XML 19 R6.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Condensed Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities from continuing operations:    
Net earnings $ 164,514 $ 148,024
Less: Loss from discontinued operations, net of tax (2,448) (947)
Earnings from continuing operations 166,962 148,971
Depreciation expense 1,028,491 932,772
Goodwill impairment charge 15,513 0
Used vehicle sales, net 16,434 11,815
Amortization expense and other non-cash charges, net 21,202 25,152
Non-operating pension costs and share-based compensation expense 22,072 35,509
Deferred income tax expense 103,082 75,820
Changes in operating assets and liabilities, net of acquisitions:    
Receivables (126,848) (145,090)
Inventories (4,389) (985)
Prepaid expenses and other assets (27,163) 255
Accounts payable 3,754 40,734
Accrued expenses and other non-current liabilities (6,737) 41,238
Net cash provided by operating activities from continuing operations 1,212,373 1,166,191
Cash flows from financing activities from continuing operations:    
Net change in commercial paper borrowings and revolving credit facilities (113,666) 2,153
Debt proceeds 1,467,528 873,302
Debt repaid (466,081) (938,160)
Dividends on common stock (83,506) (71,564)
Common stock issued 13,023 10,387
Common stock repurchased (27,680) (65,856)
Debt issuance costs and other items (4,763) (1,517)
Net cash provided by (used in) financing activities 784,855 (191,255)
Cash flows from investing activities from continuing operations:    
Purchases of property and revenue earning equipment (2,200,006) (1,312,845)
Sales of revenue earning equipment 279,751 289,432
Sales of operating property and equipment 11,869 12,541
Acquisitions, net of cash acquired (167,372) (7,240)
Collections on direct finance leases and other items 57,568 54,227
Net cash used in investing activities (2,018,190) (963,885)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 1,464 (5,226)
(Decrease) increase in cash, cash equivalents, and restricted cash from continuing operations (19,498) 5,825
Decrease in cash, cash equivalents, and restricted cash from discontinued operations (272) (1,064)
(Decrease) increase in cash, cash equivalents, and restricted cash (19,770) 4,761
Cash, cash equivalents, and restricted cash at January 1 83,022 62,639
Cash, cash equivalents, and restricted cash at September 30 $ 63,252 $ 67,400