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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities    
Net income $ 17,291 $ 15,988
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization of property and equipment 10,663 10,374
Amortization of operating lease right-of-use assets 5,050 4,207
Amortization of intangibles 8,396 6,680
Amortization of deferred financing costs and debt discount 331 325
Provision for credit losses 127 1,298
Gain on sale of property and equipment (252) (35)
Noncash stock compensation 3,196 2,681
Amortization of terminated interest rate swap 798 0
Changes in assets and liabilities, excluding effects of acquisitions    
Accounts receivable 1,056 (1,000)
Inventories (7,644) 1,411
Other assets (1,794) 6,933
Accounts payable 524 (8,308)
Income taxes receivable/payable 4,633 5,649
Other liabilities (4,757) (10,291)
Net cash provided by operating activities 37,618 35,912
Cash flows from investing activities    
Purchases of investments 0 (776)
Maturities of short term investments 0 12,275
Purchases of property and equipment (10,846) (9,919)
Payments to Acquire Businesses, Net of Cash Acquired (41,930) (8,501)
Proceeds from sale of property and equipment 389 162
Other (5) (1,340)
Net cash used in investing activities (52,392) (8,099)
Cash flows from financing activities    
Proceeds from vehicle and equipment notes payable 7,808 7,094
Debt issuance costs 0 (22)
Principal payments on long-term debt (6,481) (6,711)
Principal payments on finance lease obligations (530) (738)
Dividends paid (8,786) 0
Acquisition-related obligations (1,414) (2,378)
Repurchase of common stock 0 (15,759)
Net cash used in financing activities (9,403) (18,514)
Net change in cash and cash equivalents (24,177) 9,299
Cash and cash equivalents at beginning of period 231,520 177,889
Cash and cash equivalents at end of period 207,343 187,188
Supplemental disclosures of cash flow information    
Interest 10,839 9,798
Income taxes, net of refunds 1,474 37
Supplemental disclosure of noncash activities    
Right-of-use assets obtained in exchange for operating lease obligations 5,679 5,612
Property and equipment obtained in exchange for finance lease obligations 268 343
Seller obligations in connection with acquisition of businesses 5,959 2,570
Unpaid purchases of property and equipment included in accounts payable $ 1,043 $ 1,346