Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

v3.22.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 97,300 $ 54,200
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization of property and equipment 27,000 22,200
Debt issuance cost amortization 1,100 800
Stock-based compensation expense 4,500 3,500
Deferred income taxes (3,200) (2,900)
Other (200) 400
Changes in assets and liabilities that relate to operations:    
Receivables 53,400 (1,900)
Inventories 72,200 16,500
Other assets (11,800) 9,600
Notes payable - floor plan - trade (16,000) (46,500)
Trade accounts payable and other liabilities 28,200 34,400
Total adjustments 155,200 36,100
Net cash provided by (used in) operating activities 252,500 90,300
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of businesses, net of cash acquired (28,400) (8,800)
Purchases of land, property and equipment (58,800) (67,700)
Proceeds from sales of property and equipment 6,900 900
Net cash provided by (used in) investing activities (80,300) (75,600)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net (repayments) borrowings on notes payable - floor plan - non-trade 56,300 (51,500)
Borrowings on revolving credit facilities 0 4,900
Repayments on revolving credit facilities 0 (4,900)
Debt issuance costs 200 0
Principal payments and repurchase of long-term debt (15,800) (9,000)
Purchases of treasury stock (33,700) (42,200)
Finance Lease, Principal Payments 900 900
Issuance of shares under stock compensation plans 400 0
Dividends paid (4,900) (4,200)
Net cash provided by (used in) financing activities (111,400) (107,800)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 60,800 (93,100)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 299,400 170,300
CASH AND CASH EQUIVALENTS, END OF PERIOD 360,200 77,200
Cash paid (received) during the period for:    
Interest, including amount capitalized 10,700 19,100
Income taxes $ 100 $ (400)