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Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Cash flows from operating activities:      
Net income $ 169,078 $ 166,944 $ 168,148
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 263,286 249,527 230,151
Deferred income taxes (10,233) 16,401 37,694
Gain on disposal of property and equipment (11,271) (21,557) (24,898)
Non-cash equity compensation 8,903 8,077 7,394
Insurance and claims accruals, net of current portion 3,420 14,188 26,570
Other 13,641 (3,360) (4,774)
Changes in certain working capital items:      
Accounts receivable, net (18,258) 15,081 (33,753)
Other current assets (7,390) 975 (9,979)
Accounts payable (2,483) (7,537) 7,559
Other current liabilities 37,216 (12,095) 14,047
Net cash provided by operating activities 445,909 426,644 418,159
Cash flows from investing activities:      
Additions to property and equipment (413,065) (420,748) (519,872)
Proceeds from sales of property and equipment 146,824 136,873 170,900
Investment in equity securities (5,000) 0 0
Decrease in notes receivable 7,966 11,566 20,898
Issuance of notes receivable 0 0 (3,300)
Net cash used in investing activities (263,275) (272,309) (331,374)
Cash flows from financing activities:      
Repayments of short-term debt (90,000) 0 (40,000)
Proceeds from issuance of short-term debt 40,000 0 40,000
Repayments of long-term debt (50,000) (100,000) (20,000)
Proceeds from issuance of long-term debt 0 275,000 70,000
Change in net checks issued in excess of cash balances 0 0 (21,539)
Dividends on common stock (24,888) (286,190) (23,013)
Repurchases of common stock (56,521) (42,301) (72,165)
Tax withholding related to net share settlements of restricted stock awards (4,553) (1,899) (1,371)
Stock options exercised 0 171 476
Net cash used in financing activities (185,962) (155,219) (67,612)
Effect of exchange rate fluctuations on cash (780) 396 (374)
Net increase (decrease) in cash, cash equivalents and restricted cash (4,108) (488) 18,799
Cash, cash equivalents and restricted cash, beginning of period 33,442 33,930 15,131
Cash, cash equivalents and restricted cash, end of period 29,334 33,442 33,930
Supplemental disclosures of cash flow information:      
Interest paid 4,415 6,441 2,690
Income taxes paid 54,173 49,599 11,355
Supplemental schedule of non-cash investing activities:      
Notes receivable issued upon sale of property and equipment 3,441 6,764 13,140
Change in fair value of interest rate swaps (5,238) (651) 255
Property and equipment acquired included in accounts payable 12,250 21,138 16,748
Property and equipment disposed included in other receivables 30 18,600 674
Dividends accrued but not yet paid at end of period 6,114 6,232 6,340
Reconciliation of cash, cash equivalents and restricted cash      
Cash and cash equivalents 29,334 26,418 33,930
Restricted cash included in other current assets 0 7,024 0
Cash, cash equivalents and restricted cash, end of period $ 29,334 $ 33,442 $ 33,930