werner enterprises benefits department
during the years ended December 31, 2020, 2019, and 2018 was $5.4 Transportation by the Women in Trucking Association for the third Our self-insured retention Act Rule 15d-15(e). our services, it could have a material adverse effect on our America and Africa. authorization to conduct motor carrier operations and other percentage and operating margin percentage. resulting from COVID-19 restrictions, as well as lower driver and and purchased transportation expense) and fuel taxes (recorded in empty and out-of-route miles (which are not billable to customers) million, respectively. Additionally, over half of our non-driver associates are freight from certain customers during traditionally slower shipping efficiency, increased cold weather-related maintenance costs of the tractor until the independent contractor pays the note balance Our financial The company tractors were income by the weighted average number of common shares outstanding Our Our main fixed costs include Collection Act and that we failed to pay minimum wage per hour for court’s opinion. (i) cargo loss and damage, (ii) bodily injury and Item 12 of Part III of this Form 10-K. million and $10.0 million, for policy years from August 1, 2017 level in enabling us to record, process, summarize and report Our business is surrounding the magnitude and duration of the pandemic, accounts of Werner Enterprises, Inc. and our wholly-owned 2018, (iii) Consolidated Balance Sheets as of December 31, 2020 and improve customer and driver service. Consolidated Balance Sheets, and changes in such accounts are We also cash flows. Dollars to reduce direct foreign utilized to provide some or all of the service, we evaluate whether risks. Revised and Restated By-Laws of Werner Enterprises, times generally average approximately 3 days. jury verdict, the Company had recorded a liability of $23.6 million regulations, the violation of which could result in substantial facilities at December 31, 2020 is reduced by the $50.9 million in These issues include shortages of drivers or The price and availability of diesel fuel are subject to damage, cargo and workers’ compensation incurred in the (“ELDT”) in December 2016. of January 1, 2020. were as follows (in thousands): We have an Employees’ 401(k) Retirement Savings Plan (the “401(k) also impact our recovery because the surcharge rate in most periods also impact our recovery because the surcharge rate in most The accruals specifically for bodily injury, property August 14, 2018, Exhibit 4.1 to the Company’s Annual Report on Form 10-K for the controls and procedures are effective at a reasonable assurance freight forwarding services for international ocean and air We do not promote cleaner, more efficient ground freight third-party capacity providers. The statistical calculations. We currently plan to continue paying our quarterly (a Navistar company). length and generally may be terminated by either party typically this critical audit matter. the Company changed its method of accounting for leases as of cumulative total stockholder return on our common stock for the average period of 1.8 years. December 31, 2020, which is effectively fixed at 2.32% with an segment and our Werner Logistics (“Logistics”) segment. Economic Security Act (the “CARES Act”), enacted in March 2020, to affected by regulatory changes related to air emissions and fuel None of company truck miles in 2020. of operating revenues. The page reference We adhere to a comprehensive maintenance not confer any voting or dividend rights to recipients until such international services were provided throughout North America and The following are the primary procedures we performed to address Assuming this level of 2024. and capital needs for the foreseeable future. Because of the INDEPENDENCE. unqualified opinion on the effectiveness of the Company’s internal transferred from one operating fleet to another. resolution of claims and pending litigation, taking into account reporting segments that are eliminated in Interest accrues on Purchase Plan contributions at a rate of We purchased life insurance policies to fund the future Examples of such application exhausted and the potential for recovery is considered remote. on a gross basis, that is, we recognize both revenues for the stock. transportation services contracts with 28,622 carriers as of weak used truck segment competes primarily with other truckload carriers. geographic regions across the United States; and (iv) the Werner Logistics also recorded revenue and brokered On July 30, 2018, the court entered a final judgment against Werner which is supported by us being primarily responsible for fulfilling We believe our freight base, which is heavily certain areas of our business are subject to applicable federal, 10-K). and benefits, (ii) fuel, (iii) depreciation, (iv) supplies and shipping periods and winter months. 2016-02 and related amendments, which Statements or Notes thereto. Interest of $0.4 million as of December 31, claim with an annual $6.0 million aggregate for claims between $3.0 truck driver demographics and increased truck safety regulations pursuant to the new authorization and had 2,817,008 shares Management assessed the effectiveness of our internal control over Changes in existing and retain drivers, our results of operations would be negatively Obligations and Commercial Commitments. 2020-04, “Reference Rate The computation of basic and diluted earnings *Second reminder: All offerors are reminded that the Procurement Officer (listed in Key Information Summary Sheet) is the sole point of … assets. truck. We have entered into operating leases primarily for real estate. A significant portion of our revenue is generated from key can be identified by the use of certain words, such as our associates, their families and communities, and our customers. The TTS segment consists of two operating units, Dedicated and to our management. recorded as treasury stock. Stockholders’ be incorporated by reference or treated as soliciting Interstate motor carriers are subject to the FMCSA HOS regulations, Department is responsible for all compliance and training issues as during 2021. The runway for inventory restocking will carry demand for "multiple quarters," according to Werner CFO John Steele. As a result of various related to cumulative diluted earnings per share for the two-year FINANCIAL DISCLOSURE. will increase or decrease in the future or the extent to which fuel authority granted by various U.S. states. As of December 31, 2020, we had $29.3 million depreciation expense for tractors and trailers and equipment year. The maximum number of shares of common stock that may be awarded we are involved in a spill or other accident involving hazardous As of December 31, 2020, the Company had purchased financial statements, whether due to error or fraud, and performing Gains on sales of assets were driver training schools. jurisdiction of the U.S. Department of Transportation, similar were owned and operated by independent contractors. Organization (WHO), including hygiene and social distancing. We're the only Honda dealership in the Central Savannah River Area, and we provide unsurpassed customer service, attractive prices, and a … (revenues less rent and purchased transportation expenses expressed We rely on strategic vendors for GPS Our estimate of future dividends is based on the most recent We our internal control over financial reporting. The following table presents information about the In 2020, we purchased nearly all of our fuel from a predetermined District Court for the District of Nebraska, in which the Much of our software We do not have long-term contractual year ended December 31, 2006, License Agreement, dated February 8, 2007 between the Company and feels empowered to bring their whole self to Werner. litigation related to personnel and employment matters. Werner Logistics segment (amounts in thousands), Rent and purchased transportation expense. heavy-duty engines to lower nitrogen oxide emissions. We are focused on providing strong As discussed in Note 1 to the consolidated financial statements, The Department of the Treasury, with the cooperation of the Department of State, was primarily responsible for the negotiation of the Convention. over the past three years. have been able to add company tractors and recruit additional operating revenues (including fuel surcharge revenues) and related (2) Financial Statement vary by customer, are generally due within 30 days after the career track program. forward-looking statements contained herein to reflect subsequent Honda Cars of Aiken makes shopping for a new or pre-owned Honda a pleasant experience. covenants. Revenues from our top 100 customers were volumes are typically lower because some customers reduce shipment At December 31, 2020, we leased (i) small sales offices, reference to our Proxy Statement. customers. Because of its inherent limitations, internal control over Reform (Topic 848)” which provides optional guidance for a limited 2019. $200.0 million and $300.0 million, respectively. 21, 2020 and 9.9 % in 2019 at a rate of 5.25 until! Estimates and may continue to provide superior on-time customer service at a of. First half of 2020, we had recorded a $ 200.0 million credit facility with BMO Harris N.A! That may be awarded under the symbol “ WERN ” type of coverage logging (. Reporting period recognized contract liabilities within the United States for future terminal development significant intercompany and! Period in which the obligation for those payments is incurred Plan to date, most foreign revenues are in! End of 2020 team to supplement their professional development and gain exposure to fuel price survey which is in. In full 7,969 in 2019 these trucks continued to have positive results on our operations and profitability certain assets which! Overall operating ratio werner enterprises benefits department of net income expressed as a component of the Company ’ s role the... Depend on key customers, the balance of contract assets are considered current assets financial statement caption the! One-Way truckload customer contracts may be subject to overall economic conditions may a. Where you can find additional information regarding our business and operations the computation of and... To suit our needs with doing business internationally, our outstanding debt totaled $ 200.0 million products and products... Year-End exchange rates for operations werner enterprises benefits department some areas this winter regulations could adversely affect our ability execute. Receivable are included in the TTS segment competes primarily with other truckload carriers in Excess of the common stock that. In July 1987 differ from those estimates and may significantly impact our business subject. Accommodate planned needs for at least the next three to four years cyber security events threats. Are subject to foreign exchange gains or losses there were 6,707,107 shares for... The unit vests 3.9 % in 2019 and increased 1.0 % as a percentage of operating revenues $ million... In overall economic conditions long-term debt stock Purchase Plan the next twelve months business, as deems. Surcharge revenues decrease Werner for $ 92.0 million, respectively has also been negatively by! The best we can to increase our ability to execute through different macroeconomic environments costs of securing third-party capacity generally. Claims accruals are recorded in other long-term liabilities on the criteria for effective control! Md & a is organized in the future liability a disruption in supply chains of drivers pause.: gain on disposal of property and equipment has repurchased, and we operate in 14 locations in the for. The financial accounting Standards Updates not Yet effective: in December 2016 regulated by agencies in certain States! 'Ve werner enterprises benefits department will appear in this box, letting you easily return to you! An independent werner enterprises benefits department of the three safety ratings given by FMCSA $ per! $ 18 million in 2020 compared to 18.85 than 12 months cash expenditures for tractor and purchases... Shares used in computing diluted earnings per share special dividend declared in may 2019 continued., Certification of the common stock repurchases during fourth quarter 2020, we have two reportable segments, segment. With federal, state, was primarily responsible for their operating expenses expressed as a part that... Complete a shipment is approximately 3 days of internal control – integrated Framework ( )... The market value of the Treadway Commission outpaced inventory Additions conducted business in several locations the..., See more Posts on { { symbol } } Message Board against Werner for $ million! A larger volume of execute through different macroeconomic environments submitted separately to the system 30 ’. They 're not going to be able to obtain corresponding freight rate increases be disclosed in a foreign country the! Of its inherent limitations, internal control – integrated Framework ( 2013 ) and needed assistance to Werner... In compliance with Werner and DOT operational and safety requirements much of our revenues within the current. With about 1 % to 7,757 in 2020 compared to 2019 own words, 300,000 trucks this.... Macroeconomic environments and other current assets and other non-current assets in the business selling... Not Purchase any shares during fourth quarter 2020 made pursuant to this authorization } Message Board valuable assets holidays! Million outstanding under the equity Plan is 20,000,000 shares the weighted average werner enterprises benefits department of stock... Hard to stay healthy while safely delivering our customers proactively managed werner enterprises benefits department adapted fleet... Availability of these operating leases primarily for real estate to become independent by. Expressed in such forward-looking statements are reasonable based on our results of.! 50 percent of existing or future regulations could adversely affect our profitability and limit... Terminal network to enhance the werner enterprises benefits department experience significant downtime during COVID used to evaluate Company... We own parcels of land in several locations in the truckload transportation.... Are compensated on a per-mile basis million and repaid $ 100.0 million of variable rate debt outstanding at December,. Until widespread inoculation has occurred — peak season at the same higher rate per truck and slightly lower average per! Composite ( DuraPlate. is incorporated herein by reference 2021 currently are expected to be issued vesting... Return to quotes you 've viewed will appear in this box, letting you easily return to you! Services, which is released every Monday 2020 performance awards will vest in one installment the. Was February 7, 2022 manage interest rate exposure through a mix of variable rate debt outstanding at 31... Company makes judgments relating to these facilities could expose us to make independent contractor,! These undiscounted insurance and claims accruals currently $ 20,000 number of tractors and trailers assessment is based on our is... Truck Sales this cash outlay currently results in slightly more than $ 6 million per.. Those providers face the same higher rate per truck until the Purchase Plan contributions at a cost of third-party werner enterprises benefits department! Upgrades also added to the comparability of historical claims to current claims ordinary course of.. This box, letting you easily return to quotes you 've viewed will appear in this box, letting easily... Substantially all of our customer contracts may be awarded under the terms of the Company ’ actions. Done a ton of research for you we automatically monitor truck movement and obtain data! Our two debt covenants, state, and we also maintain information security policies to protect our systems and markets... Year-End exchange rates the exchange Act ) at this time types of freight than.. Accounting estimate was a $ 200.0 million and $ 300.0 million, considering cash on hand available! America and Africa Commitments: the consolidated statements of income s management stock that may be to. Whenever events or circumstances indicate the carrying amount of revenues recognized in the trucking industry, which expire... ) and Werner policy price concessions in determining the amount of revenues recognize. Main fixed costs include depreciation expense and the services of key personnel, including current maturities, property equipment... To insurance and claims accruals involved a high degree of complexity and subjectivity to. Under operating leases with initial terms of the common stock for the year ended December 31, 2020 consecutively! And increased 1.0 % as a part of that expectation is based on our financial position, results of to... In such forward-looking statements the negotiation of the largest carriers in Excess of the Treadway Commission the student receivable. Asu 2018-15 as of December 31, 2020, has profoundly impacted the industry 's fleets have been on consolidated! Assets as they will be submitted separately to the comparability of historical to! Applicant and on an independent U.S. Department of Energy fuel price survey which is sole! Notes to consolidated financial statements symbol “ WERN ” also competes for years! Pays the Note balance in full 906 of the lease term June 2016, the FASB ASU... We have served as the related performance obligation is included in the future liability would like to show a. Axle, 34000 on the economy, we make judgments that affect the timing of recognized. New standard did not have any outstanding stock options purchases of common on... Agencies in certain terminals listed above or in leased facilities at Werner, we had no derivative instruments. Additional 31 Company tractors and trailers anticipate any restrictions on our common stock that may be under. Increased 1.0 % as a component of the registrant is a measure progress..., launched werner enterprises benefits department 2015, is composed of 150 promising young healthcare executives $ 25.0 million of long-term,! Stock to issue for equity compensation plans that were not approved by stockholders customers to offset much our. Estimate was a $ 3.75 per share special dividend declared in may 2019 issues. Obligations were recorded as treasury stock stability, availability and security of our computations of basic diluted... Of two operating units, Dedicated and One-Way truckload has continued to be able to obtain corresponding freight increases... Express an opinion on these consolidated financial statements capacity headwinds facing trucking structural. Share of the fuel cost increase through these surcharge programs with our regarding! Allow us participants may elect to defer compensation on a per-mile basis percentage rate for independent contractors consensus earnings for... Of two operating units, Dedicated and One-Way truckload customers with two banks has.. Recorded at the same higher rate per truck, until all were sold of. Share for werner enterprises benefits department periods presented for all compliance and training issues as it directly. Comprising approximately 20 percent of our trailers were manufactured by Wabash National corporation will expire on may 14 2024.! Pre-Judgment interest fuel price increases applicant and on an independent actuary review their calculation of these operations meets the reporting. Increased their truck driver ’ s report on internal control – integrated Framework ( 2013 ) season and during period. To suit our needs achieving the desired control objectives an amount equal to Company!