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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 ($)
OPERATING ACTIVITIES      
Net income $ 70,806 $ 72,967 $ 72,677
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 110,381 100,932 101,329
Deferred income taxes 8,148 4,699 2,755
Stock-based Compensation 2,092 2,065 539
Gain on disposal of property and equipment (14,830) (31,341) (24,963)
Changes in certain working capital items:      
Trade receivables 1,176 6,676 15,338
Prepaid expenses and other current assets (3,628) 509 1,227
Accounts payable, accrued liabilities, and accrued expenses 3,062 (10,758) (26,012)
Accrued income taxes 1,643 623 3,653
Net cash provided by operating activities 178,850 146,372 146,543
INVESTING ACTIVITIES      
Proceeds from sale of property and equipment 93,160 92,942 130,752
Purchases of property and equipment, net of trades (204,337) (163,780) (169,276)
Acquisition of business, net of cash acquired 0 (61,927) 0
Change in other assets 129 (26) 710
Net cash (used in) provided by investing activities (111,048) (132,791) (37,814)
FINANCING ACTIVITIES      
Cash dividends paid (6,502) (6,563) (6,589)
Shares withheld for employee taxes related to stock-based compensation (582) (532) (213)
Repayments on acquired debt 0 (93,348) 0
Repurchases of common stock (25,654) 0 (25,087)
Net cash used in financing activities (32,738) (100,443) (31,889)
Net increase (decrease) in cash, cash equivalents and restricted cash 35,064 (86,862) 76,840
CASH, CASH EQUIVALENTS AND RESTRICTED CASH      
Beginning of period 96,076 182,938 106,098
End of Period 131,140 96,076 182,938
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION      
Interest Paid 0 929 0
Cash paid during the period for income taxes, net of refunds 13,664 18,888 12,832
Noncash investing and financing activities:      
Purchased property and equipment in accounts payable 2,172 1,476 1,944
Sold revenue equipment in other current assets 3,383 1,282 3,783
Treasury stock acquired in accounts payable 485 0 0
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH      
Cash and Cash Equivalents 113,852 76,684 161,448
Restricted Cash included in other current assets 1,075 1,594 3,105
Restricted Cash included in other assets 16,213 17,798 18,385
End of Period $ 131,140 $ 96,076 $ 182,938