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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating activities    
Net (loss) income $ (39,447) $ 136,835
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 41,644 34,207
Equity-based compensation 9,513 10,535
Loss on debt restructure   1,676
Long-lived asset impairment 50,025  
Loss on disposal of assets 9,247 987
Provision for losses on accounts receivable 562 1,957
Non-cash lease expense 40,739  
Accretion of original debt issuance discount 776 764
Non-cash interest 3,362 4,655
Deferred income taxes 18,620 7,621
Tax Receivable Agreement liability adjustment (8,477)  
Change in assets and liabilities, net of acquisitions:    
Receivables and contracts in transit (37,121) (56,118)
Inventories 195,137 (42,630)
Prepaid expenses and other assets 12,634 5,496
Accounts payable and other accrued expenses 59,220 124,442
Payment pursuant to Tax Receivable Agreement (9,425) (8,100)
Accrued rent for cease-use locations   (622)
Deferred revenue and gains 9,060 19,328
Operating lease liabilities (40,405)  
Other, net 7,477 13,040
Net cash provided by operating activities 323,141 254,073
Investing activities    
Purchases of property and equipment (45,039) (108,422)
Purchase of real property (27,821) (100,073)
Proceeds from the sale of real property 24,622  
Purchases of businesses, net of cash acquired (48,408) (82,195)
Proceeds from sale of property and equipment 4,955 892
Net cash used in investing activities (91,691) (289,798)
Financing activities    
Proceeds from long-term debt 11,663 319,913
Payments on long-term debt (10,122) (76,709)
Net payments on notes payable - floor plan, net (170,215) (212,080)
Borrowings on revolving line of credit 14,029 24,403
Payments on revolving line of credit (6,428)  
Payments of principal on finance lease obligations (23) (660)
Payments of principal on right to use liability   (119)
Payment of debt issuance costs (47) (3,120)
Dividends on Class A common stock (17,137) (16,999)
Proceeds from exercise of stock options   153
RSU shares withheld for tax (821) (62)
Disgorgement of short-swing profits by Section 16 officer   557
Members' distributions (60,672) (98,349)
Net cash used in financing activities (239,773) (63,072)
Decrease in cash and cash equivalents (8,323) (98,797)
Cash and cash equivalents at beginning of the period 138,557 224,163
Cash and cash equivalents at end of period $ 130,234 $ 125,366