Old Dominion Freight Line Inc 2025年季度报告

For the transition period from ________ to ________ . VIRGINIA(State or other jurisdiction ofincorporation or organization) Cash dividends declared ($0.26per share)Share-based compensation and share issuances, net of forfeituresTaxes paid in exchange for shares withheld (UNAUDITED) March 31,(In thousands)20252024Cash flows from operating activities:Net income$254,660$ Loss on disposal of property and equipment1,739Other, net7,384Changes in operating assets and liabilities, net(16,399) Net cash provided by operating activities Cash flows from investing activities:Purchase of property and equipment(88,149)Proceeds from sale of property and equipment5,232Net cash used in investing activities(82,917) Other financing activities, net(4,508)Net cash used in financing activities(265,080) Note 1. Significant Accounting PoliciesWe are one of the largest North American less-than-truckload (“LTL”) motor carriers. We provide regional, inter-regionaland national LTL services through a single integrated, union-free organization. Our service offerings, which include expedited offer a range of value-added services including container drayage, truckload brokerage and supply chain consulting.We haveoneoperating and reportable segment as described in Note 6. The composition of our revenue is summarized below:Three Months EndedMarch 31,(In thousands)20252024LTL services$1,360,839$1,446,733 The accompanying unaudited, interim condensed financial statements have been prepared in accordance with U.S. generallyaccepted accounting principles (“GAAP”) for interim financial information and, in management’s opinion, contain all adjustments (consisting of normal recurring items) necessary for a fair presentation, in all material respects, of the financial position and resultsof operations for the periods presented. Accordingly, they do not include all of the information and notes required by U.S. GAAPfor complete financial statements. The preparation of condensed financial statements in accordance with U.S. GAAP requires management to make estimatesand assumptions. Such estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingentassets and liabilities at the date of the condensed financial statements and the reported amounts of revenue and expenses during thereporting period. Actual results could differ from those estimates. Our operating results are subject to seasonal trends; therefore, the Recently Issued Accounting Pronouncements Not Yet Adopted In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”)2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires public entities, on an annual basis,to provide disclosure of specific categories in the rate reconciliation, as well as disclosure of income taxes paid disaggregated byjurisdiction. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. While thenew accounting rules will not have any impact on our financial condition, results of operations or cash flows, the adoption of the In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - ExpenseDisaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, and in January 2025, the FASBissued ASU 2025-01, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date. ASU 2024-03 requires public entities to disclose additional disclosure of the nature of expensesincluded on the statements of operations as well as disclosures about specific types of expenses included in the expense captionspresented on the statements of operations in the notes to the financial statements on an interim and annual basis. ASU 2024-03, as condition, results of operations or cash flows, the adoption of the new accounting rules will result in additional disclosures. Note 2. Earnings Per ShareBasic earnings per share is computed by dividing net income by the daily weighted average number of shares of our commonstock outstanding for the period, excluding unvested restricted stock. Unvested restricted stock is included in common shares Diluted earnings per share is computed using the treasury stock method. The denominator used in calculating diluted earningsper share includes the impact of unvested restricted stock and other dilutive, non-participating securities under our equity awardagreements. Contingently issuable shares under performance-based award agreements are included in, or excluded from, thedenominator depending on whether the performance target is deemed to have been achieved, or not to have been achieved, usingthe assumption that the end of the reporting period is treated as the end of the contingency period. Dilutive effect of share-based awards Long-term debt, net of unamortized debt issuance costs, con