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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash Flows from Operating Activities:    
Net income $ 17,398 $ 20,159
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 23,460 23,862
Provision for doubtful accounts 99 552
Share-based compensation 1,777 1,723
Gain on sale of used rental equipment (4,794) (4,788)
Foreign currency exchange loss 55 436
Amortization of debt issuance costs 3 3
Change in:    
Accounts receivable 1,009 1,713
Prepaid expenses and other assets (94) 363
Accounts payable and accrued liabilities (2,633) (6,383)
Deferred income 4,587 6,943
Deferred income taxes (3,258) 1,099
Net cash provided by operating activities 37,609 45,682
Cash Flows from Investing Activities:    
Purchases of rental equipment (17,984) (35,374)
Purchases of property, plant and equipment (981) (3,196)
Proceeds from sales of used rental equipment 10,418 10,356
Net cash used in investing activities (8,547) (28,214)
Cash Flows from Financing Activities:    
Net repayment under bank lines of credit (13,931) (1,890)
Repurchase of common stock   (7,852)
Taxes paid related to net share settlement of stock awards (3,482) (401)
Payment of dividends (10,554) (9,369)
Net cash used in financing activities (27,967) (19,512)
Effect of foreign currency exchange rate changes on cash (4) 44
Net (decrease) increase in cash 1,091 (2,000)
Cash balance, beginning of period 1,238 2,342
Cash balance, end of period 2,329 342
Supplemental Disclosure of Cash Flow Information:    
Interest paid, during the period 1,625 2,859
Net income taxes paid, during the period 372 363
Dividends accrued during the period, not yet paid 9,810 10,218
Rental equipment acquisitions, not yet paid $ 11,095 $ 6,537