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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
OPERATING ACTIVITIES      
Net income $ (29,722) $ 14,775 $ 133,584
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 181,523 199,039 133,047
Deferred income taxes (30,199) (18,081) 2,412
Stock-based compensation expense 1,040 1,620 1,399
Debt-related amortization 1,053 1,069 360
Gain on disposal of property and equipment (7,508) (41,087) (96,906)
Changes in certain working capital items (net of acquisition):      
Trade receivables 11,120 37,079 20,033
Prepaid expenses and other current assets 3,762 9,065 845
Accounts payable, accrued liabilities, and accrued expenses 5,200 (30,998) (1,227)
Accrued income taxes 8,079 (7,214) 1,166
Net cash provided by operating activities 144,348 165,267 194,713
INVESTING ACTIVITIES      
Proceeds from sale of property and equipment 62,993 137,319 172,750
Purchases of property and equipment, net of trades (109,536) (208,596) (160,568)
Acquisition of business, net of cash acquired 0 0 (675,852)
Change in other assets 4 3,410 411
Net cash used in investing activities (46,539) (67,867) (663,259)
FINANCING ACTIVITIES      
Cash dividends paid (4,721) (6,322) (6,318)
Proceeds from issuance of long-term debt 0 0 447,343
Shares withheld for employee taxes related to stock-based compensation (407) (290) (290)
Repayments on finance leases and debt (100,304) (114,078) (81,478)
Repurchases of common stock (7,281) 0 0
Net cash (used in) provided by financing activities (112,713) (120,690) 359,257
Net decrease in cash and cash equivalents (14,904) (23,290) (109,289)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH      
Beginning of period 41,188 64,478 173,767
End of period 26,284 41,188 64,478
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION      
Cash paid during the period for interest expense 17,742 22,444 6,384
Cash paid during the period for income taxes, net of refunds 15,642 30,135 44,010
Noncash investing and financing activities:      
Fair value of revenue equipment traded 0 0 428
Purchased property and equipment in accounts payable 3,307 3,912 11,938
Sold revenue equipment and property in other current assets 864 2,516 1,558
Common stock dividends declared in accounts payable 1,570 0 0
Right-of-use assets obtained in exchange for operating lease liabilities 0 8,236 3,345
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH      
Cash and cash equivalents 12,812 28,123 49,462
Restricted cash included in other current assets 280 332 752
Restricted cash included in other assets 13,192 12,733 14,264
Total cash, cash equivalents and restricted cash $ 26,284 $ 41,188 $ 64,478