v3.25.2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 216,320 $ 218,261
Cash and cash equivalents – restricted [1] 123,052 147,684
Trade receivables, net of allowance for doubtful accounts of $38,357 and $37,797, respectively 848,282 803,696
Contract balance – revenue in transit 11,110 7,238
Prepaid expenses 112,699 123,089
Assets held for sale 70,857 82,993
Income tax receivable 28,016 37,260
Other current assets 33,682 28,520
Total current assets 1,444,018 1,448,741
Gross property and equipment 7,134,871 7,104,514
Less: accumulated depreciation and amortization (2,518,802) (2,401,129)
Property and equipment, net 4,616,069 4,703,385
Operating lease right-of-use-assets 322,710 372,841
Goodwill 3,962,142 3,962,142
Intangible assets, net 2,018,606 2,057,044
Other long-term assets 159,890 154,379
Total assets 12,523,435 12,698,532
Current liabilities:    
Accounts payable 301,867 329,697
Accrued payroll and purchased transportation 202,969 194,875
Accrued liabilities 72,865 64,100
Claims accruals – current portion 247,566 249,953
Finance lease liabilities and long-term debt – current portion 249,526 288,428
Operating lease liabilities – current portion 111,091 120,715
Accounts receivable securitization – current portion 439,128 458,983
Total current liabilities 1,625,012 1,706,751
Revolving line of credit 297,000 232,000
Long-term debt – less current portion 1,392,325 1,445,313
Finance lease liabilities – less current portion 415,895 457,303
Operating lease liabilities – less current portion 230,369 274,549
Claims accruals – less current portion 337,359 335,880
Deferred tax liabilities 885,917 919,814
Other long-term liabilities 206,640 210,117
Total liabilities 5,390,517 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; 162,277 and 161,896 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively. $ 1,623 $ 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) 162,277 161,896
Common stock, shares outstanding (in shares) 162,277 161,896
Additional paid-in capital $ 4,464,204 $ 4,446,726
Accumulated other comprehensive loss (88) (442)
Retained earnings 2,658,937 2,661,064
Total Knight-Swift stockholders' equity 7,124,676 7,108,967
Noncontrolling interest 8,242 7,838
Total stockholders’ equity 7,132,918 7,116,805
Total liabilities and stockholders’ equity $ 12,523,435 $ 12,698,532
Common Class A [Member]    
Stockholders’ equity:    
Common stock, shares outstanding (in shares) 162,277 161,896
[1] Reflects cash and cash equivalents that are primarily restricted for claims payments.