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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating Activities:    
Net income $ 161.3 $ 90.3
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 146.3 142.1
(Gains) losses on sales of property and equipment—net (16.0) 3.8
Proceeds from lease receipts 35.3 35.7
Deferred income taxes 19.3 2.8
Long-term incentive and share-based compensation expense 8.2 3.4
Gains on investment in equity securities (20.2) (8.8)
Noncash restructuring—net 0.0 (0.8)
Other noncash items 1.6 5.7
Changes in operating assets and liabilities:    
Receivables (61.7) 34.7
Other assets (50.6) (36.5)
Payables 40.7 12.1
Claims reserves and other receivables—net (1.0) 8.6
Other liabilities (8.2) 26.7
Net cash provided by operating activities 255.0 319.8
Investing Activities:    
Purchases of transportation equipment (153.6) (83.3)
Purchases of other property and equipment (22.5) (25.0)
Proceeds from sale of property and equipment 76.6 29.6
Proceeds from sale of off-lease inventory 9.1 9.0
Purchases of lease equipment (36.5) (41.7)
Proceeds from marketable securities 8.6 10.2
Purchases of marketable securities (11.6) (8.9)
Investment in equity securities (5.0) 0.0
Net cash used in investing activities (134.9) (110.1)
Financing Activities:    
Payments of debt and finance lease obligations (0.3) (25.3)
Dividends paid (24.8) (22.2)
Net cash used in financing activities (25.1) (47.5)
Net increase in cash and cash equivalents 95.0 162.2
Cash and Cash Equivalents:    
Beginning of period 395.5 551.6
End of period 490.5 713.8
Noncash investing and financing activity:    
Equipment and inventory purchases in accounts payable 51.5 20.9
Dividends declared but not yet paid 13.9 11.8
Cash paid during the period for:    
Interest 5.8 6.6
Income taxes—net of refunds $ 39.5 $ 2.6