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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities      
Net income (loss) $ (17.7) $ 50.2 $ 56.0
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 100.1 85.9 81.2
Amortization of intangible assets 6.4 6.9 6.9
Amortization of deferred financing fees 2.1 1.3 2.9
Non-cash operating lease expense (0.1) 0.0 0.8
Change in fair value of warrant liability 0.0 (4.7) (1.6)
Stock-based compensation expense 8.5 11.5 8.6
Deferred taxes (2.0) 10.9 14.7
Bad debt expense (recovery) 0.0 0.7 (0.3)
Gain on disposition of property and equipment (12.3) (21.0) (17.1)
Impairment 17.9 9.4 0.0
Changes in operating assets and liabilities      
Accounts receivable 21.5 (4.7) (17.7)
Drivers' advances and other receivables (2.7) (2.6) 0.9
Other current assets 3.1 (13.1) 3.9
Income tax receivable (2.2) 0.0 0.0
Accounts payable (0.3) 0.1 (1.8)
Accrued expenses and other liabilities (3.6) 6.2 7.3
Net cash provided by operating activities 118.7 137.0 144.7
Cash flows from investing activities      
Purchase of property and equipment (30.3) (42.1) (53.7)
Proceeds from sale of property and equipment 31.0 40.9 58.6
Cash paid for acquisitions, net of cash received 0.0 (19.1) 0.0
Net cash provided by (used in) investing activities 0.7 (20.3) 4.9
Cash flows from financing activities:      
Advances on line of credit 1,644.9 1,831.3 1,656.3
Repayments on line of credit (1,644.9) (1,831.3) (1,656.3)
Principal payments on long-term debt (166.5) (71.7) (247.4)
Proceeds from long-term debt 0.0 0.0 97.5
Payments of deferred financing fees 0.0 0.0 (3.4)
Repurchase of common stock 0.0 (44.9) (20.4)
Exercise of stock options, net 0.1 0.8 0.5
Exercise of warrants 0.0 9.4 0.0
Net cash used in financing activities (196.4) (111.4) (178.2)
Effect of exchange rates on cash and cash equivalents 0.2 0.6 (0.1)
Net (decrease) increase in cash and cash equivalents (76.8) 5.9 (28.7)
Cash and cash equivalents - beginning of period 153.4 147.5 176.2
Cash and cash equivalents - end of period 76.6 153.4 147.5
Supplemental disclosure of cash flow information      
Cash paid for interest 50.0 34.3 29.6
Cash paid for income taxes 6.2 22.0 10.4
Noncash investing and financing activities      
Property and equipment acquired with debt or finance lease obligations 157.4 145.3 64.7
Property and equipment sold for notes receivable 0.0 0.0 0.5
Right-of-use assets acquired 31.5 36.0 23.6
Accrued share repurchase excise taxes 0.1 0.0 0.0
Series B perpetual preferred stock      
Noncash investing and financing activities      
Accrued Series B perpetual preferred stock dividend 0.0 0.7 0.0
Series A      
Cash flows from financing activities:      
Convertible preferred stock dividends (5.0) (5.0) (5.0)
Series B      
Cash flows from financing activities:      
Convertible preferred stock dividends (5.0) 0.0 $ 0.0
Series B perpetual preferred stock redemption $ (20.0) $ 0.0