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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net earnings $ 17,360 $ 16,188
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:    
Depreciation and amortization 4,779 4,964
Reserve for credit losses 787 351
Share-based compensation expense 1,885 1,919
Deferred taxes 1 (3)
Payments from lessees directly to lenders-operating leases (8) (22)
Gain on disposal of property, equipment, and operating lease equipment (25) (203)
Changes in:    
Accounts receivable (14,880) (69,281)
Inventories-net (43,038) (7,774)
Financing receivables-net (24,745) (58,198)
Deferred costs and other assets 4,973 (14,379)
Accounts payable-trade 53,675 21,089
Salaries and commissions payable, deferred revenue, and other liabilities 5,630 17,955
Net cash provided by (used in) operating activities 6,394 (87,394)
Cash flows from investing activities:    
Proceeds from sale of property, equipment, and operating lease equipment 118 292
Purchases of property, equipment, and operating lease equipment (2,277) (1,518)
Net cash used in investing activities (2,159) (1,226)
Cash flows from financing activities:    
Borrowings of non-recourse and recourse notes payable 10,332 41,394
Repayments of non-recourse and recourse notes payable (1,874) (3,414)
Repurchase of common stock (2,703) (13,318)
Repayments of financing of acquisitions 0 (265)
Net borrowings on floor plan facility 48,285 19,930
Net cash provided by financing activities 54,040 44,327
Effect of exchange rate changes on cash (124) 81
Net increase (decrease) in cash and cash equivalents 58,151 (44,212)
Cash and cash equivalents, beginning of period 86,231 79,816
Cash and cash equivalents, end of period 144,382 35,604
Supplemental disclosures of cash flow information:    
Cash paid for interest 558 595
Cash paid for income taxes 193 5,616
Cash paid for amounts included in the measurement of lease liabilities 1,503 1,081
Schedule of non-cash investing and financing activities:    
Purchases of property, equipment, and operating lease equipment (237) (1,947)
Borrowing of non-recourse and recourse notes payable 22,824 30,046
Repayments of non-recourse and recourse notes payable (8) (22)
Vesting of share-based compensation 7,472 7,774
Repurchase of common stock 0 (137)
New operating lease assets obtained in exchange for lease obligations $ 726 $ 1,291