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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ (168,542) $ 68,821
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization of property and equipment 43,462 44,884
Provision for bad debt expense 345 205
Debt issuance cost amortization 1,182 1,189
Stock-based compensation expense 5,397 5,426
Deferred income taxes (60,035) (5,560)
Net distributions from equity investee 465 205
Asset impairment charges 268,833 1,952
Loss (gain) on disposal of dealerships and property and equipment 2,364 (46,065)
Loss (gain) on exit of leased dealerships 0 (170)
Changes in assets and liabilities that relate to operations:    
Receivables 139,305 82,537
Inventories 341,340 (31,566)
Other assets (45,013) (65,637)
Notes payable - floor plan - trade (257,660) (67,835)
Trade accounts payable and other liabilities (43,695) (45,245)
Total adjustments 396,290 (125,680)
Net cash provided by (used in) operating activities 227,748 (56,859)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of land, property and equipment (61,733) (51,234)
Proceeds from sales of property and equipment 163 2,301
Proceeds from sales of dealerships (886) 121,337
Net cash provided by (used in) investing activities (62,456) 72,404
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net (repayments) borrowings on notes payable - floor plan - non-trade 64,121 1,643
Borrowings on revolving credit facilities 460,916 303,235
Repayments on revolving credit facilities (460,916) (303,235)
Debt issuance costs 1,252 2
Principal payments and repurchase of long-term debt (10,423) (11,715)
Purchases of treasury stock (27,808) (2,381)
Finance Lease, Principal Payments 19,620 0
Issuance of shares under stock compensation plans 1 59
Dividends paid (8,583) (6,867)
Net cash provided by (used in) financing activities (78,671) (19,259)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 86,621 (3,714)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 29,103 5,854
CASH AND CASH EQUIVALENTS, END OF PERIOD 115,724 2,140
SUPPLEMENTAL SCHEDULE OF NON-CASH FINANCING ACTIVITIES:    
Change in fair value of interest rate swap and interest rate cap agreements (net of tax expense of $1,563 and $1,099 in the nine months ended September 30, 2018 and 2017, respectively) (527) (3,273)
Cash paid (received) during the period for:    
Interest, including amount capitalized 34,939 53,143
Income taxes $ 79 $ 41,305

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