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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net income $ 141,583 $ 139,062 $ 172,129
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation and amortization 175,484 185,122 157,951
Loss (gain) on sale of property and equipment, net 102 (297) 105
Stock-based compensation expense related to employee stock options and employee stock purchases 19,005 18,059 15,606
Provision (benefit) for deferred income tax expense 22,989 5,997 (62,203)
Change in accounts receivable, net 19,831 (7,746) (29,424)
Change in inventories 81,722 (255,040) (147,453)
Change in prepaid expenses and other, net (10,237) 1,907 (3,383)
Change in trade accounts payable 2,241 18,490 8,964
(Payments) draws on floor plan notes payable – trade, net (26,579) 76,646 19,355
Change in customer deposits 6,512 8,833 8,932
Change in accrued expenses (12,757) 24,331 12,158
Other, net 1,376 0 0
Net cash provided by operating activities 421,272 215,364 152,737
Cash flows from investing activities:      
Acquisition of property and equipment (293,493) (238,260) (209,917)
Proceeds from the sale of property and equipment 2,310 6,325 3,968
Business acquisitions (10,168) 0 (2,180)
Purchase of equity method investment and call option (22,499) 0 0
Proceeds from the sale of available for sale securities 0 6,375 325
Other 3,394 (1,683) 1,241
Net cash used in investing activities (320,456) (227,243) (206,563)
Cash flows from financing activities:      
(Payments) draws on floor plan notes payable – non-trade, net (104) 167,812 112,261
Proceeds from long-term debt 210,043 156,751 152,563
Principal payments on long-term debt (183,538) (167,106) (145,038)
Principal payments on finance lease obligations (8,331) (12,429) (12,449)
Draws on line of credit 135,000 0 0
Payments on line of credit (135,000) 0 0
Proceeds from issuance of shares relating to employee stock options and employee stock purchases 8,244 3,926 23,327
Payments of cash dividends (18,317) (9,332) 0
Common stock repurchased (58,188) (120,558) (33,800)
Debt issuance costs (731) 0 (523)
Net cash (used in) provided by financing activities (50,922) 19,064 96,341
Net increase (decrease) in cash and cash equivalents 49,894 7,185 42,515
Cash and cash equivalents, beginning of year 131,726 124,541 82,026
Cash and cash equivalents, end of year 181,620 131,726 124,541
Supplemental disclosure of cash flow information:      
Interest 57,373 42,752 34,149
Income taxes paid, net 42,440 28,674 31,323
Noncash investing and financing activities:      
Assets acquired under finance leases 44,904 4,914 15,205
Common stock repurchased 99 0 0
Guaranty agreement $ 5,025 $ 0 $ 0