| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | |
|---|---|---|---|---|---|---|
Operating activities | ||||||
Net loss | ||||||
-120,301 | 65,581 | 230,692 | 198,476 | 174,293 | 123,626 | |
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||
Depreciation and amortization | ||||||
59,932 | 49,322 | 31,545 | 24,695 | 24,101 | 24,601 | |
Equity-based compensation | ||||||
13,145 | 14,088 | 5,109 | 1,597 | - | - | |
Loss on debt restructure | ||||||
- | -1,676 | -462 | -5,052 | - | -1,831 | |
Loss on lease termination | ||||||
700 | - | - | - | - | - | |
Goodwill impairment | ||||||
- | 40,046 | - | - | - | - | |
Long-lived asset impairment | ||||||
66,300 | - | - | - | - | - | |
Loss (gain) on disposal of assets | ||||||
-11,492 | -2,810 | 133 | 564 | 237 | -33 | |
Provision for losses on accounts receivable | ||||||
-20 | 2,444 | 839 | 1,332 | 2,180 | 1,192 | |
Non-cash lease expense | ||||||
54,921 | - | - | - | - | - | |
Accretion of original debt issuance discount | ||||||
1,038 | 1,034 | 942 | 1,127 | 1,010 | 848 | |
Non-cash interest | ||||||
4,585 | 5,068 | 4,360 | 4,543 | 5,897 | 1,345 | |
Deferred income taxes | ||||||
14,897 | 11,364 | 130,966 | 3,658 | -181 | 1,175 | |
Tax Receivable Agreement liability adjustment | ||||||
-10,005 | 1,324 | -100,758 | - | - | - | |
Change in assets and liabilities, net of acquisitions: | ||||||
Receivables and contracts in transit | ||||||
-12,217 | 16,550 | 38,019 | 10,932 | 8,840 | 7,716 | |
Inventories | ||||||
-216,111 | 99,610 | 342,780 | 30,964 | 108,899 | 115,304 | |
Prepaid expenses and other assets | ||||||
7,951 | 8,290 | 20,244 | 4,625 | 6,944 | 7,358 | |
Checks in excess of bank balance | ||||||
-2,764 | 3,942 | 6,585 | -7,478 | 6,192 | -954 | |
Accounts payable and other accrued expenses | ||||||
-12,586 | 45,230 | 52,155 | 13,915 | 17,686 | 10,715 | |
Payment pursuant to Tax Receivable Agreement | ||||||
9,425 | 8,914 | 203 | - | - | - | |
Accrued rent for cease-use locations | ||||||
- | -488 | -91 | 945 | 420 | -117 | |
Deferred revenue and gains | ||||||
708 | 12,448 | 12,943 | 6,143 | 5,397 | 9,410 | |
Operating lease liabilities | ||||||
-54,403 | - | - | - | - | - | |
Other, net | ||||||
-14,759 | -13,767 | -9,315 | -8,855 | -68 | -737 | |
Net cash provided by (used in) operating activities | ||||||
251,934 | 136,292 | -16,315 | 215,775 | 112,143 | 44,064 | |
Investing activities | ||||||
Purchases of property and equipment | ||||||
56,789 | 133,557 | 59,559 | 39,866 | 41,437 | 34,984 | |
Purchase of real property | ||||||
31,567 | 120,802 | 21,212 | 17,077 | 30,272 | 6,395 | |
Proceeds from the sale of real property | ||||||
28,169 | 56,932 | 6,000 | 15,892 | 19,425 | 1,197 | |
Purchases of businesses, net of cash acquired | ||||||
48,418 | 99,240 | 392,956 | 78,606 | 125,189 | 10,615 | |
Proceeds from sale of property and equipment | ||||||
4,068 | 3,978 | 795 | 3,870 | 1,273 | 606 | |
Purchase of intangible assets | ||||||
- | - | 1,523 | - | - | 34 | |
Net cash used in investing activities | ||||||
-104,537 | -292,689 | -468,455 | -115,787 | -176,200 | -50,225 | |
Financing activities | ||||||
Proceeds from credit facilities | ||||||
11,663 | 329,775 | 299,246 | 188,137 | 148,938 | 116,415 | |
Payments on long-term debt | ||||||
- | - | - | - | - | 5,000 | |
Net borrowings on notes payable - floor plan, net | ||||||
-43,989 | -85,446 | 358,478 | 34,785 | 167,387 | 47,926 | |
Borrowings on revolving line of credit | ||||||
14,029 | 45,164 | - | 12,000 | - | - | |
Payments on revolving line of credit | ||||||
11,883 | 6,425 | - | 12,000 | - | - | |
Payments of principal on finance lease obligations | ||||||
- | 844 | 1,198 | 1,465 | 737 | 688 | |
Payments of principal on long-term debt | ||||||
13,658 | 82,820 | 7,916 | 288,520 | 36,647 | 13,870 | |
Payments of principal on right-to-use liability | ||||||
- | 161 | 150 | 200 | 1,351 | 1,395 | |
Payment of debt issuance costs | ||||||
47 | 3,345 | 4,604 | 7,085 | 3,324 | 2,921 | |
Proceeds from issuance of Class A common stock sold in a public offering net of underwriter discounts, commissions and offering expenses | ||||||
- | - | 121,395 | - | - | - | |
Dividends on Class A common stock | ||||||
22,878 | 22,697 | 22,241 | 1,515 | - | - | |
Proceeds from exercise of stock options | ||||||
- | 153 | 1,728 | - | - | - | |
RSU shares withheld for tax | ||||||
1,478 | 1,365 | 368 | - | - | - | |
Disgorgement of short-swing profits by Section 16 officer | ||||||
- | 557 | - | - | - | - | |
Members' distributions | ||||||
70,192 | 101,755 | 149,633 | 236,145 | 228,894 | 60,101 | |
Net cash (used in) provided by financing activities | ||||||
-138,433 | 70,791 | 594,737 | -77,817 | 45,372 | 80,366 | |
Decrease in cash and cash equivalents | ||||||
8,964 | -85,606 | 109,967 | 22,171 | -18,685 | 74,205 | |
Class A common stock | ||||||
Net income | ||||||
- | - | - | 11,113 | - | - | |
Proceeds from issuance of Class A common stock sold in an initial public offering net of underwriter discounts and commissions | ||||||
- | - | - | 234,185 | - | - | |
Proceeds from issuance of Class A common stock sold in a public offering net of underwriter discounts, commissions and offering expenses | ||||||
- | - | - | 6 | - | - | |