XML 78 R6.htm IDEA: XBRL DOCUMENT v3.19.3
Consolidated Condensed Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities from continuing operations:    
Net earnings $ 29,076 $ 172,636
Less: Loss from discontinued operations, net of tax (728) (2,448)
Earnings from continuing operations 29,804 175,084
Depreciation expense 1,342,746 1,021,984
Goodwill impairment charge 0 15,513
Used vehicle sales, net 49,091 16,193
Amortization expense and other non-cash charges, net 125,289 104,871
Non-operating pension costs and share-based compensation expense 41,737 22,072
Deferred income tax expense 32,157 105,893
Collections on sales-type leases 89,995 63,335
Changes in operating assets and liabilities:    
Receivables (17,784) (126,848)
Inventories (3,869) (4,389)
Prepaid expenses and other assets (19,439) (104,473)
Accounts payable (30,241) 3,754
Accrued expenses and other non-current liabilities (50,300) (17,429)
Net cash provided by operating activities from continuing operations 1,589,186 1,275,560
Cash flows from financing activities from continuing operations:    
Net borrowings (repayments) of commercial paper and revolving credit facilities 182,708 (113,666)
Debt proceeds 2,238,622 1,467,528
Debt repaid (1,334,044) (471,700)
Dividends on common stock (87,039) (83,506)
Common stock issued 5,554 13,023
Common stock repurchased (24,426) (27,680)
Debt issuance costs and other items (4,815) (4,763)
Net cash provided by financing activities from continuing operations 976,560 779,236
Cash flows from investing activities from continuing operations:    
Purchases of property and revenue earning equipment (2,957,232) (2,200,006)
Sales of revenue earning equipment 353,743 279,751
Sales of operating property and equipment 49,726 11,869
Acquisitions, net of cash acquired 0 (167,372)
Net cash used in investing activities from continuing operations (2,553,763) (2,075,758)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (3,254) 1,464
Increase (decrease) in cash, cash equivalents, and restricted cash from continuing operations 8,729 (19,498)
Decrease in cash, cash equivalents, and restricted cash from discontinued operations (973) (272)
Increase (decrease) in cash, cash equivalents, and restricted cash 7,756 (19,770)
Cash, cash equivalents, and restricted cash at January 1 68,111 83,022
Cash, cash equivalents, and restricted cash at September 30 $ 75,867 $ 63,252