Knight-Swift Transportation Holdings Inc
For the period ended Mar 31, 2024. Filed May 1, 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.
Mar 31, 2024 · Filed May 1, 2024
KNX$62.11+1.1%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 (Unaudited) —
| Quarter Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| (In thousands) | ||
| Cash flows from operating activities: | ||
| Net (loss) income | $(2,993) | $103,713 |
| Adjustments to reconcile net (loss) income to net cash provided by operating activities: | ||
| Depreciation and amortization of property, equipment, and intangibles | 200,408 | 172,149 |
| Gain on sale of property and equipment | (6,651) | (20,879) |
| Impairments | 3,982 | — |
| Deferred income taxes | (13,673) | (1,316) |
| Non-cash lease expense | 46,885 | 10,651 |
| Gain on equity securities | (110) | (1,364) |
| Other adjustments to reconcile net (loss) income to net cash provided by operating activities | 1,929 | 14,777 |
| Increase (decrease) in cash resulting from changes in: | ||
| Trade receivables | 17,995 | 35,614 |
| Income tax receivable | 7,542 | 28,753 |
| Accounts payable | (25,564) | 11,960 |
| Accrued liabilities and claims accrual | (148,098) | 8,194 |
| Operating lease liabilities | (54,270) | (10,489) |
| Other assets and liabilities | 9,893 | (6,604) |
| Net cash provided by operating activities | 37,275 | 345,159 |
| Cash flows from investing activities: | ||
| Proceeds from maturities of held-to-maturity investments | 530 | 3,620 |
| Purchases of held-to-maturity investments | — | (525) |
| Proceeds from sale of property and equipment, including assets held for sale | 50,605 | 59,345 |
| Purchases of property and equipment | (191,905) | (260,339) |
| Expenditures on assets held for sale | (32) | (360) |
| Net cash, restricted cash, and equivalents invested in acquisitions | — | (275) |
| Other cash flows from investing activities | 1,055 | 1,229 |
| Net cash used in investing activities | (139,747) | (197,305) |
| Cash flows from financing activities: | ||
| Repayments of finance leases and long-term debt | (58,781) | (22,946) |
| Borrowings (repayments) on revolving lines of credit, net | 135,000 | (43,000) |
| Borrowings under accounts receivable securitization | 12,000 | — |
| Repayments of accounts receivable securitization | (85,000) | (35,000) |
| Proceeds from common stock issued | 953 | 1,086 |
| Dividends paid | (25,909) | (22,983) |
| Other cash flows from financing activities | (486) | (11,748) |
| Net cash used in financing activities | (22,223) | (134,591) |
| Net (decrease) increase in cash, restricted cash, and equivalents | (124,695) | 13,263 |
| Cash, restricted cash, and equivalents at beginning of period | 469,686 | 385,345 |
| Cash, restricted cash, and equivalents at end of period | $344,991 | $398,608 |
Condensed Consolidated Statements of Cash Flows (Unaudited) — Continued
| Quarter Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| (In thousands) | ||
| Supplemental disclosures of cash flow information: | ||
| Cash paid (received) during the period for: | ||
| Interest | $41,264 | $21,920 |
| Income taxes | (717) | 1,295 |
| Non-cash investing and financing activities: | ||
| Equipment acquired included in accounts payable | $1,345 | $15,232 |
| Financing provided to independent contractors for equipment sold | 542 | 2,349 |
| Transfers from property and equipment to assets held for sale | 28,366 | 40,666 |
| Right-of-use assets obtained in exchange for operating lease liabilities | 5,102 | 16,281 |
| Property and equipment obtained in exchange for finance lease liabilities | 21,401 | 7,174 |
| Property and equipment obtained in exchange for debt and finance lease liabilities reclassified from operating lease liabilities | 20,025 | — |
| Reconciliation of Cash, Restricted Cash, and Equivalents: | March 31,2024 | December 31,2023 | March 31,2023 | December 31,2022 |
|---|---|---|---|---|
| (In thousands) | ||||
| Consolidated Balance Sheets | ||||
| Cash and cash equivalents | $204,762 | $168,545 | $191,245 | $196,770 |
| Cash and cash equivalents – restricted 1 | 136,174 | 297,275 | 204,348 | 185,792 |
| Other long-term assets 1 | 4,055 | 3,866 | 3,015 | 2,783 |
| Consolidated Statements of Cash Flows | ||||
| Cash, restricted cash, and equivalents | $344,991 | $469,686 | $398,608 | $385,345 |
1 Reflects cash and cash equivalents that are primarily restricted for claims payments.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.