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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities      
Net income (loss) $ 642,075 $ 344,215 $ (120,301)
Adjustments to reconcile net income (loss) to net cash used in operating activities:      
Depreciation and amortization 66,418 51,981 59,932
Equity-based compensation 47,936 20,661 13,145
Loss (gain) on lease termination 2,211 4,547 (686)
Loss on debt restructure 1,390 0 0
Long-lived asset impairment 3,044 12,353 66,270
(Gain) loss on sale or disposal of assets (576) 1,332 11,492
Provision for losses on accounts receivable 1,610 1,068 (20)
Non-cash lease expense 60,519 57,536 54,921
Accretion of original debt issuance discount 1,330 1,079 1,038
Non-cash interest 2,513 4,306 4,585
Deferred income taxes (5,890) 6,606 14,897
Tax Receivable Agreement liability adjustment 2,813 (141) (10,005)
Change in assets and liabilities, net of acquisitions:      
Receivables and contracts in transit (28,797) (2,777) 12,217
Inventories (629,830) 239,334 216,111
Prepaid expenses and other assets (4,676) (3,016) (7,951)
Accounts payable and other accrued expenses 52,694 39,846 (15,350)
Payment pursuant to Tax Receivable Agreement (8,089) (6,563) (9,425)
Deferred revenue 14,761 4,560 708
Operating lease liabilities (63,462) (68,951) (54,403)
CARES Act deferral of payroll taxes (14,616) 29,231 0
Other, net 10,626 10,462 14,759
Net cash provided by operating activities 154,004 747,669 251,934
Investing activities      
Purchases of property and equipment (118,657) (31,845) (56,789)
Proceeds from sale of property and equipment 2,199 1,751 4,068
Purchase of real property (129,154) (53,078) (31,567)
Proceeds from the sale of real property 3,635 7,484 28,169
Purchases of businesses, net of cash acquired (100,117) (47,571) (48,418)
Purchase of other investments (7,983) 0 0
Purchase of equity securities 0 (2,500) 0
Purchases of intangible assets (5,695) (176) 0
Net cash used in investing activities (355,772) (125,935) (104,537)
Financing activities      
Proceeds from long-term debt 430,698 0 11,663
Payments on long-term debt (177,948) (36,792) (11,991)
Net proceeds (payments) on notes payable - floor plan, net 487,946 (324,485) (43,989)
Additional borrowings 20,000 0 14,029
Payments on revolving line of credit (20,000) (20,000) (11,883)
Payments on finance leases (2,871) (2,278) (1,667)
Payment of debt issuance costs (1,925) 0 (47)
Dividends on Class A common stock (67,176) (61,025) (22,878)
Proceeds from exercise of stock options 4,111 4,635 0
RSU shares withheld for tax (12,089) (4,742) (1,478)
Stock award shares withheld for tax (7,727) 0 0
Repurchases of Class A common stock to treasury stock (156,256) (21,522) 0
Distributions to holders of LLC common units (193,735) (136,974) (70,192)
Net cash provided by (used in) financing activities 303,028 (603,183) (138,433)
Increase in cash and cash equivalents 101,260 18,551 8,964
Cash and cash equivalents at beginning of the period 166,072 147,521 138,557
Cash and cash equivalents at end of the period $ 267,332 $ 166,072 $ 147,521