XML 33 R9.htm IDEA: XBRL DOCUMENT v3.19.3
Consolidated Statements of Cash Flows
$ in Thousands, $ in Millions
9 Months Ended
Sep. 30, 2019
USD ($)
Sep. 30, 2018
USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 159,950 $ 196,946
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 188,169 197,127
Stock-based compensation 12,371 13,029
Deferred income taxes 34,468 7,978
Gain on insurance recoveries (2,500) 0
Net gain on sale and impairment of assets (1,151) (2,501)
Changes in assets and liabilities which provided/(used) cash:    
Accounts receivable, net 2,594 (50,143)
Materials and supplies (3,550) 3,133
Prepaid expenses and other (4,519) (11,663)
Accounts payable and accrued expenses (7,065) 33,818
Other assets and liabilities, net 5,434 9,750
Net cash provided by operating activities 384,201 397,474
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (227,266) (194,132)
Grant proceeds from outside parties 22,987 16,696
Proceeds from settlement of derivative transactions 45,360 0
Proceeds from sale of business 0 7,927
Insurance proceeds for replacement of assets 4,297 2,780
Proceeds from disposition of property and equipment 5,200 3,710
Contributions to joint ventures (2,965) (2,921)
Net cash used in investing activities (152,387) (165,940)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Principal payments on revolving line-of-credit, long-term debt and finance lease obligations (426,276) (799,726)
Proceeds from revolving line-of-credit and long-term debt 195,335 854,679
Debt amendment/issuance costs 0 (5,318)
Purchase of additional shares in Freightliner Australia (4,696) 0
Common share repurchases (4,796) (270,488)
Distribution to noncontrolling interest 0 14,900
Installment payments on Freightliner deferred consideration (2,522) (6,255)
Other financing related activities, net 6,534 5,006
Net cash used in financing activities (236,421) (237,000)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 1,132 (939)
DECREASE IN CASH AND CASH EQUIVALENTS (3,475) (6,405)
CASH AND CASH EQUIVALENTS, beginning of period 90,387 80,472
CASH AND CASH EQUIVALENTS, end of period $ 86,912 $ 74,067