Restatement of Previously Issued Financial Statements (Tables)

9 Months Ended

Sep. 27, 2025

Restatement Of Previously Issued Financial Statements [Abstract]

Summary of the Significant Effects of the Restatement on the Condensed Consolidated Statements

Following is a summary of the significant effects of the restatement on the Company’s condensed consolidated balance sheet as of September 27, 2025 as well as the effects of these changes on the Company’s condensed consolidated statements of income and comprehensive income, and intermodal segment reporting for the thirteen and thirty-nine weeks ended September 27, 2025 (in thousands, except per share data):


	Unaudited Consolidated Balance Sheets
	As Previously Reported		Adjustments			As Restated
September 27, 2025
Goodwill	$	148,784	$	(43,166	)	$	105,618
Total assets		1,817,108		(43,166	)		1,773,942
Retained earnings		554,283		(43,166	)		511,117
Total stockholders’ equity		578,072		(43,166	)		534,906
Total liabilities and stockholders’ equity	$	1,817,108	$	(43,166	)	$	1,773,942


	Unaudited Consolidated Statements of Income and Comprehensive Income
	As Previously Reported			Adjustments			As Restated
Thirteen Weeks Ended September 27, 2025
Impairment expense	$	81,245		$	43,166		$	124,411
Total operating expenses		471,030			43,166			514,196
Income (loss) from operations		(74,244	)		(43,166	)		(117,410	)
Income (loss) before income taxes		(83,396	)		(43,166	)		(126,562	)
Net income (loss)		(74,772	)		(43,166	)		(117,938	)
Earnings per common share - Basic	$	(2.84	)	$	(1.64	)	$	(4.48	)
Earnings per common share - Diluted	$	(2.84	)	$	(1.64	)	$	(4.48	)
Total comprehensive income (loss)	$	(72,866	)	$	(43,166	)	$	(116,032	)

(2)

Restatement of Previously Issued Financial Statements – continued


	Unaudited Consolidated Statements of Income and Comprehensive Income
	As Previously Reported			Adjustments			As Restated
Thirty-nine Weeks Ended September 27, 2025
Impairment expense	$	81,245		$	43,166		$	124,411
Total operating expenses		1,211,641			43,166			1,254,807
Income (loss) from operations		(38,671	)		(43,166	)		(81,837	)
Income (loss) before income taxes		(64,172	)		(43,166	)		(107,338	)
Net income (loss)		(60,442	)		(43,166	)		(103,608	)
Earnings per common share - Basic	$	(2.30	)	$	(1.64	)	$	(3.94	)
Earnings per common share - Diluted	$	(2.29	)	$	(1.64	)	$	(3.93	)
Total comprehensive income (loss)	$	(61,030	)	$	(43,166	)	$	(104,196	)


	Segment Reporting - Intermodal
	As Previously Reported			Adjustments			As Restated
Thirteen Weeks Ended September 27, 2025
Other segment expenses	$	89,418		$	43,166		$	132,584
Total operating expenses		156,629			43,166			199,795
Income (loss) from operations	$	(91,950	)	$	(43,166	)	$	(135,116	)
Thirty-nine Weeks Ended September 27, 2025
Other segment expenses	$	103,612		$	43,166		$	146,778
Total operating expenses		312,625			43,166			355,791
Income (loss) from operations	$	(108,335	)	$	(43,166	)	$	(151,501	)

UNIVERSAL LOGISTICS HOLDINGS, INC. 10-Q/A