XML 16 R3.htm IDEA: XBRL DOCUMENT v3.24.3
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Total revenue $ 1,876,676 $ 2,019,936 $ 5,545,797 $ 5,209,847
Operating expenses:        
Salaries, wages, and benefits 726,358 710,543 2,111,143 1,780,522
Fuel 213,489 272,376 670,651 628,435
Operations and maintenance 142,418 142,913 415,302 343,604
Insurance and claims 86,510 148,865 314,394 424,210
Operating taxes and licenses 32,220 30,506 93,923 84,728
Communications 8,411 8,411 24,208 20,344
Depreciation and amortization of property and equipment 178,598 176,613 539,313 488,960
Amortization of intangibles 18,922 18,907 56,009 51,595
Rental expense 42,322 50,401 129,248 81,542
Purchased transportation 295,261 330,683 859,286 869,671
Impairments 1,008 0 10,867 0
Miscellaneous operating expenses 49,739 48,662 156,018 116,363
Total operating expenses 1,795,256 1,938,880 5,380,362 4,889,974
Operating income 81,420 81,056 165,435 319,873
Other (expenses) income:        
Interest income 4,005 5,542 12,844 16,099
Interest Expense, Nonoperating (44,398) (39,354) (126,116) (86,799)
Other income, net 3,169 11,433 17,049 30,815
Total other (expenses) income, net (37,224) (22,379) (96,223) (39,885)
Income before income taxes 44,196 58,677 69,212 279,988
Income tax expense (benefit) 14,137 (1,220) 22,253 53,474
Net income 30,059 59,897 46,959 226,514
Net loss attributable to noncontrolling interest 405 297 1,170 1,290
Net income attributable to Knight-Swift 30,464 60,194 48,129 227,804
Other comprehensive income 995 152 998 1,772
Comprehensive income $ 31,459 $ 60,346 $ 49,127 $ 229,576
Earnings per share:        
Basic (in dollars per share) $ 0.19 $ 0.37 $ 0.30 $ 1.41
Diluted (in dollars per share) 0.19 0.37 0.30 1.41
Dividends declared per share: (in dollars per share) $ 0.16 $ 0.14 $ 0.48 $ 0.42
Weighted average shares outstanding:        
Basic (in shares) 161,861 161,332 161,687 161,124
Diluted (in shares) 162,233 161,888 162,120 161,782
Revenue, excluding truckload and LTL fuel surcharge        
Total revenue $ 1,680,893 $ 1,775,249 $ 4,935,408 $ 4,615,990
Truckload and LTL fuel surcharge        
Total revenue $ 195,783 $ 244,687 $ 610,389 $ 593,857