XML 16 R6.htm IDEA: XBRL DOCUMENT v3.23.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net earnings $ 387,320 $ 498,666
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 355,784 306,334
Noncash lease expense 46,844 39,066
Share-based compensation 39,845 39,584
(Gain)/loss on sale of revenue equipment and other 9,558 (20,667)
Deferred income taxes 58,264 65,189
Changes in operating assets and liabilities:    
Trade accounts receivable 241,832 (262,943)
Other assets 99,983 61,653
Trade accounts payable (54,492) 83,856
Income taxes payable or receivable 11,217 (13,915)
Claims accruals 12,365 24,905
Accrued payroll and other accrued expenses (111,230) (37,201)
Net cash provided by operating activities 1,097,290 784,527
Cash flows from investing activities:    
Additions to property and equipment (1,058,970) (667,742)
Net proceeds from sale of equipment 205,192 69,648
Business acquisition 0 (86,939)
Net cash used in investing activities (853,778) (685,033)
Cash flows from financing activities:    
Proceeds from revolving lines of credit and other 2,093,600 0
Payments on revolving lines of credit and other (1,911,100) 0
Purchase of treasury stock (83,935) (239,340)
Stock repurchased for payroll taxes and other (10,963) (8,188)
Dividends paid (87,112) (83,674)
Net cash used in financing activities 490 (331,202)
Net change in cash and cash equivalents 244,002 (231,708)
Cash and cash equivalents at beginning of period 51,927 355,549
Cash and cash equivalents at end of period 295,929 123,841
Supplemental disclosure of cash flow information:    
Interest 29,935 21,335
Income taxes 56,313 111,641
Noncash investing activities    
Accruals for equipment received $ 130,618 $ 90,490