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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net income $ 7,315 $ 26,002
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for accounts receivable 13 168
Reversal of gain on sales to equity method investee (7) (185)
Depreciation and amortization 61,250 56,370
Amortization of deferred financing fees 110 111
Deferred income tax expense 4,632 9,172
Income tax benefit arising from restricted share vesting and stock options exercised 4 19
Stock-based compensation expense 426 3,243
Income from equity method investment (7,548) (5,407)
Return on investment in affiliated company 1,225
(Gain) loss on disposition of property and equipment (2,137) 433
Return on investment in available-for-sale securities (4) (6)
Changes in operating assets and liabilities:    
Receivables and advances (9,098) (4,717)
Prepaid expenses and other assets (977) (2,763)
Inventory and supplies (111) (102)
Insurance and claims accrual 539 1,553
Operating lease right-of-use asset amortization/accretion 333
Accounts payable and accrued expenses (16,162) 17,723
Net cash flows provided by operating activities 39,803 101,614
Cash flows from investing activities:    
Acquisition of Landair Holdings, Inc., net of cash acquired (106,060)
Purchase of available-for-sale securities (1,380) (1,496)
Acquisition of property and equipment (129,403) (44,528)
Proceeds from disposition of property and equipment 31,235 49,302
Net cash flows used by investing activities (99,548) (102,782)
Cash flows from financing activities:    
Change in checks outstanding in excess of bank balances (664) 605
Proceeds from issuance of notes payable 102,796 83,746
Repayments of notes payable (30,538) (73,376)
Repayments of finance lease obligations (4,232) (2,608)
Proceeds under revolving credit facility 1,257,755 1,153,310
Repayments under revolving credit facility (1,247,942) (1,156,162)
Payment of minimum tax withholdings on stock compensation (762) (81)
Debt refinancing costs (10)
Net cash flows provided by financing activities 76,413 5,424
Net change in cash and cash equivalents 16,668 4,256
Cash and cash equivalents at beginning of period 23,127 15,356
Cash and cash equivalents at end of period $ 39,795 $ 19,612