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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash Flows from Operating Activities:    
Net income $ 18,793 $ 17,398
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 27,584 23,460
Deferred income taxes (3,676) (3,258)
Provision for doubtful accounts 13 99
Share-based compensation 1,760 1,777
Gain on sale of used rental equipment (5,364) (4,794)
Foreign currency exchange (gain) loss (13) 55
Amortization of debt issuance costs 4 3
Change in:    
Accounts receivable 7,922 1,009
Prepaid expenses and other assets 4,213 (94)
Accounts payable and accrued liabilities (4,716) (2,633)
Deferred income 5,223 4,587
Net cash provided by operating activities 51,743 37,609
Cash Flows from Investing Activities:    
Purchases of rental equipment (39,430) (17,984)
Purchases of property, plant and equipment (5,417) (981)
Proceeds from sales of used rental equipment 10,308 10,418
Net cash used in investing activities (34,539) (8,547)
Cash Flows from Financing Activities:    
Net repayment under bank lines of credit (2,482) (13,931)
Taxes paid related to net share settlement of stock awards (3,605) (3,482)
Payment of dividends (11,006) (10,554)
Net cash used in financing activities (17,093) (27,967)
Effect of foreign currency exchange rate changes on cash 1 (4)
Net increase in cash 112 1,091
Cash balance, beginning of period 1,491 1,238
Cash balance, end of period 1,603 2,329
Supplemental Disclosure of Cash Flow Information:    
Interest paid, during the period 2,137 1,625
Net income taxes paid, during the period 420 372
Dividends accrued during the period, not yet paid 11,357 9,810
Rental equipment acquisitions, not yet paid $ 12,869 $ 11,095