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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities    
Net (loss) earnings $ 9,710 $ 125,128
Adjustments to reconcile net earnings to net cash provided by operating activities    
Depreciation of rental merchandise 937,728 880,341
Bad debt expense 18,100 9,825
Stock-based compensation expense 122,621 108,156
Depreciation of property assets 51,384 49,335
Loss on sale or disposal of property assets 5,979 318
Amortization of intangibles 51,382 73,228
Amortization of financing fees 4,798 4,178
Write-off of debt financing fees 0 9,926
Deferred income taxes (21,025) 32,752
Changes in operating assets and liabilities, net of acquired assets    
Rental merchandise (704,191) (900,921)
Receivables (4,951) (21,286)
Prepaid expenses and other assets (7,808) (721)
Operating lease right-of-use assets and lease liabilities (2,047) (339)
Accounts payable – trade 4,085 (51,853)
Accrued liabilities (53,682) 8,137
Net cash provided by operating activities 412,083 326,204
Cash flows from investing activities    
Purchase of property assets (49,436) (45,876)
Proceeds from sale of property assets 35 3
Acquisitions of businesses 775 1,273,542
Net cash used in investing activities (50,176) (1,319,415)
Cash flows from financing activities    
Share repurchases 29,797 20,035
Exercise of stock options 1,720 11,368
Shares withheld for payment of employee tax withholdings (9,477) (20,903)
Debt issuance costs 0 47,622
Proceeds from debt 90,000 1,490,000
Repayments of debt (296,563) (366,875)
Dividends paid 60,410 53,182
Net cash (used in) provided by financing activities (304,527) 992,751
Effect of exchange rate changes on cash (86) (159)
Net increase (decrease) in cash and cash equivalents 57,294 (619)
Cash and cash equivalents at beginning of period 108,333 159,449
Cash and cash equivalents at end of period $ 165,627 $ 158,830