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 earnings $ 57,373 $ 40,278
Adjustments to reconcile net earnings to net cash provided by operating activities    
Depreciation of rental merchandise 679,359 680,838
Bad debt expense 47,423 36,697
Stock-based compensation expense 29,144 24,675
Depreciation of property assets 40,088 36,543
Loss on sale or disposal of property assets 3,072 332
Amortization of intangibles 30,294 28,853
Amortization of financing fees 2,066 2,264
Deferred income taxes 18,747 (27,882)
Changes in operating assets and liabilities, net of acquired assets    
Rental merchandise(1) [1] (565,011) (632,239)
Receivables (6,989) 2,847
Prepaid expenses and other assets 1,555 (25,016)
Operating lease right-of-use assets and lease liabilities (1,076) (1,178)
Accounts payable – trade (36,426) (22,586)
Accrued liabilities (5,657) 29,653
Net cash provided by operating activities 293,962 174,079
Cash flows from investing activities    
Net originations and collections of customer cash advances (42,559) (28,529)
Purchase of property assets (31,462) (28,823)
Proceeds from sale of assets 677 32
Promissory loan collection 35 0
Acquisitions of businesses, net of cash acquired 0 (276,151)
Net cash used in investing activities (73,309) (333,471)
Cash flows from financing activities    
Exercise of stock options 184 162
Shares withheld for payment of employee tax withholdings (4,656) (6,707)
Deferred consideration for acquisition of businesses [2] (37,500) 0
Proceeds from debt 205,000 549,000
Repayments of debt (353,375) (294,375)
Dividends paid (45,997) (43,483)
Net cash (used in) provided by financing activities (236,344) 204,597
Effect of exchange rate changes on cash 465 776
Net (decrease) increase in cash and cash equivalents (15,226) 45,981
Cash and cash equivalents at beginning of period 120,528 60,860
Cash and cash equivalents at end of period $ 105,302 $ 106,841
[1] The change in Rental merchandise includes lease charge-offs and other merchandise losses.
[2] Cash used for the six months ended June 30, 2026 represents the 1st installment payment of Deferred Consideration for the Brigit acquisition described further in Note 2.