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 $ 126,671 $ 134,326
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 285,284 317,782
Provision for credit losses 49,126 37,579
Gain on sale of rental equipment and other property, plant and equipment (19,236) (21,183)
Amortization of debt discounts and debt issuance costs 6,340 10,011
Loss on extinguishment of debt 1,777 0
Stock-based compensation expense 22,505 26,678
Deferred income tax expense 41,102 30,282
Other 9,731 2,737
Changes in operating assets and liabilities    
Trade receivables (71,969) (7,738)
Inventories (5,682) 3,703
Prepaid expenses and other assets (1,032) 2,463
Operating lease assets and liabilities 3,170 (418)
Accounts payable and other accrued expenses 78,277 72,647
Deferred revenue and customer deposits 25,232 (5,780)
Net cash provided by operating activities 551,296 603,089
Investing activities:    
Acquisitions, net of cash acquired (1,539) (144,387)
Purchase of rental equipment and refurbishments (357,893) (238,839)
Proceeds from sale of rental equipment 48,547 46,045
Purchase of property, plant and equipment (13,764) (15,164)
Proceeds from sale of property, plant and equipment 4,693 2,203
Purchases of investments (6,512) (614)
Maturities of marketable securities 6,191 1,090
Net cash used in investing activities (320,277) (349,666)
Financing activities:    
Receipts from borrowings 449,824 977,756
Repayment of borrowings (610,174) (1,082,693)
Payment of financing costs 0 (7,328)
Payments on finance lease obligations (24,117) (17,740)
Receipts from issuance of Common Stock from the exercise of options 5,698 10,040
Repurchase and cancellation of Common Stock (7,285) (82,499)
Taxes paid on employee stock awards (5,491) (8,009)
Dividends paid (38,240) (38,368)
Net cash used in financing activities (229,785) (248,841)
Effect of exchange rate changes on cash and cash equivalents (715) 1,174
Net change in cash and cash equivalents 519 5,756
Cash and cash equivalents at the beginning of the period 14,587 9,001
Cash and cash equivalents at the end of the period 15,106 14,757
Supplemental cash flow information:    
Interest paid, net 137,335 139,551
Income taxes paid, net 6,833 14,529
Capital expenditures accrued or payable $ 26,102 $ 16,376