10-Q Filing

OLD DOMINION FREIGHT LINE, INC. CIK: 878927 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001564590-22-017820`
Period End Date	20220331
Filing Date	20220504
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	odfl-10q_20220331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 48 Cash Flow Statement 42 Stockholders Equity 20

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Customer receivables, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$9.86M	USD	Point-in-time
Customer receivables, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$12.12M	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`	$262.12M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	280.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$462.56M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	280.00M	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$279.18M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	113.76M	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$254.43M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	115.01M	shares	Point-in-time
Customer receivables, less allowances of $12,118 and $9,855, respectively	`AccountsReceivableNetCurrent`	$567.47M	USD	Point-in-time
Customer receivables, less allowances of $12,118 and $9,855, respectively	`AccountsReceivableNetCurrent`	$669.04M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$19.22M	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$12.35M	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$12.41M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$67.69M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$58.26M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.28B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.38B	USD	Point-in-time
Revenue equipment	`MachineryAndEquipmentGross`	$2.15B	USD	Point-in-time
Revenue equipment	`MachineryAndEquipmentGross`	$2.16B	USD	Point-in-time
Land and structures	`BuildingsLandAndImprovementsGross`	$2.46B	USD	Point-in-time
Land and structures	`BuildingsLandAndImprovementsGross`	$2.51B	USD	Point-in-time
Other fixed assets	`PropertyPlantAndEquipmentOther`	$512.34M	USD	Point-in-time
Other fixed assets	`PropertyPlantAndEquipmentOther`	$530.30M	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$13.49M	USD	Point-in-time
Leasehold improvements	`LeaseholdImprovementsGross`	$13.13M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentGross`	$5.14B	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentGross`	$5.21B	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.98B	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.92B	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$3.23B	USD	Point-in-time
Net property and equipment	`PropertyPlantAndEquipmentNet`	$3.22B	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$216.38M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$222.07M	USD	Point-in-time
Total assets	`Assets`	$4.82B	USD	Point-in-time
Total assets	`Assets`	$4.72B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$82.52M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$117.85M	USD	Point-in-time
Compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$257.90M	USD	Point-in-time
Compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$223.10M	USD	Point-in-time
Claims and insurance accruals	`SelfInsuranceReserveCurrent`	$63.23M	USD	Point-in-time
Claims and insurance accruals	`SelfInsuranceReserveCurrent`	$61.82M	USD	Point-in-time
Other accrued liabilities	`AccruedLiabilitiesCurrent`	$91.14M	USD	Point-in-time
Other accrued liabilities	`AccruedLiabilitiesCurrent`	$61.99M	USD	Point-in-time
Income taxes payable	`IncomeTaxesPayable`	$83.29M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$578.60M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$464.23M	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$99.95M	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$99.95M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$292.08M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$328.84M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$248.72M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$248.72M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$640.75M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$677.50M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.22B	USD	Point-in-time
Total liabilities	`Liabilities`	$1.14B	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, 113,761,155 and 115,011,172 shares outstanding at March 31, 2022 and December 31, 2021, respectively	`CommonStockValueOutstanding`	$11.38M	USD	Point-in-time
Common stock - $0.10 par value, 280,000,000 shares authorized, 113,761,155 and 115,011,172 shares outstanding at March 31, 2022 and December 31, 2021, respectively	`CommonStockValueOutstanding`	$11.50M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$174.44M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$133.17M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.36B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.49B	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$3.68B	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 shareholders equity	`StockholdersEquity`	$3.50B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$4.82B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$4.72B	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Revenue from operations	`RevenueFromContractWithCustomerIncludingAssessedTax`	$1.50B	USD	1 Quarter
Revenue from operations	`RevenueFromContractWithCustomerIncludingAssessedTax`	$1.13B	USD	1 Quarter
Salaries, wages and benefits	`LaborAndRelatedExpense`	$545.66M	USD	1 Quarter
Salaries, wages and benefits	`LaborAndRelatedExpense`	$680.19M	USD	1 Quarter
Operating supplies and expenses	`OperatingCostsAndExpenses`	$124.16M	USD	1 Quarter
Operating supplies and expenses	`OperatingCostsAndExpenses`	$191.36M	USD	1 Quarter
General supplies and expenses	`OtherSellingAndGeneralExpense`	$31.17M	USD	1 Quarter
General supplies and expenses	`OtherSellingAndGeneralExpense`	$35.51M	USD	1 Quarter
Operating taxes and licenses	`DirectTaxesAndLicensesCosts`	$31.27M	USD	1 Quarter
Operating taxes and licenses	`DirectTaxesAndLicensesCosts`	$35.08M	USD	1 Quarter
Insurance and claims	`OperatingInsuranceAndClaimsCostsProduction`	$16.11M	USD	1 Quarter
Insurance and claims	`OperatingInsuranceAndClaimsCostsProduction`	$12.92M	USD	1 Quarter
Communications and utilities	`DirectCommunicationsAndUtilitiesCosts`	$9.88M	USD	1 Quarter
Communications and utilities	`DirectCommunicationsAndUtilitiesCosts`	$8.20M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$67.34M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$63.99M	USD	1 Quarter
Purchased transportation	`PurchasedTransportation`	$34.71M	USD	1 Quarter
Purchased transportation	`PurchasedTransportation`	$52.50M	USD	1 Quarter
Miscellaneous expenses, net	`OtherCostAndExpenseOperating`	$3.70M	USD	1 Quarter
Miscellaneous expenses, net	`OtherCostAndExpenseOperating`	$4.79M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$856.86M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$1.09B	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$269.66M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$405.62M	USD	1 Quarter
Interest expense	`InterestAndDebtExpense`	$73.00K	USD	1 Quarter
Interest expense	`InterestAndDebtExpense`	$507.00K	USD	1 Quarter
Interest income	`InvestmentIncomeNet`	$129.00K	USD	1 Quarter
Interest income	`InvestmentIncomeNet`	$286.00K	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-128.00K	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-605.00K	USD	1 Quarter
Total non-operating expense	`NonoperatingIncomeExpense`	$-349.00K	USD	1 Quarter
Total non-operating expense	`NonoperatingIncomeExpense`	$-549.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$405.07M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$269.31M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$69.95M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$105.32M	USD	1 Quarter
Net income	`ProfitLoss`	$299.75M	USD	1 Quarter
Net income	`ProfitLoss`	$199.36M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$2.62	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$1.71	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$1.70	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$2.60	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	114.42M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	116.50M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	115.17M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	117.26M	shares	1 Quarter
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.20	USD	1 Quarter
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.30	USD	1 Quarter

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$299.75M	USD	1 Quarter
Net income	`ProfitLoss`	$199.36M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortizationIncludingDebtIssuanceCosts`	$63.99M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortizationIncludingDebtIssuanceCosts`	$67.34M	USD	1 Quarter
(Gain) Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$1.21M	USD	1 Quarter
(Gain) Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-603.00K	USD	1 Quarter
Other, net	`OtherOperatingActivitiesCashFlowStatement`	$6.12M	USD	1 Quarter
Other, net	`OtherOperatingActivitiesCashFlowStatement`	$8.12M	USD	1 Quarter
Changes in operating assets and liabilities, net	`ChangesInOperatingAssetsAndLiabilitiesNet`	$14.72M	USD	1 Quarter
Changes in operating assets and liabilities, net	`ChangesInOperatingAssetsAndLiabilitiesNet`	$40.23M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$310.31M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$388.73M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquireProductiveAssets`	$93.71M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquireProductiveAssets`	$50.95M	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$10.46M	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$7.66M	USD	1 Quarter
Purchase of short-term investments	`PaymentsToAcquireShortTermInvestments`	$75.16M	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
Proceeds from maturities of short-term investments	`ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments`	$49.97M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-23.07M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-108.45M	USD	1 Quarter
Payments for share repurchases	`PaymentsForRepurchaseOfCommonStock`	$240.22M	USD	1 Quarter
Payments for share repurchases	`PaymentsForRepurchaseOfCommonStock`	$338.35M	USD	1 Quarter
Forward contract for accelerated share repurchases	`PaymentForAcceleratedSharesRepurchaseForwardContract`	$68.75M	USD	1 Quarter
Forward contract for accelerated share repurchases	`PaymentForAcceleratedSharesRepurchaseForwardContract`	$100.00M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$34.20M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$23.23M	USD	1 Quarter
Other financing activities, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-8.16M	USD	1 Quarter
Other financing activities, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-4.57M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-480.71M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-336.77M	USD	1 Quarter
Decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-49.53M	USD	1 Quarter
Decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-200.44M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$462.56M	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`	$262.12M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$351.90M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$462.56M	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`	$262.12M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$351.90M	USD	Point-in-time

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$3.68B	USD	Point-in-time
Balance	`StockholdersEquity`	$3.33B	USD	Point-in-time
Balance	`StockholdersEquity`	$3.19B	USD	Point-in-time
Balance	`StockholdersEquity`	$3.50B	USD	Point-in-time
Net income	`NetIncomeLoss`	$199.36M	USD	1 Quarter
Net income	`NetIncomeLoss`	$299.75M	USD	1 Quarter
Share repurchases, including settlements under accelerated share repurchase programs	`StockRepurchasedAndRetiredDuringPeriodValue`	$338.35M	USD	1 Quarter
Share repurchases, including settlements under accelerated share repurchase programs	`StockRepurchasedAndRetiredDuringPeriodValue`	$240.22M	USD	1 Quarter
Forward contract for accelerated share repurchases	`AcceleratedSharesRepurchaseForwardContract`	$-68.75M	USD	1 Quarter
Forward contract for accelerated share repurchases	`AcceleratedSharesRepurchaseForwardContract`	$-100.00M	USD	1 Quarter
Cash dividends declared	`DividendsCommonStock`	$34.13M	USD	1 Quarter
Cash dividends declared	`DividendsCommonStock`	$23.19M	USD	1 Quarter
Share-based compensation and share issuances, net of forfeitures	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	$2.97M	USD	1 Quarter
Share-based compensation and share issuances, net of forfeitures	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	$4.29M	USD	1 Quarter
Taxes paid in exchange for shares withheld	`RestrictedStockValueSharesIssuedNetOfTaxWithholdings`	$-4.54M	USD	1 Quarter
Taxes paid in exchange for shares withheld	`RestrictedStockValueSharesIssuedNetOfTaxWithholdings`	$-8.06M	USD	1 Quarter
Balance	`StockholdersEquity`	$3.68B	USD	Point-in-time
Balance	`StockholdersEquity`	$3.33B	USD	Point-in-time
Balance	`StockholdersEquity`	$3.19B	USD	Point-in-time
Balance	`StockholdersEquity`	$3.50B	USD	Point-in-time

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