0001564590-21-009409 | 10-K | XBRL Viewer

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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2020	Feb. 19, 2021	Jun. 30, 2020
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Trading Symbol	HUBG
Entity Registrant Name	HUB GROUP, INC.
Entity Central Index Key	0000940942
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Public Float			$ 1,552,627,202
Title of 12(b) Security	Class A Common Stock, par value $0.01 per share
Security Exchange Name	NASDAQ
Entity File Number	0-27754
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-4007085
Entity Address, Address Line One	2000 Clearwater Drive
Entity Address, City or Town	Oak Brook
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60523
City Area Code	630
Local Phone Number	271-3600
Document Annual Report	true
Document Transition Report	false
ICFR Auditor Attestation Flag	true
Documents Incorporated by Reference	The Registrant’s definitive Proxy Statement for the Annual Meeting of Stockholders to be held on May 24, 2021 (the “Proxy Statement”) is incorporated by reference in Part III of this Form 10-K to the extent stated herein. Except with respect to information specifically incorporated by reference in this Form 10-K, the Proxy Statement is not deemed to be filed as a part hereof.
Class A Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		33,771,710
Class B Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		662,296

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
CURRENT ASSETS:
Cash and cash equivalents	$ 124,506	$ 168,729
Accounts receivable trade, net	518,975	443,539
Other receivables	1,265	3,237
Prepaid taxes	1,336	630
Prepaid expenses and other current assets	26,753	24,086
TOTAL CURRENT ASSETS	672,835	640,221
Restricted investments	23,353	22,601
Property and equipment, net	671,101	663,165
Right-of-use assets - operating leases	43,573	35,548
Right-of-use assets - financing leases	3,557	5,865
Other intangibles, net	163,953	120,967
Goodwill, net	508,555	484,459
Other assets	18,469	18,748
TOTAL ASSETS	2,105,396	1,991,574
CURRENT LIABILITIES:
Accounts payable trade	285,320	257,247
Accounts payable other	12,680	11,585
Accrued payroll	23,044	45,540
Accrued other	102,613	86,686
Lease liability - operating leases	10,093	8,567
Lease liability - financing leases	1,793	3,048
Current portion of long-term debt	93,562	94,691
TOTAL CURRENT LIABILITIES	529,105	507,364
Long-term debt	176,797	186,934
Non-current liabilities	42,910	36,355
Lease liability - operating leases	36,328	28,518
Lease liability - financing leases	8	1,820
Deferred taxes	162,325	155,304
STOCKHOLDERS' EQUITY:
Preferred stock, $.01 par value; 2,000,000 shares authorized; no shares issued or outstanding in 2020 and 2019
Additional paid-in capital	186,058	179,637
Purchase price in excess of predecessor basis, net of tax benefit of $10,306	(15,458)	(15,458)
Retained earnings	1,253,160	1,179,601
Accumulated other comprehensive loss	(191)	(186)
Treasury stock; at cost, 7,675,084 shares in 2020 and 7,870,888 shares in 2019	(266,065)	(268,734)
TOTAL STOCKHOLDERS' EQUITY	1,157,923	1,075,279
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	2,105,396	1,991,574
Class A Common Stock [Member]
STOCKHOLDERS' EQUITY:
Common stock	412	412
Class B Common Stock [Member]
STOCKHOLDERS' EQUITY:
Common stock	$ 7	$ 7

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Purchase price in excess of predecessor basis, tax benefit		$ 10,306
Treasury stock, shares	7,675,084	7,870,888
Class A Common Stock [Member]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	97,337,700	97,337,700
Common stock, shares issued	41,224,792	41,224,792
Common stock, shares outstanding	33,549,708	33,353,904
Class B Common Stock [Member]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	662,300	662,300
Common stock, shares issued	662,296	662,296
Common stock, shares outstanding	662,296	662,296

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Revenue	$ 3,495,644	$ 3,668,117	$ 3,683,593
Transportation costs	3,070,207	3,147,047	3,237,992
Gross margin	425,437	521,070	445,601
Costs and expenses:
Salaries and benefits	188,777	235,963	222,786
General and administrative	99,597	104,206	81,272
Depreciation and amortization	31,237	28,481	16,624
Total costs and expenses	319,611	368,650	320,682
Operating income	105,826	152,420	124,919
Other income (expense):
Interest expense	(9,746)	(10,994)	(9,611)
Interest income	403	2,103	1,359
Other, net	(383)	341	58
Total other income (expense)	(9,726)	(8,550)	(8,194)
Income from continuing operations before income taxes	96,100	143,870	116,725
Income tax expense	22,541	36,699	29,064
Income from continuing operations	73,559	107,171	87,661
Income from discontinued operations, net of income taxes			114,079
Net income	73,559	107,171	201,740
Other comprehensive (loss) income:
Foreign currency translation adjustments	(5)	(4)	12
Total comprehensive income	$ 73,554	$ 107,167	$ 201,752
Earnings per share from continuing operations
Basic	$ 2.22	$ 3.22	$ 2.62
Diluted	2.19	3.20	2.61
Earnings per share from discontinued operations
Basic			3.42
Diluted			3.40
Earnings per share net income
Basic	2.22	3.22	6.04
Diluted	$ 2.19	$ 3.20	$ 6.01
Basic weighted average number of shares outstanding	33,180	33,284	33,393
Diluted weighted average number of shares outstanding	33,543	33,480	33,560

CONSOLIDATED STATEMENTS OF STOCKHOLDERS EQUITY - USD ($) $ in Thousands	Total	Cumulative Effect Period Of Adoption Adjustment [Member]	Class A and B Common Stock [Member]	Additional Paid-in Capital [Member]	Purchase Price Of Excess Of Predecessor Basis, Net Of Tax [Member]	Retained Earnings [Member]	Retained Earnings [Member] Cumulative Effect Period Of Adoption Adjustment [Member]	Accumulated Other Comprehensive Income [Member]	Treasury Stock [Member]
Beginning Balance at Dec. 31, 2017	$ 769,872		$ 419	$ 173,011	$ (15,458)	$ 870,716		$ (194)	$ (258,622)
Beginning Balance (in shares) at Dec. 31, 2017			41,887,088						(7,777,722)
Stock tendered for payments of withholding taxes	(4,270)								$ (4,270)
Stock tendered for payments of withholding taxes (in shares)									(87,381)
Issuance of restricted stock awards, net of forfeitures				(14,271)					$ 14,271
Issuance of restricted stock awards, net of forfeitures (in shares)									434,020
Share-based compensation expense	13,480			13,480
Net income	201,740					201,740
Foreign currency translation adjustment	12							12
Ending Balance at Dec. 31, 2018	980,834	$ (26)	$ 419	172,220	(15,458)	1,072,456	$ (26)	(182)	$ (248,621)
Ending Balance (in shares) at Dec. 31, 2018			41,887,088						(7,431,083)
Accounting Standards Update [Extensible List]		us-gaap:AccountingStandardsUpdate201602Member					us-gaap:AccountingStandardsUpdate201602Member
Purchase of treasury shares	(24,998)								$ (24,998)
Purchase of treasury shares (in shares)									(626,320)
Stock tendered for payments of withholding taxes	(3,984)								$ (3,984)
Stock tendered for payments of withholding taxes (in shares)									(98,260)
Issuance of restricted stock awards, net of forfeitures				(8,869)					$ 8,869
Issuance of restricted stock awards, net of forfeitures (in shares)									284,775
Share-based compensation expense	16,286			16,286
Net income	107,171					107,171
Foreign currency translation adjustment	(4)							(4)
Ending Balance at Dec. 31, 2019	$ 1,075,279		$ 419	179,637	(15,458)	1,179,601		(186)	$ (268,734)
Ending Balance (in shares) at Dec. 31, 2019			41,887,088						(7,870,888)
Purchase of treasury shares (in shares)	(148,242)
Stock tendered for payments of withholding taxes	$ (7,963)								$ (7,963)
Stock tendered for payments of withholding taxes (in shares)									(148,242)
Issuance of restricted stock awards, net of forfeitures				(10,632)					$ 10,632
Issuance of restricted stock awards, net of forfeitures (in shares)									344,046
Share-based compensation expense	17,053			17,053
Net income	73,559					73,559
Foreign currency translation adjustment	(5)							(5)
Ending Balance at Dec. 31, 2020	$ 1,157,923		$ 419	$ 186,058	$ (15,458)	$ 1,253,160		$ (191)	$ (266,065)
Ending Balance (in shares) at Dec. 31, 2020			41,887,088						(7,675,084)

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net income	$ 73,559	$ 107,171	$ 201,740
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	123,679	116,887	83,910
Deferred taxes	7,463	1,821	39,499
Compensation expense related to share-based compensation plans	17,053	16,286	13,480
Contingent consideration adjustment			(4,703)
Loss (gain) on sale of assets	907	(745)	(1,007)
Other operating activities	6,385
Gain on Disposition			(132,448)
Transaction costs for Disposition			(5,798)
Changes in operating assets and liabilities, net of acquisitions:
Restricted investments	(752)	(3,365)	827
Accounts receivable, net	(47,219)	32,732	(31,475)
Prepaid taxes	(707)	(14)	11,472
Prepaid expenses and other current assets	(2,508)	3,447	(1,750)
Other assets	(2,177)	(3,786)	(8,029)
Accounts payable	5,594	(14,933)	5,521
Accrued expenses	(4,408)	(122)	43,476
Non-current liabilities	(1,915)	(870)	(3,876)
Net cash provided by operating activities	174,954	254,509	210,839
Cash flows from investing activities:
Proceeds from sale of equipment	3,289	10,025	10,975
Purchases of property and equipment	(115,306)	(94,847)	(199,791)
Acquisitions, net of cash acquired	(84,845)	(734)	(248,656)
Proceeds from the disposition of discontinued operations		19,439	227,986
Net cash used in investing activities	(196,862)	(66,117)	(209,486)
Cash flows from financing activities:
Proceeds from issuance of debt	187,475	56,494	172,146
Repayments of long-term debt	(198,741)	(105,653)	(133,436)
Stock tendered for payments of withholding taxes	(7,963)	(3,984)	(4,270)
Purchase of treasury stock		(24,998)
Finance lease payments	(3,066)	(2,954)	(2,889)
Net cash (used in) provided by financing activities	(22,295)	(81,095)	31,551
Effect of exchange rate changes on cash and cash equivalents	(20)	(3)	(26)
Net (decrease) increase in cash and cash equivalents	(44,223)	107,294	32,878
Cash and cash equivalents beginning of the year	168,729	61,435	28,557
Cash and cash equivalents end of the year	124,506	168,729	61,435
Supplemental disclosures of cash paid for:
Interest	9,458	11,262	9,677
Income taxes	$ 18,388	$ 40,289	$ 13,606

Description of Business and Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Description of Business and Summary of Significant Accounting Policies

NOTE 1. Description of Business and Summary of Significant Accounting Policies

For all periods presented in our Consolidated Statements of Income and Comprehensive Income, all sales, costs, expenses, gains and income taxes attributable to Mode Transportation, LLC (“Mode”) have been reported under the captions, “Income from Discontinued Operations, Net of Income Taxes.” Cash flows used in or provided by Mode have been reported in the Consolidated Statements of Cash Flows under operating and investing activities.

Business: Hub Group, Inc. (“Hub”, “we”, “us” or “our”) provides intermodal transportation services utilizing primarily third-party arrangements with railroads. Local pick-up and delivery services (referred to as “drayage”) can be provided by our subsidiary, Hub Group Trucking, Inc. (“HGT”), or a third-party company. We offer a dedicated fleet of equipment and drivers through our dedicated line of business. We also arrange for transportation of freight by truck and perform logistics services.

On December 9, 2020, we acquired NonstopDelivery, LLC (“NSD”). Refer to Note 5 “Acquisitions” for additional information regarding NSD.

On December 3, 2018, a subsidiary of Hub Group, Inc. merged with CaseStack, Inc. (“CaseStack”) (the “CaseStack Acquisition”). Refer to Note 5 “Acquisitions” for additional information regarding CaseStack.

On August 31, 2018, we sold Mode, a direct wholly-owned subsidiary of the Company (the “Disposition”). Refer to Note 4 “Discontinued Operations” for additional information regarding results from discontinued operations.

Principles of Consolidation: The consolidated financial statements include our accounts and all entities in which we have more than a 50% equity ownership or otherwise exercise unilateral control. All significant intercompany balances and transactions have been eliminated.

Cash and Cash Equivalents: We consider as cash equivalents all highly liquid instruments with an original maturity of three months or less. As of December 31, 2020 and 2019, our cash and temporary investments were with high quality financial institutions in demand deposit accounts (“DDAs”), savings accounts and an interest-bearing checking account.

Accounts Receivable and Allowance for Uncollectible Accounts: On January 1, 2020, we adopted ASU 2016-13 Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (ASC 326), which replaces the incurred loss methodology with an expected loss methodology that is referred to as the Current Expected Credit Loss (“CECL”). The measurement of expected credit losses under the CECL methodology is applicable to financial assets measured at amortized cost, including trade receivables. Results for reporting periods beginning January 1, 2020 are presented under ASC 326 while prior period amounts continue to be reported in accordance with previously applicable generally accepted accounting principles. The impact of adopting the standard was immaterial. In accordance with the standard, trade receivables are reported at amortized cost net of the allowance for credit losses.

The allowance for credit losses is a valuation account that is deducted from the trade receivables’ amortized cost basis to present the net amount expected to be collected on the receivables. Trade receivables are charged off against the allowance when we believe the uncollectibility of a receivable balance is confirmed, and the expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged-off. Management continuously reviews and assesses the environment, especially with the COVID-19 pandemic, and its potential impact on the credit worthiness and collectability of our accounts receivable with customers most affected by the COVID-19 pandemic. Our allowance for credit losses is presented in the allowance for uncollectible trade accounts and is immaterial at December 31, 2020 and 2019. The allowance for uncollectible trade accounts also includes estimated adjustments to revenue for items such as billing disputes. Our reserve for uncollectible accounts was approximately $8.3 million and $6.9 million as of December 31, 2020 and 2019, respectively. Receivables are written off once collection efforts have been exhausted. Recoveries of receivables previously charged off are recorded when received.

Property and Equipment: Property and equipment are stated at cost. Depreciation of property and equipment is computed using the straight-line method at rates adequate to depreciate the cost of the applicable assets over their expected useful lives: building and improvements, up to 40 years; leasehold improvements, the shorter of useful life or lease term; computer equipment and software, up to 10 years; furniture and equipment, up to 10 years; and transportation equipment up to 16 years. Direct costs related to internally developed software projects are capitalized and amortized over their expected useful life on a straight-line basis not to exceed 10 years. Interest is capitalized on qualifying assets under development for internal use. Maintenance and repairs are charged to operations as incurred and major improvements are capitalized. The cost of assets retired or otherwise disposed of and the accumulated depreciation thereon are removed from the accounts with any gain or loss realized upon sale or disposal charged or

credited to operations. We review long-lived assets for impairment when events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. In the event that the undiscounted future cash flows resulting from the use of the asset is less than the carrying amount, an impairment loss equal to the excess of the assets carrying amount over its fair value, less cost to dispose, is recorded.

Capitalized Internal Use Software and Cloud Computing Costs: We capitalize internal and external costs, which include costs related to the development of our cloud computing or hosting arrangements, incurred to develop internal use software per ASC Subtopic 350-40. Internal use software has both the of the following characteristics: the software is acquired, internally developed, or modified solely to meet our needs and during the development or modification, no substantive plan exists or is being developed to market the software externally. Only costs incurred during the application development stage and costs to develop or obtain software that allows for access to or conversion of old data by new systems are capitalized. Capitalization of costs begins when the preliminary project stage is complete, management has committed to funding the project and it is probable the project will be completed, and the software will be used to perform its intended function. The measurement of the costs to capitalize include fees paid to third parties, costs incurred to obtain software from third parties, travel expenses incurred by employees in their duties associated with developing software, payroll related costs for employees who spend time directly on the project and interest costs incurred while developing internal-use software or implementing a hosting arrangement. Capitalization ceases no later than when the project is substantially complete and ready for its intended use, after all substantial testing is complete.

Goodwill and Other Intangibles: In January 2017, the FASB issued ASU No. 2017-04 Intangibles – Goodwill and other (Topic 350): simplifying the test for goodwill impairment. This ASU simplifies how all entities assess goodwill for impairment by eliminating step two from the goodwill impairment test. As amended, the goodwill impairment test will consist of one step comparing the fair value of a reporting unit with its carrying amount. An entity should recognize a goodwill impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. We adopted this standard on January 1, 2020, as required. The adoption of Topic 350 had no material effect on our financial statements.

Goodwill represents the excess of purchase price over the fair market value of net assets acquired in connection with our business combinations. Goodwill and intangible assets that have indefinite useful lives are not amortized but are subject to annual impairment tests.

We test goodwill for impairment annually in the fourth quarter or when events or changes in circumstances indicate the carrying value of this asset might exceed the current fair value. We test goodwill for impairment at the reporting unit level. Since the Disposition, we only have one reporting unit. We assess qualitative factors such as current company performance and overall economic factors to determine if it is more-likely-than-not that the fair value of our reporting unit was less than its carrying value and whether it is necessary to perform the quantitative goodwill impairment test. In the quantitative goodwill test, a company compares the carrying value of a reporting unit to its fair value. If the fair value of the reporting unit is less than the carrying amount, then a goodwill impairment charge will be recognized in the amount by which carrying amount exceeds fair value, limited to the total amount of goodwill allocated to that reporting unit. We performed our annual assessment in the fourth quarter of 2020 and 2019 as required and determined it was not more-likely-than-not that the fair value of our reporting unit was less than its carrying value.

We evaluate the potential impairment of finite-lived acquired intangible assets when impairment indicators exist. If the carrying value is no longer recoverable based upon the undiscounted future cash flows of the asset, the amount of the impairment is the difference between the carrying amount and the fair value of the asset.

Claims Accruals: We purchase insurance coverage for a portion of expenses related to employee injuries, vehicular collisions, accidents, and cargo damage. Certain insurance arrangements include high self-insurance retention limits or deductibles applicable to each claim. We have umbrella policies to limit our exposure to large claim costs.

Our claims accrual policy for all self-insured claims is to recognize a liability at the time of the incident based on our analysis of the nature and severity of the claims and analyses provided by third-party claims administrators, as well as legal and regulatory factors. Our safety and claims personnel work directly with representatives from the insurance companies to continually update the estimated cost of each claim. The ultimate cost of a claim develops over time as additional information regarding the nature, timing, and extent of damages claimed becomes available. Accordingly, we use an actuarial method to develop current claim information to derive an estimate of our ultimate claim liability. This process involves the use of loss-development factors based on our historical claims experience. In doing so, the recorded liability factors in future growth of claims and an allowance for incurred-but-not-reported claims. We do not discount our estimated losses. In addition, we record receivables for amounts expected to be reimbursed for payments made in excess of self-insurance levels on covered claims related to auto liability and workers’ compensation. At December 31, 2020 and 2019, we had an accrual of approximately $32.1 million and $20.0 million, respectively for estimated claims. We had no significant receivables recorded for payments in excess of our self-insured levels. Our claims accruals are classified in accrued other and non-current liabilities in the consolidated balance sheets, based on when the claim is estimated to be paid.

Concentration of Credit Risk: Our financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. We place our cash and temporary investments with high quality financial institutions in DDAs, savings accounts and an interest-bearing checking account. We primarily serve customers located throughout the United States with no significant concentration in any one region. One customer accounted for more than 10% of our revenue for the year ended December 31, 2020. No one customer accounted for more than 10% of revenue in 2019 or 2018. We review a customer’s credit history before extending credit. In addition, we routinely assess the financial strength of our customers and, as a consequence, believe that our trade accounts receivable risk is limited.

Revenue Recognition: In accordance with the Accounting Standards Codification (ASC) topic 606, Revenue from Contracts with Customers our significant accounting policy for revenue is as follows:

Revenue is recognized when we transfer services to our customer in an amount that reflects the consideration we expect to receive. We account for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. We generally recognize revenue over time because of continuous transfer of control to the customer. Since control is transferred over time, revenue and related transportation costs are recognized based on relative transit time, which is based on the extent of progress towards completion of the related performance obligation. We enter into contracts that can include various combinations of services, which are capable of being distinct and accounted for as separate performance obligations. Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction, that are collected by the Company from a customer, are excluded from revenue. Further, in most cases, we report our revenue on a gross basis because we are the primary obligor as we are responsible for providing the service desired by the customer. Our customers view us as responsible for fulfillment including the acceptability of the service. Service requirements may include, for example, on-time delivery, handling freight loss and damage claims, setting up appointments for pick-up and delivery and tracing shipments in transit. We have discretion in setting sales prices and as a result, the amount we earn varies. In addition, we have the discretion to select our vendors from multiple suppliers for the services ordered by our customers. These factors, discretion in setting prices and discretion in selecting vendors, further support reporting revenue on a gross basis for most of our revenue.

Provision for Income Taxes: Deferred income taxes are recognized for the future tax effects of temporary differences between financial and income tax reporting using tax rates in effect for the years in which the differences are expected to reverse. We believe that it is more likely than not that our deferred tax assets will be realized based on future taxable income projections with two exceptions for which we have established valuation allowances. We have established valuation allowances of $0.1 million related to state tax net operating losses and $6.4 million related to federal and state tax credit carryforwards. In the event the probability of realizing the remaining deferred tax assets does not meet the more likely than not threshold in the future, a valuation allowance would be established for the deferred tax assets deemed unrecoverable.

Tax liabilities are recorded when, in management’s judgment, a tax position does not meet the more likely than not threshold for recognition as prescribed by the guidance. For tax positions that meet the more likely than not threshold, a tax liability may be recorded depending on management’s assessment of how the tax position will ultimately be settled. We recognize interest expense and penalties related to income tax liabilities in our provision for income taxes.

Earnings Per Common Share: Basic earnings per common share are based on the average quarterly weighted average number of Class A and Class B shares of common stock outstanding. Diluted earnings per common share are adjusted for restricted stock using the treasury stock method.

Stock Based Compensation: Share-based compensation includes the restricted stock awards expected to vest based on the grant date fair value. Compensation expense is amortized straight-line over the vesting period and is included in salaries and benefits.

New Pronouncements: In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement. This standard is effective for public business entities in fiscal years beginning after December 15, 2019. This standard requires changes to the disclosure requirements for fair value measurements for certain Level 3 items and specifies that some of the changes must be applied prospectively, while others should be applied retrospectively. We adopted the standard as of January 1, 2020, but it did not have an impact on our financial statements.

In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. This ASU clarifies and simplifies accounting for income taxes by eliminating certain exceptions for intraperiod tax allocation principles, the methodology for calculating income tax rates in an interim period, and recognition of deferred taxes for outside basis difference in an investment, among other updates. The effective date of this ASU is for fiscal years and interim periods beginning after December 15, 2020. We adopted the standard as of January 1, 2021, but it did not have an impact on our financial statements.

Use of Estimates: The preparation of financial statements in conformity with United States generally accepted accounting principles requires us 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 revenue and expense during the reporting period. Significant estimates include the allowance for uncollectible trade accounts, exposure for self-insured claims under our insurance policies and useful lives of assets. Actual results could differ from these estimates.

Capital Structure

12 Months Ended

Dec. 31, 2020

Equity [Abstract]

Capital Structure

NOTE 2. Capital Structure

We have authorized common stock comprised of Class A Common Stock and Class B Common Stock. The rights of holders of Class A Common Stock and Class B Common Stock are identical, except each share of Class B Common Stock entitles its holder to approximately 84 votes, while each share of Class A Common Stock entitles its holder to one vote. We have authorized 2,000,000 shares of preferred stock.

Earnings Per Share

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Earnings Per Share

NOTE 3. Earnings Per Share

The following is a reconciliation of our earnings per share (in thousands, except for per share data):

	Years Ended, December 31,
	2020		2019		2018

Net income from continuing operations for basic and diluted earnings per share	$	73,559	$	107,171	$	87,661

Net income from discontinued operations for basic and diluted earnings per share		-		-		114,079

Net income	$	73,559	$	107,171	$	201,740

Weighted average shares outstanding - basic		33,180		33,284		33,393

Dilutive effect of restricted stock		363		196		167

Weighted average shares outstanding - diluted		33,543		33,480		33,560

Earnings per share from continuing operations
Basic	$	2.22	$	3.22	$	2.62
Diluted	$	2.19	$	3.20	$	2.61
Earnings per share from discontinued operations
Basic	$	-	$	-	$	3.42
Diluted	$	-	$	-	$	3.40
Earnings per share net income
Basic	$	2.22	$	3.22	$	6.04
Diluted	$	2.19	$	3.20	$	6.01

Discontinued Operations

12 Months Ended

Dec. 31, 2020

Discontinued Operations And Disposal Groups [Abstract]

Discontinued Operations

NOTE 4. Discontinued Operations

On August 31, 2018, we sold our Mode subsidiary. Results associated with Mode are classified as income from discontinued operations, net of income taxes, in our Consolidated Statements of Income for the year ended December 31, 2018.

Proceeds from the sale of Mode have been presented in the Consolidated Statements of Cash Flows under investing activities for the year ended December 31, 2018. The reported operating cash used of $4.3 million and investing cash flows of $245.3 million from discontinued operations exclude the effect of income taxes.

Acquisitions

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

Acquisitions

NOTE 5. Acquisitions

NonstopDelivery, LLC Acquisition

On December 9, 2020, we acquired 100% of the equity interest of NSD. Total consideration for the transaction was $103.3 million which consisted of cash paid of $89.7 million and the settlement of Hub’s accounts receivable due from NSD of $13.6 million.

The acquisition of NSD expanded our logistics service offering to include last mile logistics. NSD provides residential last mile delivery services through a non-asset business model, working with a network of over 170 carriers throughout the country. The financial results, since the acquisition date, of NSD are included in our logistics line of business.

The initial accounting for the acquisition of NSD is incomplete as we, with the support of our valuation specialist, are in the process of finalizing the fair market value calculations of the acquired net assets. In addition, the Company is in the preparation and final review process of the applicable future cash flows used in determining the purchase accounting. Finally, certain post-closing activities outlined in the acquisition agreement remain incomplete. As a result, the amounts recorded in the consolidated financial statements related to the NSD acquisition are preliminary and the measurement period remains open. The following table summarizes the preliminary allocation of the total consideration to the assets acquired and liabilities assumed as of the date of the acquisition (in thousands):

	December 9, 2020
Cash and cash equivalents	$	4,829
Accounts receivable trade		26,250
Prepaid expenses and other current assets		207
Property and equipment		2,907
Right of use assets - operating leases		1,105
Goodwill, net		24,315
Other intangibles		56,736
Other assets		42
Total assets acquired	$	116,391

Accounts payable trade	$	9,972
Accrued payroll		1,324
Accrued other		578
Lease liability - operating leases		364
Lease liability - financing leases		864
Total liabilities assumed	$	13,102

Total consideration	$	103,289

Cash paid, net	$	84,845

The NSD acquisition was accounted for as a purchase business combination in accordance with ASC 805 “Business Combinations.” Assets acquired and liabilities assumed were recorded in the accompanying consolidated balance sheet at their estimated fair values as of December 9, 2020 with the remaining unallocated purchase price recorded as goodwill. The goodwill recognized in the NSD acquisition was primarily attributable to potential expansion and future development of the acquired business.

Tax history and attributes are not inherited in an equity purchase of this kind, however, the goodwill and other intangibles recognized in this purchase will be fully tax deductible over a period of 15 years.

We incurred approximately $1.0 million of transaction costs associated with this transaction prior to the closing date that are reflected in general and administrative expense in the accompanying Consolidated Statements of Income for the year ended December 31, 2020.

The components of “Other intangibles” listed in the above table as of the acquisition date are preliminarily estimated as follows (in thousands):

			Accumulated		Balance at		Estimated Useful
	Amount		Amortization		December 31, 2020		Life
Customer relationships	$	52,683	$	293	$	52,390	15 years
Agent relationships	$	2,432	$	51	$	2,381	4 years
Trade name	$	1,621	$	90	$	1,531	18 months

The above intangible assets are amortized using the straight-line method. Amortization expense related to this acquisition for the year ended December 31, 2020 was $0.4 million. The intangible assets have a weighted average useful life of approximately 14.08 years.

From the date of the acquisition through December 31, 2020, NSD’s revenue was $10.2 million and operating income was $0.9 million.

CaseStack Acquisition

On December 3, 2018, we completed the CaseStack Acquisition. Total consideration for the transaction was $252.9 million, which included $249.4 million in cash, of which $248.7 million was paid in December 2018 and $0.7 million in April 2019. There was also a deferred purchase consideration of $3.5 million. The deferred purchase consideration was paid equally over the twenty-four months following the transaction. Prior to being paid, it was included in Accrued Other in our Consolidated Balance Sheets.

The CaseStack Acquisition expanded our logistics service offering to include transportation and warehousing consolidation solutions for consumer goods companies selling into the North American retail channel. The transaction also added scale to our truck brokerage service offering, particularly in the less-than-truckload segment of the market.

The following table summarizes the total purchase price allocated to the net assets acquired (in thousands):

Cash paid	$	249,389
Deferred purchase consideration		3,469
Total consideration	$	252,858

The following table summarizes the allocation of the total consideration to the assets acquired and liabilities assumed as of the date of the acquisition (in thousands):

Accounts receivable trade	$	31,896
Prepaid expenses and other current assets		694
Property and equipment		3,247
Deferred tax assets		6,433
Goodwill, net		166,070
Other intangibles		75,600
Other assets		120
Total assets acquired	$	284,060

Accounts payable trade	$	24,542
Accrued payroll		2,811
Accrued other		3,849
Total liabilities assumed	$	31,202

Total consideration	$	252,858

The CaseStack Acquisition was accounted for as a purchase business combination in accordance with ASC 805 “Business Combinations.” Assets acquired and liabilities assumed were recorded in the accompanying consolidated balance sheet at their estimated fair values as of December 3, 2018 with the remaining unallocated purchase price recorded as goodwill. The goodwill recognized in the transaction was primarily attributable to potential expansion and future development of the acquired business.

Tax history and attributes including net operating loss carryovers and other deferred tax assets are inherited in an equity purchase such as this, while goodwill is not tax deductible.

We incurred approximately $1.4 million of transaction costs prior to the closing date that are reflected in general and administrative expense in the accompanying Consolidated Statements of Income for the year ended December 31, 2018.

From the date of the transaction through December 31, 2018, CaseStack’s revenue was $20.8 million and operating income was $0.7 million.

The following unaudited pro forma consolidated results of operations presents the effects of NSD as though it had been acquired as of January 1, 2019 and CaseStack as though it had been owned as of January 1, 2018 (in thousands, except for per share amounts):

	Twelve Months Ended
	December 31, 2020		December 31, 2019		December 31, 2018
Revenue	$	3,584,538	$	3,733,507	$	3,912,745
Income from continuing operations	$	84,874	$	107,998	$	133,310
Earnings per share (1)
Basic	$	2.56	$	3.24	$	2.81
Diluted	$	2.53	$	3.23	$	2.79

(1)

Earnings per share is from continuing operations.

The unaudited pro forma consolidated results for the annual periods were prepared using the acquisition method of accounting and are based on the historical financial information of Hub, NSD and CaseStack. The historical financial information has been adjusted to give effect to the pro forma adjustments that are: (i) directly attributable to the acquisition, (ii) factually supportable and (iii) expected to have a continuing impact on the combined results. The unaudited pro forma consolidated results are not necessarily indicative of what our consolidated results of operations actually would have been had we completed the NSD acquisition on January 1, 2019 and CaseStack Acquisition on January 1, 2018.

Revenue from Contract with Customers

12 Months Ended

Dec. 31, 2020

Revenue From Contract With Customer [Abstract]

Revenue from Contracts with Customers

NOTE 6. Revenue from Contracts with Customers

See Note 1 – Description of Business and Summary of Significant Accounting Policies for significant accounting policy for revenue.

Hub offers comprehensive multimodal solutions including intermodal, logistics, truck brokerage, and dedicated services. Hub has full time employees located throughout the United States, Canada and Mexico.

Intermodal. As an intermodal provider, we arrange for the movement of our customers’ freight in containers and trailers, typically over long distances of 750 miles or more. We contract with railroads to provide transportation for the long-haul portion of the shipment between rail terminals. Local pickup and delivery services between origin or destination and rail terminals (referred to as “drayage”) are provided by HGT and third-party local trucking companies.

Logistics. Hub’s logistics operation offers a wide range of transportation management services and technology solutions including shipment optimization, load consolidation, mode selection, carrier management, load planning and execution and web-based shipment visibility. Our multi-modal transportation capabilities include small parcel, heavyweight, expedited, less-than-truckload, truckload, intermodal, last mile delivery, railcar and international shipping. We leverage proprietary technology along with collaborative relationships with retailers and logistics providers to deliver cost savings and performance-enhancing supply chain services to consumer-packaged goods clients. We contract with third-party warehouse providers in seven markets across North America to which our customers ship their goods to be stored and eventually consolidated, along with goods from other customers into full truckload shipments destined to major North American retailers. These services offer our customers shipment visibility, transportation cost savings, high service levels and compliance with retailers’ increasingly stringent supply chain requirements.

On December 9, 2020, we acquired NSD. NSD provides basic, residential last mile delivery services through a non-asset business model, working with a network of over 170 carriers throughout the country. The financial results of NSD since the acquisition are included in our logistics line of business.

Truck Brokerage. We operate one of the largest truck brokerage operations, providing customers with an over the road service option for their transportation needs. Our brokerage does not operate any trucks; instead, we match customers’ needs with carriers’ capacity to provide the most effective service and price combination. We have contracts with a substantial base of carriers allowing us to meet the varied needs of our customers.

Dedicated. Our dedicated operation contracts with customers who seek to outsource a portion of their trucking transportation needs. We offer a dedicated fleet of equipment and drivers to each customer, as well as the management and infrastructure to operate according to the customer’s high service expectations. Contracts with customers generally include fixed and variable pricing arrangements and may include charges for early termination which serves to reduce the financial risk we bear with respect to the utilization of our equipment.

The following table summarizes our disaggregated revenue by business line (in thousands) for the years ended December 31:


	2020		2019		2018
Intermodal	$	2,091,984	$	2,166,382	$	2,219,739
Logistics		704,824		769,195		673,715
Truck brokerage		431,127		433,793		497,282
Dedicated		267,709		298,747		292,857
Total revenue	$	3,495,644	$	3,668,117	$	3,683,593

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

NOTE 7. Goodwill and Other Intangible Assets

In accordance with the FASB issued guidance in the Intangibles-Goodwill and Other Topic of the Codification, we completed the required annual impairment test. We performed a qualitative assessment on goodwill and determined it was not, more-likely-than-not, that the fair value of our reporting unit was less than its carrying value. There were no accumulated impairment losses of goodwill at the beginning of the period.

The following table presents the carrying amount of goodwill (in thousands):

	Total
Balance at January 1, 2019	$	483,584
Acquisition	$	1,094
Other		(219	)
Balance at December 31, 2019	$	484,459
Acquisition		24,315
Other		(219	)
Balance at December 31, 2020	$	508,555

The changes noted as “other” in the table above for both 2020 and 2019 refer to the amortization of the income tax benefit of tax goodwill in excess of financial statement goodwill.

The components of the “Other intangible assets” are as follows (in thousands):

						Net
	Gross		Accumulated			Carrying
	Amount		Amortization			Value		Life
As of December 31, 2020:
Customer relationships	$	196,806	$	(36,765	)	$	160,041	5-15 years

Agent relationships	$	2,432	$	(51	)	$	2,381	4 years

Trade name	$	2,921	$	(1,390	)	$	1,531	18 months

Total	$	202,159	$	(38,206	)	$	163,953

						Net
	Gross		Accumulated			Carrying
	Amount		Amortization			Value		Life
As of December 31, 2019:
Customer relationships	$	144,123	$	(23,517	)	$	120,606	5-15 years

Trade name	$	1,300	$	(939	)	$	361	18 months

Total	$	145,423	$	(24,456	)	$	120,967

The above intangible assets are amortized using the straight-line method. Amortization expense was $13.8 million for each of the years ended December 31, 2020 and 2019. The remaining weighted average life of all definite lived intangible assets as of December 31, 2020 was 10.98 years. Amortization expense for the next five years is as follows (in thousands):

	Total
Year 1	$	17,943
Year 2		17,270
Year 3		16,675
Year 4		15,030
Year 5		14,472

Income Taxes

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Income Taxes

NOTE 8. Income Taxes

The following is a reconciliation of our effective tax rate to the federal statutory tax rate:

	Years Ended December 31,
	2020				2019				2018
United States federal statutory rate		21.0		%		21.0		%		21.0		%
Federal tax law changes		-				-				0.5
State taxes, net of federal benefit		3.6				3.5				3.7
Federal and state incentives		(1.1	)			(0.9	)			(0.9	)
State law changes		(0.2	)			0.7				-
Permanent differences		0.2				1.2				0.6
Net effective rate		23.5		%		25.5		%		24.9		%

The following is a summary of our provision for income taxes (in thousands):

	Years Ended December 31,
	2020		2019			2018
Current
Federal	$	11,913	$	31,209		$	(13,750	)
State and local		3,597		3,979			1,740
Foreign		11		84			(234	)
		15,521		35,272			(12,244	)

Deferred
Federal		6,548		(344	)		36,968
State and local		465		1,788			4,134
Foreign		7		(17	)		206
		7,020		1,427			41,308

Total provision	$	22,541	$	36,699		$	29,064

The following is a summary of our deferred tax assets and liabilities (in thousands):

	December 31,
	2020			2019
Accrued compensation		12,467			13,153
Other reserves		14,154			10,297
Tax credit carryforwards		8,715			6,669
Operating loss carryforwards		2,845			4,879
Lease accounting liability		11,669			10,195
Total gross deferred income taxes		49,850			45,193
Valuation allowances		(6,518	)		(4,713	)
Total deferred tax assets		43,332			40,480

Prepaids		(6,404	)		(4,774	)
Other receivables		-			(656	)
Property and equipment		(132,669	)		(124,964	)
Goodwill		(55,166	)		(55,195	)
Lease right-of-use asset		(11,418	)		(10,195	)
Total deferred tax liabilities		(205,657	)		(195,784	)

Total deferred taxes	$	(162,325	)	$	(155,304	)

We are subject to income taxation in the United States, numerous state jurisdictions, Mexico and Canada. Because income tax return formats vary among the states, we file both unitary and separate company state income tax returns. We do not permanently reinvest our foreign earnings, all amounts are accrued and accounted for, though not material.

We acquired a federal net operating loss carryforward of $4.1 million through the CaseStack Acquisition in December 2018. IRS loss limitation rules allowed us to utilize $1.3 million in both 2020 and 2019. The remaining net operating loss of $1.5 million has no expiration date. Our state tax net operating losses total $1.2 million. Some of those state losses have no expiration date while others will expire between December 31, 2021 and December 31, 2039. Management believes it is more likely than not that the loss carryforward deferred tax assets will be realized, except for fifty-five thousand dollars of state losses. A valuation allowance of fifty-five thousand dollars has been established.

Our federal incentive tax credit carryforward of $0.1 million expires between December 31, 2025 and December 31, 2028. Our state incentive tax credit carryforwards of $8.6 million expire between December 31, 2021 and December 31, 2025. Management believes it is more likely than not that the incentive carryforward deferred tax assets will be realized, except for $6.4 million of state tax credits. A valuation allowance of $6.4 million has been established.

As of December 31, 2020 and December 31, 2019, the amount of unrecognized tax benefits was $4.3 million and $4.1 million, respectively. Of these amounts, our income tax provision would decrease $3.7 million and $3.4 million, respectively, if recognized. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):

	2020			2019
Gross unrecognized tax benefits - beginning of the year	$	4,069		$	3,894
Gross (decreases) increases related to prior year tax positions		(52	)		74
Gross increases related to current year tax positions		1,484			506
Lapse of applicable statute of limitations		(1,209	)		(405	)
Gross unrecognized tax benefits - end of year	$	4,292		$	4,069

We estimate it is reasonably possible that our reserve could either increase or decrease by up to $1.0 million during the next twelve months.

We recognize interest expense and penalties related to income tax liabilities in our provision for income taxes. These amounts have been immaterial for the last three years.

On March 27, 2020, the Coronavirus Aid, Relief and Economic Security Act (the "CARES Act") was enacted in response to the coronavirus ("COVID-19") pandemic. Among other things, the CARES Act includes provisions related to refundable payroll tax credits, deferment of the employer portion of social security payments, net operating loss carryback periods, modifications to the net interest deduction limitations, and technical corrections to tax depreciation methods for qualified improvement property. Though some

provisions of the CARES Act do impact the Company, there was no material effect on the Company’s consolidated financial condition or results of operations for the year ended December 31, 2020. On December 27, 2020, the Consolidated Appropriations Act (“CAA”) was enacted in further response to the COVID-19 pandemic, in combination with omnibus spending for the 2021 federal fiscal year. The CAA extended many of the provisions enacted by the CARES Act, the extension of which likewise did not have a material impact on the Company’s consolidated financial statements for the year ended December 31, 2020.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Fair Value Measurement

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurement

NOTE 9. Fair Value Measurement

The carrying value of cash and cash equivalents, accounts receivable and accounts payable materially approximated fair value as of December 31, 2020 and 2019. As of December 31, 2020 and 2019, the fair value of the Company’s fixed-rate borrowings was $6.1 million and $3.8 million more than the historical carrying value of $270.4 million and $281.6 million, respectively. The fair value of the fixed-rate borrowings was estimated using an income approach based on current interest rates available to the Company for borrowings on similar terms and maturities.

We consider as cash equivalents all highly liquid instruments with an original maturity of three months or less. As of December 31, 2020 and 2019, our cash and temporary investments were with high quality financial institutions in DDAs, savings accounts and an interest-bearing checking account.

Restricted investments included $23.4 million and $22.6 million as of December 31, 2020 and 2019, respectively, of mutual funds which are reported at fair value. These investments relate to the nonqualified deferred compensation plan that is described in Note 15.

Our assets and liabilities measured at fair value are based on valuation techniques which consider prices and other relevant information generated by market transactions involving identical or comparable assets and liabilities. These valuation methods are based on either quoted market prices (Level 1) or inputs, other than quoted prices in active markets, that are observable either directly or indirectly (Level 2), or unobservable inputs (Level 3). Cash and cash equivalents, accounts receivable, accounts payable and mutual funds and related liabilities are defined as “Level 1,” while long-term debt is defined as “Level 2” of the fair value hierarchy in the Fair Value Measurements and Disclosures Topic of the Codification.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Property and Equipment

12 Months Ended

Dec. 31, 2020

Property Plant And Equipment [Abstract]

Property and Equipment

NOTE 10. Property and Equipment

Property and equipment consist of the following (in thousands):

	December 31,
	2020			2019
Land	$	24,708		$	24,708
Building and improvements		36,649			36,602
Leasehold improvements		7,686			7,300
Computer equipment and software		145,139			132,413
Furniture and equipment		14,732			14,057
Transportation equipment		862,247			800,300
Construction in process		33,467			18,331
		1,124,628			1,033,711
Less: Accumulated depreciation and amortization		(453,527	)		(370,546	)
Property and Equipment, net	$	671,101		$	663,165

Depreciation and amortization expense related to property and equipment was $95.3 million, $89.5 million and $75.1 million for 2020, 2019 and 2018, respectively.

Long-Term Debt and Financing Arrangements

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Long-Term Debt and Financing Arrangements

NOTE 11. Long-Term Debt and Financing Arrangements

On July 1, 2017, we entered into a five year, $350 million unsecured credit agreement (the "Credit Agreement"). Borrowings under the Credit Agreement generally bear interest at a variable rate equal to (i) LIBOR plus a specified margin based upon Hub’s total net leverage ratio (as defined in the Credit Agreement) (the "Total Net Leverage Ratio"), or (ii) the base rate (which is the highest of (a) the administrative agent's prime rate, (b) the federal funds rate plus 0.50% or (c) the sum of 1% plus one-month LIBOR) plus a specified margin based upon the Total Net Leverage Ratio. The specified margin for Eurodollar loans varies from 100.0 to 200.0 basis points per annum. The specified margin for base rate loans varies from 0.0 to 100.0 basis points per annum. Hub must also pay (1) a commitment fee ranging from 10.0 to 25.0 basis points per annum (based upon the Total Net Leverage Ratio) on the aggregate unused commitments and (2) a letter of credit fee ranging from 100.0 to 200.0 basis points per annum (based upon the Total Net Leverage Ratio) on the undrawn amount of letters of credit.

We have standby letters of credit that expire in 2021. As of December 31, 2020, our letters of credit were $37.7 million.

As of December 31, 2020, we had no borrowings under the Credit Agreement and our unused and available borrowings were $312.3 million. We were in compliance with our debt covenants as of December 31, 2020.

We have entered into various Equipment Notes (“Notes”) for the purchase of tractors, trailers and containers. The Notes are secured by the underlying equipment financed in the agreements.

Our outstanding debt is as follows (in thousands):


	December 31,			December 31,
	2020			2019
	(in thousands)

Interim funding for equipment received and expected to be converted to an equipment note in subsequent year; interest paid at a variable rate	$	8,902		$	-

Secured Equipment Notes due on various dates in 2025 commencing on various dates in 2020; interest is paid monthly at a fixed annual rate between 1.51% and 1.80%		74,494			-

Secured Equipment Notes due on various dates in 2024 commencing on various dates in 2017, 2019 and 2020; interest is paid monthly at a fixed annual rate between 2.50% and 3.59%		49,920			62,690

Secured Equipment Notes due on various dates in 2023 commencing on various dates from 2016 to 2019; interest is paid monthly at a fixed annual rate between 2.20% and 4.20%		112,668			153,350

Secured Equipment Notes due on various dates in 2022 commencing on various dates from 2015 to 2017; interest is paid monthly at a fixed annual rate of between 2.20% and 2.90%		8,943			16,892

Secured Equipment Notes due on various dates in 2021 commencing on various dates from 2014 to 2017; interest is paid monthly at a fixed annual rate between 2.02% and 2.96%		15,432			35,076

Secured Equipment Notes due on various dates in 2020 commencing on various dates from 2015 to 2016; interest is paid monthly at a fixed annual rate between 1.72% and 2.78%		-			13,617

		270,359			281,625

Less current portion		(93,562	)		(94,691	)
Total long-term debt	$	176,797		$	186,934

Aggregate principal payments, in thousands, due subsequent to December 31, 2020, are as follows:

Year 1	$	93,562
Year 2		77,205
Year 3		58,373
Year 4		26,863
Year 5		14,356
	$	270,359

Leases

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Leases

NOTE 12. Leases

In February 2016, the FASB issued ASC 842, Leases, (“ASC 842”) which requires lessees to recognize a right-of-use asset (“ROU”) and a lease obligation for all leases. We adopted ASC 842 as of January 1, 2019, in accordance with the standard. ASC 842 provides an option to apply the transition provisions as of the effective date. We elected this option when we adopted the new standard using a modified retrospective transition method and recognized a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption rather than in the earliest period presented. In addition, we elected to apply a package of practical expedients and as such did not reassess at the date of initial adoption (1) whether any expired or existing contracts are or contain

leases, (2) the lease classification for any expired or existing leases, or (3) initial direct costs for existing leases. Lessees can also make an accounting policy election to not recognize an asset and liability for leases with a term of twelve months or less which we elected.

As of December 31, 2020, Hub has recorded $47.1 million of ROU assets and $48.2 million of lease liabilities on our consolidated balance sheet. As of December 31, 2019, Hub has recorded $41.4 million of ROU assets and $42.0 million of Lease liabilities on our consolidated balance sheet. The lease liabilities recognized are measured based upon the present value of minimum future payments. The ROU assets are equal to lease liabilities upon initial recording, adjusted for prepaid and accrued rent balances which are recorded in the Consolidated Balance Sheets.

Hub currently does not have any variable lease payments that depend on an index or a rate (such as the Consumer Price Index or a market interest rate). Some leases have options to extend or terminate the agreement, which Management assesses in determining the estimated lease term. If any of the options to extend a lease are exercised, this change will be reflected as a remeasurement of the ROU asset and lease liability accordingly. As of December 31, 2020, the ROU asset and lease liabilities do not reflect any options to extend or terminate a lease as management is not reasonably certain it will exercise any of these options. Also, current leases do not contain any restrictions or covenants imposed by the leases or residual value guarantees.

Occasionally, Hub will sublease office space or parking spaces. The subleases do not relieve Hub of any of its primary obligations under the original agreement. Currently, Hub has subleases with an expected annual income totaling $0.4 million.

As of December 31, 2020, Hub signed new property lease contracts which have not commenced. Based on the present value of the lease payments, the estimated ROU assets and lease liabilities related to these contracts will total approximately $0.6 million.

Discount rates are not specified on the individual lease contracts at the commencement date. To determine the present value of the lease payments, Hub used its incremental borrowing rate which was determined based on Hub’s credit standing and factoring in the current 12-month LIBOR rate published at the time of the lease commencement. This incremental borrowing rate represents the rate of interest that Hub would have to pay to borrow on a collateralized basis over a similar term and amounts equal to the lease payments in a similar economic environment.

The following table summarizes the lease costs (in thousands), which are included in transportation costs and general and administrative costs in the accompanying consolidated statement of income:

	Twelve Months Ended
	December 31, 2020			December 31, 2019

Amortization of finance right-of-use assets	$	2,309		$	2,326
Interest on finance lease liabilities		135			252
Finance lease cost		2,444			2,578

Operating lease cost		10,946			10,861
Short-term lease cost		238			289
Sublease income		(469	)		(507	)
Total lease cost	$	13,159		$	13,221

The following table represents the maturity of operating and finance lease liabilities (in thousands):

	December 31, 2020
	Operating Leases		Finance Leases		Total
Year 1	$	11,082	$	1,817	$	12,899
Year 2		9,714		8		9,722
Year 3		7,607		-		7,607
Year 4		6,369		-		6,369
Year 5		6,312		-		6,312
Thereafter		8,803		-		8,803
Total		49,887		1,825		51,712
Imputed interest		3,466		24		3,490
Present value of lease payments		46,421		1,801		48,222
Less: current lease liabilities		10,093		1,793		11,886
Long-term lease liabilities	$	36,328	$	8	$	36,336

	December 31, 2019
	Operating Leases		Finance Leases		Total
Year 1	$	9,703	$	3,183	$	12,886
Year 2		8,361		1,836		10,197
Year 3		7,029		8		7,037
Year 4		4,861		-		4,861
Year 5		3,706		-		3,706
Thereafter		7,190		-		7,190
Total		40,850		5,027		45,877
Imputed interest		3,765		159		3,924
Present value of lease payments		37,085		4,868		41,953
Less: current lease liabilities		8,567		3,048		11,615
Long-term lease liabilities	$	28,518	$	1,820	$	30,338

The following table presents supplemental cash flow and noncash information related to leases:

	Twelve Months Ended
	December 31, 2020			December 31, 2019
Operating cash flows from operating leases	$	9,419		$	9,702
Financing cash flows from finance leases		3,066			2,954
Operating cash flows from finance leases		135			252
Cash paid for lease liabilities	$	12,620		$	12,908

Right-of-use assets obtained in exchange for new	$	(71	)	$	6
financing lease liabilities (net of disposals)
Rights-of-use assets obtained in exchange for new	$	17,875		$	13,242
operating lease liabilities (net of disposals)

The weighted average remaining lease term and discount rates as of December 31 (in thousands) are as follows:

	December 31, 2020			December 31, 2019
Weighted average remaining lease term — finance leases	0.6 years			1.59 years
Weighted average remaining lease term — operating leases	5.61 years			5.38 years

Weighted average discount rate — finance leases		3.88	%		3.88	%
Weighted average discount rate — operating leases		2.64	%		3.44	%

Internal-Use Software

12 Months Ended

Dec. 31, 2020

Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]

Internal-use Software

NOTE 13. Internal-Use Software

We capitalize internal and external costs, which include costs related to the development of our cloud computing or hosting arrangements, incurred to develop internal use software per ASC Subtopic 350-40. Our hosting arrangements are primarily related to our new enterprise resource planning systems.

We had total capitalized internal use software costs, which include costs related to the development of our cloud computing or hosting arrangements, net of accumulated amortization, of $64.1 million and $64.8 million as of December 31, 2020 and 2019, respectively. The 2020 balance consists of capitalized implementation costs of $13.9 million, net of accumulated amortization, related to our cloud hosting arrangements, which are classified in other assets in our consolidated balance sheet and capitalized internal-use software costs of $50.2 million, net of accumulated amortization, which are classified in property and equipment in our consolidated balance sheet. The 2019 balance consists of capitalized implementation costs of $14.4 million, net of accumulated amortization, related our cloud hosting arrangements, which are classified in other assets in our consolidated balance sheet and capitalized internal-use software costs of $50.4 million, net of accumulated amortization, which are classified in property and equipment in our consolidated balance sheet.

We capitalized total implementation and internal-use software costs of $12.7 million and $21.9 million in 2020 and 2019, respectively. Implementation and internal-use software costs are amortized, once ready for intended use, over its expected useful life or the term of the associated hosting arrangements of generally up to 10 years.

Stock-Based Compensation Plans

12 Months Ended

Dec. 31, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock-Based Compensation Plans

NOTE 14. Stock-Based Compensation Plans

The 2017 Long-Term Incentive Plan (the “2017 Incentive Plan”) was approved by the Board of Directors and subsequently approved by the Company’s stockholders at the 2017 annual meeting. The 2017 Incentive Plan authorizes a broad range of awards including stock options, stock appreciation rights, restricted stock and restricted stock units, performance shares or units, other stock-based awards, and cash incentive awards to all employees (including the Company’s executive officers), directors, consultants, independent contractors or agents of us or a related company. The 2017 Incentive Plan is effective as of March 15, 2017.

As of December 31, 2020, 828,022 shares were available for future grant under the 2017 Incentive Plan.

We have awarded time-based restricted stock to our employees and the Company’s non-employee Directors. This restricted stock vests over a three to five-year period for all recipients other than the Company’s non-employee Directors. The non-employee Directors restricted stock vests over a one period. In 2020, 2019 and 2018, in addition to the time-based restricted stock we granted performance-based restricted stock to our executive officers. The performance-based restricted stock cliff vests after the third anniversary year if certain EBITDA targets are achieved.

Share-based compensation expense for 2020, 2019 and 2018 was $17.1 million, $16.3 million and $13.5 million or $13.1 million, $12.1 million and $10.1 million, net of taxes, respectively. Included in the 2020, 2019 and 2018 share-based compensation expense was $4.5 million, $3.4 million and $1.8 million of performance-based share expenses or $3.5 million, $2.6 million and $1.3 million, net of taxes, respectively.

The following table summarizes the non-vested restricted stock activity for the year ended December 31, 2020:

				Time-Based					Performance-Based
				Restricted Stock					Restricted Stock
				Weighted					Weighted
	Time-Based			Average		Performance-Based			Average
	Restricted Stock			Grant Date		Restricted Stock			Grant Date
	Shares			Fair Value		Shares			Fair Value

Non-vested January 1, 2020		875,492		$	41.34		127,500		$	43.04
Granted		339,196		$	52.07		132,288		$	51.07
Vested		(311,077	)	$	43.19		(114,000	)	$	49.20
Forfeited		(111,128	)	$	43.92		(16,310	)	$	44.45
Non-vested at December 31, 2020		792,483		$	46.01		129,478		$	45.64

The following table summarizes the restricted stock granted during the respective years:

Time-based restricted stock grants	2020		2019		2018

Employees		312,855		355,579		463,818
Outside directors		26,341		32,262		37,125
Total		339,196		387,841		500,943

Weighted average grant date fair value	$	52.07	$	38.02	$	47.34

Vesting period	1-5 years		1-5 years		1-5 years

The 2018 performance shares earned a 200% award therefore an additional 57,000 shares were issued to settle the award on the vesting date of December 4, 2020. A new performance-based restricted stock grant of 75,288 shares were issued to employees in 2020. The performance-based restricted stock grants in 2019 and 2018 were 76,500 and 89,143, respectively. The weighted average grant date fair value of these shares was $51.07 in 2020, $37.20 in 2019, and $49.20 in 2018, all with a cliff vest after three years.

The fair value of non-vested restricted stock is equal to the market price of our stock at the date of grant.

The total fair value of restricted shares vested during the years ended December 31, 2020, 2019 and 2018 was $17.8 million, $14.7 million and $13.3 million, respectively.

As of December 31, 2020, 2019, and 2018, there was $27.5 million, $27.4 million and $31.5 million of unrecognized compensation cost related to non-vested time-based compensation, respectively, that is expected to be recognized over a weighted average period for 2020, 2019, and 2018 of 2.47 years, 2.91 years and 2.81 years. Additionally, as of December 31, 2020, 2019, and 2018 there was $3.5 million, $4.2 million and $2.4 million of unrecognized compensation cost, respectively, related to the non-vested performance-based restricted stock compensation that is expected to be recognized over a weighted average period of 1.5 years for both 2020 and 2019 and 2.0 years for 2018.

During January 2021, we granted 265,308 shares of restricted stock, which includes 79,608 performance-based shares and 185,700 time-based shares, to certain employees and 24,563 shares of restricted stock to outside directors with a weighted average grant date fair value of $57.00. The stock vests over a five-year period for employees and one year for outside directors, except for the performance-based shares that cliff vest after three years.

Employee Benefit Plans

12 Months Ended

Dec. 31, 2020

Compensation And Retirement Disclosure [Abstract]

Employee Benefit Plans

NOTE 15. Employee Benefit Plans

We have a profit-sharing plan as of December 31, 2020, 2019 and 2018, under section 401(k) of the Internal Revenue Code. At our discretion, we partially match qualified contributions made by employees to the plan. We incurred expense of $3.3 million related to this plan in both 2020 and 2019 and $2.6 million in 2018.

In January 2005, we established the Hub Group, Inc. Nonqualified Deferred Compensation Plan (the “Plan”) to provide added incentive for the retention of certain key employees. Under the Plan, which was amended in 2008, participants can elect to defer certain compensation. Accounts will grow on a tax-deferred basis to the participant. Restricted investments included in the Consolidated Balance Sheets represent the fair value of the mutual funds and other security investments related to the Plan as of December 31, 2020 and 2019. Both realized and unrealized gains and losses are included in income and expense and offset the change in the deferred compensation liability. We provide a 50% match on the first 6% of employee compensation deferred under the Plan, with a maximum match equivalent to 3% of base salary. In addition, we have a legacy deferred compensation plan. There are no new contributions being made into this legacy plan.

We incurred expense of $0.3 million per year related to the employer match for these plans in 2020, 2019 and 2018. The liabilities related to these plans as of December 31, 2020 and 2019 were $23.4 million and $22.6 million, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section S99
-Paragraph 2
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Legal Matters

12 Months Ended

Dec. 31, 2020

Commitments And Contingencies Disclosure [Abstract]

Legal Matters

NOTE 16. Legal Matters

Robles

On January 25, 2013, a complaint was filed in the United States District Court for the Eastern District of California (Sacramento Division) by Salvador Robles against our subsidiary HGT. The action was brought on behalf of a class comprised of present and former California-based truck drivers for HGT who, from January 2009 to September 2014 were classified as independent contractors. It alleged that HGT misclassified these drivers as independent contractors and that such drivers were employees. It asserted various violations of the California Labor Code and claimed that HGT engaged in unfair competition practices. The complaint sought, among other things, declaratory and injunctive relief, monetary damages and attorney’s fees. In May 2013, the complaint was amended to add similar claims based on Mr. Robles’ status as an employed company driver. These additional claims were only on behalf of Mr. Robles and not a putative class.

Although the Company believes that the California drivers were properly classified as independent contractors at all times because litigation is expensive, time-consuming and could interrupt our business operations, HGT decided to make settlement offers to individual drivers with respect to the claims alleged in this lawsuit, without admitting liability and the expense for this charge was recorded in 2014. In late 2014, HGT decided to convert its model from independent contractors to employee drivers in California (the “Conversion”). In early 2016, HGT closed its operations in Southern California.

Adame

On August 5, 2015, a suit was filed in state court in San Bernardino County, California on behalf of 63 named Plaintiffs against HGT and five Company employees. The lawsuit alleges claims similar to those being made in the Robles case and seeks monetary penalties under the Private Attorneys General Act. As mentioned above, plaintiffs’ counsel and Hub Group agreed in principle to settle this and the Robles matters.

In September 2019, Plaintiffs’ counsel and Hub agreed in principle to settle all claims under both the Robles and Adame matters for $4.8 million, which has been recorded as Accrued other in the Consolidated Balance Sheet and General and administrative costs in the Consolidated Statement of Income and Comprehensive Income for the year ended 2019. The settlements are subject to final court approval.

We are involved in certain other claims and pending litigation arising from the normal conduct of business, including putative class-action lawsuits in which the plaintiffs are current and former California-based drivers who allege claims for unpaid wages, failure to provide meal and rest periods, failure to reimburse incurred business expenses and other items. Based on management's present knowledge, management does not believe that loss contingencies arising from these pending matters are likely to have a material adverse effect on the Company's overall financial position, operating results, or cash flows after taking into account any existing accruals. However, actual outcomes could be material to the Company's financial position, operating results, or cash flows for any particular period.

Accrued Other

12 Months Ended

Dec. 31, 2020

Payables And Accruals [Abstract]

Accrued Other

NOTE 17. Accrued Other

Included in Accrued Other on our Consolidated Balance Sheets are accrued chassis costs of $40.8 million and $23.8 million as of December 31, 2020 and 2019, respectively. There were no other items in excess of 5% of total current liabilities that are not shown separately on the Consolidated Balance Sheets.

Stock Repurchase Plans

12 Months Ended

Dec. 31, 2020

Equity [Abstract]

Stock Repurchase Plans

NOTE 18. Stock Repurchase Plans

On May 23, 2019, our Board of Directors authorized the purchase of up to $100 million of our Class A Common Stock. Under the program, the shares may be repurchased in the open market or in privately negotiated transactions, from time to time subject to market and other conditions. We did not purchase any stock under this authorization during the year ended December 31, 2020. We purchased 626,320 shares for $25.0 million under this authorization during the year ended December 31, 2019. The approved share repurchase program does not obligate us to repurchase any dollar amount or number of shares and the program may be extended, modified, suspended, or discontinued at any time.

We purchased 148,242 shares for $8.0 million during 2020, 98,260 shares for $4.0 million during 2019 and 87,381 shares for $4.3 million in 2018 related to employee withholding upon vesting of restricted stock. The table below gives information on a monthly basis regarding the number of shares delivered to us by employees to satisfy the mandatory tax withholding requirement upon vesting of restricted stock during 2020:

							Maximum Value of
	Total				Total Number of		Shares that May Yet
	Number of		Average		Shares Purchased as		Be Purchased Under
	Shares		Price Paid		Part of Publicly		the Plan
	Purchased		Per Share		Announced Plan		(in 000’s)
1/1/2020 - 1/31/2020		69,146	$	52.49		-	$	75,002
2/1/2020 - 2/28/2020		2,571	$	54.41		-	$	75,002
3/1/2020 - 3/31/2020		-	$	-		-	$	75,002
4/1/2020 - 4/30/2020		2,171	$	46.20		-	$	75,002
5/1/2020 - 5/31/2020		1,318	$	42.80		-	$	75,002
6/1/2020 - 6/30/2020		389	$	47.01		-	$	75,002
7/1/2020 - 7/31/2020		1,647	$	50.15		-	$	75,002
8/1/2020 - 8/31/2020		123	$	54.54		-	$	75,002
9/1/2020 - 9/30/2020		126	$	51.74		-	$	75,002
10/1/2020 - 10/31/2020		435	$	52.72		-	$	75,002
11/1/2020 - 11/30/2020		1,883	$	50.23		-	$	75,002
12/1/2020 - 12/31/2020		68,433	$	55.58		-	$	75,002
Total		148,242	$	53.70		-	$	75,002

Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Data (Unaudited)

NOTE 19. Selected Quarterly Financial Data (Unaudited)

The following table sets forth selected quarterly financial data each of the quarters in 2020 (in thousands, except per share amounts):

	Quarter Ended
	March 31,		June 30,		September 30,		December 31,
	2020		2020 (1)		2020 (2)		2020
Year Ended December 31, 2020:
Revenue	$	838,859	$	779,243	$	924,812	$	952,730
Gross margin		104,594		107,249		108,035		105,559
Operating income		19,759		20,978		33,917		31,172
Income before provision for income taxes		17,485		18,019		31,558		29,038
Net income		13,236		13,154		24,781		22,388

Earnings per share from net income
Basic	$	0.40	$	0.40	$	0.75	$	0.67
Diluted	$	0.40	$	0.39	$	0.74	$	0.67

(1)

We donated refrigerated trailers with a carrying value of approximately $5.4 million during the second quarter of 2020 to be used by emergency responders in fighting the COVID-19 pandemic.

(2)

We donated an additional $0.2 million of refrigerated trailers during the third quarter of 2020.

The following table sets forth the selected quarterly financial data for each of the quarters in 2019 (in thousands, except per share amounts):

	Quarter Ended
	March 31,		June 30,		September 30,		December 31,
	2019		2019		2019		2019
Year Ended December 31, 2019:
Revenue	$	932,998	$	921,163	$	913,275	$	900,681
Gross margin		127,289		132,703		135,218		125,860
Operating income		35,589		40,721		37,246		38,864
Income before provision for income taxes		32,866		38,596		35,135		37,273
Net income		23,894		29,217		26,105		27,955

Earnings per share from net income
Basic	$	0.71	$	0.87	$	0.79	$	0.85
Diluted	$	0.71	$	0.87	$	0.78	$	0.84

VALUATION AND QUALIFYING ACCOUNTS

12 Months Ended

Dec. 31, 2020

Valuation And Qualifying Accounts [Abstract]

VALUATION AND QUALIFYING ACCOUNTS

SCHEDULE II

HUB GROUP, INC.

VALUATION AND QUALIFYING ACCOUNTS AND RESERVES

Allowance for uncollectible trade accounts

	Balance at		Charged to		Charged to					Balance at
Year Ended	Beginning of		Costs &		Other					End of
December 31:	Year		Expenses		Accounts (1)		Deductions (2)			Year

2020	$	6,910,000	$	135,000	$	1,242,000	$	(7,000	)	$	8,280,000

2019	$	6,728,000	$	180,000	$	5,000	$	(3,000	)	$	6,910,000

2018	$	5,996,000	$	54,000	$	680,000	$	(2,000	)	$	6,728,000

Deferred tax valuation allowance

	Balance at		Charged to		Balance at
Year Ended	Beginning of		Costs &		End of
December 31:	Year		Expenses		Year

2020	$	4,713,000	$	1,805,000	$	6,518,000

2019	$	3,128,000	$	1,585,000	$	4,713,000

2018	$	1,681,000	$	1,447,000	$	3,128,000

(1)	Expected customer account adjustments charged to revenue and write-offs, net of recoveries.

(2)	Represents bad debt recoveries.

On August 31, 2018, Hub sold Mode. In 2018, we adjusted our consolidated financial statements to reflect Mode as a discontinued operation for that year and all prior periods presented. The allowances shown above for 2018 reflect Mode as a discontinued operation. Refer to the Note 4 “Discontinued Operations” for additional information regarding the sale of Mode.

Description of Business and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Business	For all periods presented in our Consolidated Statements of Income and Comprehensive Income, all sales, costs, expenses, gains and income taxes attributable to Mode Transportation, LLC (“Mode”) have been reported under the captions, “Income from Discontinued Operations, Net of Income Taxes.” Cash flows used in or provided by Mode have been reported in the Consolidated Statements of Cash Flows under operating and investing activities. Business: Hub Group, Inc. (“Hub”, “we”, “us” or “our”) provides intermodal transportation services utilizing primarily third-party arrangements with railroads. Local pick-up and delivery services (referred to as “drayage”) can be provided by our subsidiary, Hub Group Trucking, Inc. (“HGT”), or a third-party company. We offer a dedicated fleet of equipment and drivers through our dedicated line of business. We also arrange for transportation of freight by truck and perform logistics services. On December 9, 2020, we acquired NonstopDelivery, LLC (“NSD”). Refer to Note 5 “Acquisitions” for additional information regarding NSD. On December 3, 2018, a subsidiary of Hub Group, Inc. merged with CaseStack, Inc. (“CaseStack”) (the “CaseStack Acquisition”). Refer to Note 5 “Acquisitions” for additional information regarding CaseStack. On August 31, 2018, we sold Mode, a direct wholly-owned subsidiary of the Company (the “Disposition”). Refer to Note 4 “Discontinued Operations” for additional information regarding results from discontinued operations.
Principles of Consolidation	Principles of Consolidation: The consolidated financial statements include our accounts and all entities in which we have more than a 50% equity ownership or otherwise exercise unilateral control. All significant intercompany balances and transactions have been eliminated.
Cash and Cash Equivalents	Cash and Cash Equivalents: We consider as cash equivalents all highly liquid instruments with an original maturity of three months or less. As of December 31, 2020 and 2019, our cash and temporary investments were with high quality financial institutions in demand deposit accounts (“DDAs”), savings accounts and an interest-bearing checking account.
Accounts Receivable and Allowance for Uncollectible Accounts	Accounts Receivable and Allowance for Uncollectible Accounts: On January 1, 2020, we adopted ASU 2016-13 Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (ASC 326), which replaces the incurred loss methodology with an expected loss methodology that is referred to as the Current Expected Credit Loss (“CECL”). The measurement of expected credit losses under the CECL methodology is applicable to financial assets measured at amortized cost, including trade receivables. Results for reporting periods beginning January 1, 2020 are presented under ASC 326 while prior period amounts continue to be reported in accordance with previously applicable generally accepted accounting principles. The impact of adopting the standard was immaterial. In accordance with the standard, trade receivables are reported at amortized cost net of the allowance for credit losses. The allowance for credit losses is a valuation account that is deducted from the trade receivables’ amortized cost basis to present the net amount expected to be collected on the receivables. Trade receivables are charged off against the allowance when we believe the uncollectibility of a receivable balance is confirmed, and the expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged-off. Management continuously reviews and assesses the environment, especially with the COVID-19 pandemic, and its potential impact on the credit worthiness and collectability of our accounts receivable with customers most affected by the COVID-19 pandemic. Our allowance for credit losses is presented in the allowance for uncollectible trade accounts and is immaterial at December 31, 2020 and 2019. The allowance for uncollectible trade accounts also includes estimated adjustments to revenue for items such as billing disputes. Our reserve for uncollectible accounts was approximately $8.3 million and $6.9 million as of December 31, 2020 and 2019, respectively. Receivables are written off once collection efforts have been exhausted. Recoveries of receivables previously charged off are recorded when received.
Property and Equipment	Property and Equipment: Property and equipment are stated at cost. Depreciation of property and equipment is computed using the straight-line method at rates adequate to depreciate the cost of the applicable assets over their expected useful lives: building and improvements, up to 40 years; leasehold improvements, the shorter of useful life or lease term; computer equipment and software, up to 10 years; furniture and equipment, up to 10 years; and transportation equipment up to 16 years. Direct costs related to internally developed software projects are capitalized and amortized over their expected useful life on a straight-line basis not to exceed 10 years. Interest is capitalized on qualifying assets under development for internal use. Maintenance and repairs are charged to operations as incurred and major improvements are capitalized. The cost of assets retired or otherwise disposed of and the accumulated depreciation thereon are removed from the accounts with any gain or loss realized upon sale or disposal charged or credited to operations. We review long-lived assets for impairment when events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. In the event that the undiscounted future cash flows resulting from the use of the asset is less than the carrying amount, an impairment loss equal to the excess of the assets carrying amount over its fair value, less cost to dispose, is recorded.
Capitalized Internal Use Software and Cloud Computing Costs	Capitalized Internal Use Software and Cloud Computing Costs: We capitalize internal and external costs, which include costs related to the development of our cloud computing or hosting arrangements, incurred to develop internal use software per ASC Subtopic 350-40. Internal use software has both the of the following characteristics: the software is acquired, internally developed, or modified solely to meet our needs and during the development or modification, no substantive plan exists or is being developed to market the software externally. Only costs incurred during the application development stage and costs to develop or obtain software that allows for access to or conversion of old data by new systems are capitalized. Capitalization of costs begins when the preliminary project stage is complete, management has committed to funding the project and it is probable the project will be completed, and the software will be used to perform its intended function. The measurement of the costs to capitalize include fees paid to third parties, costs incurred to obtain software from third parties, travel expenses incurred by employees in their duties associated with developing software, payroll related costs for employees who spend time directly on the project and interest costs incurred while developing internal-use software or implementing a hosting arrangement. Capitalization ceases no later than when the project is substantially complete and ready for its intended use, after all substantial testing is complete.
Goodwill and Other Intangibles	Goodwill and Other Intangibles: In January 2017, the FASB issued ASU No. 2017-04 Intangibles – Goodwill and other (Topic 350): simplifying the test for goodwill impairment. This ASU simplifies how all entities assess goodwill for impairment by eliminating step two from the goodwill impairment test. As amended, the goodwill impairment test will consist of one step comparing the fair value of a reporting unit with its carrying amount. An entity should recognize a goodwill impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. We adopted this standard on January 1, 2020, as required. The adoption of Topic 350 had no material effect on our financial statements. Goodwill represents the excess of purchase price over the fair market value of net assets acquired in connection with our business combinations. Goodwill and intangible assets that have indefinite useful lives are not amortized but are subject to annual impairment tests. We test goodwill for impairment annually in the fourth quarter or when events or changes in circumstances indicate the carrying value of this asset might exceed the current fair value. We test goodwill for impairment at the reporting unit level. Since the Disposition, we only have one reporting unit. We assess qualitative factors such as current company performance and overall economic factors to determine if it is more-likely-than-not that the fair value of our reporting unit was less than its carrying value and whether it is necessary to perform the quantitative goodwill impairment test. In the quantitative goodwill test, a company compares the carrying value of a reporting unit to its fair value. If the fair value of the reporting unit is less than the carrying amount, then a goodwill impairment charge will be recognized in the amount by which carrying amount exceeds fair value, limited to the total amount of goodwill allocated to that reporting unit. We performed our annual assessment in the fourth quarter of 2020 and 2019 as required and determined it was not more-likely-than-not that the fair value of our reporting unit was less than its carrying value. We evaluate the potential impairment of finite-lived acquired intangible assets when impairment indicators exist. If the carrying value is no longer recoverable based upon the undiscounted future cash flows of the asset, the amount of the impairment is the difference between the carrying amount and the fair value of the asset.
Claims Accruals	Claims Accruals: We purchase insurance coverage for a portion of expenses related to employee injuries, vehicular collisions, accidents, and cargo damage. Certain insurance arrangements include high self-insurance retention limits or deductibles applicable to each claim. We have umbrella policies to limit our exposure to large claim costs. Our claims accrual policy for all self-insured claims is to recognize a liability at the time of the incident based on our analysis of the nature and severity of the claims and analyses provided by third-party claims administrators, as well as legal and regulatory factors. Our safety and claims personnel work directly with representatives from the insurance companies to continually update the estimated cost of each claim. The ultimate cost of a claim develops over time as additional information regarding the nature, timing, and extent of damages claimed becomes available. Accordingly, we use an actuarial method to develop current claim information to derive an estimate of our ultimate claim liability. This process involves the use of loss-development factors based on our historical claims experience. In doing so, the recorded liability factors in future growth of claims and an allowance for incurred-but-not-reported claims. We do not discount our estimated losses. In addition, we record receivables for amounts expected to be reimbursed for payments made in excess of self-insurance levels on covered claims related to auto liability and workers’ compensation. At December 31, 2020 and 2019, we had an accrual of approximately $32.1 million and $20.0 million, respectively for estimated claims. We had no significant receivables recorded for payments in excess of our self-insured levels. Our claims accruals are classified in accrued other and non-current liabilities in the consolidated balance sheets, based on when the claim is estimated to be paid.
Concentration of Credit Risk	Concentration of Credit Risk: Our financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. We place our cash and temporary investments with high quality financial institutions in DDAs, savings accounts and an interest-bearing checking account. We primarily serve customers located throughout the United States with no significant concentration in any one region. One customer accounted for more than 10% of our revenue for the year ended December 31, 2020. No one customer accounted for more than 10% of revenue in 2019 or 2018. We review a customer’s credit history before extending credit. In addition, we routinely assess the financial strength of our customers and, as a consequence, believe that our trade accounts receivable risk is limited.
Revenue Recognition	Revenue Recognition: In accordance with the Accounting Standards Codification (ASC) topic 606, Revenue from Contracts with Customers our significant accounting policy for revenue is as follows: Revenue is recognized when we transfer services to our customer in an amount that reflects the consideration we expect to receive. We account for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. We generally recognize revenue over time because of continuous transfer of control to the customer. Since control is transferred over time, revenue and related transportation costs are recognized based on relative transit time, which is based on the extent of progress towards completion of the related performance obligation. We enter into contracts that can include various combinations of services, which are capable of being distinct and accounted for as separate performance obligations. Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction, that are collected by the Company from a customer, are excluded from revenue. Further, in most cases, we report our revenue on a gross basis because we are the primary obligor as we are responsible for providing the service desired by the customer. Our customers view us as responsible for fulfillment including the acceptability of the service. Service requirements may include, for example, on-time delivery, handling freight loss and damage claims, setting up appointments for pick-up and delivery and tracing shipments in transit. We have discretion in setting sales prices and as a result, the amount we earn varies. In addition, we have the discretion to select our vendors from multiple suppliers for the services ordered by our customers. These factors, discretion in setting prices and discretion in selecting vendors, further support reporting revenue on a gross basis for most of our revenue.
Provision for Income Taxes	Provision for Income Taxes: Deferred income taxes are recognized for the future tax effects of temporary differences between financial and income tax reporting using tax rates in effect for the years in which the differences are expected to reverse. We believe that it is more likely than not that our deferred tax assets will be realized based on future taxable income projections with two exceptions for which we have established valuation allowances. We have established valuation allowances of $0.1 million related to state tax net operating losses and $6.4 million related to federal and state tax credit carryforwards. In the event the probability of realizing the remaining deferred tax assets does not meet the more likely than not threshold in the future, a valuation allowance would be established for the deferred tax assets deemed unrecoverable. Tax liabilities are recorded when, in management’s judgment, a tax position does not meet the more likely than not threshold for recognition as prescribed by the guidance. For tax positions that meet the more likely than not threshold, a tax liability may be recorded depending on management’s assessment of how the tax position will ultimately be settled. We recognize interest expense and penalties related to income tax liabilities in our provision for income taxes.
Earnings Per Common Share	Earnings Per Common Share: Basic earnings per common share are based on the average quarterly weighted average number of Class A and Class B shares of common stock outstanding. Diluted earnings per common share are adjusted for restricted stock using the treasury stock method.
Stock Based Compensation	Stock Based Compensation: Share-based compensation includes the restricted stock awards expected to vest based on the grant date fair value. Compensation expense is amortized straight-line over the vesting period and is included in salaries and benefits.
New Pronouncements	New Pronouncements: In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement. This standard is effective for public business entities in fiscal years beginning after December 15, 2019. This standard requires changes to the disclosure requirements for fair value measurements for certain Level 3 items and specifies that some of the changes must be applied prospectively, while others should be applied retrospectively. We adopted the standard as of January 1, 2020, but it did not have an impact on our financial statements. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. This ASU clarifies and simplifies accounting for income taxes by eliminating certain exceptions for intraperiod tax allocation principles, the methodology for calculating income tax rates in an interim period, and recognition of deferred taxes for outside basis difference in an investment, among other updates. The effective date of this ASU is for fiscal years and interim periods beginning after December 15, 2020. We adopted the standard as of January 1, 2021, but it did not have an impact on our financial statements.
Use of Estimates	Use of Estimates: The preparation of financial statements in conformity with United States generally accepted accounting principles requires us 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 revenue and expense during the reporting period. Significant estimates include the allowance for uncollectible trade accounts, exposure for self-insured claims under our insurance policies and useful lives of assets. Actual results could differ from these estimates.

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Reconciliation of Earnings Per Share

The following is a reconciliation of our earnings per share (in thousands, except for per share data):

	Years Ended, December 31,
	2020		2019		2018

Net income from continuing operations for basic and diluted earnings per share	$	73,559	$	107,171	$	87,661

Net income from discontinued operations for basic and diluted earnings per share		-		-		114,079

Net income	$	73,559	$	107,171	$	201,740

Weighted average shares outstanding - basic		33,180		33,284		33,393

Dilutive effect of restricted stock		363		196		167

Weighted average shares outstanding - diluted		33,543		33,480		33,560

Earnings per share from continuing operations
Basic	$	2.22	$	3.22	$	2.62
Diluted	$	2.19	$	3.20	$	2.61
Earnings per share from discontinued operations
Basic	$	-	$	-	$	3.42
Diluted	$	-	$	-	$	3.40
Earnings per share net income
Basic	$	2.22	$	3.22	$	6.04
Diluted	$	2.19	$	3.20	$	6.01

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2020

Components of Other Intangibles Acquired

The components of “Other intangibles” listed in the above table as of the acquisition date are preliminarily estimated as follows (in thousands):

			Accumulated		Balance at		Estimated Useful
	Amount		Amortization		December 31, 2020		Life
Customer relationships	$	52,683	$	293	$	52,390	15 years
Agent relationships	$	2,432	$	51	$	2,381	4 years
Trade name	$	1,621	$	90	$	1,531	18 months

Nonstop Delivery ,LLC [Member]

Preliminary Allocation of Total Consideration to Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary allocation of the total consideration to the assets acquired and liabilities assumed as of the date of the acquisition (in thousands):

	December 9, 2020
Cash and cash equivalents	$	4,829
Accounts receivable trade		26,250
Prepaid expenses and other current assets		207
Property and equipment		2,907
Right of use assets - operating leases		1,105
Goodwill, net		24,315
Other intangibles		56,736
Other assets		42
Total assets acquired	$	116,391

Accounts payable trade	$	9,972
Accrued payroll		1,324
Accrued other		578
Lease liability - operating leases		364
Lease liability - financing leases		864
Total liabilities assumed	$	13,102

Total consideration	$	103,289

Cash paid, net	$	84,845

CaseStack, Inc. [Member]

Preliminary Allocation of Total Consideration to Assets Acquired and Liabilities Assumed

The following table summarizes the allocation of the total consideration to the assets acquired and liabilities assumed as of the date of the acquisition (in thousands):

Accounts receivable trade	$	31,896
Prepaid expenses and other current assets		694
Property and equipment		3,247
Deferred tax assets		6,433
Goodwill, net		166,070
Other intangibles		75,600
Other assets		120
Total assets acquired	$	284,060

Accounts payable trade	$	24,542
Accrued payroll		2,811
Accrued other		3,849
Total liabilities assumed	$	31,202

Total consideration	$	252,858

Summary of Total Purchase Price Allocated to Net Assets Acquired

The following table summarizes the total purchase price allocated to the net assets acquired (in thousands):

Cash paid	$	249,389
Deferred purchase consideration		3,469
Total consideration	$	252,858

Unaudited Pro forma Consolidated Results of Operations

	Twelve Months Ended
	December 31, 2020		December 31, 2019		December 31, 2018
Revenue	$	3,584,538	$	3,733,507	$	3,912,745
Income from continuing operations	$	84,874	$	107,998	$	133,310
Earnings per share (1)
Basic	$	2.56	$	3.24	$	2.81
Diluted	$	2.53	$	3.23	$	2.79

(1)

Earnings per share is from continuing operations.

Revenue from Contract with Customers (Tables)

12 Months Ended

Dec. 31, 2020

Revenue From Contract With Customer [Abstract]

Summary of Disaggregated Revenue by Business Line

The following table summarizes our disaggregated revenue by business line (in thousands) for the years ended December 31:


	2020		2019		2018
Intermodal	$	2,091,984	$	2,166,382	$	2,219,739
Logistics		704,824		769,195		673,715
Truck brokerage		431,127		433,793		497,282
Dedicated		267,709		298,747		292,857
Total revenue	$	3,495,644	$	3,668,117	$	3,683,593

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Carrying Amount of Goodwill

The following table presents the carrying amount of goodwill (in thousands):

	Total
Balance at January 1, 2019	$	483,584
Acquisition	$	1,094
Other		(219	)
Balance at December 31, 2019	$	484,459
Acquisition		24,315
Other		(219	)
Balance at December 31, 2020	$	508,555

Components of Other Intangible Assets

The components of the “Other intangible assets” are as follows (in thousands):

						Net
	Gross		Accumulated			Carrying
	Amount		Amortization			Value		Life
As of December 31, 2020:
Customer relationships	$	196,806	$	(36,765	)	$	160,041	5-15 years

Agent relationships	$	2,432	$	(51	)	$	2,381	4 years

Trade name	$	2,921	$	(1,390	)	$	1,531	18 months

Total	$	202,159	$	(38,206	)	$	163,953

						Net
	Gross		Accumulated			Carrying
	Amount		Amortization			Value		Life
As of December 31, 2019:
Customer relationships	$	144,123	$	(23,517	)	$	120,606	5-15 years

Trade name	$	1,300	$	(939	)	$	361	18 months

Total	$	145,423	$	(24,456	)	$	120,967

Amortization Expense

Amortization expense for the next five years is as follows (in thousands):

	Total
Year 1	$	17,943
Year 2		17,270
Year 3		16,675
Year 4		15,030
Year 5		14,472

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Reconciliation of Effective Tax Rate to Federal Statutory Tax Rate

The following is a reconciliation of our effective tax rate to the federal statutory tax rate:

	Years Ended December 31,
	2020				2019				2018
United States federal statutory rate		21.0		%		21.0		%		21.0		%
Federal tax law changes		-				-				0.5
State taxes, net of federal benefit		3.6				3.5				3.7
Federal and state incentives		(1.1	)			(0.9	)			(0.9	)
State law changes		(0.2	)			0.7				-
Permanent differences		0.2				1.2				0.6
Net effective rate		23.5		%		25.5		%		24.9		%

Summary of Provision for Income Taxes

The following is a summary of our provision for income taxes (in thousands):

	Years Ended December 31,
	2020		2019			2018
Current
Federal	$	11,913	$	31,209		$	(13,750	)
State and local		3,597		3,979			1,740
Foreign		11		84			(234	)
		15,521		35,272			(12,244	)

Deferred
Federal		6,548		(344	)		36,968
State and local		465		1,788			4,134
Foreign		7		(17	)		206
		7,020		1,427			41,308

Total provision	$	22,541	$	36,699		$	29,064

Summary of Deferred Tax Assets and Liabilities

The following is a summary of our deferred tax assets and liabilities (in thousands)

	December 31,
	2020			2019
Accrued compensation		12,467			13,153
Other reserves		14,154			10,297
Tax credit carryforwards		8,715			6,669
Operating loss carryforwards		2,845			4,879
Lease accounting liability		11,669			10,195
Total gross deferred income taxes		49,850			45,193
Valuation allowances		(6,518	)		(4,713	)
Total deferred tax assets		43,332			40,480

Prepaids		(6,404	)		(4,774	)
Other receivables		-			(656	)
Property and equipment		(132,669	)		(124,964	)
Goodwill		(55,166	)		(55,195	)
Lease right-of-use asset		(11,418	)		(10,195	)
Total deferred tax liabilities		(205,657	)		(195,784	)

Total deferred taxes	$	(162,325	)	$	(155,304	)

Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):

	2020			2019
Gross unrecognized tax benefits - beginning of the year	$	4,069		$	3,894
Gross (decreases) increases related to prior year tax positions		(52	)		74
Gross increases related to current year tax positions		1,484			506
Lapse of applicable statute of limitations		(1,209	)		(405	)
Gross unrecognized tax benefits - end of year	$	4,292		$	4,069

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2020

Property Plant And Equipment [Abstract]

Property and Equipment

Property and equipment consist of the following (in thousands):

	December 31,
	2020			2019
Land	$	24,708		$	24,708
Building and improvements		36,649			36,602
Leasehold improvements		7,686			7,300
Computer equipment and software		145,139			132,413
Furniture and equipment		14,732			14,057
Transportation equipment		862,247			800,300
Construction in process		33,467			18,331
		1,124,628			1,033,711
Less: Accumulated depreciation and amortization		(453,527	)		(370,546	)
Property and Equipment, net	$	671,101		$	663,165

Long-Term Debt and Financing Arrangements (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Schedule of Outstanding Debt

Our outstanding debt is as follows (in thousands):


	December 31,			December 31,
	2020			2019
	(in thousands)

Interim funding for equipment received and expected to be converted to an equipment note in subsequent year; interest paid at a variable rate	$	8,902		$	-

Secured Equipment Notes due on various dates in 2025 commencing on various dates in 2020; interest is paid monthly at a fixed annual rate between 1.51% and 1.80%		74,494			-

Secured Equipment Notes due on various dates in 2024 commencing on various dates in 2017, 2019 and 2020; interest is paid monthly at a fixed annual rate between 2.50% and 3.59%		49,920			62,690

Secured Equipment Notes due on various dates in 2023 commencing on various dates from 2016 to 2019; interest is paid monthly at a fixed annual rate between 2.20% and 4.20%		112,668			153,350

Secured Equipment Notes due on various dates in 2022 commencing on various dates from 2015 to 2017; interest is paid monthly at a fixed annual rate of between 2.20% and 2.90%		8,943			16,892

Secured Equipment Notes due on various dates in 2021 commencing on various dates from 2014 to 2017; interest is paid monthly at a fixed annual rate between 2.02% and 2.96%		15,432			35,076

Secured Equipment Notes due on various dates in 2020 commencing on various dates from 2015 to 2016; interest is paid monthly at a fixed annual rate between 1.72% and 2.78%		-			13,617

		270,359			281,625

Less current portion		(93,562	)		(94,691	)
Total long-term debt	$	176,797		$	186,934

Summary of Aggregate Principal Payments

Aggregate principal payments, in thousands, due subsequent to December 31, 2020, are as follows:

Year 1	$	93,562
Year 2		77,205
Year 3		58,373
Year 4		26,863
Year 5		14,356
	$	270,359

Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Summary of Lease Costs

The following table summarizes the lease costs (in thousands), which are included in transportation costs and general and administrative costs in the accompanying consolidated statement of income:

	Twelve Months Ended
	December 31, 2020			December 31, 2019

Amortization of finance right-of-use assets	$	2,309		$	2,326
Interest on finance lease liabilities		135			252
Finance lease cost		2,444			2,578

Operating lease cost		10,946			10,861
Short-term lease cost		238			289
Sublease income		(469	)		(507	)
Total lease cost	$	13,159		$	13,221

Schedule of Maturity of Operating and Finance Leases Liabilities

The following table represents the maturity of operating and finance lease liabilities (in thousands):

	December 31, 2020
	Operating Leases		Finance Leases		Total
Year 1	$	11,082	$	1,817	$	12,899
Year 2		9,714		8		9,722
Year 3		7,607		-		7,607
Year 4		6,369		-		6,369
Year 5		6,312		-		6,312
Thereafter		8,803		-		8,803
Total		49,887		1,825		51,712
Imputed interest		3,466		24		3,490
Present value of lease payments		46,421		1,801		48,222
Less: current lease liabilities		10,093		1,793		11,886
Long-term lease liabilities	$	36,328	$	8	$	36,336

	December 31, 2019
	Operating Leases		Finance Leases		Total
Year 1	$	9,703	$	3,183	$	12,886
Year 2		8,361		1,836		10,197
Year 3		7,029		8		7,037
Year 4		4,861		-		4,861
Year 5		3,706		-		3,706
Thereafter		7,190		-		7,190
Total		40,850		5,027		45,877
Imputed interest		3,765		159		3,924
Present value of lease payments		37,085		4,868		41,953
Less: current lease liabilities		8,567		3,048		11,615
Long-term lease liabilities	$	28,518	$	1,820	$	30,338

Summary of Supplemental Cash Flow and Noncash Information

The following table presents supplemental cash flow and noncash information related to leases:

	Twelve Months Ended
	December 31, 2020			December 31, 2019
Operating cash flows from operating leases	$	9,419		$	9,702
Financing cash flows from finance leases		3,066			2,954
Operating cash flows from finance leases		135			252
Cash paid for lease liabilities	$	12,620		$	12,908

Right-of-use assets obtained in exchange for new	$	(71	)	$	6
financing lease liabilities (net of disposals)
Rights-of-use assets obtained in exchange for new	$	17,875		$	13,242
operating lease liabilities (net of disposals)

Summary Of Weighted Average Remaining Lease Term and Discount Rates

The weighted average remaining lease term and discount rates as of December 31 (in thousands) are as follows:

	December 31, 2020			December 31, 2019
Weighted average remaining lease term — finance leases	0.6 years			1.59 years
Weighted average remaining lease term — operating leases	5.61 years			5.38 years

Weighted average discount rate — finance leases		3.88	%		3.88	%
Weighted average discount rate — operating leases		2.64	%		3.44	%

Stock-Based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Schedule of Non-Vested Restricted Stock Activity

The following table summarizes the non-vested restricted stock activity for the year ended December 31, 2020:

				Time-Based					Performance-Based
				Restricted Stock					Restricted Stock
				Weighted					Weighted
	Time-Based			Average		Performance-Based			Average
	Restricted Stock			Grant Date		Restricted Stock			Grant Date
	Shares			Fair Value		Shares			Fair Value

Non-vested January 1, 2020		875,492		$	41.34		127,500		$	43.04
Granted		339,196		$	52.07		132,288		$	51.07
Vested		(311,077	)	$	43.19		(114,000	)	$	49.20
Forfeited		(111,128	)	$	43.92		(16,310	)	$	44.45
Non-vested at December 31, 2020		792,483		$	46.01		129,478		$	45.64

Schedule of Restricted Stock Granted

The following table summarizes the restricted stock granted during the respective years:

Time-based restricted stock grants	2020		2019		2018

Employees		312,855		355,579		463,818
Outside directors		26,341		32,262		37,125
Total		339,196		387,841		500,943

Weighted average grant date fair value	$	52.07	$	38.02	$	47.34

Vesting period	1-5 years		1-5 years		1-5 years

Stock Repurchase Plans (Tables)

12 Months Ended

Dec. 31, 2020

Equity [Abstract]

Schedule of Number of Shares Purchased and Maximum Value of Shares that May Yet Be Purchased Under the Plan

The table below gives information on a monthly basis regarding the number of shares delivered to us by employees to satisfy the mandatory tax withholding requirement upon vesting of restricted stock during 2020

							Maximum Value of
	Total				Total Number of		Shares that May Yet
	Number of		Average		Shares Purchased as		Be Purchased Under
	Shares		Price Paid		Part of Publicly		the Plan
	Purchased		Per Share		Announced Plan		(in 000’s)
1/1/2020 - 1/31/2020		69,146	$	52.49		-	$	75,002
2/1/2020 - 2/28/2020		2,571	$	54.41		-	$	75,002
3/1/2020 - 3/31/2020		-	$	-		-	$	75,002
4/1/2020 - 4/30/2020		2,171	$	46.20		-	$	75,002
5/1/2020 - 5/31/2020		1,318	$	42.80		-	$	75,002
6/1/2020 - 6/30/2020		389	$	47.01		-	$	75,002
7/1/2020 - 7/31/2020		1,647	$	50.15		-	$	75,002
8/1/2020 - 8/31/2020		123	$	54.54		-	$	75,002
9/1/2020 - 9/30/2020		126	$	51.74		-	$	75,002
10/1/2020 - 10/31/2020		435	$	52.72		-	$	75,002
11/1/2020 - 11/30/2020		1,883	$	50.23		-	$	75,002
12/1/2020 - 12/31/2020		68,433	$	55.58		-	$	75,002
Total		148,242	$	53.70		-	$	75,002

Selected Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Summary of Selected Quarterly Financial Data

The following table sets forth selected quarterly financial data each of the quarters in 2020 (in thousands, except per share amounts):

	Quarter Ended
	March 31,		June 30,		September 30,		December 31,
	2020		2020 (1)		2020 (2)		2020
Year Ended December 31, 2020:
Revenue	$	838,859	$	779,243	$	924,812	$	952,730
Gross margin		104,594		107,249		108,035		105,559
Operating income		19,759		20,978		33,917		31,172
Income before provision for income taxes		17,485		18,019		31,558		29,038
Net income		13,236		13,154		24,781		22,388

Earnings per share from net income
Basic	$	0.40	$	0.40	$	0.75	$	0.67
Diluted	$	0.40	$	0.39	$	0.74	$	0.67

(1)

We donated refrigerated trailers with a carrying value of approximately $5.4 million during the second quarter of 2020 to be used by emergency responders in fighting the COVID-19 pandemic.

(2)

We donated an additional $0.2 million of refrigerated trailers during the third quarter of 2020.

The following table sets forth the selected quarterly financial data for each of the quarters in 2019 (in thousands, except per share amounts):

	Quarter Ended
	March 31,		June 30,		September 30,		December 31,
	2019		2019		2019		2019
Year Ended December 31, 2019:
Revenue	$	932,998	$	921,163	$	913,275	$	900,681
Gross margin		127,289		132,703		135,218		125,860
Operating income		35,589		40,721		37,246		38,864
Income before provision for income taxes		32,866		38,596		35,135		37,273
Net income		23,894		29,217		26,105		27,955

Earnings per share from net income
Basic	$	0.71	$	0.87	$	0.79	$	0.85
Diluted	$	0.71	$	0.87	$	0.78	$	0.84

Description of Business and Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Summary Of Significant Accounting Policies [Line Items]
Reserve for uncollectible accounts	$ 8.3	$ 6.9
Accrual for estimated claims	32.1	$ 20.0
State tax net operating losses, valuation allowance	0.1
Federal and State [Member]
Summary Of Significant Accounting Policies [Line Items]
Incentive tax credit carryforwards	$ 6.4
Software Development [Member]
Summary Of Significant Accounting Policies [Line Items]
Intangible assets estimated useful life	10 years
Leasehold Improvements [Member]
Summary Of Significant Accounting Policies [Line Items]
Property and equipment estimated life, description	the shorter of useful life or lease term
Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Ownership percentage	50.00%
Maximum [Member] \| Customer Concentration Risk [Member] \| Revenue [Member] \| Service [Member]
Summary Of Significant Accounting Policies [Line Items]
Minimum percentage of revenue accounted for by one customer	10.00%	10.00%	10.00%
Maximum [Member] \| Building And Improvement [Member]
Summary Of Significant Accounting Policies [Line Items]
Property and equipment estimated life	40 years
Maximum [Member] \| Computer Equipment and Software [Member]
Summary Of Significant Accounting Policies [Line Items]
Property and equipment estimated life	10 years
Maximum [Member] \| Furniture and Equipment [Member]
Summary Of Significant Accounting Policies [Line Items]
Property and equipment estimated life	10 years
Maximum [Member] \| Transportation Equipment [Member]
Summary Of Significant Accounting Policies [Line Items]
Property and equipment estimated life	16 years

Capital Structure - Additional Information (Detail) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Preferred stock, shares authorized	2,000,000	2,000,000
Class B Common Stock [Member]
Class of Stock [Line Items]
Common stock, rights to vote	84
Class A Common Stock [Member]
Class of Stock [Line Items]
Common stock, rights to vote	one

Reconciliation of Earnings Per Share (Detail) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2020

Sep. 30, 2020

^[1]

Jun. 30, 2020

^[2]

Mar. 31, 2020

Dec. 31, 2019

Sep. 30, 2019

Jun. 30, 2019

Mar. 31, 2019

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Earnings Per Share [Abstract]

Net income from continuing operations for basic and diluted earnings per share

$ 73,559

$ 107,171

$ 87,661

Net income from discontinued operations for basic and diluted earnings per share

114,079

Net income

$ 22,388

$ 24,781

$ 13,154

$ 13,236

$ 27,955

$ 26,105

$ 29,217

$ 23,894

$ 73,559

$ 107,171

$ 201,740

Weighted average shares outstanding - basic

33,180

33,284

33,393

Dilutive effect of restricted stock

363

196

167

Weighted average shares outstanding - diluted

33,543

33,480

33,560

Earnings per share from continuing operations

Basic

$ 2.22

$ 3.22

$ 2.62

Diluted

2.19

3.20

2.61

Earnings per share from discontinued operations

Basic

3.42

Diluted

3.40

Earnings per share net income

Basic

$ 0.67

$ 0.75

$ 0.40

$ 0.85

$ 0.79

$ 0.87

$ 0.71

2.22

3.22

6.04

Diluted

$ 0.67

$ 0.74

$ 0.39

$ 0.40

$ 0.84

$ 0.78

$ 0.87

$ 0.71

$ 2.19

$ 3.20

$ 6.01

[1]	We donated an additional $0.2 million of refrigerated trailers during the third quarter of 2020.
[2]	We donated refrigerated trailers with a carrying value of approximately $5.4 million during the second quarter of 2020 to be used by emergency responders in fighting the COVID-19 pandemic.

Discontinued Operations - Additional Information (Detail) - Mode [Member] - Discontinued Operations Disposed of By Sale [Member] $ in Millions	12 Months Ended
	Dec. 31, 2018 USD ($)
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Net cash (used in) provided by operating activities	$ 4.3
Net cash provided by (used in) investing activities	$ 245.3

Acquisitions - Additional Information (Detail)
$ in Thousands

1 Months Ended

3 Months Ended

12 Months Ended

Dec. 09, 2020

USD ($)

Carrier

Dec. 03, 2018

USD ($)

Apr. 30, 2019

USD ($)

Dec. 31, 2018

USD ($)

Dec. 31, 2020

USD ($)

Sep. 30, 2020

USD ($)

^[1]

Jun. 30, 2020

USD ($)

^[2]

Mar. 31, 2020

USD ($)

Dec. 31, 2019

USD ($)

Sep. 30, 2019

USD ($)

Jun. 30, 2019

USD ($)

Mar. 31, 2019

USD ($)

Dec. 31, 2020

USD ($)

Dec. 31, 2019

USD ($)

Dec. 31, 2018

USD ($)

Business Acquisition [Line Items]

Amortization expense of intangible assets

$ 13,800

Revenue

$ 952,730

$ 924,812

$ 779,243

$ 838,859

$ 900,681

$ 913,275

$ 921,163

$ 932,998

3,495,644

3,668,117

$ 3,683,593

Operating income

$ 31,172

$ 33,917

$ 20,978

$ 19,759

$ 38,864

$ 37,246

$ 40,721

$ 35,589

105,826

$ 152,420

124,919

Nonstop Delivery ,LLC [Member]

Business Acquisition [Line Items]

Business acquisition date

Dec. 09, 2020

Percentage of equity interests acquired

100.00%

Consideration for transaction

$ 103,300

Business acquisition, cash paid

89,700

Settlement of accounts receivable due from subsidiary

$ 13,600

Number of network carriers | Carrier

170

Goodwill and other intangible assets tax deductible, period

15 years

Transaction costs

$ 1,000

Amortization expense of intangible assets

$ 400

Intangible assets, weighted average useful life

14 years 29 days

Revenue

$ 10,200

Operating income

$ 900

CaseStack, Inc. [Member]

Business Acquisition [Line Items]

Consideration for transaction

$ 252,858

Business acquisition, cash paid

249,389

$ 700

$ 248,700

Transaction costs

$ 1,400

Revenue

20,800

Operating income

$ 700

Deferred purchase consideration

$ 3,469

Deferred purchase consideration payable term

24 months

[1]	We donated an additional $0.2 million of refrigerated trailers during the third quarter of 2020.
[2]	We donated refrigerated trailers with a carrying value of approximately $5.4 million during the second quarter of 2020 to be used by emergency responders in fighting the COVID-19 pandemic.

Summarizes the Preliminary Allocation of Total Consideration to Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands		12 Months Ended
	Dec. 09, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 03, 2018
Business Acquisition [Line Items]
Goodwill, net		$ 508,555	$ 484,459	$ 483,584
Cash paid, net		$ 84,845	$ 734	$ 248,656
Nonstop Delivery ,LLC [Member]
Business Acquisition [Line Items]
Cash and cash equivalents	$ 4,829
Accounts receivable trade	26,250
Prepaid expenses and other current assets	207
Property and equipment	2,907
Right of use assets - operating leases	1,105
Goodwill, net	24,315
Other intangibles	56,736
Other assets	42
Total assets acquired	116,391
Accounts payable trade	9,972
Accrued payroll	1,324
Accrued other	578
Lease liability - operating leases	364
Lease liability - financing leases	864
Total liabilities assumed	13,102
Total consideration	103,289
Cash paid, net	$ 84,845
CaseStack, Inc. [Member]
Business Acquisition [Line Items]
Accounts receivable trade					$ 31,896
Prepaid expenses and other current assets					694
Property and equipment					3,247
Deferred tax assets					6,433
Goodwill, net					166,070
Other intangibles					75,600
Other assets					120
Total assets acquired					284,060
Accounts payable trade					24,542
Accrued payroll					2,811
Accrued other					3,849
Total liabilities assumed					31,202
Total consideration					$ 252,858

Components of Other Intangible Acquired (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Other Intangible Assets [Line Items]
Finite-lived intangible assets, Gross Amount	$ 202,159	$ 145,423
Finite-lived intangible assets, Accumulated Amortization	38,206	24,456
Finite-lived intangible assets, Net Carrying Value	163,953	120,967
Customer Relationships [Member]
Other Intangible Assets [Line Items]
Finite-lived intangible assets, Gross Amount	196,806	144,123
Finite-lived intangible assets, Accumulated Amortization	36,765	23,517
Finite-lived intangible assets, Net Carrying Value	160,041	120,606
Agent Relationships [Member]
Other Intangible Assets [Line Items]
Finite-lived intangible assets, Gross Amount	2,432
Finite-lived intangible assets, Accumulated Amortization	51
Finite-lived intangible assets, Net Carrying Value	$ 2,381
Intangible assets estimated useful life	4 years
Trade Name [Member]
Other Intangible Assets [Line Items]
Finite-lived intangible assets, Gross Amount	$ 2,921	1,300
Finite-lived intangible assets, Accumulated Amortization	1,390	939
Finite-lived intangible assets, Net Carrying Value	$ 1,531	$ 361
Intangible assets estimated useful life	18 months	18 months
Nonstop Delivery ,LLC [Member] \| Customer Relationships [Member]
Other Intangible Assets [Line Items]
Finite-lived intangible assets, Gross Amount	$ 52,683
Finite-lived intangible assets, Accumulated Amortization	293
Finite-lived intangible assets, Net Carrying Value	$ 52,390
Intangible assets estimated useful life	15 years
Nonstop Delivery ,LLC [Member] \| Agent Relationships [Member]
Other Intangible Assets [Line Items]
Finite-lived intangible assets, Gross Amount	$ 2,432
Finite-lived intangible assets, Accumulated Amortization	51
Finite-lived intangible assets, Net Carrying Value	$ 2,381
Intangible assets estimated useful life	4 years
Nonstop Delivery ,LLC [Member] \| Trade Name [Member]
Other Intangible Assets [Line Items]
Finite-lived intangible assets, Gross Amount	$ 1,621
Finite-lived intangible assets, Accumulated Amortization	90
Finite-lived intangible assets, Net Carrying Value	$ 1,531
Intangible assets estimated useful life	18 months

Summary of Total Purchase Price Allocated to Net Assets Acquired (Detail) - CaseStack, Inc. [Member] - USD ($) $ in Thousands		1 Months Ended
	Dec. 03, 2018	Apr. 30, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Cash paid	$ 249,389	$ 700	$ 248,700
Deferred purchase consideration	3,469
Total consideration	$ 252,858

Unaudited Pro forma Consolidated Results of Operations (Detail) - CaseStack, Inc. and Hub Group Dedicated [Member] - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Revenue	$ 3,584,538	$ 3,733,507	$ 3,912,745
Income from continuing operations	$ 84,874	$ 107,998	$ 133,310
Earnings per share
Basic	$ 2.56	$ 3.24	$ 2.81
Diluted	$ 2.53	$ 3.23	$ 2.79

Revenue from Contracts with Customers - Additional Information (Detail)	Dec. 09, 2020 Carrier
Nonstop Delivery ,LLC [Member]
Revenue From Contracts With Customers [Line Items]
Number of network carriers	170

Summary of Disaggregated Revenue by Business Line (Detail) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2020

Sep. 30, 2020

^[1]

Jun. 30, 2020

^[2]

Mar. 31, 2020

Dec. 31, 2019

Sep. 30, 2019

Jun. 30, 2019

Mar. 31, 2019

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Disaggregation Of Revenue [Line Items]

Revenue

$ 952,730

$ 924,812

$ 779,243

$ 838,859

$ 900,681

$ 913,275

$ 921,163

$ 932,998

$ 3,495,644

$ 3,668,117

$ 3,683,593

Intermodal [Member]

Disaggregation Of Revenue [Line Items]

Revenue

2,091,984

2,166,382

2,219,739

Logistics [Member]

Disaggregation Of Revenue [Line Items]

Revenue

704,824

769,195

673,715

Truck brokerage [Member]

Disaggregation Of Revenue [Line Items]

Revenue

431,127

433,793

497,282

Dedicated [Member]

Disaggregation Of Revenue [Line Items]

Revenue

$ 267,709

$ 298,747

$ 292,857

[1]	We donated an additional $0.2 million of refrigerated trailers during the third quarter of 2020.
[2]	We donated refrigerated trailers with a carrying value of approximately $5.4 million during the second quarter of 2020 to be used by emergency responders in fighting the COVID-19 pandemic.

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Intangible Assets [Line Items]
Goodwill accumulated impairment loss	$ 0
Amortization expense of intangible assets	$ 13,800,000	$ 13,800,000
Weighted Average [Member]
Intangible Assets [Line Items]
Weighted average life of definite lived intangible assets	10 years 11 months 23 days

Carrying Amount of Goodwill (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill, Beginning Balance	$ 484,459	$ 483,584
Acquisition	24,315	1,094
Other	(219)	(219)
Goodwill, Ending Balance	$ 508,555	$ 484,459

Components of Other Intangible Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Other Intangible Assets [Line Items]
Finite-lived intangible assets, Gross Amount	$ 202,159	$ 145,423
Finite-lived intangible assets, Accumulated Amortization	(38,206)	(24,456)
Finite-lived intangible assets, Net Carrying Value	163,953	120,967
Customer Relationships [Member]
Other Intangible Assets [Line Items]
Finite-lived intangible assets, Gross Amount	196,806	144,123
Finite-lived intangible assets, Accumulated Amortization	(36,765)	(23,517)
Finite-lived intangible assets, Net Carrying Value	$ 160,041	$ 120,606
Customer Relationships [Member] \| Minimum [Member]
Other Intangible Assets [Line Items]
Intangible assets estimated useful life	5 years	5 years
Customer Relationships [Member] \| Maximum [Member]
Other Intangible Assets [Line Items]
Intangible assets estimated useful life	15 years	15 years
Agent Relationships [Member]
Other Intangible Assets [Line Items]
Finite-lived intangible assets, Gross Amount	$ 2,432
Finite-lived intangible assets, Accumulated Amortization	(51)
Finite-lived intangible assets, Net Carrying Value	$ 2,381
Intangible assets estimated useful life	4 years
Trade Name [Member]
Other Intangible Assets [Line Items]
Finite-lived intangible assets, Gross Amount	$ 2,921	$ 1,300
Finite-lived intangible assets, Accumulated Amortization	(1,390)	(939)
Finite-lived intangible assets, Net Carrying Value	$ 1,531	$ 361
Intangible assets estimated useful life	18 months	18 months

Amortization Expense (Detail) $ in Thousands	Dec. 31, 2020 USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
Year 1	$ 17,943
Year 2	17,270
Year 3	16,675
Year 4	15,030
Year 5	$ 14,472

Reconciliation of Effective Tax Rate to Federal Statutory Tax Rate (Detail)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
United States federal statutory rate	21.00%	21.00%	21.00%
Federal tax law changes			0.50%
State taxes, net of federal benefit	3.60%	3.50%	3.70%
Federal and state incentives	(1.10%)	(0.90%)	(0.90%)
State law changes	(0.20%)	0.70%
Permanent differences	0.20%	1.20%	0.60%
Net effective rate	23.50%	25.50%	24.90%

Summary of Provision for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current
Federal	$ 11,913	$ 31,209	$ (13,750)
State and local	3,597	3,979	1,740
Foreign	11	84	(234)
Current income tax expense, total	15,521	35,272	(12,244)
Deferred
Federal	6,548	(344)	36,968
State and local	465	1,788	4,134
Foreign	7	(17)	206
Deferred income tax expense, total	7,020	1,427	41,308
Total provision	$ 22,541	$ 36,699	$ 29,064

Summary of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Accrued compensation	$ 12,467	$ 13,153
Other reserves	14,154	10,297
Tax credit carryforwards	8,715	6,669
Operating loss carryforwards	2,845	4,879
Lease accounting liability	11,669	10,195
Total gross deferred income taxes	49,850	45,193
Valuation allowances	(6,518)	(4,713)
Total deferred tax assets	43,332	40,480
Prepaids	(6,404)	(4,774)
Other receivables		(656)
Property and equipment	(132,669)	(124,964)
Goodwill	(55,166)	(55,195)
Lease right-of-use asset	(11,418)	(10,195)
Total deferred tax liabilities	(205,657)	(195,784)
Total deferred taxes	$ (162,325)	$ (155,304)

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Taxes [Line Items]
Operating loss carryforwards	$ 2,845	$ 4,879
Valuation allowances	6,518	4,713
Incentive tax credit carryforwards	8,715	6,669
Unrecognized tax benefits	4,292	4,069	$ 3,894
Potential increase (decrease) in income tax provision	3,700	3,400
CaseStack, Inc. [Member] \| Internal Revenue Service [Member]
Income Taxes [Line Items]
Operating loss carryforwards	1,300	$ 1,300
Federal [Member]
Income Taxes [Line Items]
Operating loss carryforwards	1,500
Incentive tax credit carryforwards	100
Federal [Member] \| CaseStack, Inc. [Member]
Income Taxes [Line Items]
Operating loss carryforwards			$ 4,100
State [Member]
Income Taxes [Line Items]
Operating loss carryforwards	1,200
Incentive tax credit carryforwards	8,600
State [Member] \| Loss Carryforward [Member] \| CaseStack, Inc. [Member]
Income Taxes [Line Items]
Valuation allowances	55
State [Member] \| Tax Incentive Credit Carryforwards [Member]
Income Taxes [Line Items]
Valuation allowances	6,400
Minimum [Member]
Income Taxes [Line Items]
Possible reduction in unrecognized tax benefits resulting from audit settlements	$ 1,000
Minimum [Member] \| CaseStack, Inc. [Member]
Income Taxes [Line Items]
Operating loss carryforwards, expiration date	Dec. 31, 2021
Minimum [Member] \| Federal [Member]
Income Taxes [Line Items]
Tax credit carryforward, expiration date	Dec. 31, 2025
Minimum [Member] \| State [Member]
Income Taxes [Line Items]
Tax credit carryforward, expiration date	Dec. 31, 2021
Maximum [Member]
Income Taxes [Line Items]
Possible increase in unrecognized tax benefits resulting from audit settlements	$ 1,000
Maximum [Member] \| CaseStack, Inc. [Member]
Income Taxes [Line Items]
Operating loss carryforwards, expiration date	Dec. 31, 2039
Maximum [Member] \| Federal [Member]
Income Taxes [Line Items]
Tax credit carryforward, expiration date	Dec. 31, 2028
Maximum [Member] \| State [Member]
Income Taxes [Line Items]
Tax credit carryforward, expiration date	Dec. 31, 2025

Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Gross unrecognized tax benefits - beginning of the year	$ 4,069	$ 3,894
Gross (decreases) related to prior year tax positions	(52)
Gross increases related to prior year tax positions		74
Gross increases related to current year tax positions	1,484	506
Lapse of applicable statute of limitations	(1,209)	(405)
Gross unrecognized tax benefits - end of year	$ 4,292	$ 4,069

Fair Value Measurement - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Fair Value Measurement [Line Items]
Carrying value of debt	$ 270,359	$ 281,625
Restricted investments	23,400	22,600
Fixed-rate Borrowings [Member]
Fair Value Measurement [Line Items]
Increase (decrease) in fair value of debt	6,100	3,800
Carrying value of debt	$ 270,400	$ 281,600

Property and Equipment (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property and Equipment, gross	$ 1,124,628	$ 1,033,711
Less: Accumulated depreciation and amortization	(453,527)	(370,546)
Property and Equipment, net	671,101	663,165
Land [Member]
Property, Plant and Equipment [Line Items]
Property and Equipment, gross	24,708	24,708
Building And Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and Equipment, gross	36,649	36,602
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and Equipment, gross	7,686	7,300
Computer Equipment and Software [Member]
Property, Plant and Equipment [Line Items]
Property and Equipment, gross	145,139	132,413
Furniture And Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and Equipment, gross	14,732	14,057
Transportation Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and Equipment, gross	862,247	800,300
Construction In Progress [Member]
Property, Plant and Equipment [Line Items]
Property and Equipment, gross	$ 33,467	$ 18,331

Property and Equipment - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property Plant And Equipment [Abstract]
Depreciation and amortization expense related to property and equipment	$ 95.3	$ 89.5	$ 75.1

Long-Term Debt and Financing Arrangements - Additional Information (Detail) - USD ($)		12 Months Ended
	Jul. 01, 2017	Dec. 31, 2020
Letter of Credit [Member]
Line Of Credit Facility [Line Items]
Commitment fee on unused commitments	2.00%
Standby Letters of Credit [Member]
Line Of Credit Facility [Line Items]
Letters of credit expiration, year		2021
Outstanding letters of credit		$ 37,700,000
Credit Agreement [Member]
Line Of Credit Facility [Line Items]
Amount of credit agreement	$ 350,000,000
Term of credit agreement	5 years
Credit agreement interest rate description		(i) LIBOR plus a specified margin based upon Hub’s total net leverage ratio (as defined in the Credit Agreement) (the "Total Net Leverage Ratio"), or (ii) the base rate (which is the highest of (a) the administrative agent's prime rate, (b) the federal funds rate plus 0.50% or (c) the sum of 1% plus one-month LIBOR) plus a specified margin based upon the Total Net Leverage Ratio.
Commitment fee on unused commitments	0.25%
Borrowings under bank revolving line of credit		$ 0
Unused and available borrowings under bank revolving line of credit and credit agreement		$ 312,300,000
Credit Agreement [Member] \| Federal Funds Rate [Member]
Line Of Credit Facility [Line Items]
Interest rate under the credit agreement	0.50%
Credit Agreement [Member] \| LIBOR rate [Member]
Line Of Credit Facility [Line Items]
Interest rate under the credit agreement	1.00%
Description of variable rate basis		one-month LIBOR
Credit Agreement [Member] \| Eurodollar
Line Of Credit Facility [Line Items]
Interest rate under the credit agreement	2.00%
Credit Agreement [Member] \| Base Rate
Line Of Credit Facility [Line Items]
Interest rate under the credit agreement	1.00%

Schedule of Outstanding Debt (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Interim funding for equipment received and expected to be converted to an equipment note in subsequent year; interest paid at a variable rate	$ 8,902
Secured long-term debt	270,359	$ 281,625
Less current portion	(93,562)	(94,691)
Total long-term debt	176,797	186,934
Secured Equipment Notes due in 2025 [Member]
Debt Instrument [Line Items]
Secured long-term debt	74,494
Secured Equipment Notes due in 2024 [Member]
Debt Instrument [Line Items]
Secured long-term debt	49,920	62,690
Secured Equipment Notes due in 2023 [Member]
Debt Instrument [Line Items]
Secured long-term debt	112,668	153,350
Secured Equipment Notes due in 2022 [Member]
Debt Instrument [Line Items]
Secured long-term debt	8,943	16,892
Secured Equipment Notes due in 2021 [Member]
Debt Instrument [Line Items]
Secured long-term debt	$ 15,432	35,076
Secured Equipment Notes due in 2020 [Member]
Debt Instrument [Line Items]
Secured long-term debt		$ 13,617

Schedule of Outstanding Debt (Parenthetical) (Detail)	12 Months Ended
Schedule of Outstanding Debt (Parenthetical) (Detail)	Dec. 31, 2020
Secured Equipment Notes due in 2025 [Member]
Debt Instrument [Line Items]
Equipment notes due period	2025
Payment Frequency	monthly
Secured Equipment Notes due in 2025 [Member] \| Commencing on 2020 [Member]
Debt Instrument [Line Items]
Equipment notes, date of first required payment	2020
Secured Equipment Notes due in 2024 [Member]
Debt Instrument [Line Items]
Equipment notes due period	2024
Payment Frequency	monthly
Secured Equipment Notes due in 2024 [Member] \| Commencing on 2020 [Member]
Debt Instrument [Line Items]
Equipment notes, date of first required payment	2020
Secured Equipment Notes due in 2024 [Member] \| Commencing on 2019 [Member]
Debt Instrument [Line Items]
Equipment notes, date of first required payment	2019
Secured Equipment Notes due in 2024 [Member] \| Commencing on 2017 [Member]
Debt Instrument [Line Items]
Equipment notes, date of first required payment	2017
Secured Equipment Notes due in 2021 [Member]
Debt Instrument [Line Items]
Equipment notes due period	2021
Payment Frequency	monthly
Secured Equipment Notes due in 2021 [Member] \| Commencing on 2017 [Member]
Debt Instrument [Line Items]
Equipment notes, date of first required payment	2017
Secured Equipment Notes due in 2021 [Member] \| Commencing on 2014 [Member]
Debt Instrument [Line Items]
Equipment notes, date of first required payment	2014
Secured Equipment Notes due in 2020 [Member]
Debt Instrument [Line Items]
Equipment notes due period	2020
Payment Frequency	monthly
Secured Equipment Notes due in 2020 [Member] \| Commencing on 2015 [Member]
Debt Instrument [Line Items]
Equipment notes, date of first required payment	2015
Secured Equipment Notes due in 2020 [Member] \| Commencing on 2016 [Member]
Debt Instrument [Line Items]
Equipment notes, date of first required payment	2016
Secured Equipment Notes due in 2023 [Member]
Debt Instrument [Line Items]
Equipment notes due period	2023
Payment Frequency	monthly
Secured Equipment Notes due in 2023 [Member] \| Commencing on 2019 [Member]
Debt Instrument [Line Items]
Equipment notes, date of first required payment	2019
Secured Equipment Notes due in 2023 [Member] \| Commencing on 2016 [Member]
Debt Instrument [Line Items]
Equipment notes, date of first required payment	2016
Secured Equipment Notes due in 2022 [Member]
Debt Instrument [Line Items]
Equipment notes due period	2022
Payment Frequency	monthly
Secured Equipment Notes due in 2022 [Member] \| Commencing on 2017 [Member]
Debt Instrument [Line Items]
Equipment notes, date of first required payment	2017
Secured Equipment Notes due in 2022 [Member] \| Commencing on 2015 [Member]
Debt Instrument [Line Items]
Equipment notes, date of first required payment	2015
Minimum [Member] \| Secured Equipment Notes due in 2025 [Member]
Debt Instrument [Line Items]
Interest rate secured debt	1.51%
Minimum [Member] \| Secured Equipment Notes due in 2024 [Member]
Debt Instrument [Line Items]
Interest rate secured debt	2.50%
Minimum [Member] \| Secured Equipment Notes due in 2021 [Member]
Debt Instrument [Line Items]
Interest rate secured debt	2.02%
Minimum [Member] \| Secured Equipment Notes due in 2020 [Member]
Debt Instrument [Line Items]
Interest rate secured debt	1.72%
Minimum [Member] \| Secured Equipment Notes due in 2023 [Member]
Debt Instrument [Line Items]
Interest rate secured debt	2.20%
Minimum [Member] \| Secured Equipment Notes due in 2022 [Member]
Debt Instrument [Line Items]
Interest rate secured debt	2.20%
Maximum [Member] \| Secured Equipment Notes due in 2025 [Member]
Debt Instrument [Line Items]
Interest rate secured debt	1.80%
Maximum [Member] \| Secured Equipment Notes due in 2024 [Member]
Debt Instrument [Line Items]
Interest rate secured debt	3.59%
Maximum [Member] \| Secured Equipment Notes due in 2021 [Member]
Debt Instrument [Line Items]
Interest rate secured debt	2.96%
Maximum [Member] \| Secured Equipment Notes due in 2020 [Member]
Debt Instrument [Line Items]
Interest rate secured debt	2.78%
Maximum [Member] \| Secured Equipment Notes due in 2023 [Member]
Debt Instrument [Line Items]
Interest rate secured debt	4.20%
Maximum [Member] \| Secured Equipment Notes due in 2022 [Member]
Debt Instrument [Line Items]
Interest rate secured debt	2.90%

Summary of Aggregate Principal Payments (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
Year 1	$ 93,562
Year 2	77,205
Year 3	58,373
Year 4	26,863
Year 5	14,356
Secured long-term debt	$ 270,359	$ 281,625

Leases - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Lease And Rental Expense [Line Items]
Right-of-use asset	$ 47.1	$ 41.4
Lease liability	48.2	$ 42.0
Expected annual subleases income	0.4
ASU No. 2016-02 [Member]
Lease And Rental Expense [Line Items]
Estimated ROU assets and lease liabilities	$ 0.6

Leases - Summary of Lease Costs (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Amortization of finance right-of-use assets	$ 2,309	$ 2,326
Interest on finance lease liabilities	135	252
Finance lease cost	2,444	2,578
Operating lease cost	10,946	10,861
Short-term lease cost	238	289
Sublease income	(469)	(507)
Total lease cost	$ 13,159	$ 13,221

Leases - Schedule of Maturity of Operating and Finance Leases Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating Leases Liability, Year 1	$ 11,082	$ 9,703
Operating Leases Liability, Year 2	9,714	8,361
Operating Leases Liability, Year 3	7,607	7,029
Operating Leases Liability, Year 4	6,369	4,861
Operating Leases Liability, Year 5	6,312	3,706
Operating Leases Liability, Thereafter	8,803	7,190
Operating Leases Liability, Total	49,887	40,850
Operating Leases Liability, Imputed interest	3,466	3,765
Operating Leases Liability, Present value of lease payments	46,421	37,085
Less: Operating Leases Liability, Current lease liabilities	10,093	8,567
Operating Leases Liability, Long-term lease liabilities	$ 36,328	$ 28,518

Leases - Schedule of Future Minimum Lease Payments Under Operating and Finance Leases (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Finance Lease Liability, Year 1	$ 1,817	$ 3,183
Finance Lease Liability, Year 2	8	1,836
Finance Lease Liability, Year 3		8
Finance Leases Liability, Total	1,825	5,027
Finance Leases Liability, Imputed interest	24	159
Finance Leases Liability, Present value of lease payments	1,801	4,868
Less: Finance Leases Liability, current lease liabilities	1,793	3,048
Finance Leases Liability, Long-term lease liabilities	8	1,820
Total Lease Liability, Year 1	12,899	12,886
Total Lease Liability, Year 2	9,722	10,197
Total Lease Liability, Year 3	7,607	7,037
Total Lease Liability, Year 4	6,369	4,861
Total Lease Liability, Year 5	6,312	3,706
Total Lease Liability, Thereafter	8,803	7,190
Total Leases Liability	51,712	45,877
Total Leases Liability, Imputed interest	3,490	3,924
Total Leases Liability, Present value of lease payments	48,222	41,953
Less: Total Leases Liability, current lease liabilities	11,886	11,615
Total Leases Liability, Long-term lease liabilities	36,336	30,338
Operating Leases Liability, Year 1	11,082	9,703
Operating Leases Liability, Year 2	9,714	8,361
Operating Leases Liability, Year 3	7,607	7,029
Operating Leases Liability, Year 4	6,369	4,861
Operating Leases Liability, Year 5	6,312	3,706
Operating Leases Liability, Thereafter	8,803	7,190
Operating Leases Liability, Total	49,887	40,850
Operating Leases Liability, Imputed interest	3,466	3,765
Operating Leases Liability, Present value of lease payments	46,421	37,085
Less: Operating Leases Liability, Current lease liabilities	10,093	8,567
Operating Leases Liability, Long-term lease liabilities	$ 36,328	$ 28,518

Leases - Summary of Supplemental Cash Flow and Noncash Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Leases [Abstract]
Operating cash flows from operating leases	$ 9,419	$ 9,702
Financing cash flows from finance leases	3,066	2,954	$ 2,889
Operating cash flows from finance leases	135	252
Cash paid for lease liabilities	12,620	12,908
Right-of-use assets obtained in exchange for new financing lease liabilities (net of disposals)	(71)	6
Rights-of-use assets obtained in exchange for new operating lease liabilities (net of disposals)	$ 17,875	$ 13,242

Leases - Summary of Weighted Average Remaining Lease Term and Discount Rates (Detail)	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Weighted average remaining lease term — finance leases	7 months 6 days	1 year 7 months 2 days
Weighted average remaining lease term — operating leases	5 years 7 months 9 days	5 years 4 months 17 days
Weighted average discount rate — finance leases	3.88%	3.88%
Weighted average discount rate — operating leases	2.64%	3.44%

Internal-Use Software - Additional Information (Detail) - Early Adoption ASU 2018-15 [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Line Items]
Capitalized internal use software costs and implementation costs net of accumulated amortizations	$ 64.1	$ 64.8
Capitalized implementation and internal-use software costs during the period	$ 12.7	21.9
Minimum [Member]
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Line Items]
Capitalized implementation and internal-use software costs amortization period	10 years
Property and Equipment, Net [Member]
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Line Items]
Capitalized internal use software costs and implementation costs net of accumulated amortizations	$ 50.2	50.4
Other Assets [Member]
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Line Items]
Capitalized internal use software costs and implementation costs net of accumulated amortizations	$ 13.9	$ 14.4

Stock-Based Compensation Plans - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	12 Months Ended
	Jan. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense related to share-based compensation plans		$ 17.1	$ 16.3	$ 13.5
Compensation expense related to share-based compensation plans, net of tax		$ 13.1	$ 12.1	$ 10.1
Time Based Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock grants		339,196	387,841	500,943
Restricted stock grants, Weighted average grant date fair value		$ 52.07	$ 38.02	$ 47.34
Unrecognized compensation cost related to non-vested share-based compensation		$ 27.5	$ 27.4	$ 31.5
Unrecognized compensation cost weighted average period recognized (years)		2 years 5 months 19 days	2 years 10 months 28 days	2 years 9 months 21 days
Time Based Restricted Stock [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock vesting period		1 year	1 year	1 year
Time Based Restricted Stock [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock vesting period		5 years	5 years	5 years
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense related to share-based compensation plans		$ 4.5	$ 3.4	$ 1.8
Compensation expense related to share-based compensation plans, net of tax		$ 3.5	2.6	1.3
Performance Based Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock performance shares earned		200.00%
Additional restricted shares issued		57,000
Restricted stock vesting date		Dec. 04, 2020
Restricted stock grants		132,288
Restricted stock grants, Weighted average grant date fair value		$ 51.07
Unrecognized compensation cost related to non-vested share-based compensation		$ 3.5	$ 4.2	$ 2.4
Unrecognized compensation cost weighted average period recognized (years)		1 year 6 months	1 year 6 months	2 years
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock grants, Weighted average grant date fair value	$ 57.00
Total fair value of restricted shares vested		$ 17.8	$ 14.7	$ 13.3
2017 Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future grant		828,022
Non-employee Directors [Member] \| Time Based Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock vesting period		1 year
Employees [Member] \| Time Based Restricted Stock [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock vesting period		3 years
Employees [Member] \| Time Based Restricted Stock [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock vesting period		5 years
Employees [Member] \| Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock vesting period	3 years
Restricted stock grants	79,608
Employees [Member] \| Performance Based Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock vesting period		3 years
Restricted stock grants		75,288	76,500	89,143
Restricted stock grants, Weighted average grant date fair value		$ 51.07	$ 37.20	$ 49.20
Employees [Member] \| Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock vesting period	5 years
Restricted stock grants	265,308
Employees [Member] \| Time Based Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock grants	185,700
Outside Directors [Member] \| Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock vesting period	1 year
Restricted stock grants	24,563

Stock-Based Compensation Plans - Schedule of Non-Vested Restricted Stock Activity (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Time Based Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value Non-vested, Beginning balance	$ 41.34
Weighted average grant date fair value, Granted	52.07	$ 38.02	$ 47.34
Weighted average grant date fair value, Vested	43.19
Weighted average grant date fair value, Forfeited	43.92
Weighted average grant date fair value Non-vested, Ending balance	$ 46.01	$ 41.34
Shares Non-vested, Beginning balance	875,492
Shares, Granted	339,196	387,841	500,943
Shares, Vested	(311,077)
Shares, Forfeited	(111,128)
Shares Non-vested, Ending balance	792,483	875,492
Performance Based Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value Non-vested, Beginning balance	$ 43.04
Weighted average grant date fair value, Granted	51.07
Weighted average grant date fair value, Vested	49.20
Weighted average grant date fair value, Forfeited	44.45
Weighted average grant date fair value Non-vested, Ending balance	$ 45.64	$ 43.04
Shares Non-vested, Beginning balance	127,500
Shares, Granted	132,288
Shares, Vested	(114,000)
Shares, Forfeited	(16,310)
Shares Non-vested, Ending balance	129,478	127,500

Stock-Based Compensation Plans - Restricted Stock Granted (Detail) - Time Based Restricted Stock [Member] - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock grants	339,196	387,841	500,943
Restricted stock grants, Weighted average grant date fair value	$ 52.07	$ 38.02	$ 47.34
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock vesting period	1 year	1 year	1 year
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock vesting period	5 years	5 years	5 years
Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock grants	312,855	355,579	463,818
Outside Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock grants	26,341	32,262	37,125

Employee Benefit Plans - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Expenses related to employer contributions	$ 3.3	$ 3.3	$ 2.6
Expenses related to deferred compensation plan	0.3	0.3	$ 0.3
Deferred compensation liability	$ 23.4	$ 22.6
Nonqualified Deferred Compensation Plan [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Percent match by employer on the first 6% of employee compensation	50.00%
Maximum percent of compensation employer will match	3.00%

Legal Matters - Additional Information (Detail) $ in Millions		1 Months Ended
	Aug. 05, 2015 Plaintiff Employee	Sep. 30, 2020 USD ($)
Robles Lawsuits [Member]
Loss Contingencies [Line Items]
Number of plaintiffs against HGT \| Plaintiff	63
Number of employees filed lawsuit \| Employee	5
Robles and Adame Lawsuits \| Accrued Other [Member]
Loss Contingencies [Line Items]
Claims settlement recorded in consolidated balance sheet		$ 4.8
Robles and Adame Lawsuits \| General and Administrative Expense
Loss Contingencies [Line Items]
Claims settlement recorded in consolidated statement of income and comprehensive income		$ 4.8

Accrued Other - Additional Information (Detail) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Discontinued Operations And Disposal Groups [Abstract]
Accrued chassis costs current included in accrued other	$ 40.8	$ 23.8
Percentage of total current liabilities included in accrued other	5.00%

Stock Repurchase Plans - Additional Information (Detail) - USD ($)	1 Months Ended											12 Months Ended
	Dec. 31, 2020	Nov. 30, 2020	Oct. 31, 2020	Sep. 30, 2020	Aug. 31, 2020	Jul. 31, 2020	Jun. 30, 2020	May 31, 2020	Apr. 30, 2020	Feb. 28, 2020	Jan. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	May 23, 2019
Equity Class Of Treasury Stock [Line Items]
Purchase of treasury shares (in shares)	68,433	1,883	435	126	123	1,647	389	1,318	2,171	2,571	69,146	148,242
Purchase of treasury shares													$ 24,998,000
Class A Common Stock [Member]
Equity Class Of Treasury Stock [Line Items]
Stock repurchase program, authorized amount															$ 100,000,000
Purchase of treasury shares (in shares)												0	626,320
Purchase of treasury shares													$ 25,000,000.0
Class A Common Stock [Member] \| Employee Restricted Stock Plan [Member]
Equity Class Of Treasury Stock [Line Items]
Purchase of treasury shares												$ 8,000,000.0	$ 4,000,000.0	$ 4,300,000
Stock tendered for payments of withholding taxes (in shares)												148,242	98,260	87,381

Stock Repurchase Plans - Schedule of Number of Shares Purchased and Maximum Value of Shares that May Yet Be Purchased Under the Plan (Detail) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended											12 Months Ended
	Dec. 31, 2020	Nov. 30, 2020	Oct. 31, 2020	Sep. 30, 2020	Aug. 31, 2020	Jul. 31, 2020	Jun. 30, 2020	May 31, 2020	Apr. 30, 2020	Feb. 28, 2020	Jan. 31, 2020	Dec. 31, 2020	Mar. 31, 2020
Equity Class Of Treasury Stock [Line Items]
Total Number of Shares Purchased	68,433	1,883	435	126	123	1,647	389	1,318	2,171	2,571	69,146	148,242
Average Price Paid Per Share	$ 55.58	$ 50.23	$ 52.72	$ 51.74	$ 54.54	$ 50.15	$ 47.01	$ 42.80	$ 46.20	$ 54.41	$ 52.49	$ 53.70
Maximum Value of Shares that May Yet Be Purchased Under the Plan	$ 75,002	$ 75,002	$ 75,002	$ 75,002	$ 75,002	$ 75,002	$ 75,002	$ 75,002	$ 75,002	$ 75,002	$ 75,002	$ 75,002	$ 75,002

Selected Quarterly Financial Data (Unaudited) - Summary of Selected Quarterly Financial Data (Detail) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2020

Sep. 30, 2020

^[1]

Jun. 30, 2020

^[2]

Mar. 31, 2020

Dec. 31, 2019

Sep. 30, 2019

Jun. 30, 2019

Mar. 31, 2019

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Revenue

$ 952,730

$ 924,812

$ 779,243

$ 838,859

$ 900,681

$ 913,275

$ 921,163

$ 932,998

$ 3,495,644

$ 3,668,117

$ 3,683,593

Gross margin

105,559

108,035

107,249

104,594

125,860

135,218

132,703

127,289

425,437

521,070

445,601

Operating income

31,172

33,917

20,978

19,759

38,864

37,246

40,721

35,589

105,826

152,420

124,919

Income before provision for income taxes

29,038

31,558

18,019

17,485

37,273

35,135

38,596

32,866

96,100

143,870

116,725

Net income

$ 22,388

$ 24,781

$ 13,154

$ 13,236

$ 27,955

$ 26,105

$ 29,217

$ 23,894

$ 73,559

$ 107,171

$ 201,740

Earnings per share net income

Basic

$ 0.67

$ 0.75

$ 0.40

$ 0.85

$ 0.79

$ 0.87

$ 0.71

$ 2.22

$ 3.22

$ 6.04

Diluted

$ 0.67

$ 0.74

$ 0.39

$ 0.40

$ 0.84

$ 0.78

$ 0.87

$ 0.71

$ 2.19

$ 3.20

$ 6.01

[1]	We donated an additional $0.2 million of refrigerated trailers during the third quarter of 2020.
[2]	We donated refrigerated trailers with a carrying value of approximately $5.4 million during the second quarter of 2020 to be used by emergency responders in fighting the COVID-19 pandemic.

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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