XML 18 R6.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 3,685,000 $ (12,154,000)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 18,859,000 17,217,000
Deferred income taxes 233,000 (1,177,000)
Stock-based compensation 1,628,000 1,780,000
Bad debt allowance 287,000 55,000
Inventory allowance 0 3,350,000
Impairment of goodwill 0 10,039,000
Gain on sale of assets (284,000) (37,000)
Retirement of rental equipment 0 1,512,000
Loss (gain) on company owned life insurance 19,000 (145,000)
Changes in operating assets and liabilities:    
Trade accounts receivables (1,565,000) (4,060,000)
Inventory 3,793,000 3,798,000
Federal income tax receivable (11,083,000) 0
Prepaid expenses and prepaid income taxes (86,000) (72,000)
Accounts payable and accrued liabilities 2,174,000 1,054,000
Deferred income (57,000) 0
Deferred tax liability increase due to tax law change 10,103,000 0
Other 226,000 125,000
NET CASH PROVIDED BY OPERATING ACTIVITIES 27,932,000 21,285,000
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of rental equipment, property and other equipment (11,964,000) (54,077,000)
Purchase of company owned life insurance (254,000) (207,000)
Proceeds from sale of property and equipment 394,000 26,000
Proceeds from sale of deferred compensation mutual fund 10,000 0
Proceeds from insurance claims of property and equipment 0 11,000
NET CASH USED IN INVESTING ACTIVITIES (11,814,000) (54,247,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from loan 4,601,000 0
Repayment of loan (4,601,000) 0
Payments of other long-term liabilities, net (2,000) (16,000)
Proceeds from exercise of stock options 0 505,000
Purchase of treasury shares 0 (490,000)
Taxes paid related to net share settlement of equity awards (149,000) (183,000)
NET CASH USED IN FINANCING ACTIVITIES (151,000) (184,000)
NET CHANGE IN CASH AND CASH EQUIVALENTS 15,967,000 (33,146,000)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 11,592,000 52,628,000
CASH AND CASH EQUIVALENTS AT END OF PERIOD 27,559,000 19,482,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Interest paid 13,000 43,000
Income taxes paid 95,000 254,000
NON-CASH TRANSACTIONS    
Transfer of rental equipment components to inventory 0 746,000
Transfer of prepaids to rental equipment and inventory 0 958,000
Right of use asset acquired through an operating lease $ 52,000 $ 126,000