v3.25.2
Business Combinations, Asset Acquisitions, and Joint Venture Formation (Tables)
 6 Months Ended
Jun. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Business Combination, Recognized Asset Acquired and Liability Assumed
The following table summarizes the preliminary allocation of consideration to Coyote’s identifiable tangible and intangible assets acquired and liabilities assumed by the Company at the acquisition date.
(In millions)
Cash and cash equivalents$19 
Accounts receivable394 
Other current assets35 
Property and equipment25 
Identifiable intangible assets459 
Operating lease assets84 
Other long-term assets25 
Total assets$1,041 
Accounts payable$(208)
Accrued expenses(57)
Short-term operating lease liabilities(16)
Deferred tax liabilities(98)
Long-term operating lease liabilities(68)
Other long-term liabilities(41)
Total liabilities$(488)
Net assets acquired$553 
Purchase price$1,048 
Goodwill recorded$495 
The following table summarizes the preliminary purchase price allocated to the identifiable intangible assets acquired:
(In millions)Fair ValueWeighted Average Useful Life (Years)
Customer relationships$444 15
Trademarks15 4
Total$459 15
Business Combination, Pro Forma Information
The following unaudited pro forma financial information presents the Company’s results of operations as if the Coyote acquisition occurred on January 1, 2023. The unaudited pro forma information includes adjustments for intangible assets acquired and elimination of historical intercompany transactions between RXO and Coyote. The unaudited pro forma financial information is for informational purposes only and is not necessarily indicative of our consolidated results of operations of the combined business had the acquisition been completed as of January 1, 2023 or of the results of our future operations of the combined business.
(In millions)Three Months Ended June 30, 2024Six Months Ended June 30, 2024
Revenue$1,567 $3,149 
Loss before income taxes(14)(32)