XML 67 R7.htm IDEA: XBRL DOCUMENT v3.20.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities    
Net loss $ (17.3) $ (9.3)
Adjustments to reconcile net loss to net cash provided by operating activities    
Depreciation 24.5 37.2
Amortization of intangible assets 1.8 4.3
Amortization of deferred financing fees 1.1 0.7
Non-cash operating lease expense 2.9 6.6
Stock-based compensation expense 0.9 1.0
Deferred taxes (3.8) (1.9)
Bad debt expense 0.9 0.1
Gain on disposition of property and equipment (1.2) (0.4)
Impairment 13.4  
Changes in operating assets and liabilities    
Accounts receivable 1.3 (8.9)
Drivers’ advances and other receivables (0.2) (2.8)
Prepaid and other current assets (4.0) 1.9
Accounts payable 2.2 7.5
Accrued expenses and other liabilities 7.2 0.4
Net cash provided by operating activities 29.7 36.4
Cash flows from investing activities    
Purchases of property and equipment (4.5) (3.9)
Proceeds from sale of property and equipment 5.8 4.6
Net cash provided by investing activities 1.3 0.7
Cash flows from financing activities:    
Advances on line of credit 351.0 314.7
Repayments on line of credit (352.7) (314.7)
Principal payments on long-term debt (17.1) (19.3)
Series A convertible preferred stock dividends (1.2) (1.2)
Net cash used in financing activities (20.0) (20.5)
Effect of exchange rates on cash and cash equivalents 0.8 (0.2)
Net increase in cash and cash equivalents 11.8 16.4
Cash and cash equivalents – beginning of period 95.7 46.0
Cash and cash equivalents – end of period 107.5 62.4
Supplemental disclosure of cash flow information    
Cash paid for interest 10.9 11.7
Cash paid for income taxes 0.2  
Noncash investing and financing activities    
Property and equipment acquired with debt or finance lease obligations 9.8 25.1
Property and equipment sold for notes receivable   0.4
Right-of-use assets acquired $ 19.1 $ 8.1