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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net income (loss) $ 80.0 $ (1.7)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation of rental equipment 201.5 201.8
Depreciation of property and equipment 26.9 27.7
Amortization of intangible assets 4.9 3.8
Amortization of deferred debt and financing obligations costs 1.6 1.7
Stock-based compensation charges 12.4 4.9
Impairment 0.4 9.5
Provision for receivables allowances 14.3 23.5
Deferred taxes 16.3 1.0
(Gain) loss on sale of rental equipment (11.4) 0.6
Other 1.9 5.7
Changes in assets and liabilities:    
Receivables (27.8) 32.3
Other assets 0.2 (2.6)
Accounts payable 6.2 (16.1)
Accrued liabilities and other long-term liabilities 0.5 (11.7)
Net cash provided by operating activities 327.9 280.4
Cash flows from investing activities:    
Rental equipment expenditures (239.3) (161.5)
Proceeds from disposal of rental equipment 71.0 67.9
Non-rental capital expenditures (20.9) (25.5)
Proceeds from disposal of property and equipment 2.4 2.2
Acquisitions (17.9) 0.0
Proceeds from disposal of business 0.0 15.3
Net cash used in investing activities (204.7) (101.6)
Cash flows from financing activities:    
Proceeds from revolving lines of credit and securitization 165.0 388.0
Repayments on revolving lines of credit and securitization (275.0) (507.7)
Principal payments under capital lease and financing obligations (6.7) (7.4)
Proceeds from exercise of stock options 1.7 0.0
Proceeds from employee stock purchase plan 1.2 1.2
Net settlement on vesting of equity awards (8.2) (2.8)
Net cash used in financing activities (122.0) (128.7)
Effect of foreign exchange rate changes on cash and cash equivalents 0.4 0.1
Net increase in cash and cash equivalents during the period 1.6 50.2
Cash and cash equivalents cash at beginning of period 33.0 33.0
Cash and cash equivalents at end of period 34.6 83.2
Supplemental disclosure of cash flow information:    
Cash paid for interest 40.8 47.6
Cash paid for income taxes, net 10.8 2.6
Supplemental disclosure of non-cash investing activity:    
Purchases of rental equipment in accounts payable 63.9 33.9
Note receivable on disposals $ 0.0 $ 8.9