Document and Entity Information Document - USD ($)	12 Months Ended
Document and Entity Information Document - USD ($)	Dec. 31, 2015	Feb. 25, 2016	Jun. 30, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	Echo Global Logistics, Inc.
Entity Central Index Key	0001426945
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		30,041,412
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 912,545,581

Consolidated Balance Sheets - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 56,522,194	$ 32,542,119
Accounts receivable, net of allowance for doubtful accounts of $1,627,315 and $1,226,297 at December 31, 2015 and 2014, respectively	196,420,614	145,198,419
Income taxes receivable	1,038,327	1,968,511
Prepaid expenses	3,605,602	2,849,011
Deferred income taxes	0	995,171
Other current assets	3,237,227	2,114,356
Total current assets	260,823,964	185,667,587
Property and equipment, net	27,304,474	21,276,709
Intangibles and other assets:
Goodwill	308,490,588	77,909,537
Intangible assets, net of accumulated amortization of $26,785,810 and $15,046,556 at December 31, 2015 and 2014, respectively	147,532,169	30,871,423
Other assets	2,358,587	318,938
Total assets	746,509,782	316,044,194
Current liabilities:
Accounts payable	103,985,783	85,999,784
Due to seller-short term	2,338,462	4,243,088
Accrued expenses	30,283,062	19,496,000
Other Liabilities, Current	784,829	17,507,500
Total current liabilities	137,392,136	127,246,372
Convertible Notes Payable	196,659,354	0
Due to seller-long term	1,748,235	1,087,990
Other noncurrent liabilities	2,940,435	1,502,019
Deferred income taxes	12,520,048	4,333,635
Total liabilities	351,260,208	134,170,016
Stockholders' equity:
Common stock, par value $0.0001 per share, 100,000,000 shares authorized; 29,765,525 shares issued and 29,727,588 shares outstanding at December 31, 2015; 23,207,051 shares issued and outstanding at December 31, 2014	2,979	2,322
Treasury Stock, Value	(784,829)	0
Additional paid-in capital	319,002,254	112,688,360
Retained earnings	77,029,170	69,183,496
Total stockholders' equity	395,249,574	181,874,178
Total liabilities and stockholders' equity	$ 746,509,782	$ 316,044,194

Consolidated Balance Sheets Parentheticals - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Current assets:
Allowance for doubtful accounts	$ 1,627,315	$ 1,226,297
Customer relationships and other intangible assets, accumulated amortization	$ 26,785,810	$ 15,046,556
Stockholders' equity:
Common stock, par value (USD per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	100,000,000	100,000,000
Common Stock, Shares, Issued	29,765,525	23,207,051
Common stock, shares oustanding	29,727,588	23,207,051
Treasury Stock, Shares	37,937	0

Consolidated Statements of Income - USD ($)	12 Months Ended
Consolidated Statements of Income - USD ($)	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Statement [Abstract]
REVENUE	$ 1,512,298,686	$ 1,173,382,760	$ 884,193,289
COSTS AND EXPENSES:
Transportation costs	1,222,035,371	965,165,330	728,543,525
Selling, general, and administrative expenses	243,214,264	166,812,670	121,881,168
Depreciation and amortization	24,142,527	13,876,079	10,564,657
INCOME FROM OPERATIONS	22,906,524	27,528,681	23,203,939
Interest income	23,909	0	0
Interest expense	(11,276,207)	(105,404)	(1,357)
Other expense	(126,295)	(144,128)	(354,480)
INTEREST AND OTHER EXPENSE	(11,378,593)	(249,532)	(355,837)
INCOME BEFORE PROVISION FOR INCOME TAXES	11,527,931	27,279,149	22,848,102
INCOME TAX EXPENSE	(3,682,257)	(10,491,591)	(8,645,488)
NET INCOME	$ 7,845,674	$ 16,787,558	$ 14,202,614
Basic net income per share (USD per share)	$ 0.29	$ 0.73	$ 0.62
Diluted net income per share (USD per share)	$ 0.28	$ 0.71	$ 0.61

Consolidated Statement of Stockholders' Equity - USD ($)	Total	Common Stock	Additional Paid-In Capital	Treasury Stock [Member]	Retained Earnings
Common stock, shares at beginning of period at Dec. 31, 2012		22,694,836
Stockholders' equity at beginning of period at Dec. 31, 2012	$ 140,985,410	$ 2,270	$ 102,789,816		$ 38,193,324
Increase (Decrease) in Stockholders' Equity
Share compensation expense	3,338,678		3,338,678
Exercise of stock options (in shares)		112,990
Exercise of stock options	1,130,159	$ 11	1,130,148
Common stock issued for vested restricted stock (in shares)		136,436
Common stock issued for vested restricted stock	0	$ 14	(14)
Common shares withheld and retired to satisfy employee tax witholding obligations upon vesting of restricted stock (in shares)		(43,791)
Common shares withheld and retired to satisfy employee tax witholding obligations upon vesting of restricted stock	(832,048)	$ (4)	(832,044)
Tax benefit from the exercise of stock options	405,218		405,218
Net income	14,202,614				14,202,614
Common stock, shares at end of period at Dec. 31, 2013		22,900,471
Stockholders' equity at end of period at Dec. 31, 2013	159,230,031	$ 2,291	106,831,802		52,395,938
Increase (Decrease) in Stockholders' Equity
Share compensation expense	4,405,426		4,405,426
Exercise of stock options (in shares)		173,727
Exercise of stock options	1,077,748	$ 17	1,077,731
Common stock issued for vested restricted stock (in shares)		187,594
Common stock issued for vested restricted stock	0	$ 19	(19)
Common shares withheld and retired to satisfy employee tax witholding obligations upon vesting of restricted stock (in shares)		(54,741)
Common shares withheld and retired to satisfy employee tax witholding obligations upon vesting of restricted stock	(1,116,858)	$ (5)	(1,116,853)
Tax benefit from the exercise of stock options	1,490,273		1,490,273
Net income	$ 16,787,558				16,787,558
Common stock, shares at end of period at Dec. 31, 2014	23,207,051	23,207,051
Stockholders' equity at end of period at Dec. 31, 2014	$ 181,874,178	$ 2,322	112,688,360		69,183,496
Treasury Stock, Shares at Dec. 31, 2014	0			0
Increase (Decrease) in Stockholders' Equity
Share compensation expense	$ 14,023,751		14,023,751
Exercise of stock options (in shares)		150,701
Exercise of stock options	1,057,883	$ 15	1,057,868
Common stock issued for vested restricted stock (in shares)		209,510
Common stock issued for vested restricted stock	0	$ 22	(22)
Stock Issued During Period, Shares, Share-based Compensation, Gross		17,375
Stock Issued During Period, Value, Share-based Compensation, Gross	0	$ 2	(2)
Stock Issued During Period, Shares, Other		5,750,000
Stock Issued During Period, Value, Other	157,836,250	$ 575	157,835,675
Adjustments to Additional Paid in Capital, Equity Component of Convertible Debt	18,956,232		18,956,232
Common shares withheld and retired to satisfy employee tax witholding obligations upon vesting of restricted stock (in shares)		(72,941)
Common shares withheld and retired to satisfy employee tax witholding obligations upon vesting of restricted stock	(1,922,147)	$ (7)	(1,922,140)
Common shares issued for acquisition (in shares)		503,829
Common shares issued for acquisition	14,746,000	$ 50	14,745,950
Tax benefit from the exercise of stock options	1,616,582		1,616,582
Treasury Stock, Shares, Acquired				(37,937)
Treasury Stock, Value, Acquired, Cost Method	(784,829)			$ (784,829)
Net income	$ 7,845,674				7,845,674
Common stock, shares at end of period at Dec. 31, 2015	29,727,588	29,765,525
Stockholders' equity at end of period at Dec. 31, 2015	$ 395,249,574	$ 2,979	$ 319,002,254	$ (784,829)	$ 77,029,170
Treasury Stock, Shares at Dec. 31, 2015	(37,937)			(37,937)

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Operating activities
Net income	$ 7,845,674	$ 16,787,558	$ 14,202,614
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred income taxes	(5,122)	729,600	632,684
Noncash stock compensation expense	14,023,751	4,405,426	3,338,678
Noncash interest expense	4,867,364	0	0
Contingent consideration expense	201,452	2,160,316	101,181
Depreciation and amortization	24,142,527	13,876,079	10,564,657
Change in assets, net of acquisitions:
Accounts receivable	12,508,623	(24,018,807)	(10,955,387)
Income taxes receivable	(1,464,187)	(631,331)	(633,590)
Prepaid expenses and other assets	(450,824)	(2,401,464)	(53,204)
Change in liabilities, net of acquisitions:
Accounts payable	5,745,669	11,460,893	4,713,829
Accrued expenses and other	3,421,529	9,994,275	2,891,656
Net cash provided by operating activities	70,836,456	32,362,545	24,803,118
Investing activities
Purchases of property and equipment	(14,744,850)	(15,155,168)	(9,238,806)
Payments for acquisitions, net of cash acquired	(390,395,041)	(33,768,519)	(1,958,236)
Net cash used in investing activities	(405,139,891)	(48,923,687)	(11,197,042)
Financing activities
Tax benefit of stock options exercised	2,222,458	1,495,481	460,475
Payment of contingent consideration	(2,945,833)	(4,859,670)	(3,615,000)
Proceeds from exercise of stock options	1,057,883	1,077,748	1,130,159
Employee tax withholdings related to net share settlements of equity-based awards	(1,922,147)	(1,116,858)	(832,048)
Proceeds from Lines of Credit	34,782,500	5,000,000	0
Repayments of Lines of Credit	34,782,500	5,000,000	0
Proceeds from Issuance of Long-term Debt	40,000,000
Repayments of Long-term Debt	(40,000,000)
Proceeds from sale of common stock, net of underwriting discounts and commissions	158,412,500
Proceeds from Convertible Debt	223,100,000
Payment of Financing and Stock Issuance Costs	(4,133,851)
Payment to Former Owners of Acquired Business	(17,507,500)
Repayments of Long-term Capital Lease Obligations	0	0	24,086
Net cash provided by (used in) financing activities	358,283,510	(3,403,299)	(2,880,500)
Increase (decrease) in cash and cash equivalents	23,980,075	(19,964,441)	10,725,576
Cash and cash equivalents, beginning of period	32,542,119	52,506,560	41,780,984
Cash and cash equivalents, end of period	56,522,194	32,542,119	52,506,560
Supplemental disclosure of cash flow information
Cash paid during the year for interest	5,450,509	105,404	1,357
Cash paid during the year for income taxes	3,074,254	8,901,068	8,191,472
Non-cash investing activity
Common stock issued for acquisition of Command	14,746,000	0	0
Non-cash financing activity
Fair value of due to seller obligation at acquisition date	1,500,000	880,000	0
Liability for Purchase of Treasury Stock	784,829	0	0
Increase (Decrease) in Notes Payable, Current	$ 0	$ 17,507,500	$ 0

Description of Business (Notes)	12 Months Ended
Description of Business (Notes)	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of Business Echo Global Logistics, Inc. ("the Company") is a leading provider of technology-enabled transportation and supply chain management services. These services are delivered on a proprietary technology platform that serves the transportation and logistics needs of the Company's clients. The Company provides services across all major transportation modes, including truckload ("TL"), less-than-truckload ("LTL"), small parcel, intermodal, domestic air, and international. The Company's core logistics services include rate negotiation, shipment execution and tracking, carrier selection and management, routing compliance, freight bill audit, and payment and performance management and reporting functions, including executive dashboard tools. The Company's common stock is listed on the Nasdaq Global Select Market under the symbol “ECHO.”

Summary of Significant Accounting Policies (Notes)

12 Months Ended

Dec. 31, 2015

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Basis of Presentation

The consolidated financial statements include the accounts of Echo Global Logistics, Inc. and its subsidiaries (the Company). All significant intercompany accounts and transactions have been eliminated in the consolidation. The consolidated statements of operations include the results of entities or assets acquired from the effective date of the acquisition for accounting purposes.

Preparation of Financial Statements and Use of Estimates

The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States (U.S. GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expenses during the reporting periods. Actual results can differ from those estimates.

Fair Value of Financial Instruments

The carrying value of the Company's financial instruments, which consist of cash and cash equivalents, accounts receivable and accounts payable, approximate their fair values due to their short term nature. The fair value of the due to seller liabilities are determined based on the likelihood of contingent earn-out payments. The fair value of the liability component of the Notes (as defined in Footnote 9 (Long-Term Debt)) was determined using the discounted cash flow analysis discussed in Footnote 9.

Revenue Recognition

In accordance with Accounting Standards Codification ("ASC") Topic 605-20 Revenue Recognition - Services, transportation revenue and related transportation costs are recognized when the shipment has been delivered by a third-party carrier. Fee for service revenue is recognized when the services have been rendered. At the time of delivery or rendering of services, as applicable, the Company's obligation to fulfill a transaction is complete and collection of revenue is reasonably assured.

In accordance with ASC Topic 605-45 Revenue Recognition - Principal Agent Considerations, the Company generally recognizes revenue on a gross basis, as opposed to a net basis similar to a commission arrangement, because it bears the risks and benefits associated with revenue-generated activities by, among other things: (1) acting as a principal in the transaction; (2) establishing prices; (3) managing all aspects of the shipping process; and (4) taking the risk of loss for collection, delivery, and returns. Certain transactions to provide specific services are recorded at the net amount charged to the client due to the following key factors: (a) the Company does not have latitude in establishing pricing; and (b) the Company has credit risk for only the net revenue earned from its client while the carrier has credit risk for the transportation costs. Net revenue equals revenue minus transportation costs.

Rebates

The Company has entered into agreements with certain clients to rebate to them a portion of the costs that they pay to the Company for transportation services, based on certain conditions and/or pricing schedules that are specific to each individual agreement, but that are typically constructed as a percentage of the costs that its clients incur.

Rebates are recognized at the same time that the related transportation revenue is recognized and are recorded as a reduction of transportation revenue.

Segment Reporting

The Company applies the provisions of ASC Topic 280 Segment Reporting, which establishes accounting standards for segment reporting.

The Company's chief operating decision-maker assesses performance and makes resource allocation decisions for the Company's operating segments, which aggregate to one reportable segment for reporting purposes. The Company has provided all enterprise wide disclosures required by this guidance.

Cash and Cash Equivalents

The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents.

Accounts Receivable and Allowance for Doubtful Accounts

Accounts receivable are uncollateralized customer obligations due under normal trade terms. Invoices require payment within 30 to 90 days from the invoice date. Accounts receivable are stated at the amount billed to the customer. Customer account balances with invoices 90 days past due are considered delinquent. The Company generally does not charge interest on past due amounts.

The carrying amount of accounts receivable is reduced by an allowance for doubtful accounts that reflects management's best estimate of amounts that will not be collected. The allowance is based on historical loss experience and any specific risks identified in client collection matters. Accounts receivable are charged off against the allowance for doubtful accounts when it is determined that the receivable is uncollectible. The Company recorded $1,427,983, $1,937,227 and $1,229,134 of bad debt expense for the years ended December 31, 2015, 2014 and 2013, respectively.

Property and Equipment

Property and equipment are stated at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the respective assets. The estimated useful lives, by asset class, are as follows:



Computer equipment and software	3 years
Office equipment	5 years
Furniture and fixtures	5 - 7 years

Internal Use Software

The Company has adopted the provisions of ASC Topic 350-40 Internal Use Software. Accordingly, certain costs incurred in the planning and evaluation stage of internal use computer software are expensed as incurred. Costs incurred during the application development stage are capitalized and included in property and equipment. Capitalized internal use software costs are amortized over the expected economic life of three years using the straight-line method. The total amortization expense for the years ended December 31, 2015, 2014 and 2013 was $8,648,096, $7,572,309 and $6,394,788, respectively. At December 31, 2015 and 2014, the net book value of internal use software costs was $14,649,370 and $13,687,293, respectively.

Goodwill and Other Intangibles

Goodwill represents the excess of consideration transferred over the value assigned to the net tangible and identifiable intangible assets of businesses acquired. In accordance with ASC Topic 350 Intangibles - Goodwill and Other, goodwill is not amortized, but instead is tested for impairment annually, or more frequently if circumstances indicate a possible impairment may exist. In September 2011, the Financial Accounting Standards Board ("FASB") approved Accounting Standard Update ("ASU") No. 2011-08, Intangibles-Goodwill and Other (Topic 350): Testing Goodwill for Impairment. This ASU permits an entity to first assess qualitative factors to determine whether it is more likely than not (a likelihood of more than 50 percent) that the fair value of a reporting unit is less than its carrying amount. After assessing qualitative factors, if an entity determines that it is more likely than not that the fair value of the reporting unit is greater than its carrying amount, no further testing is necessary. The Company tests goodwill for impairment at the reporting unit level. In accordance with ASC 350, the Company first assesses qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. In 2015, we concluded that it is more likely than not that the fair value of each reporting unit exceeds its carrying amount. Absent any special circumstances that could require an interim test, the Company has elected to test for goodwill impairment during the fourth quarter of each year.

Topic 350 also requires that intangible assets with finite lives be amortized over their respective estimated useful lives and reviewed for impairment whenever impairment indicators exist in accordance with ASC Topic 360 Property, Plant and Equipment. The Company's intangible assets consist of customer relationships, carrier relationships, non-compete agreements, and trade names, which are being amortized on an accelerated basis over their estimated weighted-average useful lives of 14.8 years, 17.0 years 6.7 years and 4.0 years, respectively. See Note 7.

Income Taxes

The Company accounts for income taxes in accordance with ASC Topic 740 Income Taxes, under which deferred assets and liabilities are recognized based upon anticipated future tax consequences attributable to differences between financial statement carrying values of assets and liabilities and their respective tax bases. A valuation allowance is established to reduce the carrying value of deferred tax assets if it is considered more likely than not that such assets will not be realized. Any change in the valuation allowance would be charged to income in the period such determination was made.

The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such positions are then measured based on the largest benefit that has a greater than 50% likelihood of being realized upon settlement.

Stock-Based Compensation

The Company accounts for stock-based compensation in accordance with ASC Topic 718 Compensation - Stock Compensation which requires all share-based payments to employees, including grants of stock options, to be recognized in the income statement based upon their fair values. Share-based employee compensation costs are recognized as a component of selling, general and administrative expense in the consolidated statements of operations. See Note 14—Stock-Based Compensation Plans for a description of the Company's accounting for stock-based compensation plans.

Self-Insurance Liability

Since January 2014, the Company has been self-insured for its employee health plans and records a liability that represents its estimated cost of claims incurred and unpaid as of the balance sheet date. The Company's estimated liability is not discounted and is based on a number of assumptions and factors, including historical trends, actuarial assumptions and economic conditions, and is closely monitored and adjusted when warranted by changing circumstances. The total estimated self-insurance liabilities at December 31, 2015 and 2014 were $995,024 and $725,743, respectively.

New Accounting Pronouncements (Notes)	12 Months Ended
New Accounting Pronouncements (Notes)	Dec. 31, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements ASU 2015-17, Balance Sheet Classification of Deferred Taxes In November 2015, the FASB issued ASU 2015-17, Balance Sheet Classification of Deferred Taxes ("ASU 2015-17"). This guidance requires companies to classify all deferred tax assets and liabilities as noncurrent on the balance sheet, instead of separating deferred taxes into current and noncurrent amounts. ASU 2015-17 may be adopted on either a prospective or retrospective basis, and is effective for financial statements issued for annual periods beginning after December 15, 2016. Early adoption is permitted. The Company has early adopted ASU 2015-17, effective with this Form 10-K filing for the period ended December 31, 2015. This change in accounting principle allows the Company to comply with the new guidance going forward. The Company is applying the new guidance on a prospective basis. As such, prior periods are not retrospectively adjusted. The change in balance sheet presentation due to the adoption of ASU 2015-17 had no impact on the current or prior period statements of operations. ASU 2015-16, Simplifying the Accounting for Measurement-Period Adjustments In September 2015, the FASB issued ASU 2015-16, Simplifying the Accounting for Measurement-Period Adjustments ("ASU 2015-16"). This guidance eliminates the requirement for an acquirer in a business combination to account for measurement-period adjustments retrospectively. Instead, acquirers must recognize measurement-period adjustments during the period in which they determine the amounts, including the effect on earnings of any amounts that would have been recorded in previous periods if the accounting had been completed at the acquisition date. The guidance is effective for fiscal years beginning after December 15, 2015, but early adoption is permitted. The Company early adopted ASU 2015-16, effective with the Form 10-Q filing for the period ended September 30, 2015. This change in accounting principle allowed the Company to record an immaterial measurement-period adjustment to amortization expense in the third quarter of 2015. As of June 30, 2015 the Company had recorded a preliminary estimated fair value of the intangible assets acquired from Command Transportation, LLC. The intangible asset valuation was updated in the third quarter of 2015, and an adjustment was recorded to reflect the updated fair value of the intangible assets. Per the guidance in ASU 2015-16, the Company recognized the change in amortization expense in the third quarter of 2015, rather than accounting for the adjustment retrospectively. For the quarter ended September 30, 2015, this resulted in an immaterial measurement-period adjustment to depreciation and amortization in the statement of operations and a $26.1 million increase to goodwill (and corresponding decrease to intangible assets) on the balance sheet for the quarter ended September 30, 2015. ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs ("ASU 2015-03"), requiring debt issuance costs to be presented on the balance sheet as a deduction from the carrying amount of the related debt liability instead of as a deferred asset. ASU 2015-03 is effective as of January 1, 2016, but early adoption is permitted. ASU 2015-03 must be applied on a full retrospective basis, with all prior periods restated for the new presentation. The Company early adopted ASU 2015-03, effective with the Form 10-Q filing for the quarter ended June 30, 2015. Early adoption allowed the Company to record the significant debt issuance costs incurred in the second quarter of 2015 in accordance with ASU 2015-03, instead of waiting until 2016 to adopt ASU 2015-03 and then retrospectively restating the 2015 numbers. Effective with the Form 10-Q filing for the period ended June 30, 2015, the Company presents debt issuance costs related to the Notes (as defined in Footnote 9 (Long-Term Debt)) on the balance sheet as a contra-liability that reduces the carrying amount of the Note liability, rather than as a deferred asset. The Company's policy with regard to debt issuance costs incurred related to the Company's ABL Facility (as defined in Footnote 9 (Long-Term Debt)) is to present these costs as a contra-liability in periods when there is a related ABL Facility debt liability on the balance sheet. If there is no outstanding draw on the ABL Facility at period end, and thus no liability is recorded on the balance sheet, these debt issuance costs are presented as a deferred asset. After the Company had adopted this policy, the FASB issued ASU 2015-15, Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements in August 2015. This ASU was meant to clarify the guidance in ASC 2015-03, and stated that the SEC staff would not object to a company presenting debt issuance costs related to a line-of-credit arrangement on the balance sheet as a deferred asset, regardless of whether there were any outstanding borrowings at period-end. ASU 2015-15 does not require this presentation as a deferred asset, and thus the Company will continue to follow the accounting policy adopted in the second quarter of 2015. ASU 2015-03 requires retrospective application to prior periods. The only debt issuance costs recorded at December 31, 2014 were an insignificant amount related to the Company's previous revolving credit facility with PNC Bank. No amounts were drawn on such revolving credit facility at December 31, 2014. Accordingly, the prior year presentation as a deferred financing asset is also the appropriate presentation after adoption of ASU 2015-03 and no change to the prior period balance sheet is necessary. The change in balance sheet presentation due to the adoption of ASU 2015-03 had no impact on the current or prior period statements of operations. Debt issuance costs are amortized to interest expense using the effective interest method over the useful life of the debt instrument, both before and after the adoption of ASU 2015-03. Other New Accounting Pronouncements In February 2015, the FASB issued ASU 2015-02, Amendments to the Consolidation Analysis, which amends the guidance regarding the consolidation analysis performed by reporting entities that are involved with VIEs, particularly those that have decision maker or service provider fee arrangements and related-party relationships. This new accounting standard is effective as of January 1, 2016, and is not expected to have a material impact on the Company’s financial statements. In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern, which requires management to perform interim and annual assessments of an entity’s ability to continue as a going concern within one year of the date of issuance of the entity’s financial statements. The accounting standard is effective for annual and interim periods beginning after December 15, 2016. Early adoption is permitted. The adoption of this standard is not expected to have a material impact on the Company’s financial statements. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers, to clarify the principles used to recognize revenue for all entities. The guidance is effective for annual and interim periods beginning after December 15, 2017. Two methods of adoption are permitted - a full retrospective method that applies the new standard to each prior reporting period presented, or a modified retrospective approach that recognizes the cumulative effect of applying the new standard at the date of initial application. Early adoption is not permitted. The Company is evaluating the effects, if any, that the adoption of this guidance will have on the Company’s financial statements.

- Definition

The entire disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6507316

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Direct Effects of a Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6510796

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=56949863&loc=d3e22583-107794

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Indirect Effects of a Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6515603

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=56949863&loc=d3e22580-107794

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.10-01.(b)(6))
-URI http://asc.fasb.org/extlink&oid=27015980&loc=d3e46468-122699

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Accounting Change
-URI http://asc.fasb.org/extlink&oid=6503790

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=56949863&loc=d3e22499-107794

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Retrospective Application
-URI http://asc.fasb.org/extlink&oid=6523989

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=51655806&loc=d3e765-108305

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=51655806&loc=d3e725-108305

+ Details

Acquisitions (Notes)

12 Months Ended

Dec. 31, 2015

Business Combinations [Abstract]

Acquisitions

2015 Acquisitions

Xpress Solutions, Inc.

On February 1, 2015, the Company acquired Xpress Solutions, Inc. ("Xpress"), a non-asset based TL and LTL transportation brokerage based in Frankfort, Illinois, and the results of Xpress have been included in the Company's consolidated financial statements since the acquisition date. The Company purchased the assets and assumed certain liabilities of Xpress for $6,054,937 in cash, subject to working capital adjustments, and an additional $3,000,000 in contingent consideration that may become payable upon the achievement of certain performance measures on or prior to January 31, 2019. As a result of the purchase accounting for the acquisition, the Company recorded $4,081,407 of goodwill, $1,500,000 as the estimated opening balance sheet fair value of the contingent consideration obligation, and $3,000,000 of customer relationship intangible assets. The amount of goodwill deductible for U.S. income tax purposes is $2,581,407, which excludes the opening balance sheet fair value of the contingent consideration obligation.

The Company has recognized a $40,000 increase in the fair value of the contingent consideration obligation since the acquisition date, resulting in a contingent consideration obligation of $1,540,000 at December 31, 2015.

The amounts of revenue and net income of Xpress included in the Company's consolidated statements of operations from the acquisition date to December 31, 2015 are $11.8 million and $0.3 million, respectively.

Command Transportation, LLC

On June 1, 2015, the Company completed the acquisition of all of the outstanding membership units of Command Transportation, LLC ("Command"), one of the largest privately held TL brokers and non-asset based transportation providers in the United States. Command is headquartered in Skokie, Illinois, with satellite locations in Texas, Missouri and Kansas.

The Company financed the cash purchase price for the Command acquisition, in part, with the proceeds from the sale of 5,750,000 shares of common stock and $230,000,000 aggregate principal amount of 2.50% convertible senior notes due 2020 (the "Notes"). The Company financed the remainder of the cash purchase price for the Command acquisition with drawings under its ABL Facility (see Note 9). Additionally, a portion of the purchase price consisted of shares of Echo common stock issued to one of the sellers. The fair value of the total consideration transferred was as follows:



Cash	$	394,279,778
Echo common stock, fair value	14,746,000
Working capital adjustment, December 2015	(142,969		)
Total consideration transferred	$	408,882,809

The equity portion of the purchase price consisted of 503,829 unregistered shares of Echo common stock issued to Paul Loeb, the former owner of Command, on June 1, 2015. The closing price of Echo common stock on June 1, 2015 was $32.52 per share. As these shares were unregistered, the Company applied a 10% marketability discount to determine the fair value of the consideration transferred. There is no contingent consideration associated with the purchase of Command.

The following table summarizes the preliminary allocation of the total consideration transferred for the acquisition of Command:



Cash	$	9,495,246
Accounts receivable, net	62,398,350
Property and equipment	3,667,615
Prepaid expenses	818,903
Goodwill	226,480,985
Intangible assets	125,400,000
Total assets acquired	$	428,261,099
Accounts payable	$	11,172,240
Accrued expenses	8,206,050
Total liabilities assumed	$	19,378,290
Total consideration transferred	$	408,882,809

Goodwill of $226,480,985, which is approximately the amount of goodwill deductible for U.S. income tax purposes, represents the premium the Company paid over the fair value of the net tangible and identifiable intangible assets it acquired. The Company paid this premium because the acquisition of Command will, among other things, significantly enhance the Company's national scale and density in the highly fragmented truckload market. In addition, Echo paid this premium to acquire an experienced sales force with established customer and carrier relationships, and Command executives with significant experience in the transportation industry. The allocation of the purchase price to the assets and liabilities above is subject to change as the Company finalizes purchase accounting. The Company is in the process of finalizing the valuation of certain acquired accounts receivable, accounts payable, property and equipment, and intangible assets.

The fair values assigned to the intangible assets acquired were as follows:



Intangible Asset	Value		Useful Life
Customer relationships	$	97,200,000	17 years
Carrier relationships	18,300,000		17 years
Trade names	5,000,000		4 years
Noncompete agreements	4,900,000		5-8 years
	$	125,400,000

The customer relationships are being amortized using an accelerated method, as an accelerated method best approximates the distribution of cash flows generated by the acquired customer relationships. The carrier relationships, trade names and noncompete agreements are being amortized using the straight-line method.

On June 1, 2015, the Company issued 335,882 shares of restricted common stock to 33 Command employees as employment inducement awards pursuant to NASDAQ Listing Rule 5635(c)(4). This restricted common stock vests after 1 year and is being recognized as compensation expense over the vesting period. Additionally, at the closing, the Company issued 100,766 and 67,178 shares of restricted common stock and performance stock, respectively, to two of the sellers who entered into new employment agreements with the Company as employment inducement awards pursuant to NASDAQ Listing Rule 5635(c)(4). This restricted common stock and performance stock vests over 3 years and is being recognized as compensation expense over the vesting period. The stock compensation expense related to these issuances recorded within selling, general and administrative expense in the statement of operations from the issuance date to December 31, 2015 is $7.3 million.

The Company recognized $6.5 million of Command acquisition-related transaction costs in selling, general and administrative expense in the statement of operations in 2015.

The amounts of revenue and net income of Command included in the Company's consolidated statement of operations from the acquisition date to December 31, 2015 are $286.4 million and $1.1 million, respectively. This net income includes the stock compensation expense for the restricted stock granted to former Command employees, but excludes the interest expense and Command-related transaction costs recorded in the statement of operations in 2015.

The following unaudited pro forma information presents a summary of the Company's pro forma consolidated revenue and net income for the twelve months ended December 31, 2015 and 2014, as if the Company had acquired Command as of January 1, 2014. This unaudited pro forma supplemental information includes the historical financial results of the Company and Command, adjusted to record the following pro forma adjustments:

(1) Intangible asset amortization as if the acquisition had occurred on January 1, 2014, at approximately $3.0 million per quarter.

(2) Income tax expense as if Command had been paying the Company's effective tax rate since January 1, 2014.

(3) Interest expense of approximately $3.3 million per quarter (and related tax benefit), as if the convertible senior note offering and draw on the ABL Facility used to fund the acquisition had occurred on January 1, 2014. This includes the amortization of debt issuance costs and underwriting discounts and commissions, as well as the amortization of the Note discount.

(4) Stock compensation expense of approximately $2.7 million per quarter (and the related tax benefit) in 2014.

If the Company had acquired Command on January 1, 2014, the stock compensation expense related to the 335,882 shares of restricted common stock granted to former Command employees on the acquisition date would have been expensed in 2014. The amount recognized in the Company's historical 2015 results is also removed as a pro forma adjustment.

(5) Pro forma adjustment to remove $6.5 million of transaction-related expenses and $2.0 million of Term Loan Facility (as defined in Footnote 9 (Long-Term Debt)) commitment fees (and the related tax benefit of both) recorded in the Company's historical statement of operations in 2015. If the acquisition had occurred on January 1, 2014, these transaction costs and Term Loan Facility commitment fees would have been expensed in fiscal year 2013.

The unaudited pro forma results do not reflect any operating efficiencies or potential cost savings which may result from the consolidation of the operations of the Company and Command. These unaudited pro forma results are not necessarily indicative of what would have occurred if the Command acquisition had been in effect for the periods presented or future results.



	Year Ended December 31,
	2015			2014
Echo revenue, as reported	$	1,512,298,686		$	1,173,382,760
Command revenue⁽¹⁾	221,422,040			561,059,709
Pro forma revenue	$	1,733,720,726		$	1,734,442,469

Echo net income, as reported	$	7,845,674		$	16,787,558
Command net income ⁽¹⁾	9,719,680			21,583,380
Pro forma adjustments	(131,383		)	(30,480,546		)
Pro forma net income	$	17,433,971		$	7,890,392

(1) The pro forma Command amounts for the twelve months ended December 31, 2015 include only five months of Command results. Command revenue and net income from June 1, 2015 through December 31, 2015 are included in Echo reported revenue and net income.

2014 Acquisitions

Online Freight Services, Inc.

In January 2014, the Company acquired Online Freight Services, Inc. ("OFS"), a non-asset based truckload transportation brokerage based in Mendota Heights, Minnesota, and the results of OFS have been included in the consolidated financial statements since the acquisition date. The Company agreed to purchase the assets and assume certain liabilities of OFS for $9,460,742 in cash payable at closing and an additional $1,500,000 in cash consideration that may become payable upon achievement of certain performance measures on or prior to December 31, 2017. As a result of the purchase accounting for the acquisition, the Company recorded $4,309,146 of goodwill, of which $880,000 is related to contingent consideration, and $4,850,000 of intangible assets, which primarily consists of customer relationships and trade names. The amount of goodwill deductible for U.S. income tax purposes is $3,429,146, which excludes the opening balance sheet fair-value of the contingent consideration obligation.

Comcar Logistics, LLC

In February 2014, the Company acquired Comcar Logistics, LLC ("Comcar"), a non-asset based truckload brokerage with offices in Jacksonville, Florida and Denver, Colorado, and the results of Comcar have been included in the consolidated financial statements since the acquisition date. The Company agreed to purchase the assets and assume certain liabilities of Comcar for $4,900,930 in cash. There is no contingent consideration associated with the purchase of Comcar. As a result of the purchase accounting for the acquisition, the Company recorded $2,342,265 of goodwill, which is approximately the amount of goodwill deductible for U.S. income tax purposes, and $2,500,000 of intangible assets, which primarily consists of customer relationships.

One Stop Logistics, Inc.

In May 2014, the Company acquired One Stop Logistics, Inc. ("One Stop"), a non-asset based brokerage headquartered in Watsonville, California. One Stop provides both truckload and less-than-truckload solutions, and has offices throughout the country. The Company agreed to purchase the assets and assume certain liabilities of One Stop for total consideration of $37,490,924 in cash, which includes a working capital payment made during the third quarter of 2014. This $37,490,924 was paid in four separate payments, as follows:



Fair value of consideration transferred:
Cash payment made at closing	$	19,262,980
Working capital payment made in September 2014	720,444
Cash payment made in January 2015	13,782,500
Cash payment made in May 2015	3,725,000
Total	$	37,490,924

The payments made in January 2015 and May 2015 were recorded as other current liabilities on the opening balance sheet. There is no contingent consideration associated with the purchase of One Stop. The acquisition provided the Company with strategic growth and added an assembled workforce with strong sales talent and an established network of shippers and carriers.

The following table summarizes the allocation of the total consideration transferred for the acquisition of One Stop:



Cash	$	—
Accounts receivable	5,369,508
Property and equipment	17,137
Other assets	12,446
Goodwill	19,626,724
Intangible assets	16,800,000
Total assets acquired	$	41,825,815
Accounts payable	$	4,197,058
Accrued expenses	137,833
Total liabilities assumed	$	4,334,891
Total consideration transferred	$	37,490,924

Goodwill of $19,626,724, which is approximately the amount of goodwill deductible for U.S. income tax purposes, represents the premium the Company paid over the fair value of the net tangible and identifiable intangible assets it acquired. The Company paid this premium because One Stop, among other things, expanded the Company's presence in the TL and LTL markets, especially in California, and added an experienced sales force with established customer relationships. The intangible assets are primarily customer relationships, which have a useful life of twelve years.

- 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
-Section 50
-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

Fair Value Measurement (Notes)

12 Months Ended

Dec. 31, 2015

Fair Value Disclosures [Abstract]

Fair Value Measurement

The Company applies ASC Topic 820 Fair Value Measurements and Disclosures for its financial assets and financial liabilities. The guidance requires disclosures about assets and liabilities measured at fair value. The Company's financial liabilities primarily relate to contingent earn-out payments of $4,086,697 as of December 31, 2015. The potential earnout payments and performance are defined in the individual purchase agreement for each acquisition. EBITDA is the performance target defined and measured to determine the earnout payment due, if any, after each defined measurement period.

ASC Topic 820 includes a fair value hierarchy that is intended to increase consistency and comparability in fair value measurements and related disclosures. The fair value hierarchy is based on observable or unobservable inputs to valuation techniques that are used to measure fair value. Observable inputs reflect assumptions market participants would use in pricing an asset or liability based on market data obtained from independent sources while unobservable inputs reflect a reporting entity's pricing based upon its own market assumptions. The fair value hierarchy consists of the following three levels:


•	Level 1: Inputs are quoted prices in active markets for identical assets or liabilities.


•	Level 2: Inputs are quoted prices for similar assets or liabilities in an active market, quoted prices for identical or similar assets or liabilities in markets that are not active, and inputs other than quoted prices that are observable and market-corroborated inputs, which are derived principally from or corroborated by observable market data.


•	Level 3: Inputs that are derived from valuation techniques in which one or more significant inputs or value drivers are unobservable.

The significant inputs used to derive the fair value of the amounts due to seller include financial forecasts of future operating results, the probability of reaching the forecast and an appropriate discount rate for each contingent liability. Probabilities are estimated by reviewing financial forecasts and assessing the likelihood of reaching the required performance measures based on factors specific to each acquisition as well as the Company’s historical experience with similar arrangements. If an acquisition reaches the required performance measure, the estimated probability would be increased to 100% and would still be classified as a contingent liability on the balance sheet. If the measure is not reached, the probability would be reduced to reflect the amount earned, if any, depending on the terms of the agreement. Discount rates used in determining the fair value of the contingent consideration ranged between 3% and 7%. Historical results of the respective acquisitions serve as the basis for the financial forecasts used in the valuation.

Quantitative factors are also considered in these forecasts, including acquisition synergies, growth and sales potential and potential operational efficiencies gained. Changes to the significant inputs used in determining the fair value of the contingent consideration could result in a change in the fair value of the contingent consideration. However, the correlation and inverse relationship between higher projected financial results to the discount rate applied and probability of meeting the financial targets mitigates the effect of any changes to the unobservable inputs.

The following table sets forth the Company's financial assets and liabilities measured at fair value on a recurring basis and the basis of measurement as of December 31, 2015 and 2014:



	Fair Value Measurements as of December 31, 2015
	Total			Level 1		Level 2		Level 3
Liabilities:
Contingent consideration obligation	$	(4,086,697	)	$	—	$	—	$	(4,086,697	)



	Fair Value Measurements as of December 31, 2014
	Total			Level 1		Level 2		Level 3
Liabilities:
Contingent consideration obligation	$	(5,331,078	)	$	—	$	—	$	(5,331,078	)

The following table provides a reconciliation of the beginning and ending balances for the liabilities measured at fair value using significant unobservable inputs (Level 3):



	Due to Seller
Balance at January 1, 2014	$	(7,150,432	)
OFS acquisition, acquisition date fair value	(880,000		)
Change in fair value	(2,160,316		)
Payment of contingent consideration	4,859,670
Balance at December 31, 2014	(5,331,078		)
Xpress acquisition, acquisition date fair value	(1,500,000		)
Change in fair value	(201,452		)
Payment of contingent consideration	2,945,833
Balance at December 31, 2015	$	(4,086,697	)

For the years ended December 31, 2015 and 2014, the Company recognized expense of $201,452 and $2,160,316, respectively, in selling, general, and administrative expense due to the change in fair value determined by a level three valuation technique. These changes in fair value resulted from using revised forecasts that took into account the most recent performance at each acquired business, as well as from the effect of the time value of money.

For the years ended December 31, 2015 and 2014, the Company made contingent earn-out payments of $2,945,833 and $4,859,670, respectively.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Property and Equipment (Notes)

12 Months Ended

Dec. 31, 2015

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment at December 31, 2015 and 2014, consisted of the following:



	December 31,			December 31,
	2015			2014
Computer equipment	$	13,518,440		$	10,063,187
Software, including internal use software	56,211,129			46,303,704
Furniture, fixtures and office equipment	12,516,254			8,254,664
	82,245,823			64,621,555
Less accumulated depreciation	(54,941,349		)	(43,344,846		)
	$	27,304,474		$	21,276,709

Depreciation expense, including amortization of capitalized internal use software, was $12,403,273, $9,950,256 and $8,192,981 for the years ended December 31, 2015, 2014 and 2013, respectively.

Intangibles and Other Assets (Notes)

12 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Intangibles and Other Assets

The following is a summary of goodwill as of December 31:



Balance as of January 1, 2014	$	51,650,060
OFS acquisition, goodwill acquired	4,309,146
Comcar acquisition, goodwill acquired	2,342,265
One Stop acquisition, goodwill acquired	19,608,066
Balance as of December 31, 2014	77,909,537
One Stop, purchase accounting adjustment	18,659
Xpress acquisition, goodwill acquired	4,081,407
Command acquisition, goodwill acquired	226,480,985
Balance as of December 31, 2015	$	308,490,588

The following is a summary of amortizable intangible assets as of December 31, 2015 and December 31, 2014:



	December 31, 2015			December 31, 2014			Weighted- Average Life
Customer relationships	$	145,138,979		$	44,938,979		14.8 years
Carrier relationships	18,300,000			—			17.0 years
Noncompete agreements	5,239,000			339,000			6.7 years
Trade names	5,640,000			640,000			4.0 years
	174,317,979			45,917,979			14.4 years
Less accumulated amortization	(26,785,810		)	(15,046,556		)
Intangible assets, net	$	147,532,169		$	30,871,423

Amortization expense related to intangible assets was $11,739,254, $3,925,823, and $2,371,676 for the years ended December 31, 2015, 2014 and 2013, respectively.

The estimated amortization expense for the next five years and thereafter is as follows:



2016	$	15,804,429
2017	14,243,799
2018	12,861,305
2019	11,470,909
2020	10,638,587
Thereafter	82,513,140
	$	147,532,169

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Accrued Expenses and Other Noncurrent Liabilities (Notes)

12 Months Ended

Dec. 31, 2015

Payables and Accruals [Abstract]

Accounts Payable and Accrued Liabilities Disclosure [Text Block]

Accrued Expenses and Other Noncurrent Liabilities

The components of accrued expenses at December 31, 2015 and December 31, 2014 are as follows:



	December 31, 2015		December 31, 2014
Accrued compensation	$	17,937,504	$	11,359,446
Accrued rebates	2,535,606		2,572,544
Accrued employee benefits	2,809,239		1,643,713
Accrued professional service fees	1,837,749		868,649
Accrued interest	1,463,880		27,320
Deferred rent	400,809		293,853
Other	3,298,275		2,730,475
Total accrued expenses	$	30,283,062	$	19,496,000

The other noncurrent liability of $2,940,435 at December 31, 2015 is the portion of deferred rent in excess of twelve months and the long-term uncertain tax liability. The other noncurrent liability of $1,502,019 at December 31, 2014 is the portion of deferred rent in excess of twelve months.

Long-Term Debt (Notes)

12 Months Ended

Dec. 31, 2015

Long-term Debt, Unclassified [Abstract]

Long-term Debt

Long-Term Debt

ABL Facility

On June 1, 2015, the Company and Command, as co-borrowers, entered into a Revolving Credit and Security Agreement (the “New Credit Agreement”) with PNC Bank, National Association, as administrative agent, Bank of America, N.A. and JPMorgan Chase Bank, N.A., each as co-syndication agents, and the lenders from time to time party thereto. The New Credit Agreement replaced the Company’s previous Credit Agreement, dated as of May 2, 2014, by and among the Company, the lenders party thereto, and PNC Bank, National Association, as administrative agent. During the first five months of 2015, we drew and fully repaid $34.8 million on this previous Credit Agreement. The New Credit Agreement provides for a senior secured revolving credit facility in an initial aggregate principal amount of up to $200 million (the “ABL Facility”). The initial aggregate principal amount under the ABL Facility may be increased from time to time by an additional $100 million to a maximum aggregate principal amount of $300 million; provided, however, that only four increases are permitted during the life of the loan and, for each increase, certain requirements are satisfied. The Company’s obligations under the New Credit Agreement are secured, on a first lien priority basis, by certain working capital assets.

Interest is payable at a rate per annum equal to, at the option of the Company, any of the following, plus, in each case, an applicable margin: (a) a base rate determined by reference to the highest of (1) the federal funds effective rate, plus 0.50%, (2) the base commercial lending rate of PNC Bank, National Association and (3) a daily LIBOR rate, plus 1.00%; or (b) a LIBOR rate determined by reference to the costs of funds for deposits in the relevant currency for the interest period relevant to such borrowing adjusted for certain additional costs. The applicable margin will be 0.25% to 0.75% for borrowings at the base rate and 1.25% to 1.75% for borrowings at the LIBOR rate, in each case, based on the excess availability under the ABL Facility.

The Company will also be required to pay a commitment fee in respect to the unutilized commitments under the ABL Facility in an amount between 0.25% and 0.375%, based on the excess availability for the prior calendar quarter under the ABL Facility. At December 31, 2015, the Company's commitment fee was calculated at a rate of 0.375%.

The terms of the ABL Facility include various covenants, including a covenant that requires the Company to maintain a consolidated fixed charge coverage ratio at any time (a) a specified default occurs or (b) if excess availability falls below certain specified levels. As of December 31, 2015, neither of the events that would require the Company to maintain the fixed charge coverage ratio occurred, and the Company is in compliance with all covenants related to the ABL.

During 2015, the Company drew $40 million on the ABL Facility. This entire amount was repaid during the year, and no amounts were outstanding on the ABL Facility as of December 31, 2015.

The issuance of letters of credit under the ABL Facility reduces available borrowings. At December 31, 2015, there were $0.8 million of letters of credit outstanding. The total draw allowed on the ABL Facility at December 31, 2015, as determined by the working capital assets pledged as collateral, was $154.5 million. After adjusting for the letters of credit, the Company's remaining availability under the ABL Facility at December 31, 2015 was $153.7 million.

The Company incurred issuance costs of $3.1 million related to the ABL Facility. These issuance costs are being amortized to interest expense using the effective interest method over the 5 year life of the ABL Facility. From the date it entered into the ABL Facility through December 31, 2015, the Company has recorded $0.4 million of interest expense related to ABL Facility issuance costs. As there is no outstanding draw on the ABL Facility at December 31, 2015, the unamortized issuance costs are presented as a deferred asset on the balance sheet.

Convertible Senior Notes

On May 5, 2015, the Company issued $230 million aggregate principal amount of 2.50% convertible senior notes due 2020 in a registered public offering. The proceeds from the Company's sale of the Notes, net of underwriting discounts and commissions, were $223.1 million. The Company used all of the net proceeds from the Notes offering (together with proceeds from the sale of common stock and borrowings under the ABL Facility) to finance the acquisition of Command.

The Notes bear interest at a rate of 2.50% per year payable semiannually in arrears in cash on May 1 and November 1 of each year, beginning on November 1, 2015. The Notes will mature on May 1, 2020, unless earlier converted or repurchased in accordance with the terms discussed below. The Notes are the Company's senior unsecured obligations and rank senior in right of payment to any of the Company's indebtedness that is expressly subordinated in right of payment to the Notes; equal in right of payment to any of the Company's unsecured indebtedness that is not so subordinated; effectively junior in right of payment to any of the Company's secured indebtedness to the extent of the value of the assets securing such indebtedness; and structurally junior to all indebtedness and other liabilities (including trade payables) of the Company's subsidiaries.

The Notes will be convertible, under certain circumstances and during certain periods, into cash, shares of the Company's common stock, or a combination of cash and shares of common stock at the Company's election, at an initial conversion rate of 25.5428 shares of common stock per $1,000 principal amount of Notes, which is equivalent to an initial conversion price of approximately $39.15 per share of common stock.

Holders may convert their Notes at their option at any time prior to the close of business on the business day immediately preceding January 1, 2020 only under the following circumstances: (1) during any calendar quarter commencing after the calendar quarter ending on June 30, 2015 (and only during such calendar quarter), if the last reported sale price of the common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (2) during the five business day period after any five consecutive trading day period (the ‘‘measurement period’’) in which the trading price per $1,000 principal amount of Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of the Company's common stock and the conversion rate on each such trading day; (3) if the Company calls the Notes for redemption, at any time prior to the close of business on the business day immediately preceding the redemption date; or (4) upon the occurrence of specified corporate events.

If the Company undergoes a fundamental change, subject to certain conditions, holders of the Notes may require the Company to purchase for cash all or a part of their Notes at a repurchase price equal to 100% of the principal amount of Notes to be repurchased, plus accrued and unpaid interest. In addition, following certain corporate events that occur prior to maturity, the Company may increase the conversion rate for a holder who elects to convert its Notes in connection with such a corporate event in certain circumstances. In such event, the conversion rate could increase to a maximum of 34.4827 shares of common stock per $1,000 principal amount of Notes.

On or after January 1, 2020 until the close of business on the business day immediately preceding the maturity date, holders may convert their Notes at any time, regardless of the foregoing circumstances. Upon conversion, the Company will pay or deliver cash, shares of the Company's common stock, or a combination of cash and shares of the Company's common stock, at the Company's election.

The Company's intent and policy will be to settle the $230 million principal amount of Notes in cash, and any excess conversion premium in shares of common stock. As such, the principal amount of the Notes will not be included in the calculation of diluted net income per share, but any conversion premium that exists will be included in the calculation of diluted net income per share using the treasury stock method. As of December 31, 2015, none of the conditions allowing holders of the Notes to convert have been met, and no conversion spread exists. As such, the notes did not have a dilutive impact on diluted net income per share for the year ended December 31, 2015.

The accounting guidance in ASC 470-20, Debt with Conversion and Other Options, requires that the principal amount of the Notes be separated into liability and equity components at issuance. The value assigned to the liability component is the estimated fair value, as of the issuance date, of a similar debt instrument without the conversion feature. The difference between the principal amount of the Notes and the estimated fair value of the liability component, representing the value of the conversion premium assigned to the equity component, is recorded as a debt discount on the issuance date. The fair value of the liability component of the Notes was determined using a discounted cash flow analysis, in which the projected interest and principal payments were discounted back to the issuance date of the Notes at an estimated market yield for a similar debt instrument without the conversion feature. The Company estimated the straight debt yield using a combination of inputs observable in the marketplace, including the credit spread indicated by the terms of the Company's ABL Facility, LIBOR rates, and U.S. Treasury bonds. This represents a Level 2 valuation technique. The Company estimated the straight debt borrowing rates at issuance to be 5.75% for similar debt to the Notes without the conversion feature, which resulted in a fair value of the liability component of $198.5 million and a fair value of the equity component of $31.5 million. The fair value of the equity component was recorded as a debt discount, with the offset recorded as a credit to additional paid-in capital within stockholders' equity. The $31.5 million debt discount and Note issuance costs are being amortized to interest expense under the effective interest method over the 5 year life of the Notes, using an effective interest rate of 6.33%.

The Company allocated the total issuance costs related to the Notes to the liability and equity components based on their relative fair values. Issuance costs attributable to the liability component were recorded on the consolidated balance sheets as a contra-liability that reduces the carrying amount of the convertible note liability. This amount is being amortized to interest expense over the term of the Notes using the effective interest method and an effective interest rate of 6.33%. Issuance costs attributable to the equity component were recorded as a charge to additional paid-in capital within stockholders' equity.

As of December 31, 2015, the carrying amount of the Notes on the balance sheet is $196.7 million, calculated as follows:



	December 31, 2015
Convertible senior notes, principal amount	$	230,000,000
Unamortized debt discount	(27,835,387		)
Unamortized debt issuance costs	(5,505,259		)
Convertible senior notes, net	$	196,659,354

The Notes are carried on the balance sheet at their principal amount, net of the unamortized debt discount and unamortized debt issuance costs, and are not marked to market each period. The approximate fair value of the Notes as of December 31, 2015 was $204.8 million. The fair value of the Notes was estimated based on the trading price of the Notes at December 31, 2015. As trading volume is low, these are quoted prices for identical instruments in markets that are not active, and thus are Level 2 in the fair value hierarchy.

The Company has recognized interest expense related to the Notes of $8.1 million from the issuance date through December 31, 2015, consisting of $3.8 million of contractual coupon interest, $3.6 million of debt discount amortization and $0.7 million of debt issuance cost amortization.

The undiscounted interest and principal payments due in relation to the Notes from December 31, 2015 to the maturity of the Notes on May 1, 2020 are as follows:



	Total		2016	2017	2018	2019	2020
Senior convertible notes, including interest	$	255,875,000	5,750,000	5,750,000	5,750,000	5,750,000	$	232,875,000

Term Loan Facility

On April 20, 2015, the Company entered into a $300 million senior secured term loan facility commitment (the "Term Loan Facility") with Morgan Stanley Senior Funding, Inc., PNC Capital Markets LLC, PNC Bank, National Association, Credit Suisse AG and Credit Suisse Securities (USA) LLC. The purpose of the Term Loan Facility was to ensure that the Company had committed funding to consummate the Command acquisition if the Notes and common stock offerings did not raise sufficient cash to fund the acquisition. As the Notes and common stock offerings were successfully completed, the Company did not draw any amounts on the Term Loan Facility. The Term Loan Facility commitment expired after the successful issuance of the Notes and common stock, and thus the $2.0 million paid to secure the Term Loan Facility commitment was charged to interest expense in the second quarter of 2015.

Commitments and Contingencies (Notes)

12 Months Ended

Dec. 31, 2015

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies Disclosure [Text Block]

Commitments and Contingencies

Leases

In April 2007, the Company entered into an operating lease agreement for an office facility, which was amended in 2013. The amended lease agreement expires in November 2020 and has escalating base monthly rental payments, plus an additional monthly payment for real estate taxes and common area maintenance fees related to the building.

During 2015 and 2014, the Company also assumed contractual operating lease obligations through acquisitions, which consisted primarily of building operating leases expiring at various dates through 2020.

The Company recognizes operating lease rental expense on a straight-line basis over the term of the lease. The total rental expense for the years ended December 31, 2015, 2014 and 2013 was $5,620,731, $4,361,734 and $3,821,934, respectively.

Future minimum annual rental payments for the next five years and thereafter are as follows:



	Operating Leases
2016	$	6,551,203
2017	6,238,739
2018	4,923,271
2019	4,103,449
2020	3,626,337
Thereafter	1,199,501
	$	26,642,500

Income Taxes (Notes)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Income Taxes

The Company accounts for income taxes and related uncertain tax positions in accordance with ASC Topic 740. For the years ended December 31, 2015 and 2014, the Company recognized a net decrease and increase of $112,599 and $182,385, respectively, in unrecognized tax benefits. The Company's policy is to recognize interest and penalties on unrecognized tax benefits as a component of income tax expense. The Company has recorded interest on its unrecognized tax benefits in 2015 and 2014. The following is a reconciliation of the total amounts of unrecognized tax benefits excluding interest and penalties for the years ended December 31, 2015 and 2014:



	2015			2014
Balance at January 1	$	595,938		$	337,983
Gross (decrease)/increase — current period tax positions	(175,029		)	257,955
Balance at December 31	$	420,909		$	595,938

The Company does not believe it will have any significant changes in the amount of unrecognized tax benefits in the next 12 months. The total amount of the unrecognized tax benefits, if recognized, for the years ended December 31, 2015 and 2014, respectively, would affect the effective tax rate. The Company files income tax returns in the U.S. federal jurisdiction and various state jurisdictions. With few exceptions, the Company is no longer subject to U.S. federal examinations by tax authorities for years before 2009, and state and local income tax examinations, by tax authorities for years before 2009.

The provision for income taxes consists of the following components for the years ended December 31, 2015, 2014 and 2013:



	2015			2014		2013
Current:
Federal	$	3,889,649		$	8,326,480	$	6,928,141
State	(202,270		)	1,435,511		1,084,663
Total current	3,687,379			9,761,991		8,012,804
Deferred:
Federal	(23,265		)	560,345		404,395
State	18,143			169,255		228,289
Total deferred	(5,122		)	729,600		632,684
Income tax expense	$	3,682,257		$	10,491,591	$	8,645,488

The provision for income taxes for the years ended December 31, 2015, 2014 and 2013 differs from the amount computed by applying the U.S. federal income tax rate of 35% to pretax income because of the effect of the following items:



	2015			2014			2013
Tax expense at U.S. federal income tax rate	$	4,034,776		$	9,547,702		$	7,996,836
State income taxes, net of federal income tax effect	36,308			951,284			751,257
Nondeductible expenses and other	119,705			176,878			71,282
Effect of state rate change on deferred items	(25,338		)	8,402			18,570
Research and development credit	(364,050		)	(360,584		)	(449,679		)
Changes in unrecognized tax benefits	(112,599		)	182,385			166,432
Provision to return adjustments	(6,545		)	(14,476		)	90,790
	$	3,682,257		$	10,491,591		$	8,645,488

As discussed in Footnote 3 (New Accounting Pronouncements), the FASB issued ASU 2015-17, Balance Sheet Classification of Deferred Taxes ("ASU 2015-17") in November 2015 . This guidance requires companies to classify all deferred tax assets and liabilities as noncurrent on the balance sheet, instead of separating deferred taxes into current and noncurrent amounts. The Company is applying the new guidance on a prospective basis. As such, prior periods are not retrospectively adjusted.

At December 31, 2015, the Company's noncurrent deferred tax assets and liabilities, after applying the new guidance, consisted of the following:



	2015
Noncurrent deferred tax assets:
Reserves and allowances	$	2,142,123
Stock options	6,063,284
Total noncurrent deferred tax assets	8,205,407
Noncurrent deferred tax liabilities:
Prepaid and other expenses	1,342,674
Intangible assets	1,631,816
Property and equipment	7,529,641
Convertible debt	10,221,324
Total noncurrent deferred tax liabilities	20,725,455
Net deferred tax liability	$	(12,520,048	)

At December 31, 2014, the Company's deferred tax assets and liabilities consisted of the following:



	2014
Current deferred tax assets:
Reserves and allowances	$	2,018,366
Noncurrent deferred tax assets:
Intangible assets	474,638
Stock options	2,450,556
Total noncurrent deferred tax assets	2,925,194
Total deferred tax assets	4,943,560
Total current deferred tax liability:
Prepaid and other expenses	1,023,195
Noncurrent deferred tax liabilities:
Property and equipment	6,738,462
Research and development credit	520,367
Total noncurrent deferred tax liabilities	7,258,829
Total deferred tax liabilities	8,282,024
Net deferred tax liability	$	(3,338,464	)

As of December 31, 2015, the Company does not have a net operating loss carryforward.

Stockholders' Equity	12 Months Ended
Stockholders' Equity	Dec. 31, 2015
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity Preferred Stock The Board of Directors has the authority to issue up to 2,500,000 shares of preferred stock in one or more series and to establish the preferred stock's voting powers, preferences and other rights and qualifications without any further vote or action by the stockholders. As of December 31, 2015, there was no preferred stock outstanding. Treasury Stock On December 29, 2015, the Board of Directors authorized a repurchase program for up to an aggregate of $50.0 million of the Company's outstanding common stock and Notes through December 31, 2017. The timing and amount of any repurchases will be determined based on market conditions and other factors, and the program may be discontinued or suspended at any time. As of December 31, 2015, the Company has repurchased 37,937 shares of common stock at a cost of $784,829.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 4.E)
-URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29-31)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 4
-Subparagraph (SAB TOPIC 4.C)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section C

+ Details

Earnings Per Share (Notes)

12 Months Ended

Dec. 31, 2015

Earnings Per Share [Abstract]

Earnings Per Share

Basic earnings per common share is calculated by dividing net income by the weighted average number of common shares outstanding. Diluted earnings per share is calculated by dividing net income by the weighted average shares outstanding plus share equivalents that would arise from the exercise of share options and the vesting of restricted stock. There were no employee stock options excluded from the calculation of diluted earnings per share for the years ended December 31, 2015, 2014, and 2013. The computation of basic and diluted earnings per common share for the years ended December 31, 2015, 2014 and 2013 are as follows:



	Year Ended December 31,
	2015		2014		2013
Numerator:
Net income	$	7,845,674	$	16,787,558	$	14,202,614
Denominator:
Denominator for basic earnings per share - weighted-average shares	27,473,054		23,044,029		22,860,661
Effect of dilutive securities:
Employee stock options	636,495		590,312		543,322
Denominator for dilutive earnings per share	28,109,549		23,634,341		23,403,983
Basic net income per common share	$	0.29	$	0.73	$	0.62
Diluted net income per common share	$	0.28	$	0.71	$	0.61

Stock Based Compensation Plans (Notes)

12 Months Ended

Dec. 31, 2015

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

Stock-Based Compensation Plans

In March 2005, the Company adopted the 2005 Stock Option Plan providing for the issuance of stock options of Series A common shares. During the fourth quarter of 2009, the Company adopted the 2008 Stock Incentive Plan ("the 2008 Plan"). Upon adoption, the 2005 Stock Option Plan was merged into the 2008 Plan and ceased to separately exist. Outstanding awards under the 2005 Stock Option Plan are now subject to the 2008 Plan and no additional awards may be made under the 2005 Stock Option Plan on or after the effective date of the 2008 Plan. A total of 1,400,000 shares of common stock have been reserved for issuance under the 2008 Plan. The 2008 Plan is administered by the Board of Directors who determine the type of award, exercise price of options, the number of options to be issued, and the vesting period. As specified in the 2008 Plan, the exercise price per share shall not be less than the fair market value on the effective date of grant. Upon exercise of a stock option under the 2008 Plan, new stock is issued. The term of an option does not exceed 10 years, and the options generally vest ratably over one to five years from the date of grant. Under the 2008 Plan, two types of stock incentives have been issued: stock option awards and restricted stock awards.

In 2015, the Company awarded 677,091 shares of restricted stock to certain employees and directors, of which 355,532 will vest ratably over one year, 12,631 will vest ratably over two years, 2,144 will vest ratably over 2.5 years, 102,523 will vest ratably over three years and 204,261 will vest ratably over 4 years based on the employees' continued employment. The grant date fair value of the restricted stock granted ranged from $21.50 to $32.52.

In 2014, the Company awarded 184,157 shares of restricted stock to certain employees and directors, of which 10,312 will vest ratably over 2.5 years and 173,845 will vest ratably over 4 years based on the employees' continued employment. The grant date fair value of the restricted stock granted ranged from $16.10 to $27.48.

There was $17,729,906 and $8,068,512 of total unrecognized compensation cost related to the stock-based compensation granted under the plans as of December 31, 2015 and 2014, respectively. This cost is expected to be recognized over a weighted-average period of 2.96 years.

In June 2015, the Company adopted the 2015 Inducement and Retention Stock Plan for Command Employees, providing for the issuance of 335,882 shares of restricted common stock of the Company to 33 employees of Command and 100,766 shares of restricted common stock and 67,178 shares of performance stock to two of the sellers who entered into new employment agreements with the Company, each as employment inducement awards pursuant to NASDAQ Listing Rule 5635(c)(4). These restricted stock grants are included in the 677,091 shares of restricted stock mentioned above.

Stock Option Awards

There were no stock options granted during 2015 and 2014. The Company's 2013 stock option grant and all previous stock option grants were valued using the Black-Scholes-Merton option valuation model. The Company recorded $226,050, $479,921 and $664,909 in compensation expense with corresponding tax benefits of $88,160, $187,169 and $259,314 for stock option awards for the years ended December 31, 2015, 2014 and 2013, respectively.

A summary of stock option activity is as follows:



	Shares		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Outstanding at January 1, 2013	1,244,876		$	9.01	6.0	$	11,145,479
Granted	3,000		17.94
Exercised	(112,990	)	10.00			1,296,867
Forfeited or canceled	(35,660	)	11.99
Outstanding at December 31, 2013	1,099,226		$	8.83	5.0	$	13,899,986
Granted	—		—
Exercised	(173,727	)	6.20			3,995,095
Forfeited or canceled	(3,610	)	12.20
Outstanding at December 31, 2014	921,889		$	9.32	4.2	$	18,329,554
Granted	—		—
Exercised	(150,701	)	7.02			2,014,921
Forfeited or canceled	(1,660	)	12.01
Outstanding at December 31, 2015	769,528		$	9.76	3.36	$	8,178,882
Options vested and exercisable at December 31, 2015	747,478		$	9.69	3.31	$	7,997,359

The following table provides information about stock options granted and vested in the years ended December 31:



	2015		2014		2013
Options granted:
Exercise price per share of options granted	—		—		$	17.94
Options vested/exercisable:
Grant date fair value of options vested	$	2,950,446	$	3,250,365	$	3,059,084
Aggregate intrinsic value of options vested and exercisable at end of period	$	7,997,359	$	17,827,707	$	12,640,576

The aggregate intrinsic value of options outstanding represents the total pretax intrinsic value (the difference between the fair value of the Company's stock on the last day of each fiscal year and the exercise price, multiplied by the number of options where the exercise price exceeds the fair value) that would have been received by the option holders had all option holders exercised their options as of December 31, 2015, 2014 and 2013, respectively. These amounts change based on the fair market value of the Company's stock, which was $20.39, $29.20 and $21.48 on the last business day of the years ended December 31, 2015, 2014 and 2013, respectively. The weighted-average grant-date fair market value for 2013 option grants was $6.29.

Restricted Stock Awards

In 2015, the Company awarded restricted shares to certain key employees that vest based on their continued employment. The value of these awards was established by the market price on the grant date and is being expensed ratably over the vesting period of the awards. The following table summarizes these non-vested restricted share grants as of December 31, 2015:



	Number of Restricted Shares		Weighted Average Grant Date Fair Value
Non-vested at December 31, 2014	563,695		$	17.73
Granted	677,091		30.80
Vested	(209,510	)	17.49
Forfeitures	(80,490	)	19.97
Non-vested at December 31, 2015	950,786		$	26.90

In 2015, 2014 and 2013, the Company recorded $11,821,382, $3,520,439 and $2,673,769 in compensation expense with corresponding tax benefits of $4,610,339, $1,372,971 and $1,042,770 for restricted stock awards, respectively.

Performance Based Shares

In 2015, the Company granted 67,178 shares of performance stock at a grant date fair value of $32.52 to two of the sellers of Command, who entered into new employment agreements with the Company. In accordance with ASC 718-10-20 Compensation - Stock Compensation, the Company evaluated whether the shares would be earned at December 31, 2015. The Company does expect the financial targets, which need to be achieved in order for the shares to vest, to be met. As a result, the Company recognized $424,789 in stock compensation expense with corresponding tax benefits of $165,668 for the year ended December 31, 2015.

The Company granted 34,328 shares of performance stock to key executives during the year ended December 31, 2013. In accordance with ASC 718-10-20 Compensation - Stock Compensation, the Company evaluated whether the shares would be earned at December 31, 2015 and December 31, 2014. The Company does not expect the financial targets, which need to be achieved in order for the shares to vest, to be met. As a result, none of the performance based shares will be earned and there was no expense recognized for the years ended December 31, 2015 and December 31, 2014.

Performance and Market-Based Stock

In 2014