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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 204,762 $ 168,545
Cash and cash equivalents – restricted [1] 136,174 297,275
Restricted investments, held-to-maturity, amortized cost 0 530
Trade receivables, net of allowance for doubtful accounts of $40,739 and $39,458, respectively 867,610 888,603
Contract balance – revenue in transit 13,622 12,246
Prepaid expenses 137,105 148,696
Assets held for sale 78,918 83,366
Income tax receivable 58,273 65,815
Other current assets 35,707 43,939
Total current assets 1,532,171 1,709,015
Gross property and equipment 6,782,857 6,720,610
Less: accumulated depreciation and amortization (2,205,709) (2,104,211)
Property and equipment, net 4,577,148 4,616,399
Operating lease right-of-use-assets 443,002 484,821
Goodwill 3,873,131 3,848,798
Intangible assets, net 2,040,339 2,058,882
Other long-term assets 163,079 152,850
Total assets 12,628,870 12,870,765
Current liabilities:    
Accounts payable 283,837 355,173
Accrued payroll and purchased transportation 153,996 164,884
Accrued liabilities 224,749 220,350
Claims accruals – current portion 350,030 480,200
Finance lease liabilities and long-term debt – current portion 505,841 459,759
Operating lease liabilities – current portion 124,840 144,921
Total current liabilities 1,643,293 1,825,287
Revolving line of credit 202,000 67,000
Long-term debt – less current portion 1,193,602 1,223,021
Finance lease liabilities – less current portion 375,666 407,150
Operating lease liabilities – less current portion 342,320 371,407
Accounts receivable securitization 453,567 526,508
Claims accruals – less current portion 303,743 315,476
Deferred tax liabilities 930,629 951,749
Other long-term liabilities 111,828 79,086
Total liabilities 5,556,648 5,766,684
Commitments and contingencies (Notes 7, 8, and 9)
Stockholders’ equity:    
Preferred stock, par value $0.01 per share; 10,000 shares authorized; none issued $ 0 $ 0
Preferred stock, par value (in dollars per share) $ 0.01 $ 0.01
Preferred stock, shares authorized (in shares) 10,000 10,000
Preferred stock, shares issued (in shares) 0 0
Common stock, par value $0.01 per share; 500,000 shares authorized; 161,593 and 161,385 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively. $ 1,616 $ 1,613
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 500,000 500,000
Common stock, shares issued (in shares) 161,593 161,385
Common stock, shares outstanding (in shares) 161,593 161,385
Additional paid-in capital $ 4,430,736 $ 4,426,852
Accumulated other comprehensive loss (868) (830)
Retained earnings 2,624,666 2,659,755
Total Knight-Swift stockholders' equity 7,056,150 7,087,390
Noncontrolling interest 16,072 16,691
Total stockholders’ equity 7,072,222 7,104,081
Total liabilities and stockholders’ equity $ 12,628,870 $ 12,870,765
Common Class A [Member]    
Stockholders’ equity:    
Common stock, shares outstanding (in shares) 161,593 161,385
[1] Reflects cash and cash equivalents that are primarily restricted for claims payments.