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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
OPERATING ACTIVITIES    
Net (loss) income $ (18,586) $ 20,383
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 92,642 96,806
Deferred income taxes (15,733) (13,440)
Stock-based compensation expense 682 393
Debt-related amortization 525 539
Loss (gain) on disposal of property and equipment (1,034) (14,809)
Changes in certain working capital items:    
Trade receivables (6,173) 25,348
Prepaid expenses and other current assets (647) 6,193
Accounts payable, accrued liabilities, and accrued expenses 14,069 (19,086)
Accrued income taxes 5,221 (5,071)
Net cash provided by operating activities 70,966 97,256
INVESTING ACTIVITIES    
Proceeds from sale of property and equipment 12,583 73,838
Purchases of property and equipment (15,244) (108,017)
Change in other assets 30 419
Net cash used in investing activities (2,631) (33,760)
FINANCING ACTIVITIES    
Payments of cash dividends (1,582) (1,581)
Shares withheld for employee taxes related to stock-based compensation (158) (155)
Repayments of finance leases and debt (63,358) (64,773)
Repurchases of common stock (7,281) 0
Net cash used in financing activities (72,379) (66,509)
Net decrease in cash, cash equivalents and restricted cash (4,044) (3,013)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH    
Beginning of period 41,188 64,478
End of period 37,144 61,465
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid during the period for interest expense 10,654 11,605
Cash paid during the period for income taxes, net of refunds 5,860 25,740
Noncash investing and financing activities:    
Purchased property and equipment in accounts payable 5,374 18,683
Sold revenue equipment and property in other current assets 0 494
Common stock dividends declared in accounts payable 1,569 1,580
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH    
Cash and cash equivalents 23,861 46,250
Restricted cash included in other current assets 317 741
Restricted cash included in other assets 12,966 14,474
Total cash, cash equivalents and restricted cash $ 37,144 $ 61,465