XML 21 R7.htm IDEA: XBRL DOCUMENT v3.25.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:      
Net earnings $ 107,978 $ 115,776 $ 119,356
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:      
Depreciation and amortization 29,596 25,928 18,589
Provision for credit losses 2,981 1,204 666
Share-based compensation expense 9,996 9,731 7,825
Deferred taxes 3,413 (2,656) 2,083
Net gain on disposal of property, equipment, and operating lease equipment (1,474) (491) (3,479)
Changes in:      
Accounts receivable 168,996 (104,039) (78,679)
Inventories 29,364 104,781 (88,097)
Financing receivables—net (138,863) (32,054) (41,015)
Deferred costs and other assets (34,445) (4,982) (73,980)
Accounts payable 112,082 82,911 75,270
Salaries and commissions payable, deferred revenue, and other liabilities 12,521 52,340 46,036
Net cash provided by (used in) operating activities 302,145 248,449 (15,425)
Cash flows from investing activities:      
Proceeds from sale of property, equipment, and operating lease equipment 2,662 721 3,742
Purchases of property, equipment, and operating lease equipment (6,603) (8,503) (9,380)
Cash used in acquisitions, net of cash acquired (124,926) (54,182) (13,288)
Net cash used in investing activities (128,867) (61,964) (18,926)
Cash flows from financing activities:      
Borrowings of non-recourse and recourse notes payable 42,820 297,305 193,051
Repayments of non-recourse and recourse notes payable (19,210) (279,649) (196,069)
Proceeds from issuance of common stock 3,635 3,019 0
Repurchase of common stock (46,937) (9,853) (7,224)
Payments to settle liabilities for acquisitions (2,307) 0 0
Net repayments on floor plan facility (15,577) (47,441) (10,708)
Net cash used in financing activities (37,576) (36,619) (20,950)
Effect of exchange rate changes on cash 652 62 3,016
Net increase (decrease) in cash and cash equivalents 136,354 149,928 (52,285)
Cash and cash equivalents, beginning of period 253,021 103,093 155,378
Cash and cash equivalents, end of period 389,375 253,021 103,093
Supplemental disclosures of cash flow information:      
Cash paid for interest 2,300 3,768 4,065
Cash paid for income taxes 48,732 41,526 51,984
Cash paid for amounts included in the measurement of lease liabilities 5,821 4,071 4,610
Schedule of non-cash investing and financing activities:      
Proceeds from sale of property, equipment, and leased equipment 1 78 21
Purchases of property, equipment, and operating lease equipment (219) (283) (1,453)
Consideration for acquisitions 0 (2,307) 0
Borrowing of non-recourse and recourse notes payable 16,210 30,329 39,558
Debt derecognized due to sales of financial assets (37,236) (52,133) (30,487)
Vesting of share-based compensation 11,893 9,477 9,897
Repurchase of common stock 0 0 (122)
New operating lease assets obtained in exchange for lease obligations $ 7,146 $ 4,883 $ 11,886