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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities      
Net income (loss) $ (307.4) $ (5.2) $ 27.0
Adjustments to reconcile net income (loss) to net cash provided by operating activities      
Depreciation 132.2 114.4 70.2
Amortization of intangible assets 14.3 16.7 6.7
Amortization of deferred financing fees 3.5 2.9 1.8
Non-cash operating lease expense 27.2    
Write-off of deferred financing fees 2.3   3.9
Stock-based compensation expense 3.8 3.6 1.9
Deferred taxes (59.8) (19.8) (53.4)
Bad debt expense 3.7 1.1 0.2
Non-cash interest expense     0.1
Gain on disposition of property and equipment (5.2) (3.2) (0.7)
Gain on disposition of building   (0.8)  
Deferred gain recognized on sales-type leases   (2.4) (1.4)
Impairment 312.8 13.9  
Restructuring charges 8.4    
Changes in operating assets and liabilities      
Accounts receivable 8.2 (33.2) (15.3)
Drivers’ advances and other receivables (2.6)   0.5
Payments received on sales-type leases   14.7 5.8
Prepaid and other current assets (1.8) (4.2) (3.4)
Accounts payable (1.8) (8.9) 0.3
Accrued expenses and other liabilities (23.7) 15.7 1.6
Net cash provided by operating activities 114.1 105.3 45.8
Cash flows from investing activities      
Purchase of property and equipment (22.0) (66.4) (19.8)
Proceeds from sale of property and equipment 37.8 26.3 5.8
Cash paid in acquisitions, net of cash acquired   (131.7) (279.8)
Net cash provided by (used in) investing activities 15.8 (171.8) (293.8)
Cash flows from financing activities:      
Advances on line of credit 1,357.0 1,101.2 754.6
Repayments on line of credit (1,355.3) (1,105.8) (756.9)
Principal payments on long-term debt (76.0) (58.6) (239.5)
Proceeds from Term Loan Facility     500.0
Proceeds from long-term debt   6.1 12.3
Deferred financing fees (0.3) (1.5) (19.2)
Pay off of subordinated debt     (66.7)
Proceeds from issuance of common stock   84.4 127.9
Repurchase of common stock     (36.2)
Net cash provided by (used in) financing activities (79.6) 20.9 335.1
Effect of exchange rates on cash and cash equivalents (0.6) 0.9 (0.1)
Net increase (decrease) in cash and cash equivalents 49.7 (44.7) 87.0
Cash and cash equivalents – beginning of year 46.0 90.7 3.7
Cash and cash equivalents – end of year 95.7 46.0 90.7
Supplemental disclosure of cash flow information      
Cash paid for interest 46.7 42.7 28.7
Cash paid for income taxes 3.6 2.4 1.1
Noncash investing and financing activities      
Property and equipment acquired with debt or capital lease obligations 72.7 89.6 21.9
Accrued capital expenditures   0.3  
Property and equipment sold for notes receivable 0.4 0.8 0.6
Property and equipment transferred to sales-type lease   9.4 7.1
Sales-type lease returns to property and equipment   1.3 0.8
Sales-type lease assets acquired with debt or capital lease obligations   9.9  
Sales-type lease assets sold for notes receivable   57.6 28.4
Sales-type lease returns to sales-type lease assets   32.9 19.7
Common stock issued in acquisitions   19.7 64.0
Issuance of earnout share   48.2  
Right-of-use assets acquired 39.2    
Series A      
Cash flows from financing activities:      
Issuance of convertible preferred stock     65.0
Convertible preferred stock dividends $ (5.0) $ (4.9) (4.2)
Series B      
Cash flows from financing activities:      
Convertible preferred stock dividends     $ (2.0)