XML 19 R7.htm IDEA: XBRL DOCUMENT v3.25.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
OPERATING ACTIVITIES    
Net income $ 450,760 $ 316,384
Adjustments to reconcile net income to net cash (used for) provided by operating activities:    
Depreciation and amortization 76,337 72,880
Provision for credit losses 6,571 3,755
Stock-based compensation 62,774 64,249
Deferred income taxes 30,564 (7,033)
Excess tax benefit on stock-based compensation (15,621) (5,509)
Change in loss on disposal group (569) 48,232
Other operating activities 7,172 11,845
Changes in operating elements:    
Receivables (89,325) (398,059)
Contract assets 23,035 (88,171)
Prepaid expenses and other (26,521) 24,588
Increase (Decrease) in Right of Use Asset 42,475 5,884
Accounts payable and outstanding checks 79,171 77,397
Accrued compensation (9,903) 33,921
Accrued transportation expense (14,094) 68,588
Accrued income taxes 49,418 10,634
Other accrued liabilities (16,168) 4,809
Increase (Decrease) in Operating Lease Liability (49,701) (5,917)
Other assets and liabilities 2,730 2,677
Net cash provided by operating activities 609,105 241,154
INVESTING ACTIVITIES    
Purchases of property and equipment (16,615) (19,977)
Purchases and development of software (38,246) (39,122)
Proceeds from divestiture 27,737 0
Net cash used for investing activities (27,124) (59,099)
FINANCING ACTIVITIES    
Proceeds from stock issued for employee benefit plans 112,076 79,914
Stock tendered for payment of withholding taxes (57,982) (23,902)
Repurchase of common stock (240,257) 0
Cash dividends (227,053) (220,256)
Proceeds from long-term borrowings 344,000 0
Payments on long-term borrowings (512,000) (10,000)
Proceeds from short-term borrowings 1,548,800 2,461,500
Payments on short-term borrowings (1,575,800) (2,471,500)
Net cash used for financing activities (608,216) (184,244)
Effect of exchange rates on cash and cash equivalents 6,534 (653)
Net change in cash and cash equivalents, including cash and cash equivalents classified within assets held for sale (19,701) (2,842)
Plus: net decrease (increase) in cash and cash equivalents within assets held for sale 10,776 (10,978)
Cash and cash equivalents, beginning of period 145,762 145,524
Cash and cash equivalents, end of period $ 136,837 $ 131,704