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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 54,222 $ (199,333)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization of property and equipment 22,202 21,540
Provision for bad debt expense 91 134
Debt issuance cost amortization 823 557
Stock-based compensation expense 3,484 2,427
Deferred income taxes (2,915) (53,999)
Net distributions from equity investee 171 448
Asset impairment charges 0 268,000
Loss (gain) on disposal of dealerships and property and equipment (25) (39)
Changes in assets and liabilities that relate to operations:    
Receivables (1,943) 231,732
Inventories 16,530 (90,342)
Other assets 9,628 (89,114)
Notes payable - floor plan - trade (46,457) (33,579)
Trade accounts payable and other liabilities 34,419 (105,630)
Total adjustments 36,008 152,135
Net cash provided by (used in) operating activities 90,230 (47,198)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of businesses, net of cash acquired (8,817) 0
Purchases of land, property and equipment (67,663) (19,805)
Proceeds from sales of property and equipment 912 194
Proceeds from sales of dealerships 0 0
Net cash provided by (used in) investing activities (75,568) (19,611)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net (repayments) borrowings on notes payable - floor plan - non-trade 51,469 41,223
Borrowings on revolving credit facilities 4,906 460,916
Repayments on revolving credit facilities (4,906) (250,916)
Debt issuance costs 25 (24)
Principal payments and repurchase of long-term debt (8,968) (5,777)
Purchases of treasury stock (42,167) (21,286)
Finance Lease, Principal Payments 930 337
Issuance of shares under stock compensation plans 0 1
Dividends paid (4,183) (4,314)
Net cash provided by (used in) financing activities (107,742) 219,486
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (93,080) 152,677
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 170,313 29,103
CASH AND CASH EQUIVALENTS, END OF PERIOD 77,233 181,780
Cash paid (received) during the period for:    
Interest, including amount capitalized 19,140 25,359
Income taxes $ (382) $ 3

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