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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
OPERATING ACTIVITIES    
Net income $ 118,095 $ 58,942
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 82,408 78,286
Deferred income taxes 2,171 (8,623)
Stock-based compensation 504 959
Amortization of Debt Issuance Costs 90 0
Gain on disposal of property and equipment (92,806) (27,341)
Changes in certain working capital items:    
Trade receivables (3,200) (2,961)
Prepaid expenses and other current assets (655) 3,041
Accounts payable, accrued liabilities, and accrued expenses (1,725) (9,231)
Accrued income taxes 7,668 2,622
Net cash provided by operating activities 112,550 95,694
INVESTING ACTIVITIES    
Proceeds from sale of property and equipment 146,376 98,421
Purchases of property and equipment (91,818) (93,213)
Payments to Acquire Businesses, Net of Cash Acquired (675,852) 0
Change in other assets (159) (181)
Net cash (used in) provided by investing activities (621,453) 5,027
FINANCING ACTIVITIES    
Payments of cash dividends (3,157) (3,198)
Proceeds from Issuance of Long-term Debt 447,343 0
Shares withheld for employee taxes related to stock-based compensation (75) (190)
Repayments on finance leases and debt (29,195) 0
Repurchases of common stock 0 (31,422)
Net cash provided by (used in) financing activities 414,916 (34,810)
Net increase (decrease) in cash, cash equivalents and restricted cash (93,987) 65,911
CASH, CASH EQUIVALENTS AND RESTRICTED CASH    
Beginning of period 173,767 131,140
Ending Period 79,780 197,051
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Interest Paid, Excluding Capitalized Interest, Operating Activities 989 0
Cash paid during the period for income taxes, net of refunds 32,695 26,455
Noncash investing and financing activities:    
Fair value of revenue equipment traded 428 0
Purchased property and equipment in accounts payable 4,430 3,258
Sold revenue equipment and property in other current assets 3,058 1,423
Common stock dividends declared in accounts payable 1,580 41,095
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability 3,985 0
Right-of-use assets obtained in exchange for operating lease liabilities through acquisitions 20,371 0
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH    
Cash and Cash Equivalents, at Carrying Value 64,824 180,366
Restricted Cash and Investments, Current 880 932
Restricted Cash and Cash Equivalents, Noncurrent 14,076 15,753
Ending Period $ 79,780 $ 197,051