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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating activities    
Net income $ 25,816 $ 90,680
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 27,540 21,028
Equity-based compensation 6,579 6,347
Loss on debt restructure   1,676
Loss on disposal of assets 2,160 144
Provision for losses on accounts receivable 379 883
Non-cash lease expense 27,182  
Accretion of original debt issuance discount 532 494
Non-cash interest 2,348 2,628
Deferred income taxes 16,615 4,765
Tax Receivable Agreement liability adjustment (8,477)  
Change in assets and liabilities, net of acquisitions:    
Receivables and contracts in transit (79,823) (86,329)
Inventories 25,752 (35,707)
Prepaid expenses and other assets 7,082 (3,437)
Accounts payable and other accrued expenses 80,744 97,442
Payment pursuant to Tax Receivable Agreement (9,425) (8,100)
Accrued rent for cease-use locations 542 (547)
Deferred revenue and gains 1,088 8,362
Operating lease liability (27,174)  
Other, net 719 8,791
Net cash provided by operating activities 100,179 109,120
Investing activities    
Purchases of property and equipment (27,848) (83,685)
Purchase of real property (25,093) (81,330)
Proceeds from the sale of real property 10,117  
Purchases of businesses, net of cash acquired (38,608) (80,203)
Proceeds from sale of property and equipment 910 630
Net cash used in investing activities (80,522) (244,588)
Financing activities    
Proceeds from long-term debt 11,662 319,913
Payments on long-term debt (3,409) (76,709)
Net payments on notes payable - floor plan, net (29,426) (68,049)
Borrowings on revolving line of credit 14,029 24,403
Payments of principal on finance lease obligations (23) (478)
Payments of principal on right to use liability   (78)
Payment of debt issuance costs (47) (3,120)
Dividends on Class A common stock (11,410) (11,326)
Proceeds from exercise of stock options   146
Repurchases of Class A common stock for withholding taxes on vested RSUs (273)  
Disgorgement of short-swing profits by Section 16 officer   557
Members' distributions (38,057) (61,511)
Net cash (used in) provided by financing activities (56,954) 123,748
Decrease in cash and cash equivalents (37,297) (11,720)
Cash and cash equivalents at beginning of the period 138,557 224,163
Cash and cash equivalents at end of period $ 101,260 $ 212,443