10-Q Filing

OLD DOMINION FREIGHT LINE, INC. CIK: 878927 Q3 2019

Filing Information

Form Type	10-Q
Accession Number	`0001564590-19-039710`
Period End Date	20190930
Filing Date	20191104
Fiscal Year	2019
Fiscal Period	Q3
XBRL Instance	odfl-10q_20190930_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 96 Cash Flow Statement 42 Stockholders Equity 6

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Customer receivables, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$9.28M	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
Common stock, shares authorized	`CommonStockSharesAuthorized`	140.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$322.29M	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
Common stock, shares outstanding	`CommonStockSharesOutstanding`	79.88M	shares	Point-in-time
Customer receivables, less allowances of $9,279 and $9,913, respectively	`AccountsReceivableNetCurrent`	$425.85M	USD	Point-in-time
Customer receivables, less allowances of $9,279 and $9,913, respectively	`AccountsReceivableNetCurrent`	$427.57M	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$12.22M	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$40.69M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$47.69M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$46.62M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$706.23M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$806.98M	USD	Point-in-time
Revenue equipment	`MachineryAndEquipmentGross`	$1.81B	USD	Point-in-time
Revenue equipment	`MachineryAndEquipmentGross`	$1.92B	USD	Point-in-time
Land and structures	`BuildingsLandAndImprovementsGross`	$1.80B	USD	Point-in-time
Land and structures	`BuildingsLandAndImprovementsGross`	$1.97B	USD	Point-in-time
Other fixed assets	`PropertyPlantAndEquipmentOther`	$487.63M	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`	$11.54M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentGross`	$4.39B	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentGross`	$4.07B	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.32B	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.46B	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$2.93B	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$2.75B	USD	Point-in-time
Goodwill	`Goodwill`	$19.46M	USD	Point-in-time
Goodwill	`Goodwill`	$19.46M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$138.08M	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`	$3.89B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$81.27M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$78.52M	USD	Point-in-time
Compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$198.46M	USD	Point-in-time
Compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$201.12M	USD	Point-in-time
Claims and insurance accruals	`SelfInsuranceReserveCurrent`	$51.61M	USD	Point-in-time
Claims and insurance accruals	`SelfInsuranceReserveCurrent`	$53.26M	USD	Point-in-time
Other accrued liabilities	`AccruedLiabilitiesCurrent`	$53.73M	USD	Point-in-time
Other accrued liabilities	`AccruedLiabilitiesCurrent`	$26.50M	USD	Point-in-time
Income taxes payable	`IncomeTaxesPayable`	$9.13M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$396.86M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$356.73M	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`	$293.36M	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`	$586.03M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$508.07M	USD	Point-in-time
Total liabilities	`Liabilities`	$864.80M	USD	Point-in-time
Total liabilities	`Liabilities`	$982.89M	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, 79,884,372 and 81,231,131 shares outstanding at September 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, 79,884,372 and 81,231,131 shares outstanding at September 30, 2019 and December 31, 2018, respectively	`CommonStockValueOutstanding`	$7.99M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$146.09M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$142.18M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.76B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.53B	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$2.62B	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$2.91B	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$2.68B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$3.89B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$3.55B	USD	Point-in-time

Income Statement 96 line items

Line Item	Tag	Value	Unit	Period
Revenue from operations	`RevenueFromContractWithCustomerIncludingAssessedTax`	$1.06B	USD	1 Quarter
Revenue from operations	`RevenueFromContractWithCustomerIncludingAssessedTax`	$3.10B	USD	3 Qtrs
Revenue from operations	`RevenueFromContractWithCustomerIncludingAssessedTax`	$1.05B	USD	1 Quarter
Revenue from operations	`RevenueFromContractWithCustomerIncludingAssessedTax`	$3.02B	USD	3 Qtrs
Salaries, wages and benefits	`LaborAndRelatedExpense`	$533.45M	USD	1 Quarter
Salaries, wages and benefits	`LaborAndRelatedExpense`	$1.59B	USD	3 Qtrs
Salaries, wages and benefits	`LaborAndRelatedExpense`	$1.56B	USD	3 Qtrs
Salaries, wages and benefits	`LaborAndRelatedExpense`	$536.51M	USD	1 Quarter
Operating supplies and expenses	`OperatingCostsAndExpenses`	$361.11M	USD	3 Qtrs
Operating supplies and expenses	`OperatingCostsAndExpenses`	$370.06M	USD	3 Qtrs
Operating supplies and expenses	`OperatingCostsAndExpenses`	$127.56M	USD	1 Quarter
Operating supplies and expenses	`OperatingCostsAndExpenses`	$117.34M	USD	1 Quarter
General supplies and expenses	`OtherSellingAndGeneralExpense`	$97.58M	USD	3 Qtrs
General supplies and expenses	`OtherSellingAndGeneralExpense`	$33.63M	USD	1 Quarter
General supplies and expenses	`OtherSellingAndGeneralExpense`	$31.21M	USD	1 Quarter
General supplies and expenses	`OtherSellingAndGeneralExpense`	$91.08M	USD	3 Qtrs
Operating taxes and licenses	`DirectTaxesAndLicensesCosts`	$82.91M	USD	3 Qtrs
Operating taxes and licenses	`DirectTaxesAndLicensesCosts`	$87.57M	USD	3 Qtrs
Operating taxes and licenses	`DirectTaxesAndLicensesCosts`	$27.95M	USD	1 Quarter
Operating taxes and licenses	`DirectTaxesAndLicensesCosts`	$29.12M	USD	1 Quarter
Insurance and claims	`OperatingInsuranceAndClaimsCostsProduction`	$11.28M	USD	1 Quarter
Insurance and claims	`OperatingInsuranceAndClaimsCostsProduction`	$12.07M	USD	1 Quarter
Insurance and claims	`OperatingInsuranceAndClaimsCostsProduction`	$34.51M	USD	3 Qtrs
Insurance and claims	`OperatingInsuranceAndClaimsCostsProduction`	$34.04M	USD	3 Qtrs
Communications and utilities	`DirectCommunicationsAndUtilitiesCosts`	$22.07M	USD	3 Qtrs
Communications and utilities	`DirectCommunicationsAndUtilitiesCosts`	$8.21M	USD	1 Quarter
Communications and utilities	`DirectCommunicationsAndUtilitiesCosts`	$22.70M	USD	3 Qtrs
Communications and utilities	`DirectCommunicationsAndUtilitiesCosts`	$8.10M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$189.14M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$63.49M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$167.80M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$58.09M	USD	1 Quarter
Purchased transportation	`PurchasedTransportation`	$23.06M	USD	1 Quarter
Purchased transportation	`PurchasedTransportation`	$73.16M	USD	3 Qtrs
Purchased transportation	`PurchasedTransportation`	$25.37M	USD	1 Quarter
Purchased transportation	`PurchasedTransportation`	$68.22M	USD	3 Qtrs
Miscellaneous expenses, net	`OtherCostAndExpenseOperating`	$2.87M	USD	1 Quarter
Miscellaneous expenses, net	`OtherCostAndExpenseOperating`	$16.26M	USD	3 Qtrs
Miscellaneous expenses, net	`OtherCostAndExpenseOperating`	$21.35M	USD	3 Qtrs
Miscellaneous expenses, net	`OtherCostAndExpenseOperating`	$11.45M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$830.93M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$2.47B	USD	3 Qtrs
Total operating expenses	`CostsAndExpenses`	$829.85M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$2.42B	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$217.53M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$228.38M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$630.44M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$598.21M	USD	3 Qtrs
Interest expense	`InterestAndDebtExpense`	$29.00K	USD	1 Quarter
Interest expense	`InterestAndDebtExpense`	$3.00K	USD	1 Quarter
Interest expense	`InterestAndDebtExpense`	$51.00K	USD	3 Qtrs
Interest expense	`InterestAndDebtExpense`	$285.00K	USD	3 Qtrs
Interest income	`InvestmentIncomeNet`	$1.90M	USD	3 Qtrs
Interest income	`InvestmentIncomeNet`	$778.00K	USD	1 Quarter
Interest income	`InvestmentIncomeNet`	$1.71M	USD	1 Quarter
Interest income	`InvestmentIncomeNet`	$4.97M	USD	3 Qtrs
Other expense (income), net	`OtherNonoperatingIncomeExpense`	$70.00K	USD	1 Quarter
Other expense (income), net	`OtherNonoperatingIncomeExpense`	$-768.00K	USD	3 Qtrs
Other expense (income), net	`OtherNonoperatingIncomeExpense`	$-1.90M	USD	3 Qtrs
Other expense (income), net	`OtherNonoperatingIncomeExpense`	$-844.00K	USD	1 Quarter
Total non-operating (income) expense	`NonoperatingIncomeExpense`	$867.00K	USD	1 Quarter
Total non-operating (income) expense	`NonoperatingIncomeExpense`	$-44.00K	USD	3 Qtrs
Total non-operating (income) expense	`NonoperatingIncomeExpense`	$3.91M	USD	3 Qtrs
Total non-operating (income) expense	`NonoperatingIncomeExpense`	$819.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$634.36M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$229.20M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$218.39M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$598.16M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$55.76M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$162.86M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$54.30M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$151.95M	USD	3 Qtrs
Net income	`ProfitLoss`	$173.44M	USD	1 Quarter
Net income	`ProfitLoss`	$446.21M	USD	3 Qtrs
Net income	`ProfitLoss`	$471.49M	USD	3 Qtrs
Net income	`ProfitLoss`	$164.10M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$2.12	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$2.05	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$5.44	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$5.86	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$5.85	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$2.12	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$5.43	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$2.05	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	82.07M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	81.89M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	79.88M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	80.47M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	81.98M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	79.99M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	80.59M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	82.17M	shares	3 Qtrs
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.17	USD	1 Quarter
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.13	USD	1 Quarter
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.39	USD	3 Qtrs
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.51	USD	3 Qtrs

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$173.44M	USD	1 Quarter
Net income	`ProfitLoss`	$446.21M	USD	3 Qtrs
Net income	`ProfitLoss`	$471.49M	USD	3 Qtrs
Net income	`ProfitLoss`	$164.10M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$189.14M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$63.49M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$167.80M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$58.09M	USD	1 Quarter
Loss (gain) on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-5.62M	USD	3 Qtrs
Loss (gain) on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$72.00K	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$3.56M	USD	3 Qtrs
Share-based compensation	`ShareBasedCompensation`	$5.36M	USD	3 Qtrs
Other operating activities, net	`IncreaseDecreaseInOperatingCapital`	$-75.90M	USD	3 Qtrs
Other operating activities, net	`IncreaseDecreaseInOperatingCapital`	$-57.92M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$675.42M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$747.51M	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquireProductiveAssets`	$370.31M	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquireProductiveAssets`	$469.87M	USD	3 Qtrs
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$2.60M	USD	3 Qtrs
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$3.33M	USD	3 Qtrs
Other investing, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-799.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-367.71M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-465.74M	USD	3 Qtrs
Principal payments under long-term debt agreements	`RepaymentsOfLongTermDebt`	$50.00M	USD	3 Qtrs
Payments for share repurchases	`PaymentsForRepurchaseOfCommonStock`	$205.35M	USD	3 Qtrs
Payments for share repurchases	`PaymentsForRepurchaseOfCommonStock`	$76.59M	USD	3 Qtrs
Dividends paid	`PaymentsOfDividends`	$32.01M	USD	3 Qtrs
Dividends paid	`PaymentsOfDividends`	$41.01M	USD	3 Qtrs
Other financing activities, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-1.07M	USD	3 Qtrs
Other financing activities, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-1.45M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-247.80M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-159.67M	USD	3 Qtrs
Increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$50.01M	USD	3 Qtrs
Increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$132.00M	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$322.29M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$127.46M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$190.28M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$177.47M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$322.29M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$127.46M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$190.28M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$177.47M	USD	Point-in-time

Stockholders Equity 6 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$2.62B	USD	Point-in-time
Balance	`StockholdersEquity`	$2.91B	USD	Point-in-time
Balance	`StockholdersEquity`	$2.68B	USD	Point-in-time
Balance	`StockholdersEquity`	$2.62B	USD	Point-in-time
Balance	`StockholdersEquity`	$2.91B	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.