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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities:    
Net income $ 52,061 $ 50,727
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 16,854 12,739
Stock-based compensation 3,574 2,619
(Gain) loss on disposal of other assets (44) 279
Loss on disposal of franchise 19 0
Deferred income taxes 2,688 (417)
(Increase) decrease (net of acquisitions and dispositions):    
Trade receivables, net 42,628 76,123
Inventories (98,862) (42,298)
Other assets 14,651 (3,776)
Increase (decrease) (net of acquisitions and dispositions):    
Floor plan notes payable 17,692 2,429
Trade payables 6,933 (7,617)
Accrued liabilities (13,574) 31,116
Other long-term liabilities and deferred revenue 4,253 4,750
Net cash provided by operating activities 48,873 126,674
Cash flows from investing activities:    
Capital expenditures (42,004) (16,039)
Proceeds from sales of assets 105 399
Cash paid for other investments (7,599) (6,863)
Cash paid for acquisitions, net of cash acquired (324,367) 0
Proceeds from sales of stores 363 0
Net cash used in investing activities (373,502) (22,503)
Cash flows from financing activities:    
Borrowings (repayments) on floor plan notes payable, net: non-trade 47,841 (2,110)
Borrowings on lines of credit 893,966 231,000
Repayments on lines of credit (586,728) (351,433)
Principal payments on long-term debt and capital leases, scheduled (4,715) (4,648)
Principal payments on long-term debt and capital leases, other 0 (9,743)
Proceeds from issuance of long-term debt 0 27,878
Payments of debt issuance costs (40) 0
Proceeds from issuance of common stock 1,841 1,523
Repurchase of common stock (8,273) (9,188)
Dividends paid (6,759) (6,292)
Acquisition contingent consideration (772) 0
Net cash provided by (used in) financing activities 336,361 (123,013)
Increase (decrease) in cash and cash equivalents 11,732 (18,842)
Cash and cash equivalents at beginning of period 57,253 50,282
Cash and cash equivalents at end of period 68,985 31,440
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest 30,263 17,261
Cash paid during the period for income taxes, net 1,156 8
Floor plan debt paid in connection with store disposals 3,832 0
Supplemental schedule of non-cash activities:    
Debt assumed in connection with acquisitions $ 10,661 $ 0