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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 60,215 $ 82,486
Cash and cash equivalents – restricted [1] 50,689 46,888
Restricted investments, held-to-maturity, amortized cost [2] 11,640 17,413
Trade receivables, net of allowance for doubtful accounts of $17,872 and $16,355, respectively ¹ [3] 555,930 616,830
Prepaid expenses 74,707 [4] 67,011 [5]
Assets held for sale 32,332 39,955
Income tax receivable 1,399 6,943
Other current assets 26,550 29,706
Total current assets 813,462 907,232
Gross property and equipment 3,377,112 3,305,944
Less: accumulated depreciation and amortization (753,389) (693,107)
Property and equipment, net 2,623,723 2,612,837
Operating lease right-of-use assets 252,900 [6] 0 [7]
Goodwill 2,919,222 2,919,176
Intangible assets, net 1,410,227 1,420,919
Other long-term assets 61,608 [4] 51,721 [5]
Total assets 8,081,142 7,911,885
Current liabilities:    
Accounts payable 158,646 [4] 117,883 [5]
Accrued payroll and purchased transportation 118,063 126,464
Accrued liabilities 167,813 [4] 151,500 [5]
Claims accruals – current portion 155,394 160,044
Finance lease liabilities and long-term debt – current portion 52,893 58,672
Operating lease liabilities – current portion 109,158 [6] 0 [7]
Total current liabilities 761,967 614,563
Revolving line of credit 60,000 195,000
Long-term debt – less current portion 364,649 364,590
Finance lease liabilities – less current portion 68,215 71,248
Operating lease liabilities – less current portion 151,634 [6] 0 [7]
Accounts receivable securitization 174,645 239,606
Claims accruals – less current portion 207,417 201,327
Deferred tax liabilities 730,516 [8] 739,538 [9]
Other long-term liabilities 17,476 [4] 23,294 [5]
Total liabilities 2,536,519 2,449,166
Commitments and contingencies (Notes 11 and 12)
Stockholders’ equity:    
Preferred stock, par value $0.01 per share; 10,000 shares authorized; none issued 0 0
Common stock, par value $0.01 per share; 500,000 shares authorized; 173,066 and 172,844 shares issued and outstanding as of March 31, 2019 and December 31, 2018, respectively. 1,730 1,728
Additional paid-in capital 4,248,188 4,242,369
Retained earnings 1,292,838 1,216,852
Total Knight-Swift stockholders' equity 5,542,756 5,460,949
Noncontrolling interest 1,867 1,770
Total stockholders’ equity 5,544,623 5,462,719
Total liabilities and stockholders’ equity 8,081,142 7,911,885
Common Class A [Member]    
Stockholders’ equity:    
Total stockholders’ equity $ 1,730 $ 1,728
[1] Reflects cash and cash equivalents that are primarily restricted for claims payments.
[2] Refer to Note 5 for discussion about the differences between the carrying amounts and estimated fair values of the Company's restricted investments, held-to-maturity.
[3] Includes in-transit revenue balances of $20.1 million and $15.6 million as of March 31, 2019 and December 31, 2018, respectively.
[4] Refer to tabular footnote (2) under "Adoption Date Impact" above.
[5] The effect of adopting ASC Topic 842 reflects certain reclassifications to adjust the right-of-use assets.
[6] Refer to tabular footnote (1) under "Adoption Date Impact" above.
[7] These new line items on the condensed consolidated balance sheets represent the capitalization of the Company's operating leases as lessee.
[8] Refer to tabular footnote (3) under "Adoption Date Impact" above.
[9] Amounts are reflective of deferred tax impacts from capitalizing the Company's operating leases