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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net income $ 37,104 $ 21,039
Adjustments to reconcile net income to net cash provided by operating activities-    
Depreciation and amortization 41,764 51,056
(Gain) loss on sale of property and equipment, net (57) 28
Stock-based compensation expense related to employee stock options and employee stock purchases 8,836 7,893
Provision for deferred income tax expense 150 755
Change in accounts receivable, net (10,214) (7,140)
Change in inventories (106,323) 5,706
Change in prepaid expenses and other, net (934) (2,103)
Change in trade accounts payable 19,788 12,912
Draws on floor plan notes payable – trade, net 3,140 35,380
Change in customer deposits (11,745) 38
Change in accrued expenses (21,233) (7,900)
Other, net 469
Net cash (used in) provided by operating activities (39,255) 117,664
Cash flows from investing activities:    
Acquisition of property and equipment (59,853) (48,215)
Proceeds from the sale of property and equipment 168 2,231
Business acquisitions (7,936)
Purchase of equity method investment and call option (22,567)
Other 948 (1,098)
Net cash used in investing activities (89,240) (47,082)
Cash flows from financing activities:    
Draws (payments) on floor plan notes payable – non-trade, net 85,314 (8,410)
Proceeds from long-term debt 37,858 32,137
Proceeds from line of credit 75,000
Principal payments on long-term debt (43,024) (46,278)
Principal payments on capital lease obligations (2,408) (3,224)
Issuance of shares relating to employee stock options and employee stock purchases 597 501
Payments of cash dividends (4,380)
Common stock repurchased (25,616) (38,137)
Net cash provided by (used in) financing activities 123,341 (63,411)
Net decrease in cash and cash equivalents (5,154) 7,171
Cash and cash equivalents, beginning of period 131,726 124,541
Cash and cash equivalents, end of period 126,572 131,712
Supplemental disclosure of cash flow information:    
Interest 13,612 9,943
Income taxes paid, net $ 6,589 $ 1,500