v3.26.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Net cash provided by operating activities    
Net income $ 119.6 $ 81.5
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 328.1 338.8
Gains on sales of property and equipment—net (19.3) (9.6)
Proceeds from lease receipts 46.2 46.1
Deferred income taxes (1.6) 4.3
Long-term incentive and share-based compensation expense 13.3 13.1
Loss on investments in equity securities—net 0.0 0.5
Other noncash items—net 2.2 0.6
Changes in operating assets and liabilities:    
Receivables (155.0) (1.8)
Other assets (29.4) (14.1)
Claims reserves and receivables—net (19.3) 1.3
Payables 40.9 (22.8)
Other liabilities 77.5 13.5
Net cash provided by operating activities 403.2 451.4
Investing Activities:    
Purchases of transportation equipment (290.3) (311.5)
Purchases of other property and equipment (42.0) (25.1)
Proceeds from sale of property and equipment 123.6 78.9
Proceeds from sale of off-lease inventory 15.8 14.2
Purchases of lease equipment (22.3) (62.4)
Proceeds from marketable securities 7.4 7.6
Investments in equity securities and equity method investment (0.6) (0.2)
Investments in notes receivable 0.0 (13.0)
Net cash used in investing activities (208.4) (311.5)
Financing Activities:    
Proceeds from lines of credit 0.0 50.0
Repayments of lines of credit 0.0 (50.0)
Proceeds from issuance of long-term debt 0.0 100.0
Payments of debt and finance lease obligations (9.5) (100.5)
Dividends paid (52.1) (50.3)
Repurchases of common stock (5.2) (8.3)
Other financing activities (3.3) (4.3)
Net cash used in financing activities (70.1) (63.4)
Net increase in cash and cash equivalents 124.7 76.5
Cash and Cash Equivalents:    
Cash and cash equivalents, beginning balance 201.5 117.6
Cash and cash equivalents, ending balance 326.2 194.1
Noncash investing and financing activity:    
Transportation and lease equipment purchases in accounts payable 18.6 21.9
Dividends declared but not yet paid 18.5 17.5
Cash paid during the period for:    
Interest 15.9 26.1
Income taxes—net of refunds $ 5.5 $ 5.0