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The Company operates in five defined business segments: 1) LTL operations, which includes ABF and G.I. Trucking; 2) Intermodal operations, including the Clipper Group and CaroTrans; 3) Truckload operations, which includes Cardinal; 4) Logistics, which includes the Companys three logistics subsidiaries, and 5) Tire operations, which includes the operation of Treadco. The segment information for 1994 has been restated to reflect the Companys current reported business segments. Intersegment sales are not significant. Operating profit is total revenue less operating expenses, excluding interest. Identifiable assets by business segment include both assets directly identified with those operations and an allocable share of jointly used assets. General corporate assets consist primarily of cash and other investments. The following information reflects selected business segment data (information relative to revenues is reflected in the consolidated statements of operations):
Year Ended December 31
1996 1995 1994
($ thousands)
OPERATING PROFIT (LOSS)
Less than truckload motor
carrier operations $ (18,160) $ (32,915) $ 35,622
Truckload motor carrier operations 4,371 3,031 -
Intermodal operations (546) 2,821 695
Logistics operations (2,782) (2,611) (968)
Tire operations (4,821) 4,424 11,079
Other 4,699) (3,393) 719
TOTAL OPERATING PROFIT (LOSS) (26,637) (28,644) 47,147
Interest expense 31,869 17,046 6,985
Minority interest (1,768) 1,297 3,523
INCOME (LOSS) BEFORE INCOME TAXES $ (56,738) $ (46,987) $ 36,639
IDENTIFIABLE ASSETS
Less than truckload motor
carrier operations $ 520,644 $ 675,412 $ 374,128
Truckload motor carrier operations 37,566 31,365 -
Intermodal operations 74,549 75,754 73,816
Logistics operations 23,166 25,062 7,120
Tire operations 108,058 94,658 89,231
Other 34,449 36,014 5,487
798,432 938,265 549,782
General corporate assets 44,768 47,572 19,263
TOTAL ASSETS $ 843,200 $ 985,837 $ 569,045
DEPRECIATION AND AMORTIZATION EXPENSE
Less than truckload motor
carrier operations $ 44,640 $ 40,045 $ 26,630
Truckload motor carrier 3,574 1,249 -
Intermodal operations 3,079 2,779 609
Logistics operations 3,847 2,598 501
Tire operations 5,315 4,082 3,444
Other 4,283 2,053 931
$ 64,738 $ 52,806 $ 32,115
CAPITAL EXPENDITURES
Less than truckload motor
carrier operations $ 14,105 $ 61,250 $ 58,110
Truckload motor carrier operations 838 2,127 -
Intermodal operations 374 426 19
Logistics operations 3,080 5,532 116
Tire operations 23,082 5,429 5,684
Other 120 44 169
$ 41,599 $ 74,808 $ 64,098
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