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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash Flows from Operating Activities:    
Net income $ 37,937 $ 30,378
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 43,087 40,288
Impairment of rental assets   39
Provision for doubtful accounts 371 181
Share-based compensation 2,746 1,828
Gain on sale of used rental equipment (9,168) (9,875)
Foreign currency exchange (gain) loss (86) 376
Amortization of debt issuance costs 5 15
Change in:    
Accounts receivable (373) 596
Prepaid expenses and other assets (21,246) (14,938)
Accounts payable and accrued liabilities 18,468 (365)
Deferred income 16,909 4,854
Deferred income taxes 3,337 388
Net cash provided by operating activities 91,987 53,765
Cash Flows from Investing Activities:    
Purchases of rental equipment (90,701) (58,662)
Purchases of property, plant and equipment (3,961) (6,417)
Proceeds from sales of used rental equipment 18,280 19,212
Net cash used in investing activities (76,382) (45,867)
Cash Flows from Financing Activities:    
Net borrowings under bank lines of credit 3,309 31,431
Principal payments on Series A senior notes   (20,000)
Taxes paid related to net share settlement of stock awards (1,563) (2,792)
Payment of dividends (17,337) (14,501)
Net cash used in financing activities (15,591) (5,862)
Effect of foreign currency exchange rate changes on cash (26) (53)
Net increase (decrease) in cash (12) 1,983
Cash balance, beginning of period 1,508 2,501
Cash balance, end of period 1,496 4,484
Supplemental Disclosure of Cash Flow Information:    
Interest paid, during the period 6,210 6,123
Net income taxes paid, during the period 6,173 11,675
Dividends accrued during the period, not yet paid 9,163 8,267
Rental equipment acquisitions, not yet paid $ 8,930 $ 7,201