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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net earnings $ 37,206 $ 36,286
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:    
Depreciation and amortization 9,460 10,077
Reserve for credit losses 1,766 631
Share-based compensation expense 3,648 4,054
Deferred taxes 1,032 (3)
Payments from lessees directly to lenders-operating leases (13) (34)
Gain on disposal of property, equipment, and operating lease equipment (278) (436)
Changes in:    
Accounts receivable 1,755 (46,100)
Inventories-net (23,381) (5,301)
Financing receivables-net (54,386) (76,423)
Deferred costs and other assets (1,052) (18,826)
Accounts payable-trade 21,717 15,585
Salaries and commissions payable, deferred revenue, and other liabilities 10,934 26,086
Net cash provided by (used in) operating activities 8,408 (54,404)
Cash flows from investing activities:    
Proceeds from sale of property, equipment, and operating lease equipment 456 653
Purchases of property, equipment and operating lease equipment (3,267) (4,888)
Cash used in acquisitions, net of cash acquired 0 (13,815)
Net cash used in investing activities (2,811) (18,050)
Cash flows from financing activities:    
Borrowings of non-recourse and recourse notes payable 23,613 54,877
Repayments of non-recourse and recourse notes payable (40,529) (5,629)
Repurchase of common stock (4,487) (13,692)
Repayments of financing of acquisitions (421) (785)
Net borrowings on floor plan facility 91,554 13,585
Net cash provided by financing activities 69,730 48,356
Effect of exchange rate changes on cash (477) 114
Net increase (decrease) in cash and cash equivalents 74,850 (23,984)
Cash and cash equivalents, beginning of period 86,231 79,816
Cash and cash equivalents, end of period 161,081 55,832
Supplemental disclosures of cash flow information:    
Cash paid for interest 739 1,115
Cash paid for income taxes 12,348 12,471
Cash paid for amounts included in the measurement of lease liabilities 2,975 2,566
Schedule of non-cash investing and financing activities:    
Purchases of property, equipment, and operating lease equipment (393) (396)
Financing of acquisitions 0 (1,464)
Borrowing of non-recourse and recourse notes payable 35,780 82,462
Repayments of non-recourse and recourse notes payable (13) (34)
Vesting of share-based compensation 7,916 8,972
New operating lease assets obtained in exchange for lease obligations $ 774 $ 5,225