XML 23 R7.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net earnings $ 969,351 $ 760,806 $ 506,035
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization 644,520 557,093 527,375
Noncash lease expense 83,797 55,137 45,985
Share-based compensation 77,535 61,505 60,698
(Gain)/loss on sale of revenue equipment and other (25,422) 5,540 4,389
Deferred income taxes 175,089 53,420 (7,056)
Changes in operating assets and liabilities:      
Trade accounts receivable (13,950) (382,216) (109,758)
Income taxes receivable or payable (69,025) (30,633) 57,851
Other current assets (83,892) (15,252) (18,038)
Trade accounts payable (23,838) 140,295 (5,482)
Claims accruals 117,887 35,051 (9,072)
Accrued payroll and other accrued expenses (75,170) (16,848) 69,932
Net cash provided by operating activities 1,776,882 1,223,898 1,122,859
Cash flows from investing activities:      
Additions to property and equipment (1,540,796) (947,563) (738,545)
Proceeds from sale of equipment 108,901 70,545 137,776
Business acquisition (118,175) 0 (12,136)
Change in other assets 0 0 (52)
Net cash used in investing activities (1,550,070) (877,018) (612,957)
Cash flows from financing activities:      
Payments on long-term debt (350,000) 0 0
Proceeds from revolving lines of credit and other 1,738,100 0 222,124
Payments on revolving lines of credit and other (1,420,600) 0 (220,100)
Purchase of treasury stock (300,030) (151,720) (92,548)
Stock repurchased for payroll taxes and other (31,180) (28,471) (26,842)
Dividends paid (166,724) (124,442) (114,234)
Net cash used in financing activities (530,434) (304,633) (231,600)
Net (decrease)/increase in cash and cash equivalents (303,622) 42,247 278,302
Cash and cash equivalents at beginning of year 355,549 313,302 35,000
Cash and cash equivalents at end of year 51,927 355,549 313,302
Supplemental disclosure of cash flow information:      
Interest 50,433 47,016 48,351
Income taxes 195,827 203,740 95,454
Noncash investing activities      
Accruals for equipment received $ 107,474 $ 60,464 $ 12,533