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Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2016	Nov. 01, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q3
Trading Symbol	XPO
Entity Registrant Name	XPO Logistics, Inc.
Entity Central Index Key	0001166003
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		110,769,845

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 360.3	$ 289.8
Accounts receivable, net of allowances of $26.2 and $16.9, respectively	2,338.4	2,266.4
Other current assets	473.0	401.0
Total current assets	3,171.7	2,957.2
Property and equipment, net of $543.7 and $209.3 in accumulated depreciation, respectively	2,711.3	2,852.2
Goodwill	4,734.1	4,610.6
Identifiable intangible assets, net of $353.6 and $224.5 in accumulated amortization, respectively	1,591.4	1,876.5
Deferred tax asset	2.1	113.6
Other long-term assets	208.7	233.1
Total long-term assets	9,247.6	9,686.0
Total assets	12,419.3	12,643.2
Current liabilities:
Accounts payable	912.0	1,063.7
Accrued expenses	1,476.5	1,291.8
Current maturities of long-term debt	117.1	135.3
Other current liabilities	188.3	203.6
Total current liabilities	2,693.9	2,694.4
Long-term debt	5,297.3	5,272.6
Deferred tax liability	703.1	933.3
Employee benefit obligations	278.2	312.6
Other long-term liabilities	370.9	369.5
Total long-term liabilities	6,649.5	6,888.0
Stockholders’ equity:
Convertible perpetual preferred stock, $.001 par value; 10,000,000 shares authorized; 72,885 of Series A shares issued and outstanding at September 30, 2016 and December 31, 2015	42.0	42.0
Common stock, $.001 par value; 300,000,000 shares authorized; 110,739,400 and 109,523,493 shares issued and outstanding at September 30, 2016 and December 31, 2015, respectively	0.1	0.1
Additional paid-in capital	3,233.9	3,212.3
Accumulated deficit	(428.9)	(465.0)
Accumulated other comprehensive loss	(125.1)	(72.3)
Total stockholders' equity before noncontrolling interests	2,722.0	2,717.1
Noncontrolling interests	353.9	343.7
Total equity	3,075.9	3,060.8
Total liabilities and equity	$ 12,419.3	$ 12,643.2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Accounts receivable, allowances	$ 26.2	$ 16.9
Property and equipment, accumulated depreciation	543.7	209.3
Identifiable intangible assets, accumulated amortization	$ 353.6	$ 224.5
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	300,000,000	300,000,000
Common stock, shares issued (in shares)	110,739,400	109,523,493
Common stock, shares outstanding (in shares)	110,739,400	109,523,493
Series A Preferred Stock
Preferred stock, shares issued (in shares)	72,885	72,885
Preferred stock, shares outstanding (in shares)	72,885	72,885

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Statement [Abstract]
Revenue	$ 3,713.8	$ 2,362.1	$ 10,942.8	$ 4,281.0
Operating expenses
Cost of transportation and services	2,008.4	1,237.3	5,926.8	2,385.4
Direct operating expense	1,153.4	798.1	3,389.8	1,267.5
Sales, general and administrative expense	383.2	282.6	1,224.7	618.7
Total operating expenses	3,545.0	2,318.0	10,541.3	4,271.6
Operating income	168.8	44.1	401.5	9.4
Other (income) expense	(2.7)	1.6	(9.4)	3.9
Foreign currency loss	1.3	14.5	4.5	34.6
Debt extinguishment loss	53.2	0.0	53.2	0.0
Interest expense	93.0	61.5	280.8	120.9
Income (loss) before income tax provision (benefit)	24.0	(33.5)	72.4	(150.0)
Income tax provision (benefit)	2.7	1.9	20.0	(21.3)
Net income (loss)	21.3	(35.4)	52.4	(128.7)
Net income attributable to noncontrolling interests	(6.2)	(5.0)	(13.2)	(0.6)
Net income (loss) attributable to XPO	15.1	(40.4)	39.2	(129.3)
Earnings per share data:
Net income (loss) attributable to common shareholders	$ 13.8	$ (93.1)	$ 35.8	$ (183.5)
Basic earnings (loss) per share (in dollars per share)	$ 0.13	$ (0.94)	$ 0.33	$ (2.10)
Diluted earnings (loss) per share (in dollars per share)	$ 0.11	$ (0.94)	$ 0.30	$ (2.10)
Weighted-average common shares outstanding
Basic weighted-average common shares outstanding (in shares)	110.3	98.6	110.0	87.3
Diluted weighted-average common shares outstanding (in shares)	122.9	98.6	119.2	87.3

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 21.3	$ (35.4)	$ 52.4	$ (128.7)
Less: Net income attributable to noncontrolling interests	(6.2)	(5.0)	(13.2)	(0.6)
Net income (loss) attributable to XPO	15.1	(40.4)	39.2	(129.3)
Other comprehensive income (loss)
Foreign currency translation losses	(8.0)	(6.3)	(27.2)	(0.6)
Unrealized gains (losses) on cash flow and net investment hedges, net of tax effect of $9.2, $0.1, $16.7 and $0.1	(12.4)	16.2	(23.3)	(17.0)
Change in defined benefit plans liability, net of tax effect of $1.1, $(2.5), $1.1 and $(5.4)	(5.3)	9.9	(5.3)	21.4
Other comprehensive (loss) income	(25.7)	19.8	(55.8)	3.8
Less: Other comprehensive loss (income) attributable to noncontrolling interests	1.1	1.8	3.0	(3.4)
Other comprehensive (loss) income attributable to XPO	(24.6)	21.6	(52.8)	0.4
Comprehensive loss	(4.4)	(15.6)	(3.4)	(124.9)
Less: Comprehensive income attributable to noncontrolling interests	(5.1)	(3.2)	(10.2)	(4.0)
Comprehensive loss attributable to XPO	$ (9.5)	$ (18.8)	$ (13.6)	$ (128.9)

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Statement of Comprehensive Income [Abstract]
Unrealized gains (losses) on cash flow and net investment hedges, tax effect	$ 9.2	$ 0.1	$ 16.7	$ 0.1
Change in defined benefit plans liability, tax effect	$ 1.1	$ (2.5)	$ 1.1	$ (5.4)

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Operating activities
Net income (loss)	$ 52.4	$ (128.7)
Adjustments to reconcile net income (loss) to net cash from operating activities
Depreciation and amortization	485.4	191.9
Deferred tax benefit	(2.3)	(41.9)
Stock compensation expense	34.2	19.7
Accretion of debt	12.3	4.7
Loss on extinguishment of debt	53.2	0.0
Other	5.9	8.9
Changes in assets and liabilities, net of effects of acquisitions:
Accounts receivable	(79.0)	(2.3)
Other assets	(72.5)	32.5
Accounts payable	(150.7)	(59.9)
Accrued expenses and other liabilities	65.7	14.5
Cash flows provided by operating activities	404.6	39.4
Investing activities
Payment for purchases of property and equipment	(318.5)	(114.4)
Proceeds from sale of assets	57.9	38.7
Acquisition of businesses, net of cash acquired	0.0	(1,609.8)
Other	8.6	(9.7)
Cash flows used by investing activities	(252.0)	(1,695.2)
Financing activities
Proceeds from issuance of long-term debt	1,377.8	2,596.7
Payment for debt issuance costs	(24.9)	(7.9)
Repurchase of debt	(1,334.2)	0.0
Repayment of long-term debt and capital leases	(126.4)	(1,067.4)
Proceeds from borrowing on revolving credit facility	260.0	0.0
Repayment of borrowings on revolving credit facility	(260.0)	0.0
Proceeds from preferred stock and common stock offerings	0.0	1,260.0
Payment for equity issuance costs	0.0	(31.9)
Purchase of noncontrolling interests	0.0	(459.7)
Bank overdrafts	24.9	14.4
Dividends paid	(2.5)	(2.2)
Other	2.0	0.2
Cash flows (used) provided by financing activities	(83.3)	2,302.2
Effect of exchange rates on cash	1.2	(5.2)
Net increase in cash	70.5	641.2
Cash and cash equivalents, beginning of period	289.8	644.1
Cash and cash equivalents, end of period	360.3	1,285.3
Supplemental disclosure of cash flow information:
Cash paid for interest	259.1	93.5
Cash paid for income taxes	41.7	0.5
Non-cash investing and financing activities:
Property and equipment acquired through capital lease	40.0	0.0
Equity portion of acquisition purchase price	0.0	1.5
Exchange Term Loan B	1,197.2	0.0
Equity issued upon conversion of debt	$ 2.8	$ 42.3

Organization	9 Months Ended
Organization	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Nature of Business XPO Logistics, Inc. and its subsidiaries ("XPO" or the "Company") use an integrated network of people, technology and physical assets to help customers manage their goods more efficiently throughout their supply chains. The Company’s customers are multinational, national, mid-size and small enterprises, and include many of the most prominent companies in the world. XPO runs its business on a global basis, with two reportable segments: Transportation and Logistics. In the Transportation segment, the Company provides multiple services to facilitate the movement of raw materials, parts and finished goods. The Company accomplishes this by using its proprietary transportation management technology, third-party carriers and Company-owned trucks. XPO’s transportation services include: freight brokerage, last mile, expedite, intermodal, less-than-truckload ("LTL"), full truckload, managed transportation and global forwarding services. Freight brokerage, last mile, expedite, intermodal, managed transportation and global forwarding are all non-asset or asset-light businesses. LTL and full truckload are asset-based. In the Logistics segment, referred to as supply chain, the Company provides a range of contract logistics services, including highly engineered and customized solutions, value-added warehousing and distribution, and other inventory solutions. The Company performs e-commerce fulfillment, reverse logistics, storage, factory support, aftermarket support, integrated manufacturing, packaging, labeling, distribution and transportation. In addition, the Company utilizes technology and expertise to solve complex supply chain challenges and create transformative solutions for world-class customers, while reducing their operating costs and improving production flow management. Substantially all of the Company’s businesses operate as the single global brand of XPO Logistics. Under the Company’s cross-selling initiative, all services are offered to all customers to fulfill their supply chain requirements, and multiple services are often combined into an optimal solution. For specific financial information relating to the above segments, refer to Note 15—Segment Reporting.

Basis of Presentation

9 Months Ended

Sep. 30, 2016

Accounting Policies [Abstract]

Basis of Presentation

These unaudited interim financial statements have been prepared in accordance with accounting principles generally accepted in the U.S. for interim financial information and Rule 10-01 of Regulation S-X, and should be read in conjunction with the Company's 2015 Annual Report on Form 10-K. Accordingly, significant accounting policies and other disclosures normally provided have been reduced or omitted. The preparation of the condensed consolidated financial statements requires management to make estimates and judgments that affect the reported amounts of assets and liabilities and the disclosure of contingencies at the date of the financial statements as well as the reported amounts of revenue and expense during the reporting period. Estimates have been prepared on the basis of the most current and best available information, but actual results could differ materially from those estimates. Intercompany transactions have been eliminated in the condensed consolidated financial statements. The results of operations of acquired companies are included in the Company’s results from the closing date of the acquisition and forward.

Fair Value Measurements

FASB ASC Topic 820, "Fair Value Measurements and Disclosures," defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date and classifies the inputs used to measure fair value into the following hierarchy:


•	Level 1—Quoted prices for identical instruments in active markets;


•	Level 2—Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs are observable in active markets; and


•	Level 3—Valuations based on inputs that are unobservable, generally utilizing pricing models or other valuation techniques that reflect management’s judgment and estimates.

The aggregate net fair value estimates are based upon certain market assumptions and pertinent information available to management. The respective carrying values of certain financial instruments approximated their fair values as of September 30, 2016 and December 31, 2015, respectively. These financial instruments include cash, accounts receivable, accounts payable, accrued expenses and current maturities of long-term debt. Fair values approximate carrying values for these financial instruments since they are short-term in nature or are receivable or payable on demand. The fair value of the asset financing arrangements ("Asset Financing") approximates carrying value since the debt is primarily issued at a floating rate, may be prepaid any time at par without penalty and the remaining life is short-term in nature. For information regarding the fair value hierarchy of the Company's financial liabilities and derivative instruments, refer to Note 9—Debt and Note 12—Derivative Instruments, respectively.

The following table summarizes the fair value hierarchy of cash equivalents assets:



	September 30, 2016
(In millions)	Carrying Value		Fair Value		Level 1		Level 2
Cash equivalents	$	143.7	$	143.7	$	29.2	$	114.5

	December 31, 2015
(In millions)	Carrying Value		Fair Value		Level 1		Level 2
Cash equivalents	$	83.2	$	83.2	$	9.1	$	74.1

New Accounting Standards

In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue (Topic 606): “Revenue from Contracts with Customers.” This ASU, codified in the "Revenue Recognition" topic of the FASB Accounting Standards Codification, requires revenue to be recognized upon the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The standard also requires disclosures sufficient to describe the nature, amount, timing, and uncertainty of revenue and cash flows arising from these customer contracts. This standard is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017, with early adoption permitted for the first interim period within annual reporting periods beginning after December 15, 2016. This ASU can be applied either retrospectively to each prior reporting period presented or with the cumulative effect of initially applying the standard recognized on the date of adoption. The Company is currently evaluating the method of application and the potential impact on the consolidated financial statements and related disclosures.

In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The core principle of Topic 842 is that a lessee should recognize the assets and liabilities that arise from leases, including operating leases. Under the new requirements, a lessee will recognize in the statement of financial position a liability to make lease payments (the lease liability) and the right-of-use asset representing the right to the underlying asset for the lease term. For leases with a term of 12 months or less, the lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. The standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early application of the amendment is permitted. The Company is currently evaluating the standard and the impact on the consolidated financial statements and related disclosures.

In March 2016, the FASB issued ASU No. 2016-08, Revenue from Contracts with Customers (Topic 606): "Principal versus Agent Considerations (Reporting Revenue Gross versus Net)." This ASU clarifies the implementation guidance on principal versus agent considerations. This standard is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017, with early adoption permitted for the first interim period within annual reporting periods beginning after December 15, 2016. The Company is currently evaluating the standard and the impact on the consolidated financial statements and related disclosures.

In March 2016, the FASB issued ASU No. 2016-09, Compensation - Stock Compensation (Topic 718): "Improvements to Employee Share-based Payment Accounting." This ASU involves several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. Under the new standard, income tax benefits and deficiencies are to be recognized as income tax expense or benefit in the income statement and the tax effects of exercised or vested awards should be treated as discrete items in the reporting period in which they occur. An entity should also recognize excess tax benefits regardless of whether the benefit reduces taxes payable in the current period. Excess tax benefits should be classified along with other income tax cash flows as an operating activity. In regards to forfeitures, the entity may make an entity-wide accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures when they occur. This ASU is effective for fiscal years beginning after December 15, 2016 including interim periods within that reporting period; however early adoption is permitted. The Company is currently evaluating the standard and the impacts, if any, on the consolidated financial statements and related disclosures.

In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): "Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force)." This ASU addresses eight specific cash flow classification issues with the objective of reducing the existing diversity in practice. Under the new standard, cash payments for debt prepayments or debt extinguishment costs should be classified as outflows for financing activities. Additional cash flow issues covered under the standard include: settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate-owned life insurance policies, distributions received from equity method investees, beneficial interests in securitization transactions, and separately identifiable cash flows and application of the predominance principle. This ASU is effective for public entities for fiscal years beginning after December 15, 2017, including interim periods within that reporting period; however, early adoption is permitted. The Company is currently evaluating the standard and the impacts, if any, on the consolidated financial statements and related disclosures.

Acquisitions and Divestitures

9 Months Ended

Sep. 30, 2016

Business Combinations [Abstract]

Acquisitions and Divestitures

2015 Acquisitions

Con-way Inc.

On September 9, 2015, XPO entered into a definitive Agreement and Plan of Merger (the "Merger Agreement") with Con-way Inc., a Delaware corporation ("Con-way"). Headquartered in Ann Arbor, Michigan, Con-way was a Fortune 500 company with a transportation and logistics network of 582 locations and approximately 30,000 employees serving over 36,000 customers.

XPO completed its acquisition of Con-way on October 30, 2015. The fair value of the total consideration paid by XPO was $2,317.8 million, net of cash acquired of $437.3 million, consisting of $2,706.6 million of cash paid at the time of closing for the purchase of all of Con-way’s outstanding shares of common stock, par value $0.625 (the “Con-way Shares”), $17.6 million representing the portion of replacement equity awards attributable to pre-acquisition service, and a $30.9 million liability for the settlement of certain Con-way stock-based compensation awards.

At the effective time (as specified in the Merger Agreement, the "Effective Time"), each Con-way stock option and stock appreciation right, whether vested or unvested, was converted into an option to purchase shares of XPO common stock or a stock appreciation right in respect of XPO common stock, as applicable, with the same terms and conditions as were applicable to such stock option or stock appreciation right immediately prior to the Effective Time, with the number of shares of XPO common stock (rounded down to the nearest whole number of shares) subject to such stock option or stock appreciation right equal to the product of (i) the total number of Con-way Shares underlying such stock option or stock appreciation right immediately prior to the Effective Time, multiplied by (ii) the quotient obtained by dividing the per share merger consideration by the volume-weighted average trading price of XPO common stock on the New York Stock Exchange for the five consecutive trading days ending on the trading day immediately preceding the closing date (the "Equity Award Conversion Amount"), and with the exercise price applicable to such stock option or stock appreciation right to equal the quotient (rounded up to the nearest whole cent) obtained by dividing (a) the exercise price per Share applicable to such stock option or stock appreciation right immediately prior to the Effective Time, by (b) the Equity Award Conversion Amount.



(Dollars in millions)
Cash consideration	$	2,706.6
Liability for equity award settlement	30.9
Portion of replacement equity awards attributable to pre-acquisition service	17.6
Cash acquired	(437.3		)
Total consideration	$	2,317.8

The Con-way transaction was accounted for as a business combination in accordance with ASC Topic 805 "Business Combinations." Assets acquired and liabilities assumed were recorded in the accompanying consolidated balance sheet at their estimated fair values as of October 30, 2015, with the remaining unallocated purchase price recorded as goodwill. Goodwill includes the expected synergies and cost rationalization from the merger of operations as well as intangible assets that do not qualify for separate recognition such as an assembled workforce.

The following table outlines the consideration transferred and purchase price allocation at the respective estimated fair values as of October 30, 2015:



(Dollars in millions)
Consideration	$	2,317.8
Accounts receivable	676.5
Other current assets	141.4
Property and equipment	1,864.3
Trade name	5.6
Customer relationships	641.0
Other long-term assets	53.5
Accounts payable	(367.6		)
Accrued expenses	(394.9		)
Other current liabilities	(27.5		)
Long-term debt	(640.6		)
Deferred tax liabilities	(603.9		)
Employee benefit obligations	(153.5		)
Other long-term liabilities	(202.9		)
Goodwill	$	1,326.4

As of September 30, 2016, the purchase price allocation remains preliminary and is based on information that is available to XPO management at the time the condensed consolidated financial statements were prepared. The most significant open items include the fair value of property and equipment, definite-lived intangible assets, assumed liabilities and taxes. Based on a preliminary allocation, $1,076.1 million of the goodwill relates to the Transportation segment and $250.3 million of the goodwill relates to the Logistics segment. The goodwill as a result of the acquisition is not deductible for income tax purposes.

Norbert Dentressangle SA

On April 28, 2015, XPO entered into (1) a Share Purchase Agreement (the "Share Purchase Agreement") relating to Norbert Dentressangle SA ("ND"), a French société anonyme, and (2) a Tender Offer Agreement (the "Tender Offer Agreement" and, together with the Share Purchase Agreement, the "ND Transaction Agreements") between XPO and ND. The ND Transaction Agreements provided for the acquisition of a majority stake in ND by XPO, followed by an all-cash simplified tender offer by XPO to acquire the remaining outstanding ND shares.

On June 8, 2015, pursuant to the terms of the Share Purchase Agreement, XPO purchased approximately 67% of the share capital of ND and all of the outstanding share subscription warrants granted by ND to employees, directors or other officers of ND and its affiliates (together, the “Share Purchase”). Total cash consideration paid by XPO for the Share Purchase was €1,437.0 million, or $1,603.9 million, excluding acquired debt. This cash consideration reflected only that portion of the fair value of the warrants attributable to service performed by employees, officers, or directors of ND and its affiliates prior to the acquisition date. The remaining balance of the fair value of the warrants was recorded as compensation expense in the post-combination period. The Company also agreed to settle certain ND performance stock awards. Similar to the warrants, the consideration paid by XPO for these stock awards of €11.8 million, or $13.2 million, included only that portion of the fair value attributable to service performed prior to the acquisition date with the balance recorded as compensation expense in the post-combination period. The performance shares will be settled in cash with 50% of the awards paid 18 months from the acquisition date and the remaining 50% paid in 36 months. Further, as a result of the acquisition, the Company repaid certain ND indebtedness and related interest rate swap liabilities totaling €628.5 million, or $705.0 million.

On June 25, 2015, XPO launched a mandatory simplified cash offer (the "Tender Offer") to purchase all of the outstanding ordinary shares of ND (other than the shares already owned by XPO). The Company purchased 1,921,553 shares under the Tender Offer and acquired a total of approximately 86.25% of the share capital of ND. The total fair value of the consideration paid by XPO in connection with the Tender Offer was €702.5 million, or $784.2 million, which is based on the quoted market price of ND shares on the acquisition date. The total consideration paid by XPO for ND is summarized in the table below in Euros ("EUR") and USD:



(In millions)	In EUR			In USD
Cash consideration	€	1,437.0		$	1,603.9
Liability for performance share settlement	11.8			13.2
Repayment of indebtedness	628.5			705.0
Noncontrolling interests	702.5			784.2
Cash acquired	(134.6		)	(151.0		)
Total consideration	€	2,645.2		$	2,955.3

The Share Purchase was accounted for as a business combination in accordance with ASC Topic 805 "Business Combinations." Assets acquired and liabilities assumed were recorded in the accompanying consolidated balance sheet at their estimated fair values as of June 8, 2015, with the remaining unallocated purchase price recorded as goodwill. Goodwill includes the expected synergies and cost rationalization from the merger of operations as well as intangible assets that do not qualify for separate recognition such as an assembled workforce. The following table outlines the consideration transferred and purchase price allocation at the respective estimated fair values as of June 8, 2015:



(In millions)
Consideration	$	2,955.3
Accounts receivable	1,058.5
Other current assets	353.6
Deferred tax assets	44.6
Property and equipment	706.1
Trade name covenants	40.0
Non-compete agreements	5.6
Customer relationships	827.0
Other long-term assets	57.1
Accounts payable	(806.0		)
Accrued expenses	(428.2		)
Other current liabilities	(131.8		)
Long-term debt	(643.4		)
Deferred tax liabilities	(237.7		)
Employee benefit obligations	(142.3		)
Other long-term liabilities	(177.2		)
Noncontrolling interests	(37.2		)
Goodwill	$	2,466.6

The ND purchase price allocation is final. Approximately $962.4 million of the final goodwill relates to the Transportation segment and $1,504.2 million of the goodwill relates to the Logistics segment. The goodwill resulting from the ND acquisition is not deductible for local country income tax purposes.

Bridge Terminal Transport Services, Inc.

On May 4, 2015, the Company entered into a Stock Purchase Agreement with BTTS Holding Corporation to acquire all of the outstanding capital stock of Bridge Terminal Transport Services, Inc. ("BTT"), a leading asset-light drayage provider in the United States. The closing of the transaction was effective on June 1, 2015. The fair value of the total consideration paid by XPO under the BTT Stock Purchase Agreement was $103.8 million and consisted of $103.1 million of cash paid at the time of closing, including an estimate of the working capital adjustment, and $0.7 million of equity.

The BTT acquisition was accounted for as a business combination in accordance with ASC Topic 805 "Business Combinations." Assets acquired and liabilities assumed were recorded in the accompanying consolidated balance sheet at their estimated fair values as of June 1, 2015, with the remaining unallocated purchase price recorded as goodwill. As a result of the acquisition, the Company recorded goodwill of $56.5 million and definite-lived intangible assets of $30.0 million. All goodwill relates to the Transportation segment and is not deductible for income tax purposes. The BTT purchase price allocation is final.

UX Specialized Logistics

On February 9, 2015, pursuant to an Asset Purchase Agreement of the same date between the Company and Earlybird Delivery Systems, LLC, the Company acquired certain assets of UX Specialized Logistics, LLC ("UX"). The fair value of the total consideration paid under the UX Asset Purchase Agreement was $58.9 million and consisted of $58.1 million of cash paid at the time of closing, including an estimate of the working capital adjustment, and $0.8 million of equity. UX provided last mile logistics and same day delivery services for major retail chains and e-commerce companies.

The UX acquisition was accounted for as a business combination in accordance with ASC Topic 805 "Business Combinations." Assets acquired and liabilities assumed were recorded in the accompanying consolidated balance sheet at their estimated fair values as of February 9, 2015, with the remaining unallocated purchase price recorded as goodwill. As a result of the UX acquisition, the Company recorded goodwill of $38.1 million and definite-lived intangible assets of $18.8 million. All goodwill relates to the Transportation segment and is fully deductible for income tax purposes. The UX purchase price allocation is final.

Pro Forma Financial Information

The following unaudited pro forma consolidated results of operations for the nine-month period ended September 30, 2015 present consolidated information of the Company as if the acquisitions of Con-way and ND had occurred as of January 1, 2015:



	Pro Forma Nine Months Ended
(Dollars in millions, except per share data)	September 30, 2015
Revenue	$	11,034.2
Operating income	$	220.7
Net loss	$	(118.1	)
Basic loss per share	$	(1.59	)
Diluted loss per share	$	(1.59	)

The unaudited pro forma consolidated results for the nine-month period were prepared using the acquisition method of accounting and are based on the historical financial information of Con-way, ND and the Company. The unaudited pro forma consolidated results incorporate historical financial information for all significant acquisitions pursuant to US Securities and Exchange Commission ("SEC") regulations since January 1, 2015. The historical financial information has been adjusted to give effect to pro forma adjustments that are: (i) directly attributable to the acquisition, (ii) factually supportable and (iii) expected to have a continuing impact on the combined results. The unaudited pro forma consolidated results are not necessarily indicative of what the Company’s consolidated results of operations actually would have been had it completed these acquisitions on January 1, 2015.

Divestitures

North American Truckload Operations

On October 27, 2016, pursuant to a Stock Purchase Agreement of the same date between the Company and a subsidiary of TransForce Inc. ("TransForce"), the Company divested its North American Truckload operations (formerly known as Con-way Truckload) for approximately $558 million cash consideration, subject to certain adjustments. The Company also agreed to provide certain specified transition services to TransForce following the transaction. For the nine-months ended September 30, 2016, these North American Truckload operations generated $360.5 million in revenue and operating income of $29.8 million. These North American Truckload operations had been previously reported in the Company’s Transportation segment. On November 3, 2016, the Company used the proceeds from sale of the North American Truckload operations to repurchase $555 million of Term Loan debt at par. The repurchase of debt will result in a non-cash debt extinguishment charge of approximately $16.5 million to be recognized in the fourth quarter of 2016.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1497-128463

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1490-128463

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1392-128463

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 30
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-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e7008-128479

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1486-128463

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 30
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e6927-128479

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=56956791&loc=d3e4845-128472

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1500-128463

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1524-128463

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 30
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e7000-128479

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=56956791&loc=d3e4922-128472

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=56956791&loc=d3e4934-128472

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=56956791&loc=d3e4926-128472

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1383-128463

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e6996-128479

+ Details

Restructuring Charges

9 Months Ended

Sep. 30, 2016

Restructuring and Related Activities [Abstract]

Restructuring Charges

In conjunction with various acquisitions, the Company has initiated facility rationalization and severance programs to close facilities and reduce employment in order to improve the Company's efficiency and profitability or adjust for the loss of certain business.

The restructuring charges incurred during the nine-month period ended September 30, 2016, and included in the Company's consolidated statement of operations as sales, general and administrative expense, direct operating expense, and cost of transportation and services, are summarized below.



			Nine months ended September 30, 2016
(In millions)	Reserve Balance at December 31, 2015		Charges Incurred		Payments			Reserve Balance at September 30, 2016
Transportation
Contract termination	$	0.1	$	—	$	—		$	0.1
Facilities	0.6		0.7		(0.8		)	0.5
Severance	26.7		5.1		(23.8		)	8.0
Total	27.4		5.8		(24.6		)	8.6
Logistics
Contract termination	0.8		0.4		(1.1		)	0.1
Severance	25.5		13.9		(19.5		)	19.9
Total	26.3		14.3		(20.6		)	20.0
Corporate
Contract termination	4.0		—		(2.6		)	1.4
Severance	3.5		0.3		(3.2		)	0.6
Total	7.5		0.3		(5.8		)	2.0
Total	$	61.2	$	20.4	$	(51.0	)	$	30.6

Contingencies	9 Months Ended
Contingencies	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies Litigation The Company is involved, and will continue to be involved, in numerous legal proceedings arising out of the conduct of its business. These proceedings may include, among other matters, claims for property damage or personal injury incurred in connection with the transportation of freight, claims regarding anti-competitive practices, and employment-related claims, including claims involving asserted breaches of employee restrictive covenants and tortious interference with contract. These proceedings also include numerous purported class action lawsuits, multi-plaintiff and individual lawsuits and state tax and other administrative proceedings that claim either that the Company’s owner operators or contract carriers should be treated as employees, rather than independent contractors, or that certain of the Company's drivers were not paid for all compensable time or were not provided with required meal or rest breaks. These lawsuits and proceedings may seek substantial monetary damages (including claims for unpaid wages, overtime, failure to provide meal and rest periods, unreimbursed business expenses and other items), injunctive relief, or both. The Company establishes accruals for specific legal proceedings when it is considered probable that a loss has been incurred and the amount of the loss can be reasonably estimated. Accruals for loss contingencies are reviewed quarterly and adjusted as additional information becomes available. In connection with certain acquisitions of privately-held businesses, the Company has retained purchase price holdbacks or escrows to provide security for a negotiated duration with respect to damages incurred in connection with pre-acquisition claims and litigation matters. If a loss is not both probable and reasonably estimable, or if an exposure to loss exists in excess of the amount accrued therefor or the applicable purchase price holdback or escrow, the Company assesses whether there is at least a reasonable possibility that a loss, or additional loss, may have been incurred. If there is a reasonable possibility that a loss, or additional loss, may have been incurred, the Company discloses the estimate of the possible loss or range of loss if it is material and an estimate can be made, or states that such an estimate cannot be made. The evaluation as to whether a loss is reasonably possible or probable is based on the Company’s assessment, in conjunction with legal counsel, regarding the ultimate outcome of the matter. The Company believes that it has adequately accrued for, or has adequate purchase price holdbacks or escrows with respect to, the potential impact of loss contingencies that are probable and reasonably estimable. The Company does not believe that the ultimate resolution of any matters to which the Company is presently a party will have a material adverse effect on its results of operations, financial condition or cash flows. However, the results of these matters cannot be predicted with certainty, and an unfavorable resolution of one or more of these matters could have a material adverse effect on the Company’s financial condition, results of operations or cash flows. Legal costs incurred related to these matters are expensed as incurred. The Company carries liability and excess umbrella insurance policies that it deems sufficient to cover potential legal claims arising in the normal course of conducting its operations as a transportation and logistics company. The liability and excess umbrella insurance policies generally do not cover the misclassification claims described in this Note. In the event the Company is required to satisfy a legal claim outside the scope of the coverage provided by insurance, the Company’s financial condition, results of operations or cash flows could be negatively impacted. Intermodal Drayage Classification Claims Certain of the Company’s intermodal drayage subsidiaries received notices from the California Labor Commissioner, Division of Labor Standards Enforcement (the "DLSE"), that a total of approximately 150 owner operators contracted with these subsidiaries filed claims in 2012 with the DLSE in which they assert that they should be classified as employees, rather than independent contractors. These claims seek reimbursement for the owner operators’ business expenses, including fuel, tractor maintenance and tractor lease payments. After a decision was rendered by a DLSE hearing officer in seven of these claims, in 2014, the Company appealed the decision to California Superior Court, San Diego, where a de novo trial was held on the merits of those claims. On July 17, 2015, the court issued a final statement of decision finding that the seven claimants were employees rather than independent contractors, and awarding an aggregate of $2.9 million plus post-judgment interest and attorneys' fees to the claimants. The Company appealed this judgment, but cannot provide assurance that such appeal will be successful. Separate decisions were rendered in June 2015 by a DLSE hearing officer in claims involving five additional plaintiffs, resulting in an award for the plaintiffs in an aggregate amount of approximately $0.9 million, following which the Company has appealed the decisions in the U.S. District Court for the Central District of California. These proceedings are currently in the discovery phase. The remaining DLSE claims (the "Pending DLSE Claims") have been transferred to California Superior Court in three separate actions involving approximately 200 claimants, including the approximately 150 claimants mentioned above. These matters are in the initial procedural stages. The Company believes that it has adequately accrued for the potential impact of loss contingencies that are probable and reasonably estimable relating to the claims referenced above. The Company is unable at this time to estimate the amount of the possible loss or range of loss, if any, in excess of its accrued liability that it may incur as a result of these claims given, among other reasons, that the number and identities of plaintiffs in these lawsuits are uncertain and the range of potential loss could be impacted substantially by future rulings by the courts involved, including on the merits of the claims. One of the Company's intermodal drayage subsidiaries also is a party to a putative class action litigation (Manuela Ruelas Mendoza v. Pacer Cartage, Inc.) brought by Edwin Molina on August 19, 2013 and currently pending in the U.S. District Court, Southern District of California. Mr. Molina asserts that he should be classified as an employee, rather than an independent contractor, and seeks damages for alleged violation of various California wage and hour laws on behalf of himself and all owner-operators contracted with this subsidiary at any time from August 19, 2009 to April 29, 2016. Certain of these potential claimants also may have Pending DLSE Claims. The Company has reached an agreement to settle this litigation with the claimant. The Court has approved the settlement agreement, and it has been accepted by 520 members of the putative class. The administration of settlement payments is yet to be completed. The Company has accrued the full amount of the proposed settlement. There are other putative class action litigation matters pending against the Company’s intermodal drayage subsidiaries in which the plaintiffs claim they should have been classified as employees, rather than independent contractors, and seek damages for alleged violations of various California wage and hour laws. The particular claims asserted vary from case to case, but the claims generally allege unpaid wages, unpaid overtime, or failure to provide meal and rest periods, and seek reimbursement of the contract carriers’ business expenses. These cases include the following matters filed in the Superior Court for the State of California, Los Angeles District: C. Arevalo v. XPO Port Services, Inc. filed in August 2015; H. Lopez v. PDS Transportation filed in January 2016; M. Cortez v. Pacer filed in June 2016; and the following case filed in U.S. District Court for the Central District of California: I. Hernandez v. Pacer filed in May 2016. Certain of these potential claimants also may have Pending DLSE Claims, and may be subject to binding arbitration obligations. These matters are in the initial pleading stage and the courts have not yet determined whether to certify the matters as a class action. The Company believes that it has adequately accrued for the potential impact of loss contingencies that are probable and reasonably estimable relating to these claims. The Company is unable at this time to estimate the amount of the possible loss or range of loss, if any, in excess of its accrued liability that it may incur as a result of these claims given, among other reasons, that the number and identities of plaintiffs in these lawsuits are uncertain and the range of potential loss could be impacted substantially by future rulings by the courts involved, including on the merits of the claims. Last Mile Logistics Classification Claims Certain of the Company’s last mile logistics subsidiaries are party to several putative class action litigations brought by independent contract carriers contracted with these subsidiaries in which the contract carriers assert that they should be classified as employees, rather than independent contractors. The particular claims asserted vary from case to case, but the claims generally allege unpaid wages, unpaid overtime, or failure to provide meal and rest periods, and seek reimbursement of the contract carriers’ business expenses. Putative class actions against the Company’s subsidiaries are pending in California (Fernando Ruiz v. Affinity Logistics Corp., filed in May 2005, currently in the Federal District Court, Southern District of California; Ron Carter, Juan Estrada, Jerry Green, Burl Malmgren, Bill McDonald and Joel Morales v. XPO Logistics, Inc., filed in March 2016 in the Federal District Court, Northern District of California; Ramon Garcia v. Macy’s and XPO Logistics Inc., filed in July 2016 in Superior Court of the State of California, Alameda County; and Kevin Kramer v. XPO Logistics Inc., filed in September 2016 in Superior Court of the State of California, Alameda County); New Jersey (Leonardo Alegre v. Atlantic Central Logistics, Simply Logistics, Inc., filed in March 2015 in the Federal District Court, New Jersey); Pennsylvania (Victor Reyes v. XPO Logistics, Inc., filed in May 2015 in the U.S. District Court, Pennsylvania); and Connecticut (Carlos Taveras v. XPO Last Mile, Inc., filed in November 2015 in the Federal District Court, Connecticut). The Company believes that it has adequately accrued for the potential impact of loss contingencies relating to the foregoing claims that are probable and reasonably estimable. The Company is unable at this time to estimate the amount of the possible loss or range of loss, if any, in excess of its accrued liability that it may incur as a result of these claims given, among other reasons, that the number and identities of plaintiffs in these lawsuits are uncertain and the range of potential loss could be impacted substantially by future rulings by the courts involved, including on the merits of the claims. Last Mile TCPA Claims The Company is a party to a putative class action litigation (Leung v. XPO Logistics, Inc., filed in May 2015 in the U.S. District Court, Illinois) alleging violations of the Telephone Consumer Protection Act ("TCPA") related to an automated customer call system used by a last mile logistics business that the Company acquired. This matter is in the initial pleading stage and the court has not yet determined whether to certify the matter as a class action. The Company believes that it has adequately accrued for the potential impact of loss contingencies that are probable and reasonably estimable relating to this matter. The Company is unable at this time to estimate the amount of the possible loss or range of loss, if any, in excess of its accrued liability that it may incur as a result of this matter given, among other reasons, that the Company is vigorously defending the matter and believes that it has a number of meritorious legal defenses and that it remains uncertain what evidence of their claims and damages, if any, plaintiffs will be able to present. Less-Than-Truckload Meal Break Claims The Company’s LTL subsidiary is a party to several class action litigations alleging violations of the state of California's wage and hour laws. Plaintiffs allege failure to provide drivers with required meal breaks and rest breaks. Plaintiffs seek to recover unspecified monetary damages, penalties, interest and attorneys’ fees. The primary case is Jose Alberto Fonseca Pina, et al. v. Con-way Freight Inc., et al. (the "Pina case"). The Pina case was initially filed in November 2009 in Monterey County Superior Court and was removed to the U.S. District Court of California, Northern District. The Company has reached an agreement to settle the Pina case, which has been tentatively approved by the court, but is subject to further legal challenge after notice of the settlement is sent to purported class members. Until the challenge period elapses, there can be no assurance that the settlement agreement will be approved. The Company has accrued the full amount of the proposed settlement.

Property and Equipment

9 Months Ended

Sep. 30, 2016

Property, Plant and Equipment [Abstract]

Property and Equipment

The following table outlines the Company’s property and equipment:



(In millions)	September 30, 2016			December 31, 2015
Property and Equipment
Land	$	391.4		$	359.5
Buildings and leasehold improvements	465.1			476.8
Vehicles, tractors, trailers and tankers	1,502.7			1,440.5
Machinery and equipment	347.0			325.9
Office and warehouse equipment	75.1			79.5
Computer software and equipment	473.7			379.3
	3,255.0			3,061.5
Less: Accumulated depreciation and amortization	(543.7		)	(209.3		)
Total Property and Equipment, net	$	2,711.3		$	2,852.2

Depreciation of property and equipment and amortization of computer software was $117.5 million and $56.5 million for the three-month periods ended September 30, 2016 and 2015, respectively, and $353.0 million and $98.8 million for the nine-month periods ended September 30, 2016 and 2015, respectively. The net book value of capitalized internally-developed software totaled $138.2 million and $122.8 million as of September 30, 2016 and December 31, 2015, respectively.

Intangible Assets

9 Months Ended

Sep. 30, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

The following table outlines the Company’s identifiable intangible assets:



	September 30, 2016				December 31, 2015
(In millions)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Definite-lived intangibles
Customer relationships	$	1,864.4	$	290.3	$	2,017.0	$	174.3
Trade name	50.1		39.2		51.0		29.1
Non-compete agreements	16.2		9.8		18.7		6.8
Carrier relationships	12.1		12.1		12.1		12.1
Other intangible assets	2.2		2.2		2.2		2.2
	$	1,945.0	$	353.6	$	2,101.0	$	224.5

The range of estimated useful lives and the weighted-average useful lives of the respective intangible assets by type are as follows:



Classification	Estimated Useful Life	Weighted-Average Amortization Period
Customer relationships	1.5 to 16 years	13.33 years
Trade names	1.2 to 3.5 years	2.86 years
Non-compete agreements	Term of agreement	4.60 years

Intangible asset amortization expense recorded in sales, general and administrative expense was $44.1 million and $45.5 million for the three-month periods ended September 30, 2016 and 2015, respectively, and $130.2 million and $93.1 million for the nine-month periods ended September 30, 2016 and 2015, respectively.

Goodwill

9 Months Ended

Sep. 30, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The following table shows changes in the gross carrying amounts of goodwill. The current period additions are the result of adjustments related to prior year acquisitions for which the measurement period remains open.



(In millions)	Transportation			Logistics			Total
Goodwill at December 31, 2015	$	2,504.7		$	2,105.9		$	4,610.6
Property and equipment and intangible asset fair value adjustments	178.9			41.5			220.4
Other fair value adjustments	50.1			(28.7		)	21.4
Impact of foreign exchange translation	0.5			(27.9		)	(27.4		)
Deferred tax and other tax adjustments	(63.1		)	(27.8		)	(90.9		)
Goodwill at September 30, 2016	$	2,671.1		$	2,063.0		$	4,734.1

Debt

9 Months Ended

Sep. 30, 2016

Debt Disclosure [Abstract]

Debt

The following table summarizes the carrying value and valuation of financial liabilities within the fair value hierarchy:



	September 30, 2016
					Fair Value
(In millions)	Principal Balance		Carrying Value		Level 1		Level 2
Financial Liabilities:
Senior Notes due 2023	$	535.0	$	526.8	$	551.1	$	—
Senior Notes due 2022	1,600.0		1,579.2		1,674.0		—
Senior Notes due 2021	558.1		551.1		586.0		—
Senior Notes due 2018	265.8		267.4		272.2		—
Term loan facility	2,016.5		1,955.2		—		2,035.4
Senior Debentures due 2034	300.0		200.4		236.3		—
Convertible senior notes	49.5		46.4		110.3		—
Euro private placement notes due 2020	13.4		14.6		—		14.7
Asset financing	92.9		92.9		92.9		—
Capital leases for equipment	63.3		63.3		—		63.3
Total long-term debt	$	5,494.5	$	5,297.3	$	3,522.8	$	2,113.4



	December 31, 2015
					Fair Value
(In millions)	Principal Balance		Carrying Value		Level 1		Level 2
Financial Liabilities:
Senior Notes due 2022	$	1,600.0	$	1,577.0	$	1,479.8	$	—
Senior Notes due 2021	544.5		536.6		—		507.5
Senior Notes due 2019	900.0		900.4		920.3		—
Senior Notes due 2018	265.8		268.2		—		271.0
Term loan facility	1,584.1		1,524.4		—		1,574.2
Senior Debentures due 2034	300.0		199.0		—		201.0
Convertible senior notes	52.3		46.8		89.1		—
Euro private placement notes due 2020	13.1		14.5		—		13.9
Asset financing	166.5		166.5		166.5		—
Capital leases for equipment	39.2		39.2		—		39.2
Total long-term debt	$	5,465.5	$	5,272.6	$	2,655.7	$	2,606.8

Issuance of Senior Notes Due 2023

On August 25, 2016, the Company completed a private placement of $535.0 million aggregate principal amount of 6.125% senior notes due September 1, 2023 (“Senior Notes due 2023”). Total debt issuance costs related to the Senior Notes due 2023 classified on the balance sheet as long-term debt at September 30, 2016 were $8.4 million.

The Senior Notes due 2023 bear interest at a rate of 6.125% per annum payable semiannually, in cash in arrears, on March 1 and September 1 of each year, commencing March 1, 2017 and maturing on September 1, 2023.

The Senior Notes due 2023 are guaranteed by each of the Company’s direct and indirect wholly-owned restricted subsidiaries (other than certain excluded subsidiaries) that are obligors under, or guarantee obligations under, the Company’s existing revolving credit agreement or existing term loan credit agreements (or certain replacements thereof) or guarantee certain capital markets indebtedness of the Company or any guarantor of the Senior Notes due 2023. The Senior Notes due 2023 and the guarantees thereof are unsecured, unsubordinated indebtedness of the Company and the guarantors.

Refinancing of Existing Term Loan

On August 25, 2016, the Company entered into an Incremental and Refinancing Amendment (Amendment No. 1 to Credit Agreement) (the “Amendment”), by and among XPO, its subsidiaries signatory thereto, as guarantors, the lenders party thereto and Morgan Stanley Senior Funding, Inc., in its capacity as administrative agent (the "Administrative Agent"), amending the Senior Secured Term Loan Credit Agreement, dated as of October 30, 2015 (as amended, amended and restated, supplemented or otherwise modified prior to the date hereof, the “Term Loan Credit Agreement”), by and among XPO, the other subsidiaries from time to time party thereto, as guarantors, the lenders from time to time party thereto and the Administrative Agent.

Pursuant to the Amendment, the outstanding $1,592.0 million principal amount of term loans under the Term Loan Credit Agreement (the “Existing Term Loans”) were replaced with a like aggregate principal amount of new term loans (the “New Term Loans”) having substantially similar terms as the Existing Term Loans, other than with respect to the applicable interest rate and prepayment premiums in respect of certain voluntary prepayments. The interest rate margin applicable to the New Term Loans was reduced from 3.50% to 2.25%, in the case of base rate loans, and from 4.50% to 3.25%, in the case of LIBOR loans. Debt extinguishment costs related to various lenders exiting the syndicate were approximately $18.0 million.

In addition, pursuant to the Amendment, the Company borrowed an additional $400.0 million of Incremental Term B-1 Loans (the “Incremental Term B-1 Loans”) and an additional $50.0 million of Incremental Term B-2 Loans (the “Incremental Term B-2 Loans”). The New Term Loans, Incremental Term B-1 Loans and Incremental Term B-2 Loans have identical terms, other than with respect to original issue discount, and will mature on October 30, 2021. Total debt issuance costs related to the New Term Loans, Incremental Term B-1 Loans and Incremental Term B-2 Loans classified on the balance sheet as long-term debt at September 30, 2016 were $18.9 million.

Redemption of Senior Notes due 2019

On September 12, 2016 (the “Redemption Date”), XPO redeemed all of its outstanding 7.875% Notes due 2019 (the “2019 Notes”) issued under the Indenture, dated as of August 25, 2014, between XPO Logistics, Inc. and The Bank of New York Mellon Trust Company, N.A., as Trustee. The redemption price for the 2019 Notes was 103.938% of the principal amount of the 2019 Notes, plus accrued and unpaid interest to, but excluding, the Redemption Date. Debt extinguishment costs were $35.2 million.

Stock-Based Compensation

9 Months Ended

Sep. 30, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Compensation

The Company recognized the following stock-based compensation expense in direct operating expense and sales, general and administrative expense:



	Three Months Ended September 30,				Nine Months Ended September 30,
(In millions)	2016		2015		2016		2015
Stock options	$	0.3	$	0.3	$	1.0	$	1.6
Stock appreciation rights	0.4		—		0.4		—
Restricted stock units	2.7		0.8		10.2		3.0
Performance-based restricted stock units	1.3		1.6		5.4		15.0
Cash-settled performance-based restricted stock units	9.0		—		17.2		—
Warrants	—		—		—		8.5
Total stock-based compensation expense	$	13.7	$	2.7	$	34.2	$	28.1

The Company did not realize any excess tax benefit for tax deductions from the stock-based compensation plan in the three- and nine-month periods ended September 30, 2016 and 2015.

As of September 30, 2016, the Company had approximately $31.5 million of unrecognized compensation cost related to non-vested restricted stock units ("RSUs") and performance-based restricted stock units ("PRSUs") compensation that is anticipated to be recognized over a weighted-average period of approximately 3 years.

Cash-settled Performance-based Restricted Stock Units

In February 2016, the Company entered into employment agreements with its executive officers. Pursuant to these agreements, on February 9, 2016 the Company granted cash-settled PRSUs under the XPO Logistics Inc. Amended and Restated 2011 Omnibus Incentive Compensation Plan to each of the executive officers. Twenty-five percent of the PRSUs vest and are settled in cash on each of the first four anniversaries of the grant, subject to the grantee's continued employment through the applicable anniversary and achievement of certain performance targets for each tranche. Cash-settled PRSU awards are measured at fair value initially based on the closing price of the Company’s common stock at the date of grant and are required to be re-measured to fair value at each reporting date until settlement. Compensation expense for cash-settled PRSUs is recognized over the applicable performance periods based on the probability of achieving the performance conditions and the closing price of the Company’s common stock at each balance sheet date. The Company records as a liability (until settlement) the cost of a cash-settled PRSU award for which achievement of the performance condition is deemed probable. At September 30, 2016, the Company had granted 2,508,727 cash-settled PRSUs at a weighted-average fair value of $22.92 and recognized accrued liabilities of $17.2 million using a weighted-average fair value per PRSU of $36.67.

As of September 30, 2016, the Company had approximately $74.7 million of unrecognized compensation cost related to non-vested cash-settled PRSU compensation that is anticipated to be recognized over a weighted-average period of approximately 3.25 years and will vary based on changes in the Company's common stock price and the probability of achieving performance targets in future periods.

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three- and nine-months ended September 30, 2016, the Company recorded an income tax provision of $2.7 million and $20.0 million, respectively, yielding an effective tax rate of 11.3% and 27.6%, respectively. The effective tax rates were lower than the U.S. statutory rate of 35% primarily due to a release of tax reserves upon the favorable conclusion of a non-U.S. tax audit, the realization of benefits for transaction costs, state tax efficiencies and the geographic earnings mix of the Company's business. For the three- and nine-months ended September 30, 2015, the Company recorded an income tax provision of $1.9 million and an income tax benefit of $21.3 million, respectively, yielding an effective tax rate of (5.7)% and 14.2%, respectively. The effective tax rates differ from the U.S. statutory rate of 35% in the three- and nine-month periods ended September 30, 2015 primarily due to an increase in the valuation allowance on state and foreign net operating losses for which tax benefits were not realized, and changes in the geographic earnings mix of the Company's business. In determining valuation allowances, the Company performed an assessment of positive and negative evidence regarding the realization of the net deferred tax assets in accordance with ASC 740-10, “Accounting for Income Taxes.” This assessment included the evaluation of scheduled reversals of deferred tax liabilities, the availability of carry forwards and estimates of projected future taxable income. Based on this assessment, as of September 30, 2016, the Company recorded total valuation allowances of $73.3 million against deferred tax assets. Although realization is not assured, the Company has concluded that it is more likely than not that the remaining deferred tax assets will be realized; accordingly, no valuation allowance has been provided on these assets. As of September 30, 2016, our foreign subsidiaries have undistributed earnings which could be subject to taxation if repatriated. Deferred tax liabilities have not been recorded for such earnings because it is the Company management’s current intention to permanently reinvest such undistributed earnings in its non-U.S. subsidiaries. Due to the uncertainty caused by various methods in which such earnings could be repatriated, it is not practicable to estimate the actual amount of such deferred tax liabilities. The Company would consider and pursue appropriate alternatives to reduce any tax liability that would occur. If, in the future, undistributed earnings are repatriated to the U.S., or it is determined such earnings will be repatriated in the foreseeable future, deferred tax liabilities will be recorded accordingly.

Derivative Instruments

9 Months Ended

Sep. 30, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments

In the normal course of business, the Company is exposed to certain risks arising from business operations and economic factors, including fluctuations in interest rates and foreign currencies. To manage the volatility related to this exposure to fluctuations in interest rates and foreign currencies, the Company uses derivative instruments. The objective of these derivative instruments is to reduce fluctuations in the Company’s earnings and cash flows associated with changes in foreign currency rates and interest rates. These financial instruments are not used for trading or other speculative purposes. The Company has not historically incurred, and does not expect to incur in the future, any losses as a result of counterparty default.

The Company formally documents all relationships between hedging instruments and hedged items, as well as the risk management objective and strategy for undertaking various hedge transactions. This process includes linking cash flow hedges to specific forecasted transactions or the variability of cash flow to be paid. The Company also formally assesses, both at the hedge's inception and on an ongoing basis, whether the designated derivative instruments that are used in hedging transactions are highly effective in offsetting changes in the cash flow of hedged items. When a derivative instrument is determined not to be highly effective as a hedge or the underlying hedged transaction is no longer probable, hedge accounting is discontinued prospectively.

The following tables present the location on the consolidated balance sheets in which the Company’s derivative and nonderivative instruments have been recognized, the fair value hierarchy level applicable to each type of derivative and nonderivative instrument, and the related notional amounts and fair values as of September 30, 2016 and December 31, 2015.



	September 30, 2016
				Derivative Assets			Derivative Liabilities
(In millions)	Fair Value Hierarchy Level	Notional Amount		Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivatives designated as hedges:
Cross-currency swap agreements	Level 2	$	734.4	Other long-term assets	$	0.3	Other long-term liabilities	$	(28.8	)
Interest rate swaps	Level 2	200.9		Other current assets	—		Other current liabilities	(3.5		)
Derivatives not designated as hedges:
Interest rate swaps	Level 2	78.1		Other current assets	—		Other current liabilities	(0.4		)
Foreign currency option and forward contracts	Level 2	212.7		Other current assets	2.0		Other current liabilities	(0.1		)
Total					$	2.3		$	(32.8	)



	December 31, 2015
				Derivative Assets			Derivative Liabilities
(In millions)	Fair Value Hierarchy Level	Notional Amount		Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivatives designated as hedges:
Cross-currency swap agreements	Level 2	$	730.9	Other long-term assets	$	0.2	Other long-term liabilities	$	—
Interest rate swaps	Level 2	228.6		Other current assets	—		Other current liabilities	(7.3		)
Derivatives not designated as hedges:
Interest rate swaps	Level 2	43.5		Other current assets	—		Other current liabilities	(0.7		)
Foreign currency option contracts	Level 2	235.2		Other current assets	—		Other current liabilities	(1.0		)
Total					$	0.2		$	(9.0	)

The following table indicates the amount of gains/(losses) that have been recognized in accumulated other comprehensive loss in the consolidated balance sheets and gains/(losses) recognized in net income (loss) in the consolidated statements of operations for derivative and nonderivative instruments:



	Recognized in Accumulated Other Comprehensive Income (Loss)						Recognized in Earnings
(In millions)	Three Months Ended September 30, 2016			Three Months Ended September 30, 2015			Three Months Ended September 30, 2016			Three Months Ended September 30, 2015
Derivatives designated as hedges:
Cross-currency swap agreements	$	(17.9	)	$	11.5		$	—		$	—
Interest rate swaps	0.3			(0.7		)	—			—
Derivatives not designated as hedges:
Interest rate swaps	—			—			0.3			—
Foreign currency option and forward contracts	—			—			(0.5		)	—
Nonderivatives designated as hedges:
Foreign currency denominated notes	(4.0		)	5.3			—			—
Total	$	(21.6	)	$	16.1		$	(0.2	)	$	—



	Recognized in Accumulated Other Comprehensive Income (Loss)						Recognized in Earnings
(In millions)	Nine Months Ended September 30, 2016			Nine Months Ended September 30, 2015			Nine Months Ended September 30, 2016		Nine Months Ended September 30, 2015
Derivatives designated as hedges:
Cross-currency swap agreements	$	(23.9	)	$	(20.4	)	$	—	$	—
Interest rate swaps	2.8			(1.4		)	—		—
Derivatives not designated as hedges:
Interest rate swaps	—			—			0.9		—
Foreign currency option and forward contracts	—			—			2.3		—
Nonderivatives designated as hedges:
Foreign currency denominated notes	(18.9		)	4.7			—		—
Total	$	(40.0	)	$	(17.1	)	$	3.2	$	—

Hedge of Net Investments in Foreign Operations

In connection with the issuance of the Senior Notes due 2022, the Company entered into certain cross-currency swap agreements to manage the related foreign currency exchange risk by effectively converting a portion of the fixed-rate USD-denominated Senior Notes due 2022, including the semi-annual interest payments, to fixed-rate, EUR-denominated debt. The risk management objective was to manage foreign currency risk relating to net investments in subsidiaries denominated in foreign currencies and reduce the variability in the functional currency equivalent cash flows of a portion of the Senior Notes due 2022. During the term of the swap contracts, the Company will receive semi-annual interest payments in June and December of each year from the counterparties based on USD fixed interest rates, and the Company will make semi-annual interest payments in June and December of each year to the counterparties based on EUR fixed interest rates. At maturity, the Company will repay the original principal amount in EUR and receive the principal amount in USD. The Company has designated the cross-currency swap agreements as qualifying hedging instruments and is accounting for these as net investment hedges. The gains and losses resulting from fair value adjustments to the cross-currency swap agreements are recorded in accumulated other comprehensive income/(loss) to the extent that the cross-currency swaps are effective in hedging the designated risk. The Company did not record any ineffectiveness for the three- and nine-month periods ended September 30, 2016. Cash flows related to the cross-currency swaps are included in operating activities on the consolidated statements of cash flows. The Company does not expect amounts that are currently deferred in accumulated other comprehensive income/(loss) to be reclassified to income over the next 12 months.

In addition to the cross-currency swaps, the Company uses foreign currency denominated notes as nonderivative hedging instruments of its net investments in foreign operations. The Company has designated $75.9 million of its Senior Notes due 2021 included in long-term debt on the condensed consolidated balance sheets as a net investment hedge of its investments in international subsidiaries that use the EUR as their functional currency. The gains and losses resulting from the exchange rate adjustments to the designated portion of the foreign currency denominated notes are recorded in accumulated other comprehensive income/loss to the extent that the foreign currency denominated notes are effective in hedging the designated risk. The Company did not record any ineffectiveness for the three- and nine-month periods ended September 30, 2016. The Company does not expect amounts that are currently deferred in accumulated other comprehensive income/(loss) to be reclassified to income over the next 12 months.

Interest Rate Hedging

In order to mitigate the variability in forecasted interest payments on the Company’s EUR-denominated asset financings that are based on benchmark interest rates (e.g., Euribor), the Company has entered into interest rate swaps. The objective is for the cash flows of the interest rate swaps to offset any changes in the cash flows of the forecasted interest payments attributable to changes in the benchmark interest rate. The interest rate swaps convert floating rate interest payments into fixed rate interest payments. The Company has designated the interest rate swaps as qualifying hedging instruments and is accounting for these as cash flow hedges of the forecasted obligations. The gains and losses resulting from fair value adjustments to the designated portion of the interest rate swaps are recorded in accumulated other comprehensive income/(loss) to the extent that the interest rate swaps are effective in hedging the designated risk. The gains and losses will be reclassified from accumulated other comprehensive income/(loss) to interest expense on the dates that interest payments accrue, or when the hedged item becomes probable not to occur. The Company is hedging its exposure to the variability in future cash flows for forecasted interest payments through December 2017. At September 30, 2016, a notional amount of $78.1 million of the Company's interest rate swaps were not designated as hedges. The gains and losses related to the interest rate swaps not designated as hedges are included in interest expense on the condensed consolidated statements of operations. Cash flows related to the interest rate swaps are included in operating activities on the condensed consolidated statements of cash flows. The Company expects an inconsequential amount that is currently deferred in accumulated other comprehensive income/(loss) to be reclassified to income during the year ended December 31, 2016.

Foreign Currency Option and Forward Contracts

In order to mitigate against the risk of a reduction in the value of foreign currency from the Company’s international operations with the EUR and GBP as the functional currency, the Company uses foreign currency option and forward contracts. The foreign currency contracts were not designated as qualifying hedging instruments as of September 30, 2016. The contracts are not speculative and are used to manage the Company’s exposure to foreign currency exchange rate fluctuations and other identified risks. The contracts expire in 12 months or less. Gains or losses on the contracts are recorded in other expense in the condensed consolidated statements of operations. Cash flows related to the foreign currency contracts are included in operating activities on the condensed consolidated statements of cash flows. The risk of loss associated with the option contracts is limited to the premium amounts payable.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 45
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-URI http://asc.fasb.org/extlink&oid=6441202&loc=d3e80720-113993

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 815
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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-URI http://asc.fasb.org/extlink&oid=35736893&loc=d3e80784-113994

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=56946850&loc=d3e41641-113959

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5579245-113959

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
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Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 4J
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5708773-113959

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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-Topic 815
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-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624181-113959

Reference 17: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 18: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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-URI http://asc.fasb.org/extlink&oid=56946850&loc=d3e41638-113959

Reference 19: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
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-Paragraph 1
-Subparagraph (SX 210.4-08.(n))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

+ Details

Variable Interest Entities

9 Months Ended

Sep. 30, 2016

Variable Interest Entities [Abstract]

Variable Interest Entities

The Company applies the guidance under ASC 810-10 for the determination of its Variable Interest Entities (“VIE”) and the accounting determination for consolidation. The determination to consolidate these entities is based on a 4-step analysis to first identify those entities in which the Company holds a variable interest. Upon the determination that the Company holds a variable interest in the entity, the Company evaluates the relevant criteria to determine if the entity meets the definition of a VIE. These criteria include evaluating whether the equity investment at risk is insufficient to finance the activities of the entity, the holders of the equity interest lack decision making rights, the equity investment at risk was established with non-substantive voting rights, the holders of the equity investment at risk lack the obligation to absorb losses, and the holders of the equity investment at risk lack the right to receive residual returns. Upon the determination that an entity meets the criteria of a VIE, an evaluation is made over controlling interest and the determination of the primary beneficiary.

Based on the analysis completed, the Company determined it had variable interests in certain VIEs and consolidates these entities because it has the power to direct the activities that significantly affect the VIEs' economic performance, including having operational control over each VIE and operating the VIEs under the XPO brand or policies. The VIEs provide logistics services for their customers. Investors in these entities only have recourse to the assets owned by the entity and not to the Company’s general credit. The Company does not have implicit support arrangements with any VIE. The assets and liabilities of the consolidated VIEs are outlined in the table below.



(In millions)	September 30, 2016		December 31, 2015
Assets
Cash and cash equivalents	$	15.9	$	14.3
Accounts receivable, net of allowance	69.9		54.7
Other current assets	4.9		3.8
Property and equipment, net of accumulated depreciation	3.4		4.8
Other long-term assets	2.7		3.0
Total	$	96.8	$	80.6

Liabilities
Accounts payable	$	46.6	$	44.9
Accrued expenses, other	15.2		8.1
Other current liabilities	9.8		8.9
Other long-term liabilities	9.1		5.2
Total	$	80.7	$	67.1

The following table summarizes total revenue and expenses in connection with the Company's consolidated VIEs. The Company did not have any VIEs prior to its June 2015 acquisition of ND.



	Three Months Ended September 30,				Nine Months Ended September 30,
(In millions)	2016		2015		2016		2015
Revenue	$	82.2	$	80.2	$	238.8	$	110.5
Operating expenses	$	79.1	$	77.6	$	230.1	$	107.0

Earnings (Loss) per Share

9 Months Ended

Sep. 30, 2016

Earnings Per Share [Abstract]

Earnings (Loss) per Share

Basic and diluted earnings (loss) per share are computed using the two-class method, which is an earnings allocation method that determines earnings (loss) per share for common shares and participating securities. The participating securities consist of the Company's Series A Convertible Perpetual Preferred Stock. The undistributed earnings are allocated between common shares and participating securities as if all earnings had been distributed during the period. In periods of loss, no allocation is made to the preferred shares. The dividend rights are defined in the Certificate of Designation of Series A Convertible Perpetual Preferred Stock of XPO Logistics, Inc. filed with the SEC on Form 8-K on September 6, 2011.



	Three Months Ended September 30,						Nine Months Ended September 30,
(In millions, except per share data)	2016			2015			2016			2015
Basic earnings (loss) per common share
Net income (loss) attributable to XPO	$	15.1		$	(40.4	)	$	39.2		$	(129.3	)
Preferred stock beneficial conversion charge	—			(52.0		)	—			(52.0		)
Cumulative preferred dividends	(0.7		)	(0.7		)	(2.2		)	(2.2		)
Non-cash allocation of undistributed earnings	(0.6		)	—			(1.2		)	—
Net income (loss) allocable to common shares, basic	$	13.8		$	(93.1	)	$	35.8		$	(183.5	)

Basic weighted-average common shares	110.3			98.6			110.0			87.3
Basic earnings (loss) per share	$	0.13		$	(0.94	)	$	0.33		$	(2.10	)

Diluted earnings (loss) per common share
Net income (loss) allocable to common shares, basic	$	13.8		$	(93.1	)	$	35.8		$	(183.5	)
Interest from Convertible Senior Notes	0.3			—			—			—
Net income (loss) allocable to common shares, diluted	$	14.1		$	(93.1	)	$	35.8		$	(183.5	)

Basic weighted-average common shares	110.3			98.6			110.0			87.3
Dilutive effect of non-participating stock-based awards and Convertible Senior Notes	12.6			—			9.2			—
Diluted weighted-average common shares	122.9			98.6			119.2			87.3

Diluted earnings (loss) per share	$	0.11		$	(0.94	)	$	0.30		$	(2.10	)

Dilutive potential common shares excluded	11.5			24.9			14.9			25.5

Certain shares were not included in the computation of diluted earnings per share because the effect was either anti-dilutive or in the case of unvested PRSU awards, the performance condition was not met as of September 30, 2016.

Segment Reporting

9 Months Ended

Sep. 30, 2016

Segment Reporting [Abstract]

Segment Reporting

The Company is organized into two reportable segments: Transportation and Logistics. Corporate and Eliminations constitute the remaining portions of the Company’s operating results required to be presented in order to reconcile the Company’s operating results to the condensed consolidated financial statements. The Transportation segment provides freight brokerage, last mile, expedite, intermodal, LTL, full truckload, managed transportation and global forwarding services. The Logistics segment provides a range of contract logistics services, including highly engineered and customized solutions, value-added warehousing and distribution and other inventory solutions.

The Company's Chief Executive Officer, who is chief operating decision maker ("CODM"), regularly reviews financial information at the reporting segment level in order to make decisions about resources to be allocated to the segments and to assess their performance. Segment results that are reported to the CODM include items directly attributable to a segment as well as those that can be allocated on a reasonable basis. Asset information by segment is not provided to the Company's CODM as the majority of our assets are managed at the corporate level.

Intercompany transactions have been eliminated in the consolidated balance sheets and results of operations. Intra-segment transactions have been eliminated in the reportable segment results of operations, whereas inter-segment transactions represent a reconciling item to consolidated results as shown below.

The Company evaluates performance based on the various financial measures of the respective business segments. The following schedule identifies selected financial data for the three- and nine-month periods ended September 30, 2016 and 2015, respectively:



(In millions)	Transportation		Logistics		Corporate			Eliminations			Total
Three Months Ended September 30, 2016
Revenue	$	2,409.1	$	1,347.0	$	—		$	(42.3	)	$	3,713.8
Operating income (loss)	125.4		75.3		(31.9		)	—			168.8
Depreciation and amortization	114.8		46.5		0.5			—			161.8

Three Months Ended September 30, 2015
Revenue	$	1,396.8	993.3		$	—		$	(28.0	)	$	2,362.1
Operating income (loss)	30.9		36.0		(22.8		)	—			44.1
Depreciation and amortization	54.8		46.9		0.4			—			102.1

Nine Months Ended September 30, 2016
Revenue	$	7,125.4	$	3,939.7	$	—		$	(122.3	)	$	10,942.8
Operating income (loss)	354.0		158.3		(110.8		)	—			401.5
Depreciation and amortization	341.9		142.2		1.3			—			485.4

Nine Months Ended September 30, 2015
Revenue	$	2,820.4	$	1,493.7	$	—		$	(33.1	)	$	4,281.0
Operating income (loss)	57.7		46.9		(95.2		)	—			9.4
Depreciation and amortization	103.6		87.2		1.1			—			191.9

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8971-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8595-108599

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8984-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 280
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Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599

+ Details

Basis of Presentation (Policies)

9 Months Ended

Sep. 30, 2016

Accounting Policies [Abstract]

Basis of Presentation

Fair Value Measurements


•	Level 1—Quoted prices for identical instruments in active markets;


•	Level 2—Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs are observable in active markets; and


•	Level 3—Valuations based on inputs that are unobservable, generally utilizing pricing models or other valuation techniques that reflect management’s judgment and estimates.

Estimated Fair Value of Financial Instruments

New Accounting Standards

Basis of Presentation (Tables)

9 Months Ended

Sep. 30, 2016

Accounting Policies [Abstract]

Schedule of Carrying Value and Estimated Fair Value of Financial Instruments

The following table summarizes the fair value hierarchy of cash equivalents assets:



	September 30, 2016
(In millions)	Carrying Value		Fair Value		Level 1		Level 2
Cash equivalents	$	143.7	$	143.7	$	29.2	$	114.5

	December 31, 2015
(In millions)	Carrying Value		Fair Value		Level 1		Level 2
Cash equivalents	$	83.2	$	83.2	$	9.1	$	74.1

Acquisitions and Divestitures (Tables)

9 Months Ended

Sep. 30, 2016

Business Acquisition [Line Items]

Business Acquisition Pro Forma Information



	Pro Forma Nine Months Ended
(Dollars in millions, except per share data)	September 30, 2015
Revenue	$	11,034.2
Operating income	$	220.7
Net loss	$	(118.1	)
Basic loss per share	$	(1.59	)
Diluted loss per share	$	(1.59	)

Con-Way

Business Acquisition [Line Items]

Schedule of Fair Value of Consideration Transferred



(Dollars in millions)
Cash consideration	$	2,706.6
Liability for equity award settlement	30.9
Portion of replacement equity awards attributable to pre-acquisition service	17.6
Cash acquired	(437.3		)
Total consideration	$	2,317.8

Recognized Identified Assets Acquired and Liabilities Assumed

The following table outlines the consideration transferred and purchase price allocation at the respective estimated fair values as of October 30, 2015:



(Dollars in millions)
Consideration	$	2,317.8
Accounts receivable	676.5
Other current assets	141.4
Property and equipment	1,864.3
Trade name	5.6
Customer relationships	641.0
Other long-term assets	53.5
Accounts payable	(367.6		)
Accrued expenses	(394.9		)
Other current liabilities	(27.5		)
Long-term debt	(640.6		)
Deferred tax liabilities	(603.9		)
Employee benefit obligations	(153.5		)
Other long-term liabilities	(202.9		)
Goodwill	$	1,326.4

Business Acquisition [Line Items]

Schedule of Fair Value of Consideration Transferred

The total consideration paid by XPO for ND is summarized in the table below in Euros ("EUR") and USD:



(In millions)	In EUR			In USD
Cash consideration	€	1,437.0		$	1,603.9
Liability for performance share settlement	11.8			13.2
Repayment of indebtedness	628.5			705.0
Noncontrolling interests	702.5			784.2
Cash acquired	(134.6		)	(151.0		)
Total consideration	€	2,645.2		$	2,955.3

Recognized Identified Assets Acquired and Liabilities Assumed

The following table outlines the consideration transferred and purchase price allocation at the respective estimated fair values as of June 8, 2015:



(In millions)
Consideration	$	2,955.3
Accounts receivable	1,058.5
Other current assets	353.6
Deferred tax assets	44.6
Property and equipment	706.1
Trade name covenants	40.0
Non-compete agreements	5.6
Customer relationships	827.0
Other long-term assets	57.1
Accounts payable	(806.0		)
Accrued expenses	(428.2		)
Other current liabilities	(131.8		)
Long-term debt	(643.4		)
Deferred tax liabilities	(237.7		)
Employee benefit obligations	(142.3		)
Other long-term liabilities	(177.2		)
Noncontrolling interests	(37.2		)
Goodwill	$	2,466.6

Restructuring Charges (Tables)

9 Months Ended

Sep. 30, 2016

Restructuring and Related Activities [Abstract]

Summary of Restructuring Reserve



			Nine months ended September 30, 2016
(In millions)	Reserve Balance at December 31, 2015		Charges Incurred		Payments			Reserve Balance at September 30, 2016
Transportation
Contract termination	$	0.1	$	—	$	—		$	0.1
Facilities	0.6		0.7		(0.8		)	0.5
Severance	26.7		5.1		(23.8		)	8.0
Total	27.4		5.8		(24.6		)	8.6
Logistics
Contract termination	0.8		0.4		(1.1		)	0.1
Severance	25.5		13.9		(19.5		)	19.9
Total	26.3		14.3		(20.6		)	20.0
Corporate
Contract termination	4.0		—		(2.6		)	1.4
Severance	3.5		0.3		(3.2		)	0.6
Total	7.5		0.3		(5.8		)	2.0
Total	$	61.2	$	20.4	$	(51.0	)	$	30.6

Property and Equipment (Tables)

9 Months Ended

Sep. 30, 2016

Property, Plant and Equipment [Abstract]

Summary of Property and Equipment

The following table outlines the Company’s property and equipment:



(In millions)	September 30, 2016			December 31, 2015
Property and Equipment
Land	$	391.4		$	359.5
Buildings and leasehold improvements	465.1			476.8
Vehicles, tractors, trailers and tankers	1,502.7			1,440.5
Machinery and equipment	347.0			325.9
Office and warehouse equipment	75.1			79.5
Computer software and equipment	473.7			379.3
	3,255.0			3,061.5
Less: Accumulated depreciation and amortization	(543.7		)	(209.3		)
Total Property and Equipment, net	$	2,711.3		$	2,852.2

Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Identifiable Intangible Assets

The following table outlines the Company’s identifiable intangible assets:



	September 30, 2016				December 31, 2015
(In millions)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Definite-lived intangibles
Customer relationships	$	1,864.4	$	290.3	$	2,017.0	$	174.3
Trade name	50.1		39.2		51.0		29.1
Non-compete agreements	16.2		9.8		18.7		6.8
Carrier relationships	12.1		12.1		12.1		12.1
Other intangible assets	2.2		2.2		2.2		2.2
	$	1,945.0	$	353.6	$	2,101.0	$	224.5

Estimated Useful Life Of Intangible Assets

The range of estimated useful lives and the weighted-average useful lives of the respective intangible assets by type are as follows:



Classification	Estimated Useful Life	Weighted-Average Amortization Period
Customer relationships	1.5 to 16 years	13.33 years
Trade names	1.2 to 3.5 years	2.86 years
Non-compete agreements	Term of agreement	4.60 years

Goodwill (Tables)

9 Months Ended

Sep. 30, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill



(In millions)	Transportation			Logistics			Total
Goodwill at December 31, 2015	$	2,504.7		$	2,105.9		$	4,610.6
Property and equipment and intangible asset fair value adjustments	178.9			41.5			220.4
Other fair value adjustments	50.1			(28.7		)	21.4
Impact of foreign exchange translation	0.5			(27.9		)	(27.4		)
Deferred tax and other tax adjustments	(63.1		)	(27.8		)	(90.9		)
Goodwill at September 30, 2016	$	2,671.1		$	2,063.0		$	4,734.1

Debt (Tables)

9 Months Ended

Sep. 30, 2016

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

The following table summarizes the carrying value and valuation of financial liabilities within the fair value hierarchy:



	September 30, 2016
					Fair Value
(In millions)	Principal Balance		Carrying Value		Level 1		Level 2
Financial Liabilities:
Senior Notes due 2023	$	535.0	$	526.8	$	551.1	$	—
Senior Notes due 2022	1,600.0		1,579.2		1,674.0		—
Senior Notes due 2021	558.1		551.1		586.0		—
Senior Notes due 2018	265.8		267.4		272.2		—
Term loan facility	2,016.5		1,955.2		—		2,035.4
Senior Debentures due 2034	300.0		200.4		236.3		—
Convertible senior notes	49.5		46.4		110.3		—
Euro private placement notes due 2020	13.4		14.6		—		14.7
Asset financing	92.9		92.9		92.9		—
Capital leases for equipment	63.3		63.3		—		63.3
Total long-term debt	$	5,494.5	$	5,297.3	$	3,522.8	$	2,113.4



	December 31, 2015
					Fair Value
(In millions)	Principal Balance		Carrying Value		Level 1		Level 2
Financial Liabilities:
Senior Notes due 2022	$	1,600.0	$	1,577.0	$	1,479.8	$	—
Senior Notes due 2021	544.5		536.6		—		507.5
Senior Notes due 2019	900.0		900.4		920.3		—
Senior Notes due 2018	265.8		268.2		—		271.0
Term loan facility	1,584.1		1,524.4		—		1,574.2
Senior Debentures due 2034	300.0		199.0		—		201.0
Convertible senior notes	52.3		46.8		89.1		—
Euro private placement notes due 2020	13.1		14.5		—		13.9
Asset financing	166.5		166.5		166.5		—
Capital leases for equipment	39.2		39.2		—		39.2
Total long-term debt	$	5,465.5	$	5,272.6	$	2,655.7	$	2,606.8

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=34725769&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

+ Details

Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Allocated Share-based Compensation Expense

The Company recognized the following stock-based compensation expense in direct operating expense and sales, general and administrative expense:



	Three Months Ended September 30,				Nine Months Ended September 30,
(In millions)	2016		2015		2016		2015
Stock options	$	0.3	$	0.3	$	1.0	$	1.6
Stock appreciation rights	0.4		—		0.4		—
Restricted stock units	2.7		0.8		10.2		3.0
Performance-based restricted stock units	1.3		1.6		5.4		15.0
Cash-settled performance-based restricted stock units	9.0		—		17.2		—
Warrants	—		—		—		8.5
Total stock-based compensation expense	$	13.7	$	2.7	$	34.2	$	28.1

Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments Measured at Fair Value in Statement of Financial Position



	September 30, 2016
				Derivative Assets			Derivative Liabilities
(In millions)	Fair Value Hierarchy Level	Notional Amount		Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivatives designated as hedges:
Cross-currency swap agreements	Level 2	$	734.4	Other long-term assets	$	0.3	Other long-term liabilities	$	(28.8	)
Interest rate swaps	Level 2	200.9		Other current assets	—		Other current liabilities	(3.5		)
Derivatives not designated as hedges:
Interest rate swaps	Level 2	78.1		Other current assets	—		Other current liabilities	(0.4		)
Foreign currency option and forward contracts	Level 2	212.7		Other current assets	2.0		Other current liabilities	(0.1		)
Total					$	2.3		$	(32.8	)



	December 31, 2015
				Derivative Assets			Derivative Liabilities
(In millions)	Fair Value Hierarchy Level	Notional Amount		Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivatives designated as hedges:
Cross-currency swap agreements	Level 2	$	730.9	Other long-term assets	$	0.2	Other long-term liabilities	$	—
Interest rate swaps	Level 2	228.6		Other current assets	—		Other current liabilities	(7.3		)
Derivatives not designated as hedges:
Interest rate swaps	Level 2	43.5		Other current assets	—		Other current liabilities	(0.7		)
Foreign currency option contracts	Level 2	235.2		Other current assets	—		Other current liabilities	(1.0		)
Total					$	0.2		$	(9.0	)

Schedule of Gains and Losses Recognized on the Balance Sheet for Derivative Instruments



	Recognized in Accumulated Other Comprehensive Income (Loss)						Recognized in Earnings
(In millions)	Three Months Ended September 30, 2016			Three Months Ended September 30, 2015			Three Months Ended September 30, 2016			Three Months Ended September 30, 2015
Derivatives designated as hedges:
Cross-currency swap agreements	$	(17.9	)	$	11.5		$	—		$	—
Interest rate swaps	0.3			(0.7		)	—			—
Derivatives not designated as hedges:
Interest rate swaps	—			—			0.3			—
Foreign currency option and forward contracts	—			—			(0.5		)	—
Nonderivatives designated as hedges:
Foreign currency denominated notes	(4.0		)	5.3			—			—
Total	$	(21.6	)	$	16.1		$	(0.2	)	$	—



	Recognized in Accumulated Other Comprehensive Income (Loss)						Recognized in Earnings
(In millions)	Nine Months Ended September 30, 2016			Nine Months Ended September 30, 2015			Nine Months Ended September 30, 2016		Nine Months Ended September 30, 2015
Derivatives designated as hedges:
Cross-currency swap agreements	$	(23.9	)	$	(20.4	)	$	—	$	—
Interest rate swaps	2.8			(1.4		)	—		—
Derivatives not designated as hedges:
Interest rate swaps	—			—			0.9		—
Foreign currency option and forward contracts	—			—			2.3		—
Nonderivatives designated as hedges:
Foreign currency denominated notes	(18.9		)	4.7			—		—
Total	$	(40.0	)	$	(17.1	)	$	3.2	$	—

Variable Interest Entities (Tables)

9 Months Ended

Sep. 30, 2016

Variable Interest Entities [Abstract]

Schedule of consolidated VIEs

The assets and liabilities of the consolidated VIEs are outlined in the table below.



(In millions)	September 30, 2016		December 31, 2015
Assets
Cash and cash equivalents	$	15.9	$	14.3
Accounts receivable, net of allowance	69.9		54.7
Other current assets	4.9		3.8
Property and equipment, net of accumulated depreciation	3.4		4.8
Other long-term assets	2.7		3.0
Total	$	96.8	$	80.6

Liabilities
Accounts payable	$	46.6	$	44.9
Accrued expenses, other	15.2		8.1
Other current liabilities	9.8		8.9
Other long-term liabilities	9.1		5.2
Total	$	80.7	$	67.1

The following table summarizes total revenue and expenses in connection with the Company's consolidated VIEs. The Company did not have any VIEs prior to its June 2015 acquisition of ND.



	Three Months Ended September 30,				Nine Months Ended September 30,
(In millions)	2016		2015		2016		2015
Revenue	$	82.2	$	80.2	$	238.8	$	110.5
Operating expenses	$	79.1	$	77.6	$	230.1	$	107.0

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

Earnings (Loss) per Share (Tables)

9 Months Ended

Sep. 30, 2016

Earnings Per Share [Abstract]

Schedule of earnings per share, basic and diluted



	Three Months Ended September 30,						Nine Months Ended September 30,
(In millions, except per share data)	2016			2015			2016			2015
Basic earnings (loss) per common share
Net income (loss) attributable to XPO	$	15.1		$	(40.4	)	$	39.2		$	(129.3	)
Preferred stock beneficial conversion charge	—			(52.0		)	—			(52.0		)
Cumulative preferred dividends	(0.7		)	(0.7		)	(2.2		)	(2.2		)
Non-cash allocation of undistributed earnings	(0.6		)	—			(1.2		)	—
Net income (loss) allocable to common shares, basic	$	13.8		$	(93.1	)	$	35.8		$	(183.5	)

Basic weighted-average common shares	110.3			98.6			110.0			87.3
Basic earnings (loss) per share	$	0.13		$	(0.94	)	$	0.33		$	(2.10	)

Diluted earnings (loss) per common share
Net income (loss) allocable to common shares, basic	$	13.8		$	(93.1	)	$	35.8		$	(183.5	)
Interest from Convertible Senior Notes	0.3			—			—			—
Net income (loss) allocable to common shares, diluted	$	14.1		$	(93.1	)	$	35.8		$	(183.5	)

Basic weighted-average common shares	110.3			98.6			110.0			87.3
Dilutive effect of non-participating stock-based awards and Convertible Senior Notes	12.6			—			9.2			—
Diluted weighted-average common shares	122.9			98.6			119.2			87.3

Diluted earnings (loss) per share	$	0.11		$	(0.94	)	$	0.30		$	(2.10	)

Dilutive potential common shares excluded	11.5			24.9			14.9			25.5

Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2016

Segment Reporting [Abstract]

Selected Financial Data for Each of Operating Segments

The following schedule identifies selected financial data for the three- and nine-month periods ended September 30, 2016 and 2015, respectively:



(In millions)	Transportation		Logistics		Corporate			Eliminations			Total
Three Months Ended September 30, 2016
Revenue	$	2,409.1	$	1,347.0	$	—		$	(42.3	)	$	3,713.8
Operating income (loss)	125.4		75.3		(31.9		)	—			168.8
Depreciation and amortization	114.8		46.5		0.5			—			161.8

Three Months Ended September 30, 2015
Revenue	$	1,396.8	993.3		$	—		$	(28.0	)	$	2,362.1
Operating income (loss)	30.9		36.0		(22.8		)	—			44.1
Depreciation and amortization	54.8		46.9		0.4			—			102.1

Nine Months Ended September 30, 2016
Revenue	$	7,125.4	$	3,939.7	$	—		$	(122.3	)	$	10,942.8
Operating income (loss)	354.0		158.3		(110.8		)	—			401.5
Depreciation and amortization	341.9		142.2		1.3			—			485.4

Nine Months Ended September 30, 2015
Revenue	$	2,820.4	$	1,493.7	$	—		$	(33.1	)	$	4,281.0
Operating income (loss)	57.7		46.9		(95.2		)	—			9.4
Depreciation and amortization	103.6		87.2		1.1			—			191.9

Organization - Additional Information (Details)	9 Months Ended
Organization - Additional Information (Details)	Sep. 30, 2016 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments (in segments)	2

Basis of Presentation - Estimated Fair Value of Financial Instruments (Details) - Cash equivalents - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Level 1
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Cash equivalents	$ 29.2	$ 9.1
Level 2
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Cash equivalents	114.5	74.1
Carrying Value
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Cash equivalents	143.7	83.2
Fair Value
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Cash equivalents	$ 143.7	$ 83.2

Acquisitions and Divestitures - Con-way Inc. - Additional Information (Details) $ / shares in Units, employee in Thousands, customer in Thousands, $ in Millions	Oct. 30, 2015 USD ($) $ / shares	Sep. 09, 2015 USD ($) employee Location customer	Sep. 30, 2016 USD ($) $ / shares	Dec. 31, 2015 USD ($) $ / shares
Business Acquisition [Line Items]
Common stock, par value (in dollars per share) \| $ / shares			$ 0.001	$ 0.001
Goodwill			$ 4,734.1	$ 4,610.6
Transportation
Business Acquisition [Line Items]
Goodwill			2,671.1	2,504.7
Logistics
Business Acquisition [Line Items]
Goodwill			$ 2,063.0	$ 2,105.9
Con-Way
Business Acquisition [Line Items]
Number of locations where the entity operates (in locations) \| Location		582
Number of employees (in employees) \| employee		30
Number of customers (over) (in customers) \| customer		36
Consideration	$ 2,317.8
Cash acquired	437.3
Cash consideration	$ 2,706.6
Common stock, par value (in dollars per share) \| $ / shares	$ 0.625
Portion of replacement equity awards attributable to pre-acquisition service	$ 17.6
Liability for performance share settlement	30.9
Goodwill	$ 1,326.4
Con-Way \| Transportation
Business Acquisition [Line Items]
Goodwill		$ 1,076.1
Con-Way \| Logistics
Business Acquisition [Line Items]
Goodwill		$ 250.3

Acquisitions and Divestitures - Consideration (Details) € in Millions, $ in Millions	Jun. 25, 2016 USD ($)	Jun. 25, 2016 EUR (€)	Oct. 30, 2015 USD ($)	Jun. 08, 2015 USD ($)	Jun. 08, 2015 EUR (€)
Con-Way
Business Acquisition [Line Items]
Cash consideration			$ 2,706.6
Liability for performance share settlement			30.9
Portion of replacement equity awards attributable to pre-acquisition service			17.6
Cash acquired			(437.3)
Total consideration			$ 2,317.8
ND
Business Acquisition [Line Items]
Cash consideration				$ 1,603.9	€ 1,437.0
Liability for performance share settlement				13.2	11.8
Repayment of indebtedness				705.0	628.5
Noncontrolling interests	$ 784.2	€ 702.5		784.2	702.5
Cash acquired				(151.0)	(134.6)
Total consideration				$ 2,955.3	€ 2,645.2

Acquisitions and Divestitures - Recognized Identified Assets Acquired and Liabilities Assumed (Details) € in Millions, $ in Millions	Oct. 30, 2015 USD ($)	Jun. 08, 2015 USD ($)	Jun. 08, 2015 EUR (€)	Sep. 30, 2016 USD ($)	Dec. 31, 2015 USD ($)
Business Acquisition [Line Items]
Goodwill				$ 4,734.1	$ 4,610.6
Con-Way
Business Acquisition [Line Items]
Consideration	$ 2,317.8
Accounts receivable	676.5
Other current assets	141.4
Property and equipment	1,864.3
Other long-term assets	53.5
Accounts payable	(367.6)
Accrued expenses	(394.9)
Other current liabilities	(27.5)
Long-term debt	(640.6)
Deferred tax liabilities	(603.9)
Employee benefit obligations	(153.5)
Other long-term liabilities	(202.9)
Goodwill	1,326.4
Con-Way \| Trade name
Business Acquisition [Line Items]
Fair value of intangible assets	5.6
Con-Way \| Customer relationships
Business Acquisition [Line Items]
Fair value of intangible assets	$ 641.0
ND
Business Acquisition [Line Items]
Consideration		$ 2,955.3	€ 2,645.2
Accounts receivable		1,058.5
Other current assets		353.6
Deferred tax assets		44.6
Property and equipment		706.1
Other long-term assets		57.1
Accounts payable		(806.0)
Accrued expenses		(428.2)
Other current liabilities		(131.8)
Long-term debt		(643.4)
Deferred tax liabilities		(237.7)
Employee benefit obligations		(142.3)
Other long-term liabilities		(177.2)
Noncontrolling interests		(37.2)
Goodwill		2,466.6
ND \| Trade name covenants
Business Acquisition [Line Items]
Fair value of intangible assets		40.0
ND \| Non-compete agreements
Business Acquisition [Line Items]
Fair value of intangible assets		5.6
ND \| Customer relationships
Business Acquisition [Line Items]
Fair value of intangible assets		$ 827.0

Acquisitions and Divestitures - Norbert Dentressangle SA - Additional Information (Details) € in Millions, $ in Millions	Jun. 25, 2016 USD ($)	Jun. 25, 2016 EUR (€)	Jun. 08, 2015 USD ($)	Jun. 08, 2015 EUR (€)	Sep. 30, 2016 USD ($) shares	Dec. 31, 2015 USD ($)
Business Acquisition [Line Items]
Goodwill					$ 4,734.1	$ 4,610.6
Transportation
Business Acquisition [Line Items]
Goodwill					2,671.1	2,504.7
Logistics
Business Acquisition [Line Items]
Goodwill					$ 2,063.0	$ 2,105.9
ND
Business Acquisition [Line Items]
Percentage of common stock acquired			67.00%		86.25%
Cash consideration			$ 1,603.9	€ 1,437.0
Liability for performance share settlement			13.2	11.8
Repayment of indebtedness			705.0	628.5
Number of shares purchased under the Tender Offer (shares) \| shares					1,921,553
Noncontrolling interests	$ 784.2	€ 702.5	784.2	€ 702.5
Goodwill			2,466.6
ND \| Transportation
Business Acquisition [Line Items]
Goodwill			962.4
ND \| Logistics
Business Acquisition [Line Items]
Goodwill			$ 1,504.2
ND \| Performance Stock Award \| First payment
Business Acquisition [Line Items]
Percentage of awards paid			50.00%
Period before payment (in months)			18 months	18 months
ND \| Performance Stock Award \| Second payment
Business Acquisition [Line Items]
Percentage of awards paid			50.00%
Period before payment (in months)			36 months	36 months

Acquisitions and Divestitures - Bridge Terminal Transport - Additional Information (Details) - USD ($) $ in Millions		9 Months Ended
	May 04, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Business Acquisition [Line Items]
Acquisition of businesses, net of cash acquired		$ 0.0	$ 1,609.8
Business combination, consideration transferred, shares of stock		0.0	$ 1.5
Goodwill		$ 4,734.1		$ 4,610.6
BTT
Business Acquisition [Line Items]
Consideration	$ 103.8
Acquisition of businesses, net of cash acquired	103.1
Business combination, consideration transferred, shares of stock	0.7
Goodwill	56.5
Fair value of intangible assets	$ 30.0

Acquisitions and Divestitures - UX Specialized Logistics - Additional Information (Details) - USD ($) $ in Millions		9 Months Ended
	Feb. 09, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Business Acquisition [Line Items]
Acquisition of businesses, net of cash acquired		$ 0.0	$ 1,609.8
Business combination, consideration transferred, shares of stock		0.0	$ 1.5
Goodwill		$ 4,734.1		$ 4,610.6
UX Specialized Logistics
Business Acquisition [Line Items]
Consideration	$ 58.9
Acquisition of businesses, net of cash acquired	58.1
Business combination, consideration transferred, shares of stock	0.8
Goodwill	38.1
Intangible assets acquired	$ 18.8

Acquisitions and Divestitures - Business Acquisition Pro Forma Information (Details) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2015 USD ($) $ / shares
Business Combinations [Abstract]
Revenue	$ 11,034.2
Operating income	220.7
Net loss	$ (118.1)
Basic loss per share (in dollars per share) \| $ / shares	$ (1.59)
Diluted loss per share (in dollars per share) \| $ / shares	$ (1.59)

Acquisitions and Divestitures - Divestitures - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Nov. 03, 2016	Oct. 27, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on extinguishment of debt		$ 53.2	$ 0.0	$ 53.2	$ 0.0
Scenario, Forecast
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on extinguishment of debt	$ 16.5
Subsequent Event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Debt repurchase amount						$ 555.0
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| North American Truckload Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal group, revenue				360.5
Disposal group, operating income				$ 29.8
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| North American Truckload Operations \| Subsequent Event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration for disposal							$ 558.0

Restructuring Charges - Summary of Restructuring Reserve (Details) $ in Millions	9 Months Ended
	Sep. 30, 2016 USD ($)
Restructuring Reserve [Roll Forward]
Beginning balance	$ 61.2
Charges Incurred	20.4
Payments	(51.0)
Ending balance	30.6
Operating Segments \| Transportation
Restructuring Reserve [Roll Forward]
Beginning balance	27.4
Charges Incurred	5.8
Payments	(24.6)
Ending balance	8.6
Operating Segments \| Transportation \| Contract termination
Restructuring Reserve [Roll Forward]
Beginning balance	0.1
Charges Incurred	0.0
Payments	0.0
Ending balance	0.1
Operating Segments \| Transportation \| Facilities
Restructuring Reserve [Roll Forward]
Beginning balance	0.6
Charges Incurred	0.7
Payments	(0.8)
Ending balance	0.5
Operating Segments \| Transportation \| Severance
Restructuring Reserve [Roll Forward]
Beginning balance	26.7
Charges Incurred	5.1
Payments	(23.8)
Ending balance	8.0
Operating Segments \| Logistics
Restructuring Reserve [Roll Forward]
Beginning balance	26.3
Charges Incurred	14.3
Payments	(20.6)
Ending balance	20.0
Operating Segments \| Logistics \| Contract termination
Restructuring Reserve [Roll Forward]
Beginning balance	0.8
Charges Incurred	0.4
Payments	(1.1)
Ending balance	0.1
Operating Segments \| Logistics \| Severance
Restructuring Reserve [Roll Forward]
Beginning balance	25.5
Charges Incurred	13.9
Payments	(19.5)
Ending balance	19.9
Corporate
Restructuring Reserve [Roll Forward]
Beginning balance	7.5
Charges Incurred	0.3
Payments	(5.8)
Ending balance	2.0
Corporate \| Contract termination
Restructuring Reserve [Roll Forward]
Beginning balance	4.0
Charges Incurred	0.0
Payments	(2.6)
Ending balance	1.4
Corporate \| Severance
Restructuring Reserve [Roll Forward]
Beginning balance	3.5
Charges Incurred	0.3
Payments	(3.2)
Ending balance	$ 0.6

Contingencies - Additional Information (Details) - Pacer International $ in Millions			1 Months Ended	9 Months Ended	12 Months Ended
	Apr. 29, 2016 claimant	Jul. 17, 2015 USD ($)	Sep. 30, 2015 USD ($) claimant	Sep. 30, 2016 claimant class_action operator	Dec. 31, 2014 claimant	Dec. 31, 2012 operator
Loss Contingencies [Line Items]
Number of owner operators (in operators) \| operator				150		150
Number of claims heard by court (in claimants)			5	200	7
Amount claimed \| $		$ 2.9	$ 0.9
Number of class actions related to remaining claimants (in class actions) \| class_action				3
Maximum
Loss Contingencies [Line Items]
Number of claims heard by court (in claimants)	520

Property and Equipment - Summary of Property and Equipment (Details) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Property and Equipment	$ 3,255.0	$ 3,061.5
Less: Accumulated depreciation and amortization	(543.7)	(209.3)
Total Property and Equipment, net	2,711.3	2,852.2
Land
Property, Plant and Equipment [Line Items]
Property and Equipment	391.4	359.5
Buildings and leasehold improvements
Property, Plant and Equipment [Line Items]
Property and Equipment	465.1	476.8
Vehicles, tractors, trailers and tankers
Property, Plant and Equipment [Line Items]
Property and Equipment	1,502.7	1,440.5
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property and Equipment	347.0	325.9
Office and warehouse equipment
Property, Plant and Equipment [Line Items]
Property and Equipment	75.1	79.5
Computer software and equipment
Property, Plant and Equipment [Line Items]
Property and Equipment	$ 473.7	$ 379.3

Property and Equipment - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Depreciation	$ 117.5	$ 56.5	$ 353.0	$ 98.8
Net book value of capitalized internally-developed software	2,711.3		2,711.3		$ 2,852.2
Software Development
Property, Plant and Equipment [Line Items]
Net book value of capitalized internally-developed software	$ 138.2		$ 138.2		$ 122.8

Intangible Assets - Schedule of Identifiable Intangible Assets (Details) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 1,945.0	$ 2,101.0
Accumulated Amortization	353.6	224.5
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,864.4	2,017.0
Accumulated Amortization	290.3	174.3
Trade name
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	50.1	51.0
Accumulated Amortization	39.2	29.1
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	16.2	18.7
Accumulated Amortization	9.8	6.8
Carrier relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	12.1	12.1
Accumulated Amortization	12.1	12.1
Other intangible assets
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	2.2	2.2
Accumulated Amortization	$ 2.2	$ 2.2

Intangible Assets - Schedule of Estimated Lives Of Intangible Assets (Details)	9 Months Ended
	Sep. 30, 2016
Customer relationships \| Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life	1 year 6 months
Customer relationships \| Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life	16 years
Customer relationships \| Weighted-Average
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Amortization Period	13 years 4 months
Trade names \| Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life	1 year 2 months 12 days
Trade names \| Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life	3 years 6 months
Trade names \| Weighted-Average
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Amortization Period	2 years 10 months 10 days
Non-compete agreements \| Weighted-Average
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Amortization Period	4 years 7 months 6 days

Intangible Assets - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Sales, general and administrative expense	$ 44.1	$ 45.5	$ 130.2	$ 93.1

Goodwill - Schedule of Goodwill (Details) $ in Millions	9 Months Ended
Goodwill - Schedule of Goodwill (Details) $ in Millions	Sep. 30, 2016 USD ($)
Goodwill [Roll Forward]
Goodwill at beginning of period	$ 4,610.6
Property and equipment and intangible asset fair value adjustments	220.4
Other fair value adjustments	21.4
Impact of foreign exchange translation	(27.4)
Deferred tax and other tax adjustments	(90.9)
Goodwill at end of period	4,734.1
Transportation
Goodwill [Roll Forward]
Goodwill at beginning of period	2,504.7
Property and equipment and intangible asset fair value adjustments	178.9
Other fair value adjustments	50.1
Impact of foreign exchange translation	0.5
Deferred tax and other tax adjustments	(63.1)
Goodwill at end of period	2,671.1
Logistics
Goodwill [Roll Forward]
Goodwill at beginning of period	2,105.9
Property and equipment and intangible asset fair value adjustments	41.5
Other fair value adjustments	(28.7)
Impact of foreign exchange translation	(27.9)
Deferred tax and other tax adjustments	(27.8)
Goodwill at end of period	$ 2,063.0

Debt (Details) - Long-term debt - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Total long-term debt	$ 5,494.5	$ 5,465.5
Convertible senior notes
Debt Instrument [Line Items]
Total long-term debt	49.5	52.3
Capital leases for equipment
Debt Instrument [Line Items]
Total long-term debt	63.3	39.2
Senior Notes due 2023
Debt Instrument [Line Items]
Total long-term debt	535.0
Senior Notes due 2022
Debt Instrument [Line Items]
Total long-term debt	1,600.0	1,600.0
Senior Notes due 2021
Debt Instrument [Line Items]
Total long-term debt	558.1	544.5
Senior Notes due 2019
Debt Instrument [Line Items]
Total long-term debt		900.0
Senior Notes due 2018
Debt Instrument [Line Items]
Total long-term debt	265.8	265.8
Term loan facility
Debt Instrument [Line Items]
Total long-term debt	2,016.5	1,584.1
Senior Debentures due 2034
Debt Instrument [Line Items]
Total long-term debt	300.0	300.0
Euro private placement notes due 2020
Debt Instrument [Line Items]
Total long-term debt	13.4	13.1
Asset financing
Debt Instrument [Line Items]
Total long-term debt	92.9	166.5
Carrying Value
Debt Instrument [Line Items]
Long-term debt, fair value	5,297.3	5,272.6
Carrying Value \| Convertible senior notes
Debt Instrument [Line Items]
Long-term debt, fair value	46.4	46.8
Carrying Value \| Capital leases for equipment
Debt Instrument [Line Items]
Long-term debt, fair value	63.3	39.2
Carrying Value \| Senior Notes due 2023
Debt Instrument [Line Items]
Long-term debt, fair value	526.8
Carrying Value \| Senior Notes due 2022
Debt Instrument [Line Items]
Long-term debt, fair value	1,579.2	1,577.0
Carrying Value \| Senior Notes due 2021
Debt Instrument [Line Items]
Long-term debt, fair value	551.1	536.6
Carrying Value \| Senior Notes due 2019
Debt Instrument [Line Items]
Long-term debt, fair value		900.4
Carrying Value \| Senior Notes due 2018
Debt Instrument [Line Items]
Long-term debt, fair value	267.4	268.2
Carrying Value \| Term loan facility
Debt Instrument [Line Items]
Long-term debt, fair value	1,955.2	1,524.4
Carrying Value \| Senior Debentures due 2034
Debt Instrument [Line Items]
Long-term debt, fair value	200.4	199.0
Carrying Value \| Euro private placement notes due 2020
Debt Instrument [Line Items]
Long-term debt, fair value	14.6	14.5
Carrying Value \| Asset financing
Debt Instrument [Line Items]
Long-term debt, fair value	92.9	166.5
Level 1
Debt Instrument [Line Items]
Long-term debt, fair value	3,522.8	2,655.7
Level 1 \| Convertible senior notes
Debt Instrument [Line Items]
Long-term debt, fair value	110.3	89.1
Level 1 \| Capital leases for equipment
Debt Instrument [Line Items]
Long-term debt, fair value	0.0	0.0
Level 1 \| Senior Notes due 2023
Debt Instrument [Line Items]
Long-term debt, fair value	551.1
Level 1 \| Senior Notes due 2022
Debt Instrument [Line Items]
Long-term debt, fair value	1,674.0	1,479.8
Level 1 \| Senior Notes due 2021
Debt Instrument [Line Items]
Long-term debt, fair value	586.0	0.0
Level 1 \| Senior Notes due 2019
Debt Instrument [Line Items]
Long-term debt, fair value		920.3
Level 1 \| Senior Notes due 2018
Debt Instrument [Line Items]
Long-term debt, fair value	272.2	0.0
Level 1 \| Term loan facility
Debt Instrument [Line Items]
Long-term debt, fair value	0.0	0.0
Level 1 \| Senior Debentures due 2034
Debt Instrument [Line Items]
Long-term debt, fair value	236.3	0.0
Level 1 \| Euro private placement notes due 2020
Debt Instrument [Line Items]
Long-term debt, fair value	0.0	0.0
Level 1 \| Asset financing
Debt Instrument [Line Items]
Long-term debt, fair value	92.9	166.5
Level 2
Debt Instrument [Line Items]
Long-term debt, fair value	2,113.4	2,606.8
Level 2 \| Convertible senior notes
Debt Instrument [Line Items]
Long-term debt, fair value	0.0	0.0
Level 2 \| Capital leases for equipment
Debt Instrument [Line Items]
Long-term debt, fair value	63.3	39.2
Level 2 \| Senior Notes due 2023
Debt Instrument [Line Items]
Long-term debt, fair value	0.0
Level 2 \| Senior Notes due 2022
Debt Instrument [Line Items]
Long-term debt, fair value	0.0	0.0
Level 2 \| Senior Notes due 2021
Debt Instrument [Line Items]
Long-term debt, fair value	0.0	507.5
Level 2 \| Senior Notes due 2019
Debt Instrument [Line Items]
Long-term debt, fair value		0.0
Level 2 \| Senior Notes due 2018
Debt Instrument [Line Items]
Long-term debt, fair value	0.0	271.0
Level 2 \| Term loan facility
Debt Instrument [Line Items]
Long-term debt, fair value	2,035.4	1,574.2
Level 2 \| Senior Debentures due 2034
Debt Instrument [Line Items]
Long-term debt, fair value	0.0	201.0
Level 2 \| Euro private placement notes due 2020
Debt Instrument [Line Items]
Long-term debt, fair value	14.7	13.9
Level 2 \| Asset financing
Debt Instrument [Line Items]
Long-term debt, fair value	$ 0.0	$ 0.0

Debt - Additional Information (Details) - USD ($)				3 Months Ended		9 Months Ended
Debt - Additional Information (Details) - USD ($)	Sep. 12, 2016	Aug. 25, 2016	Oct. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Aug. 24, 2016
Debt Instrument [Line Items]
Debt extinguishment costs				$ (53,200,000)	$ 0	$ (53,200,000)	$ 0
Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate		2.25%	3.50%
London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate		3.25%	4.50%
Term loan facility
Debt Instrument [Line Items]
Long-term debt								$ 1,592,000,000
Debt extinguishment costs		$ (18,000,000)
Incremental Term B-1 Loans
Debt Instrument [Line Items]
Face amount		400,000,000
Incremental Term B-2 Loans
Debt Instrument [Line Items]
Face amount		50,000,000
Debt issuance costs				18,900,000		18,900,000
Senior Notes due 2019
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	7.875%
Debt extinguishment costs		(35,200,000)
Redemption price, percentage	103.938%
Senior Notes \| Senior Notes due 2023
Debt Instrument [Line Items]
Face amount		$ 535,000,000.0
Debt instrument, interest rate, stated percentage		6.125%
Senior Notes \| Senior Notes due 2023 \| Long-term Debt
Debt Instrument [Line Items]
Debt issuance costs				$ 8,400,000		$ 8,400,000

Stock-Based Compensation - Schedule of Stock-based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 13.7	$ 2.7	$ 34.2	$ 28.1
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	0.3	0.3	1.0	1.6
Stock appreciation rights
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	0.4	0.0	0.4	0.0
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	2.7	0.8	10.2	3.0
Performance-based restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	1.3	1.6	5.4	15.0
Cash-settled performance-based restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	9.0	0.0	17.2	0.0
Warrants
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 0.0	$ 0.0	$ 0.0	$ 8.5

Stock-Based Compensation - Additional Information (Details) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2016 USD ($) $ / shares shares
Restricted Stock Units and Performance-based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	$ 31.5
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost, period for recognition	3 years
Cash-settled performance-based restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
Unrecognized compensation cost	$ 74.7
Unrecognized compensation cost, period for recognition	3 years 3 months
Annual vesting percentage	25.00%
Awards outstanding (in shares) \| shares	2,508,727
Granted (in dollars per share) \| $ / shares	$ 22.92
Accrued liabilities for awards	$ 17.2
Award weighted average fair value (in dollars per share) \| $ / shares	$ 36.67

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Income tax provision (benefit)	$ 2.7	$ 1.9	$ 20.0	$ (21.3)
Effective income tax rate, continuing operations (as a percent)	11.30%	(5.70%)	27.60%	14.20%
Statutory tax rate	35.00%	35.00%	35.00%	35.00%
Valuation allowance on deferred tax assets	$ 73.3		$ 73.3

Derivative Instruments - Schedule of Derivative Instruments Measured at Fair Value in Statement of Financial Position (Details) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Derivatives, Fair Value [Line Items]
Notional Amount
Derivative Assets	2.3	$ 0.2
Derivative Liabilities	(32.8)	(9.0)
Level 2 \| Derivatives designated as hedges: \| Cross-currency swap agreements
Derivatives, Fair Value [Line Items]
Notional Amount	734.4	730.9
Level 2 \| Derivatives designated as hedges: \| Cross-currency swap agreements \| Other long-term assets
Derivatives, Fair Value [Line Items]
Derivative Assets	0.3	0.2
Level 2 \| Derivatives designated as hedges: \| Cross-currency swap agreements \| Other long-term liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities	(28.8)	0.0
Level 2 \| Derivatives designated as hedges: \| Interest rate swaps
Derivatives, Fair Value [Line Items]
Notional Amount	200.9	228.6
Level 2 \| Derivatives designated as hedges: \| Interest rate swaps \| Other current assets
Derivatives, Fair Value [Line Items]
Derivative Assets	0.0	0.0
Level 2 \| Derivatives designated as hedges: \| Interest rate swaps \| Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities	(3.5)	(7.3)
Level 2 \| Derivatives not designated as hedges: \| Interest rate swaps
Derivatives, Fair Value [Line Items]
Notional Amount	78.1	43.5
Level 2 \| Derivatives not designated as hedges: \| Interest rate swaps \| Other current assets
Derivatives, Fair Value [Line Items]
Derivative Assets	0.0	0.0
Level 2 \| Derivatives not designated as hedges: \| Interest rate swaps \| Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities	(0.4)	(0.7)
Level 2 \| Derivatives not designated as hedges: \| Foreign currency option and forward contracts
Derivatives, Fair Value [Line Items]
Notional Amount	212.7
Level 2 \| Derivatives not designated as hedges: \| Foreign currency option and forward contracts \| Other current assets
Derivatives, Fair Value [Line Items]
Derivative Assets	2.0
Level 2 \| Derivatives not designated as hedges: \| Foreign currency option and forward contracts \| Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities	$ (0.1)
Level 2 \| Derivatives not designated as hedges: \| Foreign currency option contracts
Derivatives, Fair Value [Line Items]
Notional Amount		235.2
Level 2 \| Derivatives not designated as hedges: \| Foreign currency option contracts \| Other current assets
Derivatives, Fair Value [Line Items]
Derivative Assets		0.0
Level 2 \| Derivatives not designated as hedges: \| Foreign currency option contracts \| Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities		$ (1.0)

Derivative Instruments - Schedule of Gains and Losses Recognized on the Balance Sheet for Derivative Instruments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in Accumulated Other Comprehensive Income (Loss)	$ (21.6)	$ 16.1	$ (40.0)	$ (17.1)
Recognized in Earnings	(0.2)	0.0	3.2	0.0
Cross-currency swap agreements \| Derivatives designated as hedges:
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in Accumulated Other Comprehensive Income (Loss)	(17.9)	11.5	(23.9)	(20.4)
Recognized in Earnings	0.0	0.0	0.0	0.0
Interest rate swaps \| Derivatives designated as hedges:
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in Accumulated Other Comprehensive Income (Loss)	0.3	(0.7)	2.8	(1.4)
Recognized in Earnings	0.0	0.0	0.0	0.0
Interest rate swaps \| Derivatives not designated as hedges:
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in Accumulated Other Comprehensive Income (Loss)	0.0	0.0	0.0	0.0
Recognized in Earnings	0.3	0.0	0.9	0.0
Foreign currency option and forward contracts \| Derivatives not designated as hedges:
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in Accumulated Other Comprehensive Income (Loss)	0.0	0.0	0.0	0.0
Recognized in Earnings	(0.5)	0.0	2.3	0.0
Foreign currency denominated notes \| Derivatives designated as hedges:
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in Accumulated Other Comprehensive Income (Loss)	(4.0)	5.3	(18.9)	4.7
Recognized in Earnings	$ 0.0	$ 0.0	$ 0.0	$ 0.0

Derivative Instruments - Additional Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Derivative [Line Items]
Notional amount
Cross-currency swap agreements \| Derivatives designated as hedges: \| Level 2
Derivative [Line Items]
Notional amount	734.4	$ 730.9
Cross-currency swap agreements \| Net Investment Hedging \| Derivatives designated as hedges:
Derivative [Line Items]
Nonderivatives designated as hedges, notional amount	75.9
Interest rate swaps \| Derivatives designated as hedges: \| Level 2
Derivative [Line Items]
Notional amount	200.9	228.6
Interest rate swaps \| Derivatives not designated as hedges: \| Level 2
Derivative [Line Items]
Notional amount	$ 78.1	$ 43.5

Variable Interest Entities (Details) - Variable Interest Entity, Primary Beneficiary - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Variable Interest Entity [Line Items]
Assets	$ 96.8		$ 96.8		$ 80.6
Liabilities	80.7		80.7		67.1
Revenues	82.2	$ 80.2	238.8	$ 110.5
Operating expenses
Variable Interest Entity [Line Items]
Expenses	79.1	$ 77.6	230.1	$ 107.0
Cash and Cash Equivalents
Variable Interest Entity [Line Items]
Assets	15.9		15.9		14.3
Accounts receivable, net of allowance
Variable Interest Entity [Line Items]
Assets	69.9		69.9		54.7
Other current assets
Variable Interest Entity [Line Items]
Assets	4.9		4.9		3.8
Property and equipment, net of accumulated depreciation
Variable Interest Entity [Line Items]
Assets	3.4		3.4		4.8
Other long-term assets
Variable Interest Entity [Line Items]
Assets	2.7		2.7		3.0
Accounts payable
Variable Interest Entity [Line Items]
Liabilities	46.6		46.6		44.9
Accrued expenses, other
Variable Interest Entity [Line Items]
Liabilities	15.2		15.2		8.1
Other current liabilities
Variable Interest Entity [Line Items]
Liabilities	9.8		9.8		8.9
Other long-term liabilities
Variable Interest Entity [Line Items]
Liabilities	$ 9.1		$ 9.1		$ 5.2

Earnings (Loss) per Share - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Basic earnings (loss) per common share
Net income (loss) attributable to XPO	$ 15.1	$ (40.4)	$ 39.2	$ (129.3)
Preferred stock beneficial conversion charge	0.0	(52.0)	0.0	(52.0)
Cumulative preferred dividends	(0.7)	(0.7)	(2.2)	(2.2)
Non-cash allocation of undistributed earnings	(0.6)	0.0	(1.2)	0.0
Net income (loss) allocable to common shares, basic	$ 13.8	$ (93.1)	$ 35.8	$ (183.5)
Basic weighted-average common shares (in shares)	110.3	98.6	110.0	87.3
Basic earnings (loss) per share (in dollars per share)	$ 0.13	$ (0.94)	$ 0.33	$ (2.10)
Diluted earnings (loss) per common share
Net income (loss) allocable to common shares, basic	$ 13.8	$ (93.1)	$ 35.8	$ (183.5)
Interest from Convertible Senior Notes	0.3	0.0	0.0	0.0
Net income (loss) allocable to common shares, diluted	$ 14.1	$ (93.1)	$ 35.8	$ (183.5)
Basic weighted-average common shares (in shares)	110.3	98.6	110.0	87.3
Dilutive effect of non-participating stock-based awards and Convertible Senior Notes (in shares)	12.6	0.0	9.2	0.0
Diluted weighted-average common shares (in shares)	122.9	98.6	119.2	87.3
Diluted earnings (loss) per share (in dollars per share)	$ 0.11	$ (0.94)	$ 0.30	$ (2.10)
Diluted potential common shares excluded (in shares)	11.5	24.9	14.9	25.5

Segment Reporting - Additional Information (Details)	9 Months Ended
Segment Reporting - Additional Information (Details)	Sep. 30, 2016 segment
Segment Reporting [Abstract]
Number of reportable segments (in segments)	2

Segment Reporting - Selected Financial Data for Each of Operating Segments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Segment Reporting Information [Line Items]
Revenue	$ 3,713.8	$ 2,362.1	$ 10,942.8	$ 4,281.0
Operating income (loss)	168.8	44.1	401.5	9.4
Depreciation and amortization	161.8	102.1	485.4	191.9
Operating Segments \| Transportation
Segment Reporting Information [Line Items]
Revenue	2,409.1	1,396.8	7,125.4	2,820.4
Operating income (loss)	125.4	30.9	354.0	57.7
Depreciation and amortization	114.8	54.8	341.9	103.6
Operating Segments \| Logistics
Segment Reporting Information [Line Items]
Revenue	1,347.0	993.3	3,939.7	1,493.7
Operating income (loss)	75.3	36.0	158.3	46.9
Depreciation and amortization	46.5	46.9	142.2	87.2
Corporate
Segment Reporting Information [Line Items]
Revenue	0.0	0.0	0.0	0.0
Operating income (loss)	(31.9)	(22.8)	(110.8)	(95.2)
Depreciation and amortization	0.5	0.4	1.3	1.1
Eliminations
Segment Reporting Information [Line Items]
Revenue	(42.3)	(28.0)	(122.3)	(33.1)
Operating income (loss)	0.0	0.0	0.0	0.0
Depreciation and amortization	$ 0.0	$ 0.0	$ 0.0	$ 0.0