Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | |||||
Dec. 31, 2017 | Feb. 23, 2018 | Dec. 31, 2016 | Jun. 30, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Document Information [Line Items] | ||||||
Entity Registrant Name | HEARTLAND EXPRESS INC | |||||
Entity Central Index Key | 799,233 | |||||
Document Type | 10-K | |||||
Document Period End Date | Dec. 31, 2017 | |||||
Document Fiscal Year Focus | 2,017 | |||||
Document Fiscal Period Focus | FY | |||||
Current Fiscal Year End Date | --12-31 | |||||
Entity Well-known Seasoned Issuer | Yes | |||||
Entity Voluntary Filers | No | |||||
Entity Current Reporting Status | Yes | |||||
Amendment Flag | false | |||||
Entity Filer Category | Large Accelerated Filer | |||||
Entity Common Stock, Shares Outstanding | 83,312,159 | |||||
Unvested at beginning of year, Number of Restricted Stock Awards (in shares) | 53,700 | 40,250 | 53,000 | 102,400 | 183,100 | |
Entity Public Float | $ 998,226,892 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2017 | Jul. 06, 2017 | Dec. 31, 2016 |
CURRENT ASSETS | |||
Cash and cash equivalents | $ 75,378 | $ 128,507 | |
Trade receivables, net | 64,293 | 46,844 | |
Prepaid tires | 10,989 | 8,181 | |
Other current assets | 13,782 | $ 2,426 | 13,841 |
Income tax receivable | 6,393 | 4,738 | |
Total current assets | 170,835 | 202,111 | |
PROPERTY AND EQUIPMENT | |||
Land and land improvements | 40,283 | 39,356 | |
Buildings | 48,657 | 48,371 | |
Leasehold improvements | 2,208 | 1,703 | |
Furniture and fixtures | 3,437 | 2,096 | |
Shop and service equipment | 12,202 | 11,009 | |
Revenue equipment | 555,980 | 556,464 | |
Construction in progress | 3,996 | 54 | |
Property and equipment, gross | 666,763 | 659,053 | |
Less accumulated depreciation | 223,901 | 251,405 | |
Property and equipment, net | 442,862 | 71,964 | 407,648 |
Goodwill | 132,410 | 32,198 | 100,212 |
OTHER INTANGIBLES, NET | 17,022 | 12,090 | |
Deferred Income Tax Assets, Net | 1,737 | 3,785 | |
OTHER ASSETS | 24,261 | 1,244 | 12,382 |
Assets | 789,127 | 157,079 | 738,228 |
CURRENT LIABILITIES | |||
Accounts payable and accrued liabilities | 14,366 | 12,355 | |
Compensation and benefits | 26,752 | 23,320 | |
Insurance accruals | 21,368 | 19,132 | |
Other accruals | 12,835 | $ 596 | 10,727 |
Total current liabilities | 75,321 | 65,534 | |
LONG-TERM LIABILITIES | |||
Income taxes payable | 8,147 | 11,954 | |
Deferred income taxes, net | 65,488 | 94,657 | |
Insurance accruals less current portion | 65,526 | 60,257 | |
Total long-term liabilities | 139,161 | 166,868 | |
COMMITMENTS AND CONTINGENCIES (Note 13) | |||
STOCKHOLDERS' EQUITY | |||
Preferred stock, par value $.01; authorized 5,000 shares; none issued | 0 | 0 | |
Capital stock, common, $.01 par value; authorized 395,000 shares; issued 90,689 in 2017 and 2016; outstanding 83,303 and 83,287 in 2017 and 2016, respectively | 907 | 907 | |
Additional paid-in capital | 3,518 | 3,433 | |
Retained earnings | 694,174 | 625,668 | |
Treasury stock, at cost; 7,386 and 7,402 shares in 2017 and 2016, respectively | (123,954) | (124,182) | |
Stockholders' Equity Attributable to Parent | 574,645 | 505,826 | |
Liabilities and Stockholders' Equity | $ 789,127 | $ 738,228 |
Consolidated Balance Sheets Par
Consolidated Balance Sheets Parentheticals - $ / shares shares in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Consolidated Balance Sheets Parentheticals [Abstract] | ||
Preferred Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 |
Preferred Stock, Shares Authorized | 5,000 | 5,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Common Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 |
Common Stock, Shares Authorized | 395,000 | 395,000 |
Common Stock, Shares, Issued | 90,689 | 90,689 |
Common Stock, Shares, Outstanding | 83,303 | 83,287 |
Treasury Stock, Shares | 7,386 | 7,402 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
OPERATING REVENUE | $ 607,336 | $ 612,937 | $ 736,345 |
Operating Expenses | |||
Salaries, wages and benefits | 236,872 | 231,980 | 277,318 |
Rent and purchased transportation | 30,002 | 23,485 | 34,489 |
Fuel | 104,381 | 91,494 | 123,714 |
Operations and maintenance | 29,609 | 26,159 | 34,025 |
Operating taxes and licenses | 16,615 | 15,559 | 18,095 |
Insurance and claims | 18,850 | 24,449 | 21,618 |
Communications and utilities | 5,781 | 4,485 | 6,001 |
Depreciation and amortization | 103,690 | 105,578 | 110,973 |
Other operating expenses | 24,666 | 13,385 | 28,572 |
Gain on disposal of property and equipment | (26,674) | (9,205) | (35,040) |
Total operating expenses | 543,792 | 527,369 | 619,765 |
Operating income | 63,544 | 85,568 | 116,580 |
Interest income | 1,129 | 481 | 210 |
Interest expense | (175) | 0 | (19) |
Income before income taxes | 64,498 | 86,049 | 116,771 |
Federal and state income tax (benefit) expense | (10,675) | 29,663 | 43,715 |
Net income | 75,173 | 56,386 | 73,056 |
Other comprehensive income, net of tax | 0 | 0 | 0 |
Comprehensive income | $ 75,173 | $ 56,386 | $ 73,056 |
Net income per share | |||
Basic | $ 0.90 | $ 0.68 | $ 0.84 |
Diluted | $ 0.90 | $ 0.68 | $ 0.84 |
Weighted average shares outstanding | |||
Basic | 83,298 | 83,297 | 86,974 |
Diluted | 83,336 | 83,365 | 87,109 |
Dividends declared per share | $ 0.08 | $ 0.08 | $ 0.08 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Total | Capital Stock, Common | Additional Paid-in Capital | Retained Earnings | Treasury Stock |
Balance at Dec. 31, 2014 | $ 476,587 | $ 907 | $ 4,058 | $ 509,834 | $ (38,212) |
Net income | 73,056 | 0 | 0 | 73,056 | 0 |
Dividends on common stock | (6,942) | 0 | 0 | (6,942) | 0 |
Stock-based compensation, net of tax | 1,251 | 0 | 68 | 0 | 1,183 |
Stock Repurchased During Period, Value | (74,024) | 0 | 0 | 0 | (74,024) |
Balance at Dec. 31, 2015 | 469,928 | 907 | 4,126 | 575,948 | (111,053) |
Net income | 56,386 | 0 | 0 | 56,386 | 0 |
Dividends on common stock | (6,666) | 0 | 0 | (6,666) | 0 |
Stock-based compensation, net of tax | 856 | 0 | (693) | 0 | 1,549 |
Stock Repurchased During Period, Value | (14,678) | 0 | 0 | 0 | (14,678) |
Balance at Dec. 31, 2016 | 505,826 | 907 | 3,433 | 625,668 | (124,182) |
Net income | 75,173 | 0 | 0 | 75,173 | 0 |
Dividends on common stock | (6,667) | 0 | 0 | (6,667) | 0 |
Stock-based compensation, net of tax | 313 | 0 | 85 | 0 | 228 |
Balance at Dec. 31, 2017 | $ 574,645 | $ 907 | $ 3,518 | $ 694,174 | $ (123,954) |
Consolidated Statement of Stock
Consolidated Statement of Stockholders' Equity Parentheticals - $ / shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Dividends declared per share | $ 0.08 | $ 0.08 | $ 0.08 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
OPERATING ACTIVITIES | |||
Net income | $ 75,173 | $ 56,386 | $ 73,056 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 103,905 | 105,580 | 111,848 |
Deferred income taxes | (27,121) | (4,584) | 8,618 |
Stock-based Compensation | 511 | 0 | 0 |
Amortization of stock-based compensation, net of tax | 0 | 856 | 1,251 |
Gain on disposal of property and equipment | (26,674) | (9,205) | (35,040) |
Changes in certain working capital items: | |||
Trade receivables | 15,239 | 14,165 | 16,025 |
Prepaid expenses and other current assets | 860 | 5,017 | 4,301 |
Accounts payable, accrued liabilities, and accrued expenses | (26,893) | (11,063) | 202 |
Accrued income taxes | (5,462) | (1,371) | 10,211 |
Net cash provided by operating activities | 109,538 | 155,781 | 190,472 |
INVESTING ACTIVITIES | |||
Proceeds from sale of property and equipment | 147,578 | 57,280 | 148,792 |
Purchases of property and equipment, net of trades | (184,114) | (86,088) | (217,253) |
Payments for (Proceeds from) Delayed Tax Exempt Exchange | 4,843 | (9,335) | 0 |
Acquisition of business, net of cash acquired | (86,728) | 0 | 0 |
Change in designated funds for claims liabilities | (13,899) | 0 | 0 |
Change in other assets | (179) | (1,019) | 1,248 |
Net cash (used in) provided by investing activities | (132,499) | (39,162) | (67,213) |
FINANCING ACTIVITIES | |||
Cash dividends paid | (6,667) | (6,666) | (6,942) |
Shares withheld for employee taxes related to stock-based compensation | (198) | 0 | 0 |
Repayments of Lines of Credit | (23,303) | 0 | (24,600) |
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | 0 | 0 | (1,764) |
Repurchases of common stock | 0 | (14,678) | (74,024) |
Net cash used in financing activities | (30,168) | (21,344) | (107,330) |
Net (decrease) increase in cash and cash equivalents | (53,129) | 95,275 | 15,929 |
CASH AND CASH EQUIVALENTS | |||
Beginning of period | 128,507 | 33,232 | 17,303 |
End of period | 75,378 | 128,507 | 33,232 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION | |||
Interest paid | 153 | 0 | 40 |
Cash paid during the period for income taxes, net of refunds | 21,909 | 35,537 | 24,701 |
Noncash investing and financing activities: | |||
Purchased property and equipment in accounts payable | 3,387 | 63 | 1,217 |
Sold revenue equipment in other current assets | $ 869 | $ 160 | $ 0 |
Significant Accounting Policies
Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2017 | |
Significant Accounting Policies [Abstract] | |
Significant Accounting Policies | Significant Accounting Policies Nature of Business Heartland Express, Inc. is a holding company incorporated in Nevada, which owns all of the stock of Heartland Express, Inc. of Iowa, Heartland Express Services, Inc., Heartland Express Maintenance Services, Inc., and A & M Express, Inc. For the period November 11, 2013 to July 1, 2016, the Company also operated Gordon Trucking, Inc. ("GTI"), which was merged into Heartland Express, Inc. of Iowa effective July 1, 2016. On July 6th, 2017, Heartland Express, Inc. of Iowa acquired Interstate Distributor Co. ("IDC"), which was subsequently merged into Heartland Express, Inc. of Iowa effective October 1, 2017. We, together with our subsidiaries, are a short-to-medium haul truckload carrier (predominately 500 miles or less per load). We primarily provide nationwide asset-based dry van truckload service for major shippers from Washington to Florida and New England to California. Principles of Consolidation The accompanying consolidated financial statements include the parent company, Heartland Express, Inc., and its subsidiaries, all of which are wholly owned. All material intercompany items and transactions have been eliminated in consolidation. Use of Estimates The preparation of the consolidated financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Segment Information We provide truckload services across the United States (U.S.) and parts of Canada. These truckload services are primarily asset-based transportation services in the dry van truckload market, and we also offer truckload temperature-controlled transportation services and non-asset based brokerage services, neither of which are significant to our operations. We exited our non-asset-based freight brokerage business in the first quarter of 2017, however due to the acquisition of IDC we acquired and again operated a non-asset-based freight brokerage business from the date of acquisition until the termination of this business during the fourth quarter of 2017. Our Chief Operating Decision Maker oversees and manages all of our transportation services, on a combined basis, including previously acquired entities. As a result of the foregoing, we have determined that we have one segment, consistent with the authoritative accounting guidance on disclosures about segments of an enterprise and related information. Cash and Cash Equivalents Cash equivalents are short-term, highly liquid investments with insignificant interest rate risk and original maturities of three months or less at acquisition. At December 31, 2017 and 2016 , restricted and designated cash and investments totaled $30.7 million and $21.7 million , respectively. At December 31, 2017 , $7.9 million was included in other current assets and $22.8 million was included in other non-current assets in the consolidated balance sheets. At December 31, 2016 $9.3 million was included in other non-current assets and $12.4 million was included in other non-current assets in the consolidated balance sheets. The restricted and designated funds represent deposits required by state agencies for self-insurance purposes and funds that are earmarked for a specific purpose and not for general business use. Investments Municipal bonds of $1.4 million and $1.4 million at December 31, 2017 and 2016 , respectively, are stated at amortized cost, are classified as held-to-maturity and are included in restricted cash in other non-current assets. Investment income received on held-to-maturity investments is generally exempt from federal income taxes and is recognized as earned. Trade Receivables and Allowance for Doubtful Accounts Revenue is recognized when freight is delivered. Credit terms for customer accounts are typically on a net 30 day basis. We use our write off history and our knowledge of uncollectible accounts in estimating the allowance for bad debts. We review the adequacy of our allowance for doubtful accounts on a monthly basis. We are aggressive in our collection efforts resulting in a low number of write-offs annually. Conditions that would lead an account to be considered uncollectible include customers filing bankruptcy and the exhaustion of all practical collection efforts. We will use the necessary legal recourse to recover as much of the receivable as is practical under the law. Allowance for doubtful accounts was $1.5 million and $1.5 million at December 31, 2017 and 2016 , respectively. Prepaid Tires, Property, Equipment, and Depreciation Property and equipment are reported at cost, net of accumulated depreciation. Maintenance and repairs are charged to operations as incurred. Tires are capitalized separately from revenue equipment and are reported separately as “Prepaid tires” in the consolidated balance sheets and amortized over two years . Depreciation expense of $0.2 million and $0.0 million for the years ended December 31, 2017 and 2016 , respectively, has been included in communications and utilities in the consolidated statements of comprehensive income. Depreciation for financial statement purposes is computed by the straight-line method for all assets other than tractors. We recognize depreciation expense on tractors at 125% declining balance method. New tractors are depreciated to salvage values of $15,000 , while new trailers are depreciated to salvage values of $4,000 . Lives of the assets are as follows: Years Land improvements and buildings 5-30 Leasehold improvements 5-25 Furniture and fixtures 3-5 Shop and service equipment 3-10 Revenue equipment 5-7 Impairment of Long-Lived Assets We periodically evaluate property and equipment and amortizable intangible assets for impairment upon the occurrence of events or changes in circumstances that indicate the carrying amount of assets may not be recoverable. Recoverability of assets to be held and used is evaluated by a comparison of the carrying amount of an asset group to future net undiscounted cash flows expected to be generated by the group. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount over which the carrying amount of the assets exceeds the fair value of the assets. There were no impairment charges recognized during the years ended December 31, 2017 , 2016 , and 2015 . Fair Value of Financial Instruments The fair values of cash and cash equivalents, trade receivables, held-to-maturity investments and accounts payable, which are recorded at cost, approximate fair value based on the short-term nature and high credit quality of these financial instruments. Advertising Costs We expense all advertising costs as incurred. Advertising costs are included in other operating expenses in the consolidated statements of comprehensive income. Advertising expense was $2.0 million , $2.1 million , and $3.1 million for the years ended December 31, 2017 , 2016 , and 2015 , respectively. Goodwill Goodwill is not subject to amortization and is tested for impairment annually and whenever events or changes in circumstances indicate that impairment may have occurred. The Company performs its annual impairment test as of September 30. The Company first assesses qualitative factors to determine whether it is more likely than not (that is, a likelihood of more than 50%) that the fair value of our reporting unit is less than its carrying amount, including goodwill. If, after assessing qualitative factors, the Company determines that it is more likely than not that the fair value of our reporting unit is less than its carrying amount, then a two-step impairment test is performed to identify potential goodwill impairment and measure the amount of goodwill impairment loss to be recognized, if any. As of September 30, 2017, the Company’s assessment of qualitative factors informed its conclusion that a goodwill impairment did not occur. The significant qualitative factors considered include an increase in the Company’s share price and continued strong cash flow. Our reporting unit had fair value significantly in excess of its carrying value. Management determined that no impairment charge was required for the years ended December 31, 2017 , 2016 , and 2015 . Other Intangibles, Net Other intangibles, net consists primarily of a tradename, covenants not to compete, and customer relationships. All intangible assets determined to have finite lives are amortized over their estimated useful lives. The useful life of an intangible asset is the period over which the asset is expected to contribute directly or indirectly to future cash flows. We periodically evaluate amortizable intangible assets for impairment upon occurrence of events or changes in circumstances that indicate the carrying amount of intangible assets may not be recoverable. Management determined that no impairment charge was required for the years ended December 31, 2017 , 2016 , and 2015 . See Note 4 for additional information regarding intangible assets. Contingent Consideration During the contingent consideration periods related to the acquisition of GTI which ended December, 31, 2017, we estimated and recorded the acquisition date estimated fair value of contingent consideration as part of purchase price consideration for acquisitions. During each reporting period, we estimated changes in the fair value of contingent consideration, and any change in fair value was recognized in the consolidated statements of comprehensive income. An increase in the earn-out expected to be paid in connection with an acquisition resulted in a charge to operations in the year that the anticipated fair value of contingent consideration increased, while a decrease in the earn-out expected to be paid resulted in a credit to operations in the year that the anticipated fair value of contingent consideration decreased. The estimates of the fair value of contingent consideration required assumptions to be made in regards to future operating results, discount rates, and probabilities assigned to various potential operating result scenarios which are now known as of December 31, 2017. Insurance Accruals We are self-insured for auto liability, cargo loss and damage, bodily injury and property damage ("BI/PD"), and workers’ compensation. Insurance accruals reflect the estimated cost of claims, including estimated loss and loss adjustment expenses incurred but not reported, and not covered by insurance. Accident and workers’ compensation accruals are based upon individual case estimates, including reserve development, and estimates of incurred-but-not-reported losses based upon our own historical experience and industry claim trends. Insurance accruals are not discounted. The cost of cargo and BI/PD insurance and claims are included in insurance and claims expense, while the costs of workers’ compensation insurance and claims are included in salaries, wages, and benefits in the consolidated statements of comprehensive income. Insurance accruals are presented as either current or non-current in the consolidated balance sheets based on our expectation of when payment will occur. Health insurance accruals reflect the estimated cost of health related claims, including estimated expenses incurred but not reported. The cost of health insurance and claims are included in salaries, wages and benefits in the consolidated statements of comprehensive income. Health insurance accruals of $7.0 million and $5.5 million are included in other accruals in the consolidated balance sheets as of December 31, 2017 and 2016 , respectively. Revenue and Expense Recognition Revenue is generally recognized when freight is delivered. Revenue is estimated for multiple-stop loads based on the number of miles run prior to the end of the accounting period. Revenue associated with loads delivered but not billed as of the end of an accounting period is estimated as part of revenue for that period. Fuel surcharge revenue charged to customers and freight brokerage services on freight brokered to third party carriers are earned consistent with the timing of freight revenues and included in operating revenue in the consolidated statements of comprehensive income. Fuel surcharge revenues were $72.5 million , $58.4 million , and $91.8 million for the years ended December 31, 2017 , 2016 , and 2015 , respectively, and are included in operating revenue in the consolidated statement of comprehensive income. Revenue associated with freight brokerage services are recognized on a gross basis and as freight is delivered, as the Company is the primary obligor, although revenues are not material to the Company's consolidated operations and these services were ended prior to December 31, 2017 . Driver wages and other direct operating expenses are recognized when freight is delivered and are estimated for multiple-stop loads at the end of an accounting period. Stock-Based Compensation We have a stock-based compensation plan that provides for the grants of restricted stock awards to our employees. We account for restricted stock awards using the fair value method of accounting for stock-based compensation. Issuances of stock upon vesting of restricted stock are made from treasury stock. Compensation expense for restricted stock grants is recognized over the requisite service period of each award and is included in salaries, wages and benefits in the consolidated statements of comprehensive income. Total compensation of $8.8 million related to all awards granted under the program is being amortized over the requisite service period for each separate vesting period as if the award is, in substance, multiple awards between 2011 and 2021. Earnings per Share Basic earnings per share are based upon the weighted average common shares outstanding during each year. Diluted earnings per share is based on the basic weighted earnings per share with additional weighted common shares for common stock equivalents. During the years ended December 31, 2017 , 2016 , and 2015 , we granted restricted shares of common stock to certain of our employees under the Company's 2011 Restricted Stock Award Plan. A reconciliation of the numerator (net income) and denominator (weighted average number of shares outstanding) of the basic and diluted earnings per share (“EPS”) for 2017 , 2016 , and 2015 is as follows (in thousands, except per share data): 2017 Net Income (numerator) Shares (denominator) Per Share Amount Basic EPS $ 75,173 83,298 $ 0.90 Effect of restricted stock — 38 Diluted EPS $ 75,173 83,336 $ 0.90 2016 Net Income (numerator) Shares (denominator) Per Share Amount Basic EPS $ 56,386 83,297 $ 0.68 Effect of restricted stock — 68 Diluted EPS $ 56,386 83,365 $ 0.68 2015 Net Income (numerator) Shares (denominator) Per Share Amount Basic EPS $ 73,056 86,974 $ 0.84 Effect of restricted stock — 135 Diluted EPS $ 73,056 87,109 $ 0.84 Income Taxes We use the asset and liability method of accounting for income taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statements carrying amount of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Such amounts are adjusted, as appropriate, to reflect changes in tax rates expected to be in effect when the temporary differences reverse. The effect of a change in tax rates on deferred taxes is recognized in the period that the change is enacted. We have not recorded a valuation allowance against any deferred tax assets at December 31, 2017 and 2016 . In management’s opinion, it is more likely than not that we will be able to utilize these deferred tax assets in future periods as a result of our history of profitability, taxable income, and reversal of deferred tax liabilities. On December 22, 2017, the US Congress enacted the Tax Act, which made significant changes to US federal income tax law, including a reduction in the federal corporate tax rate to 21 % effective January 1, 2018. Under US GAAP, we are required to recognize the effect of a rate change on deferred tax assets and liabilities in the period in which the tax rate change is enacted. Therefore, the rate change enacted by the Tax Act resulted in the recognition of a deferred tax benefit of $32.8 million at December 31, 2017. Pursuant to the authoritative accounting guidance on income taxes, when establishing a valuation allowance, we consider future sources of taxable income such as “future reversals of existing taxable temporary differences and carry-forwards” and “tax planning strategies”. In the event we determine that the deferred tax assets will not be realized in the future, the valuation adjustment to the deferred tax assets is charged to earnings or accumulated other comprehensive loss based on the nature of the asset giving rise to the deferred tax asset and the facts and circumstances resulting in that conclusion. We calculate our current and deferred tax provision based on estimates and assumptions that could differ from the actual results reflected in income tax returns filed in subsequent years. Adjustments based on filed returns are recorded when identified. We recognize the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. We record interest and penalties related to unrecognized tax benefits in income tax expense. New Accounting Pronouncements On December 22, 2017, the SEC issued Staff Accounting Bulletin (“SAB 118”), which provides guidance on accounting for tax effects of the Tax Act. SAB 118 provides a measurement period that should not extend beyond one year from the Tax Act enactment date for companies to complete the accounting under ASC 740. In accordance with SAB 118, a company must reflect the income tax effects of those aspects of the Tax Act for which the accounting under ASC 740 is complete. To the extent that a company’s accounting for certain income tax effects of the Tax Act is incomplete but it is able to determine a reasonable estimate, it must record a provisional estimate to be included in the financial statements. If a company cannot determine a provisional estimate to be included in the financial statements, it should continue to apply ASC 740 on the basis of the provision of the tax laws that were in effect immediately before the enactment of the Tax Act. Management has evaluated the relevant provisions of the Tax Act to the Company and accounted for the impacts on a provisional basis in the financial statements as of December 31, 2017. The provisional amount is subject to change based on how states conform to the Tax Act, as that information is not readily available for many states at this time. Any revisions to the estimated impacts of the Tax Act will be recorded quarterly until the computations are complete, which is expected to be no later than the fourth quarter of 2018. In May 2017, the Financial Accounting Standards Boards (FASB) issued ASU 2017-09, "Compensation-Stock Compensation (Topic 718): Scope of Modification Accounting," to provide clarity and reduce diversity and complexity of applying the accounting guidance in Topic 718 to a change in the terms or conditions of a share-based payment award. An entity should account for the effects of a modification unless certain criteria are met. The provisions of this update are effective for interim and annual periods beginning after December 15, 2017, with early adoption permitted. Based on our initial assessment, we believe the impact of adoption of the standard will not have a material impact on our financial statements and we expect to adopt this standard prospectively for interim and annual periods beginning January 1, 2018. In January 2017, the FASB issued ASU 2017-04, “Simplifying the Test for Goodwill Impairment,” which continues to require an entity to review indicators for impairment, perform qualitative assessments, and analyze the fair value of a reporting unit as compared to the carrying value of goodwill for potential impairment but eliminates or replaces additional tests and assessments within the prior guidance. The provisions of this update are effective for fiscal years beginning after December 15, 2019, with early adoption permitted for impairment measurement tests occurring after January 1, 2017. Based on our initial assessment, we believe the impact of adoption of the standard will not have a material impact on our financial statements but we have not yet identified our adoption date. In November 2016, the FASB issued ASU 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash,” which requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash. The provisions of this update are effective for fiscal years beginning after December 15, 2017. Based on our assessment and current levels of restricted cash following the acquisition of IDC, we intend to include and explain the change in restricted cash upon adoption of the standard for periods after January 1, 2018. Further ASU 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments,” which addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. The provisions of this update are effective for fiscal years beginning after December 15, 2017. Based on our assessment, we believe the impact of adoption of the standard will not have a material impact on our consolidated cash flows and intend to adopt this standard as of January 1, 2018. In June 2016, the FASB issued ASU 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments". This update requires measurement and recognition of expected versus incurred credit losses for financial assets held. ASU 2016-13 is effective for annual periods beginning after December 15, 2019, and interim periods therein. Based on our initial assessment, we believe the impact of adoption of the standard will not have a material impact on our financial statements. In March 2016, the FASB issued ASU 2016-09, "Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting". This update seeks to simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows. This update was effective for the Company beginning January 1, 2017 and was adopted accordingly, including forfeitures being recorded as incurred, during the quarter ended March 31, 2017 and for future periods. The adoption did not have a material impact on our financial statements and prior periods presented have not been adjusted. In February 2016, the FASB issued ASU 2016-02, "Leases". This update seeks to increase the transparency and comparability among entities by requiring public entities to recognize lease assets and lease liabilities on the balance sheet and disclose key information about leasing arrangements. To satisfy the standard’s objective, a lessee will recognize a right-of-use asset representing its right to use the underlying asset for the lease term and a lease liability for the obligation to make lease payments. Both the right-of-use asset and lease liability will initially be measured at the present value of the lease payments, with subsequent measurement dependent on the classification of the lease as either a finance or an operating lease. For leases with a term of twelve months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. If a lessee makes this election, it should recognize lease expense for such leases generally on a straight-line basis over the lease term. In transition, lessees are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. The modified retrospective approach includes a number of optional practical expedients that companies may elect to apply. These practical expedients relate to the identification and classification of leases that commenced before the effective date, initial direct costs for leases that commenced before the effective date, and the ability to use hindsight in evaluating lessee options to extend or terminate a lease or to purchase the underlying asset. The transition guidance also provides specific guidance for sale and leaseback transactions, build-to-suit leases, leveraged leases, and amounts previously recognized in accordance with the business combinations guidance for leases. The new standard is effective for public companies for annual periods beginning after December 15, 2018, and interim periods within those years, with early adoption permitted. We continue to assess the materiality of the expected adoption of this guidance to our operations. The magnitude of our operating leases increased on July 6th, 2017, when we acquired 100% of the outstanding stock of IDC, but has declined as we terminated certain leases. We expect to complete an updated assessment and select a transition method by January 1, 2019, our expected date of transition. In May 2014, the FASB issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606), which will replace numerous requirements in U.S. GAAP, including industry-specific requirements, and provide companies with a single revenue recognition model for recognizing revenue from contracts with customers. The core principle of the new standard is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The two permitted transition methods under the new standard are the full retrospective method, in which case the standard would be applied to each prior reporting period presented and the cumulative effect of applying the standard would be recognized at the earliest period shown, or the modified retrospective method, in which case the cumulative effect of applying the standard would be recognized at the date of initial application. In July 2015, the FASB approved the deferral of the new standard's effective date by one year. The new standard is effective for annual reporting periods beginning after December 15, 2017 with early adoption permitted. We have been closely monitoring FASB activity related to the new standard and are evaluating the effect that the new guidance will have on our consolidated financial statements and related disclosures. We have performed an analysis of our revenue transactions across our operations before and after the acquisition of IDC on July 6, 2017, and based on that assessment we believe that our adoption will not have a material impact on our operating revenue or operating income as a short-to-medium haul truckload carrier (predominately 500 miles or less per load). We have selected and intend to implement the cumulative-effect transition method at January 1, 2018, our date of transition. |
Concentrations of Credit Risk a
Concentrations of Credit Risk and Major Customers | 12 Months Ended |
Dec. 31, 2017 | |
Concentrations of Credit Risk and Major Customers [Abstract] | |
Concentration of Credit Risk and Major Customers | Concentrations of Credit Risk and Major Customers Our major customers represent primarily the consumer goods, appliances, food products and automotive industries. Credit is granted to customers on an unsecured basis. Our five largest customers accounted for approximately 38% , 40% , and 36% of operating revenues for the years ended December 31, 2017 , 2016 , and 2015 , respectively. Our five largest customers accounted for approximately 32% and 41% of gross accounts receivable as of December 31, 2017 and 2016 , respectively. There was one customer that accounted for more than 10% of operating revenues for the year ended December 31, 2017 at 12.6% . This customer had accounts receivable of $7.5 million as of December 31, 2017 . One customer accounted for more than 10% of operating revenues at 12.3% for the same period ended 2016 , and no customer accounted for more than 10% of operating revenues in 2015 . |
Acquisition of Interstate Distr
Acquisition of Interstate Distributor Co. (Notes) | 12 Months Ended |
Dec. 31, 2017 | |
Business Combinations [Abstract] | |
Business Combination Disclosure [Text Block] | Acquisition of Interstate Distributor Co. On July 6, 2017, Heartland Express Inc., of Iowa, (the "Buyer"), a wholly owned subsidiary of the "Company”, acquired IDC, a Washington corporation, for $93.0 million payable in cash, net of approximately $6.3 million of cash acquired. We believe the acquisition of IDC allowed us to grow our base of drivers and enhance our supporting staff of employees, expand and diversify our customer base, and improve our operating network of terminal facilities. In accordance with Internal Revenue Code Section 1361(b)(3)(C)(ii)(I) and (II), the transaction was treated for tax purposes as a sale of the assets of IDC by the seller to the Buyer, immediately followed by the Buyer’s contribution of such assets to IDC under Internal Revenue Code Section 351. The Stock Purchase Agreement contains customary representations, warranties, covenants, and indemnification provisions. IDC was subsequently merged into the Buyer effective October 1, 2017. Acquisition related expenses of $0.9 million are included in the consolidated statement of comprehensive income for the year ended December 31, 2017 , respectively. The following unaudited pro forma financial information for the years ended December 31, 2016 and December 31, 2017 , assume that the acquisition of IDC occurred as of January 1, 2016. Pro forma adjustments reflected in the financial information below relate to accounting policy changes such as changes in depreciation expense of revenue equipment, amortization of intangible assets, and accounting for certain operations and maintenance costs, along with other adjustments for terminal rent expense to align IDC results with those of the Company and income tax effects for the periods presented. The net effect of these pro forma adjustments increased net income by $3.9 million and $5.7 million for the periods ended December 31, 2016 and December 31, 2017, respectively. Year ended Year ended December 31, 2016 December 31, 2017 (in thousands) Operating revenue $ 938,007 $ 756,498 Net income $ 54,222 $ 72,752 These pro forma amounts do not purport to be indicative of the results that would have actually been obtained if the acquisition had occurred at the beginning of the periods presented or that may be obtained in the future. The allocation of the purchase price is detailed in the table below, only general representations and warranty items as defined in the stock purchase agreement are subject to further negotiations. The goodwill recognized represents expected synergies from combining the operations of the Company with IDC, as well as other intangible assets that did not meet the criteria for separate recognition. All goodwill recognized in the transaction is deductible for tax purposes over 15 years. The assets and liabilities associated with IDC were recorded at their fair values as of the acquisition date and the amounts are as follows: (in thousands) Cash and cash equivalents $ 6,316 Trade and other accounts receivable 35,131 Other current assets 2,426 Property and equipment 71,964 Other non-current assets 1,244 Intangible assets 7,800 Goodwill 32,198 Total assets 157,079 Accounts payable, accrued expenses, and current portion of long-term debt (35,209 ) Insurance accruals (10,826 ) Long-term debt (17,404 ) Other accruals (596 ) Total consideration transferred $ 93,044 TOTAL PURCHASE PRICE CONSIDERATION (in thousands) Cash paid pursuant to Stock Purchase Agreement $ 93,044 Cash acquired included in historical book value of IDC assets and liabilities (6,316 ) Net cash paid $ 86,728 |
Business Acquisition, Pro Forma Information [Text Block] | TOTAL PURCHASE PRICE CONSIDERATION (in thousands) Cash paid pursuant to Stock Purchase Agreement $ 93,044 Cash acquired included in historical book value of IDC assets and liabilities (6,316 ) Net cash paid $ 86,728 Year ended Year ended December 31, 2016 December 31, 2017 (in thousands) Operating revenue $ 938,007 $ 756,498 Net income $ 54,222 $ 72,752 |
Intangible Assets and Goodwill
Intangible Assets and Goodwill | 12 Months Ended |
Dec. 31, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets and Goodwill | Intangible Assets and Goodwill The following tables summarize the intangible assets subject to amortization for the years ended December 31, 2017 and December 31, 2016 . 2017 Amortization period (years) Gross Amount Accumulated Amortization Net intangible assets (in thousands) Customer relationships 20 $ 13,600 $ 1,645 $ 11,955 Tradename 0.5-6 8,100 5,769 2,331 Covenants not to compete 1-10 4,200 1,464 2,736 $ 25,900 $ 8,878 $ 17,022 2016 Amortization period (years) Gross Amount Accumulated Amortization Net intangible assets (in thousands) Customer relationships 20 $ 7,600 $ 1,187 $ 6,413 Tradename 6 7,400 3,854 3,546 Covenants not to compete 10 3,100 969 2,131 $ 18,100 $ 6,010 $ 12,090 Amortization expense for the twelve months ended December 31, 2017 and 2016 was $2.9 million and $1.9 million , respectively, and was included in depreciation and amortization in the consolidated statements of comprehensive income. Future amortization expense for intangible assets is estimated at $2.5 million for 2018, $2.2 million for 2019, $1.2 million for 2020, and $1.2 million for 2021, and $1.1 million for 2022. Changes in carrying amount of goodwill were as follows: (in thousands) Balance at December 31, 2016 $ 100,212 Acquisition 32,198 Balance at December 31, 2017 $ 132,410 |
Long-Term Debt (Notes)
Long-Term Debt (Notes) | 12 Months Ended |
Dec. 31, 2017 | |
Debt Disclosure [Abstract] | |
Line of Credit and Long Term Debt | Long-Term Debt In November 2013, we entered into a Credit Agreement with Wells Fargo Bank, National Association, (the “Bank”). Pursuant to the Credit Agreement, the Bank provided a five-year, $250.0 million unsecured revolving line of credit, which was used to assist in the repayment of all debt acquired at the time of acquisition, and which may be used for future working capital, equipment financing, and general corporate purposes. The Bank's commitment decreased to $175.0 million on November 1, 2016 through October 31, 2018. The Credit Agreement is unsecured, with a negative pledge against all assets of our consolidated group, except for debt associated with permitted acquisitions, new purchase-money debt and capital lease obligations as described in the Credit Agreement. The Credit Agreement matures on October 31, 2018, and may be terminated without penalty. Borrowings under the Credit Agreement can either be, at the Borrower's election, (i) one-month or three-month LIBOR (Index) plus 0.625% , floating, or (ii) Prime (Index) plus 0% , floating. The weighted average variable annual percentage rate is not calculated since no amounts were borrowed and outstanding at December 31, 2017 . There is a commitment fee on the unused portion of the line of credit under the Credit Agreement at 0.0625% , due monthly. The Credit Agreement contains customary financial covenants measured quarterly including, but not limited to, (i) a maximum adjusted leverage ratio of 2 :1, (ii) required minimum net income of $1.00 , and (iii) required minimum tangible net worth of $175.0 million . The Credit Agreement also includes customary events of default, covenants, representations and warranties, and indemnification provisions. We were in compliance with the respective financial covenants at December 31, 2017 . We had no long term debt outstanding at December 31, 2017 or 2016. Debt acquired during the acquisition of IDC on July 6, 2017 was repaid prior to September 30, 2017. Outstanding letters of credit associated with the revolving line of credit at December 31, 2017 were $3.7 million compared to $5.5 million at December 31, 2016 . As of December 31, 2017 , availability for future borrowing under the Credit Agreement was $171.3 million compared to $169.5 million at December 31, 2016 . |
Accident and Workers' Compensat
Accident and Workers' Compensation Insurance Liabilities | 12 Months Ended |
Dec. 31, 2017 | |
Accident and Workers' Compensation Insurance Liabilities [Abstract] | |
Accident and Workers' Compensation Insurance Liabilities | Accident and Workers’ Compensation Insurance Accruals We act as a self-insurer for auto liability involving property damage, personal injury, or cargo based on defined insurance retention of $0.5 million or $2.0 million for any individual claim based on the insured party and circumstances of the loss event. Liabilities in excess of these amounts are covered by insurance up to $100.0 million . We retain any liability in excess of $100.0 million . We act as a self-insurer for property damage to our tractors and trailers. We act as a self-insurer for workers’ compensation liability of $0.5 million or $1.0 million for any individual claim based on the insured party and circumstances of the loss event. Liabilities in excess of this amount are covered by insurance. The State of Iowa initially required us to deposit $0.7 million into a trust fund as part of the self-insurance program. Earnings on this account become part of the required deposit and as of December 31, 2017 and December 31, 2016 total deposits in this account were $1.4 million . This deposit is in municipal bonds classified as held-to-maturity and is recorded in other non-current assets on the consolidated balance sheets. The State of Washington required us to deposit funds into a trust as part of the self insurance program. As of December 31, 2017 and 2016 , $0.0 million and $0.6 million , respectively, of deposits were recorded in other non-current assets on the consolidated balance sheets. In addition, we have provided insurance carriers with letters of credit totaling approximately $6.8 million in connection with our liability and workers’ compensation insurance arrangements and self-insurance requirements of the Federal Motor Carrier Safety Administration. There were no outstanding balances due on any letters of credit at December 31, 2017 or 2016 . Accident and workers’ compensation accruals include the estimated settlements, settlement expenses and an estimate for claims incurred but not yet reported for property damage, personal injury and public liability losses from vehicle accidents and cargo losses as well as workers’ compensation claims for amounts not covered by insurance. Accident and workers’ compensation accruals are based upon individual case estimates, including reserve development, and estimates of incurred-but-not-reported losses based upon our own historical experience and industry claim trends. Since the reported liability is an estimate, the ultimate liability may be more or less than reported. If adjustments to previously established accruals are required, such amounts are included in operating expenses in the current period. These accruals are recorded on an undiscounted basis. Estimated claim payments to be made within one year of the balance sheet date have been classified as insurance accruals within current liabilities as of December 31, 2017 and 2016 . |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes On December 22, 2017, the US Congress enacted the Tax Act, which made significant changes to US federal income tax law, including a reduction in the federal corporate tax rate to 21 % effective January 1, 2018. Under US GAAP, we are required to recognize the effect of a rate change on deferred tax assets and liabilities in the period in which the tax rate change is enacted. Therefore, the rate change enacted by the Tax Reform Legislation resulted in the recognition of a deferred tax benefit of $32.8 million at December 31, 2017. On December 22, 2017, the SEC issued Staff Accounting Bulletin (“SAB 118”), which provides guidance on accounting for tax effects of the Tax Act. SAB 118 provides a measurement period that should not extend beyond one year from the Tax Act enactment date for companies to complete the accounting under ASC 740. In accordance with SAB 118, a company must reflect the income tax effects of those aspects of the Tax Act for which the accounting under ASC 740 is complete. To the extent that a company’s accounting for certain income tax effects of the Tax Act is incomplete but it is able to determine a reasonable estimate, it must record a provisional estimate to be included in the financial statements. If a company cannot determine a provisional estimate to be included in the financial statements, it should continue to apply ASC 740 on the basis of the provision of the tax laws that were in effect immediately before the enactment of the Tax Act. Management has evaluated the relevant provisions of the Tax Act to the Company and accounted for the impacts on a provisional basis in the financial statements as of December 31, 2017. The provisional amount is subject to change based on how states conform to the Tax Act, as that information is not readily available for many states at this time. Any revisions to the estimated impacts of the Tax Act will be recorded quarterly until the computations are complete, which is expected to be no later than the fourth quarter of 2018. Deferred tax assets and liabilities as of December 31 are as follows: 2017 2016 (in thousands) Deferred income tax assets: Allowance for doubtful accounts $ 515 $ 559 Accrued expenses 6,550 9,275 Stock-based compensation 156 254 Insurance accruals 18,225 29,190 State net operating loss carryforward 237 451 Indirect tax benefits of unrecognized tax benefits 1,278 3,334 Other — 2 Total gross deferred tax assets 26,961 43,065 Less valuation allowance — — Net deferred tax assets 26,961 43,065 Deferred income tax liabilities: Property and equipment (81,322 ) (122,367 ) Goodwill (7,984 ) (9,857 ) Prepaid expenses (1,406 ) (1,713 ) (90,712 ) (133,937 ) Net deferred tax liability $ (63,751 ) $ (90,872 ) The deferred tax amounts above have been classified in the accompanying consolidated balance sheets at December 31, 2017 and 2016 as follows: 2017 2016 (in thousands) Noncurrent assets, net $ 1,737 $ 3,785 Long-term liabilities, net (65,488 ) (94,657 ) $ (63,751 ) $ (90,872 ) We have not recorded a valuation allowance against any deferred tax assets at December 31, 2017 and 2016 . In management’s opinion, it is more likely than not that we will be able to utilize these deferred tax assets in future periods as a result of our history of profitability, taxable income, and reversal of deferred tax liabilities. Income tax expense consists of the following: 2017 2016 2015 (in thousands) Current income taxes: Federal $ 17,997 $ 34,664 $ 33,364 State (1,495 ) 454 2,703 16,502 35,118 36,067 Deferred income taxes: Federal (28,020 ) (5,291 ) 5,170 State 843 (164 ) 2,478 (27,177 ) (5,455 ) 7,648 Total $ (10,675 ) $ 29,663 $ 43,715 The income tax provision differs from the amount determined by applying the U.S. federal tax rate as follows: 2017 2016 2015 (in thousands) Federal tax at statutory rate (35%) $ 22,574 $ 30,117 $ 40,870 State taxes, net of federal benefit 178 1,135 4,022 Non-taxable interest income (7 ) (7 ) (6 ) Uncertain income tax penalties and interest, net (1,208 ) (1,473 ) (1,006 ) Enacted federal tax rate change (32,789 ) — — Other 577 (109 ) (165 ) $ (10,675 ) $ 29,663 $ 43,715 At December 31, 2017 and December 31, 2016 , we had a total of $5.8 million and $8.8 million in gross unrecognized tax benefits, respectively, included in long-term income taxes payable in the consolidated balance sheets. Of this amount, $4.8 million and $5.7 million represents the amount of unrecognized tax benefits that, if recognized, would impact our effective tax rate as of December 31, 2017 and December 31, 2016 , respectively. Unrecognized tax benefits were a net decrease of $2.9 million and $2.8 million during the years ended December 31, 2017 and 2016 , respectively, due mainly to the expiration of certain statutes of limitation net of additions and settlements with respective states. This had the effect of reducing the effective state tax rate during these respective periods. The total net amount of accrued interest and penalties for such unrecognized tax benefits was $2.3 million and $3.2 million at December 31, 2017 and December 31, 2016 , respectively, and is included in income taxes payable in the consolidated balance sheets. Net interest and penalties included in income tax expense for the years ended December 31, 2017 , 2016 and 2015 was a benefit of approximately $0.9 million , $1.5 million , and $1.0 million respectively. Income tax expense is increased each period for the accrual of interest on outstanding positions and penalties when the uncertain tax position is initially recorded. Income tax expense is reduced in periods by the amount of accrued interest and penalties associated with reversed uncertain tax positions due to lapse of applicable statute of limitations, when applicable or when a position is settled. Income tax expense was reduced during the years ended December 31, 2017 , 2016 and 2015 due to reversals of interest and penalties due to lapse of applicable statute of limitations and settlements, net of additions for interest and penalty accruals during the same period. These unrecognized tax benefits relate to risks associated with state income tax filing positions for our corporate subsidiaries. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: 2017 2016 (in thousands) Balance at January 1, $ 8,751 $ 11,569 Additions based on tax positions related to current year 135 592 Additions for tax positions of prior years — — Reductions for tax positions of prior years (331 ) (108 ) Reductions due to lapse of applicable statute of limitations (2,699 ) (3,302 ) Settlements (17 ) — Balance at December 31, $ 5,839 $ 8,751 A number of years may elapse before an uncertain tax position is audited and ultimately settled. It is difficult to predict the ultimate outcome or the timing of resolution for uncertain tax positions. It is reasonably possible that the amount of unrecognized tax benefits could significantly increase or decrease within the next twelve months. These changes could result from the expiration of the statute of limitations, examinations or other unforeseen circumstances. We do not have any outstanding litigation related to tax matters. At this time, management’s best estimate of the reasonably possible change in the amount of gross unrecognized tax benefits is a decrease of approximately $2.2 million to a decrease of $3.2 million during the next twelve months, mainly due to the expiration of certain statute of limitations, net of additions. The federal statute of limitations remains open for the years 2014 and forward. Tax years 2007 and forward are subject to audit by state tax authorities depending on the tax code and administrative practice of each state. |
Operating Leases Operating Leas
Operating Leases Operating Leases | 12 Months Ended |
Dec. 31, 2017 | |
Leases [Abstract] | |
Operating Leases | Operating Leases We have operating leases for certain revenue equipment during the periods presented related to the GTI and IDC acquisitions. A portion of these leases in 2016 and 2015 were with a commercial tractor dealership, which is partially owned by one of our board members. Rent expense for these leases, including lease termination payments made at the end of 2017, was $8.0 million , $1.0 million , and $3.3 million , for the years ended December 31, 2017 , 2016 , and 2015 , respectively, and were included in rent and purchased transportation in the consolidated statements of comprehensive income. The rent expense for these leases included related-party rental expense totaling $1.0 million , and $3.0 million for the years ended December 31, 2016 and 2015. A portion of the leases acquired from IDC were terminated during 2017 and the leases acquired from GTI were terminated in 2016. We lease certain terminal facilities under operating leases. A portion of these leases are with limited liability companies, whose members include one of our board members, and a commercial tractor dealership whose owners include one of our board members. The related-party rental payments were entered into as a result of a previous acquisition. Rent expense for terminal facilities were $3.9 million , $2.2 million , and $3.9 million , (including related-party rental expense totaling $1.6 million , $1.9 million , and $3.6 million ), for the years ended December 31, 2017 , 2016 , and 2015 , respectively, and was included in rent and purchased transportation in the consolidated statements of comprehensive income. The various leases expire between 2018 and 2020. A portion of these leases contain purchase options and options to renew, except the Pacific, Washington location. We have renewal options and a right of first refusal on the sale of the Pacific, Washington location property. We exercised our purchase option on the Pontoon Beach, Illinois; Rancho Cucamonga, California; Boise, Idaho; and Medford, Oregon terminals and completed these transactions during 2015 . In 2015 , we paid $21.6 million to various limited liability companies, whose members include one of our board members, as a result of these transactions. We are responsible for all taxes, insurance, and utilities related to the terminal leases. As of December 31, 2017 , we did not have any capital lease obligations. Future minimum lease payments related to the operating leases described above, as of December 31, 2017 , are as follows: Amounts (in thousands) Related Party Non-Related Party Total 2018 $ 1,451 $ 11,590 13,041 2019 — 9,227 9,227 2020 — 6,268 6,268 2021 — 5,699 5,699 Thereafter — 10,167 10,167 Total $ 1,451 $ 42,951 $ 44,402 See Note 12 for additional information regarding related party transactions. |
Stockholders' Equity
Stockholders' Equity | 12 Months Ended |
Dec. 31, 2017 | |
Share Repurchases [Abstract] | |
Stockholders' Equity | Equity We have a stock repurchase program with 3.3 million shares remaining authorized for repurchase as of December 31, 2017 . There were no shares repurchased in the open market during the year ended December 31, 2017 , 0.9 million in 2016 , and 3.8 million shares were repurchased during 2015 . Repurchases are expected to continue from time to time, as determined by market conditions, cash flow requirements, securities law limitations, and other factors, until the number of shares authorized have been repurchased, or until the authorization is terminated. The share repurchase authorization is discretionary and has no expiration date. During the years ended December 31, 2017 , 2016 and 2015 our Board of Directors declared regular quarterly dividends totaling $6.7 million , $6.7 million , and $6.9 million for each year, respectively. Future payment of cash dividends and the amount of such dividends will depend upon our financial conditions, our results of operations, our cash requirements, our tax treatment, and certain corporate law requirements, as well as factors deemed relevant by our Board of Directors. |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Dec. 31, 2017 | |
Stock-Based Compensation [Abstract] | |
Stock Based Compensation | Stock-Based Compensation In July 2011, a Special Meeting of Stockholders of Heartland Express, Inc. was held, at which meeting the approval of the Heartland Express, Inc. 2011 Restricted Stock Award Plan (the “Plan”) was ratified. The Plan is administered by the Compensation Committee of our Board of Directors. Per the terms of the awards, employees receiving awards will have all of the rights of a stockholder with respect to the unvested restricted shares including, but not limited to, the right to receive such cash dividends, if any, as may be declared on such shares from time to time and the right to vote such shares at any meeting of our stockholders. The Plan made available up to 0.9 million shares for the purpose of making restricted stock grants to our eligible officers and employees. Shares granted in 2013 through 2017 have various vesting terms that range from immediate to four years from the date of grant. Once vested, there are no other restrictions on the awards. Compensation expense associated with these awards is based on the market value of our stock on the grant date. Our market closing price ranged between $13.86 and $18.18 on the various grant dates for the shares granted in 2013. The Company's market close price ranged between $21.72 and $27.47 on the various grant dates during 2014, ranged between $19.93 and $27.29 on the various grant dates during 2015 , ranged between $17.06 and $18.78 on the various grant dates during 2016 , and ranged between $20.53 and $23.37 on the various grant dates during 2017 . There were no significant assumptions made in determining the fair value. Compensation expense associated with restricted stock awards is included in salaries, wages and benefits in the consolidated statements of comprehensive income. Compensation expense associated with restricted stock awards was $0.5 million , $1.3 million , and $1.2 million for the years ended December 31, 2017 , 2016 , and 2015 , respectively. Unrecognized compensation expense was $0.6 million at December 31, 2017 which will be recognized over a weighted average period of 1.2 years . The following table summarizes our restricted stock award activity for the years ended December 31, 2017 , 2016 and 2015 . The vesting dates for the awards vested in 2017 occurred relatively evenly throughout the first half of the year ended December 31, 2017 . The fair value of awards vested during 2017 , 2016 and 2015 was $0.6 million , $2.0 million and $1.6 million , respectively. 2017 Number of Restricted Stock Awards (in thousands) Weighted Average Grant Date Fair Value Unvested at beginning of year 53.0 $ 21.53 Granted 27.0 22.98 Vested (25.3 ) 22.07 Forfeited (1.0 ) 17.11 Outstanding (unvested) at end of year 53.7 $ 21.82 2016 Number of Restricted Stock Awards (in thousands) Weighted Average Grant Date Fair Value Unvested at beginning of year 102.4 $ 18.36 Granted 74.0 17.27 Vested (122.2 ) 16.21 Forfeited (1.2 ) 22.21 Outstanding (unvested) at end of year 53.0 $ 21.53 2015 Number of Restricted Stock Awards (in thousands) Weighted Average Grant Date Fair Value Unvested at beginning of year 183.1 $ 16.78 Granted 17.9 20.92 Vested (98.6 ) 16.49 Forfeited — — Outstanding (unvested) at end of year 102.4 $ 18.36 |
Profit Sharing Plan and Retirem
Profit Sharing Plan and Retirement Plan | 12 Months Ended |
Dec. 31, 2017 | |
Profit Sharing Plan and Retirement Plan [Abstract] | |
Profit Sharing Plan and Retirement Plan | Profit Sharing Plan and Retirement Plan We have retirement savings plans (the “Retirement Savings Plans”) for substantially all employees who have completed one year of service and are 19 years of age or older. Employees may make 401(k) contributions subject to Internal Revenue Code limitations. The Retirement Savings Plans provide for a discretionary profit sharing contribution to non-driver employees and a matching contribution of a discretionary percentage to driver employees ("Heartland Plan"). Also, we acquired Retirement Saving Plans providing for discretionary matching contributions to driver and non-driver employees in our acquisition of GTI ("GTI Plan") and IDC ("IDC Plan"). The GTI Plan was merged into the Heartland Plan on July 1, 2016 and the IDC Plan was merged into the Heartland Plan on October 1, 2017. Our profit sharing contributions the Retirement Savings Plans totaled approximately $1.8 million , $1.7 million , and $2.1 million , for the years ended December 31, 2017 , 2016 and 2015 , respectively. |
Related Party
Related Party | 12 Months Ended |
Dec. 31, 2017 | |
Related Party [Abstract] | |
Related Party | Related Party Transactions We lease terminal facilities for operations under operating leases from certain limited liability companies, whose members include one of our board members, and a commercial tractor dealership whose owners include one of our board members. The terminal facility leases have initial five year terms, purchase options and options to renew excluding the lease for Pacific, Washington location. The Pacific, Washington location contains lease renewal options and a right of first refusal on any sale of the property. We have purchased tractors from the commercial tractor dealership noted above. We also had operating leases for certain revenue equipment with the commercial tractor dealership and have purchased parts and services from the same commercial tractor dealership. We owed this commercial tractor dealership $0.1 million and $0.1 million , which were included in accounts payable and accrued liabilities in the consolidated balance sheet at December 31, 2017 and 2016 , for parts and service delivered but not paid for prior to December 31, 2017 and 2016 , respectively. The related payments (receipts) with related parties for the years ended December 31, 2017 , 2016 , and 2015 were as follows: December 31, 2017 December 31, 2016 December 31, 2015 (in thousands) Payments for tractor purchases $ — $ 4,300 $ 58,599 Receipts for tractor sales — — (38,064 ) Receipts for trailer sales (12 ) (108 ) (28 ) Revenue equipment lease payments — 813 3,223 Payments for parts and services 650 1,300 4,346 Terminal lease payments 1,625 1,849 3,408 Terminal purchase option payments — — 21,555 $ 2,263 $ 8,154 $ 53,039 |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies We are a party to ordinary, routine litigation and administrative proceedings incidental to our business. In the opinion of management, our potential exposure under pending legal proceedings is adequately provided for in the accompanying consolidated financial statements. As part of a previous acquisition in 2013, we entered into an agreement with certain stockholders of the selling company ("Sellers"), which contained contingent consideration provisions. The contingent consideration included various earn-out targets tied to certain operational metrics of the acquired company as well as consolidated operational performance over the period of 2014 through 2017. Based on the operating results of the Company through the earnout period and the terms of the agreement, there are no amounts owed and recorded as current or long-term liabilities at December 31, 2017 or 2016 . The total estimated purchase commitments for tractors, net of tractor sale commitments, and trailer equipment, at December 31, 2017 , was $89.0 million . |
Quarterly Financial Information
Quarterly Financial Information (Unaudited) | 12 Months Ended |
Dec. 31, 2017 | |
Quarterly Financial Information (Unaudited) [Abstract] | |
Quarterly Financial Information (Unaudited) | Quarterly Financial Information (Unaudited) First Second Third Fourth (In Thousands, Except Per Share Data) Year ended December 31, 2017 Operating revenue $ 129,903 $ 129,616 $ 182,114 $ 165,703 Operating income 19,363 21,313 12,999 9,869 Income before income taxes 19,651 21,737 13,062 10,048 Net income 14,036 14,616 7,916 38,605 Net income per share, basic 0.17 0.18 0.10 0.45 Net income per share, diluted 0.17 0.18 0.09 0.45 Year ended December 31, 2016 Operating revenue $ 162,786 $ 160,791 $ 149,316 $ 140,044 Operating income 20,250 24,507 19,913 20,898 Income before income taxes 20,325 24,616 20,037 21,071 Net income 14,377 16,368 12,527 13,114 Net income per share, basic 0.17 0.20 0.15 0.16 Net income per share, diluted 0.17 0.20 0.15 0.16 |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2017 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | Subsequent Events No events occurred requiring disclosure. |
Schedule II Valuation of Qualif
Schedule II Valuation of Qualifying Accounts and Reserves | 12 Months Ended |
Dec. 31, 2017 | |
Schedule II Valuation and Qualifying Accounts and Reserves [Abstract] | |
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS AND RESERVES (In Thousands, Except Per Share Data) Column C Column A Column B Charges To Column D Column E Balance At Cost Balance Beginning And Other At End Description of Period Expense Accounts Deductions of Period Allowance for doubtful accounts: Year ended December 31, 2017 $ 1,475 $ — $ — $ — $ 1,475 Year ended December 31, 2016 1,475 — — — 1,475 Year ended December 31, 2015 1,262 318 — 105 1,475 See accompanying Report of Independent Registered Public Accounting Firm. |
Significant Accounting Polici24
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Significant Accounting Policies [Abstract] | |
Nature of Operations [Text Block] | Nature of Business Heartland Express, Inc. is a holding company incorporated in Nevada, which owns all of the stock of Heartland Express, Inc. of Iowa, Heartland Express Services, Inc., Heartland Express Maintenance Services, Inc., and A & M Express, Inc. For the period November 11, 2013 to July 1, 2016, the Company also operated Gordon Trucking, Inc. ("GTI"), which was merged into Heartland Express, Inc. of Iowa effective July 1, 2016. On July 6th, 2017, Heartland Express, Inc. of Iowa acquired Interstate Distributor Co. ("IDC"), which was subsequently merged into Heartland Express, Inc. of Iowa effective October 1, 2017. We, together with our subsidiaries, are a short-to-medium haul truckload carrier (predominately 500 miles or less per load). We primarily provide nationwide asset-based dry van truckload service for major shippers from Washington to Florida and New England to California. |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The accompanying consolidated financial statements include the parent company, Heartland Express, Inc., and its subsidiaries, all of which are wholly owned. All material intercompany items and transactions have been eliminated in consolidation. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of the consolidated financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Segment Reporting, Policy [Policy Text Block] | Segment Information We provide truckload services across the United States (U.S.) and parts of Canada. These truckload services are primarily asset-based transportation services in the dry van truckload market, and we also offer truckload temperature-controlled transportation services and non-asset based brokerage services, neither of which are significant to our operations. We exited our non-asset-based freight brokerage business in the first quarter of 2017, however due to the acquisition of IDC we acquired and again operated a non-asset-based freight brokerage business from the date of acquisition until the termination of this business during the fourth quarter of 2017. Our Chief Operating Decision Maker oversees and manages all of our transportation services, on a combined basis, including previously acquired entities. As a result of the foregoing, we have determined that we have one segment, consistent with the authoritative accounting guidance on disclosures about segments of an enterprise and related information. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents Cash equivalents are short-term, highly liquid investments with insignificant interest rate risk and original maturities of three months or less at acquisition. At December 31, 2017 and 2016 , restricted and designated cash and investments totaled $30.7 million and $21.7 million , respectively. At December 31, 2017 , $7.9 million was included in other current assets and $22.8 million was included in other non-current assets in the consolidated balance sheets. At December 31, 2016 $9.3 million was included in other non-current assets and $12.4 million was included in other non-current assets in the consolidated balance sheets. The restricted and designated funds represent deposits required by state agencies for self-insurance purposes and funds that are earmarked for a specific purpose and not for general business use. |
Marketable Securities, Held-to-maturity Securities, Policy [Policy Text Block] | Investments Municipal bonds of $1.4 million and $1.4 million at December 31, 2017 and 2016 , respectively, are stated at amortized cost, are classified as held-to-maturity and are included in restricted cash in other non-current assets. Investment income received on held-to-maturity investments is generally exempt from federal income taxes and is recognized as earned. |
Trade and Other Accounts Receivable, Policy [Policy Text Block] | Trade Receivables and Allowance for Doubtful Accounts Revenue is recognized when freight is delivered. Credit terms for customer accounts are typically on a net 30 day basis. We use our write off history and our knowledge of uncollectible accounts in estimating the allowance for bad debts. We review the adequacy of our allowance for doubtful accounts on a monthly basis. We are aggressive in our collection efforts resulting in a low number of write-offs annually. Conditions that would lead an account to be considered uncollectible include customers filing bankruptcy and the exhaustion of all practical collection efforts. We will use the necessary legal recourse to recover as much of the receivable as is practical under the law. Allowance for doubtful accounts was $1.5 million and $1.5 million at December 31, 2017 and 2016 , respectively. |
Property, Plant and Equipment, Policy [Policy Text Block] | Prepaid Tires, Property, Equipment, and Depreciation Property and equipment are reported at cost, net of accumulated depreciation. Maintenance and repairs are charged to operations as incurred. Tires are capitalized separately from revenue equipment and are reported separately as “Prepaid tires” in the consolidated balance sheets and amortized over two years . Depreciation expense of $0.2 million and $0.0 million for the years ended December 31, 2017 and 2016 , respectively, has been included in communications and utilities in the consolidated statements of comprehensive income. Depreciation for financial statement purposes is computed by the straight-line method for all assets other than tractors. We recognize depreciation expense on tractors at 125% declining balance method. New tractors are depreciated to salvage values of $15,000 , while new trailers are depreciated to salvage values of $4,000 . Lives of the assets are as follows: Years Land improvements and buildings 5-30 Leasehold improvements 5-25 Furniture and fixtures 3-5 Shop and service equipment 3-10 Revenue equipment 5-7 |
Property, Plant and Equipment, Impairment [Policy Text Block] | Impairment of Long-Lived Assets We periodically evaluate property and equipment and amortizable intangible assets for impairment upon the occurrence of events or changes in circumstances that indicate the carrying amount of assets may not be recoverable. Recoverability of assets to be held and used is evaluated by a comparison of the carrying amount of an asset group to future net undiscounted cash flows expected to be generated by the group. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount over which the carrying amount of the assets exceeds the fair value of the assets. There were no impairment charges recognized during the years ended December 31, 2017 , 2016 , and 2015 . |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments The fair values of cash and cash equivalents, trade receivables, held-to-maturity investments and accounts payable, which are recorded at cost, approximate fair value based on the short-term nature and high credit quality of these financial instruments. |
Advertising Cost, Policy, Expensed Advertising Cost [Policy Text Block] | Advertising Costs We expense all advertising costs as incurred. Advertising costs are included in other operating expenses in the consolidated statements of comprehensive income. Advertising expense was $2.0 million , $2.1 million , and $3.1 million for the years ended December 31, 2017 , 2016 , and 2015 , respectively. |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Goodwill Goodwill is not subject to amortization and is tested for impairment annually and whenever events or changes in circumstances indicate that impairment may have occurred. The Company performs its annual impairment test as of September 30. The Company first assesses qualitative factors to determine whether it is more likely than not (that is, a likelihood of more than 50%) that the fair value of our reporting unit is less than its carrying amount, including goodwill. If, after assessing qualitative factors, the Company determines that it is more likely than not that the fair value of our reporting unit is less than its carrying amount, then a two-step impairment test is performed to identify potential goodwill impairment and measure the amount of goodwill impairment loss to be recognized, if any. As of September 30, 2017, the Company’s assessment of qualitative factors informed its conclusion that a goodwill impairment did not occur. The significant qualitative factors considered include an increase in the Company’s share price and continued strong cash flow. Our reporting unit had fair value significantly in excess of its carrying value. Management determined that no impairment charge was required for the years ended December 31, 2017 , 2016 , and 2015 . |
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | Other Intangibles, Net Other intangibles, net consists primarily of a tradename, covenants not to compete, and customer relationships. All intangible assets determined to have finite lives are amortized over their estimated useful lives. The useful life of an intangible asset is the period over which the asset is expected to contribute directly or indirectly to future cash flows. We periodically evaluate amortizable intangible assets for impairment upon occurrence of events or changes in circumstances that indicate the carrying amount of intangible assets may not be recoverable. Management determined that no impairment charge was required for the years ended December 31, 2017 , 2016 , and 2015 . See Note 4 for additional information regarding intangible assets. |
Commitments and Contingencies, Policy [Policy Text Block] | Contingent Consideration During the contingent consideration periods related to the acquisition of GTI which ended December, 31, 2017, we estimated and recorded the acquisition date estimated fair value of contingent consideration as part of purchase price consideration for acquisitions. During each reporting period, we estimated changes in the fair value of contingent consideration, and any change in fair value was recognized in the consolidated statements of comprehensive income. An increase in the earn-out expected to be paid in connection with an acquisition resulted in a charge to operations in the year that the anticipated fair value of contingent consideration increased, while a decrease in the earn-out expected to be paid resulted in a credit to operations in the year that the anticipated fair value of contingent consideration decreased. The estimates of the fair value of contingent consideration required assumptions to be made in regards to future operating results, discount rates, and probabilities assigned to various potential operating result scenarios which are now known as of December 31, 2017. |
Self-insurance Policy Text Block [Policy Text Block] | Insurance Accruals We are self-insured for auto liability, cargo loss and damage, bodily injury and property damage ("BI/PD"), and workers’ compensation. Insurance accruals reflect the estimated cost of claims, including estimated loss and loss adjustment expenses incurred but not reported, and not covered by insurance. Accident and workers’ compensation accruals are based upon individual case estimates, including reserve development, and estimates of incurred-but-not-reported losses based upon our own historical experience and industry claim trends. Insurance accruals are not discounted. The cost of cargo and BI/PD insurance and claims are included in insurance and claims expense, while the costs of workers’ compensation insurance and claims are included in salaries, wages, and benefits in the consolidated statements of comprehensive income. Insurance accruals are presented as either current or non-current in the consolidated balance sheets based on our expectation of when payment will occur. Health insurance accruals reflect the estimated cost of health related claims, including estimated expenses incurred but not reported. The cost of health insurance and claims are included in salaries, wages and benefits in the consolidated statements of comprehensive income. Health insurance accruals of $7.0 million and $5.5 million are included in other accruals in the consolidated balance sheets as of December 31, 2017 and 2016 , respectively. |
Revenue Recognition, Policy [Policy Text Block] | Revenue and Expense Recognition Revenue is generally recognized when freight is delivered. Revenue is estimated for multiple-stop loads based on the number of miles run prior to the end of the accounting period. Revenue associated with loads delivered but not billed as of the end of an accounting period is estimated as part of revenue for that period. Fuel surcharge revenue charged to customers and freight brokerage services on freight brokered to third party carriers are earned consistent with the timing of freight revenues and included in operating revenue in the consolidated statements of comprehensive income. Fuel surcharge revenues were $72.5 million , $58.4 million , and $91.8 million for the years ended December 31, 2017 , 2016 , and 2015 , respectively, and are included in operating revenue in the consolidated statement of comprehensive income. Revenue associated with freight brokerage services are recognized on a gross basis and as freight is delivered, as the Company is the primary obligor, although revenues are not material to the Company's consolidated operations and these services were ended prior to December 31, 2017 . |
Cost of Sales, Policy [Policy Text Block] | Driver wages and other direct operating expenses are recognized when freight is delivered and are estimated for multiple-stop loads at the end of an accounting period. |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-Based Compensation We have a stock-based compensation plan that provides for the grants of restricted stock awards to our employees. We account for restricted stock awards using the fair value method of accounting for stock-based compensation. Issuances of stock upon vesting of restricted stock are made from treasury stock. Compensation expense for restricted stock grants is recognized over the requisite service period of each award and is included in salaries, wages and benefits in the consolidated statements of comprehensive income. Total compensation of $8.8 million related to all awards granted under the program is being amortized over the requisite service period for each separate vesting period as if the award is, in substance, multiple awards between 2011 and 2021. |
Earnings Per Share, Policy [Policy Text Block] | Earnings per Share Basic earnings per share are based upon the weighted average common shares outstanding during each year. Diluted earnings per share is based on the basic weighted earnings per share with additional weighted common shares for common stock equivalents. |
Income Tax, Policy [Policy Text Block] | Income Taxes We use the asset and liability method of accounting for income taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statements carrying amount of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Such amounts are adjusted, as appropriate, to reflect changes in tax rates expected to be in effect when the temporary differences reverse. The effect of a change in tax rates on deferred taxes is recognized in the period that the change is enacted. We have not recorded a valuation allowance against any deferred tax assets at December 31, 2017 and 2016 . In management’s opinion, it is more likely than not that we will be able to utilize these deferred tax assets in future periods as a result of our history of profitability, taxable income, and reversal of deferred tax liabilities. On December 22, 2017, the US Congress enacted the Tax Act, which made significant changes to US federal income tax law, including a reduction in the federal corporate tax rate to 21 % effective January 1, 2018. Under US GAAP, we are required to recognize the effect of a rate change on deferred tax assets and liabilities in the period in which the tax rate change is enacted. Therefore, the rate change enacted by the Tax Act resulted in the recognition of a deferred tax benefit of $32.8 million at December 31, 2017. Pursuant to the authoritative accounting guidance on income taxes, when establishing a valuation allowance, we consider future sources of taxable income such as “future reversals of existing taxable temporary differences and carry-forwards” and “tax planning strategies”. In the event we determine that the deferred tax assets will not be realized in the future, the valuation adjustment to the deferred tax assets is charged to earnings or accumulated other comprehensive loss based on the nature of the asset giving rise to the deferred tax asset and the facts and circumstances resulting in that conclusion. We calculate our current and deferred tax provision based on estimates and assumptions that could differ from the actual results reflected in income tax returns filed in subsequent years. Adjustments based on filed returns are recorded when identified. |
Income Tax Uncertainties, Policy [Policy Text Block] | We recognize the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. We record interest and penalties related to unrecognized tax benefits in income tax expense. |
New Accounting Pronouncements, Policy [Policy Text Block] | New Accounting Pronouncements On December 22, 2017, the SEC issued Staff Accounting Bulletin (“SAB 118”), which provides guidance on accounting for tax effects of the Tax Act. SAB 118 provides a measurement period that should not extend beyond one year from the Tax Act enactment date for companies to complete the accounting under ASC 740. In accordance with SAB 118, a company must reflect the income tax effects of those aspects of the Tax Act for which the accounting under ASC 740 is complete. To the extent that a company’s accounting for certain income tax effects of the Tax Act is incomplete but it is able to determine a reasonable estimate, it must record a provisional estimate to be included in the financial statements. If a company cannot determine a provisional estimate to be included in the financial statements, it should continue to apply ASC 740 on the basis of the provision of the tax laws that were in effect immediately before the enactment of the Tax Act. Management has evaluated the relevant provisions of the Tax Act to the Company and accounted for the impacts on a provisional basis in the financial statements as of December 31, 2017. The provisional amount is subject to change based on how states conform to the Tax Act, as that information is not readily available for many states at this time. Any revisions to the estimated impacts of the Tax Act will be recorded quarterly until the computations are complete, which is expected to be no later than the fourth quarter of 2018. In May 2017, the Financial Accounting Standards Boards (FASB) issued ASU 2017-09, "Compensation-Stock Compensation (Topic 718): Scope of Modification Accounting," to provide clarity and reduce diversity and complexity of applying the accounting guidance in Topic 718 to a change in the terms or conditions of a share-based payment award. An entity should account for the effects of a modification unless certain criteria are met. The provisions of this update are effective for interim and annual periods beginning after December 15, 2017, with early adoption permitted. Based on our initial assessment, we believe the impact of adoption of the standard will not have a material impact on our financial statements and we expect to adopt this standard prospectively for interim and annual periods beginning January 1, 2018. In January 2017, the FASB issued ASU 2017-04, “Simplifying the Test for Goodwill Impairment,” which continues to require an entity to review indicators for impairment, perform qualitative assessments, and analyze the fair value of a reporting unit as compared to the carrying value of goodwill for potential impairment but eliminates or replaces additional tests and assessments within the prior guidance. The provisions of this update are effective for fiscal years beginning after December 15, 2019, with early adoption permitted for impairment measurement tests occurring after January 1, 2017. Based on our initial assessment, we believe the impact of adoption of the standard will not have a material impact on our financial statements but we have not yet identified our adoption date. In November 2016, the FASB issued ASU 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash,” which requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash. The provisions of this update are effective for fiscal years beginning after December 15, 2017. Based on our assessment and current levels of restricted cash following the acquisition of IDC, we intend to include and explain the change in restricted cash upon adoption of the standard for periods after January 1, 2018. Further ASU 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments,” which addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. The provisions of this update are effective for fiscal years beginning after December 15, 2017. Based on our assessment, we believe the impact of adoption of the standard will not have a material impact on our consolidated cash flows and intend to adopt this standard as of January 1, 2018. In June 2016, the FASB issued ASU 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments". This update requires measurement and recognition of expected versus incurred credit losses for financial assets held. ASU 2016-13 is effective for annual periods beginning after December 15, 2019, and interim periods therein. Based on our initial assessment, we believe the impact of adoption of the standard will not have a material impact on our financial statements. In March 2016, the FASB issued ASU 2016-09, "Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting". This update seeks to simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows. This update was effective for the Company beginning January 1, 2017 and was adopted accordingly, including forfeitures being recorded as incurred, during the quarter ended March 31, 2017 and for future periods. The adoption did not have a material impact on our financial statements and prior periods presented have not been adjusted. In February 2016, the FASB issued ASU 2016-02, "Leases". This update seeks to increase the transparency and comparability among entities by requiring public entities to recognize lease assets and lease liabilities on the balance sheet and disclose key information about leasing arrangements. To satisfy the standard’s objective, a lessee will recognize a right-of-use asset representing its right to use the underlying asset for the lease term and a lease liability for the obligation to make lease payments. Both the right-of-use asset and lease liability will initially be measured at the present value of the lease payments, with subsequent measurement dependent on the classification of the lease as either a finance or an operating lease. For leases with a term of twelve months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. If a lessee makes this election, it should recognize lease expense for such leases generally on a straight-line basis over the lease term. In transition, lessees are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. The modified retrospective approach includes a number of optional practical expedients that companies may elect to apply. These practical expedients relate to the identification and classification of leases that commenced before the effective date, initial direct costs for leases that commenced before the effective date, and the ability to use hindsight in evaluating lessee options to extend or terminate a lease or to purchase the underlying asset. The transition guidance also provides specific guidance for sale and leaseback transactions, build-to-suit leases, leveraged leases, and amounts previously recognized in accordance with the business combinations guidance for leases. The new standard is effective for public companies for annual periods beginning after December 15, 2018, and interim periods within those years, with early adoption permitted. We continue to assess the materiality of the expected adoption of this guidance to our operations. The magnitude of our operating leases increased on July 6th, 2017, when we acquired 100% of the outstanding stock of IDC, but has declined as we terminated certain leases. We expect to complete an updated assessment and select a transition method by January 1, 2019, our expected date of transition. In May 2014, the FASB issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606), which will replace numerous requirements in U.S. GAAP, including industry-specific requirements, and provide companies with a single revenue recognition model for recognizing revenue from contracts with customers. The core principle of the new standard is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The two permitted transition methods under the new standard are the full retrospective method, in which case the standard would be applied to each prior reporting period presented and the cumulative effect of applying the standard would be recognized at the earliest period shown, or the modified retrospective method, in which case the cumulative effect of applying the standard would be recognized at the date of initial application. In July 2015, the FASB approved the deferral of the new standard's effective date by one year. The new standard is effective for annual reporting periods beginning after December 15, 2017 with early adoption permitted. We have been closely monitoring FASB activity related to the new standard and are evaluating the effect that the new guidance will have on our consolidated financial statements and related disclosures. We have performed an analysis of our revenue transactions across our operations before and after the acquisition of IDC on July 6, 2017, and based on that assessment we believe that our adoption will not have a material impact on our operating revenue or operating income as a short-to-medium haul truckload carrier (predominately 500 miles or less per load). We have selected and intend to implement the cumulative-effect transition method at January 1, 2018, our date of transition. |
Significant Accounting Polici25
Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Significant Accounting Policies [Abstract] | |
Property, Plant and Equipment [Table Text Block] | Lives of the assets are as follows: Years Land improvements and buildings 5-30 Leasehold improvements 5-25 Furniture and fixtures 3-5 Shop and service equipment 3-10 Revenue equipment 5-7 |
Schedule of Calculation of Numerator and Denominator in Earnings Per Share [Table Text Block] | A reconciliation of the numerator (net income) and denominator (weighted average number of shares outstanding) of the basic and diluted earnings per share (“EPS”) for 2017 , 2016 , and 2015 is as follows (in thousands, except per share data): 2017 Net Income (numerator) Shares (denominator) Per Share Amount Basic EPS $ 75,173 83,298 $ 0.90 Effect of restricted stock — 38 Diluted EPS $ 75,173 83,336 $ 0.90 2016 Net Income (numerator) Shares (denominator) Per Share Amount Basic EPS $ 56,386 83,297 $ 0.68 Effect of restricted stock — 68 Diluted EPS $ 56,386 83,365 $ 0.68 2015 Net Income (numerator) Shares (denominator) Per Share Amount Basic EPS $ 73,056 86,974 $ 0.84 Effect of restricted stock — 135 Diluted EPS $ 73,056 87,109 $ 0.84 |
Acquisition of Interstate Dis26
Acquisition of Interstate Distributor Co. (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Business Combinations [Abstract] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | (in thousands) Cash and cash equivalents $ 6,316 Trade and other accounts receivable 35,131 Other current assets 2,426 Property and equipment 71,964 Other non-current assets 1,244 Intangible assets 7,800 Goodwill 32,198 Total assets 157,079 Accounts payable, accrued expenses, and current portion of long-term debt (35,209 ) Insurance accruals (10,826 ) Long-term debt (17,404 ) Other accruals (596 ) Total consideration transferred $ 93,044 |
Business Acquisition, Pro Forma Information [Text Block] | TOTAL PURCHASE PRICE CONSIDERATION (in thousands) Cash paid pursuant to Stock Purchase Agreement $ 93,044 Cash acquired included in historical book value of IDC assets and liabilities (6,316 ) Net cash paid $ 86,728 Year ended Year ended December 31, 2016 December 31, 2017 (in thousands) Operating revenue $ 938,007 $ 756,498 Net income $ 54,222 $ 72,752 |
Intangible Assets and Goodwill
Intangible Assets and Goodwill (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Finite-Lived Intangible Assets [Line Items] | |
Schedule of Goodwill [Table Text Block] | (in thousands) Balance at December 31, 2016 $ 100,212 Acquisition 32,198 Balance at December 31, 2017 $ 132,410 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | 2017 Amortization period (years) Gross Amount Accumulated Amortization Net intangible assets (in thousands) Customer relationships 20 $ 13,600 $ 1,645 $ 11,955 Tradename 0.5-6 8,100 5,769 2,331 Covenants not to compete 1-10 4,200 1,464 2,736 $ 25,900 $ 8,878 $ 17,022 2016 Amortization period (years) Gross Amount Accumulated Amortization Net intangible assets (in thousands) Customer relationships 20 $ 7,600 $ 1,187 $ 6,413 Tradename 6 7,400 3,854 3,546 Covenants not to compete 10 3,100 969 2,131 $ 18,100 $ 6,010 $ 12,090 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Deferred tax assets and liabilities as of December 31 are as follows: 2017 2016 (in thousands) Deferred income tax assets: Allowance for doubtful accounts $ 515 $ 559 Accrued expenses 6,550 9,275 Stock-based compensation 156 254 Insurance accruals 18,225 29,190 State net operating loss carryforward 237 451 Indirect tax benefits of unrecognized tax benefits 1,278 3,334 Other — 2 Total gross deferred tax assets 26,961 43,065 Less valuation allowance — — Net deferred tax assets 26,961 43,065 Deferred income tax liabilities: Property and equipment (81,322 ) (122,367 ) Goodwill (7,984 ) (9,857 ) Prepaid expenses (1,406 ) (1,713 ) (90,712 ) (133,937 ) Net deferred tax liability $ (63,751 ) $ (90,872 ) |
Summary of Deferred Tax Assets (Liabilities) by Balance Sheet Classification [Table Text Block] | The deferred tax amounts above have been classified in the accompanying consolidated balance sheets at December 31, 2017 and 2016 as follows: 2017 2016 (in thousands) Noncurrent assets, net $ 1,737 $ 3,785 Long-term liabilities, net (65,488 ) (94,657 ) $ (63,751 ) $ (90,872 ) |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | The income tax provision differs from the amount determined by applying the U.S. federal tax rate as follows: 2017 2016 2015 (in thousands) Federal tax at statutory rate (35%) $ 22,574 $ 30,117 $ 40,870 State taxes, net of federal benefit 178 1,135 4,022 Non-taxable interest income (7 ) (7 ) (6 ) Uncertain income tax penalties and interest, net (1,208 ) (1,473 ) (1,006 ) Enacted federal tax rate change (32,789 ) — — Other 577 (109 ) (165 ) $ (10,675 ) $ 29,663 $ 43,715 Income tax expense consists of the following: 2017 2016 2015 (in thousands) Current income taxes: Federal $ 17,997 $ 34,664 $ 33,364 State (1,495 ) 454 2,703 16,502 35,118 36,067 Deferred income taxes: Federal (28,020 ) (5,291 ) 5,170 State 843 (164 ) 2,478 (27,177 ) (5,455 ) 7,648 Total $ (10,675 ) $ 29,663 $ 43,715 |
Reconciliation of Unrecognized Tax Benefits [Table Text Block] | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: 2017 2016 (in thousands) Balance at January 1, $ 8,751 $ 11,569 Additions based on tax positions related to current year 135 592 Additions for tax positions of prior years — — Reductions for tax positions of prior years (331 ) (108 ) Reductions due to lapse of applicable statute of limitations (2,699 ) (3,302 ) Settlements (17 ) — Balance at December 31, $ 5,839 $ 8,751 |
Operating Leases Operating Le29
Operating Leases Operating Leases (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Leases [Abstract] | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Future minimum lease payments related to the operating leases described above, as of December 31, 2017 , are as follows: Amounts (in thousands) Related Party Non-Related Party Total 2018 $ 1,451 $ 11,590 13,041 2019 — 9,227 9,227 2020 — 6,268 6,268 2021 — 5,699 5,699 Thereafter — 10,167 10,167 Total $ 1,451 $ 42,951 $ 44,402 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Stock-Based Compensation [Abstract] | |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | The following table summarizes our restricted stock award activity for the years ended December 31, 2017 , 2016 and 2015 . The vesting dates for the awards vested in 2017 occurred relatively evenly throughout the first half of the year ended December 31, 2017 . The fair value of awards vested during 2017 , 2016 and 2015 was $0.6 million , $2.0 million and $1.6 million , respectively. 2017 Number of Restricted Stock Awards (in thousands) Weighted Average Grant Date Fair Value Unvested at beginning of year 53.0 $ 21.53 Granted 27.0 22.98 Vested (25.3 ) 22.07 Forfeited (1.0 ) 17.11 Outstanding (unvested) at end of year 53.7 $ 21.82 2016 Number of Restricted Stock Awards (in thousands) Weighted Average Grant Date Fair Value Unvested at beginning of year 102.4 $ 18.36 Granted 74.0 17.27 Vested (122.2 ) 16.21 Forfeited (1.2 ) 22.21 Outstanding (unvested) at end of year 53.0 $ 21.53 2015 Number of Restricted Stock Awards (in thousands) Weighted Average Grant Date Fair Value Unvested at beginning of year 183.1 $ 16.78 Granted 17.9 20.92 Vested (98.6 ) 16.49 Forfeited — — Outstanding (unvested) at end of year 102.4 $ 18.36 |
Related Party (Tables)
Related Party (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Related Party [Abstract] | |
Schedule of Related Party Transactions [Table Text Block] | The related payments (receipts) with related parties for the years ended December 31, 2017 , 2016 , and 2015 were as follows: December 31, 2017 December 31, 2016 December 31, 2015 (in thousands) Payments for tractor purchases $ — $ 4,300 $ 58,599 Receipts for tractor sales — — (38,064 ) Receipts for trailer sales (12 ) (108 ) (28 ) Revenue equipment lease payments — 813 3,223 Payments for parts and services 650 1,300 4,346 Terminal lease payments 1,625 1,849 3,408 Terminal purchase option payments — — 21,555 $ 2,263 $ 8,154 $ 53,039 |
Quarterly Financial Informati32
Quarterly Financial Information (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Quarterly Financial Information (Unaudited) [Abstract] | |
Schedule of Quarterly Financial Information [Table Text Block] | First Second Third Fourth (In Thousands, Except Per Share Data) Year ended December 31, 2017 Operating revenue $ 129,903 $ 129,616 $ 182,114 $ 165,703 Operating income 19,363 21,313 12,999 9,869 Income before income taxes 19,651 21,737 13,062 10,048 Net income 14,036 14,616 7,916 38,605 Net income per share, basic 0.17 0.18 0.10 0.45 Net income per share, diluted 0.17 0.18 0.09 0.45 Year ended December 31, 2016 Operating revenue $ 162,786 $ 160,791 $ 149,316 $ 140,044 Operating income 20,250 24,507 19,913 20,898 Income before income taxes 20,325 24,616 20,037 21,071 Net income 14,377 16,368 12,527 13,114 Net income per share, basic 0.17 0.20 0.15 0.16 Net income per share, diluted 0.17 0.20 0.15 0.16 |
Significant Accounting Polici33
Significant Accounting Policies Segment Information (Details) | 12 Months Ended |
Dec. 31, 2017segments | |
Significant Accounting Policies [Abstract] | |
Number of Reportable Segments | 1 |
Significant Accounting Polici34
Significant Accounting Policies Cash and Cash Equivalents (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Significant Accounting Policies [Abstract] | ||
Restricted Cash and Cash Equivalents | $ 30.7 | $ 21.7 |
Restricted Cash and Cash Equivalents, Current | 7.9 | 9.3 |
Restricted Cash and Cash Equivalents, Noncurrent | $ 22.8 | $ 12.4 |
Significant Accounting Polici35
Significant Accounting Policies Investments (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Significant Accounting Policies [Abstract] | ||
Held-to-maturity Securities | $ 1.4 | $ 1.4 |
Significant Accounting Polici36
Significant Accounting Policies Trade Receivables and Allowance for Doubtful Accounts (Details) $ in Millions | Dec. 31, 2017USD ($)d | Dec. 31, 2016USD ($) |
Significant Accounting Policies [Abstract] | ||
Customer credit terms (in days) | d | 30 | |
Allowance for Doubtful Accounts Receivable, Current | $ | $ 1.5 | $ 1.5 |
Significant Accounting Polici37
Significant Accounting Policies Property, Equipment and Depreciation (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Property, Plant and Equipment | ||
Amortization Period of Tires | 2 years | |
Communications and Utilities Expense [Member] | ||
Property, Plant and Equipment | ||
Depreciation | $ 200,000 | $ 0 |
Tractors [Member] | ||
Property, Plant and Equipment | ||
Property, Plant, and Equipment, Salvage Value | 15,000 | |
Trailers [Member] | ||
Property, Plant and Equipment | ||
Property, Plant, and Equipment, Salvage Value | $ 4,000 | |
Minimum [Member] | Land Improvements and Buildings [Member] | ||
Property, Plant and Equipment | ||
Property, Plant and Equipment, Useful Life | 5 years | |
Minimum [Member] | Leasehold Improvements [Member] | ||
Property, Plant and Equipment | ||
Property, Plant and Equipment, Useful Life | 5 years | |
Minimum [Member] | Furniture and Fixtures [Member] | ||
Property, Plant and Equipment | ||
Property, Plant and Equipment, Useful Life | 3 years | |
Minimum [Member] | Shop and Service Equipment [Member] | ||
Property, Plant and Equipment | ||
Property, Plant and Equipment, Useful Life | 3 years | |
Minimum [Member] | Revenue Equipment [Member] | ||
Property, Plant and Equipment | ||
Property, Plant and Equipment, Useful Life | 5 years | |
Maximum [Member] | Land Improvements and Buildings [Member] | ||
Property, Plant and Equipment | ||
Property, Plant and Equipment, Useful Life | 30 years | |
Maximum [Member] | Leasehold Improvements [Member] | ||
Property, Plant and Equipment | ||
Property, Plant and Equipment, Useful Life | 25 years | |
Maximum [Member] | Furniture and Fixtures [Member] | ||
Property, Plant and Equipment | ||
Property, Plant and Equipment, Useful Life | 5 years | |
Maximum [Member] | Shop and Service Equipment [Member] | ||
Property, Plant and Equipment | ||
Property, Plant and Equipment, Useful Life | 10 years | |
Maximum [Member] | Revenue Equipment [Member] | ||
Property, Plant and Equipment | ||
Property, Plant and Equipment, Useful Life | 7 years |
Significant Accounting Polici38
Significant Accounting Policies Impairment of Long-Lived Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Significant Accounting Policies [Abstract] | |||
Asset Impairment Charges | $ 0 | $ 0 | $ 0 |
Significant Accounting Polici39
Significant Accounting Policies Advertising Costs (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Significant Accounting Policies [Abstract] | |||
Advertising Expense | $ 2 | $ 2.1 | $ 3.1 |
Significant Accounting Polici40
Significant Accounting Policies Goodwill (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Significant Accounting Policies [Abstract] | |||
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | $ 0 | $ 0 | $ 0 |
Goodwill, Impairment Loss | $ 0 | $ 0 | $ 0 |
Significant Accounting Polici41
Significant Accounting Policies Self-Insurance Accruals (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Significant Accounting Policies [Abstract] | ||
Health insurance reserves | $ 7 | $ 5.5 |
Significant Accounting Polici42
Significant Accounting Policies Revenue and Expense Recognition (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Significant Accounting Policies [Abstract] | |||
Fuel surcharge revenue | $ 72.5 | $ 58.4 | $ 91.8 |
Significant Accounting Polici43
Significant Accounting Policies Stock-based compensation (Details) - USD ($) $ in Thousands | 12 Months Ended | 109 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Jan. 01, 2021 | |
Significant Accounting Policies [Abstract] | ||||
Stock-based Compensation | $ 510 | $ 1,285 | $ 1,212 | $ 8,800 |
Significant Accounting Polici44
Significant Accounting Policies Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Significant Accounting Policies [Abstract] | |||||||||||
Net income | $ 38,605 | $ 7,916 | $ 14,616 | $ 14,036 | $ 13,114 | $ 12,527 | $ 16,368 | $ 14,377 | $ 75,173 | $ 56,386 | $ 73,056 |
Weighted Average Number of Shares Outstanding, Basic | 83,298 | 83,297 | 86,974 | ||||||||
Basic EPS | $ 0.45 | $ 0.10 | $ 0.18 | $ 0.17 | $ 0.16 | $ 0.15 | $ 0.20 | $ 0.17 | $ 0.90 | $ 0.68 | $ 0.84 |
Dilutive Securities, Effect on Basic Earnings Per Share, Including Options and Restrictive Stock Units | $ 0 | $ 0 | $ 0 | ||||||||
Incremental Common Shares Attributable to Share-based Payment Arrangements | 38 | 68 | 135 | ||||||||
Net Income (Loss) Available to Common Stockholders, Diluted | $ 75,173 | $ 56,386 | $ 73,056 | ||||||||
Weighted Average Number of Shares Outstanding, Diluted | 83,336 | 83,365 | 87,109 | ||||||||
Diluted EPS | $ 0.45 | $ 0.09 | $ 0.18 | $ 0.17 | $ 0.16 | $ 0.15 | $ 0.20 | $ 0.17 | $ 0.90 | $ 0.68 | $ 0.84 |
Significant Accounting Polici45
Significant Accounting Policies Income Taxes (Details) | 12 Months Ended | |
Dec. 31, 2018Rate | Dec. 31, 2017 | |
Significant Accounting Policies [Abstract] | ||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | |
PortionOfTaxBenefitRecordedPositionsMoreLikelyThanNotToBeSustained | 50.00% |
Concentrations of Credit Risk46
Concentrations of Credit Risk and Major Customers (Details) - Customer | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Concentration Risk | |||
Concentration of risk, number of customers | 5 | ||
Concentration Risk, Percentage | 12.60% | 12.30% | |
Sales Revenue, Services, Net [Member] | Customer Concentration Risk [Member] | |||
Concentration Risk | |||
Concentration of risk, number of customers | 1 | 1 | 0 |
Baseline percentage for customer concentration of risk | 10.00% | 10.00% | |
Concentration Risk, Percentage | 38.00% | 40.00% | 36.00% |
Accounts Receivable [Member] | Customer Concentration Risk [Member] | |||
Concentration Risk | |||
Revenues | 7,487,611 | ||
Concentration Risk, Percentage | 32.00% | 41.00% |
Acquisition of Interstate Dis47
Acquisition of Interstate Distributor Co. (Details) - USD ($) $ in Thousands | Jul. 06, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Business Acquisition [Line Items] | ||||
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual, Percent | $ 5,659 | $ 3,882 | ||
Payments to Acquire Intangible Assets | $ 6,316 | |||
Cash Acquired from Acquisition | 6,316 | |||
Business Acquisition, Pro Forma Revenue | 756,498 | 938,007 | ||
Business Acquisition, Pro Forma Net Income (Loss) | 72,752 | 54,222 | ||
Accounts and Other Receivables, Net, Current | 35,131 | |||
Other current assets | 2,426 | 13,782 | 13,841 | |
Property, Plant and Equipment, Net | 71,964 | 442,862 | 407,648 | |
Other Assets, Noncurrent | 1,244 | 24,261 | 12,382 | |
Intangible Assets, Current | 7,800 | |||
Goodwill | 32,198 | 132,410 | 100,212 | |
Assets | 157,079 | 789,127 | 738,228 | |
Business Combination, Consideration Transferred | 93,044 | |||
Payments to Acquire Businesses, Net of Cash Acquired | 86,728 | 86,728 | $ 0 | $ 0 |
Business Combination, Acquisition Related Costs | $ 900 | |||
Accounts Payable and Accrued Liabilities | 35,209 | |||
Self Insurance Reserve | 10,826 | |||
Cash [Member] | ||||
Business Acquisition [Line Items] | ||||
Payments to Acquire Businesses, Gross | $ 93,044 |
Intangible Assets and Goodwil48
Intangible Assets and Goodwill (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Jul. 06, 2017 | |
Finite-Lived Intangible Assets [Line Items] | |||
Goodwill | $ 132,410 | $ 100,212 | $ 32,198 |
Finite-Lived Intangible Assets, Gross | 25,900 | 18,100 | |
Finite-Lived Intangible Assets, Accumulated Amortization | 8,878 | 6,010 | |
Finite-Lived Intangible Assets, Net | 17,022 | 12,090 | |
Finite-Lived Intangible Assets, Amortization Expense | 2,868 | $ 1,923 | |
Finite-Lived Intangible Assets, Amortization Expense, Next Rolling Twelve Months | 2,500 | ||
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 2,200 | ||
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 1,200 | ||
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 1,200 | ||
Finite-Lived Intangible Assets, Amortization Expense, Year Five | $ 1,100 | ||
Customer Relationships [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 20 years | 20 years | |
Finite-Lived Intangible Assets, Gross | $ 13,600 | $ 7,600 | |
Finite-Lived Intangible Assets, Accumulated Amortization | 1,645 | 1,187 | |
Finite-Lived Intangible Assets, Net | 11,955 | $ 6,413 | |
Noncompete Agreements [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 10 years | ||
Finite-Lived Intangible Assets, Gross | 4,200 | $ 3,100 | |
Finite-Lived Intangible Assets, Accumulated Amortization | 1,464 | 969 | |
Finite-Lived Intangible Assets, Net | 2,736 | $ 2,131 | |
Trade Names [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 6 years | ||
Finite-Lived Intangible Assets, Gross | 8,100 | $ 7,400 | |
Finite-Lived Intangible Assets, Accumulated Amortization | 5,769 | 3,854 | |
Finite-Lived Intangible Assets, Net | $ 2,331 | $ 3,546 | |
Minimum [Member] | Noncompete Agreements [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 1 year | ||
Minimum [Member] | Trade Names [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 6 months | ||
Maximum [Member] | Noncompete Agreements [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 10 years | ||
Maximum [Member] | Trade Names [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 6 years |
Long-Term Debt (Details)
Long-Term Debt (Details) | 12 Months Ended | ||||
Dec. 31, 2017USD ($) | Jul. 06, 2017USD ($) | Dec. 31, 2016USD ($) | Nov. 01, 2016USD ($) | Nov. 11, 2013USD ($) | |
Debt Instrument [Line Items] | |||||
Long-term Line of Credit | $ 0 | $ 0 | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 175,000,000 | $ 250,000,000 | |||
Line of Credit Facility, Commitment Fee Percentage | 0.0625% | ||||
Debt Instrument, Covenant, Leverage Ratio | 2 | ||||
Debt Covenant, Minimum Net Income Requirement | $ 1 | ||||
Long-term Debt | $ 17,404,000 | ||||
Line of Credit Facility, Remaining Borrowing Capacity | 171,300,000 | 169,500,000 | |||
Letters of Credit Outstanding on a Line of Credit, Amount Outstanding | $ 3,700,000 | $ 5,500,000 | |||
London Interbank Offered Rate (LIBOR) [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Basis Spread on Variable Rate | 0.625% | ||||
Prime Rate [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Basis Spread on Variable Rate | 0.00% |
Accident and Workers' Compens50
Accident and Workers' Compensation Insurance Liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Accident and Workers' Compensation Insurance Liabilities [Line Items] | ||
Excess Insurance Coverage Limit | $ 100 | |
Trust fund requirements | 0.7 | |
Restricted Cash and Cash Equivalents, Noncurrent | 22.8 | $ 12.4 |
Letters of Credit Outstanding, Amount | 6.8 | |
Long-term Line of Credit | 0 | 0 |
Auto liability retention limit minimum [Member] | ||
Accident and Workers' Compensation Insurance Liabilities [Line Items] | ||
Auto liability retention limit | 0.5 | |
Auto liability retention limit maximum [Member] [Member] | ||
Accident and Workers' Compensation Insurance Liabilities [Line Items] | ||
Auto liability retention limit | 2 | |
workers compensation retention limit minimum [Member] | ||
Accident and Workers' Compensation Insurance Liabilities [Line Items] | ||
Workers compensation retention limit | 0.5 | |
workers compensation retention limit maximum [Member] | ||
Accident and Workers' Compensation Insurance Liabilities [Line Items] | ||
Workers compensation retention limit | 1 | |
Gordon Trucking Company, Inc [Member] | ||
Accident and Workers' Compensation Insurance Liabilities [Line Items] | ||
Restricted Cash and Cash Equivalents, Noncurrent | $ 0 | $ 0.6 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income Taxes [Abstract] | ||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | |||
Income Tax Reconciliation, Other Adjustments | $ 577 | $ (109) | $ (165) | |
Deferred Income Tax Expense (Benefit) | $ (27,177) | (5,455) | 7,648 | |
PortionOfTaxBenefitRecordedPositionsMoreLikelyThanNotToBeSustained | 50.00% | |||
Income Tax Uncertainties [Abstract] | ||||
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | $ 4,800 | 5,700 | ||
Unrecognized Tax Benefits, Period Increase (Decrease) | (2,900) | (2,800) | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 2,300 | 3,200 | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | (900) | (1,500) | (1,000) | |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Estimated Range of Change, Lower Bound | (2,200) | |||
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Estimated Range of Change, Upper Bound | (3,200) | |||
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ||||
Balance beginning of period | $ 5,839 | 8,751 | 11,569 | |
Additions based on tax positions related to current year | 135 | 592 | ||
Additions for tax positions of prior years | 0 | 0 | ||
Reductions for tax positions of prior years | (331) | (108) | ||
Reductions due to lapse of applicable statute of limitations | (2,699) | (3,302) | ||
Settlements | (17) | 0 | ||
Balance end of period | 5,839 | 8,751 | 11,569 | |
Valuation Allowance [Abstract] | ||||
Valuation Allowance, Amount | 0 | 0 | ||
Tax Cuts and Jobs Act of 2017, Incomplete Accounting, Change in Tax Rate, Deferred TaxLiability, Provisional Income Tax (Expense) Benefit | $ 32,789 | $ 0 | $ 0 |
Income Taxes Income Tax Rate R
Income Taxes Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income Taxes [Abstract] | |||
Income Tax Reconciliation, Income Tax Expense (Benefit), at Federal Statutory Income Tax Rate | $ 22,574 | $ 30,117 | $ 40,870 |
Income Tax Reconciliation, State and Local Income Taxes | 178 | 1,135 | 4,022 |
Income Tax Reconciliation, Tax Exempt Income | (7) | (7) | (6) |
Income Tax Reconciliation, Tax Contingencies | (1,208) | (1,473) | (1,006) |
Tax Cuts and Jobs Act of 2017, Incomplete Accounting, Change in Tax Rate, Deferred TaxLiability, Provisional Income Tax (Expense) Benefit | (32,789) | 0 | 0 |
Income Tax Reconciliation, Other Adjustments | 577 | (109) | (165) |
Income Tax Expense (Benefit) | $ (10,675) | $ 29,663 | $ 43,715 |
Income Taxes Income Tax Expense
Income Taxes Income Tax Expense Detail (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income Taxes [Abstract] | |||
Current Federal Tax Expense (Benefit) | $ 17,997 | $ 34,664 | $ 33,364 |
Current State and Local Tax Expense (Benefit) | (1,495) | 454 | 2,703 |
Current Income Tax Expense (Benefit) | 16,502 | 35,118 | 36,067 |
Deferred Federal Income Tax Expense (Benefit) | (28,020) | (5,291) | 5,170 |
Deferred State and Local Income Tax Expense (Benefit) | 843 | (164) | 2,478 |
Deferred Income Tax Expense (Benefit) | (27,177) | (5,455) | 7,648 |
Income Tax Expense (Benefit) | $ (10,675) | $ 29,663 | $ 43,715 |
Income Taxes Deferred Tax Summa
Income Taxes Deferred Tax Summary (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Income Taxes [Abstract] | ||
Deferred Tax Assets, Net of Valuation Allowance, Noncurrent | $ 1,737 | $ 3,785 |
Deferred Tax Liabilities, Noncurrent | (65,488) | (94,657) |
Deferred Tax Liabilities, Net | $ (63,751) | $ (90,872) |
Income Taxes Deferred tax asset
Income Taxes Deferred tax assets and liabilties (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Income Taxes [Abstract] | ||
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Allowance for Doubtful Accounts | $ 515 | $ 559 |
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities | 6,550 | 9,275 |
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost | 156 | 254 |
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Self Insurance | 18,225 | 29,190 |
Deferred Tax Assets, Operating Loss Carryforwards | 237 | 451 |
Deferred Tax Assets, Tax Deferred Expense | 1,278 | 3,334 |
Deferred Tax Assets, Other | 0 | 2 |
Deferred Tax Assets, Gross | 26,961 | 43,065 |
Deferred Tax Assets, Valuation Allowance | 0 | 0 |
Deferred Tax Assets, Net | 26,961 | 43,065 |
Deferred Tax Liabilities, Property, Plant and Equipment | (81,322) | (122,367) |
Deferred Tax Liabilities, Goodwill and Intangible Assets | (7,984) | (9,857) |
Deferred Tax Liabilities, Prepaid Expenses | 1,406 | 1,713 |
Deferred Income Tax Liabilities | (90,712) | (133,937) |
Deferred Tax Liabilities, Net | $ (63,751) | $ (90,872) |
Operating Leases Operating Le56
Operating Leases Operating Leases (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2015 |
Operating Leased Assets [Line Items] | ||
Operating Leases, Future Minimum Payments Due, Next Twelve Months | $ 13,041,000 | |
Operating Leases, Future Minimum Payments, Due in Two Years | 9,227,000 | |
Operating Leases, Future Minimum Payments, Due in Three Years | 6,268,000 | |
Operating Leases, Future Minimum Payments, Due in Four Years | 5,699,000 | |
Operating Leases, Future Minimum Payments, Due Thereafter | 10,167,000 | |
Operating Leases, Future Minimum Payments Due | 44,402,000 | |
Purchase Options, Land | $ 21,600,000 | |
Related Party [Member] | ||
Operating Leased Assets [Line Items] | ||
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 1,451,000 | |
Operating Leases, Future Minimum Payments, Due in Two Years | 0 | |
Operating Leases, Future Minimum Payments, Due in Three Years | 0 | |
Operating Leases, Future Minimum Payments, Due in Four Years | 0 | |
Operating Leases, Future Minimum Payments, Due Thereafter | 0 | |
Operating Leases, Future Minimum Payments Due | 1,451,000 | |
Equipment Leased to Other Party [Member] | ||
Operating Leased Assets [Line Items] | ||
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 11,590,000 | |
Operating Leases, Future Minimum Payments, Due in Two Years | 9,227,000 | |
Operating Leases, Future Minimum Payments, Due in Three Years | 6,268,000 | |
Operating Leases, Future Minimum Payments, Due in Four Years | 5,699,000 | |
Operating Leases, Future Minimum Payments, Due Thereafter | 10,167,000 | |
Terminal Facilities [Member] | ||
Operating Leased Assets [Line Items] | ||
Operating Leases, Future Minimum Payments Due | $ 42,951,000 |
Stockholders' Equity (Details)
Stockholders' Equity (Details) - USD ($) shares in Thousands, $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Share Repurchases [Abstract] | |||
Stock Repurchase Shares Authorized | 3,300 | ||
Treasury Stock, Shares, Acquired | 0 | 922 | 3,757 |
Payments of Dividends | $ 6.7 | $ 6.7 | $ 6.9 |
Stock-Based Compensation (Detai
Stock-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | 109 Months Ended | |||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Jan. 01, 2021 | Jul. 11, 2011 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 27,000 | 74,000 | 17,900 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | $ 600 | $ 2,000 | $ 1,600 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $ 17.11 | $ 22.21 | $ 0 | ||||
Stock-based Compensation | $ 510 | $ 1,285 | $ 1,212 | $ 8,800 | |||
Restricted Stock Shares Authorized | 900,000 | ||||||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | $ 600 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Grants in Period, Weighted Average Exercise Price | $ 21.53 | $ 18.36 | $ 16.78 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward] | |||||||
Unvested at beginning of year, Number of Restricted Stock Awards (in shares) | 53,000 | 102,400 | 183,100 | ||||
Unvested at end of year, Number of Restricted Stock Awards (in shares) | 53,700 | 53,000 | 102,400 | 183,100 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Grants in Period, Weighted Average Exercise Price | $ 21.82 | $ 21.53 | $ 18.36 | $ 16.78 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 22.98 | $ 17.27 | $ 20.92 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | (25,300) | (122,200) | (98,600) | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | $ 22.07 | $ 16.21 | $ 16.49 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | (1,000) | (1,200) | 0 | ||||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition (in years) | 1 year 2 months 4 days | ||||||
Maximum [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
weighted average fair value price of stock awards upper | $ 23.37 | $ 18.78 | $ 27.29 | 27.47 | $ 18.18 | ||
Minimum [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
weighted average fair value price of stock awards lower | $ 20.53 | $ 17.06 | $ 19.93 | $ 21.72 | $ 13.86 |
Profit Sharing Plan and Retir59
Profit Sharing Plan and Retirement Plan (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Profit Sharing Plan and Retirement Plan [Abstract] | |||
Defined Contribution Plan, Cost | $ 1.8 | $ 1.7 | $ 2.1 |
Related Party (Details)
Related Party (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Related Party Transaction [Line Items] | |||
Payments to Acquire Property, Plant, and Equipment | $ 184,114 | $ 86,088 | $ 217,253 |
Due to Related Parties, Current | 100 | 100 | |
Operating Leases, Rent Expense | 8,000 | 1,000 | 3,300 |
Related Party Transaction, Expenses from Transactions with Related Party | 2,263 | 8,154 | 53,039 |
Related Party [Member] | |||
Related Party Transaction [Line Items] | |||
Payments to Acquire Property, Plant, and Equipment | 0 | 0 | 21,555 |
Payments for tractor purchase | 0 | 4,300 | 58,599 |
proceeds from sale of trailers | (12) | (108) | (28) |
Operating Leases, Rent Expense | 1,000 | 3,000 | |
proceeds from sale of tractors | 0 | 0 | (38,064) |
Payments for parts and services | 650 | 1,300 | 4,346 |
Revenue Equipment [Member] | Related Party [Member] | |||
Related Party Transaction [Line Items] | |||
Operating Leases, Rent Expense | 0 | 813 | 3,223 |
Terminal Facilities [Member] | |||
Related Party Transaction [Line Items] | |||
Operating Leases, Rent Expense | 3,900 | 2,200 | 3,900 |
Terminal Facilities [Member] | Related Party [Member] | |||
Related Party Transaction [Line Items] | |||
Operating Leases, Rent Expense | 1,625 | 1,849 | 3,408 |
Related Party Transaction, Expenses from Transactions with Related Party | $ 1,600 | $ 1,900 | $ 3,600 |
Commitments and Contingencies (
Commitments and Contingencies (Details) $ in Millions | Dec. 31, 2017USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
Unrecorded Unconditional Purchase Obligation | $ 89 |
Quarterly Financial Informati62
Quarterly Financial Information (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Quarterly Financial Information (Unaudited) [Abstract] | |||||||||||
OPERATING REVENUE | $ 165,703 | $ 182,114 | $ 129,616 | $ 129,903 | $ 140,044 | $ 149,316 | $ 160,791 | $ 162,786 | $ 607,336 | $ 612,937 | $ 736,345 |
Operating Income (Loss) | 9,869 | 12,999 | 21,313 | 19,363 | 20,898 | 19,913 | 24,507 | 20,250 | 63,544 | 85,568 | 116,580 |
Income before income taxes | 10,048 | 13,062 | 21,737 | 19,651 | 21,071 | 20,037 | 24,616 | 20,325 | 64,498 | 86,049 | 116,771 |
Net income | $ 38,605 | $ 7,916 | $ 14,616 | $ 14,036 | $ 13,114 | $ 12,527 | $ 16,368 | $ 14,377 | $ 75,173 | $ 56,386 | $ 73,056 |
Basic EPS | $ 0.45 | $ 0.10 | $ 0.18 | $ 0.17 | $ 0.16 | $ 0.15 | $ 0.20 | $ 0.17 | $ 0.90 | $ 0.68 | $ 0.84 |
Diluted EPS | $ 0.45 | $ 0.09 | $ 0.18 | $ 0.17 | $ 0.16 | $ 0.15 | $ 0.20 | $ 0.17 | $ 0.90 | $ 0.68 | $ 0.84 |
Schedule II Valuation of Qual63
Schedule II Valuation of Qualifying Accounts and Reserves (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Valuation Allowances and Reserves, Balance Beginning of Period | $ 1,475 | $ 1,475 | $ 1,262 |
Valuation Allowances and Reserves, Charged to Cost and Expense | 0 | 0 | 318 |
Valuation Allowances and Reserves, Charged to Other Accounts | 0 | 0 | 0 |
Valuation Allowances and Reserves, Deductions | 0 | 0 | 105 |
Valuation Allowances and Reserves, Balance End of Period | $ 1,475 | $ 1,475 | $ 1,475 |