013: | |||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||
Shares | Weighted Average Remaining Contractual | Weighted Average | Aggregate | Shares | Weighted Average | Aggregate | |||||||||||
Range of exercise prices | (in thousands) | Term (in years) | Exercise price | Intrinsic Value | (in thousands) | Exercise price | Intrinsic Value | ||||||||||
$ 3,600.00 - 35,475.00 | 33 | 6.17 | $ | 3,680.09 | $ | — | 33 | $ | 3,680.09 | $ | — | ||||||
Restricted Stock | |||||||||||||||||
A summary of the activity of our nonvested restricted stock and share unit awards is presented in the following table: | |||||||||||||||||
Shares | Weighted Average | ||||||||||||||||
(in thousands) | Grant-Date Fair Value | ||||||||||||||||
Nonvested at December 31, 2010 | — | — | |||||||||||||||
Granted | 271 | $ | 11.6 | ||||||||||||||
Vested | (1 | ) | 11.6 | ||||||||||||||
Forfeited | — | — | |||||||||||||||
Nonvested at December 31, 2011 | 270 | $ | 11.6 | ||||||||||||||
Granted | 586 | 11.34 | |||||||||||||||
Vested | (21 | ) | 8.85 | ||||||||||||||
Forfeited | (83 | ) | 11.63 | ||||||||||||||
Nonvested at December 31, 2012 | 752 | $ | 11.47 | ||||||||||||||
Granted | 429 | 6.24 | |||||||||||||||
Vested | (405 | ) | 10.27 | ||||||||||||||
Forfeited | (118 | ) | 10.54 | ||||||||||||||
Nonvested at December 31, 2013 | 658 | $ | 8.96 | ||||||||||||||
We recognize expense on a straight-line basis over the vesting term. The vesting provisions for the restricted stock and share unit awards and the related number of shares granted during the year ended December 31 are as follows: | |||||||||||||||||
Shares (in thousands) | |||||||||||||||||
Vesting Terms | 2013 | 2012 | 2011 | ||||||||||||||
50% immediately and 50% on the 1 year anniversary of the grant date | 187 | — | — | ||||||||||||||
50% on the 1 year anniversary of the grant date and 50% on the 2 year anniversary of the grant date | 150 | — | — | ||||||||||||||
25% per year for four years | 56 | 501 | 78 | ||||||||||||||
25% immediately and 25% on each employment anniversary thereafter | 18 | — | — | ||||||||||||||
100% immediately | 5 | — | — | ||||||||||||||
100% on February 20, 2013 | — | 72 | — | ||||||||||||||
33.3% immediately and 33.3% per year thereafter on the | 13 | 13 | 3 | ||||||||||||||
anniversary of the grant date | |||||||||||||||||
25% on January 1, 2013, 25% on the 2 year anniversary of the | — | 184 | |||||||||||||||
employment date, 25% on each employment anniversary thereafter | |||||||||||||||||
100% on July 27, 2013 | — | — | 6 | ||||||||||||||
Total restricted stock and share units granted | 429 | 586 | 271 | ||||||||||||||
As of December 31, 2013 and 2012, there was $4.8 million and $6.4 million, respectively of unrecognized compensation expense related to nonvested share-based compensation arrangements. That expense is expected to be recognized over a weighted-average period of 2.1 years. The fair value of nonvested shares is determined based on the closing trading price of our shares on the grant date. The fair value of shares vested during the years ended December 31, 2013, 2012 and 2011 was not material. | |||||||||||||||||
The outstanding awards under our stock compensation plans provide dividend participation features and are considered participating securities in our earnings per share calculation. | |||||||||||||||||
Teamster 401(k) Contribution | |||||||||||||||||
On July 22, 2011, the Company delivered into escrow 1.3 million shares of our Series B Preferred Stock, which were delivered from escrow on July 25, 2011, to the Teamster-National 401(k) Savings Plan for the benefit of the Company's IBT employees. The $14.9 million fair value of the1.3 million shares of Series B Preferred Stock issued was based on a contemporaneous valuation, whereas an estimated enterprise value was first calculated using assumptions related to market multiples of earnings, a market approach which is a level 3 fair value measurement. The estimated enterprise value was then reduced by the fair value of our debt instruments subsequent to our 2011 restructuring, with the residual allocated to our Series B Preferred Stock and common stock. On September 16, 2011, following approval from the shareholders of the Company's amended and restated certificate of incorporation the number of common shares increased and these preferred shares were automatically converted into 1.6 million shares of common stock. | |||||||||||||||||
This element of the restructuring was accounted for as the grant of a share-based payment award to employees and the $14.9 million charge for the share-based payments has been included in 2011 “Equity based compensation expense” in the accompanying statements of consolidated operations. |
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||
Income Taxes | ' | |||||||||
Income Taxes | ||||||||||
We use the asset and liability method to reflect income taxes on our financial statements, pursuant to ASC 740, "Income Taxes" ("ASC 740"). We recognize deferred tax assets and liabilities by applying enacted tax rates to the differences between the carrying value of existing assets and liabilities and their respective tax basis and to loss carryforwards. Tax credit carryforwards are recorded as deferred tax assets. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that the change occurs. We assess the validity of deferred tax assets and loss and tax credit carryforwards and provide valuation allowances when we determine it is more likely than not that such assets, losses, or credits will not be realized. We have not recognized deferred taxes relative to foreign subsidiaries' earnings that are deemed to be permanently reinvested. Any related taxes associated with such earnings are not material. | ||||||||||
Deferred tax liabilities (assets) were comprised of the following at December 31: | ||||||||||
(in millions) | 2013 | 2012 | ||||||||
Depreciation | $ | 295.2 | $ | 327.8 | ||||||
Deferred revenue | 17.2 | 12.2 | ||||||||
Intangibles | 29.5 | 36.3 | ||||||||
Gain on debt redemption | 64.3 | 63.9 | ||||||||
Other | 54.7 | 54.7 | ||||||||
Deferred tax liabilities | 460.9 | 494.9 | ||||||||
Claims and insurance | (169.2 | ) | (179.6 | ) | ||||||
Net operating loss carryforwards | (329.1 | ) | (298.8 | ) | ||||||
Employee benefit accruals | (237.9 | ) | (288.9 | ) | ||||||
Other | (176.7 | ) | (173.6 | ) | ||||||
Deferred tax assets | (912.9 | ) | (940.9 | ) | ||||||
Valuation allowance | 454.1 | 448.4 | ||||||||
Net deferred tax assets | (458.8 | ) | (492.5 | ) | ||||||
Net deferred tax liability | $ | 2.1 | $ | 2.4 | ||||||
The net deferred tax liability of $2.1 million and $2.4 million as of December 31, 2013 and 2012, respectively, is included as separate line items in the accompanying balance sheets. Current income tax receivable was $20.1 million and $27.3 million as of December 31, 2013 and 2012, respectively, and is included in “Prepaid expenses and other” in the accompanying balance sheets. | ||||||||||
The Company has carried back the 2013 federal taxable loss to the extent allowed and claimed and received refunds of $14.4 million. As of December 31, 2013, the Company has remaining federal Net Operating Loss carryforwards of approximately $689.1 million, of which, an estimated $298.6 million will not be utilized due to limitations imposed by the Internal Revenue Code regarding the use of tax attributes following deemed ownership changes that occurred in July, 2011 and in July, 2013. Subsequent to the balance sheet date, another such ownership change occurred in January, 2014, in conjunction with the 2014 Financing Transactions described in the "2014 Financing Transactions" footnote. The impact of the 2014 ownership change on the Company’s ability to utilize its Net Operating Loss carryforwards has not yet been determined, but it is not expected to be material. These carryforwards expire between 2028 and 2033 if not used. As of December 31, 2013, the Company has foreign tax credit and other credit carryforwards of approximately $16.9 million, none of which will likely be utilized due to the Internal Revenue Code limitations described above, and which will expire between 2014 and 2018 if not used. | ||||||||||
As of December 31, 2013 and 2012, a valuation allowance of $454.1 million and $448.4 million has been established for deferred tax assets because, based on available sources of future taxable income, it is more likely than not that those assets will not be realized. | ||||||||||
A reconciliation between income taxes at the federal statutory rate and the consolidated effective tax rate follows: | ||||||||||
2013 | 2012 | 2011 | ||||||||
Federal statutory rate | 35 | % | 35 | % | 35 | % | ||||
State income taxes, net | (2.4 | )% | (1.8 | )% | (1.1 | )% | ||||
Foreign tax rate differential | (0.1 | )% | 2.6 | % | — | % | ||||
Permanent differences | 2 | % | 8.6 | % | (6.3 | )% | ||||
Valuation allowance | (31.9 | )% | (39.8 | )% | (35.4 | )% | ||||
Benefit from intraperiod tax allocation under ASC 740 | 32.2 | % | — | % | — | % | ||||
Net (increase) decrease in unrecognized tax benefits | 0.6 | % | (1.7 | )% | 3.7 | % | ||||
Benefit from settlement of Tax Court litigation | — | % | 6.4 | % | — | % | ||||
Other, net | — | % | 0.6 | % | 6.2 | % | ||||
Effective tax rate | 35.4 | % | 9.9 | % | 2.1 | % | ||||
The income tax provision (benefit) consisted of the following: | ||||||||||
(in millions) | 2013 | 2012 | 2011 | |||||||
Current: | ||||||||||
Federal | $ | (14.5 | ) | $ | (24.0 | ) | $ | (23.9 | ) | |
State | 1.4 | 2.5 | 11.3 | |||||||
Foreign | 9.6 | 2.7 | 5.3 | |||||||
Current income tax benefit | $ | (3.5 | ) | $ | (18.8 | ) | $ | (7.3 | ) | |
Deferred: | ||||||||||
Federal | $ | (41.7 | ) | $ | 5.5 | $ | (0.2 | ) | ||
State | — | 0.5 | — | |||||||
Foreign | (0.7 | ) | (2.2 | ) | — | |||||
Deferred income tax provision (benefit) | $ | (42.4 | ) | $ | 3.8 | $ | (0.2 | ) | ||
Income tax benefit | $ | (45.9 | ) | $ | (15.0 | ) | $ | (7.5 | ) | |
Based on the income (loss) before income taxes: | ||||||||||
Domestic | $ | (152.8 | ) | $ | (173.8 | ) | $ | (366.1 | ) | |
Foreign | 23.3 | 22.3 | 4.2 | |||||||
Loss before income taxes | $ | (129.5 | ) | $ | (151.5 | ) | $ | (361.9 | ) | |
During 2013, the Company recognized $41.7 million of deferred benefit in the Statement of Consolidated Operations and an equal and offsetting deferred tax expense in other comprehensive income included in the Statement of Consolidated Comprehensive Loss due to the application of intraperiod tax allocation rules under ASC 740. This allocation has no effect on total tax provision or total valuation allowance. | ||||||||||
Uncertain Tax Positions | ||||||||||
A rollforward of the total amount of unrecognized tax benefits for the years ended December 31 is as follows: | ||||||||||
(in millions) | 2013 | 2012 | ||||||||
Unrecognized tax benefits at January 1 | $ | 29.7 | $ | 27.1 | ||||||
Increases related to: | ||||||||||
Tax positions taken during a prior period | 1.3 | 3.6 | ||||||||
Tax positions taken during the current period | 0.9 | 0.9 | ||||||||
Decreases related to: | ||||||||||
Lapse of applicable statute of limitations | (1.2 | ) | (1.9 | ) | ||||||
Settlements with taxing authorities | (3.1 | ) | — | |||||||
Unrecognized tax benefits at December 31 | $ | 27.6 | $ | 29.7 | ||||||
At December 31, 2013 and 2012, there are $24.8 million and $25.8 million of benefits that, if recognized, would affect the effective tax rate. We accrued interest of $1.4 million and $2.2 million for the years ended December 31, 2013 and 2012 and reversed $2.6 million and $5.6 million of previously accrued interest on uncertain tax positions during the years ended December 31, 2013 and 2012 for a net reduction of $1.2 million and $3.4 million for 2013 and 2012. The reversal related primarily to settlements and other favorable resolution of prior uncertain positions. The total amount of interest accrued for uncertain tax positions is $14.5 million and $15.7 million as of as of December 31, 2013 and 2012. During the year ended December 31, 2013, we paid tax of $1.2 million and interest of $0.8 million to settle certain state and foreign audits of tax years 2001-08 for certain of our subsidiaries and we reduced our previously recorded tax contingency accordingly. We have not accrued any penalties relative to uncertain tax positions. We have elected to treat interest and penalties on uncertain tax positions as interest expense and other operating expenses, respectively. | ||||||||||
It is reasonably possible that the existing unrecognized tax benefits may decrease over the next twelve months by as much as $21.2 million as a result of developments in examinations and/or litigation, or from the expiration of statutes of limitation. | ||||||||||
Tax years that remain subject to examination for our major tax jurisdictions as of December 31, 2013: | ||||||||||
Statute remains open | 2005-2012 | |||||||||
Tax years currently under examination/exam completed | 2005-2012 | |||||||||
Tax years not examined | 2013 |
Business_Segments
Business Segments | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||
Business Segments | ' | |||||||||||||||||||
Business Segments | ||||||||||||||||||||
We report financial and descriptive information about our reportable operating segments on a basis consistent with that used internally for evaluating segment performance and allocating resources to segments. We evaluate performance primarily on operating income and return on invested capital. | ||||||||||||||||||||
We have the following reportable segments, which are strategic business units that offer complementary transportation services to their customers. YRC Freight includes carriers that provide comprehensive national, regional and international services. Regional Transportation is comprised of carriers that focus primarily on business opportunities in the next-day and regional delivery markets. Truckload consists of Glen Moore, a former domestic truckload carrier. On December 15, 2011, we sold a majority of the assets of Glen Moore to a third party for $18.5 million and ceased the operations. We recognized a $4.6 million loss on the sale of these assets which is included in the Truckload segment for 2011. | ||||||||||||||||||||
Effective April 1, 2010 until its deconsolidation in the first quarter of 2012, the results of Jiayu are reflected in our consolidated results as part of the Corporate Segment. | ||||||||||||||||||||
We charge management fees and other corporate services to our segments based upon usage or on an overhead allocation basis. Corporate and other operating losses represent operating expenses of the holding company, including compensation and benefits and professional services for all periods presented. Corporate identifiable assets primarily refer to cash, cash equivalents, restricted cash and deferred debt issuance costs as well as our investment in JHJ. Intersegment revenue relates to transportation services between our segments. | ||||||||||||||||||||
Revenue from foreign sources totaled $139.5 million, $158.3 million, and $186.8 million in 2013, 2012 and 2011, respectively, and is largely derived from Canada and Mexico. Long-lived assets located in foreign countries totaled $12.4 million, $14.7 million and $15.5 million at December 31, 2013, 2012, and 2011, respectively. | ||||||||||||||||||||
The following table summarizes our operations by business segment: | ||||||||||||||||||||
(in millions) | YRC Freight | Regional Transportation | Truckload | Corporate/Eliminations | Consolidated | |||||||||||||||
2013 | ||||||||||||||||||||
External revenue | $ | 3,136.80 | $ | 1,728.60 | $ | — | $ | — | $ | 4,865.40 | ||||||||||
Intersegment revenue | — | — | — | — | — | |||||||||||||||
Operating income (loss) | (31.2 | ) | 79.9 | — | (20.3 | ) | 28.4 | |||||||||||||
Identifiable Assets | 1,513.40 | 698.4 | — | (146.9 | ) | 2,064.90 | ||||||||||||||
Acquisition of property and equipment | (43.4 | ) | (23.3 | ) | — | (0.2 | ) | (66.9 | ) | |||||||||||
Proceeds from disposal of property and equipment | 6.7 | 3 | — | 0.1 | 9.8 | |||||||||||||||
Depreciation and amortization | 109.1 | 63.1 | — | 0.1 | 172.3 | |||||||||||||||
Equity investment impairment | — | — | — | — | — | |||||||||||||||
2012 | ||||||||||||||||||||
External revenue | $ | 3,206.90 | $ | 1,640.40 | $ | — | $ | 3.2 | $ | 4,850.50 | ||||||||||
Intersegment revenue | — | 0.2 | — | (0.2 | ) | — | ||||||||||||||
Operating income (loss) | (37.3 | ) | 70 | — | (8.6 | ) | 24.1 | |||||||||||||
Identifiable Assets | 1,315.40 | 745.5 | — | 164.6 | 2,225.50 | |||||||||||||||
Acquisition of property and equipment | (47.2 | ) | (19.0 | ) | — | (0.2 | ) | (66.4 | ) | |||||||||||
Proceeds from disposal of property and equipment | 54.1 | (0.2 | ) | — | (3.5 | ) | 50.4 | |||||||||||||
Depreciation and amortization | 119.8 | 63.3 | — | 0.7 | 183.8 | |||||||||||||||
Equity investment impairment | — | — | — | 30.8 | 30.8 | |||||||||||||||
2011 | ||||||||||||||||||||
External revenue | $ | 3,203.00 | $ | 1,553.30 | $ | 86.9 | $ | 25.6 | $ | 4,868.80 | ||||||||||
Intersegment revenue | — | 1 | 12 | (13.0 | ) | — | ||||||||||||||
Operating income (loss) | (88.5 | ) | 32.9 | (18.9 | ) | (63.7 | ) | (138.2 | ) | |||||||||||
Identifiable Assets | 1,410.00 | 843.6 | 2.7 | 229.5 | 2,485.80 | |||||||||||||||
Acquisition of property and equipment | (29.4 | ) | (33.1 | ) | (0.6 | ) | (8.5 | ) | (71.6 | ) | ||||||||||
Proceeds from disposal of property and equipment | 48.5 | 0.7 | 18.2 | 0.1 | 67.5 | |||||||||||||||
Depreciation and amortization | 102.9 | 61.6 | 7.9 | 23.3 | 195.7 | |||||||||||||||
Shareholders_Deficit
Shareholders' Deficit | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Stockholders' Equity Note [Abstract] | ' | |||||||||||||
Shareholders' Deficit | ' | |||||||||||||
Shareholders’ Deficit | ||||||||||||||
The Company designated one of the authorized shares of preferred stock as its Series A Voting Preferred Stock. The Series A Voting Preferred Stock has a $1 liquidation value and entitles the holder to elect two directors to the Company's Board of Directors. The one share of Series A Voting Preferred Stock was issued to the IBT on July 22, 2011 in connection with the restructuring. The Series A Voting Preferred Stock was recorded at its liquidation value. | ||||||||||||||
The Company designated 4,999,999 of the authorized shares of preferred stock as its Series B Preferred Stock. As part of the 2011 restructuring, we issued an aggregate of 4,999,999 shares of Series B Preferred Stock to satisfy a portion of the outstanding credit agreement claims (3,717,948 shares) and to satisfy our obligation to the IBT for their modifications of the MOU in both 2009 and 2010 (1,282,051 shares). On September 16, 2011, these preferred shares were immediately convertible into our common stock upon effectiveness of the Charter Agreement Merger and increase in authorized common shares. At the date of issuance, the Company did not have sufficient authorized and unissued common shares to satisfy the conversion of all of the Series B Preferred Stock and as such, the Company considered the guidance under ASC Topic 815-40 and determined that conversion was not within the Company's control for the Series B Preferred Stock and therefore classified the Series B Preferred Stock as temporary equity for the period July 22, 2011 through September 16, 2011, at which such time the Series B Preferred Stock converted into common shares. | ||||||||||||||
The Series B Preferred Stock contained a beneficial conversion feature that was in-the-money on July 22, 2011. The $58.0 million fair value of the Series B Preferred Stock was allocated to this beneficial conversion feature at July 22, 2011, resulting in a discount recorded against the Series B Preferred Stock of $58.0 million, with the offset recorded to 'Capital surplus'. Upon effectiveness of the Charter Agreement Merger and increase in authorized common shares on September 16, 2011, the $58.0 million discount recorded against the Series B Preferred Stock was amortized into 'Accumulated deficit'. | ||||||||||||||
The amortization of the discount recorded against the Series B Preferred Stock increased the net loss attributable to common shareholders in the calculation of basic and diluted loss per share. | ||||||||||||||
On September 16, 2011, the Company's stockholders approved an amendment to the Company's Certificate of Incorporation to increase the number of authorized shares of the Company's capital stock from 85.0 million shares to 10.005 billion shares of which 5.0 million shares are preferred stock, par value $1.00 per share, and 10.0 billion shares are common stock, par value $0.01 per share. On September 16, 2011, the Company filed a Certificate of Merger with the Delaware Secretary of State in connection with which the Company's certificate of incorporation was amended and restated. | ||||||||||||||
On September 16, 2011, the Company's stockholders approved an amendment to the Company's Certificate of Incorporation to effect a reverse stock split of the Company's common stock following the effectiveness of the authorized share increase described above, at a ratio to be determined by the Company's board of directors and within a range of one-for-50 to one-for-300; and reduce the number of authorized shares of the Company's common stock by the reverse split ratio. | ||||||||||||||
The board of directors approved the reverse stock split effective December 1, 2011 at a ratio of 1:300. The reverse stock split was effective on NASDAQ on December 2, 2011. Fractional shares were not issued in connection with the reverse stock split. Fractional shares were collected and pooled by our transfer agent and sold in the open market and the proceeds were allocated to the stockholders' respective accounts pro rata in lieu of fractional shares. | ||||||||||||||
The following reflects the activity in the shares of our preferred and common stock for the years ended December 31: | ||||||||||||||
Preferred Shares | Common Shares | |||||||||||||
(in thousands) | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||
Beginning balance | — | — | — | 7,976 | 6,847 | 159 | ||||||||
Issuance of Series B preferred stock in exchange for debt | — | — | 5,000 | — | — | — | ||||||||
Conversion of Series B preferred stock to common stock | — | — | (5,000 | ) | — | — | 6,210 | |||||||
Issuance of equity in exchange for debt | — | — | — | 1,929 | 1,112 | 478 | ||||||||
Issuance of equity awards, net | — | — | — | 268 | 17 | — | ||||||||
Ending balance | — | — | — | 10,173 | 7,976 | 6,847 | ||||||||
Our amended and restated credit agreement in place as of December 31, 2013, restricts the ability of YRC Worldwide to declare dividends on its outstanding capital stock. |
Loss_Per_Share
Loss Per Share | 12 Months Ended |
Dec. 31, 2013 | |
Earnings Per Share [Abstract] | ' |
Loss Per Share | ' |
Loss Per Share | |
We present both basic and diluted EPS amounts. Basic EPS is calculated by dividing net loss by the weighted average number of common shares outstanding during the year. We calculate earnings per share using the two class method where unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are considered participating securities and shall be included in the computation of earnings per share. The two-class method is an earnings allocation formula that treats a participating security as having rights to earnings that would otherwise have been available to common shareholders. Participating securities do not participate in losses and therefore are excluded from the calculation of loss per share. | |
In periods with net income, diluted EPS is based upon the weighted average number of common and common equivalent shares outstanding during the year which is calculated using the treasury stock method for stock options and restricted stock units, the if-converted method for convertible notes, and assumes conversion of our convertible senior notes based on the related fiscal year financial data. In periods with net loss, diluted EPS uses the same shares as basic EPS with no consideration of the if-converted method on the numerator. | |
Given our net loss position for the years ended December 31, 2013, 2012, and 2011, there are no dilutive securities for these periods. Antidilutive options and share units were 691,000, 771,700 and 302,700 at December 31, 2013, 2012, and 2011, respectively. Antidilutive 6% convertible senior note conversion shares, including the make whole premium, were convertible into 17,600 common shares at December 31, 2013, 2012, and 2011. Antidilutive Series A convertible note conversion shares were 5,226,000, 4,740,000 and 4,300,000 at December 31, 2013, 2012, and 2011. Antidilutive Series B convertible note conversion shares, including the make whole premiums, were 4,219,000, 6,149,000 and 7,261,000 at December 31, 2013, 2012, and 2011. |
Commitments_Contingencies_And_
Commitments, Contingencies, And Uncertainties | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||||||||||||
Commitments, Contingencies, and Uncertainties | ' | ||||||||||||||||||
Commitments, Contingencies, and Uncertainties | |||||||||||||||||||
Financial Matters | |||||||||||||||||||
We incur rental expenses under noncancelable lease agreements for certain buildings and operating equipment. Rental expense is charged to “Operating expense and supplies” or “Purchased transportation” on the accompanying statements of operations. Rental expense was $76.0 million, $78.0 million, and $79.4 million for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||||||||||
At December 31, 2013, we were committed under noncancelable lease agreements requiring minimum annual rentals payable as follows: | |||||||||||||||||||
(in millions) | 2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | |||||||||||||
Minimum annual rentals | $ | 56.1 | $ | 41.4 | $ | 22.4 | $ | 16.6 | $ | 12 | $ | 18.1 | |||||||
We expect in the ordinary course of business that leases will be renewed or replaced as they expire. The leases provide for fixed and escalating rentals and contingent escalating rentals based on the Consumer Price Index not to exceed certain specified amounts. We record rent expense for our operating leases on a straight-line basis over the base term of the lease agreements. | |||||||||||||||||||
As of December 31, 2013, we have $2.3 million committed for capital expenditures to be completed during 2014. | |||||||||||||||||||
ABF Lawsuit | |||||||||||||||||||
On November 1, 2010, ABF Freight System, Inc. (“ABF”) filed a complaint in the U.S. District Court for the Western District of Arkansas against several parties, including our subsidiaries YRC Inc., New Penn Motor Express, Inc. and USF Holland Inc. and the International Brotherhood of Teamsters and the local Teamster unions party to the National Master Freight Agreement (“NMFA”) alleging violation of the NMFA due to modifications to the NMFA that provided relief to our subsidiaries without providing the same relief to ABF. The complaint sought to have the modifications to the NMFA declared null and void and damages of $750.0 million from the named defendants. We believe the allegations are without merit. | |||||||||||||||||||
On December 17, 2010, the District Court dismissed the complaint. ABF appealed the dismissal on January 18, 2011 to the U.S. Court of Appeals for the 8th Circuit. On July 6, 2011, the Court of Appeals vacated the District Court's dismissal of the litigation on jurisdictional grounds and remanded the case back to the District Court for further proceedings. ABF filed an amended complaint on October 12, 2011, containing allegations consistent with the original complaint. Our subsidiaries filed a motion to dismiss the amended complaint. ABF appealed the dismissal to the Court of Appeals, and, on August 30, 2013, the Court of Appeals affirmed the District Court’s decision. ABF did not file a petition for certiorari with the United States Supreme Court, which was due on or before November 29, 2013. Thus, the Court of Appeals’ dismissal of this matter is final. | |||||||||||||||||||
Bryant Holdings Securities Litigation | |||||||||||||||||||
On February 7, 2011, a putative class action was filed by Bryant Holdings LLC ("Bryant") in the U.S. District Court for the District of Kansas on behalf of purchasers of our common stock between April 24, 2008 and November 2, 2009, inclusive (the "Class Period"), seeking damages under the federal securities laws for statements and/or omissions allegedly made by us and the individual defendants during the Class Period which plaintiffs claimed to be false and misleading. | |||||||||||||||||||
The individual defendants are former officers of our Company. No current officers or directors were named in the lawsuit. The parties participated in voluntary mediation between March 11, 2013 and April 15, 2013. Substantially all of the payments contemplated by the settlement will be covered by our liability insurance. The self-insured retention on this matter has been accrued as of December 31, 2013. | |||||||||||||||||||
The settlement agreement requires court approval. On August 19, 2013, the Court entered an Order denying plaintiffs’ Motion for Preliminary Approval of the Settlement. Plaintiffs filed an Amended Motion for Preliminary Approval and, on November 18, 2013, the Court denied that Motion. Each denial was based primarily on deficiencies that the Court perceived in the plan that plaintiffs proposed for allocation of the settlement proceeds among class members. Plaintiffs have revised the plan of allocation and, on February 18, 2014, filed a Second Amended Motion for Preliminary Approval. | |||||||||||||||||||
Other Legal Matters | |||||||||||||||||||
We are involved in other litigation or proceedings that arise in ordinary business activities. We insure against these risks to the extent we deem prudent, but no assurance can be given that the nature or amount of such insurance will be sufficient to fully indemnify us against liabilities arising out of pending and future legal proceedings. Many of these insurance policies contain self-insured retentions in amounts we deem prudent. Based on our current assessment of information available as of the date of these financial statements, we believe that our financial statements include adequate provisions for estimated costs and losses that may be incurred within the litigation and proceedings to which we are a party. |
Related_Party_Transactions_Not
Related Party Transactions (Notes) | 3 Months Ended |
Mar. 31, 2013 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions Disclosure [Text Block] | ' |
$250,000 per month retainer fee for at least four months plus potential completion fees of $5.5 million. | |
Pursuant to the Advisory Agreement, we paid MAEVA $3.0 million in monthly retainer fees in 2013, and we paid a $5.5 million completion fee in January 2014 in connection with the completion of the 2014 Financing Transactions. Additionally in February 2014, we paid MAEVA an incremental fee of $3.5 million in recognition of its critical role and performance in designing and leading a series of highly complicated, challenging and interdependent transactions that were critical to the Company's refinancing that led to a capital structure with maturities extended until 2019. Although the Advisory Agreement originally was set to expire on December 31, 2013, management and the Board requested that MAEVA continue to advise the Company and the Board on the various transactions, so we continued to pay the monthly retainer for two additional months while the Financing Transactions remained outstanding. The Advisory Agreement and the fees paid to MAEVA in connection with the 2014 Financing Transactions were approved by the independent members of the board. |
Principles_Of_Consolidation_Po
Principles Of Consolidation (Policies) | 12 Months Ended | |
Dec. 31, 2013 | ||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |
Cash and Cash Equivalents | ' | |
Cash and Cash Equivalents | ||
Cash and cash equivalents include demand deposits and highly liquid investments purchased with maturities of three months or less. Under the Company's cash management system, checks issued but not presented to banks frequently result in book overdraft balances for accounting purposes which are classified within accounts payable in the accompanying consolidated balance sheets. The change in book overdrafts are reported as a component of operating cash flows for accounts payable as they do not represent bank overdrafts. | ||
Concentration of Credit Risk and Other | ' | |
Concentration of Credit Risks and Other | ||
We sell services and extend credit based on an evaluation of the customer's financial condition, without requiring collateral. Exposure to losses on receivables is principally dependent on each customer's financial condition. We monitor our exposure for credit losses and maintain allowances for anticipated losses. | ||
Revenue Recognition | ' | |
Revenue Recognition | ||
For shipments in transit, we record revenue based on the percentage of service completed as of the period end and accrue delivery costs as incurred. The percentage of service completed for each shipment is based on how far along in the shipment cycle each shipment is in relation to standard transit days. Standard transit days are defined as our published service days between origin zip code and destination zip code. Based on historical cost and engineering studies, certain percentages of revenue are determined to be earned during each stage of the shipment cycle, such as initial pick up, long distance transportation, intermediate transfer and customer delivery. Using standard transit times, we analyze each shipment in transit at a particular period end to determine what stage the shipment is in. We apply that stage's percentage of revenue earned factor to the rated revenue for that shipment to determine the revenue dollars earned by that shipment in the current period. The total revenue earned is accumulated for all shipments in transit at a particular period end and recorded as operating revenue. | ||
In addition, we recognize revenue on a gross basis because we are the primary obligors even when we use other transportation service providers who act on our behalf. We remain responsible to our customers for complete and proper shipment, including the risk of physical loss or damage of the goods and cargo claims issues. We assign pricing to bills of lading at the time of shipment based primarily on the weight, general classification of the product, the shipping destination and individual customer discounts. This process is referred to as rating. At various points throughout our process, incorrect ratings could be identified based on many factors, including weight verifications or updated customer discounts. Although the majority of rerating occurs in the same month as the original rating, a portion occurs during the following periods. We accrue a reserve for rerating based on historical trends. | ||
Uncollectible Accounts | ' | |
Uncollectible Accounts | ||
We record an allowance for doubtful accounts primarily based on historical uncollectible amounts. We also take into account known factors surrounding specific customers and overall collection trends. Our process involves performing ongoing credit evaluations of customers, including the market in which they operate and the overall economic conditions. We continually review historical trends and make adjustments to the allowance for doubtful accounts as appropriate. Our allowance for doubtful accounts totaled $9.3 million and $9.8 million as of December 31, 2013 and 2012, respectively. | ||
Foreign Currency | ' | |
Foreign Currency | ||
Our functional currency is the U.S. dollar, whereas, our foreign operations utilize the local currency as their functional currency. Accordingly, for purposes of translating foreign subsidiary financial statements to the U.S. dollar reporting currency, assets and liabilities of our foreign operations are translated at the fiscal year end exchange rates and income and expenses are translated monthly, at the average exchange rates for each respective month, with changes recognized in other comprehensive loss. | ||
Claims and Insurance Accruals | ' | |
Claims and Insurance Accruals | ||
Claims and insurance accruals, both current and long-term, reflect the estimated settlement cost of claims for workers' compensation, cargo loss and damage, and property damage and liability that insurance does not cover. We establish and modify reserve estimates for workers' compensation and property damage and liability claims primarily upon actuarial analyses prepared by independent actuaries. These reserves are discounted to present value using a risk-free rate based on the year of occurrence. | ||
Stock Compensation Plans | ' | |
Stock Compensation Plans | ||
We have various stock-based employee compensation plans, which are described more fully in the "Stock Compensation Plans" footnote to our consolidated financial statements. We recognize compensation costs for non-vested shares and compensation cost for all share-based payments (i.e., options) based on the grant date fair value. Additionally, we recognize compensation cost for all share-based payments granted on a straight-line basis over the requisite service period (generally three to four years) based on the grant-date fair value. | ||
Property and Equipment | ' | |
We carry property and equipment at cost less accumulated depreciation. We compute depreciation using the straight-line method based on the following service lives: | ||
Years | ||
Structures | 30-Oct | |
Revenue equipment | 20-Oct | |
Technology equipment and software | 7-Mar | |
Other | 10-Mar | |
We charge maintenance and repairs to expense as incurred and betterments are capitalized. Leasehold improvements are capitalized and amortized over the remaining lease term. | ||
Our investment in technology equipment and software consists primarily of customer service and freight management equipment and related software. | ||
Impairment of Long-Lived Assets | ' | |
Impairment of Long-Lived Assets | ||
If facts and circumstances indicate that the carrying amount of held-and-used identifiable amortizable intangibles and property, plant and equipment may be impaired, we perform an evaluation of recoverability in accordance with FASB ASC Topic 360. Our evaluation compares the estimated future undiscounted cash flows associated with the asset or asset group to its carrying amount to determine if a reduction to the carrying amount is required. The carrying amount of an impaired asset would be reduced to fair value if the estimated undiscounted cash flows are insufficient to recover the carrying value of the asset group. | ||
Assets Held for Sale | ' | |
Assets Held for Sale | ||
When we plan to dispose of property or equipment by sale, the asset is carried in the financial statements at the lower of the carrying amount or estimated fair value, less cost to sell, and is reclassified to assets held for sale. Additionally, after such reclassification, there is no further depreciation taken on the asset. For an asset to be classified as held for sale, management must approve and commit to a formal plan, the sale should be anticipated during the ensuing year and the asset must be actively marketed, be available for immediate sale, and meet certain other specified criteria. We use level 3 inputs to determine the fair value of each property that is considered as held for sale. | ||
Earnings from Equity Method Investments | ' | |
Earnings from Equity Method Investments | ||
We account for the ownership of our joint venture under the equity method and accordingly, recognize our share of the respective joint ventures earnings in “Other nonoperating (income) expense” in the accompanying statements of operations. | ||
Fair Value of Financial Instruments | ' | |
Fair Value of Financial Instruments | ||
We determined fair value measurements used in our consolidated financial statements based upon the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity's own assumptions about market participant assumptions developed based on the best information available in circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below: | ||
• | Level 1: Valuations based on quoted prices in active markets for identical assets or liabilities that the entity has the ability to access. | |
• | Level 2: Valuations based on quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable data for substantially the full term of the assets or liabilities. | |
• | Level 3: Valuations based on inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. | |
The asset's or liability's fair value measurement level with the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used maximize the use of observable inputs and minimize the use of unobservable inputs. | ||
The valuation methodologies described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. We believe that our valuation methods are appropriate and consistent with other market participants. The use of different methodologies or assumptions to determine the fair value of certain financial assets could result in a different fair value measurement at the reporting date. |
Principles_of_Consolidation_Ta
Principles of Consolidation (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |||||||||||||||
Undiscounted Amounts And Material Changes In Insurance Claims [Table Text Block] | ' | |||||||||||||||
Expected aggregate undiscounted amounts and material changes to these amounts as of December 31 are presented below: | ||||||||||||||||
(in millions) | Workers' | Property Damage and Liability Claims | Total | |||||||||||||
Compensation | ||||||||||||||||
Undiscounted amount at December 31, 2011 | $ | 449.6 | $ | 79.9 | $ | 529.5 | ||||||||||
Estimated settlement cost for 2012 claims | 100.4 | 27.4 | 127.8 | |||||||||||||
Claim payments, net of recoveries | (140.9 | ) | (43.7 | ) | (184.6 | ) | ||||||||||
Change in estimated settlement cost for older claim years | (19.0 | ) | 1.5 | (17.5 | ) | |||||||||||
Undiscounted amount at December 31, 2012 | $ | 390.1 | $ | 65.1 | $ | 455.2 | ||||||||||
Estimated settlement cost for 2013 claims | 89.2 | 36.7 | 125.9 | |||||||||||||
Claim payments, net of recoveries | (115.6 | ) | (24.3 | ) | (139.9 | ) | ||||||||||
Change in estimated settlement cost for older claim years | (16.7 | ) | (8.7 | ) | (25.4 | ) | ||||||||||
Undiscounted settlement cost estimate at December 31, 2013 | $ | 347 | $ | 68.8 | $ | 415.8 | ||||||||||
Discounted settlement cost estimate at December 31, 2013 | $ | 316.6 | $ | 68.2 | $ | 384.8 | ||||||||||
Estimated Cash Payments To Settle Claims [Table Text Block] | ' | |||||||||||||||
Estimated cash payments to settle claims which were incurred on or before December 31, 2013, for the next five years and thereafter are as follows: | ||||||||||||||||
(in millions) | Workers' | Property Damage and Liability Claims | Total | |||||||||||||
Compensation | ||||||||||||||||
2014 | $ | 84.3 | $ | 23.2 | $ | 107.5 | ||||||||||
2015 | 59 | 18.6 | 77.6 | |||||||||||||
2016 | 41.5 | 13.7 | 55.2 | |||||||||||||
2017 | 30.2 | 6.9 | 37.1 | |||||||||||||
2018 | 22.8 | 3.9 | 26.7 | |||||||||||||
Thereafter | 109.2 | 2.5 | 111.7 | |||||||||||||
Total | $ | 347 | $ | 68.8 | $ | 415.8 | ||||||||||
Property, Plant and Equipment [Table Text Block] | ' | |||||||||||||||
The following is a summary of the components of our property and equipment at cost as of December 31: | ||||||||||||||||
(in millions) | 2013 | 2012 | ||||||||||||||
Land | $ | 267.8 | $ | 269.6 | ||||||||||||
Structures | 810.4 | 825.8 | ||||||||||||||
Revenue equipment | 1,438.30 | 1,442.80 | ||||||||||||||
Technology equipment and software | 133.9 | 127 | ||||||||||||||
Other | 193.8 | 203.8 | ||||||||||||||
Total cost | $ | 2,844.20 | $ | 2,869.00 | ||||||||||||
Schedule of Service Lives for Property, Plant and Equipment [Table Text Block] | ' | |||||||||||||||
We carry property and equipment at cost less accumulated depreciation. We compute depreciation using the straight-line method based on the following service lives: | ||||||||||||||||
Years | ||||||||||||||||
Structures | 30-Oct | |||||||||||||||
Revenue equipment | 20-Oct | |||||||||||||||
Technology equipment and software | 7-Mar | |||||||||||||||
Other | 10-Mar | |||||||||||||||
Schedule of Equity Method Investments [Table Text Block] | ' | |||||||||||||||
The following reflects the components of these results for the years ended December 31: | ||||||||||||||||
(in millions) | 2013 | 2012 | 2011 | |||||||||||||
Our share of joint venture earnings | $ | (2.1 | ) | $ | (1.9 | ) | $ | (2.7 | ) | |||||||
Impairment charge | — | 30.8 | — | |||||||||||||
Net equity method (earnings) losses | $ | (2.1 | ) | $ | 28.9 | $ | (2.7 | ) | ||||||||
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | ' | |||||||||||||||
The following tables summarize the fair value hierarchy of our financial assets held at fair value on a recurring basis, which consists of our restricted cash held in escrow: | ||||||||||||||||
Fair Value Measurement at December 31, 2013 | ||||||||||||||||
(in millions) | Total Carrying | Quoted prices | Significant | Significant | ||||||||||||
Value | in active market | other | unobservable | |||||||||||||
(Level 1) | observable | inputs | ||||||||||||||
inputs (Level 2) | (Level 3) | |||||||||||||||
Restricted amounts held in escrow-current | $ | 90.1 | $ | 90.1 | $ | — | $ | — | ||||||||
Restricted amounts held in escrow-long term | 0.6 | 0.6 | — | — | ||||||||||||
Total assets at fair value | $ | 90.7 | $ | 90.7 | $ | — | $ | — | ||||||||
Fair Value Measurement at December 31, 2012 | ||||||||||||||||
(in millions) | Total Carrying | Quoted prices | Significant | Significant | ||||||||||||
Value | in active market | other | unobservable | |||||||||||||
(Level 1) | observable | inputs | ||||||||||||||
inputs (Level 2) | (Level 3) | |||||||||||||||
Restricted amounts held in escrow-current | $ | 20 | $ | 20 | $ | — | $ | — | ||||||||
Restricted amounts held in escrow-long term | 102.5 | 102.5 | — | — | ||||||||||||
Total assets at fair value | $ | 122.5 | $ | 122.5 | $ | — | $ | — | ||||||||
Intangibles_Tables
Intangibles (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||
Schedule of Finite-Lived Intangible Assets [Table Text Block] | ' | |||||||||||||||
The components of amortizable intangible assets are as follows at December 31: | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Weighted | Gross | Gross | ||||||||||||||
Average | Carrying | Accumulated | Carrying | Accumulated | ||||||||||||
(in millions) | Life (years) | Amount | Amortization | Amount | Amortization | |||||||||||
Customer related | 12 | $ | 197.9 | $ | (147.4 | ) | $ | 198.2 | $ | (129.1 | ) | |||||
Marketing related | 0 | 2.4 | (2.4 | ) | 2.4 | (2.4 | ) | |||||||||
Technology based | 0 | 24.2 | (24.2 | ) | 24.2 | (24.2 | ) | |||||||||
Intangible assets | $ | 224.5 | $ | (174.0 | ) | $ | 224.8 | $ | (155.7 | ) | ||||||
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | ' | |||||||||||||||
Estimated amortization expense for the next five years is as follows: | ||||||||||||||||
(in millions) | 2014 | 2015 | 2016 | 2017 | 2018 | |||||||||||
Estimated amortization expense | $ | 18.6 | $ | 18.3 | $ | 13.6 | $ | — | $ | — | ||||||
Schedule Of Indefinite Lived Intangible Assets [Table Text Block] | ' | |||||||||||||||
The following table shows the changes in the carrying amount of our indefinite lived tradenames attributable to each applicable segment: | ||||||||||||||||
(in millions) | YRC Freight | Regional Transportation | Total | |||||||||||||
Balances at December 31, 2010 | $ | 11.4 | $ | 18.7 | $ | 30.1 | ||||||||||
Change in foreign currency exchange rates | (0.2 | ) | — | (0.2 | ) | |||||||||||
Balances at December 31, 2011 | 11.2 | 18.7 | 29.9 | |||||||||||||
Change in foreign currency exchange rates | 0.2 | — | 0.2 | |||||||||||||
Balances at December 31, 2012 | 11.4 | 18.7 | 30.1 | |||||||||||||
Change in foreign currency exchange rates | (0.8 | ) | — | (0.8 | ) | |||||||||||
Balances at December 31, 2013 | $ | 10.6 | $ | 18.7 | $ | 29.3 | ||||||||||
Network_Optimization_Tables
Network Optimization (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Restructuring and Related Activities [Abstract] | ' | |||||||||
Schedule of Restructuring and Related Costs [Table Text Block] | ' | |||||||||
A rollforward of our restructuring accrual (which includes both our 2013 Network Optimization and our 2010 restructuring) is as follows: | ||||||||||
(in millions) | Employee | Contract Termination and Other Costs | Total | |||||||
Separation | ||||||||||
Balance at December 31, 2010 | $ | 2.6 | $ | 10.9 | $ | 13.5 | ||||
Payments | (2.6 | ) | (6.5 | ) | (9.1 | ) | ||||
Balance at December 31, 2011 | $ | — | $ | 4.4 | $ | 4.4 | ||||
Payments | — | (3.9 | ) | (3.9 | ) | |||||
Balance at December 31, 2012 | $ | — | $ | 0.5 | $ | 0.5 | ||||
Network optimization charges | 1.3 | 5 | 6.3 | |||||||
Payments | (1.1 | ) | (4.9 | ) | (6.0 | ) | ||||
Balance at December 31, 2013 | $ | 0.2 | $ | 0.6 | $ | 0.8 | ||||
Other_Assets_Tables
Other Assets (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ' | ||||||||
Schedule of Other Assets [Table Text Block] | ' | ||||||||
The primary components of other assets at December 31 are as follows: | |||||||||
(in millions) | 2013 | 2012 | |||||||
Equity method investment for JHJ International Transportation Co., Ltd. | $ | 23.4 | $ | 22.3 | |||||
Deferred debt costs | 18.5 | 14.5 | |||||||
Other | 36.6 | 21.5 | |||||||
Total | $ | 78.5 | $ | 58.3 | |||||
Employee_Benefits_Tables
Employee Benefits (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | ||||||||||||||||||
Reconciliation of the beginning and ending balances of projected benefit obligation and fair value of plan assets [Table Text Block] | ' | ||||||||||||||||||
The reconciliation of the beginning and ending balances of the projected benefit obligation and the fair value of plan assets for the years ended December 31, 2013 and 2012, and the funded status at December 31, 2013 and 2012, is as follows: | |||||||||||||||||||
(in millions) | 2013 | 2012 | |||||||||||||||||
Change in benefit obligation: | |||||||||||||||||||
Benefit obligation at beginning of year | $ | 1,345.70 | $ | 1,166.20 | |||||||||||||||
Service cost | 4.3 | 3.9 | |||||||||||||||||
Interest cost | 56.2 | 59.3 | |||||||||||||||||
Benefits paid | (76.5 | ) | (63.1 | ) | |||||||||||||||
Actuarial (gain) loss | (131.6 | ) | 192.1 | ||||||||||||||||
Expenses paid from assets | (9.6 | ) | (12.7 | ) | |||||||||||||||
Other | 0.3 | — | |||||||||||||||||
Benefit obligation at year end | $ | 1,188.80 | $ | 1,345.70 | |||||||||||||||
Change in plan assets: | |||||||||||||||||||
Fair value of plan assets at prior year end | $ | 799.4 | $ | 727.7 | |||||||||||||||
Actual return on plan assets | 31.9 | 72.2 | |||||||||||||||||
Employer contributions | 62.9 | 75.3 | |||||||||||||||||
Benefits paid | (76.5 | ) | (63.1 | ) | |||||||||||||||
Expenses paid from assets | (9.6 | ) | (12.7 | ) | |||||||||||||||
Other | 0.3 | — | |||||||||||||||||
Fair value of plan assets at year end | $ | 808.4 | $ | 799.4 | |||||||||||||||
Funded status at year end | $ | (380.4 | ) | $ | (546.3 | ) | |||||||||||||
Amounts recognized for pension [Table Text Block] | ' | ||||||||||||||||||
Amounts recognized in the consolidated balance sheets for pension benefits at December 31 are as follows: | |||||||||||||||||||
(in millions) | 2013 | 2012 | |||||||||||||||||
Noncurrent assets | $ | 1.7 | $ | — | |||||||||||||||
Current liabilities | 0.6 | 0.6 | |||||||||||||||||
Noncurrent liabilities | 381.5 | 545.7 | |||||||||||||||||
Amounts recognized in accumulated other comprehensive loss [Table Text Block] | ' | ||||||||||||||||||
Amounts recognized in accumulated other comprehensive loss at December 31 consist of: | |||||||||||||||||||
(in millions) | 2013 | 2012 | |||||||||||||||||
Net actuarial loss | $ | 389.2 | $ | 511.8 | |||||||||||||||
Information for penison plans with ABO in excess of plan assets [Table Text Block] | ' | ||||||||||||||||||
Information for pension plans with an ABO in excess of plan assets at December 31, 2013 is as follows: | |||||||||||||||||||
(in millions) | ABO Exceeds Assets | Assets Exceed ABO | Total | ||||||||||||||||
Projected benefit obligation | $ | 1,182.10 | $ | 5.3 | $ | 1,187.40 | |||||||||||||
Accumulated benefit obligation | 1,182.10 | 6.7 | 1,188.80 | ||||||||||||||||
Fair value of plan assets | 799.9 | 8.5 | 808.4 | ||||||||||||||||
Schedule of assumptions used [Table Text Block] | ' | ||||||||||||||||||
Weighted average actuarial assumptions used to determine benefit obligations at December 31: | |||||||||||||||||||
2013 | 2012 | ||||||||||||||||||
Discount rate | 5.23 | % | 4.28 | % | |||||||||||||||
Weighted average assumptions used to determine net periodic benefit cost for the years ended December 31: | |||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||
Discount rate | 4.28 | % | 5.23 | % | 5.79 | % | |||||||||||||
Expected rate of return on assets | 7 | % | 7 | % | 7 | % | |||||||||||||
Mortality table | RP-2000 | RP-2000 | RP-2000 Projected to 2011 | ||||||||||||||||
Projected to 2013 | Projected to 2012 | ||||||||||||||||||
Schedule of expected benefit payments [Table Text Block] | ' | ||||||||||||||||||
Expected benefit payments from our qualified and non-qualified defined benefit pension plans for each of the next five years and the total payments for the following five years ended December 31 are as follows: | |||||||||||||||||||
(in millions) | 2014 | 2015 | 2016 | 2017 | 2018 | 2019-2023 | |||||||||||||
Expected benefit payments | $ | 70.5 | $ | 71.7 | $ | 71.7 | $ | 72 | $ | 74 | $ | 384.6 | |||||||
Components of net periodic pension cost recognized in other comprehensive income [Table Text Block] | ' | ||||||||||||||||||
The reconciliation of the beginning and ending balances of the projected benefit obligation and the fair value of plan assets for the years ended December 31, 2013 and 2012, and the funded status at December 31, 2013 and 2012, is as follows: | |||||||||||||||||||
(in millions) | 2013 | 2012 | |||||||||||||||||
Change in benefit obligation: | |||||||||||||||||||
Benefit obligation at beginning of year | $ | 1,345.70 | $ | 1,166.20 | |||||||||||||||
Service cost | 4.3 | 3.9 | |||||||||||||||||
Interest cost | 56.2 | 59.3 | |||||||||||||||||
Benefits paid | (76.5 | ) | (63.1 | ) | |||||||||||||||
Actuarial (gain) loss | (131.6 | ) | 192.1 | ||||||||||||||||
Expenses paid from assets | (9.6 | ) | (12.7 | ) | |||||||||||||||
Other | 0.3 | — | |||||||||||||||||
Benefit obligation at year end | $ | 1,188.80 | $ | 1,345.70 | |||||||||||||||
Change in plan assets: | |||||||||||||||||||
Fair value of plan assets at prior year end | $ | 799.4 | $ | 727.7 | |||||||||||||||
Actual return on plan assets | 31.9 | 72.2 | |||||||||||||||||
Employer contributions | 62.9 | 75.3 | |||||||||||||||||
Benefits paid | (76.5 | ) | (63.1 | ) | |||||||||||||||
Expenses paid from assets | (9.6 | ) | (12.7 | ) | |||||||||||||||
Other | 0.3 | — | |||||||||||||||||
Fair value of plan assets at year end | $ | 808.4 | $ | 799.4 | |||||||||||||||
Funded status at year end | $ | (380.4 | ) | $ | (546.3 | ) | |||||||||||||
Schedule of Costs of Retirement Plans [Table Text Block] | ' | ||||||||||||||||||
The components of our net periodic pension cost, other post-retirement costs and other amounts recognized in other comprehensive loss for the years ended December 31, 2013, 2012 and 2011 were as follows: | |||||||||||||||||||
(in millions) | 2013 | 2012 | 2011 | ||||||||||||||||
Net periodic benefit cost: | |||||||||||||||||||
Service cost | $ | 4.3 | $ | 3.9 | $ | 3.6 | |||||||||||||
Interest cost | 56.2 | 59.3 | 61.2 | ||||||||||||||||
Expected return on plan assets | (55.6 | ) | (51.1 | ) | (43.0 | ) | |||||||||||||
Amortization of prior net loss | 14.8 | 9 | 9.6 | ||||||||||||||||
Net periodic pension cost | $ | 19.7 | $ | 21.1 | $ | 31.4 | |||||||||||||
Other changes in plan assets and benefit obligations recognized in other comprehensive loss: | |||||||||||||||||||
Net actuarial loss (gain) and other adjustments | $ | (107.7 | ) | $ | 170.4 | $ | 3.6 | ||||||||||||
Less amortization of prior losses | (14.8 | ) | (9.0 | ) | (9.6 | ) | |||||||||||||
Total recognized in other comprehensive loss (income) | (122.5 | ) | 161.4 | (6.0 | ) | ||||||||||||||
Total recognized in net periodic benefit cost and other comprehensive (income) loss | $ | (102.8 | ) | $ | 182.5 | $ | 25.4 | ||||||||||||
Pension assets at fair value [Table Text Block] | ' | ||||||||||||||||||
The table below details by level, within the fair value hierarchy, the pension assets at fair value as of December 31, 2013: | |||||||||||||||||||
Pension Assets at Fair Value as of December 31, 2013 | |||||||||||||||||||
(in millions) | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||
Equities | $ | 113.3 | $ | 106.4 | $ | — | $ | 219.7 | |||||||||||
Private equities | — | — | 60.3 | 60.3 | |||||||||||||||
Fixed income: | |||||||||||||||||||
Corporate | 4.3 | 106.5 | 38.6 | 149.4 | |||||||||||||||
Government | 98 | 102.8 | — | 200.8 | |||||||||||||||
Other | 10.1 | — | — | 10.1 | |||||||||||||||
Absolute return | 6.2 | 138.6 | — | 144.8 | |||||||||||||||
Interest bearing | 23.3 | — | — | 23.3 | |||||||||||||||
Total investments | $ | 255.2 | $ | 454.3 | $ | 98.9 | $ | 808.4 | |||||||||||
Other assets, net | — | ||||||||||||||||||
Total plan assets | $ | 255.2 | $ | 454.3 | $ | 98.9 | $ | 808.4 | |||||||||||
The table below details by level, within the fair value hierarchy, the pension assets at fair value as of December 31, 2012: | |||||||||||||||||||
Pension Assets at Fair Value as of December 31, 2012 | |||||||||||||||||||
(in millions) | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||
Equities | $ | 79.9 | $ | 92.5 | — | $ | 172.4 | ||||||||||||
Private equities | — | — | 38.8 | 38.8 | |||||||||||||||
Fixed income: | |||||||||||||||||||
Corporate | 15.3 | 89.9 | 35.5 | 140.7 | |||||||||||||||
Government | 109.1 | 145.2 | — | 254.3 | |||||||||||||||
Absolute return | 0.6 | 157.1 | — | 157.7 | |||||||||||||||
Interest bearing | 34 | — | — | 34 | |||||||||||||||
Total investments | $ | 238.9 | $ | 484.7 | $ | 74.3 | $ | 797.9 | |||||||||||
Other assets, net | 1.5 | ||||||||||||||||||
Total plan assets | $ | 238.9 | $ | 484.7 | $ | 74.3 | $ | 799.4 | |||||||||||
Assets measured at fair value on a recurring basis (Level 3) [Table Text Block] | ' | ||||||||||||||||||
The table below presents the activity of our assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3): | |||||||||||||||||||
(in millions) | Private | Fixed income | Total Level 3 | ||||||||||||||||
Equities | |||||||||||||||||||
Balance at December 31, 2011 | $ | 29 | $ | 14.6 | $ | 43.6 | |||||||||||||
Purchases | 8.4 | 25.6 | 34 | ||||||||||||||||
Sales | (2.0 | ) | (5.2 | ) | (7.2 | ) | |||||||||||||
Unrealized gain (loss) | 3.4 | 0.5 | 3.9 | ||||||||||||||||
Balance at December 31, 2012 | $ | 38.8 | $ | 35.5 | $ | 74.3 | |||||||||||||
Purchases | 6.4 | 9.6 | 16 | ||||||||||||||||
Sales | (6.4 | ) | (5.3 | ) | (11.7 | ) | |||||||||||||
Unrealized gain (loss) | 21.5 | (1.2 | ) | 20.3 | |||||||||||||||
Balance at December 31, 2013 | $ | 60.3 | $ | 38.6 | $ | 98.9 | |||||||||||||
Level 3 assets using NAV [Table Text Block] | ' | ||||||||||||||||||
The following table sets forth a summary of the Level 3 assets for which the fair value is not readily determinable but a reported NAV is used to estimate the fair value as of December 31, 2013: | |||||||||||||||||||
Fair value estimated using Net Asset Value per Share | |||||||||||||||||||
(in millions) | Fair Value | Unfunded Commitments | Redemption Frequency | Redemption Notice Period | |||||||||||||||
Private equities (a) | $ | 60.3 | $ | 18 | Redemptions not permitted | ||||||||||||||
Fixed income (b) | 38.6 | 16 | Redemptions not permitted | ||||||||||||||||
Total | $ | 98.9 | |||||||||||||||||
(a) | Consists of five private equity funds investing in renewable solar energy, acquisition of pharmaceutical company interests, Chinese technology and healthcare companies. | ||||||||||||||||||
(b) | Consists of three fixed income funds which invest in debt securities secured by royalty payments from marketers of pharmaceutical products. | ||||||||||||||||||
The following table sets forth a summary of the Level 3 assets for which the fair value is not readily determinable but a reported NAV is used to estimate the fair value as of December 31, 2012: | |||||||||||||||||||
Fair value estimated using Net Asset Value per Share | |||||||||||||||||||
(in millions) | Fair Value | Unfunded Commitments | Redemption Frequency | Redemption Notice Period | |||||||||||||||
Private equities (a) | $ | 38.8 | $ | 14.2 | Redemptions not permitted | ||||||||||||||
Fixed income (b) | 35.5 | 3 | Varies (c) | ||||||||||||||||
Total | $ | 74.3 | |||||||||||||||||
(a) | Consists of four private equity funds investing in renewable solar energy, acquisition of pharmaceutical company interests and Chinese technology and healthcare companies. | ||||||||||||||||||
(b) | Consists of three fixed income funds, two of which invest in debt securities secured by royalty payments from top-tier marketers of pharmaceutical products, and one which invests in Indian mezzanine debt. | ||||||||||||||||||
(c) | Redemptions are not permitted for two of the Level 3 fixed income funds. The third fund has redemption terms of quarterly after the second anniversary and a 90 day redemption notice period. | ||||||||||||||||||
Schedule of multiemployer plans [Table Text Block] | ' | ||||||||||||||||||
We expensed the following amounts related to these plans for the years ended December 31: | |||||||||||||||||||
(in millions) | 2013 | 2012 | 2011 | ||||||||||||||||
Health and welfare | $ | 399.5 | $ | 387.5 | $ | 378.2 | |||||||||||||
Pension | 89.1 | 85.6 | 48.7 | ||||||||||||||||
Total | $ | 488.6 | $ | 473.1 | $ | 426.9 | |||||||||||||
The following table provides additional information related to our participation in individually significant multi-employer pension plans for the year ended December 31, 2013: | |||||||||||||||||||
Pension Protection Zone Status (b) | Funding Improvement or | Employer Surcharge Imposed | Expiration Date of Collective-Bargaining Agreement | ||||||||||||||||
Rehabilitation Plan | |||||||||||||||||||
Pension Fund (a) | EIN Number | 2013 | 2012 | ||||||||||||||||
Central States, Southwest and Southwest Areas Pension Fund | 36-6044243 | Red | Red | Yes | No | 3/31/19 | |||||||||||||
Teamsters National 401K Savings Plan (c) | 52-1967784 | N/A | N/A | N/A | No | 3/31/19 | |||||||||||||
I.B. of T. Union Local No 710 Pension Fund | 36-2377656 | Green | Green | No | No | 3/31/19 | |||||||||||||
Central Pennsylvania Teamsters Defined Benefit Plan | 23-6262789 | Yellow | Green | Yes | No | 3/31/19 | |||||||||||||
Road Carriers Local 707 Pension Fund | 51-6106510 | Not Available | Red | Yes | No | 3/31/19 | |||||||||||||
Teamsters Local 641 Pension Fund | 22-6220288 | Red | Red | Yes | No | 3/31/19 | |||||||||||||
(a) The determination of individually significant multi-employer plans is based on the relative contributions to the plans over the periods presented as well as other factors. | |||||||||||||||||||
(b) The Pension Protection Zone Status is based on information that the Company obtained from the plans' Forms 5500. Unless otherwise noted, the most recent Pension Protection Act (PPA) zone status available for 2013 and 2012 is for the plan's year-end during calendar years 2012 and 2011, respectively. Among other factors, plans in the red zone are generally less than 65 percent funded, plans in the yellow zone are less than 80 percent funded, and plans in the green zone are at least 80 percent funded. | |||||||||||||||||||
(c) The policies of the Western Conference of Teamsters Pension Trust precluded the Company from reentering the plan on June 1, 2011. The plan did not assess a withdrawal liability and has not done so since June 1, 2011. Contributions related to the employees previously covered by this plan are now being made to the Teamsters National 401(k) Plan. | |||||||||||||||||||
Schedule of multiemployer plans [Table Text Block] | ' | ||||||||||||||||||
We expensed the following amounts related to these plans for the years ended December 31: | |||||||||||||||||||
(in millions) | 2013 | 2012 | 2011 | ||||||||||||||||
Health and welfare | $ | 399.5 | $ | 387.5 | $ | 378.2 | |||||||||||||
Pension | 89.1 | 85.6 | 48.7 | ||||||||||||||||
Total | $ | 488.6 | $ | 473.1 | $ | 426.9 | |||||||||||||
The following table provides additional information related to our participation in individually significant multi-employer pension plans for the year ended December 31, 2013: | |||||||||||||||||||
Pension Protection Zone Status (b) | Funding Improvement or | Employer Surcharge Imposed | Expiration Date of Collective-Bargaining Agreement | ||||||||||||||||
Rehabilitation Plan | |||||||||||||||||||
Pension Fund (a) | EIN Number | 2013 | 2012 | ||||||||||||||||
Central States, Southwest and Southwest Areas Pension Fund | 36-6044243 | Red | Red | Yes | No | 3/31/19 | |||||||||||||
Teamsters National 401K Savings Plan (c) | 52-1967784 | N/A | N/A | N/A | No | 3/31/19 | |||||||||||||
I.B. of T. Union Local No 710 Pension Fund | 36-2377656 | Green | Green | No | No | 3/31/19 | |||||||||||||
Central Pennsylvania Teamsters Defined Benefit Plan | 23-6262789 | Yellow | Green | Yes | No | 3/31/19 | |||||||||||||
Road Carriers Local 707 Pension Fund | 51-6106510 | Not Available | Red | Yes | No | 3/31/19 | |||||||||||||
Teamsters Local 641 Pension Fund | 22-6220288 | Red | Red | Yes | No | 3/31/19 | |||||||||||||
(a) The determination of individually significant multi-employer plans is based on the relative contributions to the plans over the periods presented as well as other factors. | |||||||||||||||||||
(b) The Pension Protection Zone Status is based on information that the Company obtained from the plans' Forms 5500. Unless otherwise noted, the most recent Pension Protection Act (PPA) zone status available for 2013 and 2012 is for the plan's year-end during calendar years 2012 and 2011, respectively. Among other factors, plans in the red zone are generally less than 65 percent funded, plans in the yellow zone are less than 80 percent funded, and plans in the green zone are at least 80 percent funded. | |||||||||||||||||||
(c) The policies of the Western Conference of Teamsters Pension Trust precluded the Company from reentering the plan on June 1, 2011. The plan did not assess a withdrawal liability and has not done so since June 1, 2011. Contributions related to the employees previously covered by this plan are now being made to the Teamsters National 401(k) Plan. | |||||||||||||||||||
Pension amounts contributed by fund [Table Text Block] | ' | ||||||||||||||||||
The following table provides the pension amounts contributed by fund for those funds that are considered to be individually significant: | |||||||||||||||||||
(in millions) | 2013 | 2012 | 2011 | ||||||||||||||||
Central States, Southeast and Southwest Areas Pension Plan | $ | 52.1 | $ | 51.9 | $ | 27.6 | |||||||||||||
Teamsters National 401K Savings Plan | 11.2 | 11 | 5.8 | ||||||||||||||||
I.B. of T. Union Local No 710 Pension Fund | 4.4 | 4.1 | 2.2 | ||||||||||||||||
Central Pennsylvania Teamsters Defined Benefit Plan | 4.5 | 4.5 | 2.3 | ||||||||||||||||
Road Carriers Local 707 Pension Fund | 2.3 | 2.5 | 1.2 | ||||||||||||||||
Teamsters Local 641 Pension Fund | 1.6 | 1.6 | 0.8 | ||||||||||||||||
2014_Financing_Transactions_Ta
2014 Financing Transactions (Tables) | 0 Months Ended | 12 Months Ended | ||||||||||||||||
Feb. 13, 2014 | Dec. 31, 2013 | |||||||||||||||||
Debt Disclosure [Abstract] | ' | ' | ||||||||||||||||
Schedule of Price Grid Based on Average Quarterly Excess Availability Under Revolver [Table Text Block] | ' | ' | ||||||||||||||||
Thereafter, the interest rates will be subject to the following price grid based on the average quarterly excess availability under the revolver: | ||||||||||||||||||
Average Quarterly | Base Rate | LIBOR | ||||||||||||||||
Level | Excess Capacity | Plus | Plus | |||||||||||||||
I | > $140,000,000 | 1.00% | 2.00% | |||||||||||||||
II | > $70,000,000 | 1.25% | 2.25% | |||||||||||||||
< $140,000,000 | ||||||||||||||||||
III | < $70,000,000 | 1.50% | 2.50% | |||||||||||||||
Non cash activity related to restructuring [Table Text Block] | ' | ' | ||||||||||||||||
The table below summarizes the non-cash activity for the 2014 Financing Transactions: | ||||||||||||||||||
Non-Cash Sources (in millions) | Non-Cash Uses (in millions) | |||||||||||||||||
Secured Second A&R CDA | $ | 51 | A&R CDA | $ | 124 | |||||||||||||
Unsecured Second A&R CDA | 73 | Exchange/conversion of Series B Notes to common stock | 50.6 | |||||||||||||||
Exchange/conversion of Series B Notes to common stock | 50.6 | |||||||||||||||||
Total sources | $ | 174.6 | Total uses | $ | 174.6 | |||||||||||||
Cash Flow Activity Related To Restructuring [Table Text Block] | ' | ' | ||||||||||||||||
The table below summarizes the cash flow activity for the 2014 Financing Transactions: | ||||||||||||||||||
Cash Sources (in millions) | Cash Uses (in millions) | |||||||||||||||||
New Term Loan | $ | 700 | Extinguish Prior ABL Facility (includes accrued interest) | $ | 326 | |||||||||||||
Proceeds from sale of common stock | 215 | Extinguish Prior Term Loan (includes accrued interest) | 299.7 | |||||||||||||||
Proceeds from sale of preferred stock | 35 | Retire 6% Notes | 71.5 | |||||||||||||||
Cash proceeds from restricted amounts held in escrow - existing ABL facility | 90 | Repurchase Series A Notes (upon transaction closing and includes accrued interest) | 93.9 | |||||||||||||||
New ABL Facility | — | Redeem Series A Notes (on August 5, 2014 and includes accrued interest) | 89.6 | |||||||||||||||
Fees, Expenses and Original Issuance Discount | 49 | |||||||||||||||||
Restricted Cash to Balance Sheet (a) | 90 | |||||||||||||||||
Cash to Balance Sheet | 20.3 | |||||||||||||||||
Total sources | $ | 1,040.00 | Total uses | $ | 1,040.00 | |||||||||||||
(a) | Under the terms of the New ABL facility, a portion of the Cash to Balance sheet will be classified as "restricted cash" in the consolidated balance sheet. | |||||||||||||||||
The table below summarizes the cash flow activity as it related to the restructuring as of July 22, 2011: | ||||||||||||||||||
Sources of Funds (in millions) | Uses of Funds (in millions) | |||||||||||||||||
Issuance of Series B Notes | $ | 100 | Retirement of ABS facility borrowings | $ | 164.2 | |||||||||||||
Borrowings on the Prior ABL Facility | 255 | Restricted amounts held in escrow - Standby Letter of Credit Agreement | 64.7 | |||||||||||||||
Additional borrowings under the revolving credit facility | 18.5 | Fees, expenses and original issue discount of restructuring | 57 | |||||||||||||||
Company cash | 2.4 | Restricted amounts held in escrow - Prior ABL Facility | 90 | |||||||||||||||
Total sources of funds | $ | 375.9 | Total uses of funds | $ | 375.9 | |||||||||||||
Debt_And_Financing_Tables
Debt And Financing (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Debt [Table Text Block] | ' | ||||||||||||||||||||||||
As of December 31, 2013 (in millions) | Par Value | Premium/ | Book | Stated | Effective | ||||||||||||||||||||
(Discount) | Value | Interest Rate | Interest Rate | ||||||||||||||||||||||
Prior Term Loan | $ | 298.1 | $ | 37.7 | $ | 335.8 | 10 | % | — | % | |||||||||||||||
Term A Facility (capacity $175.0, borrowing base $156.5, availability $51.5)* | 105 | (2.1 | ) | 102.9 | 8.5 | % | 15.8 | % | |||||||||||||||||
Term B Facility (capacity $219.9, borrowing base $219.9, availability $0.0) | 219.9 | (3.9 | ) | 216 | 11.25 | % | 15 | % | |||||||||||||||||
Series A Notes | 177.8 | (17.8 | ) | 160 | 10 | % | 18.3 | % | |||||||||||||||||
Series B Notes | 69.2 | (10.5 | ) | 58.7 | 10 | % | 25.6 | % | |||||||||||||||||
6% Notes | 69.4 | (1.1 | ) | 68.3 | 6 | % | 15.5 | % | |||||||||||||||||
A&R CDA | 124.2 | (0.2 | ) | 124 | 3.25-18.25% | 7.3 | % | ||||||||||||||||||
Lease financing obligations | 297.5 | — | 297.5 | 10.0-18.2% | 11.9 | % | |||||||||||||||||||
Other | 0.2 | — | 0.2 | ||||||||||||||||||||||
Total debt | $ | 1,361.30 | $ | 2.1 | $ | 1,363.40 | |||||||||||||||||||
Current maturities of lease financing obligations | (8.4 | ) | — | (8.4 | ) | ||||||||||||||||||||
Current maturities of other | (0.2 | ) | — | (0.2 | ) | ||||||||||||||||||||
Long-term debt | $ | 1,352.70 | $ | 2.1 | $ | 1,354.80 | |||||||||||||||||||
*The effective interest rate on the Term A Facility is calculated based upon the capacity of the facility and not the par value. | |||||||||||||||||||||||||
As of December 31, 2012 (in millions) | Par Value | Premium/ | Book | Stated | Effective | ||||||||||||||||||||
(Discount) | Value | Interest Rate | Interest Rate | ||||||||||||||||||||||
Prior Term Loan | $ | 298.7 | $ | 67.6 | $ | 366.3 | 10 | % | — | % | |||||||||||||||
Term A Facility (capacity $175.0, borrowing base $147.6, availability $42.6)* | 105 | (4.8 | ) | 100.2 | 8.5 | % | 15.8 | % | |||||||||||||||||
Term B Facility (capacity $222.2, borrowing base $222.2, availability $0.0) | 222.2 | (8.5 | ) | 213.7 | 11.25 | % | 15 | % | |||||||||||||||||
Series A Notes | 161.2 | (27.8 | ) | 133.4 | 10 | % | 18.3 | % | |||||||||||||||||
Series B Notes | 91.5 | (25.4 | ) | 66.1 | 10 | % | 25.6 | % | |||||||||||||||||
6% Notes | 69.4 | (6.3 | ) | 63.1 | 6 | % | 15.5 | % | |||||||||||||||||
A&R CDA | 125.8 | (0.4 | ) | 125.4 | 3.0-18.0% | 7.1 | % | ||||||||||||||||||
Lease financing obligations | 306.9 | — | 306.9 | 10.0-18.2% | 11.9 | % | |||||||||||||||||||
Other | 0.3 | — | 0.3 | ||||||||||||||||||||||
Total debt | $ | 1,381.00 | $ | (5.6 | ) | $ | 1,375.40 | ||||||||||||||||||
Current maturities of ABL facility – Term B | (2.3 | ) | — | (2.3 | ) | ||||||||||||||||||||
Current maturities of 5.0% and 3.375% contingent convertible senior notes and other | (6.5 | ) | — | (6.5 | ) | ||||||||||||||||||||
Current maturities of lease financing obligations | (0.3 | ) | — | (0.3 | ) | ||||||||||||||||||||
Long-term debt | $ | 1,371.90 | $ | (5.6 | ) | $ | 1,366.30 | ||||||||||||||||||
Schedule of Maturities of Long-term Debt [Table Text Block] | ' | ||||||||||||||||||||||||
The principal maturities over the next five years and thereafter of total debt as of December 31, 2013 was as follows: | |||||||||||||||||||||||||
Prior Term | Prior ABL Facility (c) | Series A and B Notes (b) | 6% | Lease Financing Obligation (a) | A&R CDA | Other | Total | ||||||||||||||||||
(in millions) | Loan | Notes (c) | |||||||||||||||||||||||
2014 | $ | — | $ | 324.9 | $ | — | $ | 69.4 | $ | 8.4 | $ | — | $ | 0.2 | $ | 402.9 | |||||||||
2015 | 298.1 | — | 247 | — | 7.7 | 124.2 | — | 677 | |||||||||||||||||
2016 | — | — | — | — | 9.5 | — | — | 9.5 | |||||||||||||||||
2017 | — | — | — | — | 11.4 | — | — | 11.4 | |||||||||||||||||
2018 | — | — | — | — | 13.6 | — | — | 13.6 | |||||||||||||||||
Thereafter | — | — | — | — | 246.9 | — | — | 246.9 | |||||||||||||||||
Total | $ | 298.1 | $ | 324.9 | $ | 247 | $ | 69.4 | $ | 297.5 | $ | 124.2 | $ | 0.2 | $ | 1,361.30 | |||||||||
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block] | ' | ||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||
(in millions) | Carrying amount | Fair Value | Carrying amount | Fair Value | |||||||||||||||||||||
Prior Term Loan | $ | 335.8 | $ | 289.2 | $ | 366.3 | $ | 197.5 | |||||||||||||||||
Prior ABL Facility | 318.9 | 326.1 | 313.9 | 325.8 | |||||||||||||||||||||
Series A Notes and Series B Notes | 218.7 | 225.8 | 199.5 | 81.5 | |||||||||||||||||||||
Lease financing obligations | 297.5 | 297.5 | 306.9 | 306.9 | |||||||||||||||||||||
Other | 192.5 | 179.8 | 188.8 | 99.5 | |||||||||||||||||||||
Total debt | $ | 1,363.40 | $ | 1,318.40 | $ | 1,375.40 | $ | 1,011.20 | |||||||||||||||||
Liquidity_Tables
Liquidity (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Liquidity [Abstract] | ' | ||||
Schedule of Maximum Total Leverage Ratio for Remaining Test Periods [Table Text Block] | ' | ||||
We entered into a New Term Loan credit agreement with new financial covenants that, among other things, restricts certain capital expenditures and requires us to maintain a maximum total leverage ratio (defined as consolidated total debt divided by consolidated adjusted EBITDA) for future test periods as follows: | |||||
Four Consecutive Fiscal Quarters Ending | Maximum Total | Four Consecutive Fiscal Quarters Ending | Maximum Total | ||
Leverage Ratio | Leverage Ratio | ||||
June 30, 2014 | 6.00 to 1.00 | June 30, 2016 | 3.50 to 1.00 | ||
September 30, 2014 | 5.00 to 1.00 | September 30, 2016 | 3.50 to 1.00 | ||
December 31, 2014 | 4.50 to 1.00 | December 31, 2016 | 3.25 to 1.00 | ||
March 31, 2015 | 4.00 to 1.00 | March 31, 2017 | 3.25 to 1.00 | ||
June 30, 2015 | 3.75 to 1.00 | June 30, 2017 | 3.25 to 1.00 | ||
September 30, 2015 | 3.75 to 1.00 | September 30, 2017 | 3.25 to 1.00 | ||
December 31, 2015 | 3.75 to 1.00 | December 31, 2017 and thereafter | 3.00 to 1.00 | ||
March 31, 2016 | 3.50 to 1.00 |
2011_Financial_Restructuring_T
2011 Financial Restructuring (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Cash Flow Activity Related To Restructuring [Table Text Block] | ' | ||||||||
The table below summarizes the cash flow activity for the 2014 Financing Transactions: | |||||||||
Cash Sources (in millions) | Cash Uses (in millions) | ||||||||
New Term Loan | $ | 700 | Extinguish Prior ABL Facility (includes accrued interest) | $ | 326 | ||||
Proceeds from sale of common stock | 215 | Extinguish Prior Term Loan (includes accrued interest) | 299.7 | ||||||
Proceeds from sale of preferred stock | 35 | Retire 6% Notes | 71.5 | ||||||
Cash proceeds from restricted amounts held in escrow - existing ABL facility | 90 | Repurchase Series A Notes (upon transaction closing and includes accrued interest) | 93.9 | ||||||
New ABL Facility | — | Redeem Series A Notes (on August 5, 2014 and includes accrued interest) | 89.6 | ||||||
Fees, Expenses and Original Issuance Discount | 49 | ||||||||
Restricted Cash to Balance Sheet (a) | 90 | ||||||||
Cash to Balance Sheet | 20.3 | ||||||||
Total sources | $ | 1,040.00 | Total uses | $ | 1,040.00 | ||||
(a) | Under the terms of the New ABL facility, a portion of the Cash to Balance sheet will be classified as "restricted cash" in the consolidated balance sheet. | ||||||||
The table below summarizes the cash flow activity as it related to the restructuring as of July 22, 2011: | |||||||||
Sources of Funds (in millions) | Uses of Funds (in millions) | ||||||||
Issuance of Series B Notes | $ | 100 | Retirement of ABS facility borrowings | $ | 164.2 | ||||
Borrowings on the Prior ABL Facility | 255 | Restricted amounts held in escrow - Standby Letter of Credit Agreement | 64.7 | ||||||
Additional borrowings under the revolving credit facility | 18.5 | Fees, expenses and original issue discount of restructuring | 57 | ||||||
Company cash | 2.4 | Restricted amounts held in escrow - Prior ABL Facility | 90 | ||||||
Total sources of funds | $ | 375.9 | Total uses of funds | $ | 375.9 | ||||
Stock_Compensation_Plans_Table
Stock Compensation Plans (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||
Stock Options Outstanding [Table Text Block] | ' | ||||||||||||||||
The following table summarizes information about stock options outstanding as of December 31, 2013: | |||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||
Shares | Weighted Average Remaining Contractual | Weighted Average | Aggregate | Shares | Weighted Average | Aggregate | |||||||||||
Range of exercise prices | (in thousands) | Term (in years) | Exercise price | Intrinsic Value | (in thousands) | Exercise price | Intrinsic Value | ||||||||||
$ 3,600.00 - 35,475.00 | 33 | 6.17 | $ | 3,680.09 | $ | — | 33 | $ | 3,680.09 | $ | — | ||||||
Restricted Stock and Restricted Stock Units Activity [Table Text Block] | ' | ||||||||||||||||
A summary of the activity of our nonvested restricted stock and share unit awards is presented in the following table: | |||||||||||||||||
Shares | Weighted Average | ||||||||||||||||
(in thousands) | Grant-Date Fair Value | ||||||||||||||||
Nonvested at December 31, 2010 | — | — | |||||||||||||||
Granted | 271 | $ | 11.6 | ||||||||||||||
Vested | (1 | ) | 11.6 | ||||||||||||||
Forfeited | — | — | |||||||||||||||
Nonvested at December 31, 2011 | 270 | $ | 11.6 | ||||||||||||||
Granted | 586 | 11.34 | |||||||||||||||
Vested | (21 | ) | 8.85 | ||||||||||||||
Forfeited | (83 | ) | 11.63 | ||||||||||||||
Nonvested at December 31, 2012 | 752 | $ | 11.47 | ||||||||||||||
Granted | 429 | 6.24 | |||||||||||||||
Vested | (405 | ) | 10.27 | ||||||||||||||
Forfeited | (118 | ) | 10.54 | ||||||||||||||
Nonvested at December 31, 2013 | 658 | $ | 8.96 | ||||||||||||||
Restricted Stock And Restricted Stock Units Vesting Term [Table Text Block] | ' | ||||||||||||||||
The vesting provisions for the restricted stock and share unit awards and the related number of shares granted during the year ended December 31 are as follows: | |||||||||||||||||
Shares (in thousands) | |||||||||||||||||
Vesting Terms | 2013 | 2012 | 2011 | ||||||||||||||
50% immediately and 50% on the 1 year anniversary of the grant date | 187 | — | — | ||||||||||||||
50% on the 1 year anniversary of the grant date and 50% on the 2 year anniversary of the grant date | 150 | — | — | ||||||||||||||
25% per year for four years | 56 | 501 | 78 | ||||||||||||||
25% immediately and 25% on each employment anniversary thereafter | 18 | — | — | ||||||||||||||
100% immediately | 5 | — | — | ||||||||||||||
100% on February 20, 2013 | — | 72 | — | ||||||||||||||
33.3% immediately and 33.3% per year thereafter on the | 13 | 13 | 3 | ||||||||||||||
anniversary of the grant date | |||||||||||||||||
25% on January 1, 2013, 25% on the 2 year anniversary of the | — | 184 | |||||||||||||||
employment date, 25% on each employment anniversary thereafter | |||||||||||||||||
100% on July 27, 2013 | — | — | 6 | ||||||||||||||
Total restricted stock and share units granted | 429 | 586 | 271 | ||||||||||||||
Income_Taxes_Income_Taxes_Tabl
Income Taxes Income Taxes (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | |||||||||
Deferred tax liabilities (assets) were comprised of the following at December 31: | ||||||||||
(in millions) | 2013 | 2012 | ||||||||
Depreciation | $ | 295.2 | $ | 327.8 | ||||||
Deferred revenue | 17.2 | 12.2 | ||||||||
Intangibles | 29.5 | 36.3 | ||||||||
Gain on debt redemption | 64.3 | 63.9 | ||||||||
Other | 54.7 | 54.7 | ||||||||
Deferred tax liabilities | 460.9 | 494.9 | ||||||||
Claims and insurance | (169.2 | ) | (179.6 | ) | ||||||
Net operating loss carryforwards | (329.1 | ) | (298.8 | ) | ||||||
Employee benefit accruals | (237.9 | ) | (288.9 | ) | ||||||
Other | (176.7 | ) | (173.6 | ) | ||||||
Deferred tax assets | (912.9 | ) | (940.9 | ) | ||||||
Valuation allowance | 454.1 | 448.4 | ||||||||
Net deferred tax assets | (458.8 | ) | (492.5 | ) | ||||||
Net deferred tax liability | $ | 2.1 | $ | 2.4 | ||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | |||||||||
A reconciliation between income taxes at the federal statutory rate and the consolidated effective tax rate follows: | ||||||||||
2013 | 2012 | 2011 | ||||||||
Federal statutory rate | 35 | % | 35 | % | 35 | % | ||||
State income taxes, net | (2.4 | )% | (1.8 | )% | (1.1 | )% | ||||
Foreign tax rate differential | (0.1 | )% | 2.6 | % | — | % | ||||
Permanent differences | 2 | % | 8.6 | % | (6.3 | )% | ||||
Valuation allowance | (31.9 | )% | (39.8 | )% | (35.4 | )% | ||||
Benefit from intraperiod tax allocation under ASC 740 | 32.2 | % | — | % | — | % | ||||
Net (increase) decrease in unrecognized tax benefits | 0.6 | % | (1.7 | )% | 3.7 | % | ||||
Benefit from settlement of Tax Court litigation | — | % | 6.4 | % | — | % | ||||
Other, net | — | % | 0.6 | % | 6.2 | % | ||||
Effective tax rate | 35.4 | % | 9.9 | % | 2.1 | % | ||||
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | ' | |||||||||
The income tax provision (benefit) consisted of the following: | ||||||||||
(in millions) | 2013 | 2012 | 2011 | |||||||
Current: | ||||||||||
Federal | $ | (14.5 | ) | $ | (24.0 | ) | $ | (23.9 | ) | |
State | 1.4 | 2.5 | 11.3 | |||||||
Foreign | 9.6 | 2.7 | 5.3 | |||||||
Current income tax benefit | $ | (3.5 | ) | $ | (18.8 | ) | $ | (7.3 | ) | |
Deferred: | ||||||||||
Federal | $ | (41.7 | ) | $ | 5.5 | $ | (0.2 | ) | ||
State | — | 0.5 | — | |||||||
Foreign | (0.7 | ) | (2.2 | ) | — | |||||
Deferred income tax provision (benefit) | $ | (42.4 | ) | $ | 3.8 | $ | (0.2 | ) | ||
Income tax benefit | $ | (45.9 | ) | $ | (15.0 | ) | $ | (7.5 | ) | |
Based on the income (loss) before income taxes: | ||||||||||
Domestic | $ | (152.8 | ) | $ | (173.8 | ) | $ | (366.1 | ) | |
Foreign | 23.3 | 22.3 | 4.2 | |||||||
Loss before income taxes | $ | (129.5 | ) | $ | (151.5 | ) | $ | (361.9 | ) | |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | ' | |||||||||
A rollforward of the total amount of unrecognized tax benefits for the years ended December 31 is as follows: | ||||||||||
(in millions) | 2013 | 2012 | ||||||||
Unrecognized tax benefits at January 1 | $ | 29.7 | $ | 27.1 | ||||||
Increases related to: | ||||||||||
Tax positions taken during a prior period | 1.3 | 3.6 | ||||||||
Tax positions taken during the current period | 0.9 | 0.9 | ||||||||
Decreases related to: | ||||||||||
Lapse of applicable statute of limitations | (1.2 | ) | (1.9 | ) | ||||||
Settlements with taxing authorities | (3.1 | ) | — | |||||||
Unrecognized tax benefits at December 31 | $ | 27.6 | $ | 29.7 | ||||||
Summary of Income Tax Examinations [Table Text Block] | ' | |||||||||
Tax years that remain subject to examination for our major tax jurisdictions as of December 31, 2013: | ||||||||||
Statute remains open | 2005-2012 | |||||||||
Tax years currently under examination/exam completed | 2005-2012 | |||||||||
Tax years not examined | 2013 |
Segment_Reporting_Tables
Segment Reporting (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | |||||||||||||||||||
The following table summarizes our operations by business segment: | ||||||||||||||||||||
(in millions) | YRC Freight | Regional Transportation | Truckload | Corporate/Eliminations | Consolidated | |||||||||||||||
2013 | ||||||||||||||||||||
External revenue | $ | 3,136.80 | $ | 1,728.60 | $ | — | $ | — | $ | 4,865.40 | ||||||||||
Intersegment revenue | — | — | — | — | — | |||||||||||||||
Operating income (loss) | (31.2 | ) | 79.9 | — | (20.3 | ) | 28.4 | |||||||||||||
Identifiable Assets | 1,513.40 | 698.4 | — | (146.9 | ) | 2,064.90 | ||||||||||||||
Acquisition of property and equipment | (43.4 | ) | (23.3 | ) | — | (0.2 | ) | (66.9 | ) | |||||||||||
Proceeds from disposal of property and equipment | 6.7 | 3 | — | 0.1 | 9.8 | |||||||||||||||
Depreciation and amortization | 109.1 | 63.1 | — | 0.1 | 172.3 | |||||||||||||||
Equity investment impairment | — | — | — | — | — | |||||||||||||||
2012 | ||||||||||||||||||||
External revenue | $ | 3,206.90 | $ | 1,640.40 | $ | — | $ | 3.2 | $ | 4,850.50 | ||||||||||
Intersegment revenue | — | 0.2 | — | (0.2 | ) | — | ||||||||||||||
Operating income (loss) | (37.3 | ) | 70 | — | (8.6 | ) | 24.1 | |||||||||||||
Identifiable Assets | 1,315.40 | 745.5 | — | 164.6 | 2,225.50 | |||||||||||||||
Acquisition of property and equipment | (47.2 | ) | (19.0 | ) | — | (0.2 | ) | (66.4 | ) | |||||||||||
Proceeds from disposal of property and equipment | 54.1 | (0.2 | ) | — | (3.5 | ) | 50.4 | |||||||||||||
Depreciation and amortization | 119.8 | 63.3 | — | 0.7 | 183.8 | |||||||||||||||
Equity investment impairment | — | — | — | 30.8 | 30.8 | |||||||||||||||
2011 | ||||||||||||||||||||
External revenue | $ | 3,203.00 | $ | 1,553.30 | $ | 86.9 | $ | 25.6 | $ | 4,868.80 | ||||||||||
Intersegment revenue | — | 1 | 12 | (13.0 | ) | — | ||||||||||||||
Operating income (loss) | (88.5 | ) | 32.9 | (18.9 | ) | (63.7 | ) | (138.2 | ) | |||||||||||
Identifiable Assets | 1,410.00 | 843.6 | 2.7 | 229.5 | 2,485.80 | |||||||||||||||
Acquisition of property and equipment | (29.4 | ) | (33.1 | ) | (0.6 | ) | (8.5 | ) | (71.6 | ) | ||||||||||
Proceeds from disposal of property and equipment | 48.5 | 0.7 | 18.2 | 0.1 | 67.5 | |||||||||||||||
Depreciation and amortization | 102.9 | 61.6 | 7.9 | 23.3 | 195.7 | |||||||||||||||
Shareholders_Deficit_Tables
Shareholders' Deficit (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Stockholders' Equity Note [Abstract] | ' | |||||||||||||
Schedule of Stockholders Equity [Table Text Block] | ' | |||||||||||||
The following reflects the activity in the shares of our preferred and common stock for the years ended December 31: | ||||||||||||||
Preferred Shares | Common Shares | |||||||||||||
(in thousands) | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||
Beginning balance | — | — | — | 7,976 | 6,847 | 159 | ||||||||
Issuance of Series B preferred stock in exchange for debt | — | — | 5,000 | — | — | — | ||||||||
Conversion of Series B preferred stock to common stock | — | — | (5,000 | ) | — | — | 6,210 | |||||||
Issuance of equity in exchange for debt | — | — | — | 1,929 | 1,112 | 478 | ||||||||
Issuance of equity awards, net | — | — | — | 268 | 17 | — | ||||||||
Ending balance | — | — | — | 10,173 | 7,976 | 6,847 | ||||||||
Recovered_Sheet1
Commitments, Contingencies, and Uncertainties (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||||||||||||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | ' | ||||||||||||||||||
At December 31, 2013, we were committed under noncancelable lease agreements requiring minimum annual rentals payable as follows: | |||||||||||||||||||
(in millions) | 2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | |||||||||||||
Minimum annual rentals | $ | 56.1 | $ | 41.4 | $ | 22.4 | $ | 16.6 | $ | 12 | $ | 18.1 | |||||||
Principles_Of_Consolidation_De
Principles Of Consolidation (Details) (USD $) | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||
In Millions, unless otherwise specified | Nov. 30, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Sep. 30, 2010 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Mar. 31, 2012 | Mar. 31, 2010 | Aug. 19, 2008 | Dec. 31, 2011 | Dec. 31, 2011 |
Labor Force Concentration Risk [Member] | February 17, 2010 Amendment [Member] | JHJ international Transportation Co. [Member] | JHJ international Transportation Co. [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Shanghai Jiayu [Member] | Shanghai Jiayu [Member] | Shanghai Jiayu [Member] | Property, Plant and Equipment [Member] | Intangible Assets [Member] | |||||
Workforce Subject to Collective Bargaining Arrangements [Member] | Jiau [Member] | Jiau [Member] | ||||||||||||||
Impaired Long-Lived Assets Held and Used [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reverse stock split, conversion ratio | 0.003333 | ' | ' | 0.003333 | ' | 0.04 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of labor force | ' | ' | ' | ' | 78.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Rerate reserve as a reduction to accounts receivable | ' | $9.60 | $11.90 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Allowance for doubtful accounts | ' | 9.3 | 9.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign currency transactions gains | ' | 3.7 | 2 | 5.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Risk-free rate for maturities of workers' compensation claims | ' | 0.50% | 0.40% | 0.80% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Risk-free rate for property damage and liability claims | ' | 0.30% | 0.30% | 0.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued claims and insurance | ' | 400.4 | 437.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ownership interest percentage | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | 65.00% | 65.00% | 65.00% | ' | ' |
Equity investment impairment | ' | 0 | 30.8 | 0 | ' | ' | 30.8 | ' | ' | ' | ' | ' | ' | ' | 1.3 | 2.7 |
Net book value of assets held for sale | ' | 17.2 | 7.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Assets held for sale impairment charge | ' | 3.9 | 13.2 | 17.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reclassification of net losses to net income | ' | ' | ' | ' | ' | ' | ' | ' | $9.60 | $9 | $9.60 | ' | ' | ' | ' | ' |
Principles_Of_Consolidation_Cl
Principles Of Consolidation (Claims and Insurance) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Workers' Compensation [Member] | ' | ' |
LIability For Unpaid Claims And Claim Adjustment Expense, Adjustment Of Opening Balance [Roll Forward] | ' | ' |
Undiscounted amount | $390.10 | $449.60 |
Estimated settlement cost | 89.2 | 100.4 |
Claim payments, net of recoveries | -115.6 | -140.9 |
Change in estimated settlement cost for older claim years | -16.7 | -19 |
Undiscounted amount | 347 | 390.1 |
Discounted settlement cost estimate | 316.6 | ' |
Property Damage and Liability Claims [Member] | ' | ' |
LIability For Unpaid Claims And Claim Adjustment Expense, Adjustment Of Opening Balance [Roll Forward] | ' | ' |
Undiscounted amount | 65.1 | 79.9 |
Estimated settlement cost | 36.7 | 27.4 |
Claim payments, net of recoveries | -24.3 | -43.7 |
Change in estimated settlement cost for older claim years | -8.7 | 1.5 |
Undiscounted amount | 68.8 | 65.1 |
Discounted settlement cost estimate | 68.2 | ' |
Total [Member] | ' | ' |
LIability For Unpaid Claims And Claim Adjustment Expense, Adjustment Of Opening Balance [Roll Forward] | ' | ' |
Undiscounted amount | 455.2 | 529.5 |
Estimated settlement cost | 125.9 | 127.8 |
Claim payments, net of recoveries | -139.9 | -184.6 |
Change in estimated settlement cost for older claim years | -25.4 | -17.5 |
Undiscounted amount | 415.8 | 455.2 |
Discounted settlement cost estimate | 384.8 | ' |
Cargo Claims And Other Insurance Related Amounts [Member] | ' | ' |
LIability For Unpaid Claims And Claim Adjustment Expense, Adjustment Of Opening Balance [Roll Forward] | ' | ' |
Undiscounted amount | $15.60 | $21 |
Principles_Of_Consolidation_Es
Principles Of Consolidation (Estimated Cash Payments) (Details) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Workers' Compensation [Member] | ' |
Liability for Unpaid Claims and Claims Adjustment Expense, Adjustment of Opening Balance [Line Items] | ' |
2014 | $84.30 |
2015 | 59 |
2016 | 41.5 |
2017 | 30.2 |
2018 | 22.8 |
Thereafter | 109.2 |
Total | 347 |
Property Damage and Liability Claims [Member] | ' |
Liability for Unpaid Claims and Claims Adjustment Expense, Adjustment of Opening Balance [Line Items] | ' |
2014 | 23.2 |
2015 | 18.6 |
2016 | 13.7 |
2017 | 6.9 |
2018 | 3.9 |
Thereafter | 2.5 |
Total | 68.8 |
Total [Member] | ' |
Liability for Unpaid Claims and Claims Adjustment Expense, Adjustment of Opening Balance [Line Items] | ' |
2014 | 107.5 |
2015 | 77.6 |
2016 | 55.2 |
2017 | 37.1 |
2018 | 26.7 |
Thereafter | 111.7 |
Total | $415.80 |
Principles_Of_Consolidation_Pr
Principles Of Consolidation (Property and Equipment) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Land | $267.80 | $269.60 | ' |
Structures | 810.4 | 825.8 | ' |
Revenue equipment | 1,438.30 | 1,442.80 | ' |
Technology equipment and software | 133.9 | 127 | ' |
Other | 193.8 | 203.8 | ' |
Total cost | 2,844.20 | 2,869 | ' |
Depreciation | $153.80 | $165.20 | $173.80 |
Structures [Member] | Minimum [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment, service life | '10 years | ' | ' |
Structures [Member] | Maximum [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment, service life | '30 years | ' | ' |
Revenue equipment [Member] | Minimum [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment, service life | '10 years | ' | ' |
Revenue equipment [Member] | Maximum [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment, service life | '20 years | ' | ' |
Technology equipment and software [Member] | Minimum [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment, service life | '3 years | ' | ' |
Technology equipment and software [Member] | Maximum [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment, service life | '7 years | ' | ' |
Other [Member] | Minimum [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment, service life | '3 years | ' | ' |
Other [Member] | Maximum [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment, service life | '10 years | ' | ' |
Principles_Of_Consolidation_Eq
Principles Of Consolidation (Equity Method Investments) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | ' | ' |
Our share of joint venture earnings | ($2.10) | ($1.90) | ($2.70) |
Equity investment impairment | 0 | 30.8 | 0 |
Net equity method (earnings) losses | ($2.10) | $28.90 | ($2.70) |
Principles_Of_Consolidation_Fa
Principles Of Consolidation (Fair Value Measurement) (Details) (Fair Value, Measurements, Recurring [Member], USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Restricted amounts held in escrow-current | $90.10 | $20 |
Restricted amounts held in escrow-long term | 0.6 | 102.5 |
Total assets at fair value | 90.7 | 122.5 |
Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Restricted amounts held in escrow-current | 0 | 0 |
Restricted amounts held in escrow-long term | 0 | 0 |
Total assets at fair value | 0 | 0 |
Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Restricted amounts held in escrow-current | 0 | 0 |
Restricted amounts held in escrow-long term | 0 | 0 |
Total assets at fair value | 0 | 0 |
Carrying (Reported) Amount, Fair Value Disclosure [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Restricted amounts held in escrow-current | 90.1 | 20 |
Restricted amounts held in escrow-long term | 0.6 | 102.5 |
Total assets at fair value | $90.70 | $122.50 |
Investment_Business_Combinatio
Investment (Business Combinations) (Details) (Shanghai Jiayu [Member], USD $) | 12 Months Ended | |||
Dec. 31, 2012 | Mar. 31, 2012 | Mar. 31, 2010 | Aug. 19, 2008 | |
Shanghai Jiayu [Member] | ' | ' | ' | ' |
Equity Method Investment, Financial Statement, Reported Amounts [Abstract] | ' | ' | ' | ' |
Ownership interest percentage | ' | 65.00% | 65.00% | 65.00% |
Purchase price | ' | ' | ' | $59,400,000 |
Equity method investment estimated fair value | ' | 0 | ' | ' |
Note receivable write down | 12,000,000 | ' | ' | ' |
Deconsolidation loss recognized | 4,200,000 | ' | ' | ' |
Deconsolidation gain allocated based on noncontrolling interest | $4,200,000 | ' | ' | ' |
Intangibles_Finite_Lived_by_Ma
Intangibles (Finite Lived by Major Class) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | $224.50 | $224.80 |
Accumulated Amortization | -174 | -155.7 |
Customer related [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Weighted Average Life (years) | '12 years | ' |
Gross Carrying Amount | 197.9 | 198.2 |
Accumulated Amortization | -147.4 | -129.1 |
Marketing related [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Weighted Average Life (years) | '0 years | ' |
Gross Carrying Amount | 2.4 | 2.4 |
Accumulated Amortization | -2.4 | -2.4 |
Technology based [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Weighted Average Life (years) | '0 years | ' |
Gross Carrying Amount | 24.2 | 24.2 |
Accumulated Amortization | ($24.20) | ($24.20) |
Intangibles_Amortization_Expen
Intangibles (Amortization Expense) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ' | ' |
Amortization expense for intangible assets | $18.50 | $18.60 | $21.90 |
Estimated amortization expense 2013 | 18.6 | ' | ' |
Estimated amortization expense 2014 | 18.3 | ' | ' |
Estimated amortization expense 2015 | 13.6 | ' | ' |
Estimated amortization expense 2016 | 0 | ' | ' |
Estimated amortization expense 2017 | $0 | ' | ' |
Intangibles_Indefinite_Lived_D
Intangibles (Indefinite Lived) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Indefinite-lived Intangible Assets [Roll Forward] | ' | ' | ' |
Balance | $30.10 | $29.90 | $30.10 |
Change in foreign currency exchange rates | -0.8 | 0.2 | -0.2 |
Balance | 29.3 | 30.1 | 29.9 |
YRC Freight [Member] | ' | ' | ' |
Indefinite-lived Intangible Assets [Roll Forward] | ' | ' | ' |
Balance | 11.4 | 11.2 | 11.4 |
Change in foreign currency exchange rates | -0.8 | 0.2 | -0.2 |
Balance | 10.6 | 11.4 | 11.2 |
Regional Transportation [Member] | ' | ' | ' |
Indefinite-lived Intangible Assets [Roll Forward] | ' | ' | ' |
Balance | 18.7 | 18.7 | 18.7 |
Change in foreign currency exchange rates | 0 | 0 | 0 |
Balance | $18.70 | $18.70 | $18.70 |
Network_Optimization_Details
Network Optimization (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring transaction costs | $0 | $0 | $17.80 |
Impairment charges | 1.5 | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' | ' |
Balance | 0.5 | 4.4 | 13.5 |
Network Optimization charges | 6.3 | ' | ' |
Payments | ' | ' | -9.1 |
Payments and other adjustments | -6 | -3.9 | ' |
Balance | 0.8 | 0.5 | 4.4 |
Employee Separation [Member] | ' | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' | ' |
Balance | 0 | 0 | 2.6 |
Network Optimization charges | 1.3 | ' | ' |
Payments | ' | ' | -2.6 |
Payments and other adjustments | -1.1 | 0 | ' |
Balance | 0.2 | 0 | 0 |
Contract Termination And Other Costs [Member] | ' | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' | ' |
Balance | 0.5 | 4.4 | 10.9 |
Network Optimization charges | 5 | ' | ' |
Payments | ' | ' | -6.5 |
Payments and other adjustments | -4.9 | -3.9 | ' |
Balance | 0.6 | 0.5 | 4.4 |
YRC Freight [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring transaction costs | $7.80 | ' | ' |
Other_Assets_Details
Other Assets (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Equity method investment for JHJ International Transportation Co., Ltd. | $23.40 | $22.30 | ' |
Deferred debt costs | 18.5 | 14.5 | ' |
Other | 36.6 | 21.5 | ' |
Other assets | 78.5 | 58.3 | ' |
Equity investment impairment | 0 | 30.8 | 0 |
JHJ international Transportation Co. [Member] | ' | ' | ' |
Dividends received | 1.8 | 2.4 | ' |
Ownership interest percentage | 50.00% | ' | ' |
Equity investment impairment | ' | 30.8 | ' |
Excess of investment over interest in equity | $4.80 | $4.60 | ' |
Employee_Benefits_Details
Employee Benefits (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
employee | |||
Compensation and Retirement Disclosure [Abstract] | ' | ' | ' |
Number of employees sponsored by defined benefit pension plans | 14,000 | ' | ' |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | ' | ' | ' |
Benefit obligation at beginning of year | $1,345.70 | $1,166.20 | ' |
Service cost | 4.3 | 3.9 | 3.6 |
Interest cost | 56.2 | 59.3 | 61.2 |
Benefits paid | -76.5 | -63.1 | ' |
Actuarial loss | -131.6 | 192.1 | ' |
Expenses paid from assets | -9.6 | -12.7 | ' |
Other | 0.3 | 0 | ' |
Benefit obligation at year end | 1,188.80 | 1,345.70 | 1,166.20 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' |
Fair value of plan assets at prior year end | 799.4 | 727.7 | ' |
Actual return on plan assets | 31.9 | 72.2 | ' |
Employer contributions | 62.9 | 75.3 | ' |
Benefits paid | -76.5 | -63.1 | ' |
Expenses paid from assets | -9.6 | -12.7 | ' |
Other | 0.3 | 0 | ' |
Fair value of plan assets at year end | 808.4 | 799.4 | 727.7 |
Funded status at year end | -380.4 | -546.3 | ' |
Noncurrent assets | 1.7 | 0 | ' |
Current liabilities | 0.6 | 0.6 | ' |
Noncurrent liabilities | 381.5 | 545.7 | ' |
Net actuarial loss | 389.2 | 511.8 | ' |
Unrecognized actuarial losses net of tax | 338.4 | ' | ' |
Actuarial loss included in accumulated other comprehensive income and expected to be recognized next year | $12.60 | ' | ' |
Employee_Benefits_Accumulated_
Employee Benefits (Accumulated Benefit Obligations) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Projected benefit obligation | $1,187.40 | ' |
Accumulated benefit obligation | 1,188.80 | 1,345.70 |
Fair value of plan assets | 808.4 | ' |
ABO Exceeds Assets [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Projected benefit obligation | 1,182.10 | ' |
Accumulated benefit obligation | 1,182.10 | ' |
Fair value of plan assets | 799.9 | ' |
Assets Exceed ABO [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Projected benefit obligation | 5.3 | ' |
Accumulated benefit obligation | 6.7 | ' |
Fair value of plan assets | $8.50 | ' |
Employee_Benefits_Assumptions_
Employee Benefits (Assumptions) (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Discount rate, benefit obligations | 5.23% | 4.28% | ' |
Discount rate, benefit cost | 4.28% | 5.23% | 5.79% |
Expected rate of return on assets, benefit cost | 7.00% | 7.00% | 7.00% |
Equities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Plan investments actual allocations | 35.00% | 27.00% | ' |
Plan investments target allocations | 33.00% | ' | ' |
Debt Securities [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Plan investments actual allocations | 34.00% | 50.00% | ' |
Plan investments target allocations | 35.00% | ' | ' |
Absolute Return [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Plan investments actual allocations | 31.00% | 23.00% | ' |
Plan investments target allocations | 32.00% | ' | ' |
Employee_Benefits_Future_Contr
Employee Benefits (Future Contributions) (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
Compensation and Retirement Disclosure [Abstract] | ' |
Expected employer contribution in 2013 | $79.90 |
Expected benefit payments | ' |
2014 | 70.5 |
2015 | 71.7 |
2016 | 71.7 |
2017 | 72 |
2018 | 74 |
2019-2023 | $384.60 |
Employee_Benefits_Net_Periodic
Employee Benefits (Net Periodic Cost) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Net periodic benefit cost: | ' | ' | ' |
Service cost | $4,300,000 | $3,900,000 | $3,600,000 |
Interest cost | 56,200,000 | 59,300,000 | 61,200,000 |
Expected return on plan assets | -55,600,000 | -51,100,000 | -43,000,000 |
Amortization of prior net loss | 14,800,000 | 9,000,000 | 9,600,000 |
Net periodic pension cost | 19,700,000 | 21,100,000 | 31,400,000 |
Other changes in plan assets and benefit obligations recognized in other comprehensive loss: | ' | ' | ' |
Net actuarial loss (gain) and other adjustments | -107,700,000 | 170,400,000 | 3,600,000 |
Less amortization of prior losses | -14,800,000 | -9,000,000 | -9,600,000 |
Total recognized in other comprehensive loss (income) | -122,500,000 | 161,400,000 | -6,000,000 |
Total recognized in net periodic benefit cost and other comprehensive (income) loss | -102,800,000 | 182,500,000 | 25,400,000 |
Income tax provision (benefit) related to amounts in other comprehensive income | $42,700,000 | ($1,300,000) | $0 |
Employee_Benefits_Fair_Value_D
Employee Benefits (Fair Value) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | ||||
In Millions, unless otherwise specified | Private equities [Member] | Private equities [Member] | Fixed Income Funds [Member] | Fixed Income Funds [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Minimum [Member] | Maximum [Member] | |||||||
fund | fund | fund | fund | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Fair Value [Member] | Fair Value [Member] | Equities [Member] | Equities [Member] | Equities [Member] | Equities [Member] | Equities [Member] | Equities [Member] | Equities [Member] | Equities [Member] | Private equities [Member] | Private equities [Member] | Private equities [Member] | Private equities [Member] | Private equities [Member] | Private equities [Member] | Private equities [Member] | Private equities [Member] | Corporate [Member] | Corporate [Member] | Corporate [Member] | Corporate [Member] | Corporate [Member] | Corporate [Member] | Corporate [Member] | Corporate [Member] | Government [Member] | Government [Member] | Government [Member] | Government [Member] | Government [Member] | Government [Member] | Government [Member] | Government [Member] | Other Fixed Income Investments [Domain] | Other Fixed Income Investments [Domain] | Other Fixed Income Investments [Domain] | Other Fixed Income Investments [Domain] | Absolute Return [Member] | Absolute Return [Member] | Absolute Return [Member] | Absolute Return [Member] | Absolute Return [Member] | Absolute Return [Member] | Absolute Return [Member] | Absolute Return [Member] | Interest bearing [Member] | Interest bearing [Member] | Interest bearing [Member] | Interest bearing [Member] | Interest bearing [Member] | Interest bearing [Member] | Interest bearing [Member] | Interest bearing [Member] | Total investments [Member] | Total investments [Member] | Total investments [Member] | Total investments [Member] | Total investments [Member] | Total investments [Member] | Total investments [Member] | Total investments [Member] | Other assets, net [Member] | Other assets, net [Member] | Fixed income [Member] | Fixed income [Member] | ||||||||||
Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Fair Value [Member] | Fair Value [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Fair Value [Member] | Fair Value [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Fair Value [Member] | Fair Value [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Fair Value [Member] | Fair Value [Member] | Level 1 [Member] | Level 2 [Member] | Level 3 [Member] | Fair Value [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Fair Value [Member] | Fair Value [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Fair Value [Member] | Fair Value [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Fair Value [Member] | Fair Value [Member] | Fair Value [Member] | Fair Value [Member] | Level 3 [Member] | Level 3 [Member] | ||||||||||||||||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Pension assets at fair value | $808.40 | $799.40 | $727.70 | ' | ' | ' | ' | $255.20 | $238.90 | $454.30 | $484.70 | $98.90 | $74.30 | $808.40 | $799.40 | $113.30 | $79.90 | $106.40 | $92.50 | $0 | $0 | $219.70 | $172.40 | $0 | $0 | $0 | $0 | $60.30 | [1] | $38.80 | [2] | $60.30 | $38.80 | $4.30 | $15.30 | $106.50 | $89.90 | $38.60 | $35.50 | $149.40 | $140.70 | $98 | $109.10 | $102.80 | $145.20 | $0 | $0 | $200.80 | $254.30 | $10.10 | $0 | $0 | $10.10 | $6.20 | $0.60 | $138.60 | $157.10 | $0 | $0 | $144.80 | $157.70 | $23.30 | $34 | $0 | $0 | $0 | $0 | $23.30 | $34 | $255.20 | $238.90 | $454.30 | $484.70 | $98.90 | $74.30 | $808.40 | $797.90 | $0 | $1.50 | $38.60 | [3] | $35.50 | [4] | ' | ' |
Unfunded Commitments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18 | [1] | 14.2 | [2] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16 | [3] | 3 | [4] | ' | ' |
Number of private equity funds investing in renewable solar energy | ' | ' | ' | 5 | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Number of fixed income funds investing in debt securities secured by royalty payments | ' | ' | ' | ' | ' | 3 | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Number of funds | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Number of funds investing in Indian mezzanine debt | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Number of funds for which redemptions are not permitted | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Redemption notice period for assets with fair value estimated using NAV per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 day | '90 days | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Fair value of plan assets at prior year end | 808.4 | 799.4 | 727.7 | ' | ' | ' | ' | 255.2 | 238.9 | 454.3 | 484.7 | 74.3 | 43.6 | 808.4 | 799.4 | 113.3 | 79.9 | 106.4 | 92.5 | 0 | 0 | 219.7 | 172.4 | 0 | 0 | 0 | 0 | 38.8 | [2] | 29 | 60.3 | 38.8 | 4.3 | 15.3 | 106.5 | 89.9 | 38.6 | 35.5 | 149.4 | 140.7 | 98 | 109.1 | 102.8 | 145.2 | 0 | 0 | 200.8 | 254.3 | 10.1 | 0 | 0 | 10.1 | 6.2 | 0.6 | 138.6 | 157.1 | 0 | 0 | 144.8 | 157.7 | 23.3 | 34 | 0 | 0 | 0 | 0 | 23.3 | 34 | 255.2 | 238.9 | 454.3 | 484.7 | 98.9 | 74.3 | 808.4 | 797.9 | 0 | 1.5 | 35.5 | [4] | 14.6 | ' | ' | ||
Purchases | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16 | 34 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.4 | 8.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.6 | 25.6 | ' | ' | ||||
Sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -11.7 | -7.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -6.4 | -2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -5.3 | -5.2 | ' | ' | ||||
Unrealized gain (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.3 | 3.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21.5 | 3.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1.2 | 0.5 | ' | ' | ||||
Fair value of plan assets at year end | $808.40 | $799.40 | $727.70 | ' | ' | ' | ' | $255.20 | $238.90 | $454.30 | $484.70 | $98.90 | $74.30 | $808.40 | $799.40 | $113.30 | $79.90 | $106.40 | $92.50 | $0 | $0 | $219.70 | $172.40 | $0 | $0 | $0 | $0 | $60.30 | [1] | $38.80 | [2] | $60.30 | $38.80 | $4.30 | $15.30 | $106.50 | $89.90 | $38.60 | $35.50 | $149.40 | $140.70 | $98 | $109.10 | $102.80 | $145.20 | $0 | $0 | $200.80 | $254.30 | $10.10 | $0 | $0 | $10.10 | $6.20 | $0.60 | $138.60 | $157.10 | $0 | $0 | $144.80 | $157.70 | $23.30 | $34 | $0 | $0 | $0 | $0 | $23.30 | $34 | $255.20 | $238.90 | $454.30 | $484.70 | $98.90 | $74.30 | $808.40 | $797.90 | $0 | $1.50 | $38.60 | [3] | $35.50 | [4] | ' | ' |
[1] | onsists of five private equity funds investing in renewable solar energy, acquisition of pharmaceutical company interests, Chinese technology and healthcare companies. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | Consists of four private equity funds investing in renewable solar energy, acquisition of pharmaceutical company interests and Chinese technology and healthcare companies. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[3] | Consists of three fixed income funds which invest in debt securities secured by royalty payments from marketers of pharmaceutical products. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[4] | Consists of three fixed income funds, two of which invest in debt securities secured by royalty payments from top-tier marketers of pharmaceutical products, and one which invests in Indian mezzanine debt. |
Employee_Benefits_MultiEmploye
Employee Benefits (Multi-Employer Pension Plans) (Details) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jun. 01, 2011 |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ' |
Expense related to multi-employer plans | $488.60 | $473.10 | $426.90 | ' |
Employer pension contribution percentage | ' | ' | ' | 25.00% |
Health and welfare [Member] | ' | ' | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ' |
Expense related to multi-employer plans | 399.5 | 387.5 | 378.2 | ' |
Pension [Member] | ' | ' | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ' |
Expense related to multi-employer plans | 89.1 | 85.6 | 48.7 | ' |
Contribution to the multi-employer plan | 88.7 | 84.9 | 45.6 | ' |
Central States, Southeast and Southwest Areas Pension Plan [Member] | Pension [Member] | ' | ' | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ' |
Contribution to the multi-employer plan | 52.1 | 51.9 | 27.6 | ' |
Teamster National 401K Savings Plan [Member] | Pension [Member] | ' | ' | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ' |
Contribution to the multi-employer plan | 11.2 | 11 | 5.8 | ' |
I.B. of T. Union Local No 710 Pension Fund [Member] | Pension [Member] | ' | ' | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ' |
Contribution to the multi-employer plan | 4.4 | 4.1 | 2.2 | ' |
Central Pennsylvania Teamsters Defined Benefit Plan [Member] | Pension [Member] | ' | ' | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ' |
Contribution to the multi-employer plan | 4.5 | 4.5 | 2.3 | ' |
Road Carriers Local 707 Pension Fund [Member] | Pension [Member] | ' | ' | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ' |
Contribution to the multi-employer plan | 2.3 | 2.5 | 1.2 | ' |
Teamsters Local 641 Pension Fund [Domain] | Pension [Member] | ' | ' | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ' |
Contribution to the multi-employer plan | $1.60 | $1.60 | $0.80 | ' |
Workforce Subject to Collective Bargaining Arrangements [Member] | Labor Force Concentration Risk [Member] | ' | ' | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ' |
Percentage of labor force | 78.00% | ' | ' | ' |
Employee_Benefits_Other_Plans_
Employee Benefits (Other Plans) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' |
Discount rate, benefit obligations | 5.23% | 4.28% | ' |
Equity based compensation expense | $5.80 | $3.80 | $15.50 |
Management [Member] | ' | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' |
Equity based compensation expense | 5.8 | 3.8 | 0.6 |
Performance Incentive Awards [Member] | ' | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' |
Performance and sales incentive expense | $14.50 | $12.30 | $13.90 |
2014_Financing_Transactions_De
2014 Financing Transactions (Details) (USD $) | 0 Months Ended | 12 Months Ended | 0 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 0 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nov. 30, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 16, 2011 | Sep. 16, 2011 | Jul. 22, 2011 | Jul. 22, 2011 | Jul. 22, 2010 | Jul. 22, 2011 | Jul. 22, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Feb. 11, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Jul. 22, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Jul. 22, 2011 | Jul. 22, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Jul. 22, 2011 | Dec. 31, 2013 | Jul. 22, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jul. 22, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jul. 22, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jul. 22, 2011 | Jul. 22, 2011 | Sep. 16, 2011 | Jul. 22, 2011 | Sep. 16, 2011 | Jul. 22, 2011 | Sep. 16, 2011 | Jul. 22, 2011 | Jul. 22, 2011 | Jul. 22, 2011 | Jul. 22, 2011 | Jul. 22, 2011 | Aug. 05, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Feb. 13, 2014 | Jan. 31, 2014 | Feb. 13, 2014 | Dec. 31, 2013 | Feb. 13, 2014 | Feb. 13, 2014 | Feb. 13, 2014 | Feb. 13, 2014 | Jan. 31, 2014 | Feb. 13, 2014 | Dec. 31, 2013 | Feb. 13, 2014 | Dec. 31, 2013 | Feb. 13, 2014 | Jan. 31, 2014 | Jan. 31, 2014 | Feb. 13, 2014 | Aug. 05, 2014 | Jan. 31, 2014 | Feb. 13, 2014 | Feb. 13, 2014 | Feb. 13, 2014 | Feb. 13, 2014 | Feb. 13, 2014 | Feb. 13, 2014 | Feb. 13, 2014 | Feb. 13, 2014 | Feb. 13, 2014 | Feb. 13, 2014 | |
A&R CDA [Member] | A&R CDA [Member] | Senior A Notes [Member] | Senior B Notes [Domain] | Senior B Notes [Domain] | ABS Facility [Member] | ABS Facility [Member] | Restructured Contribution Deferral Agreement [Member] | Restructured Contribution Deferral Agreement [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Restructured Credit Agreement [Member] | Restructured Term Loan [Member] | Restructured Term Loan [Member] | Restructured Term Loan [Member] | Restructured Term Loan [Member] | Letter of Credit [Member] | Letter of Credit [Member] | Preferred Stock [Member] | Preferred Stock [Member] | Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Series A Preferred Stock [Member] | Teamster National 401K Savings Plan [Member] | Teamster National 401K Savings Plan [Member] | Teamster National 401K Savings Plan [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Restructured Credit Agreement [Member] | Senior B Notes [Domain] | Senior A Notes [Member] | Contribution Deferral Agreement [Member] | 2014 Financing [Member] | Alternate Base Rate [Member] | LIBOR Rate [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | |||||
Central States Pension Plan [Member] | 6% convertible senior notes [Domain] | 6% convertible senior notes [Domain] | 6% convertible senior notes [Domain] | Senior A Notes [Member] | Senior A Notes [Member] | Senior A Notes [Member] | Senior B Notes [Domain] | Senior B Notes [Domain] | Senior B Notes [Domain] | Amended And Restated Credit Agreement [Member] | Amended And Restated Credit Agreement [Member] | Series B Preferred Stock [Member] | Common Stock [Member] | Common Stock [Member] | Senior A Notes [Member] | Senior A Notes [Member] | Senior B Notes [Domain] | Senior B Notes [Domain] | Series A Note [Member] | Restructured Term Loan [Member] | Restructured Term Loan [Member] | Secured CDA [Domain] | A&R CDA [Member] | 2014 ABL Facility Credit Agreement [Member] [Member] | Senior B Notes [Domain] | Line of Credit [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | 2014 ABL Facility Credit Agreement [Member] [Member] | 2014 ABL Facility Credit Agreement [Member] [Member] | Letter of Credit [Member] | Senior B Notes [Domain] | Preferred Stock [Member] | Common Stock [Member] | 2014 Financing [Member] | 2014 Financing [Member] | 2014 Financing [Member] | Alternate Base Rate [Member] | LIBOR Rate [Member] | Higher of London Interbank Offer Rate or 1.00% [Member] | Prime Rate [Member] | One Month LIBOR [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Minimum [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||||||||
Amended And Restated Credit Agreement [Member] | Amended And Restated Credit Agreement [Member] | 2014 ABL Facility Credit Agreement [Member] [Member] | Senior B Notes [Domain] | Senior B Notes [Domain] | Unsecured CDA [Domain] | 2014 Financing [Member] | Amended And Restated Credit Agreement [Member] | 2014 Financing [Member] | Series A Note [Member] | Series A Note [Member] | Senior B Notes [Domain] | Senior B Notes [Domain] | Senior B Notes [Domain] | Senior B Notes [Domain] | Senior B Notes [Domain] | 2014 ABL Facility Credit Agreement [Member] [Member] | Senior B Notes [Domain] | 2014 ABL Facility Credit Agreement [Member] [Member] | Senior B Notes [Domain] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 Financing [Member] | 2014 Financing [Member] | 2014 Financing [Member] | 2014 Financing [Member] | 2014 Financing [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gains (Losses) on Extinguishment of Debt, Expected | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $15,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments of Financing Costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capitalized Financing Costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments of Stock Issuance Costs | ' | 0 | 0 | 1,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt | ' | 1,363,400,000 | 1,375,400,000 | ' | 124,000,000 | 125,400,000 | ' | ' | ' | ' | ' | ' | ' | 68,300,000 | 63,100,000 | ' | 160,000,000 | 133,400,000 | ' | 58,700,000 | 66,100,000 | ' | ' | 335,800,000 | 366,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 51,000,000 | 124,000,000 | ' | ' | ' | ' | ' | 73,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basis spread on variable rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.50% | ' | ' | ' | ' | ' | ' | ' | ' | 6.00% | ' | 7.00% | 0.50% | 1.00% | ' | ' | ' | ' | ' |
Prepayment percent of excess cash flow | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Covenant, Mandatory Prepayment Terms, Percentage of Excess Cash Flow, Ratio Range Between 3.00 and 3.50 to 1.00 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Total Leverage Ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | 3.5 |
Debt Instrument, Covenant, Mandatory Prepayment Terms, Percentage of Excess Cash Flow When Ratio is Less or Equal 3.00 to 1.00 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Covenant, Mandatory Prepayment Terms, Percentage of Net Cash Proceeds from All Sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Prepayment percent of cash proceeds from debt issuance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Covenant, Events of Default, Final Unpaid Judgment Against Term Guarantors | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30,000,000 | 30,000,000 | ' | ' |
Debt Instrument, Covenant, Events of Default, Cross Default | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30,000,000 | 30,000,000 |
Aggregate principal converted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 29,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,600,000 | ' | 50,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | 3,700,000 | 0 | 0 | 5,000,000 | ' | 1,929,000 | 1,112,000 | 478,000 | 1 | 1,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 583,334 | 14,333,334 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock shares converted from preferred | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 5,000,000 | 4,600,000 | 0 | 0 | 6,210,000 | ' | ' | 1,600,000 | 1,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal amount issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 70,000,000 | ' | ' | 140,000,000 | ' | ' | 100,000,000 | ' | ' | ' | 307,400,000 | 307,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 450,000,000 | ' | 700,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Right to increase New Term Loan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 250,000,000 | ' | ' | ' | ' |
Maximum Total Leverage Ratio, June 30, 2014 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Variable rate basis, option two, minimum variable rate basis | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock estimated fair value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 43,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 437,000,000 | 437,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate principal amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 305,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reverse stock split, conversion ratio | 0.003333 | ' | ' | 0.003333 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion feature embedded in notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 26,500,000 | 12,400,000 | 106,800,000 | 41,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value adjustment of derivative liabilities | ' | 0 | 0 | 79,200,000 | ' | ' | 14,100,000 | 65,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Professional fees | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,600,000 | 14,000,000 | 3,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued interest forgiven by the lenders | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred commitment fees | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Write-off of unamortized deferred debt costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain on extinguishment of debt | ' | 0 | 0 | -25,800,000 | ' | ' | ' | ' | ' | ' | -25,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unamortized debt issuance expense | ' | ' | ' | ' | ' | ' | ' | ' | 2,100,000 | 5,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued interest converted to principal | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal amount outstanding percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 64.30% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.50% | 6.00% | 6.00% | ' | 10.00% | 10.00% | ' | 10.00% | 10.00% | ' | ' | 10.00% | 10.00% | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Issuance or Sale of Equity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 250,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sources of Funds | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 174,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non Cash Uses of Funds | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 174,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Borrowing base percent of net eligible receivables | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 85.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Borrowing Base, Percent Of Borrowing Base Cash | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Borrowing Base, Percent Of Deferred Revenue Liability | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 85.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Uncommitted Accordion | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repayment of long-term debt | ' | 9,200,000 | 25,600,000 | 46,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 89,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 90,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Future Repayments of Series A Notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 89,600,000 | 89,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion price, future period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $34.01 | ' | ' | $18.53 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Covenant, liquidity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000,000 | ' |
Debt Instrument, Covenant, availability | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 67,500,000 | ' |
Debt Instrument, Consolidated Fixed Coverage Ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.1 | ' |
Debt Instrument, Covenant, Percent Of Collateral Line Cap | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Letters of Credit Outstanding, Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $364,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Consecutive Calendar Days 10 Percent of Collateral Cap is Maintained Available | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '30 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2014_Financing_Transactions_Ca
2014 Financing Transactions (Cash Flow Activity) (Details) (USD $) | 12 Months Ended | 0 Months Ended | |||||||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Aug. 05, 2014 | Jul. 22, 2011 | Jul. 22, 2011 | Jul. 22, 2011 | Jul. 22, 2011 | Jul. 22, 2011 | Jul. 22, 2011 | Jul. 22, 2011 | Feb. 13, 2014 | Feb. 13, 2014 | Feb. 13, 2014 | Feb. 13, 2014 | Feb. 13, 2014 | Aug. 05, 2014 | Feb. 13, 2014 | Jan. 31, 2014 | Feb. 13, 2014 | |
2014 Financing [Member] | Financial Restructuring [Member] | Financial Restructuring [Member] | Financial Restructuring [Member] | Financial Restructuring [Member] | Financial Restructuring [Member] | Financial Restructuring [Member] | Financial Restructuring [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | |||||
Series A Note [Member] | ABS Facility [Member] | ABL Facility [Member] | Senior Notes [Member] | Line of Credit [Member] | Financial Standby Letter of Credit [Member] | Revolving Credit Facility [Member] | 2014 Financing [Member] | 2014 Financing [Member] | 2014 Financing [Member] | 2014 Financing [Member] | 2014 Financing [Member] | 2014 Financing [Member] | 2014 Financing [Member] | 2014 Financing [Member] | 2014 Financing [Member] | ||||||
Senior B Notes [Domain] | ABL facility - Term B [Member] | Senior B Notes [Domain] | ABL Facility [Member] | Restructured Term Loan [Member] | 6% Notes [Member] | Series A Note [Member] | Series A Note [Member] | Series A Note [Member] | 2014 ABL Facility Credit Agreement [Member] [Member] | ||||||||||||
Sources of Funds [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Issuance of long-term debt | $0.30 | $45 | $441.60 | ' | ' | ' | ' | $100 | $255 | ' | $18.50 | ' | $700 | ' | ' | ' | ' | ' | ' | $0 | |
Future Repayments of Series A Notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 89.6 | ' | 89.6 | ' | |
Net cash provided (used in) investing activities, continuing operations | ' | ' | ' | ' | 2.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Cash, Period Increase (Decrease) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.3 | |
Total sources of funds | ' | ' | ' | ' | 375.9 | ' | ' | ' | ' | ' | ' | 1,040 | ' | ' | ' | ' | ' | ' | ' | ' | |
Uses of Funds [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Repayment of long-term debt | 9.2 | 25.6 | 46.7 | 89.6 | ' | 164.2 | ' | ' | ' | ' | ' | ' | ' | 326 | 299.7 | 71.5 | ' | ' | 90.9 | ' | |
Stock issued in connection with the 6% Notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 215 | ' | ' | ' | ' | ' | ' | ' | ' | |
Increase (decrease) in restricted cash | ' | ' | ' | ' | ' | ' | 90 | ' | ' | 64.7 | ' | 90 | [1] | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Issuance of Preferred Stock and Preference Stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35 | ' | ' | ' | ' | ' | ' | ' | ' | |
Fees, expenses and original issue discount | ' | ' | ' | ' | 57 | ' | ' | ' | ' | ' | ' | 49 | ' | ' | ' | ' | ' | ' | ' | ' | |
Total uses of funds | ' | ' | ' | ' | 375.9 | ' | ' | ' | ' | ' | ' | 1,040 | ' | ' | ' | ' | ' | ' | ' | ' | |
Repayments of debt, including accrued interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $93.90 | ' | ' | |
[1] | Under the terms of the New ABL facility, a portion of the Cash to Balance sheet will be classified as "restricted cash" in the consolidated balance sheet. |
2014_Financing_Transactions_No
2014 Financing Transactions (Non-cash Activity) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Feb. 13, 2014 | Dec. 31, 2013 | Feb. 13, 2014 | Feb. 13, 2014 | Feb. 13, 2014 |
In Millions, unless otherwise specified | A&R CDA [Member] | A&R CDA [Member] | Senior Notes [Member] | Senior Notes [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | ||
Senior B Notes [Domain] | Senior B Notes [Domain] | Secured CDA [Domain] | A&R CDA [Member] | Senior Notes [Member] | Senior Notes [Member] | 2014 Financing [Member] | |||||
Unsecured CDA [Domain] | Senior B Notes [Domain] | ||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt | $1,363.40 | $1,375.40 | $124 | $125.40 | $58.70 | $66.10 | $51 | $124 | $73 | ' | ' |
Aggregate principal converted | ' | ' | ' | ' | 29.1 | ' | ' | ' | 50.6 | 50.6 | ' |
Sources of Funds | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 174.6 |
Non Cash Uses of Funds | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $174.60 |
2014_Financing_Transactions_20
2014 Financing Transactions 2014 Financing Transactions (Price Grid Range) (Details) (2014 ABL Facility Credit Agreement [Member] [Member], USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Average Quarterly Excess Capacity, Level I [Member] | ' |
Debt Instrument [Line Items] | ' |
Revolving Credit Facility Average Quarterly Excess Capacity | 140,000,000,000,000 |
Average Quarterly Excess Capacity, Level II [Member] | Minimum [Member] | ' |
Debt Instrument [Line Items] | ' |
Revolving Credit Facility Average Quarterly Excess Capacity | 70,000,000,000,000 |
Average Quarterly Excess Capacity, Level II [Member] | Maximum [Member] | ' |
Debt Instrument [Line Items] | ' |
Revolving Credit Facility Average Quarterly Excess Capacity | 140,000,000,000,000 |
Average Quarterly Excess Capacity, Level III [Member] | ' |
Debt Instrument [Line Items] | ' |
Revolving Credit Facility Average Quarterly Excess Capacity | 70,000,000,000,000 |
Subsequent Event [Member] | ' |
Debt Instrument [Line Items] | ' |
Basis spread on variable rate | 2.50% |
Average Revolver Usage | 50.00% |
Letter of Credit, Fees as Percentage of Stated Amount | 0.13% |
Subsequent Event [Member] | Base Rate [Member] | ' |
Debt Instrument [Line Items] | ' |
Basis spread on variable rate | 1.50% |
Subsequent Event [Member] | London Interbank Offered Rate (LIBOR) [Member] | ' |
Debt Instrument [Line Items] | ' |
Debt Instrument, Basis Spread on Variable Rate, Reduction When Total Leverage Ratio is Less Than 2.50 to 1.00 | 0.25% |
Debt Instrument, Total Leverage Ratio | 2.5 |
Subsequent Event [Member] | Federal Funds Rate [Member] | ' |
Debt Instrument [Line Items] | ' |
Basis spread on variable rate | 0.50% |
Subsequent Event [Member] | One Month LIBOR [Member] | ' |
Debt Instrument [Line Items] | ' |
Basis spread on variable rate | 1.00% |
Subsequent Event [Member] | Period Through March 31, 2014 [Member] | ' |
Debt Instrument [Line Items] | ' |
Commitment fee percentage | 0.25% |
Subsequent Event [Member] | Period After March 31. 2014 [Member] | ' |
Debt Instrument [Line Items] | ' |
Commitment fee percentage | 0.38% |
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage, If Average Revolver Usage Greater Than 50 Percent | 0.25% |
Subsequent Event [Member] | Average Quarterly Excess Capacity, Level I [Member] | Base Rate [Member] | ' |
Debt Instrument [Line Items] | ' |
Basis spread on variable rate | 1.00% |
Subsequent Event [Member] | Average Quarterly Excess Capacity, Level I [Member] | London Interbank Offered Rate (LIBOR) [Member] | ' |
Debt Instrument [Line Items] | ' |
Basis spread on variable rate | 2.00% |
Subsequent Event [Member] | Average Quarterly Excess Capacity, Level II [Member] | Base Rate [Member] | ' |
Debt Instrument [Line Items] | ' |
Basis spread on variable rate | 1.25% |
Subsequent Event [Member] | Average Quarterly Excess Capacity, Level II [Member] | London Interbank Offered Rate (LIBOR) [Member] | ' |
Debt Instrument [Line Items] | ' |
Basis spread on variable rate | 2.25% |
Subsequent Event [Member] | Average Quarterly Excess Capacity, Level III [Member] | Base Rate [Member] | ' |
Debt Instrument [Line Items] | ' |
Basis spread on variable rate | 1.50% |
Subsequent Event [Member] | Average Quarterly Excess Capacity, Level III [Member] | London Interbank Offered Rate (LIBOR) [Member] | ' |
Debt Instrument [Line Items] | ' |
Basis spread on variable rate | 2.50% |
Debt_And_Financing_Details
Debt And Financing (Details) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 0 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Jul. 22, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Jul. 22, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Jul. 22, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Feb. 11, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Jul. 22, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Aug. 05, 2014 | Nov. 12, 2013 | Dec. 31, 2013 | Nov. 12, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Feb. 13, 2014 | Jan. 31, 2014 | Feb. 13, 2014 | Jan. 31, 2014 | |||
Carrying Amount [Member] | Carrying Amount [Member] | Fair Value [Member] | Fair Value [Member] | Amended And Restated Credit Agreement [Member] | Amended And Restated Credit Agreement [Member] | ABL facility - Term B [Member] | ABL Facility [Member] | A&R CDA [Member] | A&R CDA [Member] | Restructured Term Loan [Member] | Restructured Term Loan [Member] | Restructured Term Loan [Member] | Restructured Term Loan [Member] | Restructured Term Loan [Member] | Restructured Term Loan [Member] | Restructured Term Loan [Member] | Restructured Term Loan [Member] | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Letter of Credit [Member] | Letter of Credit [Member] | Pension Contribution Deferral Obligation [Member] | Pension Contribution Deferral Obligation [Member] | Lease Financing Obligations [Member] | Lease Financing Obligations [Member] | Lease Financing Obligations [Member] | Lease Financing Obligations [Member] | Lease Financing Obligations [Member] | Lease Financing Obligations [Member] | Other Debt Obligations [Member] | Other Debt Obligations [Member] | Other Debt Obligations [Member] | Other Debt Obligations [Member] | Other Debt Obligations [Member] | Other Debt Obligations [Member] | Alternate Base Rate [Member] | Alternate Base Rate [Member] | Alternate Base Rate [Member] | Higher of London Interbank Offer Rate or 3.50% [Member] | LIBOR Rate [Member] | LIBOR Rate [Member] | ABR Rate [Member] | Prime Rate [Member] | Federal Funds Rate [Member] | Reserve Adjusted LIBOR [Member] | LIBOR Rate Advances [Member] | LIBOR Rate Advances [Member] | ABR Rate Advances [Member] | ABR Rate Advances [Member] | 2014 Financing [Member] | Credit Agreement Amendment [Member] | Credit Agreement Amendment [Member] | ABL Facility Credit Agreement [Member] | ABL Facility Credit Agreement [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | ||||||
Carrying Amount [Member] | Carrying Amount [Member] | Fair Value [Member] | Fair Value [Member] | Amended And Restated Credit Agreement [Member] | Carrying Amount [Member] | Carrying Amount [Member] | Fair Value [Member] | Fair Value [Member] | ABL facility - Term A [Member] | ABL facility - Term A [Member] | ABL facility - Term B [Member] | ABL facility - Term B [Member] | Carrying Amount [Member] | Carrying Amount [Member] | Fair Value [Member] | Fair Value [Member] | Senior A Notes [Member] | Senior A Notes [Member] | Senior A Notes [Member] | Senior A Notes [Member] | Senior B Notes | Senior B Notes | Senior B Notes | Senior B Notes | Senior B Notes [Domain] | Senior B Notes [Domain] | Senior B Notes [Domain] | 5.0% Contingent Convertible Senior Notes [Member] | 5.0% and 3.375% Contingent Convertible Senior Notes [Member] | 5.0% and 3.375% Contingent Convertible Senior Notes [Member] | Amended And Restated Credit Agreement [Member] | Carrying Amount [Member] | Carrying Amount [Member] | Fair Value [Member] | Fair Value [Member] | Carrying Amount [Member] | Carrying Amount [Member] | Fair Value [Member] | Fair Value [Member] | Amended And Restated Credit Agreement [Member] | Restructured Term Loan [Member] | Restructured Term Loan [Member] | Restructured Term Loan [Member] | Restructured Term Loan [Member] | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | LIBOR Rate [Member] | LIBOR Rate [Member] | LIBOR Rate [Member] | ABR Rate [Member] | ABR Rate [Member] | Series A Note [Member] | A&R CDA [Member] | Senior Notes [Member] | Senior Notes [Member] | 2014 Financing [Member] | 2014 Financing [Member] | ||||||||||||||||||||||||||||||
Amended And Restated Credit Agreement [Member] | Amended And Restated Credit Agreement [Member] | Amended And Restated Credit Agreement [Member] | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | Line of Credit [Member] | Senior B Notes | Senior B Notes | ABL Facility [Member] | Series A Note [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ABL facility - Term A [Member] | ABL facility - Term B [Member] | ABL facility - Term A [Member] | ABL facility - Term B [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Principal amount issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $307,400,000 | ' | ' | ' | ' | $307,400,000 | ' | ' | ' | ' | $175,000,000 | ' | $225,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | $140,000,000 | ' | ' | ' | $100,000,000 | ' | ' | $70,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 175,000,000 | 175,000,000 | 219,900,000 | 222,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 437,000,000 | 437,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000,000 | ' | ' | ' | ' | ' | ||
Basis spread on variable rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.00% | 7.00% | ' | ' | ' | ' | ' | ' | 7.50% | 10.25% | 6.50% | 9.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Description of variable rate basis | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'alternate base rate | ' | ' | ' | ' | ' | 'ABR Rate | 'prime rate | 'federal funds rate | 'LIBOR | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Variable rate basis, option two, minimum variable rate basis | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.50% | ' | ' | ' | ' | 1.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Variable rate basis, option one, minimum variable rate basis, spread over LIBOR | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | ' | ' | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Stated interest rate, minimum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | 5.00% | ' | ' | 3.25% | 3.00% | 10.00% | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Stated interest rate, floor | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.38% | 3.38% | ' | ' | 18.25% | 18.00% | 18.20% | 18.20% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Stated interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | 10.00% | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | 8.50% | [1] | 8.50% | [1] | 11.25% | 11.25% | ' | ' | ' | ' | 10.00% | 10.00% | 10.00% | ' | 10.00% | 10.00% | 10.00% | ' | 6.00% | 6.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Commitment fee percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Commitment fee percentage of average daily unused capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Fronting fee percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Restricted amounts held in escrow-long term | ' | ' | ' | ' | ' | ' | ' | 600,000 | 12,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Credit Facility, Number of Days Restructuring Transactions to be Realizable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '90 days | ' | ' | ' | ' | ' | ' | ' | ' | ||
Net Cash Proceeds Received from Asset Sales Threshold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ||
Borrowing Base | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 156,500,000 | 147,600,000 | 219,900,000 | 222,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 376,400,000 | ' | ' | ' | ' | ' | ||
Availability | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 51,500,000 | 42,600,000 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Borrowing base percent of net eligible receivables | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 85.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Borrowing base percent of credit facility cash collaterized | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Escrow deposit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 90,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Credit Facility, Interest Rate Payable, Basis Points Increase | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5000.00% | ' | ' | 5000.00% | ' | ' | ' | ' | ' | ||
Amendment Fee Payment to Each Consenting Lender as Percent of Outstanding Exposure | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | 1.00% | ' | ' | ' | ' | ' | ' | ||
Repayments of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Aggregate principal amount | 1,361,300,000 | 1,381,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 124,200,000 | 125,800,000 | 298,100,000 | 298,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 105,000,000 | [1] | 105,000,000 | [1] | 219,900,000 | 222,200,000 | ' | ' | ' | ' | 177,800,000 | 177,800,000 | 161,200,000 | ' | 69,200,000 | 69,200,000 | 91,500,000 | ' | 69,400,000 | 69,400,000 | ' | 200,000 | ' | ' | ' | ' | ' | ' | 297,500,000 | 306,900,000 | ' | ' | ' | ' | 200,000 | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Convertible, Number of Equity Instruments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,600,000 | 5,600,000 | ' | ' | 4,200,000 | 4,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Aggregate principal amount of Series B Notes surrendered for conversion | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Aggregate principal amount, subsequent month | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,200,000 | 1,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Number of shares notes are convertible into, subsequent month | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75,900 | 75,900 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Aggregate principal converted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 29,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,600,000 | ' | ' | ' | ||
Conversion price, future period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $34.01 | $34.01 | ' | ' | $18.53 | $18.53 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $15 | ' | ' | ||
Conversion rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.0294067 | 29.4067 | ' | ' | 0.0539567 | 53.9567 | ' | ' | 0.0003101 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Number of votes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.1089 | 0.1089 | ' | ' | 0.0594 | 0.0594 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Debt redemption percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Repayment of long-term debt | 9,200,000 | 25,600,000 | 46,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 89,600,000 | ' | ' | ' | ' | ' | ' | ' | 326,000,000 | 90,900,000 | ||
Conversion price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $16.01 | $16.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Conversion ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.0624781 | 0.0624781 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Number of shares converted per thousand | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 62.4781 | 62.4781 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Issuance of equity upon conversion of 6% convertible senior notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,929,000 | 1,929,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Common stock available for future issuances | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17,600 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Common shares available for future issuance, as of February 15, 2013 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17,616 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Alternative base rate spread over federal funds effective rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.50% | ' | ' | ' | ' | ' | ' | 0.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Contribution rate of subsidiaries to funds | 25.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Proceeds from lease financing activities | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Premium/(Discount), Debt | 2,100,000 | -5,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -200,000 | -400,000 | 37,700,000 | 67,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2,100,000 | [1] | -4,800,000 | [1] | -3,900,000 | -8,500,000 | ' | ' | ' | ' | -17,800,000 | -17,800,000 | -27,800,000 | ' | -10,500,000 | -10,500,000 | -25,400,000 | ' | -1,100,000 | -6,300,000 | ' | 0 | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt | 1,363,400,000 | 1,375,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 124,000,000 | 125,400,000 | 335,800,000 | 366,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 102,900,000 | [1] | 100,200,000 | [1] | 216,000,000 | 213,700,000 | ' | ' | ' | ' | 160,000,000 | 160,000,000 | 133,400,000 | ' | 58,700,000 | 58,700,000 | 66,100,000 | ' | 68,300,000 | 63,100,000 | ' | 200,000 | ' | ' | ' | ' | ' | ' | 297,500,000 | 306,900,000 | ' | ' | ' | ' | ' | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 124,000,000 | ' | ' | ' | ' |
Current maturities | -8,600,000 | -9,100,000 | ' | ' | ' | ' | ' | ' | ' | -2,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -200,000 | ' | -300,000 | ' | ' | ' | ' | -8,400,000 | -6,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Debt Instrument, Unamortized Discount (Premium), Net, Current Maturities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Par value, excluding current maturities | 1,352,700,000 | 1,371,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Debt Instrument, Unamortized Discount (Premium), Net, Noncurrent Maturities | -2,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Effective Interest Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.30% | 7.10% | 0.00% | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15.80% | [1] | 15.80% | [1] | 15.00% | 15.00% | ' | ' | ' | ' | 18.30% | 18.30% | 18.30% | ' | 25.60% | 25.60% | 25.60% | ' | 15.50% | 15.50% | ' | ' | ' | ' | ' | ' | ' | ' | 11.90% | 11.90% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Make whole premium | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,600,000 | 6,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Accelerated amortization of the discount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Fair value of long term debt | ' | ' | ' | 1,363,400,000 | 1,375,400,000 | 1,318,400,000 | 1,011,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 335,800,000 | 366,300,000 | 289,200,000 | 197,500,000 | ' | 318,900,000 | 313,900,000 | 326,100,000 | 325,800,000 | ' | ' | ' | ' | 218,700,000 | 199,500,000 | 225,800,000 | 81,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 297,500,000 | 306,900,000 | 297,500,000 | 306,900,000 | ' | ' | 192,500,000 | 188,800,000 | 179,800,000 | 99,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Long-term Debt, Excluding Current Maturities | $1,354,800,000 | $1,366,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
[1] | The effective interest rate on the Term A Facility is calculated based upon the capacity of the facility and not the par value. |
Debt_And_Financing_Maturities_
Debt And Financing (Maturities) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | ||||
In Millions, unless otherwise specified | Restructured Term Loan [Member] | Restructured Term Loan [Member] | ABL Facility [Member] | Series A and B Notes [Member] | 6% Notes [Member] | Lease Financing Obligation [Member] | A&R CDA [Member] | Other [Member] | Other [Member] | Series A Note [Member] | Series B Note [Member] | ||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
2013 | $402.90 | ' | $0 | ' | $324.90 | [1] | $0 | [2] | $69.40 | [3] | $8.40 | [1],[4] | $0 | $0.20 | ' | ' | ' |
2014 | 677 | ' | 298.1 | ' | 0 | [1] | 247 | [2] | 0 | [3] | 7.7 | [4] | 124.2 | 0 | ' | ' | ' |
2015 | 9.5 | ' | 0 | ' | 0 | [1] | 0 | [2] | 0 | [3] | 9.5 | [4] | 0 | 0 | ' | ' | ' |
2016 | 11.4 | ' | 0 | ' | 0 | [1] | 0 | [2] | 0 | [3] | 11.4 | [4] | 0 | 0 | ' | ' | ' |
2017 | 13.6 | ' | 0 | ' | 0 | [1] | 0 | [2] | 0 | [3] | 13.6 | [4] | 0 | 0 | ' | ' | ' |
Thereafter | 246.9 | ' | 0 | ' | 0 | [1] | 0 | [2] | 0 | [3] | 246.9 | [4] | 0 | 0 | ' | ' | ' |
Principal cash obligations | ' | ' | ' | ' | ' | ' | ' | 23.8 | ' | ' | ' | ' | ' | ||||
Net book value of assets | ' | ' | ' | ' | ' | ' | ' | 223.1 | ' | ' | ' | ' | ' | ||||
Paid-in-kind interst, due at maturity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13.4 | 9 | ||||
Total | $1,361.30 | $1,381 | $298.10 | $298.70 | $324.90 | [1] | $247 | [2] | $69.40 | [3] | $297.50 | [4] | $124.20 | $0.20 | $0.30 | ' | ' |
[1] | *The effective interest rate on the Term A Facility is calculated based upon the capacity of the facility and not the par value. | ||||||||||||||||
[2] | The Series A Notes exclude $13.4 million and the Series B Notes exclude $9.0 million of in-kind interest payments that will be due and payable if the notes are held to maturity. | ||||||||||||||||
[3] | The Prior ABL Facility and 6% Notes were included in long-term liabilities on the Consolidated Balance Sheet as they were repaid with long-term financing as part of the 2014 Financing Transactions. | ||||||||||||||||
[4] | Lease financing obligations subsequent to 2018 of $246.9 million represent principal cash obligations of $23.8 million and the estimated net book value of the underlying assets at the expiration of their associated lease agreements of $223.1 million. |
Liquidity_Details
Liquidity (Details) (ABL Facility Credit Agreement [Member]) | 12 Months Ended |
Dec. 31, 2013 | |
ABL Facility Credit Agreement [Member] | ' |
Debt Instrument, Covenants [Abstract] | ' |
Maximum total leverage ratio, December 31, 2013 | 5.7 |
Minimum interest leverage ratio, December 31, 2013 | 1.5 |
Maximum Total Leverage Ratio, June 30, 2014 | 6 |
Maximum Total Leverage Ratio, September 30, 2014 | 5 |
Maximum Total Leverage Ratio, December 31, 2014 | 4.5 |
Maximum Total Leverage Ratio, March 31, 2015 | 4 |
Maximum Total Leverage Ratio, June 30, 2015 | 3.75 |
Maximum Total Leverage Ratio, September 30, 2015 | 3.75 |
Maximum Total Leverage Ratio, December 31, 2015 | 3.75 |
Maximum Total Leverage Ratio, March 31, 2016 | 3.5 |
Maximum Total Leverage Ratio, June 30, 2016 | 3.5 |
Maximum Total Leverage Ratio, September 30, 2016 | 3.5 |
Maximum Total Leverage Ratio, December 31, 2016 | 3.25 |
Maximum Total Leverage Ratio, March 31, 2017 | 3.25 |
Maximum Total Leverage Ratio, June 30, 2017 | 3.25 |
Maximum Total Leverage Ratio, September 30, 2017 | 3.25 |
Maximum Total Leverage Ratio, December 31, 2017 and Thereafter | 3 |
Liquidity_Risks_and_Uncertaint
Liquidity (Risks and Uncertainties) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Risks and Uncertainties [Line Items] | ' | ' | ' |
Net cash used in operating activities | $12,100,000 | ($25,900,000) | ($26,000,000) |
Aggregate principal amount of outstanding indebtness | 1,363,400,000 | ' | ' |
Future operating lease obligations | 56,100,000 | ' | ' |
Capital expenditures | 66,900,000 | 66,400,000 | 71,600,000 |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ' | ' | ' |
Risks and Uncertainties [Line Items] | ' | ' | ' |
Funding obligations for pension plans | 79,900,000 | ' | ' |
Multiemployer Plans, Pension [Member] | ' | ' | ' |
Risks and Uncertainties [Line Items] | ' | ' | ' |
Funding obligations for pension plans | 88,700,000 | ' | ' |
ABL Facility Credit Agreement [Member] | ' | ' | ' |
Risks and Uncertainties [Line Items] | ' | ' | ' |
Maximum borrowing capacity | 400,000,000 | ' | ' |
Line of credit facility, total availability | 227,800,000 | ' | ' |
Line of credit facility, remaining borrowing capacity | 376,400,000 | ' | ' |
2014 ABL Facility Credit Agreement [Member] [Member] | ' | ' | ' |
Risks and Uncertainties [Line Items] | ' | ' | ' |
Maximum borrowing capacity | 450,000,000 | ' | ' |
Revenue equipment [Member] | ' | ' | ' |
Risks and Uncertainties [Line Items] | ' | ' | ' |
Operating Lease Commitment | $67,100,000 | ' | ' |
Operating Lease Term | '6 years | ' | ' |
2011_Financial_Restructuring_2
2011 Financial Restructuring 2011 Financial Restructuring (Details) (USD $) | 0 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | |||||||||||||||||||||||||||||||
Nov. 30, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jul. 22, 2011 | Jul. 22, 2010 | Sep. 16, 2011 | Sep. 16, 2011 | Jul. 22, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Jul. 22, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Jul. 22, 2011 | Jul. 22, 2011 | Jul. 22, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Jul. 22, 2011 | Jul. 22, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jul. 22, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jul. 22, 2011 | Jul. 22, 2011 | Jul. 22, 2011 | Sep. 16, 2011 | Jul. 22, 2011 | Sep. 16, 2011 | Jul. 22, 2011 | Sep. 16, 2011 | Jul. 22, 2011 | Jul. 22, 2011 | Jul. 22, 2011 | Jul. 22, 2011 | Jul. 22, 2011 | Jul. 22, 2011 | |
ABS Facility [Member] | ABS Facility [Member] | Senior A Notes [Member] | Senior B Notes [Domain] | Senior B Notes [Domain] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Restructured Credit Agreement [Member] | Letter of Credit [Member] | Restructured Term Loan [Member] | Restructured Term Loan [Member] | Restructured Term Loan [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Series A Preferred Stock [Member] | Restructured Credit Agreement [Member] | Teamster National 401K Savings Plan [Member] | Teamster National 401K Savings Plan [Member] | Teamster National 401K Savings Plan [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Contribution Deferral Agreement [Member] | Senior B Notes [Domain] | Senior A Notes [Member] | Restructured Contribution Deferral Agreement [Member] | Central States Pension Plan [Member] | |||||
Senior A Notes [Member] | Senior A Notes [Member] | Senior A Notes [Member] | Senior B Notes [Domain] | Senior B Notes [Domain] | Senior B Notes [Domain] | Series B Preferred Stock [Member] | Common Stock [Member] | Common Stock [Member] | Senior A Notes [Member] | Senior A Notes [Member] | Senior B Notes [Domain] | Senior B Notes [Domain] | Restructured Contribution Deferral Agreement [Member] | |||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reverse stock split, conversion ratio | 0.003333 | ' | ' | 0.003333 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,700,000 | 0 | 0 | 5,000,000 | ' | 1,929,000 | 1,112,000 | 478,000 | 1 | ' | 1,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock shares converted from preferred | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 5,000,000 | 4,600,000 | 0 | 0 | 6,210,000 | ' | ' | ' | 1,600,000 | 1,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Face Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $140,000,000 | ' | ' | $100,000,000 | ' | ' | ' | ' | $307,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock estimated fair value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 43,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate principal amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 305,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 437,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion feature embedded in notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 26,500,000 | 12,400,000 | 106,800,000 | 41,700,000 | ' | ' | ' | ' | ' |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | ' | 0 | 0 | -79,200,000 | ' | ' | -14,100,000 | -65,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Professional fees | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,800,000 | 1,600,000 | 14,000,000 | ' | ' |
Accrued interest forgiven by the lenders | ' | ' | ' | ' | 11,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred commitment fees | ' | ' | ' | ' | 15,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Write-off of unamortized deferred debt costs | ' | ' | ' | ' | 1,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gains (Losses) on Extinguishment of Debt | ' | 0 | 0 | 25,800,000 | ' | 25,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unamortized debt issuance expense | ' | ' | ' | ' | 5,200,000 | ' | ' | ' | 2,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued interest converted to principal | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $4,500,000 | ' |
Principal amount outstanding percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 64.30% |
Stated interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | 10.00% | ' | 10.00% | 10.00% | ' | ' | ' | 10.00% | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.50% |
2011_Financial_Restructuring_21
2011 Financial Restructuring 2011 Financial Restructuring (Cash Flow Activity) (Details) (USD $) | 12 Months Ended | 0 Months Ended | ||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jul. 22, 2011 | Jul. 22, 2011 | Jul. 22, 2011 | Jul. 22, 2011 | Jul. 22, 2011 | Jul. 22, 2011 | Jul. 22, 2011 |
Financial Restructuring [Member] | Financial Restructuring [Member] | Financial Restructuring [Member] | Financial Restructuring [Member] | Financial Restructuring [Member] | Financial Restructuring [Member] | Financial Restructuring [Member] | ||||
ABS Facility [Member] | ABL Facility [Member] | Senior Notes [Member] | Line of Credit [Member] | Financial Standby Letter of Credit [Member] | Revolving Credit Facility [Member] | |||||
Senior B Notes [Domain] | ABL facility - Term B [Member] | |||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of long-term debt | $0.30 | $45 | $441.60 | ' | ' | ' | $100 | $255 | ' | $18.50 |
Increase (decrease) in restricted cash | ' | ' | ' | ' | ' | 90 | ' | ' | 64.7 | ' |
Repayment of long-term debt | 9.2 | 25.6 | 46.7 | ' | 164.2 | ' | ' | ' | ' | ' |
Fees, expenses and original issue discount | ' | ' | ' | 57 | ' | ' | ' | ' | ' | ' |
Net cash provided (used in) investing activities, continuing operations | ' | ' | ' | 2.4 | ' | ' | ' | ' | ' | ' |
Total sources of funds | ' | ' | ' | 375.9 | ' | ' | ' | ' | ' | ' |
Total uses of funds | ' | ' | ' | $375.90 | ' | ' | ' | ' | ' | ' |
Stock_Compensation_Plans_Detai
Stock Compensation Plans (Details) (USD $) | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | ||||||||||||||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jul. 22, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Sep. 26, 2011 | Mar. 01, 2010 | Jul. 22, 2011 | Sep. 16, 2011 | Jul. 22, 2011 |
Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Restricted Stock And Share Unit [Member] | Restricted Stock And Share Unit [Member] | 2011 Long Term Incentive And Equity Award Plan [Member] | 2011 Long Term Incentive And Equity Award Plan [Member] | Second Union Employee Option Plan [Member] | Teamster National 401K Savings Plan [Member] | Teamster National 401K Savings Plan [Member] | Teamster National 401K Savings Plan [Member] | ||||
Stock Options [Member] | Series B Preferred Stock [Member] | Common Stock [Member] | Common Stock [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares reserved for issuance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,100,000 | 2,000,000 | ' | ' | ' | ' |
Shares authorized | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31,000 | ' | ' | ' |
Exercise price per share | ' | $0 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3,600 | ' | ' | ' |
Expiration period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | ' |
Recognized compensation expense | $5.80 | $3.80 | $15.50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized compensation expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.8 | 6.4 | ' | ' | ' | ' | ' | ' |
Period of recognition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2 years 1 month 17 days | ' | ' | ' | ' | ' | ' | ' |
Shares delivered into escrow | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,300,000 | ' | ' |
Fair value of shares delivered into escrow | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $14.90 | ' | ' |
Common stock shares converted from preferred | ' | ' | ' | 0 | 0 | 5,000,000 | 4,600,000 | 0 | 0 | 6,210,000 | ' | ' | ' | ' | ' | ' | 1,600,000 | 1,600,000 |
Stock_Compensation_Plans_Summa
Stock Compensation Plans (Summary Of Option Activity) (Details) (USD $) | 12 Months Ended | |||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2009 |
Options Outstanding [Roll Forward] | ' | ' | ' | ' |
Outstanding, Shares | 33 | ' | 33 | 33 |
Shares granted | 0 | 0 | ' | ' |
Exercised, Shares | 0 | 0 | ' | ' |
Forfeited / expired, Shares | 0 | 0 | ' | ' |
Outstanding, Shares | 33 | 33 | 33 | 33 |
Options Outstanding, Weighted Average Exercise Price [Roll Forward] | ' | ' | ' | ' |
Outstanding, Weighted Average Exercise Price | $3,680.09 | ' | $3,680.09 | $3,680.09 |
Granted, Weighted Average Exercise Price | $0 | $0 | ' | ' |
Exercised, Weighted Average Exercise Price | $0 | $0 | ' | ' |
Forfeited / expired, Weighted Average Exercise Price | $0 | $0 | ' | ' |
Outstanding, Weighted Average Exercise Price | $3,680.09 | $3,680.09 | $3,680.09 | $3,680.09 |
Stock_Compensation_Plans_Optio
Stock Compensation Plans (Options Based On Range Of Exercise Price) (Details) (USD $) | 12 Months Ended | 12 Months Ended | ||||
Share data in Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2009 | Dec. 31, 2013 | Dec. 31, 2013 |
Stock Options [Member] | Stock Options [Member] | |||||
$ 3,600.00 - 35,475.00 | ||||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ' | ' | ' |
Range of exercise prices, lower limit | ' | ' | ' | ' | $3,600 | ' |
Range of exercise prices, upper limit | ' | ' | ' | ' | $35,475 | ' |
Outstanding, Shares | 33 | 33 | 33 | 33 | ' | 33 |
Outstanding, Weighted Average Remaining Contractual Term | ' | ' | ' | ' | ' | '6 years 2 months 1 day |
Outstanding, Weighted Average Exercise Price | $3,680.09 | $3,680.09 | $3,680.09 | $3,680.09 | ' | $3,680.09 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | ' | ' | ' | ' | ' | $0 |
Exercisable, Shares | ' | ' | ' | ' | ' | 33 |
Exercisable, Weighted Average Exercise Price | ' | ' | ' | ' | ' | $3,680.09 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | 0 | ' | ' | ' | ' |
Granted, Weighted Average Exercise Price | $0 | $0 | ' | ' | ' | ' |
Exercised, Shares | 0 | 0 | ' | ' | ' | ' |
Exercised, Weighted Average Exercise Price | $0 | $0 | ' | ' | ' | ' |
Forfeited / expired, Shares | 0 | 0 | ' | ' | ' | ' |
Forfeited / expired, Weighted Average Exercise Price | $0 | $0 | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | ' | ' | ' | ' | ' | $0 |
Stock_Compensation_Plans_Restr
Stock Compensation Plans (Restricted Stock Activity) (Details) (Restricted Stock And Share Unit [Member], USD $) | 12 Months Ended | |||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2009 |
Restricted Stock And Share Unit [Member] | ' | ' | ' | ' |
Shares [Roll Forward] | ' | ' | ' | ' |
Nonvested | 752 | 270 | ' | 0 |
Granted | 429 | 586 | 271 | ' |
Vested | -405 | -21 | -1 | ' |
Forfeited | -118 | -83 | 0 | ' |
Nonvested | 658 | 752 | 270 | 0 |
Weighted Average Grant-Date Fair Value [Roll Forward] | ' | ' | ' | ' |
Nonvested, Weighted AVerage Grant-Date Fair Value | $11.47 | $11.60 | ' | $0 |
Granted | $6.24 | $11.34 | $11.60 | ' |
Vested | $10.27 | $8.85 | $11.60 | ' |
Forfeited | $10.54 | $11.63 | $0 | ' |
Nonvested, Weighted AVerage Grant-Date Fair Value | $8.96 | $11.47 | $11.60 | $0 |
Stock_Compensation_Plans_Vesti
Stock Compensation Plans (Vesting Terms) (Details) (Restricted Stock And Share Unit [Member]) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Granted | 429 | 586 | 271 |
50% immediately, 50% 1 year anniversary of grant [Member] [Domain] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Granted | 187 | 0 | 0 |
50% 1 year anniversary of grant, 50% 2 year anniversary of grant [Member] [Domain] [Domain] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Granted | 150 | 0 | 0 |
25 Percent Per Year For Four Years [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Granted | 56 | 501 | 78 |
25% immediately, 25% each employment anniversary thereafter [Domain] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Granted | 18 | 0 | 0 |
100% immediately [Domain] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Granted | 5 | 0 | 0 |
100 Percent February 20, 2013 [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Granted | 0 | 72 | 0 |
33 Percent Immediately, 33 Percent Per Year Thereafter [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Granted | 13 | 13 | 3 |
33 Percent January 1, 2013, 25 Percent 2 Year, 25 Percent Each Year Thereafter [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Granted | ' | 0 | 184 |
100 Percent July 27, 2013 [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Granted | 0 | 0 | 6 |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Income Tax Examination [Line Items] | ' | ' |
Net deferred tax liability | $2.10 | $2.40 |
Income tax receivable | 20.1 | 27.3 |
Income tax refunds | 14.4 | ' |
Net operating loss carryforwards | 689.1 | ' |
Estimated amount of net operating loss carryforwards that will not be utilized | 298.6 | ' |
Foreign tax credit carryforwards, subject to expriration | 16.9 | ' |
Valuation allowance | 454.1 | 448.4 |
Unrecognized tax benefits that would impact effective tax rate | 24.8 | 25.8 |
Unrecognized Tax Benefits, Interest on Income Taxes Expense | 1.4 | 2.2 |
Interest accrual reversal | 2.6 | 5.6 |
Interest accrued net reduction | 1.2 | 3.4 |
Total amount of interest accrued for uncertain tax positions | 14.5 | 15.7 |
Amount by which unrecognized tax benefits may decrease over the next 12 months | 21.2 | ' |
State and Foreign Tax Authority [Member] | ' | ' |
Income Tax Examination [Line Items] | ' | ' |
Tax paid to settle audits of tax years 2001-08 for certain subsidiaries | 1.2 | ' |
Interest paid to settle audits of tax years 2001-08 for certain subsidiaries | $0.80 | ' |
Income_Taxes_Deferred_tax_liab
Income Taxes (Deferred tax liabilities and assets) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Income Tax Disclosure [Abstract] | ' | ' |
Depreciation | $295.20 | $327.80 |
Deferred revenue | 17.2 | 12.2 |
Intangibles | 29.5 | 36.3 |
Gain on debt redemption | 64.3 | 63.9 |
Other | 54.7 | 54.7 |
Deferred tax liabilities | 460.9 | 494.9 |
Claims and insurance | -169.2 | -179.6 |
Net operating loss carryforwards | -329.1 | -298.8 |
Employee benefit accruals | -237.9 | -288.9 |
Other | -176.7 | -173.6 |
Deferred tax assets | -912.9 | -940.9 |
Valuation allowance | 454.1 | 448.4 |
Net deferred tax assets | -458.8 | -492.5 |
Net deferred tax liability | $2.10 | $2.40 |
Income_Taxes_Federal_Tax_Rate_
Income Taxes (Federal Tax Rate Reconciliation) (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Federal statutory rate | 35.00% | 35.00% | 35.00% |
State income taxes, net | -2.40% | -1.80% | -1.10% |
Foreign tax rate differential | -0.10% | 2.60% | 0.00% |
Permanent differences | 2.00% | 8.60% | -6.30% |
Valuation allowance | -31.90% | -39.80% | -35.40% |
Net (increase) decrease in unrecognized tax benefits | 0.60% | -1.70% | 3.70% |
Benefit from settlement of Tax Court litigation | 0.00% | 6.40% | 0.00% |
Other, net | 0.00% | 0.60% | 6.20% |
Effective tax rate | 35.40% | 9.90% | 2.10% |
Income_Taxes_Provision_Details
Income Taxes (Provision) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Current: | ' | ' | ' |
Federal | ($14.50) | ($24) | ($23.90) |
State | 1.4 | 2.5 | 11.3 |
Foreign | 9.6 | 2.7 | 5.3 |
Current income tax benefit | -3.5 | -18.8 | -7.3 |
Deferred: | ' | ' | ' |
Federal | -41.7 | 5.5 | -0.2 |
State | 0 | 0.5 | 0 |
Foreign | -0.7 | -2.2 | 0 |
Deferred income tax provision (benefit) | -42.4 | 3.8 | -0.2 |
Income tax benefit | -45.9 | -15 | -7.5 |
Domestic | -152.8 | -173.8 | -366.1 |
Foreign | 23.3 | 22.3 | 4.2 |
Net Loss Before Income Taxes | ($129.50) | ($151.50) | ($361.90) |
Income_Taxes_Unrecognized_Tax_
Income Taxes (Unrecognized Tax Benefit) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Unrecognized Tax Benefits [Roll Forward] | ' | ' |
Unrecognized tax benefits at January 1 | $29.70 | $27.10 |
Increases related to: tax positions taken during a prior period | 1.3 | 3.6 |
Increases related to: tax positions taken during the current period | 0.9 | 0.9 |
Decreases related to: lapse of applicable statute of limitations | -1.2 | -1.9 |
Decreases related to: settlements with taxing authorities | -3.1 | 0 |
Unrecognized tax benefits at December 31 | $27.60 | $29.70 |
Business_Segments_Details
Business Segments (Details) (USD $) | 0 Months Ended | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 15, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Loss on sale of assets recognized | ' | ($2.20) | ($9.70) | ($8.20) |
External revenue | ' | 4,865.40 | 4,850.50 | 4,868.80 |
Revenues | ' | 0 | 0 | 0 |
Operating income (loss) | ' | 28.4 | 24.1 | -138.2 |
Identifiable assets | ' | 2,064.90 | 2,225.50 | 2,485.80 |
Acquisition of property and equipment | ' | -66.9 | -66.4 | -71.6 |
Proceeds from disposal of property and equipment | ' | 9.8 | 50.4 | 67.5 |
Depreciation and amortization | ' | 172.3 | 183.8 | 195.7 |
Equity investment impairment | ' | 0 | 30.8 | 0 |
YRC Freight [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
External revenue | ' | 3,136.80 | 3,206.90 | 3,203 |
Revenues | ' | 0 | 0 | 0 |
Operating income (loss) | ' | -31.2 | -37.3 | -88.5 |
Identifiable assets | ' | 1,513.40 | 1,315.40 | 1,410 |
Acquisition of property and equipment | ' | -43.4 | -47.2 | -29.4 |
Proceeds from disposal of property and equipment | ' | 6.7 | 54.1 | 48.5 |
Depreciation and amortization | ' | 109.1 | 119.8 | 102.9 |
Equity investment impairment | ' | 0 | 0 | ' |
Regional Transportation [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
External revenue | ' | 1,728.60 | 1,640.40 | 1,553.30 |
Revenues | ' | 0 | 0.2 | 1 |
Operating income (loss) | ' | 79.9 | 70 | 32.9 |
Identifiable assets | ' | 698.4 | 745.5 | 843.6 |
Acquisition of property and equipment | ' | -23.3 | -19 | -33.1 |
Proceeds from disposal of property and equipment | ' | 3 | -0.2 | 0.7 |
Depreciation and amortization | ' | 63.1 | 63.3 | 61.6 |
Equity investment impairment | ' | 0 | 0 | ' |
Truckload [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Assets of disposal group | 18.5 | ' | ' | ' |
Loss on sale of assets recognized | 4.6 | ' | ' | ' |
External revenue | ' | 0 | 0 | 86.9 |
Revenues | ' | 0 | 0 | 12 |
Operating income (loss) | ' | 0 | 0 | -18.9 |
Identifiable assets | ' | 0 | 0 | 2.7 |
Acquisition of property and equipment | ' | 0 | 0 | -0.6 |
Proceeds from disposal of property and equipment | ' | 0 | 0 | 18.2 |
Depreciation and amortization | ' | 0 | 0 | 7.9 |
Equity investment impairment | ' | 0 | 0 | ' |
Corporate / Eliminations [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
External revenue | ' | 0 | 3.2 | 25.6 |
Revenues | ' | 0 | -0.2 | -13 |
Operating income (loss) | ' | -20.3 | -8.6 | -63.7 |
Identifiable assets | ' | -146.9 | 164.6 | 229.5 |
Acquisition of property and equipment | ' | -0.2 | -0.2 | -8.5 |
Proceeds from disposal of property and equipment | ' | 0.1 | -3.5 | 0.1 |
Depreciation and amortization | ' | 0.1 | 0.7 | 23.3 |
Equity investment impairment | ' | 0 | 30.8 | ' |
Foreign Countries [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Long-lived assets located in foreign countries | ' | 12.4 | 14.7 | 15.5 |
Revenues | ' | $139.50 | $158.30 | $186.80 |
Shareholders_Deficit_Details
Shareholders' Deficit (Details) (USD $) | 0 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 0 Months Ended | 12 Months Ended | |||||||||||||||||||
In Millions, except Share data, unless otherwise specified | Nov. 30, 2011 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 16, 2011 | Dec. 31, 2009 | Sep. 16, 2011 | Sep. 16, 2011 | Sep. 16, 2011 | Sep. 30, 2010 | Feb. 17, 2010 | Feb. 17, 2010 | Jul. 22, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jul. 22, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Jul. 22, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jul. 22, 2011 | Jul. 22, 2011 |
September 16, 2011 Amendment [Member] | September 16, 2011 Amendment [Member] | September 16, 2011 Amendment [Member] | February 17, 2010 Amendment [Member] | February 17, 2010 Amendment [Member] | February 17, 2010 Amendment [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Preferred Stock [Member] | Preferred Stock [Member] | Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Credit Agreement [Member] | |||||||
Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | IBT [Member] | Series B Preferred Stock [Member] | |||||||||||||||||||||||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock authorized shares | ' | ' | 5,000,000 | 5,000,000 | ' | ' | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | 4,999,999 | ' | ' | ' | ' | ' |
Liquidation value per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1 | $1 | $1 | ' | $0 | $0 | ' | ' | ' |
Shares issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 1 | 1 | 4,999,999 | 0 | 0 | ' | ' | ' |
Outstanding credit agreement claims | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,717,948 |
Modification of memorandum of understanding shares in 2010 and 2009 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,282,051 | ' |
Fair value of preferred stock allocated to conversion feature | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $58 | ' | ' | ' | ' | ' |
Capital stock authorized shares | ' | ' | ' | ' | 85,000,000 | ' | 10,005,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, par value | ' | ' | $1 | $1 | ' | ' | $1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock authorized shares | ' | ' | 33,333,333 | 33,333,333 | ' | ' | 10,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, par value | ' | ' | $0.01 | $0.01 | ' | ' | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reverse stock split, conversion ratio | 0.003333 | 0.003333 | ' | ' | ' | ' | ' | 0.02 | 0.003333 | 0.04 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock shares converted from preferred | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -4,600,000 | 0 | 0 | -6,210,000 | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | -5,000,000 | ' | ' |
Common stock issued shares | ' | ' | 10,173,000 | 7,976,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning balance, preferred shares | ' | ' | 0 | 0 | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning balance, common shares | ' | ' | 10,173,000 | 7,976,000 | ' | 159,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,929,000 | 1,112,000 | 478,000 | 0 | 0 | 0 | 1 | ' | ' | 3,700,000 | 0 | 0 | 5,000,000 | ' | ' |
Common stock shares converted from preferred | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -4,600,000 | 0 | 0 | -6,210,000 | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | -5,000,000 | ' | ' |
Issuance of equity awards, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 268,000 | 17,000 | 0 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ending balance, preferred shares | ' | 0 | 0 | 0 | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ending balance, common shares | ' | 6,847,000 | 10,173,000 | 7,976,000 | ' | 159,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss_Per_Share_Details
Loss Per Share (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Antidillutive options and shares [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Antidilutive shares and options units | 691,000 | 771,700 | 302,700 |
Antidillutive 6% Common Shares [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Antidilutive shares and options units | 17,600 | 17,600 | 17,600 |
Antidillutive Series A Convertible Note Conversion Shares [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Antidilutive shares and options units | 5,226,000 | 4,740,000 | 4,300,000 |
Antidillutive Series B Convertible Note Conversion Shares [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Antidilutive shares and options units | 4,219,000 | 6,149,000 | 7,261,000 |
Commitments_Contingencies_and_1
Commitments, Contingencies, and Uncertainties (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Loss Contingencies [Line Items] | ' | ' | ' |
Rent expense | $76 | $78 | $79.40 |
Minium annual rentals 2013 | 56.1 | ' | ' |
Minium annual rentals 2014 | 41.4 | ' | ' |
Minium annual rentals 2015 | 22.4 | ' | ' |
Minium annual rentals 2016 | 16.6 | ' | ' |
Minium annual rentals 2017 | 12 | ' | ' |
Minium annual rentals thereafter | 18.1 | ' | ' |
Committed for capital expenditures to be completed during 2013 | 2.3 | ' | ' |
ABF Lawsuit - Threatened Litigation [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Loss contingency, damages sought | $750 | ' | ' |
Related_Party_Transactions_Det
Related Party Transactions (Details) (MAEVA [Member], USD $) | 1 Months Ended | 12 Months Ended |
Jan. 31, 2014 | Dec. 31, 2013 | |
Related Party Transaction [Line Items] | ' | ' |
Related Party monthly fee | ' | $250,000 |
Completion Fee | ' | 5,500,000 |
Related Party Payments | ' | 3,000,000 |
Subsequent Event [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Completion Fee | 5,500,000 | ' |
Incremental Completion Fee | ' | $3,500,000 |