Company: PAMT
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007273
Chunk: 479

Company: PAMT CORP
Filing Date: 2025-03-12
Form: 10-K
Item: Item 7A
Chunk 479
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 Net loss                (31,795)  (31,795)
 Restricted stock issued   47   1   (1)            
 Treasury stock repurchases   (285)        (5,260)     (5,260)
 Restricted stock net settlement          (376)        (376)
 Share-based compensation          723         723 
                         
 BALANCE— December 31, 2024   21,783  $224  $41,171  $(13,996) $250,109  $277,508 

See notes to consolidated financial statements.

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PAMT CORP AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

YEARS ENDED DECEMBER 31, 2024, 2023 AND 2022

(in thousands)

      2024    2023    2022  
 OPERATING ACTIVITIES:             
 Net (loss) income  $(31,795) $18,416  $90,672 
 Adjustments to reconcile net (loss) income to net cash provided by operating activities:             
 Depreciation   99,264   64,605   62,806 
 Impairment Loss   6,406   -   - 
 Bad debt expense   3,074   2,396   917 
 Stock compensation—net of excess tax benefits   723   553   715 
 Provision for deferred income tax (benefit) expense   (11,785)  2,886   14,541 
 Recognized (gain) on marketable equity securities   (3,079)  (1,618)  (1,129)
 Loss (gain) on sale or disposal of equipment   766   (1,043)  (3,250)
 Changes in operating assets and liabilities:             
 Accounts receivable   (86)  50,798   (2,152)
 Prepaid expenses, deposits, inventories, and other assets   3,463   2,538   (7,257)
 Income taxes refundable   1,602   1,768   (5,373)
 Income taxes payable