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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities      
Net income $ (78,880) $ 52,929 $ 337,832
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Depreciation and amortization 81,190 68,643 80,304
Stock-based compensation 21,585 24,086 33,847
(Gain) loss on lease termination (6,813) (103) 1,614
Long-lived asset impairment 15,061 9,269 4,231
Loss (gain) on sale or disposal of assets 9,855 (5,222) 622
Provision for losses on accounts receivable 754 (892) 669
Noncash lease expense 56,685 61,045 59,647
Accretion of original debt issuance discount 2,416 2,207 2,602
Noncash interest 3,109 2,846 2,077
Deferred income taxes (12,946) (14,208) 56,500
Tax Receivable Agreement liability adjustment 0 (2,442) (114)
Change in assets and liabilities, net of acquisitions:      
Receivables and contracts in transit 10,173 (23,957) (4,111)
Inventories 228,024 200,940 (254,319)
Prepaid expenses and other assets (9,824) 16,070 (5,104)
Accounts payable and other accrued expenses (8,908) 287 (42,303)
Payment pursuant to Tax Receivable Agreement (13,350) (10,937) (11,322)
Deferred revenues (3,380) (6,796) 1,451
Operating lease liabilities (59,150) (60,033) (67,097)
CARES Act deferral of payroll taxes 0 0 (14,706)
Other, net 9,558 (2,925) 7,463
Net cash provided by operating activities 245,159 310,807 189,783
Investing activities      
Purchases of property and equipment (90,837) (131,080) (154,926)
Proceeds from sale of property and equipment 4,025 3,204 1,623
Purchases of real property (9,602) (67,194) (55,666)
Proceeds from the sale of real property 58,153 40,785 7,352
Purchases of businesses, net of cash acquired (72,323) (209,459) (217,034)
Proceeds from divestiture of business 19,957 0 0
Purchases of and loans to other investments 0 (3,444) (3,000)
Purchases of intangible assets (143) (2,218) (884)
Proceeds from sale of intangible assets 2,595 0 0
Net cash used in investing activities (88,175) (369,406) (422,535)
Financing activities      
Proceeds from long-term debt 55,624 59,227 127,759
Payments on long-term debt (80,939) (38,958) (12,322)
Net (payments) proceeds on notes payable - floor plan, net (217,857) 59,280 314,061
Borrowings on revolving line of credit 43,000 0 0
Payments on revolving line of credit (63,885) 0 0
Proceeds from landlord funded construction on finance leases 0 0 6,028
Payments on finance leases (7,485) (5,497) (5,977)
Proceeds from sale-leaseback arrangement 0 0 27,951
Payments on sale-leaseback arrangement (198) (187) (132)
Payment of debt issuance costs (1,123) (937) (3,181)
Proceeds from issuance of Class A common stock sold in a public offering, net of underwriter discounts and commissions 333,356 0 0
Payments of stock offering costs (408) 0 0
Dividends on Class A common stock (24,749) (66,831) (105,387)
Proceeds from exercise of stock options 549 389 541
RSU shares withheld for tax (5,412) (6,861) (11,128)
Repurchases of Class A common stock to treasury stock 0 0 (79,757)
Disgorgement of short-swing profits by Section 16 officer 0 0 58
Distributions to holders of LLC common units (18,682) (31,510) (162,963)
Net cash provided by (used in) financing activities 11,791 (31,885) 95,551
Increase (decrease) in cash and cash equivalents 168,775 (90,484) (137,201)
Cash and cash equivalents at beginning of the period 39,647 130,131 267,332
Cash and cash equivalents at end of the period $ 208,422 $ 39,647 $ 130,131