H&E Equipment Services, Inc. Cashflow Statement

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated Statements of Cash Flows

In millions of USD, except per-share amounts

	FY2024 12 months to Dec 31, 2024	FY2023 12 months to Dec 31, 2023	FY2022 12 months to Dec 31, 2022	FY2021 12 months to Dec 31, 2021	FY2020 12 months to Dec 31, 2020
Cash flows from operating activities:
Net income
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property and equipment
Depreciation of rental equipment
Amortization of intangible assets
Amortization of deferred financing costs
Accretion of note discount, net of premium amortization
Non-cash operating lease expense
Amortization of finance lease right-of-use assets
Provision for losses on accounts receivable
Provision for inventory obsolescence
Deferred income taxes
Change in deferred income taxes
Stock-based compensation expense
Gain on sale of discontinued operations
Impairment of goodwill
Loss on sale of discontinued operations
Loss on early extinguishment of debt
Gain from sales of property and equipment, net
Gain from sales of rental equipment, net

Changes in operating assets and liabilities:
Receivables
Inventories
Prepaid expenses and other assets
Accounts payable
Manufacturer flooring plans payable
Accrued expenses payable and other liabilities
Deferred compensation payable

Net cash provided by operating activities
Cash flows from investing activities:
Acquisition of businesses
Closing adjustment on sale of discontinued operations
Proceeds from the sale of discontinued operations
Purchases of property and equipment
Purchases of rental equipment
Proceeds from sales of property and equipment
Proceeds from sales of rental equipment
Net cash used in investing activities

Cash flows from financing activities:
Purchases of treasury stock
Borrowings on senior secured credit facility
Payments on senior secured credit facility
Principal payments on senior unsecured notes due 2025
Costs paid to tender and redeem senior unsecured notes due 2025
Proceeds from issuance of senior unsecured notes due 2028
Payments of deferred financing costs
Dividends paid
Payments of finance lease obligations
Net cash provided by (used in) financing activities

Net increase (decrease) in cash
Cash, beginning of year
Cash, end of year
Supplemental schedule of non-cash investing and financing activities:
Accrued acquisition purchase price consideration
Non-cash asset purchases:
Assets transferred from new and used inventory to rental fleet
Rental fleet in accounts payable and accrued expenses payable and other liabilities
Assets transferred from inventory to rental fleet
Purchases of property and equipment included in accrued expenses payable and other liabilities
Operating lease assets obtained in exchange for new operating lease liabilities

Supplemental disclosures of cash flow information:
Cash paid during the year for:
Interest
Income taxes paid, net of refunds received

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