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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net earnings $ 27,339 $ 33,847
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:    
Depreciation and amortization 5,922 5,755
Provision for credit losses 96 478
Share-based compensation expense 2,855 2,205
Loss (gain) on disposal of property, equipment, and operating lease equipment 54 (160)
Changes in:    
Accounts receivable 59,276 (166,803)
Inventories 50,555 300
Financing receivables-net (5,772) (42,071)
Deferred costs and other assets (3,160) 8,303
Accounts payable-trade (45,430) 124,948
Salaries and commissions payable, deferred revenue, and other liabilities 5,392 12,298
Net cash provided by (used in) operating activities 97,127 (20,900)
Cash flows from investing activities:    
Proceeds from sale of property, equipment, and operating lease equipment 61 196
Purchases of property, equipment, and operating lease equipment (1,967) (3,698)
Cash used in acquisitions, net of cash acquired 0 (59,595)
Net cash used in investing activities (1,906) (63,097)
Cash flows from financing activities:    
Borrowings of non-recourse and recourse notes payable 3,737 97,955
Repayments of non-recourse and recourse notes payable (4,467) (41,573)
Proceeds from issuance of common stock 1,811 1,398
Repurchase of common stock (11,569) (7,465)
Payments to settle liabilities for acquisitions (2,307) 0
Net borrowings on floor plan facility 14,407 32,290
Net cash provided by financing activities 1,612 82,605
Effect of exchange rate changes on cash 55 (127)
Net increase (decrease) in cash and cash equivalents 96,888 (1,519)
Cash and cash equivalents, beginning of period 253,021 103,093
Cash and cash equivalents, end of period 349,909 101,574
Supplemental disclosures of cash flow information:    
Cash paid for interest 654 566
Cash paid for income taxes 10,130 3,605
Cash paid for amounts included in the measurement of lease liabilities 1,269 1,261
Schedule of non-cash investing and financing activities:    
Proceeds from sale of property, equipment, and leased equipment 9 15
Purchases of property, equipment, and operating lease equipment (641) (200)
Borrowing of non-recourse and recourse notes payable 6,546 0
Debt derecognized due to sales of financial assets (1,253) (15,857)
Vesting of share-based compensation 10,636 8,483
Repurchase of common stock (366) (28)
New operating lease assets obtained in exchange for lease obligations $ 395 $ 3,100