Schneider National Inc
For the period ended Dec 31, 2024. Filed Feb 21, 2025.
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FY2024 · Filed Feb 21, 2025
SNDR$29.05+0.4%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS(in millions)
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Operating Activities: | |||
| Net income | $117.0 | $238.5 | $457.8 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 413.7 | 382.5 | 350.0 |
| Gains on sales of property and equipment—net | (3.5) | (28.7) | (85.7) |
| Proceeds from lease receipts | 62.0 | 74.9 | 83.5 |
| Loss on sale of business | — | — | 5.0 |
| Deferred income taxes | 3.9 | 55.8 | 83.0 |
| Long-term incentive and share-based compensation expense | 12.6 | 15.8 | 16.5 |
| Gains on investments in equity securities—net | (2.3) | (19.7) | (13.7) |
| Other noncash items—net | 2.3 | 0.5 | (15.2) |
| Changes in operating assets and liabilities: | |||
| Receivables | 70.1 | 42.4 | 51.6 |
| Other assets | (6.5) | (21.2) | (43.4) |
| Claims reserves and receivables—net | 38.0 | 9.4 | 8.5 |
| Payables | (32.7) | (32.6) | (42.2) |
| Other liabilities | 11.5 | (37.6) | 0.7 |
| Net cash provided by operating activities | 686.1 | 680.0 | 856.4 |
| Investing Activities: | |||
| Purchases of transportation equipment | (414.0) | (660.1) | (535.1) |
| Purchases of other property and equipment | (65.1) | (42.3) | (52.9) |
| Proceeds from sale of property and equipment | 98.8 | 128.6 | 126.3 |
| Proceeds from sale of off-lease inventory | 32.7 | 34.6 | 25.8 |
| Purchases of lease equipment | (60.2) | (105.2) | (105.6) |
| Proceeds from government grants | 2.2 | 14.6 | — |
| Proceeds from marketable securities | 11.8 | 6.2 | 6.2 |
| Purchases of marketable securities | (1.9) | (16.2) | (7.6) |
| Investments in equity securities and equity method investment | (0.1) | (17.6) | (24.2) |
| Investments in notes receivable | (2.5) | (10.0) | — |
| Business acquisitions, net of cash acquired | (393.2) | (240.2) | (31.7) |
| Net cash used in investing activities | (791.5) | (907.6) | (598.8) |
| Financing Activities: | |||
| Proceeds under revolving credit agreements | 65.0 | 186.0 | — |
| Payments under revolving credit agreements | (100.0) | (81.0) | — |
| Proceeds from long-term debt | 300.0 | 50.0 | — |
| Payments of debt and finance lease obligations | (44.5) | (73.9) | (62.0) |
| Dividends paid | (66.6) | (63.6) | (55.7) |
| Repurchases of common stock | (29.5) | (66.9) | — |
| Other financing activities | (3.8) | (6.3) | 1.0 |
| Net cash provided by (used in) financing activities | 120.6 | (55.7) | (116.7) |
| Net increase (decrease) in cash and cash equivalents | 15.2 | (283.3) | 140.9 |
| Cash and Cash Equivalents: | |||
| Beginning of period | 102.4 | 385.7 | 244.8 |
| End of period | $117.6 | $102.4 | $385.7 |
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Additional Cash Flow Information: | |||
| Noncash investing and financing activity: | |||
| Transportation and lease equipment purchases in accounts payable | $5.2 | $8.7 | $13.0 |
| Dividends declared but not yet paid | 17.4 | 16.9 | 16.2 |
| Noncash equity method investment | — | 3.3 | — |
| Sale of assets in exchange for notes receivable | 4.0 | — | 2.3 |
| Cash paid (refunded) during the period for: | |||
| Interest | 14.3 | 10.2 | 9.3 |
| Income taxes—net of refunds | (0.2) | 67.6 | 52.8 |
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