10-Q Filing

OLD DOMINION FREIGHT LINE, INC. CIK: 878927 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001564590-21-023371`
Period End Date	20210331
Filing Date	20210504
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	odfl-10q_20210331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 73 Income Statement 48 Cash Flow Statement 40 Stockholders Equity 6

Balance Sheet 73 line items

Line Item	Tag	Value	Unit	Period
Customer receivables, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$8.98M	USD	Point-in-time
Customer receivables, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$9.50M	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`	$351.90M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$401.43M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	280.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	280.00M	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$310.19M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	117.06M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	115.96M	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$330.27M	USD	Point-in-time
Customer receivables, less allowances of $9,498 and $8,979, respectively	`AccountsReceivableNetCurrent`	$496.12M	USD	Point-in-time
Customer receivables, less allowances of $9,498 and $8,979, respectively	`AccountsReceivableNetCurrent`	$444.65M	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$9.57M	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$9.55M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$57.41M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$55.49M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.22B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.24B	USD	Point-in-time
Revenue equipment	`MachineryAndEquipmentGross`	$1.89B	USD	Point-in-time
Revenue equipment	`MachineryAndEquipmentGross`	$1.89B	USD	Point-in-time
Land and structures	`BuildingsLandAndImprovementsGross`	$2.25B	USD	Point-in-time
Land and structures	`BuildingsLandAndImprovementsGross`	$2.22B	USD	Point-in-time
Other fixed assets	`PropertyPlantAndEquipmentOther`	$475.26M	USD	Point-in-time
Other fixed assets	`PropertyPlantAndEquipmentOther`	$481.36M	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$12.97M	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$12.23M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentGross`	$4.59B	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentGross`	$4.64B	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.68B	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.74B	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$2.91B	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$2.91B	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$220.93M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$212.04M	USD	Point-in-time
Total assets	`Assets`	$4.35B	USD	Point-in-time
Total assets	`Assets`	$4.37B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$88.45M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$68.51M	USD	Point-in-time
Compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$209.14M	USD	Point-in-time
Compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$191.30M	USD	Point-in-time
Claims and insurance accruals	`SelfInsuranceReserveCurrent`	$54.30M	USD	Point-in-time
Claims and insurance accruals	`SelfInsuranceReserveCurrent`	$53.09M	USD	Point-in-time
Other accrued liabilities	`AccruedLiabilitiesCurrent`	$51.51M	USD	Point-in-time
Other accrued liabilities	`AccruedLiabilitiesCurrent`	$87.02M	USD	Point-in-time
Income taxes payable	`IncomeTaxesPayable`	$8.71M	USD	Point-in-time
Income taxes payable	`IncomeTaxesPayable`	$74.94M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$513.86M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$373.13M	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$99.94M	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$99.93M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$325.94M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$349.85M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$220.21M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$220.21M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$669.99M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$646.08M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.16B	USD	Point-in-time
Total liabilities	`Liabilities`	$1.04B	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, 280,000,000 shares authorized, 115,964,663 and 117,057,696 shares outstanding at March 31, 2021 and December 31, 2020, respectively	`CommonStockValueOutstanding`	$11.71M	USD	Point-in-time
Common stock - $0.10 par value, 280,000,000 shares authorized, 115,964,663 and 117,057,696 shares outstanding at March 31, 2021 and December 31, 2020, respectively	`CommonStockValueOutstanding`	$11.60M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$226.45M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$156.13M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.02B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.09B	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$3.02B	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$3.33B	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$3.19B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$4.35B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$4.37B	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Revenue from operations	`RevenueFromContractWithCustomerIncludingAssessedTax`	$1.13B	USD	1 Quarter
Revenue from operations	`RevenueFromContractWithCustomerIncludingAssessedTax`	$987.36M	USD	1 Quarter
Salaries, wages and benefits	`LaborAndRelatedExpense`	$545.66M	USD	1 Quarter
Salaries, wages and benefits	`LaborAndRelatedExpense`	$524.48M	USD	1 Quarter
Operating supplies and expenses	`OperatingCostsAndExpenses`	$124.16M	USD	1 Quarter
Operating supplies and expenses	`OperatingCostsAndExpenses`	$107.69M	USD	1 Quarter
General supplies and expenses	`OtherSellingAndGeneralExpense`	$33.61M	USD	1 Quarter
General supplies and expenses	`OtherSellingAndGeneralExpense`	$31.17M	USD	1 Quarter
Operating taxes and licenses	`DirectTaxesAndLicensesCosts`	$29.31M	USD	1 Quarter
Operating taxes and licenses	`DirectTaxesAndLicensesCosts`	$31.27M	USD	1 Quarter
Insurance and claims	`OperatingInsuranceAndClaimsCostsProduction`	$9.85M	USD	1 Quarter
Insurance and claims	`OperatingInsuranceAndClaimsCostsProduction`	$12.92M	USD	1 Quarter
Communications and utilities	`DirectCommunicationsAndUtilitiesCosts`	$8.19M	USD	1 Quarter
Communications and utilities	`DirectCommunicationsAndUtilitiesCosts`	$8.20M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$63.99M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$65.44M	USD	1 Quarter
Purchased transportation	`PurchasedTransportation`	$34.71M	USD	1 Quarter
Purchased transportation	`PurchasedTransportation`	$20.80M	USD	1 Quarter
Miscellaneous expenses, net	`OtherCostAndExpenseOperating`	$4.79M	USD	1 Quarter
Miscellaneous expenses, net	`OtherCostAndExpenseOperating`	$4.82M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$856.86M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$804.19M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$269.66M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$183.17M	USD	1 Quarter
Interest expense	`InterestAndDebtExpense`	$100.00K	USD	1 Quarter
Interest expense	`InterestAndDebtExpense`	$507.00K	USD	1 Quarter
Interest income	`InvestmentIncomeNet`	$1.25M	USD	1 Quarter
Interest income	`InvestmentIncomeNet`	$286.00K	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-3.62M	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-128.00K	USD	1 Quarter
Total non-operating expense	`NonoperatingIncomeExpense`	$-2.47M	USD	1 Quarter
Total non-operating expense	`NonoperatingIncomeExpense`	$-349.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$269.31M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$180.70M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$47.52M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$69.95M	USD	1 Quarter
Net income	`ProfitLoss`	$133.18M	USD	1 Quarter
Net income	`ProfitLoss`	$199.36M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$1.71	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$1.12	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$1.11	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$1.70	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	119.05M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	116.50M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	119.81M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	117.26M	shares	1 Quarter
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.15	USD	1 Quarter
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.20	USD	1 Quarter

Cash Flow Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$133.18M	USD	1 Quarter
Net income	`ProfitLoss`	$199.36M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortizationIncludingDebtIssuanceCosts`	$63.99M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortizationIncludingDebtIssuanceCosts`	$65.44M	USD	1 Quarter
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-78.00K	USD	1 Quarter
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-603.00K	USD	1 Quarter
Other operating activities, net	`IncreaseDecreaseInOperatingCapital`	$-4.84M	USD	1 Quarter
Other operating activities, net	`IncreaseDecreaseInOperatingCapital`	$-6.12M	USD	1 Quarter
Changes in operating assets and liabilities, net	`ChangesInOperatingAssetsAndLiabilitiesNet`	$483.00K	USD	1 Quarter
Changes in operating assets and liabilities, net	`ChangesInOperatingAssetsAndLiabilitiesNet`	$40.23M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$204.02M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$310.31M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquireProductiveAssets`	$52.21M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquireProductiveAssets`	$50.95M	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$1.54M	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$7.66M	USD	1 Quarter
Purchase of short-term investments	`PaymentsToAcquireShortTermInvestments`	$89.97M	USD	1 Quarter
Proceeds from maturities of short-term investments	`ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments`	$110.19M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-23.07M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-50.67M	USD	1 Quarter
Payments for share repurchases	`PaymentsForRepurchaseOfCommonStock`	$240.22M	USD	1 Quarter
Payments for share repurchases	`PaymentsForRepurchaseOfCommonStock`	$206.30M	USD	Point-in-time
Payments for share repurchases	`PaymentsForRepurchaseOfCommonStock`	$178.29M	USD	1 Quarter
Forward contract for accelerated share repurchases	`PaymentForAcceleratedSharesRepurchaseForwardContract`	$68.75M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$18.31M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$23.23M	USD	1 Quarter
Other financing activities, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-4.57M	USD	1 Quarter
Other financing activities, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-3.35M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-336.77M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-199.95M	USD	1 Quarter
Decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-46.60M	USD	1 Quarter
Decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-49.53M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$356.97M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$401.43M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$351.90M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$403.57M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$356.97M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$401.43M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$351.90M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$403.57M	USD	Point-in-time

Stockholders Equity 6 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$3.02B	USD	Point-in-time
Balance	`StockholdersEquity`	$3.33B	USD	Point-in-time
Balance	`StockholdersEquity`	$3.19B	USD	Point-in-time
Balance	`StockholdersEquity`	$3.02B	USD	Point-in-time
Balance	`StockholdersEquity`	$3.33B	USD	Point-in-time
Balance	`StockholdersEquity`	$3.19B	USD	Point-in-time

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