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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash Flows from Operating Activities:    
Net income $ 38,006 $ 42,708
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 50,559 47,663
Provision for doubtful accounts 138 833
Share-based compensation 3,597 3,224
Gain on sale of used rental equipment (11,870) (9,602)
Foreign currency exchange loss 57 319
Amortization of debt issuance costs 6 5
Change in:    
Accounts receivable (5,494) 1,326
Prepaid expenses and other assets (9,385) (1,641)
Accounts payable and accrued liabilities 17,642 6,389
Deferred income 7,458 5,815
Deferred income taxes 7,268 483
Net cash provided by operating activities 97,982 97,522
Cash Flows from Investing Activities:    
Purchases of rental equipment (58,902) (57,564)
Purchases of property, plant and equipment (2,272) (6,893)
Cash paid for acquisition of businesses (284,341)  
Proceeds from sales of used rental equipment 24,674 21,921
Net cash used in investing activities (320,841) (42,536)
Cash Flows from Financing Activities:    
Net borrowing (repayment) under bank lines of credit 189,983 (21,288)
Borrowing under private placement 60,000  
Repurchase of common stock   (13,501)
Taxes paid related to net share settlement of stock awards (4,828) (2,340)
Payment of dividends (21,089) (19,526)
Net cash provided by (used in) financing activities 224,066 (56,655)
Effect of foreign currency exchange rate changes on cash (33) 21
Net increase (decrease) in cash 1,174 (1,648)
Cash balance, beginning of period 1,238 2,342
Cash balance, end of period 2,412 694
Supplemental Disclosure of Cash Flow Information:    
Interest paid, during the period 3,987 5,031
Net income taxes paid, during the period 6,990 2,153
Dividends accrued during the period, not yet paid 9,918 10,255
Rental equipment acquisitions, not yet paid $ 8,502 $ 6,654