v3.26.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Operating activities    
Net income $ 52,913 $ 34,062
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 11,466 11,474
Loss on disposal of fixed assets 660 0
Amortization of deferred financing costs and debt discount 317 382
Debt modification expense (0) 176
Loss on extinguishment of debt 0 156
Stock-based compensation 8,807 5,223
Provision for losses on accounts receivable 472 122
Deferred income taxes 1,937 5,657
Non-cash lease expense 8,110 6,228
Changes in operating assets and liabilities:    
Accounts receivable (120,752) (86,177)
Inventories (18,270) (1,709)
Prepaid assets, refundable income taxes and other assets (3,793) (1,007)
Accounts payable 3,871 7,788
Accrued expenses and other current liabilities 12,511 6,541
Benefit obligations, long-term liabilities and other (5,778) (10,153)
Net cash used in operating activities (47,529) (21,237)
Investing activities    
Capital expenditures (11,201) (8,055)
Acquisition of business (927) 0
Net cash used in investing activities (12,128) (8,055)
Financing activities    
Shares withheld on restricted stock vesting paid for employees’ taxes (1,263) (161)
Repurchase of common stock (6,000) (6,000)
Payments on life insurance policy loans (122) (119)
Payments of financing costs 0 (293)
Dividends paid (21,148) (20,941)
Net revolver borrowings 91,000 65,000
Borrowings on long-term debt 0 148,770
Repayment of long-term debt (5,625) (151,438)
Net cash provided by financing activities 56,842 34,818
Change in cash and cash equivalents (2,815) 5,526
Cash and cash equivalents at beginning of period 8,297 5,119
Cash and cash equivalents at end of period 5,482 10,645
Non-cash operating and financing activities    
Truck chassis inventory acquired through floorplan obligations $ 1,488 $ 19,249