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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities:    
Net income $ 90,994 $ 9,389
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 209,724 186,574
Provision for credit losses 19,756 23,196
Impairment loss on intangible asset 0 132,540
Gain on sale of rental equipment and other property, plant and equipment (14,338) (12,523)
Amortization of debt discounts and debt issuance costs 6,974 5,916
Stock-based compensation expense 16,714 18,713
Deferred income tax expense (benefit) 1,129 (22,995)
Unrealized currency losses (gains), net 133 (25)
Other 1,990 2,070
Changes in operating assets and liabilities    
Trade receivables 18 (12,701)
Inventories 530 (2,446)
Prepaid expenses and other assets 10,027 (10,512)
Operating lease assets and liabilities 239 1,076
Accounts payable and other accrued expenses 80,394 54,721
Deferred revenue and customer deposits (12,346) 11,294
Net cash provided by operating activities 411,938 384,287
Investing activities:    
Acquisitions, net of cash acquired (136,815) (70,575)
Purchase of rental equipment and refurbishments (157,821) (137,591)
Proceeds from sale of rental equipment 30,332 30,668
Purchase of property, plant and equipment (10,920) (12,801)
Proceeds from sale of property, plant and equipment 1,593 215
Purchases of investments (68) (3,245)
Maturities of marketable securities 600 0
Net cash used in investing activities (273,099) (193,329)
Financing activities:    
Receipts from borrowings 860,307 782,235
Repayment of borrowings (880,890) (870,028)
Payment of financing costs (7,328) (5,220)
Payments on finance lease obligations (11,231) (9,569)
Receipts from issuance of Common Stock from the exercise of options 10,040 121
Repurchase and cancellation of Common Stock (73,225) (78,677)
Taxes paid on employee stock awards (7,983) (14,524)
Dividends paid (25,632) 0
Net cash used in financing activities (135,942) (195,662)
Effect of exchange rate changes on cash and cash equivalents 952 (330)
Net change in cash and cash equivalents 3,849 (5,034)
Cash and cash equivalents at the beginning of the period 9,001 10,958
Cash and cash equivalents at the end of the period 12,850 5,924
Supplemental cash flow information:    
Interest paid, net 103,689 109,524
Income taxes paid, net 10,812 36,062
Capital expenditures accrued or payable $ 16,035 $ 15,695