XML 17 R6.htm IDEA: XBRL DOCUMENT v3.21.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities    
Net earnings $ 42,552 $ 49,292
Adjustments to reconcile net earnings to net cash provided by operating activities    
Depreciation of rental merchandise 237,636 160,445
Bad debt expense 3,449 3,749
Stock-based compensation expense 20,148 3,043
Depreciation of property assets 14,459 14,597
Loss on sale or disposal of property assets 165 558
Amortization of intangibles 14,192 319
Amortization of financing fees 1,117 408
Write-off of debt financing fees 4,546 0
Deferred income taxes 3,852 (121)
Changes in operating assets and liabilities, net of acquired assets    
Rental merchandise (222,054) (106,739)
Receivables 1,674 7,270
Prepaid expenses and other assets 9,932 5,935
Operating lease right-of-use assets and lease liabilities (171) 3,704
Accounts payable - trade (22,152) (61,265)
Accrued liabilities 26,448 (33,795)
Net cash provided by operating activities 135,793 47,400
Cash flows from investing activities    
Purchase of property assets (11,388) (9,151)
Proceeds from sale of property assets 0 187
Acquisitions of businesses 1,267,903 0
Net cash used in investing activities (1,279,291) (8,964)
Cash flows from financing activities    
Share repurchases 0 26,511
Exercise of stock options 8,944 1,194
Shares withheld for payment of employee tax withholdings (20,903) (5,268)
Debt issuance costs 46,085 0
Proceeds from debt 1,490,000 198,000
Repayments of debt (307,500) (75,500)
Dividends paid 17,116 15,912
Net cash provided by financing activities 1,107,340 76,003
Effect of exchange rate changes on cash (272) (2,014)
Net (decrease) increase in cash and cash equivalents (36,430) 112,425
Cash and cash equivalents at beginning of period 159,449 70,494
Cash and cash equivalents at end of period $ 123,019 $ 182,919