XML 17 R6.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities:    
Net income $ 14,855 $ 10,152
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for doubtful accounts 961 1,164
Amortization of deferred financing costs 515 515
Amortization of long-term liabilities 36 32
Share-based compensation expense 2,229 1,311
Depreciation and amortization 16,823 15,264
Gain on sale of rental fleet (1,533) (1,703)
Loss on disposal of property, plant and equipment 334 18
Deferred income taxes 4,397 4,943
Foreign currency exchange (66) 9
Changes in certain assets and liabilities, net of effect of businesses acquired:    
Receivables 5,486 8,384
Inventories (1,067) (1,020)
Other assets 2,547 (1,115)
Accounts payable 2,678 583
Accrued liabilities (13,264) (5,814)
Net cash provided by operating activities 34,931 32,723
Cash flows from investing activities:    
Additions to rental fleet, excluding acquisitions (15,389) (10,006)
Proceeds from sale of rental fleet 3,844 4,622
Additions to property, plant and equipment, excluding acquisitions (4,752) (3,748)
Proceeds from sale of property, plant and equipment 179 68
Net cash used in investing activities (16,118) (9,064)
Cash flows from financing activities:    
Net repayments under lines of credit (12,443) (2,334)
Deferred financing costs   (13)
Principal payments on capital lease obligations (1,990) (1,760)
Issuance of common stock 1,525 1,640
Dividend payments (11,054) (10,145)
Purchase of treasury stock (533) (7,639)
Net cash used in financing activities (24,495) (20,251)
Effect of exchange rate changes on cash (6) 64
Net (decrease) increase in cash (5,688) 3,472
Cash and cash equivalents at beginning of period 13,451 4,137
Cash and cash equivalents at end of period 7,763 7,609
Supplemental disclosure of cash flow information:    
Cash paid for interest 12,348 13,671
Cash paid for income and franchise taxes 120  
Equipment and other acquired through capital lease obligations 2,897 1,879
Capital expenditures accrued or payable $ 6,613 $ 5,541