XPO Inc
For the period ended Sep 30, 2024. Filed Oct 30, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Oct 30, 2024
XPO$188.21+0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Nine Months Ended September 30, | ||
|---|---|---|
| (In millions) | 2024 | 2023 |
| Cash flows from operating activities of continuing operations | ||
| Net income | $312 | $131 |
| Loss from discontinued operations, net of taxes | — | (3) |
| Income from continuing operations | 312 | 134 |
| Adjustments to reconcile income from continuing operations to net cash from operating activities | ||
| Depreciation and amortization | 365 | 318 |
| Stock compensation expense | 64 | 58 |
| Accretion of debt | 8 | 8 |
| Deferred tax expense | 39 | 16 |
| Gains on sales of property and equipment | (5) | (4) |
| Other | — | 46 |
| Changes in assets and liabilities | ||
| Accounts receivable | (87) | (141) |
| Other assets | (71) | (24) |
| Accounts payable | (29) | (38) |
| Accrued expenses and other liabilities | 21 | 70 |
| Net cash provided by operating activities from continuing operations | 619 | 443 |
| Cash flows from investing activities of continuing operations | ||
| Payment for purchases of property and equipment | (623) | (494) |
| Proceeds from sale of property and equipment | 17 | 19 |
| Proceeds from settlement of cross-currency swaps | — | 2 |
| Proceeds from sale of investment | 8 | — |
| Net cash used in investing activities from continuing operations | (598) | (473) |
| Cash flows from financing activities of continuing operations | ||
| Proceeds from issuance of debt | — | 1,977 |
| Repurchase of debt | — | (2,003) |
| Repayment of debt and finance leases | (64) | (50) |
| Payment for debt issuance costs | (4) | (15) |
| Change in bank overdrafts | 32 | 30 |
| Payment for tax withholdings for restricted shares | (21) | (12) |
| Other | (1) | 1 |
| Net cash used in financing activities from continuing operations | (59) | (72) |
| Cash flows from discontinued operations | ||
| Operating activities of discontinued operations | — | (11) |
| Investing activities of discontinued operations | — | 2 |
| Net cash used in discontinued operations | — | (9) |
| Effect of exchange rates on cash, cash equivalents and restricted cash | 5 | 2 |
| Net decrease in cash, cash equivalents and restricted cash | (33) | (109) |
| Cash, cash equivalents and restricted cash, beginning of period | 419 | 470 |
| Cash, cash equivalents and restricted cash, end of period | $385 | $361 |
| Supplemental disclosure of cash flow information | ||
| Leased assets obtained in exchange for new operating lease liabilities | $175 | $80 |
| Leased assets obtained in exchange for new finance lease liabilities | 62 | 52 |
| Cash paid for interest | 148 | 109 |
| Cash paid for income taxes | 71 | 36 |
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