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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities    
Net earnings (loss) $ 6,075 $ 9,710
Adjustments to reconcile net earnings to net cash provided by operating activities    
Depreciation of rental merchandise 859,001 937,728
Bad debt expense 17,533 18,100
Stock-based compensation expense 146,724 122,621
Depreciation of property assets 53,894 51,384
Loss on sale or disposal of property assets 413 5,979
Amortization of intangibles 43,518 51,382
Amortization of financing fees 4,770 4,798
Deferred income taxes (32,488) (21,025)
Changes in operating assets and liabilities, net of acquired assets    
Rental merchandise (824,151) (704,191)
Receivables (10,441) (4,951)
Prepaid expenses and other assets (9,600) (7,808)
Operating lease right-of-use assets and lease liabilities 385 (2,047)
Accounts payable – trade (23,070) 4,085
Accrued liabilities (12,621) (53,682)
Net cash provided by operating activities 219,942 412,083
Cash flows from investing activities    
Purchase of property assets (36,167) (49,436)
Proceeds from sale of property assets 15 35
Acquisitions of businesses (39) (775)
Net cash used in investing activities (36,191) (50,176)
Cash flows from financing activities    
Share repurchases (24,049) (29,797)
Exercise of stock options 1,518 1,720
Shares withheld for payment of employee tax withholdings (2,632) (9,477)
Proceeds from debt 0 90,000
Repayments of debt (134,229) (296,563)
Dividends paid (64,366) (60,410)
Net cash used in financing activities (223,758) (304,527)
Effect of exchange rate changes on cash 1,592 (86)
Net (decrease) increase in cash and cash equivalents (38,415) 57,294
Cash and cash equivalents at beginning of period 144,141 108,333
Cash and cash equivalents at end of period $ 105,726 $ 165,627