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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash Flows from Operating Activities:      
Net income $ 174,621 $ 115,138 $ 89,705
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 109,375 111,344 106,695
Deferred income taxes (16,952) 4,486 26,348
Provision for credit losses 2,633 837 451
Share-based compensation 8,275 8,009 7,666
Gain on sale of property, plant and equipment (3,618)    
Gain on sale of discontinued operations (61,513)    
Gain on sale of used rental equipment (31,642) (37,979) (25,441)
Foreign currency exchange (gain) loss (310) 378 210
Amortization of debt issuance costs 8 16 15
Change in:      
Accounts receivable (37,776) (31,361) (24,397)
Prepaid expenses and other assets (29,326) (16,484) (6,816)
Accounts payable and accrued liabilities (32,526) 16,347 12,225
Deferred income 14,094 23,701 9,082
Net cash provided by operating activities 95,343 194,432 195,743
Cash Flows from Investing Activities:      
Proceeds from sale of discontinued operations 268,012    
Purchases of rental equipment (229,679) (187,689) (114,145)
Purchases of property, plant and equipment (43,989) (17,617) (2,680)
Cash paid for acquisition of businesses (458,315)   (283,124)
Cash paid for acquisition of business assets (3,767)   (6,585)
Cash paid for acquisition of non-compete agreements     (2,500)
Proceeds from sales of used rental equipment 66,168 73,879 57,337
Proceeds from sales of property, plant and equipment 9,702    
Net cash used in investing activities (391,868) (131,427) (351,696)
Cash Flows from Financing Activities:      
Net borrowings under bank lines of credit 274,225 47,275 143,729
Borrowings under senior note purchase agreement 75,000   100,000
Repayments of Senior Debt   (60,000) (40,000)
Taxes paid related to net share settlement of stock awards (7,233) (6,539) (5,345)
Payment of dividends (45,556) (44,269) (42,182)
Net cash provided by (used in) financing activities 296,436 (63,533) 156,202
Effect of foreign currency exchange rate changes on cash 9 (6) 4
Net increase (decrease) in cash (80) (534) 253
Cash balance, beginning of period 957 1,491 1,238
Cash balance, end of period 877 957 1,491
Supplemental Disclosure of Cash Flow Information:      
Interest paid, during the period 38,603 14,775 10,326
Net income taxes paid, during the period 91,565 27,362 9,087
Dividends accrued during the period, not yet paid 12,010 11,227 11,280
Rental equipment acquisitions, not yet paid $ 16,653 $ 13,220 $ 5,750