Knight-swift transportation holdings inc. (KNX)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Net income

310,178

420,649

485,425

95,238

118,457

161,152

155,422

140,087

102,747

-125,413

-435,645

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property, equipment, and intangibles

462,958

430,089

207,105

116,160

111,023

237,936

242,822

235,764

236,356

226,751

253,531

Gain (Loss) on Disposition of Property Plant Equipment

32,935

36,236

8,939

8,124

-

-

-

-

-

-

-

Amortization of debt issuance costs and other

-

-

-

-

0

10,407

7,247

10,645

22,607

13,401

10,080

Gain on sale of equipment

-

-

-

-

15,346

23,236

21,574

16,674

6,817

7,310

728

Gain on sale of real property

-

-

-

-

-

3,018

6,876

0

-

-

-

Earn-out on sold investment

-

-

-

-

208

-

-

-

0

-

-

Gain from available-for-sale securities

-

-

-

-

8,591

-

-

-

-

-

-

Impairments

3,486

2,798

16,844

0

0

2,308

0

9,366

0

1,274

515

Deferred income taxes

-30,731

-62,469

305,584

-5,454

-21,532

3,980

102,290

45,753

49,265

-61,964

310,269

Non-cash lease expense

120,769

0

0

-

-

-

-

-

-

-

-

Other adjustments to reconcile net income to net cash provided by operating activities

-24,156

-4,617

-14,758

-802

-

-

-

-

-

-

-

Gain on securitization

-

-

-

-

-

-

-

-

-

-

507

Reduction of allowance for doubtful accounts and notes receivable

-

-

-

-

1,359

2,844

1,370

977

-357

491

4,477

Non-cash compensation expense for issuance of common stock to certain members of the Board

-

-

-

-

354

-

-

-

-

-

-

Excess tax benefit from stock-based compensation

-

-

-

-

3,175

3,730

187

-

-

-

-

Non-cash loss on debt extinguishment and write-offs of deferred financing costs and original issue discount

-

-

-

-

-

-11,994

-5,540

-22,219

0

-95,461

-

Stock-based compensation expense

-

-

-

-

7,012

5,396

4,645

4,890

7,001

22,883

-

Income from investment in Transportation Resource Partners

-

-

-

-

422

-

-537

-1,007

264

-

-

Transportation Resource Partners impairment

-

-

-

-

177

-

-

-

-

-

-

Income effect of mark-to-market adjustment of interest rate swaps

-

-

-

-

-

-155

805

0

0

24,502

7,933

Interest on Central stockholders' loan receivable, pre-acquisition

-

-

-

-

-

-

53

53

78

-

-

Increase (decrease) in cash resulting from changes in:
Trade receivables

-70,106

9,375

48,454

11,099

-10,266

63,407

16,613

17,534

55,159

26,566

-6,599

Other current assets

-

-

-

-

870

-

-

-

-

-

-

Inventories and supplies

-

-

-

-

-

562

912

-1,484

7,991

-311

26

Prepaid expenses

-

-

-

-

-103

-17,802

12,013

1,643

-2,884

1,968

-5,429

Income tax receivable

10,069

-48,171

39,122

-33,561

22,535

-

-

-

-

-

-

Other long-term assets

-

-

-

-

1,236

-14,745

-6,296

-3,879

16,553

-18,593

-1,400

Interest rate swap liability

-

-

-

-

-

-

-

-

-

-66,350

-

Accounts payable

-13,180

-18,033

-29,890

3,788

-8,543

29,285

4,758

6,951

6,543

-54,675

-47,992

Accrued liabilities and claims accrual

-919

-14,367

35,820

-2,831

-3,592

-

-

-

-

-

-

Operating lease liabilities

-121,737

0

0

-

-

-

-

-

-

-

-

Other assets and liabilities

-3,950

-8,805

-5,373

10,827

-

-

-

-

-

-

-

Net cash provided by operating activities

839,594

881,977

322,590

243,776

205,765

395,781

473,504

447,118

340,184

58,439

115,335

Cash flows from investing activities:
Increase in cash and cash equivalents restricted

-

-

-

-

18

-5,212

-845

-20,046

-12,844

59,699

6,430

Proceeds from maturities of held-to-maturity investments

22,695

26,970

10,730

0

0

29,783

25,217

-

-

-

-

Purchases of held-to-maturity investments

14,302

22,156

10,893

0

0

28,921

28,756

22,275

0

-

-

Proceeds from sale of available-for-sale securities

-

-

-

-

12,528

-

-

-

-

-

-

Funding of note receivable

-

-

-

-

-

-

-

7,500

0

-

-

Proceeds from sale of property and equipment, including assets held for sale

260,140

225,821

82,731

65,595

72,246

133,020

119,158

142,684

77,471

38,527

69,773

Purchases of property and equipment

829,977

755,997

387,191

154,596

221,660

305,966

318,271

314,142

249,895

164,634

71,265

Payments to Acquire Other Property, Plant, and Equipment

16,093

30,322

1,553

0

0

4,053

18,415

12,040

8,965

4,478

9,060

Proceeds from notes receivable

-

-

-

-

1,779

5,481

3,868

5,948

7,334

6,285

6,462

Payments received on assets held for sale

-

-

-

-

-

25,326

53,486

12,778

11,018

5,230

4,442

Payments received on equipment sale receivables

-

-

-

-

0

368

1,450

5,642

0

248

4,951

Cash payments to Transportation Resource Partners

-

-

-

-

70

-

-

-

-

-

-

Cash proceeds from Transportation Resource Partners

-

-

-

-

360

-

-

-

-

-

-

Investment in Barr-Nunn Transportation

-

-

-

-

3,500

-

-

-

-

-

-

Cash and cash equivalents received with 2017 Merger

-

-

-

-

0

-

-

-

-

-

-

Net cash and equivalents invested in acquisitions

1,885

101,693

-91,960

0

-

-

150,302

0

0

-

-

Other cash flows from investing activities

4,284

-10,085

-9,953

12,059

-

-

-

270

-275

-

-

Net cash used in investing activities

-583,706

-647,292

-204,263

-101,060

-138,335

-139,750

-311,720

-169,129

-149,918

-178,521

-1,127

Cash flows from financing activities:
Proceeds from issuance of Class A common stock, net of issuance costs

-

-

-

-

-

-

-

-

62,994

764,284

-

Repayment of finance leases and long-term debt

115,642

46,630

503,153

0

0

1,224,628

236,388

311,935

224,269

49,766

30,820

Proceeds from long-term debt

0

0

400,000

0

0

900,000

26,267

11,304

7,263

1,059,300

-

Borrowings (repayments) on revolving line of credit, net

84,000

70,000

107,000

-94,000

-22,400

40,000

14,469

-6,506

9,037

-

-

Borrowing on new Revolver, net

-

-

-

-

0

-

-

-

-

-

-

Borrowings under accounts receivable securitization

150,000

70,000

40,000

0

0

119,000

184,000

255,000

263,000

213,000

-

Repayment of accounts receivable securitization

185,000

135,000

0

0

-

49,000

124,000

231,000

254,500

189,500

-

Issuance of Central stockholders' loan receivable, pre-acquisition

-

-

-

-

-

-

30,000

0

12,000

-

-

Distribution to Central stockholders, pre-acquisition

-

-

-

-

-

-

2,499

13,605

4,964

-

-

Payment of deferred loan costs

-

-

-

-

0

11,783

2,183

9,023

3,914

18,497

19,694

Proceeds from issuance of senior notes

-

-

-

-

-

-

-

-

-

490,000

-

Payoff of term loan

-

-

-

-

-

-

-

-

-

1,488,430

-

Repurchase of fixed rate notes

-

-

-

-

-

-

-

-

-

490,010

-

Repurchase of floating rate notes

-

-

-

-

-

-

-

-

-

192,600

-

Payment of deferred loan costs

-

-

-

-

-

-

-

-

-

45,163

-

Proceeds from common stock issued

13,307

13,547

13,483

13,188

9,930

12,604

13,945

401

247

-

-

Share withholding for taxes due on equity awards

-

-

-

-

0

-

-

-

-

-

-

Repurchases of the Company's common stock

86,892

179,318

0

39,873

45,345

0

0

-

-

-

-

Dividends paid

41,425

42,770

25,454

19,597

19,885

-

-

-

-

-

-

Cash distribution to noncontrolling interest holder

-

-

-

-

1,280

-

-

-

-

-

-

Excess tax benefits from stock-based compensation

-

-

-

-

3,175

3,730

187

-

-

-

-

Income tax benefit (deficiency) from exercise of stock options

-

-

-

-

-

-

-

370

206

-

-

Payments received on stockholder loan from affiliate

-

-

-

-

-

-

-

-

-

418

456

Repayment of short-term notes payable

-

-

-

-

-

-

-

-

-

-

6,204

Tax distributions on behalf of stockholders

-

-

-

-

-

-

-

-

-

1,322

-

Other cash flows from financing activities

-2,984

-5,271

-7,876

-2,722

-

-

-

-743

0

-

-

Distributions to stockholders

-

-

-

-

-

-

-

-

-

-

16,383

Interest payments received on stockholder loan receivable

-

-

-

-

-

-

-

-

-

-

16,383

Net cash used in financing activities

-184,636

-255,442

24,000

-143,004

-75,805

-210,077

-156,202

-306,477

-157,312

51,714

-56,262

Net decrease in cash, restricted cash, and equivalents

71,252

-20,757

142,327

-288

-8,375

45,954

5,582

-28,488

32,954

-68,368

57,946

Supplemental disclosures of cash flow information:
Cash paid (received) during the period for:
Interest

28,916

28,723

9,286

-

-

-

-

-

-

-

-

Interest

-

-

-

941

1,037

89,341

103,238

121,940

123,426

326,660

216,248

Income taxes

78,658

16,106

51,817

18,467

65,594

82,776

20,625

22,410

9,959

32,429

6,001

Non-cash investing activities and financing activities
Non-cash investing and financing transactions:
Equipment acquired included in accounts payable

6,748

11,931

8,361

3,619

4,251

35,831

7,710

14,361

2,373

11,494

7,963

Notes receivable from sale of assets

-

-

-

-

-

-

8,089

7,784

4,283

11,476

6,230

Equipment sales receivables

1,333

5,565

350

0

0

288

1,252

705

5,500

-

208

Financing provided to independent contractors for equipment sold

-

-

-

1,310

787

5,431

-

3,775

1,601

-

-

Right-of-use assets obtained in exchange for new operating lease liabilities

9,803

0

0

-

-

-

-

-

-

-

-

Property and equipment obtained in exchange for financing lease liabilities reclassified from operating lease liabilities

56,352

0

0

-

-

-

-

-

-

-

-

Transfer from property and equipment to assets held for sale

-

-

-

30,755

49,786

-

-

-

-

-

-

Re-recognition of securitized accounts receivable

-

-

-

-

-

-

-

-

-

148,000

-

Property and equipment obtained in exchange for new capital lease obligations (under ASC Topic 840)

0

0

15,020

0

0

101,581

85,094

38,453

59,358

66,551

36,819

Net dividends accrued for restricted stock units

-

-

-

-

178

-

-

-

-

-

-

Accrued deferred loan costs

-

-

-

-

-

177

0

0

0

-

-

Insurance premium notes payable

-

-

-

-

-

37

9,198

7,694

6,784

-

6,205

Non-cash distribution to Central stockholders in satisfaction of stockholders' loan receivable, pre-acquisition

-

-

-

-

-

-

22,315

0

0

-

-

Non-cash exercise of Central stock options in exchange for stockholders' loans receivable, pre-acquisition

-

-

-

-

-

-

3,415

0

0

-

-

Cancellation of Central stockholders' loans receivable at closing of acquisition

-

-

-

-

-

-

33,295

0

0

-

-

Deferred operating lease payment notes payable

-

-

-

-

-

-

-

-

-

-

2,877

Cancellation of senior notes

-

-

-

-

-

-

-

-

-

89,352

36,400

Cancellation of stockholder loan

-

-

-

-

-

-

-

-

-

475,578

94,000

Paid-in-kind interest on stockholder loan

-

-

-

-

-

-

-

-

-

6,193

3,385

Accrued deferred loan costs and stock issuance costs

-

-

-

-

-

-

-

-

-

4,185

-

Financing provided to independent contractors for equipment sold [Member]
Other non-cash investing and financing activities

5,288

1,742

3,316

-

-

-

-

-

-

-

-

Transfers from property and equipment to assets held for sale [Member]
Other non-cash investing and financing activities

137,391

133,434

45,016

-

-

-

-

-

-

-

-