Arcbest corporation (ARCB)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10
OPERATING ACTIVITIES
Net income

1,902

-5,549

16,270

24,376

4,888

15,299

40,776

1,233

9,954

36,568

14,788

15,777

-7,407

1,584

12,940

10,231

-6,103

4,988

19,154

19,967

745

14,544

19,618

17,208

-5,193

10,346

13,982

4,878

-13,395

-7,929

6,518

11,841

-18,162

1,404

12,265

5,451

-12,787

-3,116

-585

-7,349

-21,371

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization

28,032

28,132

28,245

26,313

25,409

25,809

26,896

26,057

25,352

25,113

25,085

24,074

24,258

25,181

24,720

24,749

24,164

23,898

22,512

21,546

21,084

21,257

21,073

20,130

19,410

19,776

20,525

21,764

22,150

22,721

22,802

20,650

19,320

19,541

18,230

18,053

17,918

17,794

17,675

17,617

18,479

Amortization of intangibles

981

1,002

1,116

1,121

1,128

1,127

1,130

1,130

1,134

1,134

1,133

1,135

1,136

1,180

1,073

999

987

923

861

1,070

1,148

1,110

1,105

1,094

1,043

1,044

1,043

1,044

1,043

-

-

-

-

-

-

-

-

-

-

-

-

Pension settlement expense

-89

-370

-6,501

-278

-1,356

-11,322

-518

-431

-654

-512

-943

-744

-1,957

-962

-803

-564

-900

-724

-762

-597

-1,119

-1,190

-805

-909

-3,691

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other amortization

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

73

-

67

66

67

Share-based compensation expense

2,181

2,255

2,409

2,801

2,058

2,228

2,641

1,674

1,870

1,888

1,471

1,868

1,731

1,437

1,951

2,491

1,709

1,686

2,110

2,586

1,647

1,636

1,694

2,100

1,568

1,915

1,094

1,182

1,303

1,357

1,369

1,900

1,442

1,334

1,417

2,253

1,446

1,499

2,033

843

1,315

Provision for losses on accounts receivable

1,383

391

211

509

112

399

868

624

445

3,376

-348

611

442

856

369

336

82

57

314

315

312

295

615

948

84

407

346

343

969

210

585

454

275

289

983

824

298

415

150

61

242

Change in deferred income taxes

-2,815

-8,688

8,975

5,708

-584

-1,825

14,515

-8,069

-2,749

-16,059

3,159

6,884

-4,197

-4,677

664

8,323

5,212

24,297

-5,303

-4,066

1,507

12,101

-5,051

1,135

-3,493

-4,597

-9

2,995

-8,756

-6,564

4,725

-4,219

-4,301

9,858

-233

37

-6,606

-4,735

1,478

-3,232

-4,968

Gain on sale of property and equipment

2,130

3,863

-85

1,426

43

-129

22

-55

221

-182

-155

-201

613

754

95

2,175

311

534

642

739

310

864

348

35

214

-333

95

179

212

153

66

231

285

426

1,061

778

95

839

70

-226

298

Changes in operating assets and liabilities:
Receivables

-3,874

-9,504

-2,435

2,150

-3,931

-23,733

16,006

21,021

10,260

-16,002

14,499

24,436

-3,345

6,344

15,173

11,861

-9,569

-17,191

-1,679

15,658

902

-14,288

6,292

15,620

19,268

-12,313

9,896

16,731

9,886

-29,464

8,071

20,026

859

-14,177

-5,512

9,582

16,174

616

10,738

19,792

1,065

Prepaid expenses

3,429

4,491

-3,058

-2,437

5,760

4,001

1,380

-4,980

2,587

27

-2,512

-2,625

5,174

2,501

-1,914

-3,192

3,998

1,991

-662

-3,380

1,689

3,365

-94

-4,546

3,163

3,438

-366

-3,444

2,042

2,635

-1,577

-2,984

1,621

2,249

-308

-2,676

1,840

1,580

-325

-2,972

1,573

Other assets

-5,800

-2,871

1,438

2,657

141

-485

6,844

714

-2,732

-1,701

2,832

-257

3,357

700

369

332

2,954

-585

-120

71

-456

-1,970

-401

-228

1,710

-542

1,260

-667

964

-1,552

139

356

96

3,105

-2,201

-437

168

2,227

47

-849

143

Income taxes

2,949

-837

-4,841

1,271

-4,313

6,494

-2,349

6,086

1,938

-7,324

4,722

1,663

-1,205

3,653

6,845

5,949

-10,211

-23,213

1,989

14,732

-2,426

-21,953

7,755

5,836

-3,610

1,600

6,705

1,711

-1,548

1,692

416

-1,271

1,793

-9,233

6,040

3,391

-974

2,871

-3,460

27,791

-6,186

Operating right-of-use assets and lease liabilities, net

138

-202

-367

-119

-40

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Multiemployer pension fund withdrawal liability

-150

-149

-146

-146

-143

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable, accrued expenses, and other liabilities

-15,400

-15,313

-5,705

25,288

-31,309

711

10,395

37,401

3,513

-7,522

8,908

18,162

-9,155

-3,523

-60

-1,046

-6,706

-19,054

690

20,075

-11,759

-16,644

19,089

12,954

17,065

-13,265

3,684

7,028

11,124

-4,332

3,202

-2,631

7,371

-4,141

-6,516

16,797

12,555

-4,852

-4,183

4,673

9,826

NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES

23,129

32,351

57,542

83,842

-3,371

81,768

54,015

87,789

31,775

55,544

45,045

49,565

1,761

22,598

35,582

41,420

12,340

29,557

44,908

63,734

10,932

25,565

60,558

51,433

6,210

27,253

38,319

28,146

-214

36,426

33,936

9,295

4,877

28,574

39,146

39,486

-6,354

4,414

2,645

24,903

-5,675

INVESTING ACTIVITIES
Purchases of property, plant and equipment, net of financings

6,738

21,182

27,864

26,366

15,543

4,743

14,486

17,586

7,177

21,404

17,254

14,850

12,273

22,497

19,692

12,725

13,357

24,781

19,439

17,659

16,546

11,727

8,186

6,916

8,654

13,291

4,440

5,198

3,440

5,355

13,522

16,013

2,388

21,100

13,361

16,180

2,586

7,100

923

1,307

2,092

Proceeds from sale of property and equipment

4,692

8,742

950

2,759

1,039

1,339

843

1,024

1,050

694

834

1,059

1,692

1,508

1,046

3,815

2,435

2,524

1,425

1,713

977

2,227

1,460

495

746

337

427

588

842

1,271

2,434

1,377

1,315

1,384

2,308

2,758

612

2,486

717

867

1,809

Purchases of short-term investments

73,973

23,962

62,420

29,537

13,790

41,374

41,115

21,596

4,410

23,185

44,051

0

6,223

17,640

33,075

2,940

15,745

-

-

-

-

-

-

-

-

18,375

14,538

2,940

3,752

17,150

16,565

7,808

14,335

31,788

15,680

6,370

5,880

14,106

23,523

5,365

22,177

Proceeds from sale of short-term investments

12,210

31,679

55,398

28,334

4,998

10,820

33,231

8,402

6,245

23,862

40,915

2,940

6,125

20,140

37,612

8,575

7,840

-

-

-

-

-

-

-

-

11,005

15,799

2,974

2,940

35,712

15,463

6,370

3,185

28,820

22,050

11,185

2,940

20,569

41,259

15,690

42,226

Business acquisitions, net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

24,574

20

49

5,170

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Capitalization of internally developed software

3,342

2,976

2,965

2,879

2,656

2,686

1,414

3,833

2,164

2,615

2,902

1,883

2,440

2,812

2,562

2,430

2,668

2,357

2,056

2,012

2,087

2,402

2,157

1,980

1,879

1,709

1,909

1,960

2,090

1,839

1,944

1,817

1,618

1,560

1,552

1,156

1,027

1,090

972

1,123

1,170

Proceeds from issuance of long-term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

11,416

NET CASH USED IN INVESTING ACTIVITIES

-67,151

-7,699

-36,901

-27,689

-25,952

-36,644

-18,261

-33,589

-6,456

-22,128

-20,488

-12,734

-13,119

-18,496

-41,673

-5,508

-21,495

-41,199

-35,798

-25,820

-22,826

-14,011

-16,709

-11,091

-9,787

-22,033

-4,661

-10,682

-5,500

13,393

-14,134

-198,684

-13,841

-24,244

-6,235

-9,763

-5,941

759

16,558

8,762

18,596

FINANCING ACTIVITIES
Borrowings under credit facilities

180,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Borrowings under credit facilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

70,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Borrowings under accounts receivable securitization program

45,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

35,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on long-term debt

14,598

15,165

13,789

14,767

15,217

21,293

16,273

17,136

16,558

16,662

17,314

17,651

17,297

15,623

13,752

11,761

11,066

8,677

7,581

7,301

77,254

12,416

11,496

8,763

7,765

11,401

9,766

11,054

10,955

30,394

10,303

6,228

6,075

5,170

3,892

3,551

3,443

2,910

2,156

1,582

1,429

Net change in book overdrafts

-10,869

2,848

-1,172

-1,874

-2,524

2,237

913

-316

-2,572

-2,791

4,767

-1,497

-981

-342

2,660

-1,394

-5,095

1,664

3,701

483

-2,005

182

-1,298

2,203

1,399

1,965

-4,028

3,935

-1,909

618

-2,298

4,546

-10,056

6,203

-1,189

2,670

127

1,139

1,787

860

-12,704

Net change in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1

-1

4,004

3,754

140

11,227

8,519

23,149

-370

-642

11

-31

-907

1,086

-1,113

130

Deferred financing costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

51

0

0

824

-

-

-

-

-

-

-

-

15

-102

1,538

36

0

41

6

127

-

-

-

-

Payment of common stock dividends

2,033

2,042

2,043

2,050

2,052

2,068

2,060

2,058

2,058

2,057

2,063

2,078

2,066

2,069

2,074

2,087

2,088

2,097

1,578

1,578

1,584

1,644

823

816

819

815

805

806

807

807

807

808

797

797

798

797

788

786

786

777

777

Purchases of treasury stock

3,162

2,995

944

2,508

2,663

9,203

0

0

201

-

-

-

-

1,916

2,478

2,514

2,602

2,761

4,022

3,523

2,459

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments for tax withheld on share-based compensation

60

85

24

1,174

8

2,047

3

35

50

190

390

2,365

325

267

105

1,132

178

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES

194,278

-6,581

-18,534

-12,821

-22,464

-32,374

-17,625

-19,545

-21,439

-21,678

-18,092

-17,477

-20,669

-20,217

-15,749

-18,888

-21,029

-15,033

-9,480

-11,920

20,874

-13,894

-13,617

-6,920

-6,049

-7,477

-14,600

-3,982

-9,917

-30,458

-2,079

104,491

6,185

-134

-10,646

-1,673

-3,499

-2,101

-154

-2,454

-3,007

Proceeds from the exercise of stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,136

-

-

-

-

-

-

-

-

0

0

0

763

1,363

-50

158

357

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

150,256

18,071

2,107

43,332

-51,787

12,750

18,129

34,655

3,880

11,738

6,465

19,354

-32,027

-16,115

-21,840

17,024

-30,184

-26,675

-370

25,994

8,980

-2,340

30,232

33,422

-9,626

-2,257

19,058

13,482

-15,631

19,361

17,723

-84,898

-2,779

4,196

22,265

28,050

-15,794

3,072

19,049

31,211

9,914

NONCASH INVESTING ACTIVITIES
Equipment and other financings

-

-

-

-

-

22,441

57,168

14,286

121

22,563

23,014

37,899

694

21,682

25,916

33,821

1,947

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accruals for equipment received

39

-18,715

-453

16,524

2,878

2,369

-8,211

7,766

883

883

-2,328

2,739

440

-8,994

-1,223

2,128

8,486

-6,402

-1,822

8,809

163

-8,704

2,763

6,767

102

60

-4

95

173

267

-7,382

5,356

2,060

-4,839

-181

3,213

2,145

-

-

-

-

Lease liabilities arising from obtaining right-of-use assets

10,370

5,951

3,761

4,905

18,144

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-