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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities    
Net earnings $ 49,292 $ 7,323
Adjustments to reconcile net earnings to net cash provided by operating activities    
Depreciation of rental merchandise 160,445 155,111
Bad debt expense 3,749 2,942
Stock-based compensation expense 3,043 709
Depreciation of property assets 14,597 15,693
Loss on sale or disposal of property assets 558 1,341
Amortization of intangibles 319 79
Amortization of financing fees 408 973
Deferred income taxes (121) (1,913)
Changes in operating assets and liabilities    
Rental merchandise (106,739) (123,966)
Receivables 7,270 2,942
Prepaid expenses and other assets 5,935 11,588
Operating lease right-of-use assets and lease liabilities 3,704 1,508
Accounts payable - trade (61,265) 5,066
Accrued liabilities (33,795) (3,621)
Net cash provided by operating activities 47,400 75,775
Cash flows from investing activities    
Purchase of property assets (9,151) (2,508)
Proceeds from sale of property assets 187 8,475
Net cash (used in) provided by investing activities (8,964) 5,967
Cash flows from financing activities    
Share repurchases 26,511 0
Exercise of stock options 1,194 2,892
Shares withheld for payment of employee tax withholdings (5,268) (2,330)
Debt issuance costs 0 157
Proceeds from debt 198,000 5,400
Repayments of debt (75,500) (5,400)
Dividends paid 15,912 0
Net cash provided by financing activities 76,003 405
Effect of exchange rate changes on cash (2,014) 206
Net increase in cash and cash equivalents 112,425 82,353
Cash and cash equivalents at beginning of period 70,494 155,391
Cash and cash equivalents at end of period $ 182,919 $ 237,744