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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
OPERATING ACTIVITIES    
Net (loss) income $ (15,108) $ 12,612
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 46,504 48,469
Deferred income taxes (9,178) (8,659)
Stock-based compensation expense 283 152
Debt-related amortization 263 269
Loss (gain) on disposal of property and equipment 89 (6,786)
Changes in certain working capital items:    
Trade receivables (5,192) 13,649
Prepaid expenses and other current assets 2,586 4,864
Accounts payable, accrued liabilities, and accrued expenses 5,732 (10,978)
Accrued income taxes 4,997 12,850
Net cash provided by operating activities 30,976 66,442
INVESTING ACTIVITIES    
Proceeds from sale of property and equipment 6,649 28,859
Purchases of property and equipment (4,697) (42,149)
Change in other assets 0 489
Net cash provided by (used in) investing activities 1,952 (12,801)
FINANCING ACTIVITIES    
Shares withheld for employee taxes related to stock-based compensation (63) (41)
Repayments of finance leases and debt (36,660) (47,325)
Net cash used in financing activities (36,723) (47,366)
Net (decrease) increase in cash, cash equivalents and restricted cash (3,795) 6,275
CASH, CASH EQUIVALENTS AND RESTRICTED CASH    
Beginning of period 41,188 64,478
End of period 37,393 70,753
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid during the period for interest expense 5,289 6,121
Cash paid during the period for income taxes, net of refunds (77) 232
Noncash investing and financing activities:    
Purchased property and equipment in accounts payable 4,812 2,059
Sold revenue equipment and property in other current assets 0 232
Common stock dividends declared in accounts payable 1,582 1,581
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH    
Cash and cash equivalents 23,823 55,506
Restricted cash included in other current assets 323 746
Restricted cash included in other assets 13,247 14,501
Total cash, cash equivalents and restricted cash $ 37,393 $ 70,753