XML 19 R6.htm IDEA: XBRL DOCUMENT v3.19.2
Consolidated Condensed Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities from continuing operations:    
Net earnings $ 120,531 $ 81,794
Less: Loss from discontinued operations, net of tax (811) (1,688)
Earnings from continuing operations 121,342 83,482
Depreciation expense 768,030 675,505
Goodwill impairment charge 0 15,513
Used vehicle sales, net 26,357 12,990
Amortization expense and other non-cash charges, net 82,585 69,074
Non-operating pension costs and share-based compensation expense 28,097 13,732
Deferred income tax expense 41,688 82,123
Collections on sales-type leases 63,047 43,170
Changes in operating assets and liabilities:    
Receivables 8,196 (26,643)
Inventories (1,524) 438
Prepaid expenses and other assets (6,175) (61,464)
Accounts payable (3,965) 27,429
Accrued expenses and other non-current liabilities (82,619) (70,524)
Net cash provided by operating activities from continuing operations 1,045,059 864,825
Cash flows from financing activities from continuing operations:    
Net change in commercial paper borrowings and revolving credit facilities 227,023 (8,049)
Debt proceeds 1,691,906 1,043,309
Debt repaid (902,814) (451,673)
Dividends on common stock (57,651) (55,095)
Common stock issued 2,715 4,663
Common stock repurchased (21,220) (17,221)
Debt issuance costs and other items (2,920) (1,884)
Net cash provided by financing activities from continuing operations 937,039 514,050
Cash flows from investing activities from continuing operations:    
Purchases of property and revenue earning equipment (2,210,761) (1,421,301)
Sales of revenue earning equipment 210,081 196,274
Sales of operating property and equipment 46,189 5,860
Acquisitions, net of cash acquired 0 (169,128)
Net cash used in investing activities from continuing operations (1,954,491) (1,388,295)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (2,611) 3,334
Increase (decrease) in cash, cash equivalents, and restricted cash from continuing operations 24,996 (6,086)
Decrease in cash, cash equivalents, and restricted cash from discontinued operations (605) (631)
Increase (decrease) in cash, cash equivalents, and restricted cash 24,391 (6,717)
Cash, cash equivalents, and restricted cash at January 1 68,111 83,022
Cash, cash equivalents, and restricted cash at June 30 $ 92,502 $ 76,305