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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:      
Net income $ 139,062 $ 172,129 $ 40,582
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation and amortization 185,122 157,951 157,627
(Gain) loss on sale of property and equipment, net (297) 105 (1,755)
Loss on impairment of assets 8,247
Stock-based compensation expense related to employee stock options and employee stock purchases 18,059 15,606 12,875
Provision (benefit) for deferred income tax expense 5,997 (62,203) 8,331
Excess tax expense from stock-based compensation 294
Change in accounts receivable, net (7,746) (29,424) 1,673
Change in inventories (255,040) (147,453) 291,773
Change in prepaid expenses and other, net 1,907 (3,383) 24,155
Change in trade accounts payable 18,490 8,964 (22,411)
Draws on floor plan notes payable – trade, net 76,646 19,355 3,989
Change in customer deposits 8,833 8,932 (4,020)
Change in accrued expenses 24,331 12,158 (190)
Net cash provided by operating activities 215,364 152,737 521,170
Cash flows from investing activities:      
Acquisition of property and equipment (238,260) (209,917) (196,965)
Proceeds from the sale of property and equipment 6,325 3,968 12,494
Business acquisitions (2,180) (681)
Proceeds from the sale of available for sale securities 6,375 325 450
Other (1,683) 1,241 (4,708)
Net cash used in investing activities (227,243) (206,563) (189,410)
Cash flows from financing activities:      
Draws (payments) on floor plan notes payable – non-trade, net 167,812 112,261 (211,802)
Proceeds from long-term debt 156,751 152,563 121,188
Principal payments on long-term debt (167,106) (145,038) (164,940)
Principal payments on capital lease obligations (12,429) (12,449) (23,479)
Proceeds from issuance of shares relating to employee stock options and employee stock purchases 3,926 23,327 8,260
Excess tax expense from stock-based compensation (294)
Common stock repurchased (120,558) (33,800) (43,514)
Payments of cash dividends (9,332)
Debt issuance costs (523)
Net cash provided by (used in) financing activities 19,064 96,341 (314,581)
Net increase (decrease) in cash and cash equivalents 7,185 42,515 17,179
Cash and cash equivalents, beginning of year 124,541 82,026 64,847
Cash and cash equivalents, end of year 131,726 124,541 82,026
Supplemental disclosure of cash flow information:      
Interest 42,752 34,149 37,904
Income taxes paid (refunded), net 28,674 31,323 (10,939)
Noncash investing and financing activities:      
Assets acquired under capital leases $ 4,914 $ 15,205 $ 24,207