| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Cash Flows from Operating Activities: | ||||||||||
Net income | ||||||||||
96,806 | 79,406 | 153,920 | 38,251 | 40,470 | 45,709 | 43,397 | 44,777 | 49,602 | 36,479 | 33,325 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||
Depreciation and amortization | ||||||||||
89,476 | 81,975 | 78,416 | 81,179 | 84,280 | 81,125 | 76,849 | 72,476 | 67,395 | 62,577 | 63,130 |
Impairment of rental assets | ||||||||||
0 | 39 | 1,639 | 0 | 0 | - | - | - | - | - | - |
Provision for doubtful accounts | ||||||||||
1,013 | 581 | 1,480 | 1,892 | 2,149 | 1,825 | 2,144 | 4,263 | 1,755 | 1,494 | 1,389 |
Share-based compensation | ||||||||||
5,900 | 4,100 | 3,200 | 3,091 | 3,399 | 3,854 | 3,680 | 3,840 | 5,221 | 4,227 | 3,598 |
Gain on sale of used rental equipment | ||||||||||
21,309 | 19,559 | 17,733 | 13,739 | 11,902 | 15,368 | 13,091 | 12,389 | 12,444 | 11,728 | 10,892 |
Gain on sale of property, plant and equipment | ||||||||||
- | - | - | - | - | 812 | - | - | - | - | - |
Foreign currency exchange loss (gain) | ||||||||||
84 | -489 | 334 | -121 | -488 | -331 | -189 | 35 | - | - | - |
Amortization of debt issuance costs | ||||||||||
11 | 20 | 50 | 51 | 52 | 14 | - | - | - | - | - |
Change in: | ||||||||||
Accounts receivable | ||||||||||
7,323 | 15,725 | 10,475 | 3,752 | -3,628 | 15,607 | -2,462 | 3,848 | 17,938 | 7,385 | -14,121 |
Income taxes receivable | ||||||||||
- | - | - | -11,000 | 11,000 | - | - | - | -6,131 | -120 | -1,676 |
Prepaid expenses and other assets | ||||||||||
13,530 | 9,351 | -3,124 | -3,219 | -12,910 | 13,528 | 8,265 | 2,337 | 3,226 | -296 | -4,079 |
Accounts payable and accrued liabilities | ||||||||||
20,298 | -1,612 | 4,015 | 10,426 | -1,812 | 10,662 | 6,506 | -3,421 | 5,715 | 3,399 | -6,595 |
Deferred income | ||||||||||
5,138 | 10,258 | 1,720 | 1,211 | 7,149 | 5,136 | -2,921 | 1,857 | 1,277 | -954 | -3,311 |
Deferred income taxes | ||||||||||
-11,606 | -12,035 | 96,631 | -7,745 | -14,449 | -19,645 | -22,693 | -21,198 | -25,823 | -12,073 | -21,880 |
Net cash provided by operating activities | ||||||||||
187,994 | 142,667 | 122,389 | 140,695 | - | - | - | - | 129,311 | 100,598 | 122,400 |
Net cash provided by operating activities | ||||||||||
- | - | - | - | 144,260 | 122,986 | 133,643 | 126,381 | - | - | - |
Cash Flows from Investing Activities: | ||||||||||
Purchases of rental equipment | ||||||||||
167,703 | 123,071 | 94,579 | 79,038 | 131,037 | 152,197 | 132,611 | 131,805 | 154,963 | 122,749 | 70,479 |
Purchases of property, plant and equipment | ||||||||||
12,080 | 15,664 | 14,617 | 10,548 | 9,321 | 12,740 | 11,973 | 14,161 | 17,204 | 12,144 | 2,151 |
Cash paid for acquisition of business assets | ||||||||||
7,808 | 7,543 | - | - | - | - | - | - | - | 39 | 2,100 |
Proceeds from sales of used rental equipment | ||||||||||
44,447 | 41,786 | 38,344 | 29,406 | 26,214 | 32,556 | 33,380 | 30,970 | 28,453 | 28,694 | 29,255 |
Proceeds from sale of property, plant and equipment | ||||||||||
- | - | - | - | - | 2,501 | - | - | - | - | - |
Net cash used in investing activities | ||||||||||
-143,144 | -104,492 | -70,852 | -60,180 | -114,144 | -129,880 | -111,204 | -114,996 | -143,714 | -106,238 | -45,475 |
Cash Flows from Financing Activities: | ||||||||||
Net repayment under bank lines of credit | ||||||||||
-5,144 | 15,130 | -2,902 | -35,066 | 18,963 | 12,475 | -11,997 | 5,500 | -57,140 | 30,306 | -46,166 |
Repurchase of common stock | ||||||||||
- | - | - | - | 63,953 | - | - | - | - | - | - |
Borrowings Under Private Placement | ||||||||||
- | - | - | - | - | - | - | - | 100,000 | - | - |
Principal payments on Series A senior notes | ||||||||||
- | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | - | - | 12,000 | 12,000 | 12,000 |
Borrowings under Series C senior notes | ||||||||||
- | - | - | - | 60,000 | - | - | - | - | - | - |
Proceeds from the exercise of stock options | ||||||||||
- | - | - | 37 | 2,149 | 1,729 | 15,067 | 5,841 | 5,261 | 7,506 | 1,098 |
Excess tax benefit (shortfall) from exercise of stock awards | ||||||||||
- | - | - | - | - | 1,822 | 1,329 | 1,033 | 980 | 1,021 | 419 |
Taxes paid related to net share settlement of stock awards | ||||||||||
3,333 | 3,257 | 2,072 | 1,287 | 1,560 | 3,959 | 2,395 | 250 | 207 | - | - |
Payment of dividends | ||||||||||
35,539 | 30,939 | 24,876 | 24,448 | 25,779 | 25,551 | 24,423 | 23,126 | 22,252 | 21,390 | 20,414 |
Net cash used in financing activities | ||||||||||
-44,016 | -39,066 | -49,850 | -80,764 | -30,180 | 6,516 | -22,419 | -11,002 | 14,642 | 5,443 | -77,063 |
Effect of foreign currency exchange rate changes on cash | ||||||||||
- | -102 | -38 | -2 | - | -85 | -2 | - | - | - | - |
Net decrease in cash | ||||||||||
834 | -993 | 1,649 | -251 | -64 | -463 | 18 | 383 | 239 | -197 | -138 |
Supplemental Disclosure of Cash Flow Information: | ||||||||||
Interest paid, during the period | ||||||||||
12,475 | 12,598 | 11,825 | 12,436 | 10,041 | 9,074 | 8,813 | 9,107 | 6,877 | 6,306 | 7,412 |
Net income taxes paid, during the period | ||||||||||
17,528 | 18,157 | 29,504 | 15,555 | 2,498 | 22,275 | 11,074 | 5,842 | -1,480 | 9,342 | -3,321 |
Dividends Accrued During the Period, not yet paid | ||||||||||
- | - | - | - | - | - | - | - | 5,952 | 5,513 | 5,235 |
Rental equipment acquisitions, not yet paid | ||||||||||
6,496 | 9,695 | 6,405 | 2,876 | 7,280 | 4,942 | 8,533 | 4,491 | 8,186 | 5,388 | 10,429 |