Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 47,700 $ 97,300
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization of property and equipment 30,000 27,000
Debt issuance cost amortization 1,600 1,100
Stock-based compensation expense 5,000 4,500
Deferred income taxes (3,300) (3,200)
Other 700 (200)
Changes in assets and liabilities that relate to operations:    
Receivables 87,500 53,400
Inventories (234,600) 72,200
Other assets 4,200 (11,800)
Notes payable - floor plan - trade 4,200 (16,000)
Trade accounts payable and other liabilities 23,000 28,200
Total adjustments (81,700) 155,200
Net cash provided by (used in) operating activities (34,000) 252,500
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of businesses, net of cash acquired (75,100) (28,400)
Purchases of land, property and equipment (37,200) (58,800)
Proceeds from sales of property and equipment 4,800 6,900
Net cash provided by (used in) investing activities (107,500) (80,300)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net (repayments) borrowings on notes payable - floor plan - non-trade (188,800) (56,300)
Debt issuance costs 1,300 (200)
Principal payments and repurchase of long-term debt (19,500) (15,800)
Purchases of treasury stock (90,700) (33,700)
Finance Lease, Principal Payments 2,200 900
Issuance of shares under stock compensation plans 7,600 400
Dividends paid (10,200) (4,900)
Net cash provided by (used in) financing activities 72,500 (111,400)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (69,000) 60,800
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 229,200 299,400
CASH AND CASH EQUIVALENTS, END OF PERIOD 160,200 360,200
Cash paid (received) during the period for:    
Interest, including amount capitalized 26,500 10,700
Income taxes $ (400) $ 100