10-Q Filing

OLD DOMINION FREIGHT LINE, INC. CIK: 878927 Q2 2019

Filing Information

Form Type	10-Q
Accession Number	`0001564590-19-029912`
Period End Date	20190630
Filing Date	20190807
Fiscal Year	2019
Fiscal Period	Q2
XBRL Instance	odfl-10q_20190630_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 96 Cash Flow Statement 41 Stockholders Equity 6

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Customer receivables, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$10.02M	USD	Point-in-time
Customer receivables, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$9.91M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.10	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.10	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$140.57M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	140.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$127.46M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$228.96M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	140.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$190.28M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	81.23M	shares	Point-in-time
Customer receivables, less allowances of $10,019 and $9,913, respectively	`AccountsReceivableNetCurrent`	$427.57M	USD	Point-in-time
Customer receivables, less allowances of $10,019 and $9,913, respectively	`AccountsReceivableNetCurrent`	$449.98M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	80.14M	shares	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$8.16M	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$40.69M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$54.31M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$47.69M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$706.23M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$741.42M	USD	Point-in-time
Revenue equipment	`MachineryAndEquipmentGross`	$1.81B	USD	Point-in-time
Revenue equipment	`MachineryAndEquipmentGross`	$1.91B	USD	Point-in-time
Land and structures	`BuildingsLandAndImprovementsGross`	$1.90B	USD	Point-in-time
Land and structures	`BuildingsLandAndImprovementsGross`	$1.80B	USD	Point-in-time
Other fixed assets	`PropertyPlantAndEquipmentOther`	$477.87M	USD	Point-in-time
Other fixed assets	`PropertyPlantAndEquipmentOther`	$454.43M	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$10.62M	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$11.01M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentGross`	$4.07B	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentGross`	$4.29B	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.44B	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.32B	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$2.75B	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$2.86B	USD	Point-in-time
Goodwill	`Goodwill`	$19.46M	USD	Point-in-time
Goodwill	`Goodwill`	$19.46M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$139.65M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$64.65M	USD	Point-in-time
Total assets	`Assets`	$3.55B	USD	Point-in-time
Total assets	`Assets`	$3.76B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$78.52M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$85.12M	USD	Point-in-time
Compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$198.46M	USD	Point-in-time
Compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$191.13M	USD	Point-in-time
Claims and insurance accruals	`SelfInsuranceReserveCurrent`	$50.80M	USD	Point-in-time
Claims and insurance accruals	`SelfInsuranceReserveCurrent`	$53.26M	USD	Point-in-time
Other accrued liabilities	`AccruedLiabilitiesCurrent`	$45.90M	USD	Point-in-time
Other accrued liabilities	`AccruedLiabilitiesCurrent`	$26.50M	USD	Point-in-time
Income taxes payable	`IncomeTaxesPayable`	$13.15M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$356.73M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$386.11M	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$45.00M	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$45.00M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$281.44M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$215.40M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$247.67M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$247.67M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$508.07M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$574.11M	USD	Point-in-time
Total liabilities	`Liabilities`	$864.80M	USD	Point-in-time
Total liabilities	`Liabilities`	$960.22M	USD	Point-in-time
Commitments and contingent liabilities	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingent liabilities	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock - $0.10 par value, 140,000,000 shares authorized, 80,138,666 and 81,231,131 shares outstanding at June 30, 2019 and December 31, 2018, respectively	`CommonStockValueOutstanding`	$8.12M	USD	Point-in-time
Common stock - $0.10 par value, 140,000,000 shares authorized, 80,138,666 and 81,231,131 shares outstanding at June 30, 2019 and December 31, 2018, respectively	`CommonStockValueOutstanding`	$8.01M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$142.18M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$144.94M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.65B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.53B	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$2.48B	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$2.80B	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$2.68B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$3.55B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$3.76B	USD	Point-in-time

Income Statement 96 line items

Line Item	Tag	Value	Unit	Period
Revenue from operations	`RevenueFromContractWithCustomerIncludingAssessedTax`	$1.96B	USD	2 Qtrs
Revenue from operations	`RevenueFromContractWithCustomerIncludingAssessedTax`	$1.03B	USD	1 Quarter
Revenue from operations	`RevenueFromContractWithCustomerIncludingAssessedTax`	$2.05B	USD	2 Qtrs
Revenue from operations	`RevenueFromContractWithCustomerIncludingAssessedTax`	$1.06B	USD	1 Quarter
Salaries, wages and benefits	`LaborAndRelatedExpense`	$532.58M	USD	1 Quarter
Salaries, wages and benefits	`LaborAndRelatedExpense`	$1.02B	USD	2 Qtrs
Salaries, wages and benefits	`LaborAndRelatedExpense`	$1.05B	USD	2 Qtrs
Salaries, wages and benefits	`LaborAndRelatedExpense`	$522.25M	USD	1 Quarter
Operating supplies and expenses	`OperatingCostsAndExpenses`	$243.77M	USD	2 Qtrs
Operating supplies and expenses	`OperatingCostsAndExpenses`	$242.50M	USD	2 Qtrs
Operating supplies and expenses	`OperatingCostsAndExpenses`	$122.41M	USD	1 Quarter
Operating supplies and expenses	`OperatingCostsAndExpenses`	$126.57M	USD	1 Quarter
General supplies and expenses	`OtherSellingAndGeneralExpense`	$63.95M	USD	2 Qtrs
General supplies and expenses	`OtherSellingAndGeneralExpense`	$29.89M	USD	1 Quarter
General supplies and expenses	`OtherSellingAndGeneralExpense`	$59.87M	USD	2 Qtrs
General supplies and expenses	`OtherSellingAndGeneralExpense`	$32.39M	USD	1 Quarter
Operating taxes and licenses	`DirectTaxesAndLicensesCosts`	$54.95M	USD	2 Qtrs
Operating taxes and licenses	`DirectTaxesAndLicensesCosts`	$28.16M	USD	1 Quarter
Operating taxes and licenses	`DirectTaxesAndLicensesCosts`	$58.45M	USD	2 Qtrs
Operating taxes and licenses	`DirectTaxesAndLicensesCosts`	$29.38M	USD	1 Quarter
Insurance and claims	`OperatingInsuranceAndClaimsCostsProduction`	$22.76M	USD	2 Qtrs
Insurance and claims	`OperatingInsuranceAndClaimsCostsProduction`	$11.34M	USD	1 Quarter
Insurance and claims	`OperatingInsuranceAndClaimsCostsProduction`	$22.44M	USD	2 Qtrs
Insurance and claims	`OperatingInsuranceAndClaimsCostsProduction`	$11.59M	USD	1 Quarter
Communications and utilities	`DirectCommunicationsAndUtilitiesCosts`	$13.97M	USD	2 Qtrs
Communications and utilities	`DirectCommunicationsAndUtilitiesCosts`	$7.44M	USD	1 Quarter
Communications and utilities	`DirectCommunicationsAndUtilitiesCosts`	$6.13M	USD	1 Quarter
Communications and utilities	`DirectCommunicationsAndUtilitiesCosts`	$14.48M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$125.64M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$62.57M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$56.23M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$109.72M	USD	2 Qtrs
Purchased transportation	`PurchasedTransportation`	$26.04M	USD	1 Quarter
Purchased transportation	`PurchasedTransportation`	$24.47M	USD	1 Quarter
Purchased transportation	`PurchasedTransportation`	$45.16M	USD	2 Qtrs
Purchased transportation	`PurchasedTransportation`	$47.78M	USD	2 Qtrs
Miscellaneous expenses, net	`OtherCostAndExpenseOperating`	$9.90M	USD	2 Qtrs
Miscellaneous expenses, net	`OtherCostAndExpenseOperating`	$13.39M	USD	2 Qtrs
Miscellaneous expenses, net	`OtherCostAndExpenseOperating`	$4.65M	USD	1 Quarter
Miscellaneous expenses, net	`OtherCostAndExpenseOperating`	$5.09M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$813.02M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$1.64B	USD	2 Qtrs
Total operating expenses	`CostsAndExpenses`	$826.18M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$1.59B	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$412.92M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$369.82M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$220.48M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$234.49M	USD	1 Quarter
Interest expense	`InterestAndDebtExpense`	$22.00K	USD	2 Qtrs
Interest expense	`InterestAndDebtExpense`	$282.00K	USD	2 Qtrs
Interest expense	`InterestAndDebtExpense`	$160.00K	USD	1 Quarter
Interest expense	`InterestAndDebtExpense`	$11.00K	USD	1 Quarter
Interest income	`InvestmentIncomeNet`	$1.12M	USD	2 Qtrs
Interest income	`InvestmentIncomeNet`	$668.00K	USD	1 Quarter
Interest income	`InvestmentIncomeNet`	$3.25M	USD	2 Qtrs
Interest income	`InvestmentIncomeNet`	$1.77M	USD	1 Quarter
Other expense (income), net	`OtherNonoperatingIncomeExpense`	$76.00K	USD	2 Qtrs
Other expense (income), net	`OtherNonoperatingIncomeExpense`	$-1.97M	USD	2 Qtrs
Other expense (income), net	`OtherNonoperatingIncomeExpense`	$-524.00K	USD	1 Quarter
Other expense (income), net	`OtherNonoperatingIncomeExpense`	$334.00K	USD	1 Quarter
Total non-operating (income) expense	`NonoperatingIncomeExpense`	$1.08M	USD	1 Quarter
Total non-operating (income) expense	`NonoperatingIncomeExpense`	$991.00K	USD	1 Quarter
Total non-operating (income) expense	`NonoperatingIncomeExpense`	$-863.00K	USD	2 Qtrs
Total non-operating (income) expense	`NonoperatingIncomeExpense`	$3.05M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$415.96M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$235.57M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$221.47M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$368.96M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$96.19M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$61.50M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$58.04M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$108.57M	USD	2 Qtrs
Net income	`ProfitLoss`	$163.43M	USD	1 Quarter
Net income	`ProfitLoss`	$272.77M	USD	2 Qtrs
Net income	`ProfitLoss`	$174.07M	USD	1 Quarter
Net income	`ProfitLoss`	$307.39M	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$3.32	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$3.81	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$2.16	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$1.99	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$3.80	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$2.16	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$1.99	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$3.32	USD	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	82.07M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	80.78M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	82.16M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	80.52M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	82.17M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	80.65M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	82.26M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	80.89M	shares	2 Qtrs
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.13	USD	1 Quarter
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.17	USD	1 Quarter
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.26	USD	2 Qtrs
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.34	USD	2 Qtrs

Cash Flow Statement 41 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$163.43M	USD	1 Quarter
Net income	`ProfitLoss`	$272.77M	USD	2 Qtrs
Net income	`ProfitLoss`	$174.07M	USD	1 Quarter
Net income	`ProfitLoss`	$307.39M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$125.64M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$62.57M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$56.23M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$109.72M	USD	2 Qtrs
Loss on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-785.00K	USD	2 Qtrs
Loss on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-718.00K	USD	2 Qtrs
Share-based compensation	`ShareBasedCompensation`	$4.22M	USD	2 Qtrs
Share-based compensation	`ShareBasedCompensation`	$2.27M	USD	2 Qtrs
Other operating activities, net	`IncreaseDecreaseInOperatingCapital`	$-23.91M	USD	2 Qtrs
Other operating activities, net	`IncreaseDecreaseInOperatingCapital`	$-39.15M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$461.88M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$424.69M	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquireProductiveAssets`	$229.96M	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquireProductiveAssets`	$292.27M	USD	2 Qtrs
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$366.00K	USD	2 Qtrs
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$528.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-291.74M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-229.59M	USD	2 Qtrs
Principal payments under long-term debt agreements	`RepaymentsOfLongTermDebt`	$50.00M	USD	2 Qtrs
Payments for share repurchases	`PaymentsForRepurchaseOfCommonStock`	$47.39M	USD	2 Qtrs
Payments for share repurchases	`PaymentsForRepurchaseOfCommonStock`	$164.73M	USD	2 Qtrs
Dividends paid	`PaymentsOfDividends`	$21.37M	USD	2 Qtrs
Dividends paid	`PaymentsOfDividends`	$27.43M	USD	2 Qtrs
Other financing activities, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-1.07M	USD	2 Qtrs
Other financing activities, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-1.45M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-119.84M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-193.62M	USD	2 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$13.11M	USD	2 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$38.68M	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$140.57M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$127.46M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$228.96M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$190.28M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$140.57M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$127.46M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$228.96M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$190.28M	USD	Point-in-time

Stockholders Equity 6 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$2.48B	USD	Point-in-time
Balance	`StockholdersEquity`	$2.80B	USD	Point-in-time
Balance	`StockholdersEquity`	$2.68B	USD	Point-in-time
Balance	`StockholdersEquity`	$2.48B	USD	Point-in-time
Balance	`StockholdersEquity`	$2.80B	USD	Point-in-time
Balance	`StockholdersEquity`	$2.68B	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.