v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash Flows from Operating Activities:    
Net income $ 60,705 $ 64,181
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 56,280 52,739
Deferred income taxes 6,792 12,764
Provision for credit losses 569 826
Share-based compensation 5,679 5,322
Gain on sale of property, plant and equipment (1,814)  
Gain on sale of used rental equipment (18,035) (16,674)
Foreign currency exchange loss (gain) 71 (86)
Amortization of debt issuance costs 5 45
Change in:    
Accounts receivable (8,580) (15,285)
Inventories (7,151) 2,007
Prepaid expenses and other assets (33,578) (5,270)
Accounts payable (30) (8,402)
Accrued liabilities 15,058 2,403
Deferred income 29,721 15,124
Net cash provided by operating activities 105,692 109,694
Cash Flows from Investing Activities:    
Purchases of rental equipment (124,038) (50,230)
Purchases of property, plant and equipment (19,397) (21,621)
Cash paid for acquisition of businesses, net of cash received (9,385) (21,947)
Proceeds from sales of used rental equipment 31,646 32,200
Proceeds from sales of property, plant and equipment 2,750  
Net cash used in investing activities (118,424) (61,598)
Cash Flows from Financing Activities:    
Net borrowings (payments) under bank lines of credit 134,966 (17,730)
Principal payment of Series E senior notes (60,000)  
Repurchase of common stock (27,456)  
Taxes paid related to net share settlement of stock awards (6,032) (5,684)
Payment of dividends (24,662) (24,020)
Net cash provided by (used in) financing activities 16,816 (47,434)
Net increase in cash 4,084 662
Cash balance, beginning of period 295 807
Cash balance, end of period 4,379 1,469
Supplemental Disclosure of Cash Flow Information:    
Interest paid, during the period 13,258 15,982
Net income taxes paid, during the period 19,780 5,786
Dividends accrued during the period, not yet paid 12,543 12,443
Rental equipment acquisitions, not yet paid 19,047 8,658
Business acquisition payments withheld $ 1,249 $ 1,815

Source

10-Q XBRL Zip