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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities    
Net loss $ (11,802) $ (1,486)
Adjustments to reconcile net loss to net cash provided by operating activities    
Depreciation 49,109 45,973
Amortization of intangible assets 4,649 4,542
Amortization of deferred financing fees 1,330 934
Write-off of deferred financing fees 3,883  
Stock-based compensation expense 1,201  
Deferred taxes (4,849) (245)
Bad debt expense 347 176
Non-cash interest expense 92 805
(Gain) loss on disposition of property and equipment (513) 158
Deferred gain recognized on sales-type leases (793) (532)
Impairment of revenue equipment   1,195
Changes in operating assets and liabilities:    
Accounts receivable (28,567) (7,156)
Drivers' advances and other receivables 547 (274)
Payments received on sales-type leases 3,774 2,776
Other current assets (339) 3,524
Accounts payable 2,911 894
Accrued expenses and other liabilities 5,478 (2,176)
Net cash provided by operating activities 26,458 49,108
Cash flows from investing activities    
Purchase of property and equipment (15,565) (3,143)
Proceeds from sale of property and equipment 5,252 4,424
Cash paid in acquisitions, net of cash acquired (91,133)  
Net cash provided by (used in) investing activities (101,446) 1,281
Cash flows from financing activities:    
Checks outstanding in excess of bank balances 313 317
Advances on line of credit 543,404 528,664
Repayments on line of credit (550,261) (528,603)
Principal payments on and payoff of long-term debt (231,817) (59,656)
Proceeds from Term Loan Facility 350,000 14,188
Deferred financing fees 14,411 1,788
Payments on subordinated debt (66,715)  
Issuance of common stock 128,184  
Repurchase of common stock (36,168)  
Issuance of Series A convertible preferred stock 65,000  
Net cash provided by (used in) financing activities 183,833 (50,506)
Effect of exchange rates on cash and cash equivalents (30)  
Net increase (decrease) in cash and cash equivalents 108,815 (117)
Cash and cash equivalents – beginning of period 3,695 4,886
Cash and cash equivalents – end of period 112,510 4,769
Supplemental disclosure of cash flow information    
Cash paid for interest 20,916 15,637
Cash paid for income taxes 629 942
Noncash investing and financing activities    
Property and equipment acquired with debt or capital lease obligations 13,609 32,517
Property and equipment sold for notes receivable 412 408
Property and equipment transferred to sales-type lease 7,042 6,193
Assets held for sale returned to property and equipment   351
Sales-type lease returns to property and equipment 724 1,188
Sales-type lease assets sold for notes receivable 21,488 18,609
Sales-type lease returns to sales-type lease assets 13,795 12,026
Series A    
Cash flows from financing activities:    
convertible preferred stock dividends (1,680)  
Noncash investing and financing activities    
Common stock issued in acquisitions 11,079  
Accrued convertible preferred dividends 1,239  
Series B    
Cash flows from financing activities:    
convertible preferred stock dividends $ (2,016) (3,628)
Noncash investing and financing activities    
Accrued convertible preferred dividends   $ 1,378