Company: PAMT
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007273
Chunk: 167

Company: PAMT CORP
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1A
Chunk 167
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 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   -   -   (4,364)
 Trade accounts payable   (6,520)  (10,980)  2,198 
 Accrued expenses and other liabilities   (2,992)  (15,742)  20,491 
 Net cash provided by operating activities   59,041   114,577   168,815 
             
 INVESTING ACTIVITIES:             
 Purchases of property and equipment   (140,759)  (34,060)  (63,961)
 Purchase of a business, net of cash acquired   -   -   (65,797)
 Proceeds from disposition of equipment   36,910   22,622   17,406 
 Sales of marketable equity securities   3,662   143