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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
OPERATING ACTIVITIES:      
Net income $ 90,672 $ 76,516 $ 17,827
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 62,806 55,012 56,168
Bad debt expense 917 1,044 530
Stock compensation—net of excess tax benefits 715 441 460
Provision for deferred income taxes 14,541 17,832 5,362
Recognized (gain) loss on marketable equity securities (1,129) (8,197) 3,463
(Gain) loss on sale or disposal of equipment (3,250) (1,446) 373
Changes in operating assets and liabilities:      
Accounts receivable (2,152) (47,132) (17,835)
Prepaid expenses, deposits, inventories, and other assets (7,257) (865) (1,780)
Income taxes refundable (5,373) 591 (60)
Income taxes payable (4,364) 4,364 0
Trade accounts payable 2,198 5,945 20,880
Accrued expenses and other liabilities 20,491 (2,365) (17,798)
Net cash provided by operating activities 168,815 101,740 67,590
INVESTING ACTIVITIES:      
Purchases of property and equipment (65,441) (19,144) (48,226)
Purchase of a business, net of cash acquired (64,317) 0 0
Proceeds from disposition of equipment 17,406 31,680 17,418
Sales of marketable equity securities 0 3,109 2,039
Purchases of marketable equity securities, net of return of capital (1,175) (6,395) (3,923)
Net cash (used in) provided by investing activities (113,527) 9,250 (32,692)
FINANCING ACTIVITIES:      
Borrowings under line of credit 945,610 654,212 517,668
Repayments under line of credit (945,610) (672,458) (516,468)
Borrowings of long-term debt 74,925 21,408 26,837
Repayments of long-term debt (67,335) (75,115) (64,411)
Borrowings under margin account 1,229 6,510 7,068
Repayments under margin account (1,529) (16,547) (3,292)
Repurchases of treasury stock (7,000) (10,828) (2,281)
Net cash provided by (used in) financing activities 290 (92,818) (34,879)
NET INCREASE IN CASH AND CASH EQUIVALENTS 55,578 18,172 19
CASH AND CASH EQUIVALENTS—Beginning of year 18,509 337 318
CASH AND CASH EQUIVALENTS—End of year 74,087 18,509 337
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION—      
Interest 7,842 8,144 8,798
Income taxes 23,342 3,870 281
NON-CASH INVESTING AND FINANCING ACTIVITIES—      
Purchases of revenue equipment included in accounts payable $ 431 $ 383 $ 9,050