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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:    
Net earnings $ 58,844 $ 55,836
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:    
Depreciation and amortization 13,762 15,217
Reserve for credit losses 1,920 504
Share-based compensation expense 5,427 6,019
Deferred taxes 1,033 (3)
Payments from lessees directly to lenders-operating leases (25) (44)
Gain on disposal of property, equipment, and operating lease equipment (408) (614)
Changes in:    
Accounts receivable (67,989) (102,093)
Inventories-net (28,340) (10,429)
Financing receivables-net (67,112) (87,633)
Deferred costs and other assets (15,865) (18,424)
Accounts payable-trade 70,726 33,574
Salaries and commissions payable, deferred revenue, and other liabilities 33,271 33,362
Net cash provided by (used in) operating activities 5,244 (74,728)
Cash flows from investing activities:    
Proceeds from sale of property, equipment, and operating lease equipment 670 1,404
Purchases of property, equipment and operating lease equipment (4,227) (7,209)
Cash used in acquisitions, net of cash acquired (27,102) (14,239)
Net cash used in investing activities (30,659) (20,044)
Cash flows from financing activities:    
Borrowings of non-recourse and recourse notes payable 31,698 75,557
Repayments of non-recourse and recourse notes payable (41,870) (9,854)
Repurchase of common stock (6,948) (13,692)
Repayments of financing of acquisitions (556) (5,763)
Net borrowings on floor plan facility 44,058 28,400
Net cash provided by financing activities 26,382 74,648
Effect of exchange rate changes on cash (735) (137)
Net increase (decrease) in cash and cash equivalents 232 (20,261)
Cash and cash equivalents, beginning of period 86,231 79,816
Cash and cash equivalents, end of period 86,463 59,555
Supplemental disclosures of cash flow information:    
Cash paid for interest 929 1,721
Cash paid for income taxes 21,257 19,519
Cash paid for amounts included in the measurement of lease liabilities 4,460 4,113
Schedule of non-cash investing and financing activities:    
Purchases of property, equipment, and operating lease equipment (221) (425)
Consideration for acquisitions 0 (1,037)
Borrowing of non-recourse and recourse notes payable 77,289 111,234
Repayments of non-recourse and recourse notes payable (25) (44)
Vesting of share-based compensation 7,926 8,990
New operating lease assets obtained in exchange for lease obligations $ 1,097 $ 6,035