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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities:    
Net income $ 92,093 $ 66,262
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 142,648 117,054
Gain on sale of property and equipment (159) (76)
Stock-based compensation expense related to stock options and employee stock purchases 15,850 12,036
Deferred income tax expense 12,125 8,609
Change in accounts receivable, net 6,172 (1,481)
Change in inventories, net (200,662) (87,799)
Change in prepaid expenses and other, net 1,241 1,156
Change in trade accounts payable 26,238 12,469
Draws on floor plan notes payable – trade, net 87,548 26,439
Change in customer deposits 13,219 4,558
Change in accrued expenses 6,710 11,048
Net cash provided by operating activities 203,023 170,275
Cash flows from investing activities:    
Acquisition of property and equipment (176,221) (138,756)
Proceeds from the sale of property and equipment 5,822 3,905
Proceeds from the sale of available for sale securities 6,375 325
Change in other assets (1,803) 4,831
Net cash used in investing activities (165,827) (129,695)
Cash flows from financing activities:    
Draws on floor plan notes payable – non-trade, net 124,485 33,611
Proceeds from long-term debt 115,216 97,319
Principal payments on long-term debt (127,354) (108,526)
Principal payments on capital lease obligations (9,511) (9,280)
Proceeds from issuance of shares relating to employee stock options and employee stock purchases 3,764 20,096
Payments of cash dividends (4,692)
Common stock repurchased (58,076) (27,388)
Debt issuance costs (523)
Net cash provided by financing activities 43,832 5,309
Net increase in cash and cash equivalents 81,028 45,889
Cash and cash equivalents, beginning of period 124,541 82,026
Cash and cash equivalents, end of period 205,569 127,915
Supplemental disclosure of cash flow information:    
Interest 31,002 24,952
Income taxes, net of refunds 15,990 30,487
Assets acquired under capital leases $ 3,241 $ 8,243