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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 186,473 $ 168,545
Cash and cash equivalents – restricted [1] 149,571 297,275
Restricted investments, held-to-maturity, amortized cost 0 530
Trade receivables, net of allowance for doubtful accounts of $39,720 and $39,458, respectively 841,619 888,603
Contract balance – revenue in transit 14,267 12,246
Prepaid expenses 112,998 148,696
Assets held for sale 72,480 83,366
Income tax receivable 39,266 65,815
Other current assets 33,541 43,939
Total current assets 1,450,215 1,709,015
Gross property and equipment 6,917,535 6,720,610
Less: accumulated depreciation and amortization (2,292,930) (2,104,211)
Property and equipment, net 4,624,605 4,616,399
Operating lease right-of-use-assets 422,433 484,821
Goodwill 3,879,442 3,848,798
Intangible assets, net 2,021,838 2,058,882
Other long-term assets 171,792 152,850
Total assets 12,570,325 12,870,765
Current liabilities:    
Accounts payable 300,585 355,173
Accrued payroll and purchased transportation 183,858 164,884
Accrued liabilities 197,801 220,350
Claims accruals – current portion 358,553 480,200
Finance lease liabilities and long-term debt – current portion 485,907 459,759
Operating lease liabilities – current portion 123,396 144,921
Total current liabilities 1,650,100 1,825,287
Revolving line of credit 120,000 67,000
Long-term debt – less current portion 1,173,121 1,223,021
Finance lease liabilities – less current portion 434,405 407,150
Operating lease liabilities – less current portion 326,752 371,407
Accounts receivable securitization 452,039 526,508
Claims accruals – less current portion 313,856 315,476
Deferred tax liabilities 910,882 951,749
Other long-term liabilities 118,817 79,086
Total liabilities 5,499,972 5,766,684
Commitments and contingencies (Notes 7, 8, and 9)
Stockholders’ equity:    
Preferred stock, par value $0.01 per share; 10,000 shares authorized; none issued $ 0 $ 0
Preferred stock, par value (in dollars per share) $ 0.01 $ 0.01
Preferred stock, shares authorized (in shares) 10,000 10,000
Preferred stock, shares issued (in shares) 0 0
Common stock, par value $0.01 per share; 500,000 shares authorized; 161,836 and 161,385 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively. $ 1,618 $ 1,613
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 500,000 500,000
Common stock, shares issued (in shares) 161,836 161,385
Common stock, shares outstanding (in shares) 161,836 161,385
Additional paid-in capital $ 4,439,489 $ 4,426,852
Accumulated other comprehensive loss (827) (830)
Retained earnings 2,613,684 2,659,755
Total Knight-Swift stockholders' equity 7,053,964 7,087,390
Noncontrolling interest 16,389 16,691
Total stockholders’ equity 7,070,353 7,104,081
Total liabilities and stockholders’ equity $ 12,570,325 $ 12,870,765
Common Class A [Member]    
Stockholders’ equity:    
Common stock, shares outstanding (in shares) 161,836 161,385
[1] Reflects cash and cash equivalents that are primarily restricted for claims payments.