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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
OPERATING ACTIVITIES    
Net (loss) income $ (27,869) $ 9,680
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 137,596 147,919
Deferred income taxes (25,016) (11,903)
Stock-based compensation expense 742 928
Debt-related amortization 789 806
Gain on disposal of property and equipment (1,510) (15,873)
Changes in certain working capital items:    
Trade receivables 2,723 25,874
Prepaid expenses and other current assets 2,297 4,604
Accounts payable, accrued liabilities, and accrued expenses 8,030 (25,176)
Accrued income taxes 8,778 (12,408)
Net cash provided by operating activities 106,560 124,451
INVESTING ACTIVITIES    
Proceeds from sale of property and equipment 27,698 94,660
Purchases of property and equipment (26,229) (176,861)
Change in other assets 30 382
Net cash provided by (used in) investing activities 1,499 (81,819)
FINANCING ACTIVITIES    
Payments of cash dividends (3,151) (3,161)
Shares withheld for employee taxes related to stock-based compensation (383) (213)
Repayments of finance leases and debt (94,001) (69,887)
Repurchases of common stock (7,281) 0
Net cash used in financing activities (104,816) (73,261)
Net increase (decrease) in cash, cash equivalents and restricted cash 3,243 (30,629)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH    
Beginning of period 41,188 64,478
End of period 44,431 33,849
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid during the period for interest expense 14,296 16,779
Cash paid during the period for income taxes, net of refunds 10,030 29,138
Noncash investing and financing activities:    
Purchased property and equipment in accounts payable 12,086 22,270
Sold revenue equipment and property in other current assets 1,253 2,089
Common stock dividends declared in accounts payable 1,569 1,581
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH    
Cash and cash equivalents 30,739 20,101
Restricted cash included in other current assets 312 299
Restricted cash included in other assets 13,380 13,449
Total cash, cash equivalents and restricted cash $ 44,431 $ 33,849