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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities    
Net loss $ (797) $ (7,746)
Adjustments to reconcile net loss to net cash provided by operating activities    
Depreciation 23,287 14,873
Amortization of intangible assets 1,895 1,442
Amortization of deferred financing fees 723 311
Write-off of deferred financing fees   3,883
Stock-based compensation expense 886  
Deferred taxes (486) (3,071)
Bad debt expense (recovery) (35) 45
Non-cash interest expense   92
Gain on disposition of property and equipment (991) (185)
Deferred gain recognized on sales-type leases (535) (156)
Changes in operating assets and liabilities    
Accounts receivable (16,137) (13,211)
Drivers' advances and other receivables 9 221
Payments received on sales-type leases 3,045 899
Prepaid and other current assets (2,290) 140
Accounts payable 1,746 2,716
Accrued expenses and other liabilities 3,869 1,454
Net cash provided by operating activities 14,189 1,707
Cash flows from investing activities    
Purchase of property and equipment (7,580) (1,494)
Proceeds from sale of property and equipment 5,868 1,455
Net cash used in investing activities (1,712) (39)
Cash flows from financing activities:    
Advances on line of credit 212,634 164,233
Repayments on line of credit (209,975) (171,091)
Advances on long-term debt 5,901  
Principal payments on and payoff of long-term debt (12,393) (220,406)
Proceeds from Term Loan Facility   250,000
Deferred financing fees (18) (14,229)
Pay off of subordinated debt   (66,715)
Issuance of common stock 84,569 64,577
Repurchase of common stock   (36,168)
Exercise of options 49  
Net cash provided by financing activities 79,528 33,186
Effect of exchange rates on cash and cash equivalents 14  
Net increase in cash and cash equivalents 92,019 34,854
Cash and cash equivalents – beginning of period 90,679 3,695
Cash and cash equivalents – end of period 182,698 38,549
Supplemental disclosure of cash flow information    
Cash paid for interest 9,635 6,870
Cash paid for income taxes 97 223
Noncash investing and financing activities    
Property and equipment sold for notes receivable 332 35
Property and equipment transferred to sales-type lease 1,304 1,699
Sales-type lease returns to property and equipment   645
Sales-type lease assets sold for notes receivable 9,162 6,071
Sales-type lease returns to sales-type lease assets 8,811 3,491
Series A    
Cash flows from financing activities:    
Issuance of convertible preferred stock   65,000
Convertible preferred stock dividends $ (1,239)  
Series B    
Cash flows from financing activities:    
Convertible preferred stock dividends   $ (2,015)