Revenue RecognitionTotal revenues recorded were $805.7 million, $1,047.5 million, and $1,207.5 million for the twelve months ended December 31, 2025, 2024, and 2023, respectively. Fuel surcharge revenues were $96.6 million, $133.9 million, and $173.8 million for the twelve months ended December 31, 2025, 2024, and 2023, respectively. As a result of the CFI acquisition we acquired outsourcing of certain loads to third-party carriers in the U.S. and Mexico. During the twelve months ended December 31, 2025 the Company only outsourced certain loads to third-party carriers in Mexico. The Company is a principal in these arrangements resulting in revenue associated with these contracts being recorded on a gross basis. The primary responsibility to meet the customer's requirements is maintained by the Company as the party performing billing, collection and pricing negotiations with the customer. The Company is also responsible for selecting third-party transportation providers that satisfy our premium customer service requirements. Accessorial, brokerage and other revenues recorded in the consolidated statements of comprehensive income collectively represented $58.1 million, $78.0 million, and $94.8 million for the twelve months ended December 31, 2025, 2024, and 2023, respectively. Included in the accessorial, brokerage and other revenues is $31.3 million and $31.8 million of logistics revenue within Mexico for the twelve months ended December 31, 2025 and 2024, respectively. We have property and equipment in Mexico in support of these operations with a net book value of $1.1 million as of December 31, 2025, which are the company's only foreign long-lived assets.
Historical Timeline
Fiscal Year
Filed
2025
Mar 3, 2026
Showing above
2024
Feb 18, 2025
2023
Feb 28, 2024
2022
Mar 1, 2023
2021
Feb 25, 2022
2020
Feb 22, 2021
2019
Feb 25, 2020
2018
Feb 21, 2019
About Revenue Disclosures
Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.
Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.