| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|---|---|
OPERATING ACTIVITIES | |||||||||||
Net income | |||||||||||
39,985 | 67,262 | 59,726 | 18,652 | 44,854 | 46,177 | 15,811 | -7,732 | 6,333 | -32,421 | -127,522 | 29,168 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Depreciation and amortization | |||||||||||
108,099 | 104,114 | 98,530 | 98,814 | 89,040 | 81,870 | 84,215 | 85,493 | 73,742 | 71,565 | 75,226 | 76,872 |
Amortization of intangibles | |||||||||||
4,367 | 4,521 | 4,538 | 4,239 | 4,002 | 4,352 | 4,174 | 2,261 | 0 | - | - | - |
Pension settlement expense | |||||||||||
-8,505 | -12,925 | -4,156 | -3,229 | -3,202 | -6,595 | -2,111 | - | -1,125 | -178 | 4,588 | 1,540 |
Other amortization | |||||||||||
- | - | - | - | - | - | - | - | - | - | 1,278 | 293 |
Goodwill impairment charge | |||||||||||
- | - | - | - | - | - | - | - | - | - | 63,958 | - |
Share-based compensation expense | |||||||||||
9,523 | 8,413 | 6,958 | 7,588 | 8,029 | 6,998 | 5,494 | 6,068 | 6,450 | 5,690 | 6,157 | 6,106 |
Provision for losses on accounts receivable | |||||||||||
1,223 | 2,336 | 4,081 | 1,643 | 998 | 1,942 | 2,065 | 1,524 | 2,394 | 868 | 2,587 | 1,623 |
Change in deferred income taxes | |||||||||||
5,411 | 1,872 | -10,213 | 9,522 | 16,435 | 4,692 | -10,367 | -10,359 | 3,056 | -11,457 | -4,942 | 12,571 |
Asset impairment | |||||||||||
26,514 | - | - | - | - | - | - | - | - | - | - | - |
Gain on sale of property and equipment | |||||||||||
5,247 | 59 | 75 | 3,335 | 2,225 | 1,461 | 153 | 735 | 2,360 | 981 | 1,409 | 3,720 |
Gain on sale of subsidiaries | |||||||||||
- | 1,945 | 152 | - | - | - | - | - | - | - | - | - |
Impairment of revenue equipment | |||||||||||
- | - | - | 6,244 | - | - | - | - | - | - | - | - |
Excess tax benefits from share-based compensation | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 692 |
Changes in operating assets and liabilities: | |||||||||||
Receivables | |||||||||||
-13,720 | 23,554 | 19,588 | 23,809 | -2,310 | 26,892 | 24,200 | -508 | 6,067 | 32,211 | 3,735 | -30,568 |
Prepaid expenses | |||||||||||
4,756 | 2,988 | 64 | 1,393 | -362 | 1,888 | 1,670 | -305 | 1,105 | -144 | -429 | -573 |
Other assets | |||||||||||
1,365 | 4,341 | 4,231 | 4,355 | -1,090 | -889 | 1,015 | -961 | 635 | 1,568 | -790 | -11,087 |
Income taxes | |||||||||||
-8,720 | 12,169 | -2,144 | 6,236 | -8,918 | -11,972 | 8,468 | 2,630 | -776 | 21,016 | -7,251 | -14,076 |
Operating right-of-use assets and lease liabilities, net | |||||||||||
-728 | - | - | - | - | - | - | - | - | - | - | - |
Multiemployer pension fund withdrawal liability | |||||||||||
-584 | 22,602 | - | - | - | - | - | - | - | - | - | - |
Accounts payable, accrued expenses, and other liabilities | |||||||||||
-27,039 | 52,020 | 10,393 | -11,335 | -10,048 | 32,464 | 8,571 | 3,610 | 18,695 | 5,464 | 1,636 | -46,576 |
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES | |||||||||||
170,364 | 255,347 | 151,915 | 111,940 | 149,131 | 143,766 | 93,504 | 84,534 | 100,852 | 26,287 | 11,790 | 105,337 |
INVESTING ACTIVITIES | |||||||||||
Purchases of property, plant and equipment, net of financings | |||||||||||
90,955 | 43,992 | 65,781 | 68,271 | 78,425 | 35,483 | 26,369 | 37,278 | 53,227 | 11,422 | 48,044 | 58,729 |
Proceeds from sale of property and equipment | |||||||||||
13,490 | 4,256 | 4,279 | 8,804 | 6,639 | 4,928 | 2,194 | 6,397 | 7,062 | 5,879 | 4,913 | 17,073 |
Proceeds from sale of subsidiaries | |||||||||||
- | 4,680 | 2,490 | 2,780 | - | - | - | - | - | - | - | - |
Purchases of short-term investments | |||||||||||
129,709 | 108,495 | 73,459 | 69,400 | 61,363 | 45,831 | 39,605 | 55,858 | 59,718 | 65,171 | 109,806 | 146,655 |
Proceeds from sale of short-term investments | |||||||||||
120,409 | 58,698 | 73,842 | 74,167 | 45,831 | 35,853 | 32,718 | 60,730 | 64,995 | 119,744 | 133,800 | 107,404 |
Business acquisitions, net of cash acquired | |||||||||||
- | - | - | 24,780 | 29,813 | 2,647 | 4,146 | 180,039 | 0 | - | 4,873 | - |
Capitalization of internally developed software | |||||||||||
11,476 | 10,097 | 9,840 | 10,472 | 8,512 | 8,418 | 7,668 | 7,218 | 5,295 | 4,355 | 5,176 | 5,325 |
Proceeds from issuance of long-term debt | |||||||||||
- | - | - | - | - | - | - | - | - | 11,416 | 14,958 | - |
NET CASH USED IN INVESTING ACTIVITIES | |||||||||||
-98,241 | -94,950 | -68,469 | -87,172 | -125,643 | -51,598 | -42,876 | -213,266 | -46,183 | 44,675 | -29,186 | -86,232 |
Borrowings under credit facilities | |||||||||||
- | - | - | - | 70,000 | - | - | 100,000 | 0 | - | - | - |
Borrowings under accounts receivable securitization program | |||||||||||
- | - | 10,000 | - | 35,000 | - | - | - | - | - | - | - |
Payments on long-term debt | |||||||||||
58,938 | 71,260 | 68,924 | 52,202 | 100,813 | 40,440 | 43,176 | 53,000 | 16,056 | 8,077 | 1,433 | 295 |
Proceeds from notes payable | |||||||||||
20,410 | - | - | - | - | - | - | - | - | - | - | - |
Net change in book overdrafts | |||||||||||
-2,722 | 262 | -502 | -4,171 | 3,843 | 2,486 | -37 | -7,190 | 7,811 | -8,918 | 6,752 | -59 |
Acquisition of noncontrolling interest | |||||||||||
- | - | - | - | - | - | - | - | 4,084 | - | - | - |
Net change in restricted cash | |||||||||||
- | - | - | - | - | 516 | 7,756 | 43,035 | -1,032 | -804 | -48,558 | - |
Deferred financing costs | |||||||||||
562 | 202 | 937 | - | 875 | 76 | 71 | 1,487 | 174 | 35 | 817 | - |
Payment of common stock dividends | |||||||||||
8,187 | 8,244 | 8,264 | 8,318 | 6,837 | 4,102 | 3,233 | 3,219 | 3,180 | 3,126 | 15,523 | 15,344 |
Purchases of treasury stock | |||||||||||
9,110 | 9,404 | 6,019 | 9,510 | 12,765 | - | - | - | - | - | - | - |
Payments for tax withheld on share-based compensation | |||||||||||
1,291 | 2,135 | 3,270 | 1,682 | 3,112 | - | - | - | - | - | - | - |
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | |||||||||||
-60,400 | -90,983 | -77,916 | -75,883 | -15,559 | -40,480 | -35,976 | 78,139 | -15,952 | -7,716 | -44,152 | -12,030 |
Excess tax benefits from share-based compensation | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 692 |
Proceeds from the exercise of stock options | |||||||||||
- | - | - | - | - | 1,136 | 2,785 | - | 763 | 1,828 | 469 | 2,976 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | |||||||||||
11,723 | 69,414 | 5,530 | -51,115 | 7,929 | 51,688 | 14,652 | -50,593 | 38,717 | 63,246 | -61,548 | 7,075 |
NONCASH INVESTING ACTIVITIES | |||||||||||
Equipment and other financings | |||||||||||
70,372 | 94,016 | 84,170 | 83,366 | 80,592 | 55,325 | 36 | 37,973 | 30,410 | 36,343 | 545 | - |
Accruals for equipment received | |||||||||||
234 | 2,807 | 1,734 | 397 | 748 | 928 | 324 | 301 | 338 | - | - | - |
Lease liabilities arising from obtaining right-of-use assets | |||||||||||
32,761 | - | - | - | - | - | - | - | - | - | - | - |
Equipment financed under notes payable and capital leases | |||||||||||
- | - | - | - | - | - | - | - | 30,410 | - | - | - |