Con-way Inc.

CIK:0000023675|SEC Filings

Statements of Consolidated Comprehensive Income Statement - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Net Income	$ 44,035	$ 53,667	$ 65,827	$ 66,560
Foreign currency translation adjustment	173	(439)	(2,891)	(317)
Amortization of net actuarial loss included in net periodic benefit expense or income, net of deferred tax of $1,285 and $794, respectively	2,080	1,182	4,149	2,425
Amortization of prior service credit included in net periodic benefit expense or income, net of deferred tax of $80 and $122, respectively	(129)	(190)	(257)	(379)
Other Comprehensive Income, Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax	1,951	992	3,892	2,046
Total Other Comprehensive Income (Loss)	2,124	553	1,001	1,729
Comprehensive Income	$ 46,159	$ 54,220	$ 66,828	$ 68,289

Statements of Consolidated Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash and Cash Equivalents, at Beginning of Period	$ 432,759	$ 484,502
Net income	65,827	66,560
Depreciation, Amortization and Accretion, Net	119,686	120,223
Non-cash compensation and employee benefits	13,474	12,182
Increase in deferred income taxes	5,160	18,708
Provision for uncollectible accounts	(33)	1,402
Loss (gain) from sale of property and equipment	(1,348)	(5,375)
Receivables	(20,350)	(119,659)
Prepaid expense	(2,380)	(2,946)
Accounts payable	34,714	34,658
Accrued variable compensation	(28,452)	(6,307)
Accrued liabilities, excluding accrued variable compensation and employee benefits	32,315	32,962
Self-insurance accruals	(7,764)	5,617
Accrued income taxes	2,636	3,164
Employee benefits	(26,476)	(39,132)
Other	(11,255)	(412)
Net Cash Provided by (Used in) Operating Activities	175,754	121,645
Capital expenditures	(116,489)	(123,366)
Software expenditures	(7,865)	(5,613)
Proceeds from sales of property and equipment	12,223	22,391
Net cash used in investing activities	(112,131)	(106,588)
Payment of capital leases	(13,032)	(6,141)
Net proceeds from short-term borrowings	326	801
Proceeds from exercise of stock options	559	13,573
Excess tax benefit from share-based compensation	2,913	2,413
Payments of common dividends	(17,264)	(11,413)
Repurchases of common stock	(34,804)	0
Net Cash Used in Financing Activities	(61,302)	(767)
Decrease in Cash and Cash Equivalents	2,321	14,290
Cash and Cash Equivalents, at End of Period	435,080	498,792
Cash paid (refunded) for income taxes, net	30,042	19,169
Cash paid for interest	25,984	26,232
Capital Expenditures Incurred but Not yet Paid	4,536	0
Repurchases of common stock included in current liabilities	1,550	0
Property, plant and equipment acquired through partial non-monetary exchanges	10,947	936
Capital Lease Obligations Incurred	$ 116	$ 7,233

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Cash and cash equivalents	$ 435,080	$ 432,759
Marketable securities	8,285	8,285
Trade accounts receivable, net	673,082	649,086
Other accounts receivable	65,966	70,305
Operating supplies, at lower of average cost or market	22,938	23,664
Prepaid expenses and other current assets	63,635	63,344
Deferred income taxes	13,567	13,957
Total Current Assets	1,282,553	1,261,400
Land	192,471	192,490
Buildings and leasehold improvements	860,558	856,037
Revenue equipment	1,931,121	1,902,358
Other equipment	360,935	362,341
Property, plant and equipment, gross	3,345,085	3,313,226
Accumulated depreciation	(1,697,517)	(1,659,015)
Net Property, Plant and Equipment	1,647,568	1,654,211
Deferred charges and other assets	30,208	31,826
Capitalized software, net	30,155	26,208
Employee benefits	18,675	18,110
Intangible assets, net	5,106	6,284
Goodwill	337,456	337,579
Total Noncurrent Assets	421,600	420,007
Total Assets	3,351,721	3,335,618
Accounts payable	394,364	349,995
Accrued liabilities	260,688	257,943
Self-insurance accruals	117,737	117,783
Short-term borrowings	2,045	1,736
Current maturities of capital leases	3,224	14,663
Total Current Liabilities	778,058	742,120
Long-term debt	719,381	719,303
Long-term obligations under capital leases	8,811	10,587
Self-insurance accruals	143,122	151,257
Employee benefits	216,963	239,368
Other liabilities and deferred credits	32,382	34,356
Deferred income taxes	250,110	242,789
Total Liabilities	$ 2,148,827	$ 2,139,780
Commitments and Contingencies (Note 9)
Common stock ($0.625 par value; authorized 100,000,000 shares; issued 66,303,416 and 65,782,041 shares, respectively)	$ 41,471	$ 41,101
Additional paid in capital, common stock	716,953	706,756
Retained earnings	1,191,797	1,151,791
Cost of repurchased stock (8,673,724 and 8,112,141 shares, respectively)	(393,919)	(349,401)
Accumulated other comprehensive loss	(353,408)	(354,409)
Total Stockholders' Equity	1,202,894	1,195,838
Total Liabilities and Shareholders' Equity	$ 3,351,721	$ 3,335,618