0000950170-23-058706 | 10-Q | XBRL Viewer

Earnings Per Share

9 Months Ended

Sep. 30, 2023

NOTE 2. Earnings Per Share

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022

Net income	$	30,459	$	87,325	$	138,743	$	277,674

Weighted average shares outstanding - basic		31,139		33,145		31,908		33,480

Dilutive effect of restricted stock		354		376		300		327

Weighted average shares outstanding - diluted		31,493		33,521		32,208		33,807

Earnings per share - basic	$	0.98	$	2.63	$	4.35	$	8.29

Earnings per share - diluted	$	0.97	$	2.61	$	4.31	$	8.21

Fair Value Measurement	9 Months Ended
Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurement	NOTE 4. Fair Value Measurement The carrying value of cash and cash equivalents, accounts receivable and accounts payable approximated fair value as of September 30, 2023 and December 31, 2022. As of September 30, 2023, the fair value of the Company’s fixed-rate borrowings was $8.9 million less than the historical carrying value of $346.6 million. As of December 31, 2022, the fair value of the Company's fixed-rate borrowings was $11.7 million less than the historical carrying value of $342.5 million. 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 September 30, 2023 and December 31, 2022, our cash and temporary investments were with high quality financial institutions in demand deposit accounts, savings accounts, checking accounts and money market accounts. Restricted investments included $19.8 million and $18.1 million as of September 30, 2023 and December 31, 2022, respectively, of mutual funds which are reported at fair value. These investments relate to our non-qualified deferred compensation plan and insurance deposits. Our assets and liabilities measured at fair value are based on valuation techniques that 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, which are observable either directly or indirectly (Level 2), or unobservable inputs (Level 3). Cash and cash equivalents, mutual funds, accounts receivable and accounts payable 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.

Fair Value Measurement

9 Months Ended

Sep. 30, 2023

Fair Value Disclosures [Abstract]

Fair Value Measurement

NOTE 4. Fair Value Measurement

The carrying value of cash and cash equivalents, accounts receivable and accounts payable approximated fair value as of September 30, 2023 and December 31, 2022. As of September 30, 2023, the fair value of the Company’s fixed-rate borrowings was $8.9 million less than the historical carrying value of $346.6 million. As of December 31, 2022, the fair value of the Company's fixed-rate borrowings was $11.7 million less than the historical carrying value of $342.5 million. 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 September 30, 2023 and December 31, 2022, our cash and temporary investments were with high quality financial institutions in demand deposit accounts, savings accounts, checking accounts and money market accounts.

Restricted investments included $19.8 million and $18.1 million as of September 30, 2023 and December 31, 2022, respectively, of mutual funds which are reported at fair value. These investments relate to our non-qualified deferred compensation plan and insurance deposits.

Our assets and liabilities measured at fair value are based on valuation techniques that 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, which are observable either directly or indirectly (Level 2), or unobservable inputs (Level 3). Cash and cash equivalents, mutual funds, accounts receivable and accounts payable 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

Interim Financial Statements	9 Months Ended
Sep. 30, 2023
Quarterly Financial Information Disclosure [Abstract]
Interim Financial Statements	NOTE 1. Interim Financial Statements Our accompanying unaudited consolidated financial statements of Hub Group, Inc. (the “Company,” “Hub,” “we,” “us” or “our”) have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in annual financial statements have been omitted pursuant to those rules and regulations. However, we believe that the disclosures contained herein are adequate to make the information presented not misleading. The financial statements reflect, in our opinion, all material adjustments (which include only normal recurring adjustments) necessary to fairly present our financial position as of September 30, 2023 and results of operations for the three and nine months ended September 30, 2023 and 2022. These unaudited consolidated financial statements and notes thereto should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2022 (the “2022 10-K”). Results of operations in interim periods are not necessarily indicative of results to be expected for a full year due partially to seasonality. Reclassifications: Due to presentation changes made in our consolidated income statement, certain prior year amounts have been reclassified to conform with the current year presentation.

Interim Financial Statements

9 Months Ended

Sep. 30, 2023

Quarterly Financial Information Disclosure [Abstract]

Interim Financial Statements

NOTE 1. Interim Financial Statements

Our accompanying unaudited consolidated financial statements of Hub Group, Inc. (the “Company,” “Hub,” “we,” “us” or “our”) have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in annual financial statements have been omitted pursuant to those rules and regulations. However, we believe that the disclosures contained herein are adequate to make the information presented not misleading.

The financial statements reflect, in our opinion, all material adjustments (which include only normal recurring adjustments) necessary to fairly present our financial position as of September 30, 2023 and results of operations for the three and nine months ended September 30, 2023 and 2022.

These unaudited consolidated financial statements and notes thereto should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2022 (the “2022 10-K”). Results of operations in interim periods are not necessarily indicative of results to be expected for a full year due partially to seasonality.

Reclassifications: Due to presentation changes made in our consolidated income statement, certain prior year amounts have been reclassified to conform with the current year presentation.

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net Income (Loss)	$ 138,743	$ 277,674
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	136,775	111,413
Impairment of right-of-use asset	2,012	5,361
Deferred taxes	18,832	(1,427)
Compensation expense related to share-based compensation plans	16,031	14,973
Gain on sale of assets	(5,599)	(21,097)
Changes in operating assets and liabilities:
Restricted investments	(1,744)	7,368
Accounts receivable, net	83,664	(55,994)
Prepaid taxes	(2,108)	(1,408)
Prepaid expenses and other current assets	6,161	6,818
Other assets	(2,515)	(3,381)
Accounts payable	516	(21,169)
Accrued expenses	(46,243)	41,165
Non-current liabilities	(21,848)	(9,825)
Net cash provided by operating activities	322,677	350,471
Cash flows from investing activities:
Proceeds from sale of equipment	20,208	33,994
Purchases of property and equipment	(105,667)	(157,664)
Cash provided by (used in) acquisitions	108	(102,661)
Net cash used in investing activities	(85,351)	(226,331)
Cash flows from financing activities:
Purchase of treasury stock	(117,352)	(75,000)
Repayments of long-term debt	(80,965)	(81,905)
Stock withheld for payments of withholding taxes	(8,003)	(5,778)
Finance lease payments	(2,097)	(1,582)
Proceeds from issuance of debt	85,107	127,017
Purchase of treasury stock from related party	0	(34,767)
Net cash used in financing activities	(123,310)	(72,015)
Effect of exchange rate changes on cash and cash equivalents	28	12
Net increase in cash and cash equivalents	114,044	52,137
Cash and cash equivalents beginning of the period	286,642	159,784
Cash and cash equivalents end of the period	400,686	211,921
Supplemental disclosures of cash paid for:
Interest	9,547	5,840
Income taxes	$ 23,260	$ 96,165

Segment Reporting

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Segment Reporting

NOTE 3. Segment Reporting

As we have continued to expand our service offerings and diversify our business, we have also made changes to the financial information that our CEO, who has been identified as our Chief Operating Decision Maker (CODM), uses to make operating and capital decisions. Beginning with the first quarter of 2023, we concluded that we had two reportable segments: Intermodal and Transportation Solutions (“ITS”) and Logistics which are based primarily on the services each segment provides. Results for the three and nine months ended September 30, 2023 have been recast below to conform with the current period presentation. Our ITS segment includes our asset-light business lines: intermodal and dedicated trucking. Our Logistics segment includes our non-asset business lines: managed transportation, truck brokerage, final mile, consolidation, warehousing and fulfillment.

Intermodal and Transportation Solutions. Our Intermodal and Transportation Solutions segment offers high service, nationwide door-to-door intermodal transportation, providing value, visibility and reliability in both transcontinental and local lanes by combining rail transportation with local trucking. This segment includes our trucking operations which provides our customers with local pickup and delivery (referred to as “drayage”) as well as high service local and regional trucking transportation using equipment dedicated to their needs. We arrange for the movement of our customers’ freight in one of our approximately 50,000 containers. We contract with railroads to provide transportation for the long-haul portion of the shipment between rail terminals. Drayage between origin or destination and rail terminals are provided by our own trucking operations and third parties with whom we contract. Our dedicated service operation offers fleets of equipment and drivers to each customer on a contract basis, as well as the management and infrastructure to operate according to the customer’s high service expectations. As of September 30, 2023, our trucking transportation operation consisted of approximately 2,300 tractors, 3,100 employee drivers and 4,400 trailers. We also contract for services with approximately 480 independent owner-operators.

Logistics. Our Logistics segment offers a wide range of services including transportation management, freight brokerage services, shipment optimization, load consolidation, mode selection, carrier management, load planning and execution, warehousing, fulfillment, cross-docking, consolidation services and final mile delivery. These services include a full range of trucking transportation services, including dry van, expedited, less-than-truckload, refrigerated and flatbed, all of which is provided by third party carriers with whom we contract. We also leverage proprietary technology along with collaborative relationships with third party service providers to deliver cost savings and performance-enhancing supply chain services to our clients. Our transportation management offering also serves as a source of volume for our ITS segment.

Separate balance sheets are not prepared by segment, and as a result, assets are not separately identifiable or presented by segment. Our CEO uses consolidated asset information to make capital decisions.

The following tables summarize our financial and operating data by segment (in thousands):


	Three Months Ended						Nine Months Ended
Operating Revenue	September 30,						September 30,
	2023			2022			2023			2022
Intermodal and Transportation Solutions	$	595,308		$	856,001		$	1,919,189		$	2,507,722
Logistics		460,309			525,178			1,382,999			1,614,775
Inter-segment eliminations		(30,782	)		(25,772	)		(84,626	)		(67,510	)
Total operating revenue	$	1,024,835		$	1,355,407		$	3,217,562		$	4,054,987



	Three Months Ended						Nine Months Ended
Operating Income	September 30,						September 30,
	2023			2022			2023			2022
Intermodal and Transportation Solutions	$	13,484		$	86,772		$	94,639		$	273,069
Logistics		29,071			30,966			88,190			97,365
Total operating income	$	42,555		$	117,738		$	182,829		$	370,434




	Three Months Ended						Nine Months Ended
Depreciation and Amortization	September 30,						September 30,
	2023			2022			2023			2022
Intermodal and Transportation Solutions	$	27,493		$	26,020		$	81,751		$	75,778
Logistics		8,572			7,522			25,148			21,297
Total depreciation and amortization	$	36,065		$	33,542		$	106,899		$	97,075

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Long-Term Debt and Financing Arrangements

9 Months Ended

Sep. 30, 2023

Debt Disclosure [Abstract]

Long-Term Debt and Financing Arrangements

NOTE 5. Long-Term Debt and Financing Arrangements

In February 2022, 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) the secured overnight financing rate (published by the Federal Reserve Bank of New York, “SOFR”), plus a specified margin based on the term of such borrowing, 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% and one-month SOFR) plus a specified margin based upon the Total Net Leverage Ratio. The specified margin for SOFR loans varies from 100.0 to 175.0 basis points per annum. The specified margin for base rate loans varies from 0.0 to 75.0 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 175.0 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 2023 and 2024. As of September 30, 2023, and December 31, 2022, our letters of credit totaled $0.9 million and $43.4 million, respectively.

As of September 30, 2023 and December 31, 2022, we had no borrowings under the Credit Agreement and our unused and available borrowings were $349.1 million and $306.6 million, respectively. We were in compliance with our debt covenants as of September 30, 2023 and December 31, 2022.

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

Our outstanding Notes are as follows (in thousands):


	September 30,			December 31,
	2023			2022

Interim funding for equipment received and expected to be converted to an equipment note in subsequent year; interest paid at a variable rate	$	34,322		$	6,137

Secured Equipment Notes due on various dates in 2028 commencing on various dates in 2023; interest is paid monthly at a fixed annual rate between 5.21% and 6.30%		48,836			-

Secured Equipment Notes due on various dates in 2027 commencing on various dates in 2022 and 2023; interest is paid monthly at a fixed annual rate between 2.07% and 5.82%		155,746			177,295

Secured Equipment Notes due on various dates in 2026 commencing on various dates in 2021; interest is paid monthly at a fixed annual rate between 1.48% and 2.41%		63,109			78,359

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%		32,675			43,955

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%		10,729			20,751

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 2.70% and 4.10%		1,190			15,968

		346,607			342,465

Less current portion		(102,773	)		(101,741	)
Total long-term debt	$	243,834		$	240,724

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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+ Details

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
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	$ 10,306
Treasury Stock, Shares	10,123,614	8,665,564
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	41,312,185	41,312,185
Common stock, shares outstanding	31,188,571	32,646,621
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	574,903	574,903
Common stock, shares outstanding	574,903	574,903

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 30,459	$ 87,325	$ 138,743	$ 277,674

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2023

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):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022

Net income	$	30,459	$	87,325	$	138,743	$	277,674

Weighted average shares outstanding - basic		31,139		33,145		31,908		33,480

Dilutive effect of restricted stock		354		376		300		327

Weighted average shares outstanding - diluted		31,493		33,521		32,208		33,807

Earnings per share - basic	$	0.98	$	2.63	$	4.35	$	8.29

Earnings per share - diluted	$	0.97	$	2.61	$	4.31	$	8.21

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2023	Oct. 31, 2023	Oct. 27, 2023
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Trading Symbol	HUBG
Entity Registrant Name	HUB GROUP, INC.
Entity Central Index Key	0000940942
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Title of 12(b) Security	Class A Common Stock, par value $.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	2001 Hub Group Way
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 Transition Report	false
Document Quarterly Report	true
Class A Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding			31,191,969
Class B Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		574,903

Long-Term Debt and Financing Arrangements - Additional Information (Detail) - USD ($) $ in Millions		9 Months Ended	12 Months Ended
	Feb. 28, 2022	Sep. 30, 2023	Dec. 31, 2022
Base Rate [Member] \| Minimum [Member]
Line Of Credit Facility [Line Items]
Commitment fee on unused commitments	0.10%
Base Rate [Member] \| Maximum [Member]
Line Of Credit Facility [Line Items]
Commitment fee on unused commitments	0.25%
Letter of Credit [Member] \| Minimum [Member]
Line Of Credit Facility [Line Items]
Commitment fee on unused commitments	1.00%
Letter of Credit [Member] \| Maximum [Member]
Line Of Credit Facility [Line Items]
Commitment fee on unused commitments	1.75%
Standby Letters of Credit [Member]
Line Of Credit Facility [Line Items]
Letters of credit expiration, year		2023	2024
Outstanding letters of credit		$ 0.9	$ 43.4
Credit Agreement [Member]
Line Of Credit Facility [Line Items]
Amount of credit agreement	$ 350.0
Term of credit agreement	5 years
Credit agreement interest rate description		(i) the secured overnight financing rate (published by the Federal Reserve Bank of New York, “SOFR”), plus a specified margin based on the term of such borrowing, 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% and one-month SOFR) plus a specified margin based upon the Total Net Leverage Ratio.
Borrowings under bank revolving line of credit		$ 0.0	0.0
Unused and available borrowings under bank revolving line of credit and credit agreement		$ 349.1	$ 306.6
Credit Agreement [Member] \| Federal Funds Rate [Member]
Line Of Credit Facility [Line Items]
Interest rate under the credit agreement	0.50%
Credit Agreement [Member] \| Base Rate [Member] \| Minimum [Member]
Line Of Credit Facility [Line Items]
Interest rate under the credit agreement	0.00%
Credit Agreement [Member] \| Base Rate [Member] \| Maximum [Member]
Line Of Credit Facility [Line Items]
Interest rate under the credit agreement	0.75%
Credit Agreement [Member] \| Secured Overnight Financing Rate [Member]
Line Of Credit Facility [Line Items]
Interest rate under the credit agreement	1.00%
Description of variable rate basis	one-month SOFR
Credit Agreement [Member] \| Secured Overnight Financing Rate [Member] \| Minimum [Member]
Line Of Credit Facility [Line Items]
Interest rate under the credit agreement	1.00%
Credit Agreement [Member] \| Secured Overnight Financing Rate [Member] \| Maximum [Member]
Line Of Credit Facility [Line Items]
Interest rate under the credit agreement	1.75%

Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Summarize our financial and operating data by segment

The following tables summarize our financial and operating data by segment (in thousands):


	Three Months Ended						Nine Months Ended
Operating Revenue	September 30,						September 30,
	2023			2022			2023			2022
Intermodal and Transportation Solutions	$	595,308		$	856,001		$	1,919,189		$	2,507,722
Logistics		460,309			525,178			1,382,999			1,614,775
Inter-segment eliminations		(30,782	)		(25,772	)		(84,626	)		(67,510	)
Total operating revenue	$	1,024,835		$	1,355,407		$	3,217,562		$	4,054,987



	Three Months Ended						Nine Months Ended
Operating Income	September 30,						September 30,
	2023			2022			2023			2022
Intermodal and Transportation Solutions	$	13,484		$	86,772		$	94,639		$	273,069
Logistics		29,071			30,966			88,190			97,365
Total operating income	$	42,555		$	117,738		$	182,829		$	370,434




	Three Months Ended						Nine Months Ended
Depreciation and Amortization	September 30,						September 30,
	2023			2022			2023			2022
Intermodal and Transportation Solutions	$	27,493		$	26,020		$	81,751		$	75,778
Logistics		8,572			7,522			25,148			21,297
Total depreciation and amortization	$	36,065		$	33,542		$	106,899		$	97,075

Earnings Per Share - Reconciliation of Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings Per Share [Abstract]
Net income	$ 30,459	$ 87,325	$ 138,743	$ 277,674
Weighted average shares outstanding - basic	31,139	33,145	31,908	33,480
Dilutive effect of restricted stock	354	376	300	327
Weighted average shares outstanding - diluted	31,493	33,521	32,208	33,807
Earnings per share - basic	$ 0.98	$ 2.63	$ 4.35	$ 8.29
Earnings per share - diluted	$ 0.97	$ 2.61	$ 4.31	$ 8.21

- 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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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-7

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 15: http://www.xbrl.org/2003/role/exampleRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 52
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-52

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-7

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Schedule of Outstanding Debt (Parenthetical) (Detail)	9 Months Ended
Schedule of Outstanding Debt (Parenthetical) (Detail)	Sep. 30, 2023
Secured Equipment Notes due in 2028 [Member]
Debt Instrument [Line Items]
Equipment notes due period	2028
Payment Frequency	monthly
Secured Equipment Notes due in 2028 [Member] \| Commencing on 2023 [Member]
Debt Instrument [Line Items]
Equipment notes, date of first required payment	2023
Secured Equipment Notes due in 2027 [Member]
Debt Instrument [Line Items]
Equipment notes due period	2027
Payment Frequency	monthly
Secured Equipment Notes due in 2027 [Member] \| Commencing on 2023 [Member]
Debt Instrument [Line Items]
Equipment notes, date of first required payment	2023
Secured Equipment Notes due in 2027 [Member] \| Commencing on 2022 [Member]
Debt Instrument [Line Items]
Equipment notes, date of first required payment	2022
Secured Equipment Notes due in 2026 [Member]
Debt Instrument [Line Items]
Equipment notes due period	2026
Payment Frequency	monthly
Secured Equipment Notes due in 2026 [Member] \| Commencing on 2021 [Member]
Debt Instrument [Line Items]
Equipment notes, date of first required payment	2021
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 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
Minimum [Member] \| Secured Equipment Notes due in 2028 [Member]
Debt Instrument [Line Items]
Interest rate secured debt	5.21%
Minimum [Member] \| Secured Equipment Notes due in 2027 [Member]
Debt Instrument [Line Items]
Interest rate secured debt	2.07%
Minimum [Member] \| Secured Equipment Notes due in 2026 [Member]
Debt Instrument [Line Items]
Interest rate secured debt	1.48%
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 2023 [Member]
Debt Instrument [Line Items]
Interest rate secured debt	2.70%
Maximum [Member] \| Secured Equipment Notes due in 2028 [Member]
Debt Instrument [Line Items]
Interest rate secured debt	6.30%
Maximum [Member] \| Secured Equipment Notes due in 2027 [Member]
Debt Instrument [Line Items]
Interest rate secured debt	5.82%
Maximum [Member] \| Secured Equipment Notes due in 2026 [Member]
Debt Instrument [Line Items]
Interest rate secured debt	2.41%
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 2023 [Member]
Debt Instrument [Line Items]
Interest rate secured debt	4.10%

Subsequent Event - Additional information (Details) $ in Millions	Oct. 31, 2023 USD ($)
Common Class A [Member] \| Subsequent Event [Member]
Subsequent Event [Line Items]
Stock repurchase program, authorized amount	$ 250

Subsequent Event

9 Months Ended

Sep. 30, 2023

Subsequent Events [Abstract]

Subsequent Event

NOTE 7. Subsequent Event

In October 2023, our Board of Directors (the "Board") authorized the purchase of up to $250 million of our Class A Common Stock pursuant to a share repurchase program that replaces prior share repurchase programs. 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. The approved share repurchase program does not obligate us to repurchase any dollar amount or number of shares, and the program may be modified, suspended, or discontinued at any time.

Insider Trading Arrangements	9 Months Ended
Insider Trading Arrangements	Sep. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
CURRENT ASSETS:
Cash and cash equivalents	$ 400,686	$ 286,642
Accounts receivable trade, net	630,794	716,190
Other receivables	5,590	3,967
Prepaid taxes	19,095	16,987
Prepaid expenses and other current assets	26,649	32,914
TOTAL CURRENT ASSETS	1,082,814	1,056,700
Restricted investments	19,809	18,065
Property and equipment, net	789,842	783,683
Right-of-use assets - operating leases	193,698	102,114
Right-of-use assets - financing leases	3,142	1,194
Other intangibles, net	177,032	197,386
Goodwill	629,772	629,402
Other assets	22,023	21,537
TOTAL ASSETS	2,918,132	2,810,081
CURRENT LIABILITIES:
Accounts payable trade	345,451	344,751
Accounts payable other	15,368	15,563
Accrued payroll	26,088	66,669
Accrued other	124,860	132,324
Lease liability - operating leases	39,688	29,547
Lease liability - financing leases	2,060	1,175
Current portion of long-term debt	102,773	101,741
TOTAL CURRENT LIABILITIES	656,288	691,770
Long-term debt	243,834	240,724
Non-current liabilities	48,496	43,505
Lease liability - operating leases	165,229	78,557
Lease liability - financing leases	997	0
Deferred taxes	174,220	155,923
STOCKHOLDERS' EQUITY:
Preferred stock: $.01 par value; 2,000,000 shares authorized; no shares issued or outstanding in 2023 and 2022	0	0
Additional paid-in capital	220,247	208,165
Purchase price in excess of predecessor basis, net of tax benefit of $10,306	(15,458)	(15,458)
Retained earnings	1,920,325	1,781,582
Accumulated other comprehensive loss	(167)	(214)
Treasury stock; at cost, 10,123,614 shares in 2023 and 8,665,564 shares in 2022.	(496,298)	(374,892)
TOTAL STOCKHOLDERS' EQUITY	1,629,068	1,599,602
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	2,918,132	2,810,081
Class A Common Stock [Member]
STOCKHOLDERS' EQUITY:
Common stock	413	413
Class B Common Stock [Member]
STOCKHOLDERS' EQUITY:
Common stock	$ 6	$ 6

Segment Reporting - Summarize our Financial and Operating Data by Segment (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Operating revenue	$ 1,024,835	$ 1,355,407	$ 3,217,562	$ 4,054,987
Operating income	42,555	117,738	182,829	370,434
Depreciation and amortization	36,065	33,542	106,899	97,075
Intermodal [Member]
Segment Reporting Information [Line Items]
Operating revenue	595,308	856,001	1,919,189	2,507,722
Operating income	13,484	86,772	94,639	273,069
Depreciation and amortization	27,493	26,020	81,751	75,778
Logistics [Member]
Segment Reporting Information [Line Items]
Operating revenue	460,309	525,178	1,382,999	1,614,775
Operating income	29,071	30,966	88,190	97,365
Depreciation and amortization	8,572	7,522	25,148	21,297
Inter-segment [Member]
Segment Reporting Information [Line Items]
Operating revenue	$ (30,782)	$ (25,772)	$ (84,626)	$ (67,510)

- 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
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

UNAUDITED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Class A and B Common Stock [Member]	Additional Paid-in Capital [Member]	Purchase Price in Excess Of Predecessor Basis, Net Of Tax [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income [Member]	Treasury Stock [Member]
Beginning Balance at Dec. 31, 2021	$ 1,340,314	$ 419	$ 189,256	$ (15,458)	$ 1,424,634	$ (207)	$ (258,330)
Beginning Balance (in shares) at Dec. 31, 2021		41,887,088					(7,317,058)
Stock withheld for payments of withholding taxes	(5,778)						$ (5,778)
Stock withheld for payments of withholding taxes (in shares)							(69,132)
Purchase of treasury stock	(75,000)						$ (75,000)
Purchase of treasury stock (in shares)							(945,497)
Purchase of treasury stock from related party	(34,767)						$ (34,767)
Purchase of treasury stock from related party (in shares)							(430,121)
Issuance of restricted stock awards, net of forfeitures			(1,572)				$ 1,572
Issuance of restricted stock awards, net of forfeitures (in shares)							126,182
Share-based compensation expense	14,973		14,973
Net Income (Loss)	277,674				277,674
Foreign currency translation adjustment	(31)					(31)
Ending Balance at Sep. 30, 2022	1,517,385	$ 419	202,657	(15,458)	1,702,308	(238)	$ (372,303)
Ending Balance (in shares) at Sep. 30, 2022		41,887,088					(8,635,626)
Beginning Balance at Jun. 30, 2022	1,535,189	$ 419	195,603	(15,458)	1,614,983	(203)	$ (260,155)
Beginning Balance (in shares) at Jun. 30, 2022		41,887,088					(7,244,215)
Stock withheld for payments of withholding taxes	(63)						$ (63)
Stock withheld for payments of withholding taxes (in shares)							(892)
Purchase of treasury stock	(75,000)						$ (75,000)
Purchase of treasury stock (in shares)							(945,497)
Purchase of treasury stock from related party	(34,767)						$ (34,767)
Purchase of treasury stock from related party (in shares)							430,121
Issuance of restricted stock awards, net of forfeitures			2,318				$ (2,318)
Issuance of restricted stock awards, net of forfeitures (in shares)							(14,901)
Share-based compensation expense	4,736		4,736
Net Income (Loss)	87,325				87,325
Foreign currency translation adjustment	(35)					(35)
Ending Balance at Sep. 30, 2022	1,517,385	$ 419	202,657	(15,458)	1,702,308	(238)	$ (372,303)
Ending Balance (in shares) at Sep. 30, 2022		41,887,088					(8,635,626)
Beginning Balance at Dec. 31, 2022	1,599,602	$ 419	208,165	(15,458)	1,781,582	(214)	$ (374,892)
Beginning Balance (in shares) at Dec. 31, 2022		41,887,088					(8,665,564)
Stock withheld for payments of withholding taxes	(8,003)						$ (8,003)
Stock withheld for payments of withholding taxes (in shares)							(100,533)
Purchase of treasury stock	(117,352)						$ (117,352)
Purchase of treasury stock (in shares)							(1,531,755)
Purchase of treasury stock from related party	0
Issuance of restricted stock awards, net of forfeitures			(3,949)				$ 3,949
Issuance of restricted stock awards, net of forfeitures (in shares)							174,238
Share-based compensation expense	16,031		16,031
Net Income (Loss)	138,743				138,743
Foreign currency translation adjustment	47					47
Ending Balance at Sep. 30, 2023	1,629,068	$ 419	220,247	(15,458)	1,920,325	(167)	$ (496,298)
Ending Balance (in shares) at Sep. 30, 2023		41,887,088					(10,123,614)
Beginning Balance at Jun. 30, 2023	1,610,736	$ 419	214,356	(15,458)	1,889,867	(136)	$ (478,312)
Beginning Balance (in shares) at Jun. 30, 2023		41,887,088					(9,910,177)
Stock withheld for payments of withholding taxes	(185)						$ (185)
Stock withheld for payments of withholding taxes (in shares)							(2,324)
Purchase of treasury stock	(17,326)						$ (17,326)
Purchase of treasury stock (in shares)							(208,330)
Issuance of restricted stock awards, net of forfeitures			475				$ (475)
Issuance of restricted stock awards, net of forfeitures (in shares)							(2,783)
Share-based compensation expense	5,416		5,416
Net Income (Loss)	30,459				30,459
Foreign currency translation adjustment	(31)					(31)
Ending Balance at Sep. 30, 2023	$ 1,629,068	$ 419	$ 220,247	$ (15,458)	$ 1,920,325	$ (167)	$ (496,298)
Ending Balance (in shares) at Sep. 30, 2023		41,887,088					(10,123,614)

Segment Reporting - Additional Information (Detail)	9 Months Ended
Segment Reporting - Additional Information (Detail)	Sep. 30, 2023 Segment Operators Containers Tractors Drivers Trailers
Segment Reporting Information [Line Items]
Number of Reportable Segments \| Segment	2
Number of tractor \| Tractors	2,300
Number of drivers \| Drivers	3,100
Number of trailer \| Trailers	4,400
Number of independent owners \| Operators	480
Number of containers \| Containers	50,000

Fair Value Measurement - Additional Information (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Fair Value Measurement [Line Items]
Carrying value of debt	$ 346,607	$ 342,465
Restricted investments	19,800	18,100
Fixed-rate Borrowings [Member]
Fair Value Measurement [Line Items]
Increase (decrease) in fair value of debt	8,900	11,700
Carrying value of debt	$ 346,600	$ 342,500

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Long-Term Debt and Financing Arrangements (Tables)

9 Months Ended

Sep. 30, 2023

Debt Disclosure [Abstract]

Schedule of Outstanding Debt

Our outstanding Notes are as follows (in thousands):


	September 30,			December 31,
	2023			2022

Interim funding for equipment received and expected to be converted to an equipment note in subsequent year; interest paid at a variable rate	$	34,322		$	6,137

Secured Equipment Notes due on various dates in 2028 commencing on various dates in 2023; interest is paid monthly at a fixed annual rate between 5.21% and 6.30%		48,836			-

Secured Equipment Notes due on various dates in 2027 commencing on various dates in 2022 and 2023; interest is paid monthly at a fixed annual rate between 2.07% and 5.82%		155,746			177,295

Secured Equipment Notes due on various dates in 2026 commencing on various dates in 2021; interest is paid monthly at a fixed annual rate between 1.48% and 2.41%		63,109			78,359

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%		32,675			43,955

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%		10,729			20,751

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 2.70% and 4.10%		1,190			15,968

		346,607			342,465

Less current portion		(102,773	)		(101,741	)
Total long-term debt	$	243,834		$	240,724

Schedule of Outstanding Debt (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
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	$ 34,322	$ 6,137
Secured long-term debt	346,607	342,465
Less current portion	(102,773)	(101,741)
Total long-term debt	243,834	240,724
Secured Equipment Notes due in 2028 [Member]
Debt Instrument [Line Items]
Secured long-term debt	48,836	0
Secured Equipment Notes due in 2027 [Member]
Debt Instrument [Line Items]
Secured long-term debt	155,746	177,295
Secured Equipment Notes due in 2026 [Member]
Debt Instrument [Line Items]
Secured long-term debt	63,109	78,359
Secured Equipment Notes due in 2025 [Member]
Debt Instrument [Line Items]
Secured long-term debt	32,675	43,955
Secured Equipment Notes due in 2024 [Member]
Debt Instrument [Line Items]
Secured long-term debt	10,729	20,751
Secured Equipment Notes due in 2023 [Member]
Debt Instrument [Line Items]
Secured long-term debt	$ 1,190	$ 15,968

UNAUDITED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Operating revenue	$ 1,024,835	$ 1,355,407	$ 3,217,562	$ 4,054,987
Costs and expenses:
Purchased transportation and warehousing	772,650	1,023,052	2,403,190	3,081,299
Salaries and benefits	138,503	137,666	417,757	395,904
Depreciation and amortization	36,065	33,542	106,899	97,075
Insurance and claims	11,681	17,615	36,041	37,553
General and administrative	24,146	34,382	76,445	93,819
Gain on sale of assets, net	(765)	(8,588)	(5,599)	(21,097)
Total operating expenses	982,280	1,237,669	3,034,733	3,684,553
Operating income	42,555	117,738	182,829	370,434
Other income (expense):
Interest expense	(3,537)	(2,190)	(9,623)	(5,301)
Interest income	2,838	40	6,302	50
Other, net	(188)	(384)	(81)	(446)
Total other expense, net	(887)	(2,534)	(3,402)	(5,697)
Income before provision for income taxes	41,668	115,204	179,427	364,737
Provision for income taxes	11,209	27,879	40,684	87,063
Net income	30,459	87,325	138,743	277,674
Other comprehensive (loss) income:
Foreign currency translation adjustments	(31)	(35)	47	(31)
Total comprehensive income	$ 30,428	$ 87,290	$ 138,790	$ 277,643
Basic earnings per common share	$ 0.98	$ 2.63	$ 4.35	$ 8.29
Diluted earnings per common share	$ 0.97	$ 2.61	$ 4.31	$ 8.21
Basic weighted average number of shares outstanding	31,139	33,145	31,908	33,480
Diluted weighted average number of shares outstanding	31,493	33,521	32,208	33,807

Legal Matters

9 Months Ended

Sep. 30, 2023

Commitments and Contingencies Disclosure [Abstract]

Legal Matters

NOTE 6. Legal Matters

The Company is involved in certain claims and pending litigation arising from the normal conduct of business, including putative class-action lawsuits involving employment related claims. Based on management's present knowledge, management does not believe that any potential unrecorded 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 for settlements or losses determined to be probable and estimable. However, actual outcomes could be material to the Company's financial position, operating results, or cash flows for any particular period.