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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash Flows from Operating Activities:    
Net income $ 70,405 $ 55,157
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 65,960 60,896
Impairment of rental assets   39
Provision for doubtful accounts 655 297
Share-based compensation 4,096 2,810
Gain on sale of used rental equipment (15,168) (15,044)
Foreign currency exchange loss 46 505
Amortization of debt issuance costs 8 18
Change in:    
Accounts receivable (16,929) (9,514)
Prepaid expenses and other assets (11,734) (10,195)
Accounts payable and accrued liabilities 19,304 148
Deferred income 10,946 8,741
Deferred income taxes 9,280 2,982
Net cash provided by operating activities 136,869 96,840
Cash Flows from Investing Activities:    
Purchases of rental equipment (127,243) (84,658)
Purchases of property, plant and equipment (6,845) (12,521)
Cash paid for acquisition of business assets (7,401) (7,543)
Proceeds from sales of used rental equipment 30,844 30,067
Net cash used in investing activities (110,645) (74,655)
Cash Flows from Financing Activities:    
Net borrowings under bank lines of credit 2,897 25,575
Principal payments on Series A senior notes   (20,000)
Taxes paid related to net share settlement of stock awards (1,864) (3,004)
Payment of dividends (26,432) (22,719)
Net cash used in financing activities (25,399) (20,148)
Effect of foreign currency exchange rate changes on cash (43) (139)
Net increase in cash 782 1,898
Cash balance, beginning of period 1,508 2,501
Cash balance, end of period 2,290 4,399
Supplemental Disclosure of Cash Flow Information:    
Interest paid, during the period 9,359 9,193
Net income taxes paid, during the period 10,030 16,055
Dividends accrued during the period, not yet paid 9,241 8,349
Rental equipment acquisitions, not yet paid $ 9,450 $ 9,643