2023 Q1 Form 10-K Financial Statement

#000095017023003783 Filed on February 22, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $1.442B $1.492B $6.260B
YoY Change -3.68% 5.76% 19.1%
Cost Of Revenue $192.4M $207.6M $853.0M
YoY Change 0.54% 30.28% 50.27%
Gross Profit $1.250B $1.284B $5.407B
YoY Change -4.3% 2.64% 15.32%
Gross Profit Margin 86.66% 86.08% 86.37%
Selling, General & Admin $718.7M $713.5M $2.976B
YoY Change -3.1% 0.06% 10.55%
% of Gross Profit 57.5% 55.57% 55.03%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $75.95M $72.06M $275.6M
YoY Change 12.77% 7.88% 6.04%
% of Gross Profit 6.08% 5.61% 5.1%
Operating Expenses $866.7M $853.8M $3.566B
YoY Change -3.73% -2.81% 8.17%
Operating Profit $383.0M $430.2M $1.841B
YoY Change -5.56% 15.5% 32.27%
Interest Expense $2.611M $2.671M $3.321M
YoY Change 4562.5% -1135.27% -452.92%
% of Operating Profit 0.68% 0.62% 0.18%
Other Income/Expense, Net -$1.511M -$898.0K $717.0K
YoY Change 149.75% 96.5% -132.04%
Pretax Income $384.1M $432.0M $1.841B
YoY Change -5.16% 16.2% 32.62%
Income Tax $99.11M $108.1M $464.2M
% Of Pretax Income 25.8% 25.02% 25.21%
Net Earnings $285.0M $323.9M $1.377B
YoY Change -4.91% 16.18% 33.14%
Net Earnings / Revenue 19.76% 21.72% 22.0%
Basic Earnings Per Share $2.59 $12.26
Diluted Earnings Per Share $2.58 $2.92 $12.18
COMMON SHARES
Basic Shares Outstanding 110.0M 110.5M 112.3M
Diluted Shares Outstanding 110.7M 113.1M

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $232.4M $235.7M $235.7M
YoY Change -57.06% -67.13% -67.13%
Cash & Equivalents $207.6M $186.3M $186.3M
Short-Term Investments $24.81M $49.36M $49.36M
Other Short-Term Assets $84.64M $92.94M $92.94M
YoY Change 45.27% 37.31% 37.31%
Inventory
Prepaid Expenses
Receivables $564.5M $578.6M $578.6M
Other Receivables $15.39M $13.74M $26.48M
Total Short-Term Assets $897.0M $933.7M $933.7M
YoY Change -29.98% -32.52% -32.52%
LONG-TERM ASSETS
Property, Plant & Equipment $3.841B $3.687B $3.782B
YoY Change 19.1% 14.66% 14.06%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $218.7M $217.8M $122.6M
YoY Change 1.06% -1.92% 0.68%
Total Long-Term Assets $4.060B $3.905B $3.905B
YoY Change 17.97% 13.59% 13.59%
TOTAL ASSETS
Total Short-Term Assets $897.0M $933.7M $933.7M
Total Long-Term Assets $4.060B $3.905B $3.905B
Total Assets $4.957B $4.839B $4.839B
YoY Change 4.96% 0.35% 0.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $119.8M $106.3M $106.3M
YoY Change 1.63% 28.79% 28.79%
Accrued Expenses $64.63M $51.93M $403.5M
YoY Change -82.88% -16.22% 5.71%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $20.00M $20.00M $20.00M
YoY Change
Total Short-Term Liabilities $569.5M $529.8M $529.8M
YoY Change -1.57% 14.12% 14.12%
LONG-TERM LIABILITIES
Long-Term Debt $79.97M $79.96M $79.96M
YoY Change -19.99% -19.99% -19.99%
Other Long-Term Liabilities $250.6M $265.4M $265.4M
YoY Change -14.21% -19.28% -19.28%
Total Long-Term Liabilities $641.1M $655.9M $345.4M
YoY Change 63.53% -3.19% -19.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $569.5M $529.8M $529.8M
Total Long-Term Liabilities $641.1M $655.9M $345.4M
Total Liabilities $1.211B $1.186B $1.186B
YoY Change -0.72% 3.85% 3.85%
SHAREHOLDERS EQUITY
Retained Earnings $3.495B $3.397B
YoY Change -2.76%
Common Stock $240.0M $244.6M
YoY Change 40.21%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.746B $3.653B $3.653B
YoY Change
Total Liabilities & Shareholders Equity $4.957B $4.839B $4.839B
YoY Change 4.96% 0.35% 0.35%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $285.0M $323.9M $1.377B
YoY Change -4.91% 16.18% 33.14%
Depreciation, Depletion And Amortization $75.95M $72.06M $275.6M
YoY Change 12.77% 7.88% 6.04%
Cash From Operating Activities $415.4M $361.3M $1.692B
YoY Change 6.85% 6.28% 39.5%
INVESTING ACTIVITIES
Capital Expenditures $234.7M $270.4M $775.1M
YoY Change -350.48% -263.47% -240.92%
Acquisitions
YoY Change
Other Investing Activities $34.86M $111.7M $227.7M
YoY Change -336.49% -489.07% 45435.2%
Cash From Investing Activities -$199.9M -$158.6M -$547.5M
YoY Change 84.29% -18.27% 20.25%
FINANCING ACTIVITIES
Cash Dividend Paid $44.05M $134.5M
YoY Change 28.82% 45.6%
Common Stock Issuance & Retirement, Net $1.277B
YoY Change 138.08%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -194.2M -233.1M -1.420B
YoY Change -59.61% 909.99% 104.02%
NET CHANGE
Cash From Operating Activities 415.4M 361.3M 1.692B
Cash From Investing Activities -199.9M -158.6M -547.5M
Cash From Financing Activities -194.2M -233.1M -1.420B
Net Change In Cash 21.31M -30.41M -276.3M
YoY Change -110.63% -124.77% -551.88%
FREE CASH FLOW
Cash From Operating Activities $415.4M $361.3M $1.692B
Capital Expenditures $234.7M $270.4M $775.1M
Free Cash Flow $180.6M $90.98M $916.4M
YoY Change -62.56% -82.0% -48.01%

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CY2020 us-gaap Adjustments To Additional Paid In Capital Stock Split
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CY2020 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
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CY2020 us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
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CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2021 us-gaap Net Income Loss
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CY2021 odfl Accelerated Shares Repurchase Forward Contract
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CY2021 us-gaap Dividends Common Stock
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CY2021 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
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CY2021 us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
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CY2021Q4 us-gaap Stockholders Equity
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CY2022 us-gaap Net Income Loss
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CY2022 us-gaap Dividends Common Stock
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134478000
CY2022 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
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CY2022 us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
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CY2022Q4 us-gaap Stockholders Equity
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CY2022 us-gaap Profit Loss
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CY2021 us-gaap Profit Loss
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CY2020 us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2020 us-gaap Payments To Acquire Short Term Investments
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CY2020 us-gaap Profit Loss
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CY2022 odfl Depreciation And Amortization Including Debt Issuance Costs
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CY2021 odfl Depreciation And Amortization Including Debt Issuance Costs
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259899000
CY2020 odfl Depreciation And Amortization Including Debt Issuance Costs
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261267000
CY2022 odfl Non Cash Lease Expense
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16658000
CY2021 odfl Non Cash Lease Expense
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14890000
CY2020 odfl Non Cash Lease Expense
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11963000
CY2022 us-gaap Gain Loss On Sale Of Property Plant Equipment
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3425000
CY2021 us-gaap Gain Loss On Sale Of Property Plant Equipment
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563000
CY2020 us-gaap Gain Loss On Sale Of Property Plant Equipment
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CY2022 us-gaap Deferred Income Tax Expense Benefit
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62008000
CY2021 us-gaap Deferred Income Tax Expense Benefit
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30165000
CY2020 us-gaap Deferred Income Tax Expense Benefit
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CY2022 us-gaap Share Based Compensation
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15893000
CY2021 us-gaap Share Based Compensation
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15039000
CY2020 us-gaap Share Based Compensation
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11337000
CY2022 us-gaap Increase Decrease In Accounts And Other Receivables
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13009000
CY2021 us-gaap Increase Decrease In Accounts And Other Receivables
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125562000
CY2020 us-gaap Increase Decrease In Accounts And Other Receivables
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49045000
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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24714000
CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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38387000
CY2020 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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1722000
CY2022 us-gaap Increase Decrease In Accounts Payable
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23756000
CY2021 us-gaap Increase Decrease In Accounts Payable
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14008000
CY2020 us-gaap Increase Decrease In Accounts Payable
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-1743000
CY2022 odfl Increase Decrease Compensation Benefits And Other Accrued Liabilities
IncreaseDecreaseCompensationBenefitsAndOtherAccruedLiabilities
-11202000
CY2021 odfl Increase Decrease Compensation Benefits And Other Accrued Liabilities
IncreaseDecreaseCompensationBenefitsAndOtherAccruedLiabilities
32437000
CY2020 odfl Increase Decrease Compensation Benefits And Other Accrued Liabilities
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72928000
CY2022 us-gaap Increase Decrease In Insurance Liabilities
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5464000
CY2021 us-gaap Increase Decrease In Insurance Liabilities
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10963000
CY2020 us-gaap Increase Decrease In Insurance Liabilities
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-1459000
CY2022 us-gaap Increase Decrease In Accrued Income Taxes Payable
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6480000
CY2021 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-27929000
CY2020 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
8750000
CY2022 us-gaap Increase Decrease In Other Accrued Liabilities
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-39552000
CY2021 us-gaap Increase Decrease In Other Accrued Liabilities
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-6729000
CY2020 us-gaap Increase Decrease In Other Accrued Liabilities
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-11659000
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
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1691582000
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1212606000
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
933024000
CY2022 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
775148000
CY2021 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
550077000
CY2020 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
225081000
CY2022 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
22096000
CY2021 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
19548000
CY2021 us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
435130000
CY2020 us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
29988000
CY2021 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
500000
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
228682000
CY2020 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
100000
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-547472000
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-455288000
CY2020 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-551663000
CY2020 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
99923000
CY2020 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
45000000
CY2022 us-gaap Payments Of Dividends
PaymentsOfDividends
134484000
CY2021 us-gaap Payments Of Dividends
PaymentsOfDividends
92366000
CY2020 us-gaap Payments Of Dividends
PaymentsOfDividends
71023000
CY2022 us-gaap Payments For Repurchase Of Common Stock
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1277219000
CY2021 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
536465000
CY2020 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
364057000
CY2021 odfl Payment For Accelerated Shares Repurchase Forward Contract
PaymentForAcceleratedSharesRepurchaseForwardContract
62500000
CY2022 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-8659000
CY2021 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-4853000
CY2020 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-3345000
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1420362000
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-696184000
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-383502000
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-276252000
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
61134000
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-2141000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
462564000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
401430000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
403571000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
186312000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
462564000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
401430000
CY2022 us-gaap Income Taxes Paid
IncomeTaxesPaid
396510000
CY2021 us-gaap Income Taxes Paid
IncomeTaxesPaid
352826000
CY2020 us-gaap Income Taxes Paid
IncomeTaxesPaid
266506000
CY2022 us-gaap Interest Paid Net
InterestPaidNet
3953000
CY2021 us-gaap Interest Paid Net
InterestPaidNet
4232000
CY2020 us-gaap Interest Paid Net
InterestPaidNet
5686000
CY2022 us-gaap Interest Paid Capitalized
InterestPaidCapitalized
3260000
CY2021 us-gaap Interest Paid Capitalized
InterestPaidCapitalized
2655000
CY2020 us-gaap Interest Paid Capitalized
InterestPaidCapitalized
2473000
CY2021 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
16034000
CY2022 us-gaap Nature Of Operations
NatureOfOperations
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Business</span></p><p style="text-indent:4.44%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">We are one of the largest North American less-than-truckload (“LTL”) motor carriers. We provide regional, inter-regional and national LTL services through a single integrated, union-free organization. Our service offerings, which include expedited transportation, are provided through an expansive network of service centers located throughout the continental United States. Through strategic alliances, we also provide LTL services throughout North America. In addition to our core LTL services, we offer a range of value-added services including container drayage, truckload brokerage and supply chain consulting.</span></p><p style="text-indent:4.44%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">We have </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">one</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> operating segment and </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">no</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> single customer exceeds 6% of our revenue. </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The composition of our revenue is summarized below:</span></span></p><div style="font-size:12.0pt;font-family:&quot;Times New Roman&quot;, serif;"><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:12.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p> <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:87.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:51.227%;"/> <td style="width:1.593%;"/> <td style="width:1.0%;"/> <td style="width:12.561%;"/> <td style="width:1.0%;"/> <td style="width:1.593%;"/> <td style="width:1.0%;"/> <td style="width:12.561%;"/> <td style="width:1.0%;"/> <td style="width:1.593%;"/> <td style="width:1.0%;"/> <td style="width:12.873%;"/> <td style="width:1.0%;"/> </tr> <tr style="height:8.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:left;"><p style="text-indent:0.0pt;font-size:8.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:center;"><span style="white-space:pre-wrap;font-size:8.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:8.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:8.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p></td> <td colspan="10" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;"><p style="text-indent:0.0pt;font-size:8.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:center;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:8.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Year Ended December 31,</span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"><p style="text-indent:0.0pt;font-size:8.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:center;"><span style="white-space:pre-wrap;font-size:8.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p></td> </tr> <tr style="height:8.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:8.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;text-decoration:underline;font-size:8.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">(In thousands)</span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:8.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:8.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p></td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;"><p style="text-indent:0.0pt;font-size:8.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:center;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:8.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">2022</span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"><p style="text-indent:0.0pt;font-size:8.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:center;"><span style="white-space:pre-wrap;font-size:8.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:8.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:8.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p></td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;"><p style="text-indent:0.0pt;font-size:8.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:center;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:8.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">2021</span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"><p style="text-indent:0.0pt;font-size:8.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:center;"><span style="white-space:pre-wrap;font-size:8.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:8.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:8.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p></td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;"><p style="text-indent:0.0pt;font-size:8.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:center;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:8.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">2020</span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"><p style="text-indent:0.0pt;font-size:8.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:center;"><span style="white-space:pre-wrap;font-size:8.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p></td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">LTL services</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">$</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:right;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">6,177,055</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">$</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:right;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">5,177,497</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">$</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:right;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">3,961,054</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p></td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Other services</span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:right;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">83,022</span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:right;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">78,831</span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:right;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">54,075</span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p></td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Total revenue</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">$</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:right;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">6,260,077</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">$</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:right;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">5,256,328</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">$</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:right;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">4,015,129</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p></td> </tr> </table></div>
CY2022 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2022 odfl Number Of Customers With More Than Six Percent Of Revenue
NumberOfCustomersWithMoreThanSixPercentOfRevenue
0
CY2021Q4 us-gaap Self Insurance Reserve Noncurrent
SelfInsuranceReserveNoncurrent
88700000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Self Insurance
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsSelfInsurance
31736000
CY2022 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
6260077000
CY2021 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
5256328000
CY2020 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
4015129000
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Credit Risk</span></p><p style="text-indent:4.44%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Financial instruments that potentially subject us to concentrations of credit risk consist principally of customer receivables. We perform initial and ongoing credit evaluations of our customers to minimize credit risk. We generally do not require collateral but may require prepayment of our services under certain circumstances. Credit risk is generally diversified due to the large number of entities comprising our customer base and their dispersion across many different industries and geographic regions.</span></p>
CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
10146000
CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
3783000
CY2020 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-5639000
CY2022 us-gaap Deferred Federal State And Local Tax Expense Benefit
DeferredFederalStateAndLocalTaxExpenseBenefit
62008000
CY2022 us-gaap Depreciation
Depreciation
275600000
CY2021 us-gaap Depreciation
Depreciation
259500000
CY2020 us-gaap Depreciation
Depreciation
261300000
CY2022Q4 us-gaap Self Insurance Reserve
SelfInsuranceReserve
156000000.0
CY2021Q4 us-gaap Self Insurance Reserve
SelfInsuranceReserve
150600000
CY2022Q4 us-gaap Self Insurance Reserve Noncurrent
SelfInsuranceReserveNoncurrent
92700000
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
15900000
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
15000000.0
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
14300000
CY2022 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
3300000
CY2021 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
2900000
CY2020 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
3800000
CY2022 us-gaap Advertising Expense
AdvertisingExpense
29000000.0
CY2021 us-gaap Advertising Expense
AdvertisingExpense
28100000
CY2020 us-gaap Advertising Expense
AdvertisingExpense
19000000.0
CY2021 us-gaap Deferred Federal State And Local Tax Expense Benefit
DeferredFederalStateAndLocalTaxExpenseBenefit
30165000
CY2020 us-gaap Deferred Federal State And Local Tax Expense Benefit
DeferredFederalStateAndLocalTaxExpenseBenefit
-41011000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
464190000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
354048000
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
228682000
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
386683000
CY2022Q4 us-gaap Senior Notes
SeniorNotes
99963000
CY2021Q4 us-gaap Senior Notes
SeniorNotes
99947000
CY2022Q4 us-gaap Line Of Credit
LineOfCredit
0
CY2021Q4 us-gaap Line Of Credit
LineOfCredit
0
CY2022Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
99963000
CY2021Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
99947000
CY2022Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
20000000
CY2021Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
0
CY2022Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
79963000
CY2021Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
99947000
CY2022Q4 us-gaap Long Term Debt Percentage Bearing Fixed Interest Rate
LongTermDebtPercentageBearingFixedInterestRate
0.0479
CY2022 us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2021-01-03
CY2022 odfl Letter Of Credit Fee In Percentage
LetterOfCreditFeeInPercentage
0.01000
CY2022 us-gaap Line Of Credit Facility Unused Capacity Commitment Fee Percentage
LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage
0.00100
CY2022Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
38700000
CY2021Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
39200000
CY2022 odfl Lessee Operating Lease Option To Renew Earliest Year
LesseeOperatingLeaseOptionToRenewEarliestYear
2023
CY2022 odfl Lessee Operating Lease Option To Renew Latest Year
LesseeOperatingLeaseOptionToRenewLatestYear
2033
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
17300000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
14000000.0
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
80800000
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
88800000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
95200000
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
100300000
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
291569000
CY2020 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
189287000
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
75906000
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
60036000
CY2020 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
39098000
CY2022 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
1601000
CY2021 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
2443000
CY2020 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
297000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
464190000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
354048000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
21243000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
15970000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
13264000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
12888000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
12374000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
44561000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
120300000
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
22140000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
98160000
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y1M6D
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.038
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.030
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
18600000
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
17600000
CY2022 us-gaap Operating Lease Expense
OperatingLeaseExpense
20000000.0
CY2021 us-gaap Operating Lease Expense
OperatingLeaseExpense
19000000.0
CY2020 us-gaap Operating Lease Expense
OperatingLeaseExpense
16000000.0
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
11600000
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
12200000
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
318571000
CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
253084000
CY2020 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
216469000
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
83611000
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
70799000
CY2020 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
53224000
CY2022 us-gaap Current Federal State And Local Tax Expense Benefit
CurrentFederalStateAndLocalTaxExpenseBenefit
402182000
CY2021 us-gaap Current Federal State And Local Tax Expense Benefit
CurrentFederalStateAndLocalTaxExpenseBenefit
323883000
CY2020 us-gaap Current Federal State And Local Tax Expense Benefit
CurrentFederalStateAndLocalTaxExpenseBenefit
269693000
CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
51862000
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
26382000
CY2020 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-35372000
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Self Insurance
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsSelfInsurance
30773000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Compensated Absences
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsCompensatedAbsences
20330000
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Compensated Absences
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsCompensatedAbsences
21518000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
39973000
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
43150000
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
11767000
CY2021Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
21349000
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
103806000
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
116790000
CY2022Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
407942000
CY2021Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
359738000
CY2022Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
5113000
CY2021Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
4293000
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
413055000
CY2021Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
364031000
CY2022Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
309249000
CY2021Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
247241000
CY2022 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
135200000
CY2021 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
102000000.0
CY2020 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
65400000
CY2022Q4 us-gaap Deferred Compensation Liability Current And Noncurrent
DeferredCompensationLiabilityCurrentAndNoncurrent
88300000
CY2021Q4 us-gaap Deferred Compensation Liability Current And Noncurrent
DeferredCompensationLiabilityCurrentAndNoncurrent
95200000
CY2022Q4 us-gaap Deferred Compensation Liability Classified Noncurrent
DeferredCompensationLiabilityClassifiedNoncurrent
83200000
CY2021Q4 us-gaap Deferred Compensation Liability Classified Noncurrent
DeferredCompensationLiabilityClassifiedNoncurrent
90400000
CY2021Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
254433000
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
112340791
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
115651411
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
117737180
CY2022 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
737029
CY2021 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
758578
CY2020 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
756023
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
113077820
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
116409989
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
118493203
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
613996
CY2022 odfl Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Settled
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsSettled
1476
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
612520
CY2022Q4 odfl Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Settled Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsSettledWeightedAverageGrantDateFairValue
123.46
CY2022Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
49355000
CY2022Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
100000000.0
CY2021Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
99900000
CY2022Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
92600000
CY2021Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
104500000
CY2022 dei Auditor Name
AuditorName
Ernst & Young LLP
CY2022 dei Auditor Location
AuditorLocation
Raleigh, North Carolina
CY2022 dei Auditor Firm
AuditorFirmId
42
CY2019Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
3497000
CY2020 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
3248000
CY2020 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
2650000
CY2020Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
4095000
CY2020Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
4095000
CY2021 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
3773000
CY2021 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
1829000
CY2021Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
6039000
CY2021Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
6039000
CY2022 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
2128000
CY2022 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
1490000
CY2022Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
6677000

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