Annual report pursuant to Section 13 and 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 64,749 $ 25,657
Accounts receivable, less allowance of $2,101 in 2019 and $2,081 in 2018 150,197 156,359
Inventories 2,132 2,240
Prepaid expenses and other current assets 15,418 11,763
Income tax receivable 3,822 5,063
Total current assets 236,318 201,082
Property and equipment:    
Land 16,928 16,928
Buildings 65,919 65,919
Equipment 322,029 311,573
Leasehold improvements 16,852 14,165
Construction in progress 5,009 5,315
Total property and equipment 426,737 413,900
Less accumulated depreciation and amortization 213,706 204,005
Net property and equipment 213,031 209,895
Operating lease right-of-use assets 151,657 0
Goodwill and other acquired intangibles:    
Goodwill 221,105 199,092
Other acquired intangibles, net of accumulated amortization of $91,879 in 2019 and $80,666 in 2018 127,798 113,661
Total net goodwill and other acquired intangibles 348,903 312,753
Other assets 40,969 36,485
Total assets 990,878 760,215
Current liabilities:    
Accounts payable 29,986 34,630
Accrued payroll and related items 16,210 16,959
Insurance and claims accruals 16,366 12,648
Payables to owner-operators 14,246 7,424
Collections on behalf of customers 315 261
Other accrued expenses 2,685 2,492
Current portion of finance lease obligations 1,421 309
Current portion of operating lease obligations 50,615 0
Current portion of contingent consideration 5,320 0
Total current liabilities 137,164 74,723
Finance lease obligations, less current portion 4,909 54
Operating lease obligations, less current portion 101,525 0
Long-term debt, less current portion 67,340 47,281
Other long-term liabilities 58,816 47,739
Deferred income taxes 43,942 37,174
Commitments and contingencies (Note 7)
Shareholders' equity:    
Preferred stock $0.01 par value; Authorized shares - 5,000,000; no shares issued 0 0
Common stock, $0.01 par value: Authorized shares - 50,000,000, issued and outstanding shares - 27,850,233 in 2019 and 28,534,935 in 2018 279 285
Additional paid-in capital 226,869 210,296
Retained earnings 350,034 342,663
Total shareholders' equity 577,182 553,244
Total liabilities and shareholders' equity $ 990,878 $ 760,215