Huffman Trucking

| March 13, 2016

Huffman Trucking

Balance Sheet

(Unaudited)

December 31st

2011 2010

(In Thousands)

Assets

Current Assets

Cash & Cash Equivalents $89,664 $58,003

Accounts Receivable 51,869 81,557

Prepaid Expenses & Supplies 6,267 5,529

Total Current Assets $147,800 $145,089

Carrier Operating Property (at cost) $85,306 $81,461

Less: Allowance for Depreciation (69,536) (67,119)

Net Carrier Operating Property $15,770 $14,342

Assets of Discontinued Operations 7,516 8,739

Goodwill (net) 49,852 49,852

Other Assets 46,327 37,306

Total Assets $267,265 $255,328

Liabilities and Shareholders’ Equity

Current Liabilities

Accounts Payable $40,843 $45,381

Salaries & Wages 37,299 33,014

Current Portion of Long-Term Debt 1,752 1,343

Freight & Casualty Claims Payable 10,389 9,697

Total Current Liabilities $90,283 $89,435

Long-Term Liabilities

Accrued Pension & Post-Retirement Health Care $64,058 $58,672

Long-Term Debt 7,307 6,562

Total Long-Term Liabilities $71,365 $65,234

Shareholders’ Equity

Common Stock ($1.00 par value Authorized: 20,000,000 shares) $3.882 $3.882

Treasury Shares (1.952) (1.952)

Retained Earnings 105,615 100,657

Total Shareholders’ Equity $105,617 $100,659

Total Liabilities and Shareholders’ Equity $267,265 $255,328

Huffman Trucking

Statement of Income

(Unaudited)

December 31st

2011 2010

(In Thousands)

Revenue $1,109,295 $969,240

Operating Expenses

Salaries, Wages & Benefits $406,191 $367,993

Fuel Expense 318,737 258,904

Operating Supplies and Expenses 117,670 105,875

Purchased Transportation 138,140 114,250

Operating Taxes & Licenses 19,033 17,753

Insurance & Claims 11,995 12,493

Provision for Depreciation 3,009 2,773

Total Operating Expenses $1,014,775 $880,041

Operating Income form Continuing Operations $94,520 $89,199

Interest Expense $466 $768

Tax Expense 34,887 32,923

Net Income $59,167 $55,508

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