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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net earnings $ 23,518 $ 17,360
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:    
Depreciation and amortization 6,082 4,779
Reserve for credit losses (261) 787
Share-based compensation expense 1,735 1,885
Deferred taxes 0 1
Payments from lessees directly to lenders-operating leases (32) (8)
Gain on disposal of property, equipment, and operating lease equipment (148) (25)
Changes in:    
Accounts receivable (68,641) (14,880)
Inventories-net (7,800) (43,038)
Financing receivables-net 193 (24,745)
Deferred costs and other assets 61 4,973
Accounts payable-trade (15,393) 53,675
Salaries and commissions payable, deferred revenue, and other liabilities (4,450) 5,630
Net cash provided by (used in) operating activities (65,136) 6,394
Cash flows from investing activities:    
Proceeds from sale of property, equipment, and operating lease equipment 843 118
Purchases of property, equipment and operating lease equipment (6,994) (2,277)
Net cash used in investing activities (6,151) (2,159)
Cash flows from financing activities:    
Borrowings of non-recourse and recourse notes payable 3,199 10,332
Repayments of non-recourse and recourse notes payable (4,819) (1,874)
Repurchase of common stock (3,807) (2,703)
Net borrowings (repayments) on floor plan facility 40,921 48,285
Net cash provided by financing activities 35,494 54,040
Effect of exchange rate changes on cash 71 (124)
Net increase (decrease) in cash and cash equivalents (35,722) 58,151
Cash and cash equivalents, beginning of period 129,562 86,231
Cash and cash equivalents, end of period 93,840 144,382
Supplemental disclosures of cash flow information:    
Cash paid for interest 519 558
Cash paid for income taxes 7,275 193
Cash paid for amounts included in the measurement of lease liabilities 1,182 1,503
Schedule of non-cash investing and financing activities:    
Proceeds from sale of property, equipment, and leased equipment 978 0
Purchases of property, equipment, and operating lease equipment (2,619) (237)
Borrowing of non-recourse and recourse notes payable 0 22,824
Repayments of non-recourse and recourse notes payable (32) (8)
Vesting of share-based compensation 7,493 7,472
Repurchase of common stock (304) 0
New operating lease assets obtained in exchange for lease obligations $ 0 $ 726