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
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 71,100 $ 192,100
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization of property and equipment 61,300 55,200
Debt issuance cost amortization 3,200 2,300
Stock-based compensation expense 10,400 13,100
Deferred income taxes (6,700) (7,400)
Asset impairment charges 62,600 0
Loss (gain) on disposal of dealerships and property and equipment (20,200) (1,200)
Other 800 700
Changes in assets and liabilities that relate to operations:    
Receivables 62,400 58,800
Inventories (245,700) 29,800
Other assets (16,200) 1,600
Notes payable - floor plan - trade 9,500 (12,300)
Trade accounts payable and other liabilities (11,400) (26,400)
Total adjustments (90,000) 114,200
Net cash provided by (used in) operating activities (18,900) 306,300
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of businesses, net of cash acquired (75,100) (28,400)
Purchases of land, property and equipment (75,500) (100,400)
Proceeds from sales of property and equipment 5,100 10,000
Proceeds from sales of dealerships 52,300 0
Net cash provided by (used in) investing activities (93,200) (118,800)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net (repayments) borrowings on notes payable - floor plan - non-trade (172,900) (24,900)
Debt issuance costs 1,600 (300)
Principal payments and repurchase of long-term debt (63,100) (24,700)
Purchases of treasury stock (90,700) (93,100)
Finance Lease, Principal Payments 4,700 3,100
Issuance of shares under stock compensation plans 10,000 1,300
Dividends paid (20,200) (15,000)
Net cash provided by (used in) financing activities 2,600 (159,800)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (109,500) 27,700
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 229,200 299,400
CASH AND CASH EQUIVALENTS, END OF PERIOD 119,700 327,100
Cash paid (received) during the period for:    
Interest, including amount capitalized 84,200 52,600
Income taxes $ 46,500 $ 59,000