Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Old Dominion Freight Line Inc., consolidated cash flow statement

US$ in thousands

12 months ended:	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Net income	1,377,159)	1,034,375)	672,682)	615,518)	605,668)
Depreciation and amortization	276,066)	259,899)	261,267)	253,681)	230,357)
Noncash lease expense	16,658)	14,890)	11,963)	11,066)	—)
(Gain) loss on disposal of property and equipment	(3,425)	(563)	736)	6,066)	477)
Deferred income taxes	62,008)	30,165)	(41,011)	13,157)	57,709)
Share-based compensation	15,893)	15,039)	11,337)	16,717)	4,894)
Customer and other receivables, net	(13,009)	(125,562)	(49,045)	30,330)	(34,666)
Prepaid expenses and other assets	(24,714)	(38,387)	(1,722)	(16,807)	(12,003)
Accounts payable	23,756)	14,008)	(1,743)	(8,264)	4,789)
Compensation, benefits and other accrued liabilities	(11,202)	32,437)	72,928)	3,263)	47,552)
Claims and insurance accruals	5,464)	10,963)	(1,459)	5,297)	8,142)
Income taxes, net	6,480)	(27,929)	8,750)	32,612)	(17,813)
Other liabilities	(39,552)	(6,729)	(11,659)	21,252)	5,010)
Changes in assets and liabilities	(52,777)	(141,199)	16,050)	67,683)	1,011)
Adjustments to reconcile net income to net cash provided by operating activities	314,423)	178,231)	260,342)	368,370)	294,448)
Net cash provided by operating activities	1,691,582)	1,212,606)	933,024)	983,888)	900,116)
Purchase of property and equipment	(775,148)	(550,077)	(225,081)	(479,325)	(588,292)
Proceeds from sale of property and equipment	22,096)	19,548)	3,690)	5,686)	6,983)
Purchase of short-term investments	(163,720)	(359,389)	(360,160)	—)	—)
Proceeds from maturities of short-term investments	369,300)	435,130)	29,988)	—)	—)
Other investing activities, net	—)	(500)	(100)	—)	918)
Net cash used in investing activities	(547,472)	(455,288)	(551,663)	(473,639)	(580,391)
Proceeds from issuance of long-term debt	—)	—)	99,923)	—)	—)
Principal payments under debt agreements	—)	—)	(45,000)	—)	(50,000)
Dividends paid	(134,484)	(92,366)	(71,023)	(54,552)	(42,566)
Payments for share repurchases	(1,277,219)	(536,465)	(364,057)	(240,960)	(163,265)
Forward contract for accelerated share repurchases	—)	(62,500)	—)	—)	—)
Other financing activities, net	(8,659)	(4,853)	(3,345)	(1,448)	(1,074)
Net cash used in financing activities	(1,420,362)	(696,184)	(383,502)	(296,960)	(256,905)
Increase (decrease) in cash and cash equivalents	(276,252)	61,134)	(2,141)	213,289)	62,820)
Cash and cash equivalents at beginning of year	462,564)	401,430)	403,571)	190,282)	127,462)
Cash and cash equivalents at end of year	186,312)	462,564)	401,430)	403,571)	190,282)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

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Cash flow statement item	Description	The company
Net cash provided by operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	Old Dominion Freight Line Inc. net cash provided by operating activities increased from 2020 to 2021 and from 2021 to 2022.
Net cash used in investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	Old Dominion Freight Line Inc. net cash used in investing activities increased from 2020 to 2021 but then slightly decreased from 2021 to 2022 not reaching 2020 level.
Net cash used in financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	Old Dominion Freight Line Inc. net cash used in financing activities decreased from 2020 to 2021 and from 2021 to 2022.

Old Dominion Freight Line Inc. (NASDAQ:ODFL)

Cash Flow Statement