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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash Flows from Operating Activities:    
Net income $ 70,809 $ 70,405
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 71,249 65,960
Provision for doubtful accounts 1,227 655
Share-based compensation 4,894 4,096
Gain on sale of used rental equipment (14,110) (15,168)
Foreign currency exchange loss 189 46
Amortization of debt issuance costs 8 8
Change in:    
Accounts receivable (2,561) (16,929)
Prepaid expenses and other assets (1,314) (11,734)
Accounts payable and accrued liabilities (582) 19,304
Deferred income 3,591 10,946
Deferred income taxes (1,863) 9,280
Net cash provided by operating activities 131,537 136,869
Cash Flows from Investing Activities:    
Purchases of rental equipment (65,661) (127,243)
Purchases of property, plant and equipment (9,639) (6,845)
Cash paid for acquisition of business assets   (7,401)
Proceeds from sales of used rental equipment 33,837 30,844
Net cash used in investing activities (41,463) (110,645)
Cash Flows from Financing Activities:    
Net (repayment) borrowing under bank lines of credit (43,460) 2,897
Repurchase of common stock (13,617)  
Taxes paid related to net share settlement of stock awards (3,930) (1,864)
Payment of dividends (29,642) (26,432)
Net cash used in financing activities (90,649) (25,399)
Effect of foreign currency exchange rate changes on cash (224) (43)
Net (decrease) increase in cash (799) 782
Cash balance, beginning of period 2,342 1,508
Cash balance, end of period 1,543 2,290
Supplemental Disclosure of Cash Flow Information:    
Interest paid, during the period 6,829 9,359
Net income taxes paid, during the period 24,704 10,030
Dividends accrued during the period, not yet paid 10,355 9,241
Rental equipment acquisitions, not yet paid $ 5,827 $ 9,450