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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net earnings $ 15,488 $ 103,861
Adjustments to reconcile net earnings to net cash provided by operating activities    
Depreciation of rental merchandise 637,870 547,034
Bad debt expense 9,494 6,058
Stock-based compensation expense 77,848 59,714
Depreciation of property assets 34,854 31,782
Loss on sale or disposal of property assets 5,998 249
Amortization of intangibles 36,881 43,712
Amortization of financing fees 3,161 2,917
Write-off of debt financing fees 0 4,546
Deferred income taxes (21,712) 21,320
Changes in operating assets and liabilities, net of acquired assets    
Rental merchandise (449,040) (555,856)
Receivables (5,711) (6,384)
Prepaid expenses and other assets 3,981 4,524
Operating lease right-of-use assets and lease liabilities (2,449) (265)
Accounts payable – trade (14,978) (28,030)
Accrued liabilities (44,564) 15,336
Net cash provided by operating activities 287,121 250,518
Cash flows from investing activities    
Purchase of property assets (30,895) (25,401)
Proceeds from sale of property assets 8 0
Acquisitions of businesses 417 1,273,542
Net cash used in investing activities (31,304) (1,298,943)
Cash flows from financing activities    
Exercise of stock options 1,260 10,626
Shares withheld for payment of employee tax withholdings (9,436) (20,903)
Debt issuance costs 0 46,085
Proceeds from debt 90,000 1,490,000
Repayments of debt (294,375) (364,688)
Dividends paid 39,492 35,054
Net cash (used in) provided by financing activities (252,043) 1,033,896
Effect of exchange rate changes on cash 68 152
Net increase (decrease) in cash and cash equivalents 3,842 (14,377)
Cash and cash equivalents at beginning of period 108,333 159,449
Cash and cash equivalents at end of period $ 112,175 $ 145,072