10 unchanged sentences
In addition to numerous service center renovations, expansions, and relocations of existing service centers, we opened 7, 25 and 35 new service centers over the past one, five and ten years, respectively, for a total of 251 service centers at December 31, 2021.
−Removed: We believe this expansion produced increased capacity within our service center network and provides us with opportunities for future growth.
+Added: We believe these expansions produced increased capacity within our service center network and provide us with opportunities for future growth.
We believe the growth in demand for our services can be attributed to our ability to consistently provide a superior level of customer service at a fair price, which allows our customers to meet their supply chain needs.
Our integrated structure allows us to offer our customers consistent, high-quality service from origin to destination, and we believe our operating structure and proprietary information systems enable us to efficiently manage our operating costs.
−Removed: Our services are complemented by our technological capabilities, which we believe provide the tools to improve the efficiency of our operations while also empowering our customers to manage their individual shipping needs.
+Added: Our services are complemented by our technological capabilities, which we believe improve the efficiency of our operations while also empowering our customers to manage their individual shipping needs.
We were founded in 1934 and incorporated in Virginia in 1950.
5 unchanged sentences
The LTL freight is then routed through a network of service centers where the freight may be transferred to other trucks with similar destinations.
−Removed: LTL motor carriers generally require a more expansive network of local pickup and delivery
−Removed: (“ P&D ”) service centers, as well as larger breakbulk, or hub, facilities.
+Added: LTL motor carriers generally require a more expansive network of local pickup and delivery (“P&D”) service centers, as well as larger breakbulk, or hub, facilities.
In contrast, truckload carriers generally dedicate an entire truck to one customer from origin to destination.
4 unchanged sentences
The LTL industry is highly competitive on the basis of service and price and has consolidated significantly since the industry was deregulated in 1980.
−Removed: The largest 5 and 10 LTL motor carriers accounted for approximately 56% and 80%, respectively, of the LTL market in 2019.
−Removed: We believe consolidation in our industry will continue due to increased customer demand for transportation providers offering both regional and national service as well as other complementary value-added services.
+Added: The largest 5 and 10 LTL motor carriers accounted for approximately 58% and 83%, respectively, of the domestic LTL market in 2020.
+Added: We believe consolidation in our industry will continue due to increased customer demand for transportation providers that can offer both regional and national service as well as other complementary value-added services.
The transportation and logistics industry is intensely competitive and highly fragmented.
13 unchanged sentences
At December 31, 2021, we operated 251 service center locations, of which we owned 227 and leased 24.
−Removed: Our network includes nine major breakbulk facilities located in Atlanta, Georgia;
−Removed: Columbus, Ohio;
−Removed: Indianapolis, Indiana;
−Removed: Greensboro, North Carolina;
−Removed: Harrisburg, Pennsylvania;
−Removed: Memphis and Morristown, Tennessee;
−Removed: Dallas, Texas;
−Removed: and Salt Lake City, Utah, while using various other service centers for additional limited breakbulk activity in order to serve our next-day markets.
−Removed: Our service centers are strategically located throughout the country so that we can provide the highest quality service and minimize freight rehandling costs.
Our service centers are responsible for the pickup and delivery of freight within their local service area.
2 unchanged sentences
Our management reviews the productivity and service performance of each service center on a daily basis to ensure quality service and efficient operations.
+Added: Our network includes major breakbulk facilities, as well as various other service centers that are used for additional limited breakbulk activity in order to serve our next-day markets.
+Added: Our service centers are strategically located throughout the country so that we can provide the highest quality service and minimize freight rehandling costs.
Although we have established primary responsibility for customer service at the local service center level, our customers may access information and initiate transactions through our centralized customer service department located at our corporate office or through other electronic gateways.
4 unchanged sentences
We also utilize load-planning software to optimize efficiencies in our linehaul operations.
−Removed: Our management team monitors freight
−Removed: movements, transit times, load factors and many other productivity measurements to help ensure that we maintain our high levels of service and efficiency.
+Added: Our management team monitors freight movements, transit times, load factors and many other productivity measurements to help ensure that we maintain our high levels of service and efficiency.
We utilize scheduled routes and additional linehaul dispatches as necessary to meet our published transit times.
In addition, we gain efficiency through the use of twin 28-foot trailers in our linehaul operations.
−Removed: The use of twin 28-foot trailers permits us to transport freight directly from its point of origin to destination with minimal unloading and reloading, which also reduces our exposure to potential cargo loss and damage expenses.
+Added: The use of twin 28-foot trailers permits us to transport freight directly from its point of origin to destination with minimal unloading and reloading, which also reduces our exposure
+Added: to potential cargo loss and damage expenses.
We utilize long-combination vehicles, such as triple 28-foot trailers and combinations of 48-foot and 28-foot trailers, in states where permitted.
9 unchanged sentences
These purchases are planned well in advance of anticipated delivery dates in order to accommodate manufacturers’ production schedules.
−Removed: We believe there is sufficient capacity among suppliers to help ensure an uninterrupted supply of equipment to support our operations.
+Added: We generally believe there is sufficient capacity among suppliers to help ensure an uninterrupted supply of equipment to support our operations.
+Added: Supply chain challenges have impacted our equipment manufacturers during 2021 and may continue to impact them during 2022.
+Added: We will continue to use older equipment that would have otherwise been replaced based on our normal equipment cycle to help ensure that we have adequate capacity to support anticipated growth.
+Added: We will also continue to utilize purchased transportation, as needed, in order to support the capacity of our workforce and equipment needs.
The table below sets forth our capital expenditures for tractors and trailers for the years ended December 31, 2021 and 2020.
6 unchanged sentences
Tractors are routed to appropriate maintenance facilities or authorized repair vendors at designated mileage intervals or every 90 days, whichever occurs first.
−Removed: Trailers are also scheduled for preventative maintenance every 90 days.
+Added: Trailers are also scheduled for preventive maintenance every 90 days.
Revenue is generated primarily from customers throughout the United States and North America.
6 unchanged sentences
We also compete for business by participating in bid solicitations.
−Removed: Customers generally solicit bids for relatively large
−Removed: numbers of shipments for a period of one to two years and typically choose to enter into contractual arrangements with a limited number of motor carriers based upon price and service.
+Added: Customers generally solicit bids for relatively large numbers of shipments for a period of one to two years and typically choose to enter into contractual arrangements with a limited number of motor carriers based upon price and service.
Our tonnage levels and revenue mix are subject to seasonal trends common in our industry, although other factors, such as macroeconomic changes, could cause variation in these trends.
Our revenue and operating margins in the first and fourth quarters are typically lower than those during the second and third quarters due to reduced shipments during the winter months;
−Removed: however, the effects of the COVID-19 pandemic on the domestic economy has impacted, and may continue to impact, our normal seasonal trends.
−Removed: More specifically, we experienced a decrease in LTL shipments driven by the impact of a slowdown in the domestic economy associated with the COVID-19 pandemic, primarily during the second quarter of 2020.
+Added: however, the effects of the COVID-19 pandemic on the domestic economy impacted our normal seasonal trends during 2020 and may continue to impact our seasonal trends in future periods.
Harsh winter weather, hurricanes, tornadoes, floods and other natural disasters can also adversely impact our performance by reducing demand and increasing operating expenses.
3 unchanged sentences
We also provide access to our systems through multiple secure gateways that offer our customers and employees maximum flexibility and access to information.
−Removed: We employ vehicle safety systems, on-board computer systems and smart phones, freight handling systems and logistics technology to reduce costs and transit times, as well as to meet regulatory requirements.
+Added: We employ vehicle safety systems, forward-facing cameras, on-board computer systems, smart phones, freight handling systems and logistics technology to reduce costs and transit times, as well as to meet regulatory requirements.
Our data systems are integrated at every level within our organization, which we believe is critical to our success.
5 unchanged sentences
Diesel Fuel Availability and Cost
−Removed: We depend heavily upon the availability and quality of diesel fuel to provide our transportation services.
+Added: We depend heavily upon the availability and quality of diesel fuel, including alternative fuel types, to provide our transportation services.
We maintain fuel storage and pumping facilities at certain service center locations as the primary source for fueling our fleet, and we utilize over-the-road fueling options at retail locations as necessary.
15 unchanged sentences
We believe this culture is part of what attracts employees and helps keep our turnover rates low.
−Removed: We also provide our employees with a comprehensive benefits package, including a plan that covers our eligible employees’ premium for health insurance, a flexible paid time off policy, a 401(k) plan with a guaranteed employer match as well as a discretionary match opportunity, and various wellness programs designed to assist employees with establishing and living a healthy and balanced lifestyle.
+Added: We also provide our employees with a comprehensive benefits package, including a plan that covers our eligible employees’ premium for health insurance, voluntary disability and life insurance coverages, a flexible paid time off policy, a 401(k) plan with a guaranteed employer match as well as a discretionary employer match opportunity, and various wellness programs designed to assist employees with establishing and living a healthy and balanced lifestyle.
Employee Development and Safety
7 unchanged sentences
We believe our driver training and qualification programs have been important factors in improving our safety record and retaining qualified drivers.
+Added: In fact, over 18% of our drivers have achieved one million safe driving miles or more.
In addition, we have experienced an annual turnover rate for our driver graduates of approximately 6.4%, which is below our Company-wide turnover rate for all drivers of approximately 9.0%.
3 unchanged sentences
Our safety bonuses paid to drivers totaled $4.9 million, $4.7 million and $4.6 million in 2021, 2020 and 2019, respectively.
−Removed: During 2020, the outbreak of COVID-19 was declared a pandemic by the World Health Organization.
Throughout the COVID-19 pandemic, we have remained focused on protecting the health and safety of our employees while meeting the needs of our customers.
1 unchanged sentence
Centers for Disease Control and Prevention and the World Health Organization.
−Removed: We provided personal protective equipment and also implemented increased physical distancing in workspaces and enhanced cleaning protocols.
Across our businesses, we continue to take measures to prevent workplace hazards, encourage safe behaviors and promote a culture of continuous improvement to ensure our processes help reduce incidents and illnesses and comply with governing health and safety laws.
13 unchanged sentences
Commercial Driver’s License Drug and Alcohol Clearinghouse
−Removed: We are registered as a motor carrier with the Commercial Driver’s License Drug and Alcohol Clearinghouse (“DAC”) which requires us to check for drug and alcohol violations of current drivers at least annually and prospective employees prior to hiring.
+Added: We are registered as a motor carrier with the Commercial Driver’s License Drug and Alcohol Clearinghouse, which requires us to check for drug and alcohol violations of current drivers at least annually and prospective employees prior to hiring.
We have completed our annual limited query and pre-hire driver authorization queries.
−Removed: We are subject to future rulemaking by the FMCSA and other regulatory agencies, which could be more stringent, require additional changes to our operations, increase our operating costs or otherwise adversely impact our results of operations.
Environmental Regulation
13 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.