XML 51 R5.htm IDEA: XBRL DOCUMENT v2.4.1.9
Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 16,781us-gaap_NetIncomeLoss $ 12,014us-gaap_NetIncomeLoss
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 33,959us-gaap_DepreciationDepletionAndAmortization 29,056us-gaap_DepreciationDepletionAndAmortization
Loss (gain) on sale of property and equipment 672us-gaap_GainLossOnSaleOfPropertyPlantEquipment (84)us-gaap_GainLossOnSaleOfPropertyPlantEquipment
Stock-based compensation expense related to employee stock options and employee stock purchases 3,699us-gaap_ShareBasedCompensation 3,269us-gaap_ShareBasedCompensation
Deferred income tax (benefit) (1,629)us-gaap_DeferredIncomeTaxExpenseBenefit (165)us-gaap_DeferredIncomeTaxExpenseBenefit
Excess tax expense (benefit) from stock-based compensation 423us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities (1,021)us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
Change in accounts receivable, net (34,816)us-gaap_IncreaseDecreaseInReceivables (25,387)us-gaap_IncreaseDecreaseInReceivables
Change in inventories, net (84,894)us-gaap_IncreaseDecreaseInInventories (24,282)us-gaap_IncreaseDecreaseInInventories
Change in prepaid expenses and other, net 11,929us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets 2,024us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
Change in trade accounts payable (3,029)us-gaap_IncreaseDecreaseInAccountsPayableTrade 11,981us-gaap_IncreaseDecreaseInAccountsPayableTrade
(Payments) draws on floor plan notes payable – trade, net (5,057)rusha_IncreaseDecreaseInFloorPlanNotesPayableTradeNet 20,463rusha_IncreaseDecreaseInFloorPlanNotesPayableTradeNet
Change in customer deposits (6,331)us-gaap_IncreaseDecreaseInCustomerDeposits (27,432)us-gaap_IncreaseDecreaseInCustomerDeposits
Change in accrued expenses (28,280)us-gaap_IncreaseDecreaseInAccruedLiabilities (7,525)us-gaap_IncreaseDecreaseInAccruedLiabilities
Net cash (used in) operating activities (96,573)us-gaap_NetCashProvidedByUsedInOperatingActivities (7,089)us-gaap_NetCashProvidedByUsedInOperatingActivities
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisition of property and equipment (82,455)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (53,202)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Proceeds from the sale of property and equipment 2,121us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment 134us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment
Business acquisitions (27,849)us-gaap_PaymentsToAcquireBusinessesGross (143,050)us-gaap_PaymentsToAcquireBusinessesGross
Change in other assets (1,743)us-gaap_PaymentsForProceedsFromOtherInvestingActivities 1,892us-gaap_PaymentsForProceedsFromOtherInvestingActivities
Net cash used in investing activities (109,926)us-gaap_NetCashProvidedByUsedInInvestingActivities (194,226)us-gaap_NetCashProvidedByUsedInInvestingActivities
CASH FLOWS FROM FINANCING ACTIVITIES:    
Draws on floor plan notes payable – non-trade, net 71,680rusha_IncreaseDecreaseInFloorPlanPayableNet 45,177rusha_IncreaseDecreaseInFloorPlanPayableNet
Proceeds from long-term debt 39,222us-gaap_ProceedsFromIssuanceOfLongTermDebt 61,929us-gaap_ProceedsFromIssuanceOfLongTermDebt
Principal payments on long-term debt (45,085)us-gaap_RepaymentsOfLongTermDebt (24,813)us-gaap_RepaymentsOfLongTermDebt
Principal payments on capital lease obligations (3,211)us-gaap_RepaymentsOfLongTermCapitalLeaseObligations (3,086)us-gaap_RepaymentsOfLongTermCapitalLeaseObligations
Issuance of shares relating to employee stock options and employee stock purchases 1,592us-gaap_ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions 1,947us-gaap_ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
Excess tax benefits (expense) from stock-based compensation (423)us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities 1,021us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
Common stock repurchased (1,464)us-gaap_PaymentsForRepurchaseOfCommonStock (3,796)us-gaap_PaymentsForRepurchaseOfCommonStock
Net cash provided by (used in) financing activities 62,311us-gaap_NetCashProvidedByUsedInFinancingActivities 78,379us-gaap_NetCashProvidedByUsedInFinancingActivities
NET DECREASE IN CASH AND CASH EQUIVALENTS (144,188)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (122,936)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
CASH AND CASH EQUIVALENTS, beginning of period 191,463us-gaap_CashAndCashEquivalentsAtCarryingValue 217,305us-gaap_CashAndCashEquivalentsAtCarryingValue
CASH AND CASH EQUIVALENTS, end of period 47,275us-gaap_CashAndCashEquivalentsAtCarryingValue 94,369us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash paid during the period for:    
Interest 8,381us-gaap_InterestPaid 7,343us-gaap_InterestPaid
Income taxes, net of refunds 143us-gaap_IncomeTaxesPaidNet 1,578us-gaap_IncomeTaxesPaidNet
Noncash investing and financing activities:    
Common stock issued related to business acquisition   2,000us-gaap_StockIssued1
Assets acquired under capital leases $ 5,338us-gaap_FairValueOfAssetsAcquired $ 3,562us-gaap_FairValueOfAssetsAcquired