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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities from continuing operations:    
Net earnings (loss) $ (183,712) $ 120,531
Less: Loss from discontinued operations, net of tax (878) (811)
Earnings (loss) from continuing operations (182,834) 121,342
Depreciation expense 1,056,171 768,030
Used vehicle sales, net 30,172 26,357
Non-cash lease expense 45,055 46,856
Non-operating pension costs and share-based compensation expense 12,787 28,097
Other non-cash charges, net 74,854 39,557
Deferred income tax expense (benefit) (36,148) 41,688
Collections on sales-type leases 54,724 63,047
Changes in operating assets and liabilities, net of acquisitions:    
Receivables 69,212 8,196
Inventories 18,680 (1,524)
Prepaid expenses and other assets (7,338) (6,175)
Accounts payable (54,434) (3,965)
Accrued expenses and other non-current liabilities 17,884 (86,447)
Net cash provided by operating activities from continuing operations 1,098,785 1,045,059
Cash flows from investing activities from continuing operations:    
Purchases of property and revenue earning equipment (704,930) (2,210,761)
Sales of revenue earning equipment 214,189 210,081
Sales of operating property and equipment 4,231 46,189
Other (5,756) 0
Net cash used in investing activities from continuing operations (492,266) (1,954,491)
Cash flows from financing activities from continuing operations:    
Net borrowings (repayments) of commercial paper and revolving credit facilities (457,553) 227,023
Debt proceeds 1,756,497 1,691,906
Debt repaid (1,064,096) (902,814)
Dividends on common stock (60,155) (57,651)
Common stock issued 5,542 6,244
Common stock repurchased (11,924) (21,220)
Tax withholding on shares settled (4,302) (3,529)
Debt issuance costs and other items (9,277) (2,920)
Net cash provided by (used in) financing activities from continuing operations 154,732 937,039
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (3,022) (2,611)
Increase (decrease) in cash, cash equivalents, and restricted cash from continuing operations 758,229 24,996
Increase (decrease) in cash, cash equivalents, and restricted cash from discontinued operations (344) (605)
Increase (decrease) in cash, cash equivalents, and restricted cash 757,885 24,391
Cash, cash equivalents, and restricted cash at beginning of year 73,584 68,111
Cash, cash equivalents, and restricted cash at end of period $ 831,469 $ 92,502