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CONDENSED 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 (loss) $ 168,067 $ (168,542)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization of property and equipment 45,392 43,462
Provision for bad debt expense 348 345
Debt issuance cost amortization 1,658 1,182
Stock-based compensation expense 7,473 5,397
Deferred income taxes (5,962) (60,035)
Net distributions from equity investee (262) 465
Asset impairment charges 0 268,833
Loss (gain) on disposal of dealerships and property and equipment (490) 2,364
Changes in assets and liabilities that relate to operations:    
Receivables 14,467 139,305
Inventories 240,233 341,340
Other assets 10,514 (45,013)
Notes payable - floor plan - trade (552,447) (257,660)
Trade accounts payable and other liabilities 36,351 (43,695)
Total adjustments (202,725) 396,290
Net cash provided by (used in) operating activities (34,658) 227,748
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of businesses, net of cash acquired (28,595) 0
Purchases of land, property and equipment (105,091) (61,733)
Proceeds from sales of property and equipment 739 163
Proceeds from sales of dealerships 3,798 (886)
Net cash provided by (used in) investing activities (129,149) (62,456)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net (repayments) borrowings on notes payable - floor plan - non-trade (314,306) (64,121)
Borrowings on revolving credit facilities 4,906 460,916
Repayments on revolving credit facilities (4,906) (460,916)
Proceeds from issuance of long-term debt 0 53,135
Debt issuance costs 4,638 (1,252)
Principal payments and repurchase of long-term debt (30,693) (10,423)
Purchases of treasury stock (42,213) (27,808)
Finance Lease, Principal Payments 2,106 19,620
Issuance of shares under stock compensation plans 6,765 1
Dividends paid (8,310) (8,583)
Net cash provided by (used in) financing activities 233,111 (78,671)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 69,304 86,621
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 170,313 29,103
CASH AND CASH EQUIVALENTS, END OF PERIOD 239,617 115,724
Cash paid (received) during the period for:    
Interest, including amount capitalized 29,635 34,939
Income taxes $ 54,377 $ 79

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