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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income $ 202,680 $ 103,377
Adjustments to reconcile net income to net cash provided by operating activities-    
Depreciation and amortization 95,122 84,891
Gain on sale of property and equipment, net (224) (256)
Gain on joint venture transaction (12,500) 0
Gain on business acquisition (6,958) 0
Stock-based compensation expense related to employee equity awards and employee stock purchases 17,996 15,203
Deferred income tax expense 4,116 (14,602)
Change in accounts and notes receivable, net (85,110) 12,046
Change in inventories, net (193,046) 76,772
Change in prepaid expenses and other, net (1,922) (1,255)
Change in trade accounts payable 33,307 12,376
Change in customer deposits (8,773) (23,725)
Change in accrued expenses 18,572 (26,243)
Other, net (5,081) (881)
Net cash provided by operating activities 58,179 237,703
Cash flows from investing activities:    
Acquisition of property and equipment (107,226) (84,352)
Proceeds from the sale of property and equipment 2,772 327
Business disposition 27,500 0
Business acquisition, net of cash acquired (15,051) 0
Other (2,189) 1,146
Net cash used in investing activities (94,194) (82,879)
Cash flows from financing activities:    
Draws (payments) on floor plan notes payable – non-trade, net 190,483 (40,909)
Proceeds from long-term debt 571,302 52,325
Principal payments on long-term debt (574,165) (129,221)
Principal payments on finance lease obligations (8,110) (6,361)
Proceeds from issuance of shares relating to equity awards and employee stock purchases 8,068 11,339
Taxes paid related to net share settlement of equity awards (8,637) (7,394)
Payments of cash dividends (21,589) (19,922)
Common stock repurchased (52,789) (10,818)
Net cash provided by (used in) financing activities 104,563 (150,961)
Net increase in cash and cash equivalents 68,548 3,863
Cash and cash equivalents, beginning of period 148,146 312,048
Cash and cash equivalents, end of period 216,694 315,911
Supplemental disclosure of cash flow information:    
Interest 5,964 13,213
Income taxes, net of refunds 38,354 67,766
Assets acquired under finance leases $ 5,749 $ 15,019