XML 22 R6.htm IDEA: XBRL DOCUMENT v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
OPERATING ACTIVITIES:      
Net (loss) income $ (31,795) $ 18,416 $ 90,672
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Depreciation 99,264 64,605 62,806
Impairment Loss 6,406 0 0
Bad debt expense 3,074 2,396 917
Stock compensation—net of excess tax benefits 723 553 715
Provision for deferred income tax (benefit) expense (11,785) 2,886 14,541
Recognized (gain) on marketable equity securities (3,079) (1,618) (1,129)
Loss (gain) on disposition of equipment 766 (1,043) (3,250)
Changes in operating assets and liabilities:      
Accounts receivable (86) 50,798 (2,152)
Prepaid expenses, deposits, inventories, and other assets 3,463 2,538 (7,257)
Income taxes refundable 1,602 1,768 (5,373)
Income taxes payable 0 0 (4,364)
Trade accounts payable (6,520) (10,980) 2,198
Accrued expenses and other liabilities (2,992) (15,742) 20,491
Net cash provided by operating activities 59,041 114,577 168,815
INVESTING ACTIVITIES:      
Purchases of property and equipment (140,759) (34,060) (63,961)
Purchase of a business, net of cash acquired 0 0 (65,797)
Proceeds from disposition of equipment 36,910 22,622 17,406
Sales of marketable equity securities 3,662 143 0
Purchases of marketable equity securities, net of return of capital 0 0 (1,175)
Net cash used by investing activities (100,187) (11,295) (113,527)
FINANCING ACTIVITIES:      
Borrowings under line of credit 750,912 879,191 945,610
Repayments under line of credit (750,912) (879,191) (945,610)
Borrowings of long-term debt 80,678 0 74,925
Repayments of long-term debt (66,827) (71,105) (67,335)
Borrowings under margin account 0 46 1,229
Repayments under margin account 0 (960) (1,529)
Repurchases of treasury stock (5,259) (4,736) (7,000)
Net cash provided (used) by financing activities 8,592 (76,755) 290
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (32,554) 26,527 55,578
CASH AND CASH EQUIVALENTS—Beginning of year 100,614 74,087 18,509
CASH AND CASH EQUIVALENTS—End of year 68,060 100,614 74,087
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION—      
Interest 13,494 9,762 7,842
Income taxes 674 5,510 23,243
NON-CASH INVESTING AND FINANCING ACTIVITIES—      
Purchases of revenue equipment included in accounts payable $ 214 $ 25,147 $ 431