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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net income $ 348,061 $ 392,085 $ 241,415
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation and amortization 221,141 199,149 169,497
Gain on sale of property and equipment, net (843) (2,467) (1,432)
Gain on joint venture transaction 0 (12,500) 0
Gain on business acquisition 0 (6,958) 0
Stock-based compensation expense related to employee stock options and employee stock purchases 30,354 25,315 22,246
Provision for deferred income tax expense 7,601 4,261 14,034
Change in accounts receivable, net (38,307) (74,607) 32,312
Change in inventories (297,678) (324,508) (33,572)
Change in prepaid expenses and other, net 862 1,340 (252)
Change in trade accounts payable (10,629) 31,438 12,053
Change in customer deposits 28,803 34,121 2,993
Change in accrued expenses 7,198 32,789 (31,337)
Other, net (850) (5,058) (5,611)
Net cash provided by operating activities 295,713 294,400 422,346
Cash flows from investing activities:      
Acquisition of property and equipment (368,881) (243,060) (167,177)
Proceeds from the sale of property and equipment 2,212 7,124 3,447
Business disposition 0 27,500 0
Business acquisitions, net of cash (16,050) (20,762) (269,332)
Other (4,311) (11,732) 157
Net cash used in investing activities (387,030) (240,930) (432,905)
Cash flows from financing activities:      
Draws (payments) on floor plan notes payable – non-trade, net 205,487 273,906 118,945
Proceeds from long-term debt 1,429,083 958,328 260,336
Principal payments on long-term debt (1,291,615) (1,084,465) (455,064)
Principal payments on finance lease obligations (17,693) (14,780) (13,774)
Proceeds from issuance of shares relating to employee stock options and employee stock purchases 18,077 13,255 18,313
Taxes paid related to net share settlement of equity awards (7,017) (8,669) (7,443)
Payments of cash dividends (50,582) (44,556) (41,060)
Common stock repurchased (211,778) (93,709) (33,596)
Net cash provided by (used in) financing activities 73,962 (690) (153,343)
Net (decrease) increase in cash, cash equivalents and restricted cash (17,355) 52,780 (163,902)
Effect of exchange rate on cash 36 118 0
Cash, cash equivalents and restricted cash, beginning of year 201,044 148,146 312,048
Cash, cash equivalents and restricted cash, end of year 183,725 201,044 148,146
Supplemental disclosure of cash flow information:      
Interest 56,427 21,694 22,224
Income taxes paid, net 106,872 102,038 101,987
Assets acquired under finance leases $ 43,330 $ 33,654 $ 29,044