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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities    
Net income $ 7,200 $ 13,571
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 23,113 21,330
Amortization of debt issuance costs 705 692
Amortization of intangible assets 76 84
Stock-based compensation expense 470 512
Unrealized (gain) loss on foreign exchange (7) 114
Loss (gain) on sale of used rental equipment 733 (357)
Deferred income taxes 100 325
Bad debt expense 150 104
Changes in other operating assets and liabilities:    
Accounts receivable (7,993) 6,219
Prepaid expenses and other assets (53) 25
Accounts payable, accrued expenses and other current liabilities 4,040 (5,928)
Due to container investors 194 (2,953)
Unearned revenue 1,383 466
Net cash provided by operating activities 30,111 34,204
Cash flows from investing activities    
Purchase of rental equipment (45,844) (88,332)
Acquisitions, net of cash acquired (6,680)  
Net proceeds from sale of used rental equipment 12,740 13,884
Purchase of furniture, fixtures and equipment (25) (15)
Receipt of principal payments from direct financing leases 7,073 5,154
Net cash used in investing activities (32,736) (69,309)
Cash flows from financing activities    
Proceeds from debt 145,200 94,581
Principal payments on debt (136,445) (59,952)
Debt issuance costs (10) (1,654)
Decrease in restricted cash 255 254
Repurchase of stock (6,032)  
Exercise of stock options   4,374
Excess tax benefit from share-based compensation awards   810
Net cash provided by financing activities 2,968 38,413
Effect on cash of foreign currency translation 206 (469)
Net increase in cash 549 2,839
Cash at beginning of the period 52,553 53,821
Cash at end of the period 53,102 56,660
Cash paid during the period for:    
Income taxes 245 1,665
Interest 9,964 8,909
Supplemental disclosure of non-cash investing and financing activity    
Transfer of rental equipment to direct finance lease $ 8,879 $ 5,448