v3.25.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 209,480 $ 218,261
Cash and cash equivalents – restricted [1] 135,152 147,684
Trade receivables, net of allowance for doubtful accounts of $38,056 and $37,797, respectively 867,258 803,696
Contract balance – revenue in transit 9,123 7,238
Prepaid expenses 124,984 123,089
Assets held for sale 62,303 82,993
Income tax receivable 13,523 37,260
Other current assets 33,034 28,520
Total current assets 1,454,857 1,448,741
Gross property and equipment 7,109,564 7,104,514
Less: accumulated depreciation and amortization (2,484,008) (2,401,129)
Property and equipment, net 4,625,556 4,703,385
Operating lease right-of-use-assets 366,559 372,841
Goodwill 3,962,142 3,962,142
Intangible assets, net 2,037,848 2,057,044
Other long-term assets 159,110 154,379
Total assets 12,606,072 12,698,532
Current liabilities:    
Accounts payable 325,573 329,697
Accrued payroll and purchased transportation 178,632 194,875
Accrued liabilities 76,025 64,100
Claims accruals – current portion 247,191 249,953
Finance lease liabilities and long-term debt – current portion 266,788 288,428
Operating lease liabilities – current portion 120,343 120,715
Accounts receivable securitization – current portion 434,056 458,983
Total current liabilities 1,648,608 1,706,751
Revolving line of credit 280,000 232,000
Long-term debt – less current portion 1,412,548 1,445,313
Finance lease liabilities – less current portion 440,520 457,303
Operating lease liabilities – less current portion 259,315 274,549
Claims accruals – less current portion 344,379 335,880
Deferred tax liabilities 897,380 919,814
Other long-term liabilities 200,517 210,117
Total liabilities 5,483,267 5,581,727
Commitments and contingencies (Notes 7, 8, and 9)
Stockholders’ equity:    
Preferred stock, par value $0.01 per share; 10,000 shares authorized; none issued $ 0 $ 0
Preferred stock, par value (in dollars per share) $ 0.01 $ 0.01
Preferred stock, shares authorized (in shares) 10,000 10,000
Preferred stock, shares issued (in shares) 0 0
Common stock, par value $0.01 per share; 500,000 shares authorized; 162,024 and 161,896 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively. $ 1,620 $ 1,619
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 500,000 500,000
Common stock, shares issued (in shares) 162,024 161,896
Common stock, shares outstanding (in shares) 162,024 161,896
Additional paid-in capital $ 4,454,631 $ 4,446,726
Accumulated other comprehensive income (loss) 21 (442)
Retained earnings 2,658,598 2,661,064
Total Knight-Swift stockholders' equity 7,114,870 7,108,967
Noncontrolling interest 7,935 7,838
Total stockholders’ equity 7,122,805 7,116,805
Total liabilities and stockholders’ equity $ 12,606,072 $ 12,698,532
Common Class A [Member]    
Stockholders’ equity:    
Common stock, shares outstanding (in shares) 162,024 161,896
[1] Reflects cash and cash equivalents that are primarily restricted for claims payments.