v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities:      
Net income $ 28,129 $ 476,457 $ 339,540
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 384,972 338,654 343,507
Provision for credit losses 55,437 49,650 34,835
Gain on sale of discontinued operations 0 (176,078) (35,456)
Impairment loss on intangible asset 132,540 0 0
Gain on sale of rental equipment and other property, plant and equipment (27,087) (32,724) (31,196)
Amortization of debt discounts and debt issuance costs 12,571 11,211 12,064
Stock-based compensation expense 35,966 34,486 29,613
Deferred income tax (benefit) expense (45,323) 141,641 100,849
Loss on settlement of foreign currency forward contract 0 7,715 0
Unrealized currency gains, net (56) (1,374) 753
Other 4,621 3,413 4,081
Changes in operating assets and liabilities      
Trade receivables (34,519) (76,357) (94,463)
Inventories (529) (3,276) (12,345)
Prepaid expenses and other assets (12,132) (18,310) 149
Operating lease assets and liabilities 939 1,045 856
Accounts payable and other accrued expenses (1,272) (14,836) 9,443
Deferred revenue and customer deposits 27,387 19,923 42,428
Net cash provided by operating activities 561,644 761,240 744,658
Investing activities:      
Acquisitions, net of cash acquired (121,221) (561,629) (220,620)
Purchase of rental equipment and refurbishments (280,857) (226,976) (443,138)
Proceeds from sale of rental equipment 63,997 51,290 70,703
Purchase of property, plant and equipment (18,435) (22,237) (43,664)
Proceeds from sale of property, plant and equipment 1,867 13,272 1,775
Payments to Acquire Investments (7,699) 0 0
Proceeds from sale of discontinued operations 0 403,992 325,611
Payment for settlement of foreign currency forward contract 0 (7,715) 0
Net cash used in investing activities (362,348) (350,003) (309,333)
Financing activities:      
Receipts from borrowings 1,317,156 1,911,230 964,308
Repayment of borrowings (1,195,932) (1,475,219) (588,808)
Payment of financing costs (7,945) (6,457) (8,187)
Payments on finance lease obligations (19,429) (16,634) (42,228)
Receipts from issuance of Common Stock from the exercise of options 253 498 11,230
Repurchase and cancellation of Common Stock (270,439) (818,182) (751,795)
Excise tax paid on repurchase of Common Stock (7,830) 0 0
Taxes paid on employee stock awards (15,953) (14,171) (13,888)
Net cash used in financing activities (200,119) (418,935) (429,368)
Effect of exchange rate changes on cash and cash equivalents (1,134) 882 (882)
Net change in cash and cash equivalents (1,957) (6,816) 5,075
Cash and cash equivalents at the beginning of the period 10,958 17,774 12,699
Cash and cash equivalents at the end of the period 9,001 10,958 17,774
Supplemental cash flow information:      
Interest paid, net 216,151 184,863 130,463
Income taxes paid, net 45,580 32,949 25,092
Capital expenditures accrued or payable 20,126 19,557 21,052
Reconciliation of cash and cash equivalents to the consolidated balance sheet:      
Cash and cash equivalents 9,001 10,958  
Continuing And Discontinued Operations      
Reconciliation of cash and cash equivalents to the consolidated balance sheet:      
Cash and cash equivalents 9,001 10,958 17,774
Continuing Operations      
Adjustments to reconcile net income to net cash provided by operating activities:      
Impairment loss on intangible asset 132,540 0 0
Reconciliation of cash and cash equivalents to the consolidated balance sheet:      
Cash and cash equivalents 9,001 10,958 7,390
Discontinued Operations      
Reconciliation of cash and cash equivalents to the consolidated balance sheet:      
Cash and cash equivalents $ 0 $ 0 $ 10,384