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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash Flows from Operating Activities:    
Net income $ 142,605 $ 75,497
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 81,842 83,272
Deferred income taxes (30,018) (4,299)
Provision for credit losses 1,794 307
Share-based compensation 5,273 5,106
Gain on sale of property, plant and equipment (3,559)  
Gain on sale of discontinued operations (61,513)  
Gain on sale of used rental equipment (22,964) (26,705)
Foreign currency exchange (gain) loss (166) 404
Amortization of debt issuance costs 6 13
Change in:    
Accounts receivable (27,733) (30,767)
Prepaid expenses and other assets (7,390) 17,313
Accounts payable and accrued liabilities 32,818 14,384
Deferred income 7,908 33,399
Net cash provided by operating activities 118,903 133,298
Cash Flows from Investing Activities:    
Proceeds from sale of discontinued operations 268,012  
Purchases of rental equipment (171,322) (130,395)
Purchases of property, plant and equipment (16,448) (10,594)
Cash paid for acquisition of businesses (458,315)  
Cash paid for acquisition of business assets (3,474)  
Proceeds from sales of used rental equipment 49,405 54,193
Proceeds from sales of property, plant and equipment 595  
Net cash used in investing activities (331,547) (86,796)
Cash Flows from Financing Activities:    
Net borrowings (payments) under bank lines of credit 178,892 (7,000)
Borrowings under note purchase agreement 75,000  
Taxes paid related to net share settlement of stock awards (6,100) (6,253)
Payment of dividends (34,168) (33,175)
Net cash provided by (used in) financing activities 213,624 (46,428)
Effect of foreign currency exchange rate changes on cash 9 (4)
Net increase in cash 989 70
Cash balance, beginning of period 957 1,491
Cash balance, end of period 1,946 1,561
Supplemental Disclosure of Cash Flow Information:    
Interest paid, during the period 27,818 8,982
Net income taxes paid, during the period 9,547 24,885
Dividends accrued during the period, not yet paid 12,014 11,167
Rental equipment acquisitions, not yet paid 5,765 $ 9,555
Proceeds to be received on the sale of property, plant and equipment 6,370  
Business acquisition payments withheld $ 293