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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Operating activities    
Net income $ 49,441 $ 37,780
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 6,853 5,891
Equity-based compensation 719  
Gain on sale of assets (318) (24)
Provision for losses on accounts receivable (20) 269
Accretion of original issue discount 257 302
Non-cash interest 1,169 1,249
Deferred income taxes 1,103 121
Gain on remeasurement of tax receivable agreement (17)  
Change in assets and liabilities, net of acquisitions:    
Receivables and contracts in transit (44,263) (41,435)
Inventories (60,943) (114,230)
Prepaid expenses and other assets 1,350 (4,291)
Checks in excess of bank balance   4,464
Accounts payable and other accrued expenses 59,501 49,472
Accrued rent for cease-use locations 121 (73)
Deferred revenue and gains (2,801) (2,557)
Other, net 2,622 (1,039)
Net cash provided by (used in) operating activities 14,774 (64,101)
Investing activities    
Purchases of property and equipment (10,029) (7,023)
Purchase of real property (6,024) (9,482)
Proceeds from the sale of real property   1,244
Purchases of businesses, net of cash acquired (75,448) (60,251)
Proceeds from sale of property and equipment 379 2,708
Net cash used in investing activities (91,122) (72,804)
Financing activities    
Proceeds from long-term debt 94,762  
Payments on long-term debt (1,850) (10,020)
Net borrowings on notes payable - floor plan, net 70,348 103,896
Payments of principal on capital lease obligations (357) (416)
Payments of principal on right to use liability (36) (56)
Payment of debt issuance costs (1,171)  
Dividends on Class A common stock (2,903)  
Members' distributions (21,907) (28,568)
Net cash provided by financing activities 136,886 64,836
Increase (decrease) in cash 60,538 (72,069)
Cash at beginning of the period 114,196 92,025
Cash at end of the period $ 174,734 $ 19,956