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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net income $ 23,107 $ 37,104
Adjustments to reconcile net income to net cash provided by operating activities-    
Depreciation and amortization 45,192 41,764
Gain on sale of property and equipment, net (100) (57)
Stock-based compensation expense related to employee stock options and employee stock purchases 8,553 8,836
Provision for deferred income tax expense (7,160) 150
Change in accounts receivable, net (30,893) (10,214)
Change in inventories 153,569 (106,323)
Change in prepaid expenses and other, net 6,002 (934)
Change in trade accounts payable (11,673) 19,788
(Payments) draws on floor plan notes payable – trade, net (15,077) 3,140
Change in customer deposits (16,701) (11,745)
Change in accrued expenses (15,257) (21,233)
Other, net (747) 469
Net cash (used in) provided by operating activities 138,815 (39,255)
Cash flows from investing activities:    
Acquisition of property and equipment (49,489) (59,853)
Proceeds from the sale of property and equipment 172 168
Business acquisitions   (7,936)
Purchase of equity method investment and call option   (22,567)
Other 1,984 948
Net cash used in investing activities (47,333) (89,240)
Cash flows from financing activities:    
(Payments) draws on floor plan notes payable – non-trade, net (92,579) 85,314
Proceeds from long-term debt 28,226 37,858
Proceeds from line of credit   75,000
Principal payments on long-term debt (45,450) (43,024)
Principal payments on finance lease obligations (2,012) (2,408)
Proceeds from issuance of shares relating to employee stock options and employee stock purchases 909 597
Payments of cash dividends (4,754) (4,380)
Common stock repurchased (19,902) (25,616)
Net cash provided by (used in) financing activities (135,562) 123,341
Net decrease in cash and cash equivalents (44,080) (5,154)
Cash and cash equivalents, beginning of period 181,620 131,726
Cash and cash equivalents, end of period 137,540 126,572
Supplemental disclosure of cash flow information:    
Interest 12,556 13,612
Income taxes paid (refunded), net (2) 6,589
Noncash investing and financing activities:    
Assets acquired under finance leases $ 12,673 $ 5,750