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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash Flows from Operating Activities:    
Net income $ 61,258 $ 70,809
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 79,047 71,249
Provision for doubtful accounts 193 1,227
Share-based compensation 5,302 4,894
Gain on sale of used rental equipment (17,788) (14,110)
Foreign currency exchange loss 185 189
Amortization of debt issuance costs 11 8
Change in:    
Accounts receivable (33,471) (2,561)
Prepaid expenses and other assets (11,409) (1,314)
Accounts payable and accrued liabilities 17,428 (582)
Deferred income 20,128 3,591
Deferred income taxes 15,403 (1,863)
Net cash provided by operating activities 136,287 131,537
Cash Flows from Investing Activities:    
Purchases of rental equipment (90,379) (65,661)
Purchases of property, plant and equipment (969) (9,639)
Cash paid for acquisition of businesses (285,624)  
Proceeds from sales of used rental equipment 41,556 33,837
Net cash used in investing activities (335,416) (41,463)
Cash Flows from Financing Activities:    
Net borrowing (repayment) under bank lines of credit 176,758 (43,460)
Borrowings under note purchase agreement 100,000  
Principal payment of Series B senior notes (40,000)  
Repurchase of common stock   (13,617)
Taxes paid related to net share settlement of stock awards (4,847) (3,930)
Payment of dividends (31,635) (29,642)
Net cash provided by (used in) financing activities 200,276 (90,649)
Effect of foreign currency exchange rate changes on cash (5) (224)
Net increase (decrease) in cash 1,142 (799)
Cash balance, beginning of period 1,238 2,342
Cash balance, end of period 2,380 1,543
Supplemental Disclosure of Cash Flow Information:    
Interest paid, during the period 6,477 6,829
Net income taxes paid, during the period 8,074 24,704
Dividends accrued during the period, not yet paid 10,002 10,355
Rental equipment acquisitions, not yet paid $ 2,199 $ 5,827