v3.25.2
Revenue Recognition
 6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
Disaggregation of Revenues
We disaggregate our revenue by geographic area, service offering and industry sector. The majority of our revenue, based on sales office location, is generated in the U.S. Approximately 7% and 8% of our revenues were generated outside the U.S. (primarily in Canada, Mexico, Europe and Asia) for the three months ended June 30, 2025 and 2024, respectively. Approximately 7% and 8% of our revenues were generated outside the U.S. (primarily in Canada, Mexico, Europe and Asia) for the six months ended June 30, 2025 and 2024, respectively.
Our revenue disaggregated by service offering is as follows:
Three Months Ended June 30,Six Months Ended June 30,
(In millions)2025202420252024
Truck brokerage$1,025 $543 $2,092 $1,107 
Last mile315 265 593 497 
Managed transportation142 156 279 308 
Eliminations(63)(34)(112)(69)
Total$1,419 $930 $2,852 $1,843 
Our revenue disaggregated by industry sector is as follows:
Three Months Ended June 30,Six Months Ended June 30,
(In millions)2025202420252024
Retail/e-commerce$540 $366 $1,071 $713 
Industrial/manufacturing269 184 547 377 
Food and beverage220 96 453 199 
Logistics and transportation111 41 236 83 
Automotive92 103 188 204 
Other187 140 357 267 
Total$1,419 $930 $2,852 $1,843 
Performance Obligations
Remaining performance obligations represent firm contracts for which services have not been performed and future revenue recognition is expected. As permitted in determining the remaining performance obligation, we omit obligations that: (i) have original expected durations of one year or less or (ii) contain variable consideration. As of June 30, 2025, the fixed consideration component of our remaining performance obligations was approximately $22 million, and we expect approximately 98% of that amount to be recognized over the next 3 years and the remainder thereafter. We estimate remaining performance obligations at a point in time and actual amounts may differ from these estimates due to contract revisions or terminations.