XML 17 R6.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net income $ 103,377 $ 39,923
Adjustments to reconcile net income to net cash provided by operating activities-    
Depreciation and amortization 84,891 89,897
Gain on sale of property and equipment, net (256) (1,481)
Stock-based compensation expense related to employee equity awards and employee stock purchases 15,203 12,139
Deferred income tax expense (14,602) (10,437)
Change in accounts and notes receivable, net 12,046 21,027
Change in inventories, net 76,772 358,945
Change in prepaid expenses and other, net (1,255) 5,246
Change in trade accounts payable 12,376 (36,147)
Payments on floor plan notes payable – trade, net   (32,609)
Change in customer deposits (23,725) (25,086)
Change in accrued expenses (26,243) (1,207)
Other, net (881) (2,000)
Net cash provided by operating activities 237,703 418,210
Cash flows from investing activities:    
Acquisition of property and equipment (84,352) (82,236)
Proceeds from the sale of property and equipment 327 5,342
Other 1,146 2,515
Net cash used in investing activities (82,879) (74,379)
Cash flows from financing activities:    
Payments on floor plan notes payable – non-trade, net (40,909) (238,781)
Proceeds from long-term debt 52,325 119,348
Principal payments on long-term debt (129,221) (160,704)
Principal payments on finance lease obligations (6,361) (5,768)
Proceeds from issuance of shares relating to employee stock options and employee stock purchases 3,945 5,412
Payments of cash dividends (19,922) (9,500)
Common stock repurchased (10,818) (19,902)
Net cash used in financing activities (150,961) (309,895)
Net increase in cash and cash equivalents 3,863 33,936
Cash and cash equivalents, beginning of period 312,048 181,620
Cash and cash equivalents, end of period 315,911 215,556
Supplemental disclosure of cash flow information:    
Interest 13,213 22,559
Income taxes, net of refunds 67,766 165
Noncash activities:    
Assets acquired under finance leases $ 15,019 $ 26,492