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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash Flows from Operating Activities:    
Net income $ 75,497 $ 61,258
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 83,272 79,047
Deferred income taxes (4,299) 15,403
Provision for doubtful accounts 307 193
Share-based compensation 5,106 5,302
Gain on sale of used rental equipment (26,705) (17,788)
Foreign currency exchange loss 404 185
Amortization of debt issuance costs 13 11
Change in:    
Accounts receivable (30,767) (33,471)
Prepaid expenses and other assets (17,313) (11,409)
Accounts payable and accrued liabilities 14,384 17,428
Deferred income 33,399 20,128
Net cash provided by operating activities 133,298 136,287
Cash Flows from Investing Activities:    
Purchases of rental equipment (130,395) (90,379)
Purchases of property, plant and equipment (10,594) (969)
Cash paid for acquisition of businesses   (285,624)
Proceeds from sales of used rental equipment 54,193 41,556
Net cash used in investing activities (86,796) (335,416)
Cash Flows from Financing Activities:    
Net (payments) borrowings under bank lines of credit (7,000) 176,758
Borrowings under note purchase agreement   100,000
Principal payment of Series B senior notes   (40,000)
Taxes paid related to net share settlement of stock awards (6,253) (4,847)
Payment of dividends (33,175) (31,635)
Net cash (used in) provided by financing activities (46,428) 200,276
Effect of foreign currency exchange rate changes on cash (4) (5)
Net increase in cash 70 1,142
Cash balance, beginning of period 1,491 1,238
Cash balance, end of period 1,561 2,380
Supplemental Disclosure of Cash Flow Information:    
Interest paid, during the period 8,982 6,477
Net income taxes paid, during the period 24,885 8,074
Dividends accrued during the period, not yet paid 11,167 10,002
Rental equipment acquisitions, not yet paid $ 9,555 $ 2,199