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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities    
Net earnings $ 151,815 $ 133,055
Adjustments to reconcile net earnings to net cash provided by operating activities    
Depreciation of rental merchandise 471,530 455,143
Bad debt expense 10,959 11,591
Stock-based compensation expense 8,889 4,644
Depreciation of property assets 42,268 45,551
Loss on sale or disposal of property assets 1,067 278
Amortization of intangibles 810 237
Amortization of financing fees 1,186 2,574
Write-off of debt financing fees 0 2,168
Deferred income taxes 4,383 16,629
Changes in operating assets and liabilities, net of acquired assets    
Rental merchandise (435,722) (387,098)
Receivables (2,465) (11,891)
Prepaid expenses and other assets 5,871 10,080
Operating lease right-of-use assets and lease liabilities (536) 5,305
Accounts payable - trade 8,184 (8,796)
Accrued liabilities 27,987 (51,341)
Net cash provided by operating activities 296,226 228,129
Cash flows from investing activities    
Purchase of property assets (22,557) (12,010)
Proceeds from sale of property assets 196 16,922
Hurricane insurance recovery proceeds 158 995
Acquisitions of businesses 700 28,722
Net cash used in investing activities (22,903) (22,815)
Cash flows from financing activities    
Share repurchases 26,572 0
Exercise of stock options 5,737 5,813
Shares withheld for payment of employee tax withholdings (5,270) (1,733)
Debt issuance costs 0 8,454
Proceeds from debt 198,000 285,400
Repayments of debt (239,500) (568,140)
Dividends paid 47,329 0
Net cash used in financing activities (114,934) (287,114)
Effect of exchange rate changes on cash (1,485) 91
Net increase (decrease) in cash and cash equivalents 156,904 (81,709)
Cash and cash equivalents at beginning of period 70,494 155,391
Cash and cash equivalents at end of period $ 227,398 $ 73,682