XML 16 R5.htm IDEA: XBRL DOCUMENT v3.19.2
CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating activities:    
Net income $ 15,846 $ 12,248
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation expense 494 402
Provision for loan loss—consumer loans 1,449 302
Deferred income taxes   1,705
Share based payment expense 422  
Changes in operating assets and liabilities:    
Accounts receivable (535) 1,252
Consumer loans originations (9,789) (9,011)
Consumer loans principal collections 4,128 4,434
Notes receivable MHP originations (29,079) (17,683)
Notes receivable MHP principal collections 15,016 11,053
Inventories 4,419 (2,146)
Prepaid expenses and other current assets 388 (1,077)
Other assets (1,248) 522
Accounts payable 934 (1,931)
Accrued liabilities 1,449 3,898
Customer deposits (625) (648)
Dealer incentive liability 72 (364)
Net cash provided by operating activities 3,341 2,956
Investing activities:    
Purchases of property, plant and equipment (1,454) (4,708)
Issuance of notes receivable (1,531) (1,010)
Notes receivable collections 522 707
Purchases of consumer loans (101) (48)
Collections from purchased consumer loans 364 146
Net cash used in investing activities (2,200) (4,913)
Financing activities:    
Proceeds from sale of over-allotment common stock in initial public offering 7,200  
Offering cost for over-allotment of initial public offering (505)  
Treasury stock purchase (3,060)  
Escrow liability 106 121
Principal payments on note payable (504) (111)
Proceeds from lines of credit 26,284 30,805
Payments on lines of credit (30,839) (28,514)
Net cash provided by (used in) financing activities (1,318) 2,301
Net increase (decrease) in cash and cash equivalents (177) 344
Cash and cash equivalents at beginning of period 2,599 428
Cash and cash equivalents at end of period 2,422 772
Supplemental disclosure of cash flow information:    
Cash paid for interest 405 1,223
Cash paid for taxes $ 3,051 $ 1,100