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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities    
Net earnings $ 24,793 $ 27,687
Adjustments to reconcile net earnings to net cash provided by operating activities    
Depreciation of rental merchandise 338,061 315,015
Bad debt expense 14,837 5,533
Stock-based compensation expense 13,279 11,940
Depreciation of property assets 17,518 21,818
Gain on sale or disposal of property assets 23 582
Amortization of intangibles 13,778 12,912
Amortization of financing fees 1,126 1,585
Deferred income taxes (13,160) (17,231)
Changes in operating assets and liabilities, net of acquired assets    
Rental merchandise (261,693) (269,025)
Receivables 1,245 (2,941)
Prepaid expenses and other assets 4,798 7,574
Operating lease right-of-use assets and lease liabilities (840) 250
Accounts payable – trade (14,355) (57,417)
Accrued liabilities (1,674) (12,861)
Net cash provided by operating activities 137,736 45,421
Cash flows from investing activities    
Purchase of property assets (10,576) (11,817)
Proceeds from sale of assets 11 97
Acquisitions of businesses, net of cash acquired (274,878) 0
Net cash used in investing activities (285,443) (11,720)
Cash flows from financing activities    
Exercise of stock options 9 855
Shares withheld for payment of employee tax withholdings (6,230) (2,978)
Proceeds from debt 459,000 60,000
Repayments of debt 237,188 79,188
Dividends paid (21,393) (21,491)
Net cash provided by (used in) financing activities 194,198 (42,802)
Effect of exchange rate changes on cash (26) 189
Net increase (decrease) in cash and cash equivalents 46,465 (8,912)
Cash and cash equivalents at beginning of period 60,860 93,705
Cash and cash equivalents at end of period $ 107,325 $ 84,793