Document And Entity Information
Document And Entity Information | 9 Months Ended |
Sep. 30, 2019shares | |
Document Information [Line Items] | |
Entity Central Index Key | 0000728535 |
Entity Registrant Name | HUNT J B TRANSPORT SERVICES INC |
Amendment Flag | false |
Current Fiscal Year End Date | --12-31 |
Document Fiscal Period Focus | Q3 |
Document Fiscal Year Focus | 2019 |
Document Type | 10-Q |
Document Quarterly Report | true |
Document Period End Date | Sep. 30, 2019 |
Document Transition Report | false |
Entity File Number | 0-11757 |
Entity Incorporation, State or Country Code | AR |
Entity Tax Identification Number | 71-0335111 |
Entity Address, Address Line One | 615 J.B. Hunt Corporate Drive |
Entity Address, City or Town | Lowell |
Entity Address, State or Province | AR |
Entity Address, Postal Zip Code | 72745 |
City Area Code | 479 |
Local Phone Number | 820-0000 |
Title of 12(b) Security | Common Stock, $0.01 par value |
Trading Symbol | JBHT |
Security Exchange Name | NASDAQ |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Small Business | false |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
Entity Common Stock, Shares Outstanding | 106,577,902 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Earnings (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Operating revenues | $ 2,363,660 | $ 2,209,760 | $ 6,714,934 | $ 6,297,032 |
Operating expenses: | ||||
Rents and purchased transportation | 1,196,377 | 1,125,386 | 3,282,682 | 3,163,443 |
Salaries, wages and employee benefits | 554,872 | 495,350 | 1,606,344 | 1,410,942 |
Depreciation and amortization | 126,803 | 108,801 | 370,728 | 321,807 |
Fuel and fuel taxes | 114,764 | 117,976 | 344,926 | 341,398 |
Operating supplies and expenses | 87,044 | 79,225 | 249,480 | 226,352 |
General and administrative expenses, net of asset dispositions | 49,077 | 42,449 | 140,654 | 112,078 |
Insurance and claims | 43,956 | 45,594 | 124,963 | 102,464 |
Operating taxes and licenses | 14,266 | 13,203 | 40,991 | 37,025 |
Communication and utilities | 8,639 | 7,088 | 25,416 | 23,241 |
Total operating expenses | 2,195,798 | 2,035,072 | 6,186,184 | 5,738,750 |
Operating income | 167,862 | 174,688 | 528,750 | 558,282 |
Net interest expense | 12,357 | 9,961 | 40,153 | 28,969 |
Earnings before income taxes | 155,505 | 164,727 | 488,597 | 529,313 |
Income taxes | 37,095 | 33,617 | 116,953 | 128,409 |
Net earnings | $ 118,410 | $ 131,110 | $ 371,644 | $ 400,904 |
Weighted average basic shares outstanding (in shares) | 106,735 | 109,254 | 107,610 | 109,484 |
Basic earnings per share (in dollars per share) | $ 1.11 | $ 1.20 | $ 3.45 | $ 3.66 |
Weighted average diluted shares outstanding (in shares) | 107,692 | 110,235 | 108,569 | 110,591 |
Diluted earnings per share (in dollars per share) | $ 1.10 | $ 1.19 | $ 3.42 | $ 3.63 |
Dividends declared per common share (in dollars per share) | $ 0.26 | $ 0.24 | $ 0.78 | $ 0.72 |
Service Excluding Fuel Surcharge [Member] | ||||
Operating revenues | $ 2,102,494 | $ 1,936,653 | $ 5,954,102 | $ 5,523,974 |
Fuel Surcharge [Member] | ||||
Operating revenues | $ 261,166 | $ 273,107 | $ 760,832 | $ 773,058 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Current assets: | ||
Cash and cash equivalents | $ 75,132 | $ 7,600 |
Trade accounts receivable, net | 1,051,027 | 1,051,698 |
Prepaid expenses and other | 257,297 | 443,683 |
Total current assets | 1,383,456 | 1,502,981 |
Property and equipment, at cost | 5,615,289 | 5,329,243 |
Less accumulated depreciation | 1,964,927 | 1,884,132 |
Net property and equipment | 3,650,362 | 3,445,111 |
Goodwill and intangible assets, net | 189,863 | 105,157 |
Other assets, net | 162,656 | 38,398 |
Total assets | 5,386,337 | 5,091,647 |
Current liabilities: | ||
Current portion of long-term debt | 0 | 250,706 |
Trade accounts payable | 654,959 | 709,736 |
Claims accruals | 281,758 | 275,139 |
Accrued payroll | 66,692 | 80,922 |
Other accrued expenses | 71,615 | 35,845 |
Total current liabilities | 1,075,024 | 1,352,348 |
Long-term debt | 1,293,312 | 898,398 |
Other long-term liabilities | 180,367 | 96,056 |
Deferred income taxes | 644,105 | 643,461 |
Stockholders' equity | 2,193,529 | 2,101,384 |
Total liabilities and stockholders' equity | $ 5,386,337 | $ 5,091,647 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Total |
Balances at Dec. 31, 2017 | $ 1,671 | $ 310,811 | $ 3,803,844 | $ (2,277,001) | $ 1,839,325 |
Comprehensive income: | |||||
Net earnings | 0 | 0 | 400,904 | 0 | 400,904 |
Cash dividend declared and paid | 0 | 0 | (78,785) | 0 | (78,785) |
Purchase of treasury shares | 0 | 0 | 0 | (100,027) | (100,027) |
Share-based compensation | 0 | 37,184 | 0 | 0 | 37,184 |
Restricted share issuances, net of stock repurchased for payroll taxes and other | 0 | (16,018) | 0 | (2,005) | (18,023) |
Balances at Dec. 31, 2017 | 1,671 | 310,811 | 3,803,844 | (2,277,001) | 1,839,325 |
Balances at Sep. 30, 2018 | 1,671 | 331,977 | 4,125,963 | (2,379,033) | 2,080,578 |
Balances at Jun. 30, 2018 | 1,671 | 337,290 | 4,021,055 | (2,326,654) | 2,033,362 |
Comprehensive income: | |||||
Net earnings | 0 | 0 | 131,110 | 0 | 131,110 |
Cash dividend declared and paid | 0 | 0 | (26,202) | 0 | (26,202) |
Purchase of treasury shares | 0 | 0 | 0 | (50,000) | (50,000) |
Share-based compensation | 0 | 11,184 | 0 | 0 | 11,184 |
Restricted share issuances, net of stock repurchased for payroll taxes and other | 0 | (16,497) | 0 | (2,379) | (18,876) |
Balances at Jun. 30, 2018 | 1,671 | 337,290 | 4,021,055 | (2,326,654) | 2,033,362 |
Balances at Sep. 30, 2018 | 1,671 | 331,977 | 4,125,963 | (2,379,033) | 2,080,578 |
Balances at Dec. 31, 2018 | 1,671 | 340,457 | 4,188,435 | (2,429,179) | 2,101,384 |
Comprehensive income: | |||||
Net earnings | 0 | 0 | 371,644 | 0 | 371,644 |
Cash dividend declared and paid | 0 | 0 | (84,087) | 0 | (84,087) |
Purchase of treasury shares | 0 | 0 | 0 | (225,680) | (225,680) |
Share-based compensation | 0 | 42,154 | 0 | 0 | 42,154 |
Restricted share issuances, net of stock repurchased for payroll taxes and other | 0 | (14,668) | 0 | 2,782 | (11,886) |
Balances at Dec. 31, 2018 | 1,671 | 340,457 | 4,188,435 | (2,429,179) | 2,101,384 |
Balances at Sep. 30, 2019 | 1,671 | 367,943 | 4,475,992 | (2,652,077) | 2,193,529 |
Balances at Jun. 30, 2019 | 1,671 | 367,166 | 4,385,391 | (2,618,872) | 2,135,356 |
Comprehensive income: | |||||
Net earnings | 0 | 0 | 118,410 | 0 | 118,410 |
Cash dividend declared and paid | 0 | 0 | (27,809) | 0 | (27,809) |
Purchase of treasury shares | 0 | 0 | 0 | (35,946) | (35,946) |
Share-based compensation | 0 | 13,850 | 0 | 0 | 13,850 |
Restricted share issuances, net of stock repurchased for payroll taxes and other | 0 | (13,073) | 0 | 2,741 | (10,332) |
Balances at Jun. 30, 2019 | 1,671 | 367,166 | 4,385,391 | (2,618,872) | 2,135,356 |
Balances at Sep. 30, 2019 | $ 1,671 | $ 367,943 | $ 4,475,992 | $ (2,652,077) | $ 2,193,529 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Retained Earnings [Member] | ||||
Cash dividend declared and paid per share (in dollars per share) | $ 0.26 | $ 0.24 | $ 0.78 | $ 0.72 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Cash flows from operating activities: | ||
Net earnings | $ 371,644 | $ 400,904 |
Adjustments to reconcile net earnings to net cash provided by operating activities: | ||
Depreciation and amortization | 370,728 | 321,807 |
Noncash lease expense | 28,731 | 0 |
Share-based compensation | 42,154 | 37,184 |
Loss on sale of revenue equipment and other | 9,085 | 8,441 |
Deferred income taxes | 644 | (23,442) |
Changes in operating assets and liabilities: | ||
Trade accounts receivable | 9,579 | (174,871) |
Other assets | 16,356 | 4,647 |
Trade accounts payable | 64,578 | 77,257 |
Income taxes payable or receivable | 89,975 | 72,926 |
Claims accruals | (4,749) | 25,043 |
Accrued payroll and other accrued expenses | (61,130) | 27,707 |
Net cash provided by operating activities | 937,595 | 777,603 |
Cash flows from investing activities: | ||
Additions to property and equipment | (722,371) | (676,097) |
Net proceeds from sale of equipment | 135,764 | 91,120 |
Business acquisition | (98,232) | 0 |
Changes in other assets | (77) | (1,278) |
Net cash used in investing activities | (684,916) | (586,255) |
Cash flows from financing activities: | ||
Proceeds from issuances of long-term debt | 700,000 | 0 |
Payments on long-term debt | (250,000) | 0 |
Proceeds from revolving lines of credit and other | 1,590,506 | 2,407,462 |
Payments on revolving lines of credit and other | (1,904,000) | (2,409,000) |
Purchase of treasury stock | (225,680) | (100,027) |
Stock repurchased for payroll taxes and other | (11,886) | (18,023) |
Dividends paid | (84,087) | (78,785) |
Net cash used in financing activities | (185,147) | (198,373) |
Net change in cash and cash equivalents | 67,532 | (7,025) |
Cash and cash equivalents at beginning of period | 7,600 | 14,612 |
Cash and cash equivalents at end of period | 75,132 | 7,587 |
Supplemental disclosure of cash flow information: | ||
Interest | 42,111 | 31,479 |
Income taxes | 33,738 | 81,334 |
Noncash investing activities | ||
Accruals for equipment received | $ 26,934 | $ 30,843 |
Note 1 - General
Note 1 - General | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. General Basis of Presentation The accompanying unaudited interim Condensed Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information. We believe such statements include all adjustments (consisting only of normal recurring adjustments) necessary for the fair presentation of our financial position, results of operations and cash flows at the dates and for the periods indicated. Pursuant to the requirements of the Securities and Exchange Commission (SEC) applicable to quarterly reports on Form 10 not not 10 December 31, 2018. not may December 31, 2019, August November Recent Accounting Pronouncement In June 2016, 2016 13, January 1, 2020, not Accounting Pronouncement Adopted in 2019 In February 2016, 2016 02, 2016 02 January 1, 2019. July 2018, 2018 11, no The FASB has provided certain practical expedients in applying the standard. Of the allowed practical expedients within the standard applicable to our operations, we elected the package of practical expedients which, among other things, allowed us to carry forward the historical lease classification upon adoption of the standard. We did not not not Upon adoption of the standard, we recorded offsetting lease assets and lease liabilities resulting in a $102.4 million increase in other assets, a $32.3 million increase in other accrued expenses and a $70.1 million increase in other long-term liabilities in our Condensed Consolidated Balance Sheet, as of January 1, 2019. not Leases We recognize a right-of-use asset and a lease liability on the effective date of a lease agreement. Right-of-use assets represent our right to use an underlying asset over the lease term and lease liabilities represent the obligation to make lease payments resulting from the lease agreement. We initially record these assets and liabilities based on the present value of lease payments over the lease term calculated using our incremental borrowing rate applicable to the leased asset or the implicit rate within the agreement if it is readily determinable. Lease agreements with lease and nonlease components are combined as a single lease component. Right-of-use assets additionally include net prepaid lease expenses. Options to extend or terminate an agreement are included in the lease term when it becomes reasonably certain the option will be exercised. Leases with an initial term of 12 not |
Note 2 - Earnings Per Share
Note 2 - Earnings Per Share | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 2. Earnings Per Share We compute basic earnings per share by dividing net earnings available to common stockholders by the actual weighted average number of common shares outstanding for the reporting period. Diluted earnings per share reflects the potential dilution that could occur if holders of unvested restricted and performance share units converted their holdings into common stock. The dilutive effect of restricted and performance share units was 1.0 million shares during both the third 2019 2018. nine September 30, 2019 2018, |
Note 3 - Share-based Compensati
Note 3 - Share-based Compensation | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 3 . Share-b ased Compensation The following table summarizes the components of our share-based compensation program expense (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Restricted share units: Pretax compensation expense $ 10,309 $ 7,626 $ 30,942 $ 26,061 Tax benefit 2,660 1,983 7,983 6,776 Restricted share unit expense, net of tax $ 7,649 $ 5,643 $ 22,959 $ 19,285 Performance share units: Pretax compensation expense $ 3,541 $ 3,557 $ 11,212 $ 11,123 Tax benefit 914 925 2,893 2,892 Performance share unit expense, net of tax $ 2,627 $ 2,632 $ 8,319 $ 8,231 As of September 30, 2019, nine September 30, 2019, third 2019. |
Note 4 - Financing Arrangements
Note 4 - Financing Arrangements | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 4. Financing Arrangements Outstanding borrowings, net of unamortized discount, unamortized debt issuance cost and fair value swap, under our current financing arrangements consist of the following (in millions): September 30, 2019 December 31, 2018 Senior revolving line of credit $ - $ 307.1 Senior notes 1,293.3 842.0 Less current portion of long-term debt - (250.7 ) Total long-term debt $ 1,293.3 $ 898.4 Senior Revolving Line of Credit At September 30, 2019, September 2023. one September 30, 2019, Seni or Notes Our senior notes consist of three first March 2024, March 2014. March September September 2014. second August 2022, August 2015. February August February 2016. third March 2026, March 2019. March September September 2019. three no 1933, February 2014 January 2019. may 5, $350 3.30% August 2022. March 2019. Our financing arrangements require us to maintain certain covenants and financial ratios. We were in compliance with all covenants and financial ratios at September 30, 2019. |
Note 5 - Derivative Financial I
Note 5 - Derivative Financial Instruments | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | 5 . Derivative Financial Instruments We periodically utilize derivative instruments for hedging and non-trading purposes to manage exposure to changes in interest rates and to maintain an appropriate mix of fixed and variable-rate debt. At inception of a derivative contract, we document relationships between derivative instruments and hedged items, as well as our risk-management objective and strategy for undertaking various derivative transactions, and assess hedge effectiveness. If it is determined that a derivative is not We entered into a receive fixed-rate and pay variable-rate interest rate swap agreement simultaneously with the issuance of our $350 million of 3.30% senior notes due August 2022, $350 3.30% September 30, 2019. September 30, 2019. 7, |
Note 6 - Capital Stock
Note 6 - Capital Stock | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 6 . Capital Stock On April 20, 2017, September 30, 2019, three September 30, 2019 nine September 30, 2019. July 18, 2019, August 16, 2019, August 2, 2019. October 14, 2019, November 22, 2019, November 8, 2019. |
Note 7 - Fair Value Measurement
Note 7 - Fair Value Measurements | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 7 . Fair Value Measurements Assets and Liabilities Measured at Fair Value on a Recurring Basis Our assets and liabilities measured at fair value are based on valuation techniques which consider prices and other relevant information generated by market transactions involving identical or comparable assets and liabilities. These valuation methods are based on either quoted market prices (Level 1 2 September 30, 2019 ( Asset/(Liability) Balance September 30, 2019 December 31, 2018 Input Level Trading investments $ 19.4 $ 15.7 1 Interest rate swaps $ 2.9 $ (4.8 ) 2 Senior notes, net of unamortized discount and debt issuance costs $ (351.4 ) $ (591.3 ) 2 The fair value of trading investments has been measured using the market approach (Level 1 2 Financial Instruments The carrying amount and estimated fair value at September 30, 2019, 2 not The carrying amounts of all other instruments at September 30, 2019, |
Note 8 - Income Taxes
Note 8 - Income Taxes | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 8 . Income Taxes Our effective income tax rate was 23.9% for the three September 30, 2019, three September 30, 2018. first nine 2019, 2018. At September 30, 2019, September 30, 2019. |
Note 9 - Legal Proceedings
Note 9 - Legal Proceedings | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 9 . Legal Proceedings We were a defendant in a certain alleged class-action lawsuit in which the plaintiffs were current and former California-based employee drivers who alleged claims for unpaid wages, failure to provide meal and rest periods, and other items. We reached an agreement and recorded a reserve in September 2018 April 2019. In January 2017 May 1, 2016, October 2018 third 2018 April 2014 May 2018. December 2018 October 2018 January 2019 2016 2017 2018 fourth 2018 May 1, 2016 December 31, 2017 January 1, 2018 December 31, 2018, On October 24, 2019 third 2019 January 1, 2018 December 31, 2018 no January 1, 2019 September 30, 2019. In June 2019, We are involved in certain other claims and pending litigation arising from the normal conduct of business. Based on present knowledge of the facts and, in certain cases, opinions of outside counsel, we believe the resolution of these claims and pending litigation will not |
Note 10 - Leases
Note 10 - Leases | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 1 0 . Leases As of September 30, 2019, one not 12 Asset/(Liability) Balance September 30, 2019 Right-of-use assets $ 122.8 Lease liabilities, current $ (42.2 ) Lease liabilities, long-term $ (79.7 ) Right-of-use assets are classified in other assets in our Condensed Consolidated Balance Sheets. Operating lease liability, current is classified in other accrued expenses, while operating lease liability, long-term is classified in other long-term liabilities in our Condensed Consolidated Balance Sheets. As of September 30, 2019, September 30, 2019, Year one $ 42.8 Year two 34.2 Year three 24.2 Year four 15.2 Year five 6.4 Thereafter 8.3 Total lease payments 131.1 Less interest (9.2 ) Present value of lease liabilities $ 121.9 During the three nine September 30, 2019, third 2019, nine September 30, 2019 11, |
Note 11 - Acquisitions
Note 11 - Acquisitions | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | 11. Acquisitions On January 7, 2019, 1st February 15, 2019, February 15, 2019 ( Consideration $ 98.2 Accounts receivable 8.9 Other current assets 0.3 Property and equipment 0.8 Right-of-use assets 16.0 Intangible 45.8 Accounts payable and accrued liabilities (5.8 ) Lease liabilities (16.0 ) Goodwill $ 48.2 |
Note 12 - Goodwill and Other In
Note 12 - Goodwill and Other Intangible Assets | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | 12. Goodwill and Other Intangible Assets As discussed in Note 11, nine September 30, 2019, September 30, 2019, December 31, 2018, September 30, 2019. Weighted Average September 30, December 31, Amortization 2019 2018 Period Finite-lived intangibles: Non-competition agreements $ 6.4 $ 0.2 6.9 Customer relationships 111.1 75.3 11.6 Trade names 3.8 - 2.0 LDC Network 10.5 10.5 10.0 Total finite-lived intangibles 131.8 86.0 Less accumulated amortization (30.2 ) (20.9 ) Total identifiable intangible assets, net $ 101.6 $ 65.1 Our finite-lived intangible assets have no assigned residual values. Intangible asset amortization expense was $3.5 million during the third 2019, third 2018. nine September 30, 2019 2018, 2019, 2020, 2021 2022 2023. may |
Note 13 - Business Segments
Note 13 - Business Segments | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 1 3 . Business Segments We reported four three nine September 30, 2019 2018. 13, Segment Information 10 December 31, 2018. Assets (Excludes intercompany accounts) As of September 30, 2019 December 31, 2018 JBI $ 2,338 $ 2,221 DCS 1,878 1,595 ICS 208 212 JBT 253 307 Other (includes corporate) 709 757 Total $ 5,386 $ 5,092 Operating Revenues Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 JBI $ 1,240 $ 1,218 $ 3,477 $ 3,453 DCS 696 543 1,978 1,567 ICS 337 346 972 989 JBT 94 106 296 300 Subtotal 2,367 2,213 6,723 6,309 Inter-segment eliminations (3 ) (3 ) (8 ) (12 ) Total $ 2,364 $ 2,210 $ 6,715 $ 6,297 Operating Income Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 JBI $ 88.7 $ 120.3 $ 316.4 $ 368.6 DCS 78.3 35.0 189.0 134.0 ICS (5.6 ) 10.2 0.8 34.0 JBT 6.6 9.2 22.7 21.8 Other (includes corporate) (0.1 ) - (0.1 ) (0.1 ) Total $ 167.9 $ 174.7 $ 528.8 $ 558.3 Depreciation and Amortization Expense Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 JBI $ 45.8 $ 43.1 $ 134.9 $ 128.1 DCS 63.1 50.3 182.0 146.4 ICS 0.9 0.4 2.7 1.1 JBT 8.2 9.3 25.4 29.5 Other (includes corporate) 8.8 5.7 25.7 16.7 Total $ 126.8 $ 108.8 $ 370.7 $ 321.8 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2019 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The accompanying unaudited interim Condensed Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information. We believe such statements include all adjustments (consisting only of normal recurring adjustments) necessary for the fair presentation of our financial position, results of operations and cash flows at the dates and for the periods indicated. Pursuant to the requirements of the Securities and Exchange Commission (SEC) applicable to quarterly reports on Form 10 not not 10 December 31, 2018. not may December 31, 2019, August November |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncement In June 2016, 2016 13, January 1, 2020, not Accounting Pronouncement Adopted in 2019 In February 2016, 2016 02, 2016 02 January 1, 2019. July 2018, 2018 11, no The FASB has provided certain practical expedients in applying the standard. Of the allowed practical expedients within the standard applicable to our operations, we elected the package of practical expedients which, among other things, allowed us to carry forward the historical lease classification upon adoption of the standard. We did not not not Upon adoption of the standard, we recorded offsetting lease assets and lease liabilities resulting in a $102.4 million increase in other assets, a $32.3 million increase in other accrued expenses and a $70.1 million increase in other long-term liabilities in our Condensed Consolidated Balance Sheet, as of January 1, 2019. not |
Lessee, Leases [Policy Text Block] | Leases We recognize a right-of-use asset and a lease liability on the effective date of a lease agreement. Right-of-use assets represent our right to use an underlying asset over the lease term and lease liabilities represent the obligation to make lease payments resulting from the lease agreement. We initially record these assets and liabilities based on the present value of lease payments over the lease term calculated using our incremental borrowing rate applicable to the leased asset or the implicit rate within the agreement if it is readily determinable. Lease agreements with lease and nonlease components are combined as a single lease component. Right-of-use assets additionally include net prepaid lease expenses. Options to extend or terminate an agreement are included in the lease term when it becomes reasonably certain the option will be exercised. Leases with an initial term of 12 not |
Note 3 - Share-based Compensa_2
Note 3 - Share-based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Restricted share units: Pretax compensation expense $ 10,309 $ 7,626 $ 30,942 $ 26,061 Tax benefit 2,660 1,983 7,983 6,776 Restricted share unit expense, net of tax $ 7,649 $ 5,643 $ 22,959 $ 19,285 Performance share units: Pretax compensation expense $ 3,541 $ 3,557 $ 11,212 $ 11,123 Tax benefit 914 925 2,893 2,892 Performance share unit expense, net of tax $ 2,627 $ 2,632 $ 8,319 $ 8,231 |
Note 4 - Financing Arrangemen_2
Note 4 - Financing Arrangements (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | September 30, 2019 December 31, 2018 Senior revolving line of credit $ - $ 307.1 Senior notes 1,293.3 842.0 Less current portion of long-term debt - (250.7 ) Total long-term debt $ 1,293.3 $ 898.4 |
Note 7 - Fair Value Measureme_2
Note 7 - Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Asset/(Liability) Balance September 30, 2019 December 31, 2018 Input Level Trading investments $ 19.4 $ 15.7 1 Interest rate swaps $ 2.9 $ (4.8 ) 2 Senior notes, net of unamortized discount and debt issuance costs $ (351.4 ) $ (591.3 ) 2 |
Note 10 - Leases (Tables)
Note 10 - Leases (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Operatling Lease Assets and Liabilities [Table Text Block] | Asset/(Liability) Balance September 30, 2019 Right-of-use assets $ 122.8 Lease liabilities, current $ (42.2 ) Lease liabilities, long-term $ (79.7 ) |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Year one $ 42.8 Year two 34.2 Year three 24.2 Year four 15.2 Year five 6.4 Thereafter 8.3 Total lease payments 131.1 Less interest (9.2 ) Present value of lease liabilities $ 121.9 |
Note 11 - Acquisitions (Tables)
Note 11 - Acquisitions (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Consideration $ 98.2 Accounts receivable 8.9 Other current assets 0.3 Property and equipment 0.8 Right-of-use assets 16.0 Intangible 45.8 Accounts payable and accrued liabilities (5.8 ) Lease liabilities (16.0 ) Goodwill $ 48.2 |
Note 12 - Goodwill and Other _2
Note 12 - Goodwill and Other Intangible Assets (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | Weighted Average September 30, December 31, Amortization 2019 2018 Period Finite-lived intangibles: Non-competition agreements $ 6.4 $ 0.2 6.9 Customer relationships 111.1 75.3 11.6 Trade names 3.8 - 2.0 LDC Network 10.5 10.5 10.0 Total finite-lived intangibles 131.8 86.0 Less accumulated amortization (30.2 ) (20.9 ) Total identifiable intangible assets, net $ 101.6 $ 65.1 |
Note 13 - Business Segments (Ta
Note 13 - Business Segments (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Reconciliation of Assets from Segment to Consolidated [Table Text Block] | Assets (Excludes intercompany accounts) As of September 30, 2019 December 31, 2018 JBI $ 2,338 $ 2,221 DCS 1,878 1,595 ICS 208 212 JBT 253 307 Other (includes corporate) 709 757 Total $ 5,386 $ 5,092 |
Reconciliation of Revenue from Segments to Consolidated [Table Text Block] | Operating Revenues Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 JBI $ 1,240 $ 1,218 $ 3,477 $ 3,453 DCS 696 543 1,978 1,567 ICS 337 346 972 989 JBT 94 106 296 300 Subtotal 2,367 2,213 6,723 6,309 Inter-segment eliminations (3 ) (3 ) (8 ) (12 ) Total $ 2,364 $ 2,210 $ 6,715 $ 6,297 |
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block] | Operating Income Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 JBI $ 88.7 $ 120.3 $ 316.4 $ 368.6 DCS 78.3 35.0 189.0 134.0 ICS (5.6 ) 10.2 0.8 34.0 JBT 6.6 9.2 22.7 21.8 Other (includes corporate) (0.1 ) - (0.1 ) (0.1 ) Total $ 167.9 $ 174.7 $ 528.8 $ 558.3 |
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated [Table Text Block] | Depreciation and Amortization Expense Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 JBI $ 45.8 $ 43.1 $ 134.9 $ 128.1 DCS 63.1 50.3 182.0 146.4 ICS 0.9 0.4 2.7 1.1 JBT 8.2 9.3 25.4 29.5 Other (includes corporate) 8.8 5.7 25.7 16.7 Total $ 126.8 $ 108.8 $ 370.7 $ 321.8 |
Note 1 - General (Details Textu
Note 1 - General (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Other Assets, Noncurrent, Total | $ 162,656 | $ 38,398 | |
Other Accrued Liabilities, Current | 71,615 | 35,845 | |
Other Liabilities, Noncurrent, Total | $ 180,367 | $ 96,056 | |
Accounting Standards Update 2016-02 [Member] | |||
Other Assets, Noncurrent, Total | $ 102,400 | ||
Other Accrued Liabilities, Current | 32,300 | ||
Other Liabilities, Noncurrent, Total | $ 70,100 |
Note 2 - Earnings Per Share (De
Note 2 - Earnings Per Share (Details Textual) - shares shares in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Incremental Common Shares Attributable to Share-based Payment Arrangements, Total | 1 | 1 | 1 | 1.1 |
Note 3 - Share-based Compensa_3
Note 3 - Share-based Compensation (Details Textual) $ in Millions | 3 Months Ended | 9 Months Ended |
Sep. 30, 2019USD ($)shares | Sep. 30, 2019USD ($)shares | |
Restricted Stock Units (RSUs) [Member] | ||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ | $ 68.5 | $ 68.5 |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 3 years 3 months 18 days | |
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period | shares | 225,455 | 225,625 |
Performance Shares [Member] | ||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ | $ 16.5 | $ 16.5 |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 2 years 2 months 12 days | |
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period | shares | 75,699 | 127,140 |
Note 3 - Share-based Compensa_4
Note 3 - Share-based Compensation - Components of Share-based Compensation (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Restricted Stock Units (RSUs) [Member] | ||||
Pretax compensation expense | $ 10,309 | $ 7,626 | $ 30,942 | $ 26,061 |
Tax benefit | 2,660 | 1,983 | 7,983 | 6,776 |
Share unit expense, net of tax | 7,649 | 5,643 | 22,959 | 19,285 |
Performance Shares [Member] | ||||
Pretax compensation expense | 3,541 | 3,557 | 11,212 | 11,123 |
Tax benefit | 914 | 925 | 2,893 | 2,892 |
Share unit expense, net of tax | $ 2,627 | $ 2,632 | $ 8,319 | $ 8,231 |
Note 4 - Financing Arrangemen_3
Note 4 - Financing Arrangements (Details Textual) - USD ($) $ in Thousands | 1 Months Ended | |
Mar. 31, 2019 | Sep. 30, 2019 | |
Senior Notes [Member] | Senior Notes, First Issuance [Member] | ||
Unsecured Debt, Total | $ 250,000 | |
Debt Instrument, Interest Rate, Stated Percentage | 3.85% | |
Senior Notes [Member] | Senior Notes, Second Issuance [Member] | ||
Unsecured Debt, Total | $ 350,000 | |
Debt Instrument, Interest Rate, Stated Percentage | 3.30% | |
Senior Notes [Member] | Senior Notes, Third Issuance [Member] | ||
Unsecured Debt, Total | $ 700,000 | |
Debt Instrument, Interest Rate, Stated Percentage | 3.875% | |
Senior Notes [Member] | The 2.40% Senior Notes [Member] | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.40% | |
Repayments of Unsecured Debt | $ 250,000 | |
Revolving Credit Facility [Member] | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 750,000 | |
Line of Credit Facility, Maximum Borrowing Capacity, Optional Increase | 250,000 | |
Long-term Line of Credit, Total | $ 0 |
Note 4 - Financing Arrangemen_4
Note 4 - Financing Arrangements - Outstanding Borrowings (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Less current portion of long-term debt | $ 0 | $ (250,706) |
Long-term debt | 1,293,312 | 898,398 |
Line of Credit [Member] | ||
Long-term Debt, Total | 0 | 307,100 |
Senior Notes [Member] | ||
Long-term Debt, Total | $ 1,293,300 | $ 842,000 |
Note 5 - Derivative Financial_2
Note 5 - Derivative Financial Instruments (Details Textual) - Senior Notes, Second Issuance [Member] $ in Millions | Sep. 30, 2019USD ($) |
Fair Value Hedging [Member] | Interest Rate Swap [Member] | London Interbank Offered Rate (LIBOR) [Member] | |
Derivative, Variable Interest Rate | 3.52% |
Senior Notes [Member] | |
Unsecured Debt, Total | $ 350 |
Debt Instrument, Interest Rate, Stated Percentage | 3.30% |
Note 6 - Capital Stock (Details
Note 6 - Capital Stock (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Oct. 14, 2019 | Jul. 18, 2019 | Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Apr. 20, 2017 |
Stock Repurchase Program, Authorized Amount | $ 500,000 | ||||||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 145,000 | $ 145,000 | |||||
Treasury Stock, Shares, Acquired | 380,000 | 2,400,000 | |||||
Treasury Stock, Value, Acquired, Cost Method | $ 35,946 | $ 50,000 | $ 225,680 | $ 100,027 | |||
Common Stock, Dividends, Per Share, Declared | $ 0.26 | $ 0.26 | $ 0.24 | $ 0.78 | $ 0.72 | ||
Dividends Payable, Date to be Paid | Aug. 16, 2019 | ||||||
Dividends Payable, Date of Record | Aug. 2, 2019 | ||||||
Subsequent Event [Member] | |||||||
Common Stock, Dividends, Per Share, Declared | $ 0.26 | ||||||
Dividends Payable, Date to be Paid | Nov. 22, 2019 | ||||||
Dividends Payable, Date of Record | Nov. 8, 2019 |
Note 7 - Fair Value Measureme_3
Note 7 - Fair Value Measurements (Details Textual) - Senior Notes [Member] - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Long-term Debt, Total | $ 1,293.3 | $ 842 |
Fair Value, Recurring [Member] | ||
Long-term Debt, Total | 941.9 | |
Long-term Debt, Fair Value | $ 1,020 |
Note 7 - Fair Value Measureme_4
Note 7 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value (Details) - Fair Value, Recurring [Member] - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Fair Value, Inputs, Level 1 [Member] | ||
Trading investments | $ 19.4 | $ 15.7 |
Fair Value, Inputs, Level 2 [Member] | ||
Interest rate swaps, assets | 2.9 | |
Interest rate swaps, liabilities | (4.8) | |
Senior notes, net of unamortized discount and debt issuance costs | $ (351.4) | $ (591.3) |
Note 8 - Income Taxes (Details
Note 8 - Income Taxes (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 23.90% | 20.40% | 23.90% | 24.30% |
Unrecognized Tax Benefits, Ending Balance | $ 52.4 | $ 52.4 | ||
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 43.2 | 43.2 | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total | $ 5.3 | $ 5.3 |
Note 9 - Legal Proceedings (Det
Note 9 - Legal Proceedings (Details Textual) - USD ($) $ in Millions | Oct. 24, 2019 | Jan. 11, 2019 | Jun. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 |
Lawsuit for Claims of Unpaid Wages, Failure to Provide Meal and Rest Periods, and Other Items [Member] | |||||||
Loss Contingency, Damages Sought, Value | $ 15 | ||||||
Arbitration Case with BNSF [Member] | |||||||
Loss Contingency, Loss in Period | $ 18.3 | ||||||
Arbitration Case with BNSF [Member] | Second Interim Award by Abritrators [Member] | |||||||
Loss Contingency, Damages Awarded, Value | $ 89.4 | ||||||
Arbitration Case with BNSF [Member] | Second Interim Award by Abritrators for 2016 Period at Issue [Member] | |||||||
Loss Contingency, Damages Awarded, Value | 52.1 | ||||||
Arbitration Case with BNSF [Member] | Second Interim Award by Abritrators for 2017 [Member] | |||||||
Loss Contingency, Damages Awarded, Value | $ 37.3 | ||||||
Arbitration Case with BNSF [Member] | Interim Award, Contingent Liabilities for Period of May 1, 2016 through December 31, 2017 [Member] | |||||||
Loss Contingency, Loss in Period | $ 89.4 | ||||||
Arbitration Case with BNSF [Member] | Interim Award, Contingent Liabilities for Period of January 1, 2018 through December 31, 2018 [Member] | |||||||
Loss Contingency, Loss in Period | 44.6 | ||||||
Arbitration Case with BNSF [Member] | Interim Award, Contingent Liabilities for Period of May 1, 2016 through December 31, 2018 [Member] | |||||||
Loss Contingency, Loss in Period | $ 134 | ||||||
Arbitration Case with BNSF [Member] | Final Award for Period Of January 1, 2018 Through December 31, 2018 [Member] | |||||||
Loss Contingency, Loss in Period | $ 26.8 | ||||||
Arbitration Case with BNSF [Member] | Final Award for Period Of January 1, 2018 Through December 31, 2018 [Member] | Subsequent Event [Member] | |||||||
Loss Contingency, Loss in Period | $ 44.2 | ||||||
Arbitration Case with BNSF [Member] | Final Award for Period Of January 1, 2018 Through December 31, 2018 [Member] | Legal Fees, Cost and Interest [Member] | Subsequent Event [Member] | |||||||
Loss Contingency, Loss in Period | $ 17.4 | ||||||
Casualty Claim [Member] | Settled Litigation [Member] | DCS [Member] | |||||||
Loss Contingency, Loss in Period | $ 20 |
Note 10 - Leases (Details Textu
Note 10 - Leases (Details Textual) - USD ($) $ in Millions | Feb. 15, 2019 | Sep. 30, 2019 | Sep. 30, 2019 |
Operating Lease, Weighted Average Remaining Lease Term | 4 years 2 months 12 days | 4 years 2 months 12 days | |
Operating Lease, Weighted Average Discount Rate, Percent | 3.50% | 3.50% | |
Operating Lease, Payments | $ 12.1 | $ 32.7 | |
Operating Lease, Expense | 11.8 | 31.8 | |
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | $ 8.7 | $ 48.2 | |
Cory 1st Choice Home Delivery [Member] | |||
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | $ 16 |
Note 10 - Leases - Operating Le
Note 10 - Leases - Operating Lease Assets and Liabilities (Details) $ in Millions | Sep. 30, 2019USD ($) |
Right-of-use assets | $ 122.8 |
Lease liabilities, current | (42.2) |
Lease liabilities, long-term | $ (79.7) |
Note 10 - Leases - Future Minim
Note 10 - Leases - Future Minimum Lease Payments (Details) $ in Millions | Sep. 30, 2019USD ($) |
Year one | $ 42.8 |
Year two | 34.2 |
Year three | 24.2 |
Year four | 15.2 |
Year five | 6.4 |
Thereafter | 8.3 |
Total lease payments | 131.1 |
Less interest | (9.2) |
Present value of lease liabilities | $ 121.9 |
Note 11 - Acquisitions (Details
Note 11 - Acquisitions (Details Textual) - USD ($) $ in Millions | Feb. 15, 2019 | Sep. 30, 2019 | Dec. 31, 2018 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 45.8 | ||
Goodwill, Ending Balance | 48.2 | $ 88.3 | $ 40.1 |
Cory 1st Choice Home Delivery [Member] | |||
Business Combination, Consideration Transferred, Total | 100 | ||
Payments to Acquire Businesses, Gross | 98.2 | ||
Business Combination, Acquisition Related Costs | 2.9 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 45.8 | ||
Goodwill, Ending Balance | $ 48.2 |
Note 11 - Acquisitions - Purcha
Note 11 - Acquisitions - Purchase Price Allocation (Details) - USD ($) $ in Millions | Feb. 15, 2019 | Sep. 30, 2019 | Dec. 31, 2018 |
Intangible | $ 45.8 | ||
Goodwill | 48.2 | $ 88.3 | $ 40.1 |
Cory 1st Choice Home Delivery [Member] | |||
Consideration | 98.2 | ||
Accounts receivable | 8.9 | ||
Other current assets | 0.3 | ||
Property and equipment | 0.8 | ||
Right-of-use assets | 16 | ||
Intangible | 45.8 | ||
Accounts payable and accrued liabilities | (5.8) | ||
Lease liabilities | (16) | ||
Goodwill | $ 48.2 |
Note 12 - Goodwill and Other _3
Note 12 - Goodwill and Other Intangible Assets (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Feb. 15, 2019 | Dec. 31, 2018 | |
Goodwill, Ending Balance | $ 88,300 | $ 88,300 | $ 48,200 | $ 40,100 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 45,800 | |||||
Goodwill, Impairment Loss | 0 | |||||
Acquired Finite-lived Intangible Asset, Residual Value | 0 | 0 | ||||
Amortization of Intangible Assets, Total | 3,500 | $ 2,200 | 9,200 | $ 6,500 | ||
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year | 12,400 | 12,400 | ||||
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 12,700 | 12,700 | ||||
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 11,200 | 11,200 | ||||
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 10,800 | 10,800 | ||||
Finite-Lived Intangible Assets, Amortization Expense, Year Five | $ 10,800 | $ 10,800 |
Note 12 - Goodwill and Other _4
Note 12 - Goodwill and Other Intangible Assets - Identifiable Intangible Assets (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2019 | Dec. 31, 2018 | |
Finite-lived intangible assets, gross | $ 131.8 | $ 86 |
Less accumulated amortization | (30.2) | (20.9) |
Total identifiable intangible assets, net | 101.6 | 65.1 |
Noncompete Agreements [Member] | ||
Finite-lived intangible assets, gross | $ 6.4 | 0.2 |
Weighted average amortization period (Year) | 6 years 10 months 24 days | |
Customer Relationships [Member] | ||
Finite-lived intangible assets, gross | $ 111.1 | 75.3 |
Weighted average amortization period (Year) | 11 years 7 months 6 days | |
Trade Names [Member] | ||
Finite-lived intangible assets, gross | $ 3.8 | 0 |
Weighted average amortization period (Year) | 2 years | |
LDC Network Access [Member] | ||
Finite-lived intangible assets, gross | $ 10.5 | $ 10.5 |
Weighted average amortization period (Year) | 10 years |
Note 13 - Business Segments (De
Note 13 - Business Segments (Details Textual) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Number of Reportable Segments | 4 | 4 | 4 | 4 |
Note 13 - Business Segments - A
Note 13 - Business Segments - Assets (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Assets | $ 5,386,337 | $ 5,091,647 |
Operating Segments [Member] | JBI [Member] | ||
Assets | 2,338,000 | 2,221,000 |
Operating Segments [Member] | DCS [Member] | ||
Assets | 1,878,000 | 1,595,000 |
Operating Segments [Member] | ICS [Member] | ||
Assets | 208,000 | 212,000 |
Operating Segments [Member] | JBT [Member] | ||
Assets | 253,000 | 307,000 |
Corporate and Reconciling Items [Member] | ||
Assets | $ 709,000 | $ 757,000 |
Note 13 - Business Segments - O
Note 13 - Business Segments - Operating Revenues (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Revenues | $ 2,363,660 | $ 2,209,760 | $ 6,714,934 | $ 6,297,032 |
Operating Segments [Member] | ||||
Revenues | 2,367,000 | 2,213,000 | 6,723,000 | 6,309,000 |
Intersegment Eliminations [Member] | ||||
Revenues | (3,000) | (3,000) | (8,000) | (12,000) |
JBI [Member] | Operating Segments [Member] | ||||
Revenues | 1,240,000 | 1,218,000 | 3,477,000 | 3,453,000 |
DCS [Member] | Operating Segments [Member] | ||||
Revenues | 696,000 | 543,000 | 1,978,000 | 1,567,000 |
ICS [Member] | Operating Segments [Member] | ||||
Revenues | 337,000 | 346,000 | 972,000 | 989,000 |
JBT [Member] | Operating Segments [Member] | ||||
Revenues | $ 94,000 | $ 106,000 | $ 296,000 | $ 300,000 |
Note 13 - Business Segments -_2
Note 13 - Business Segments - Operating Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Operating income | $ 167,862 | $ 174,688 | $ 528,750 | $ 558,282 |
JBI [Member] | Operating Segments [Member] | ||||
Operating income | 88,700 | 120,300 | 316,400 | 368,600 |
DCS [Member] | Operating Segments [Member] | ||||
Operating income | 78,300 | 35,000 | 189,000 | 134,000 |
ICS [Member] | Operating Segments [Member] | ||||
Operating income | (5,600) | 10,200 | 800 | 34,000 |
JBT [Member] | Operating Segments [Member] | ||||
Operating income | 6,600 | 9,200 | 22,700 | 21,800 |
Corporate and Reconciling Items [Member] | ||||
Operating income | $ (100) | $ 0 | $ (100) | $ (100) |
Note 13 - Business Segments - D
Note 13 - Business Segments - Depreciation and Amortization (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Depreciation and amortization | $ 126,803 | $ 108,801 | $ 370,728 | $ 321,807 |
Corporate and Reconciling Items [Member] | ||||
Depreciation and amortization | 8,800 | 5,700 | 25,700 | 16,700 |
JBI [Member] | Operating Segments [Member] | ||||
Depreciation and amortization | 45,800 | 43,100 | 134,900 | 128,100 |
DCS [Member] | Operating Segments [Member] | ||||
Depreciation and amortization | 63,100 | 50,300 | 182,000 | 146,400 |
ICS [Member] | Operating Segments [Member] | ||||
Depreciation and amortization | 900 | 400 | 2,700 | 1,100 |
JBT [Member] | Operating Segments [Member] | ||||
Depreciation and amortization | $ 8,200 | $ 9,300 | $ 25,400 | $ 29,500 |