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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities    
Net earnings $ 87,785 $ 101,778
Adjustments to reconcile net earnings to net cash provided by operating activities    
Depreciation of rental merchandise 310,810 309,211
Bad debt expense 7,900 5,978
Stock-based compensation expense 5,892 2,691
Depreciation of property assets 28,706 30,809
Loss on sale or disposal of property assets 698 1,472
Amortization of intangibles 561 85
Amortization of financing fees 795 1,958
Deferred income taxes 2,146 10,814
Changes in operating assets and liabilities    
Rental merchandise (211,865) (253,259)
Receivables (918) (2,995)
Prepaid expenses and other assets 12,190 15,384
Operating lease right-of-use assets and lease liabilities 4,726 5,868
Accounts payable - trade (22,250) (18,182)
Accrued liabilities 27,543 (26,194)
Net cash provided by operating activities 254,719 185,418
Cash flows from investing activities    
Purchase of property assets (14,750) (5,088)
Proceeds from sale of property assets 187 13,792
Hurricane insurance recovery proceeds 158 995
Acquisitions of businesses 0 155
Net cash (used in) provided by investing activities (14,405) 9,544
Cash flows from financing activities    
Share repurchases 26,511 0
Exercise of stock options 1,682 4,310
Shares withheld for payment of employee tax withholdings (5,270) (1,733)
Debt issuance costs 0 157
Proceeds from debt 198,000 5,400
Repayments of debt (239,000) (5,400)
Dividends paid 31,554 0
Net cash (used in) provided by financing activities (102,653) 2,420
Effect of exchange rate changes on cash (1,729) 366
Net increase in cash and cash equivalents 135,932 197,748
Cash and cash equivalents at beginning of period 70,494 155,391
Cash and cash equivalents at end of period $ 206,426 $ 353,139