v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net earnings $ 141,553 $ 117,740
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 179,410 179,476
Noncash lease expense 23,803 24,404
Share-based compensation 18,048 18,444
Loss on sale of revenue equipment and other 324 6,476
Deferred income taxes (19,581) (36,058)
Changes in operating assets and liabilities:    
Trade accounts receivable (167,085) 21,337
Other assets 30,443 35,870
Trade accounts payable 99,754 (3,408)
Income taxes payable or receivable 58,881 72,573
Claims accruals 11,113 16,444
Accrued payroll and other accrued expenses (23,625) (49,106)
Net cash provided by operating activities 353,038 404,192
Cash flows from investing activities:    
Additions to property and equipment (110,271) (245,812)
Net proceeds from sale of equipment 39,540 20,762
Net cash used in investing activities (70,731) (225,050)
Cash flows from financing activities:    
Proceeds from issuances of long-term debt 475,000 750,000
Payments on long-term debt (700,000) (500,000)
Proceeds from revolving lines of credit and other 536,500 656,900
Payments on revolving lines of credit and other (476,200) (805,602)
Purchase of treasury stock (80,063) (234,129)
Stock repurchased for payroll taxes and other (7,670) (5,883)
Dividends paid (42,595) (44,004)
Net cash used in financing activities (295,028) (182,718)
Net change in cash and cash equivalents (12,721) (3,576)
Cash and cash equivalents at beginning of period 17,284 46,983
Cash and cash equivalents at end of period 4,563 43,407
Supplemental disclosure of cash flow information:    
Interest 36,149 26,307
Income taxes 2,980 3,747
Noncash investing activities    
Accruals for equipment received $ 20,690 $ 72,117