v3.26.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 186,114 $ 220,420
Cash and cash equivalents – restricted [1] 74,715 82,381
Trade receivables, net of allowance for doubtful accounts of $29,354 and $30,647, respectively 434,776 305,324
Contract balance – revenue in transit 12,014 9,642
Prepaid expenses 106,917 113,985
Assets held for sale 51,801 72,985
Income tax receivable 48,899 45,895
Other current assets 27,680 36,894
Total current assets 942,916 887,526
Gross property and equipment 7,581,734 7,380,056
Less: accumulated depreciation and amortization (2,809,508) (2,662,331)
Property and equipment, net 4,772,226 4,717,725
Operating lease right-of-use-assets 291,343 314,571
Goodwill 3,934,741 3,934,741
Intangible assets, net 1,897,759 1,935,699
Other long-term assets 165,360 165,174
Total assets 12,004,345 11,955,436
Current liabilities:    
Accounts payable 281,673 200,835
Accrued payroll and purchased transportation 209,555 194,910
Accrued liabilities 60,117 66,638
Claims accruals – current portion 243,912 246,882
Finance lease liabilities and long-term debt – current portion 166,487 194,406
Operating lease liabilities – current portion 113,587 127,538
Total current liabilities 1,075,331 1,031,209
Revolving line of credit 0 626,000
Long-term debt – less current portion 231,425 1,027,793
Convertible senior notes [2],[3] 1,465,833 0
Finance lease liabilities – less current portion 511,867 502,042
Operating lease liabilities – less current portion 195,965 207,788
Claims accruals – less current portion 396,082 359,546
Deferred tax liabilities 898,110 904,075
Other long-term liabilities 238,922 205,117
Total liabilities 5,013,535 4,863,570
Commitments and contingencies (Notes 7, 8, and 9)
Stockholders’ equity:    
Preferred stock, par value $0.01 per share; 10,000 shares authorized; none issued $ 0 $ 0
Preferred stock, par value (in dollars per share) $ 0.01 $ 0.01
Preferred stock, shares authorized (in shares) 10,000 10,000
Preferred stock, shares issued (in shares) 0 0
Common stock, par value $0.01 per share; 500,000 shares authorized; 162,736 and 162,339 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively. $ 1,627 $ 1,623
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 500,000 500,000
Common stock, shares issued (in shares) 162,736 162,339
Common stock, shares outstanding (in shares) 162,736 162,339
Additional paid-in capital $ 4,414,691 $ 4,480,725
Accumulated other comprehensive loss (143) (716)
Retained earnings 2,565,098 2,600,822
Total Knight-Swift stockholders' equity 6,981,273 7,082,454
Noncontrolling interest 9,537 9,412
Total stockholders’ equity 6,990,810 7,091,866
Total liabilities and stockholders’ equity $ 12,004,345 $ 11,955,436
Common Class A [Member]    
Stockholders’ equity:    
Common stock, shares outstanding (in shares) 162,736 162,339
[1] Reflects cash and cash equivalents that are primarily restricted for claims payments.
[2] As of June 30, 2026, the carrying amount of the 2031 Notes was net of $1.3 million in unamortized debt issuance costs and $32.9 million of unamortized debt discount.
[3] Refer to Note 12 for information regarding the fair value of debt.