XML 24 R8.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Condensed Statements of Cash Flows (Unaudited) (USD $)
6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Net income (loss) $ 3,611,000 $ (809,000)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Provision for losses on accounts receivable 296,000 358,000
Deferred gain on sales to equity method investee 24,000  
Depreciation and amortization 24,387,000 26,768,000
Amortization of deferred financing fees 246,000 197,000
Deferred income tax expense 3,952,000 378,000
Income tax benefit arising from restricted share vesting   (432,000)
Reversal of deferred gain on fuel hedges   (623,000)
Unrealized loss on ineffective portion of fuel hedges 200,000  
Casualty premium credit (4,000,000)  
Stock-based compensation expense 534,000 876,000
Equity in income of affiliate (670,000) (125,000)
Gain on disposition of property and equipment (3,842,000) (4,990,000)
Changes in operating assets and liabilities:    
Receivables and advances (7,328,000) (4,424,000)
Prepaid expenses and other assets (158,000) 1,912,000
Inventory and supplies 261,000 (143,000)
Insurance and claims accrual 4,521,000 (1,226,000)
Accounts payable and accrued expenses 4,234,000 (4,956,000)
Net cash flows provided by operating activities 26,268,000 12,761,000
Cash flows from investing activities:    
Acquisition of property and equipment (10,939,000) (44,969,000)
Investment in affiliated company (1,000,000) (1,500,000)
Return of investment in affiliated company 139,000  
Proceeds from disposition of property and equipment 37,685,000 32,829,000
Net cash flows provided by /(used in) investing activities 25,885,000 (13,640,000)
Cash flows from financing activities:    
Change in checks outstanding in excess of bank balances 2,078,000 2,531,000
Proceeds from issuance of notes payable 250,000 23,657,000
Income tax benefit arising from restricted share vesting   432,000
Repayments of notes payable (43,142,000) (45,581,000)
Repayments of capital lease obligations (962,000) (728,000)
(Repayments)/proceeds under revolving credit facility, net (9,859,000) 14,036,000
Payment of minimum tax withholdings on stock compensation   (540,000)
Debt refinancing costs (27,000) (8,000)
Net cash used in financing activities (51,662,000) (6,201,000)
Net change in cash and cash equivalents 491,000 (7,080,000)
Cash and cash equivalents at beginning of period 3,895,000 9,361,000
Cash and cash equivalents at end of period $ 4,386,000 $ 2,281,000