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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities    
Net earnings (loss) $ 47,330 $ (4,237)
Adjustments to reconcile net earnings to net cash provided by operating activities    
Depreciation of rental merchandise 288,434 327,439
Bad debt expense 5,861 4,973
Stock-based compensation expense 115,681 41,410
Depreciation of property assets 16,609 18,247
Loss on sale or disposal of property assets 332 4,341
Amortization of intangibles 14,506 22,373
Amortization of financing fees 1,574 1,562
Deferred income taxes (129,065) (16,607)
Changes in operating assets and liabilities, net of acquired assets    
Rental merchandise (232,944) (165,303)
Receivables 4,232 220
Prepaid expenses and other assets 1,237 15,997
Operating lease right-of-use assets and lease liabilities 87 (3,259)
Accounts payable – trade (36,795) (4,951)
Accrued liabilities 8,338 (36,914)
Net cash provided by operating activities 105,417 205,291
Cash flows from investing activities    
Purchase of property assets (9,534) (16,403)
Proceeds from sale of property assets 3 6
Acquisitions of businesses (39) (324)
Net cash used in investing activities (9,570) (16,721)
Cash flows from financing activities    
Exercise of stock options 684 477
Shares withheld for payment of employee tax withholdings (2,535) (8,467)
Repayments of debt (42,042) (172,188)
Dividends paid (25,515) (21,105)
Net cash used in financing activities (69,408) (201,283)
Effect of exchange rate changes on cash 1,118 64
Net increase (decrease) in cash and cash equivalents 27,557 (12,649)
Cash and cash equivalents at beginning of period 144,141 108,333
Cash and cash equivalents at end of period $ 171,698 $ 95,684