Knight-Swift Transportation Holdings Inc
For the period ended Dec 31, 2024. Filed Feb 20, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 20, 2025
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Item 8. Financial Statements and Supplementary Data
| ITEM 8. | FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA |
|---|
The Consolidated Financial Statements of the Company as of December 31, 2024 and 2023 and for the years ended December 31, 2024, 2023, and 2022, together with related notes and the report of Grant Thornton LLP, independent registered public accountants, are set forth on the following pages. Other required financial information set forth herein is more fully described in Item 15 of this Annual Report.
Audited Financial Statements of Knight-Swift Transportation Holdings Inc.
| Index to Consolidated Financial Statements | ||
|---|---|---|
| Consolidated Financial Statements | Page | |
| Report of independent registered public accounting firm [PCAOB ID Number 248] | 76 | |
| Consolidated balance sheets as of December 31, 2024 and 2023 | 78 | |
| Consolidated statements of comprehensive income for the years ended December 31, 2024, 2023, and 2022 | 79 | |
| Consolidated statements of stockholders’ equity for the years ended December 31, 2024, 2023, and, 2022 | 80 | |
| Consolidated statements of cash flows for the years ended December 31, 2024, 2023, and, 2022 | 81 | |
| Notes to Consolidated Financial Statements | ||
| Note 1 | Introduction and Basis of Presentation | 83 |
| Note 2 | Summary of Significant Accounting Policies | 84 |
| Note 3 | Recently Issued Accounting Pronouncements | 91 |
| Note 4 | Acquisitions | 92 |
| Note 5 | Equity Investments | 95 |
| Note 6 | Trade Receivables, net | 97 |
| Note 7 | Assets Held for Sale | 98 |
| Note 8 | Goodwill and Other Intangible Assets | 98 |
| Note 9 | Accrued Payroll and Purchased Transportation and Accrued Liabilities | 99 |
| Note 10 | Claims Accruals | 100 |
| Note 11 | Income Taxes | 101 |
| Note 12 | Accounts Receivable Securitization | 103 |
| Note 13 | Debt and Financing | 105 |
| Note 14 | Leases | 107 |
| Note 15 | Defined Benefit Pension Plan | 109 |
| Note 16 | Purchase Commitments | 111 |
| Note 17 | Contingencies and Legal Proceedings | 111 |
| Note 18 | Share Repurchase Plans | 112 |
| Note 19 | Stock-based Compensation | 112 |
| Note 20 | Weighted Average Shares Outstanding | 116 |
| Note 21 | Fair Value Measurement | 116 |
| Note 22 | Related Party Transactions | 120 |
| Note 23 | Information by Segment, Geography, and Customer Concentration | 120 |
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