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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income $ 71,489 $ 90,790
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 56,834 53,896
Gain on sale of property and equipment (150) (129)
Stock-based compensation expense related to stock options and employee stock purchases 14,090 13,080
Provision for deferred income tax expense 71 3,165
Change in accounts receivable, net (49,933) (8,972)
Change in inventories, net (215,506) (52,845)
Change in prepaid expenses and other, net (4,623) (2,408)
Change in trade accounts payable 17,446 27,130
Change in customer deposits (17,705) (15,892)
Change in accrued expenses (26,863) (14,699)
Other, net (203) (650)
Net cash provided by operating activities (155,053) 92,466
Cash flows from investing activities:    
Acquisition of property and equipment (79,136) (90,446)
Proceeds from the sale of property and equipment 3,035 122
Other (6,913) (5,190)
Net cash used in investing activities (69,188) (95,514)
Cash flows from financing activities:    
Draws on floor plan notes payable – non-trade, net 110,172 82,642
Proceeds from long-term debt 698,754 257,705
Principal payments on long-term debt (587,249) (270,793)
Principal payments on finance lease obligations (5,605) (4,471)
Proceeds from issuance of shares relating to employee stock options and employee stock purchases 9,360 6,245
Taxes paid related to net share settlement of equity awards (9,486) (6,964)
Payments of cash dividends (13,868) (12,062)
Common stock repurchased (5,627) (24,008)
Net cash provided by financing activities 196,451 28,294
Net (decrease) increase in cash, cash equivalents and restricted cash (27,790) 25,246
Effect of exchange rate on cash (30) 204
Cash, cash equivalents and restricted cash, beginning of period 183,725 200,842
Cash, cash equivalents and restricted cash, beginning of period 155,905 226,292
Supplemental disclosure of cash flow information:    
Interest 18,630 11,712
Noncash investing and financing activities:    
Assets acquired under finance leases $ 12,140 $ 16,178