XML 17 R6.htm IDEA: XBRL DOCUMENT v3.24.2.u1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 9,348 $ 874
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 14,792 12,583
Amortization of debt issuance costs 315 184
Deferred income tax expense 2,654 396
Stock-based compensation 516 1,617
Provision from credit losses 287 128
Impairment expense 0 779
Gain on sale of assets (229) (206)
Retirement of rental equipment 5 0
Gain on company owned life insurance (173) (80)
Changes in operating assets and liabilities:    
Trade accounts receivables 5,898 (6,332)
Inventory 1,149 (4,438)
Prepaid expenses and prepaid income taxes (825) (301)
Accounts payable and accrued liabilities (2,575) 16,888
Deferred income (418) (37)
Other 375 588
NET CASH PROVIDED BY OPERATING ACTIVITIES 31,119 22,643
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of rental equipment, property and other equipment (28,262) (93,479)
Purchase of company owned life insurance (17) (329)
Proceeds from sale of property and equipment 355 231
Proceeds from surrender of company owned life insurance 43 0
NET CASH USED IN INVESTING ACTIVITIES (27,881) (93,577)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from loan 8,000 75,011
Repayment of loan (9,000) 0
Payments of other long-term liabilities, net (385) (50)
Payments of debt issuance costs (885) (2,131)
Taxes paid related to net share settlement of equity awards (98) (982)
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES (2,368) 71,848
NET CHANGE IN CASH AND CASH EQUIVALENTS 870 914
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 2,746 3,372
CASH AND CASH EQUIVALENTS AT END OF PERIOD 3,616 4,286
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Interest paid 10,458 1,966
NON-CASH TRANSACTIONS    
Transfer of rental equipment to inventory 0 708
Right of use asset acquired through a finance lease $ 1,751 $ 63