v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities:    
Net income $ 75,096 $ 90,994
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 187,690 209,724
Provision for credit losses 39,737 19,756
Gain on sale of rental equipment and other property, plant and equipment (12,177) (14,338)
Amortization of debt discounts and debt issuance costs 4,202 6,974
Stock-based compensation expense 15,002 16,714
Deferred income tax expense 23,679 1,129
Other 6,955 2,123
Changes in operating assets and liabilities    
Trade receivables (67,915) 18
Inventories (3,609) 530
Prepaid expenses and other assets 5,414 10,027
Operating lease assets and liabilities 2,016 239
Accounts payable and other accrued expenses 59,091 80,394
Deferred revenue and customer deposits 18,141 (12,346)
Net cash provided by operating activities 353,322 411,938
Investing activities:    
Acquisitions, net of cash acquired (1,539) (136,815)
Purchase of rental equipment and refurbishments (223,974) (157,821)
Proceeds from sale of rental equipment 33,433 30,332
Purchase of property, plant and equipment (8,369) (10,920)
Proceeds from sale of property, plant and equipment 2,924 1,593
Purchases of investments (1,179) (68)
Maturities of marketable securities 1,172 600
Net cash used in investing activities (197,532) (273,099)
Financing activities:    
Receipts from borrowings 278,931 860,307
Repayment of borrowings (381,431) (880,890)
Payment of financing costs 0 (7,328)
Payments on finance lease obligations (14,382) (11,231)
Receipts from issuance of Common Stock from the exercise of options 142 10,040
Repurchase and cancellation of Common Stock (7,250) (73,225)
Taxes paid on employee stock awards (1,857) (7,983)
Dividends paid (25,422) (25,632)
Net cash used in financing activities (151,269) (135,942)
Effect of exchange rate changes on cash and cash equivalents (941) 952
Net change in cash and cash equivalents 3,580 3,849
Cash and cash equivalents at the beginning of the period 14,587 9,001
Cash and cash equivalents at the end of the period 18,167 12,850
Supplemental cash flow information:    
Interest paid, net 103,660 103,689
Income taxes paid, net 5,281 10,812
Capital expenditures accrued or payable $ 22,759 $ 16,035