XML 75 R6.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash Flows From Operating Activities:    
Net earnings $ 55,836 $ 48,140
Adjustments to reconcile net earnings to net cash used in operating activities:    
Depreciation and amortization 15,217 13,341
Reserve for credit losses 504 269
Share-based compensation expense 6,019 5,418
Deferred taxes (3) (215)
Payments from lessees directly to lenders-operating leases (44) (118)
Gain on disposal of property, equipment, and leased equipment (614) (1,307)
Gain on sale of financing receivables 0 (5,030)
Changes in:    
Accounts receivable (102,093) (56,769)
Inventories-net (10,429) (11,674)
Financing receivables-net (87,633) (1,070)
Deferred costs and other assets (18,424) 3,971
Accounts payable-trade 33,574 16,062
Salaries and commissions payable, deferred revenue, and other liabilities 33,362 (8,846)
Net cash used in / provided by operating activities (74,728) 2,172
Cash Flows From Investing Activities:    
Proceeds from sale of property, equipment and leased equipment 1,404 2,550
Purchases of property, equipment, and operating lease equipment (7,209) (8,492)
Purchases of assets to be leased or financed 0 (13,941)
Issuance of financing receivables 0 (140,307)
Repayments of financing receivables 0 55,198
Proceeds from sale of financing receivables 0 56,983
Cash used in acquisitions, net of cash acquired (14,239) 0
Net cash used in investing activities (20,044) (48,009)
Cash Flows From Financing Activities:    
Borrowings of non-recourse and recourse notes payable 75,557 40,693
Repayments of non-recourse and recourse notes payable (9,854) (17,447)
Repurchase of common stock (13,692) (16,261)
Repayments of financing of acquisitions (5,763) (7,634)
Net borrowings (repayments) on floor plan facility 28,400 12,450
Net cash provided by financing activities 74,648 11,801
Effect of exchange rate changes on cash (137) 172
Net Decrease in Cash and Cash Equivalents (20,261) (33,864)
Cash and Cash Equivalents, Beginning of Period 79,816 118,198
Cash and Cash Equivalents, End of Period 59,555 84,334
Supplemental Disclosures of Cash Flow Information:    
Cash paid for interest 1,721 1,364
Cash paid for income taxes 19,519 18,269
Cash paid for amounts included in the measurement of lease liabilities 4,113 0
Schedule of Non-Cash Investing and Financing Activities:    
Proceeds from sale of property, equipment, and leased equipment 0 483
Purchases of property, equipment, and operating lease equipment (425) (2,704)
Purchases of assets to be leased or financed 0 2,437
Issuance of financing receivables 0 (96,406)
Proceeds from sale of financing receivables 0 88,119
Consideration for acquisitions (1,037) 0
Borrowing of non-recourse and recourse notes payable 111,234 65,042
Repayments of non-recourse and recourse notes payable (44) (118)
Vesting of share-based compensation 8,990 12,795
Repurchase of common stock 0 (393)
New operating lease assets obtained in exchange for lease obligations $ 6,035 $ 0