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FY2025
12 months to Dec 31, 2025
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|---|---|
| OPERATING ACTIVITIES | |
| Net income | |
| Adjustments to reconcile net income to net cash provided by operating activities: | |
| Depreciation and amortization expense | |
| Gain on sale of properties and other assets | |
| Loss on debt extinguishment | |
| Amortization of debt issuance costs and original issue discounts | |
| Allowance for credit losses and doubtful accounts | |
| Change in operating lease cost | |
| Stock-based compensation expense | |
| Deferred taxes | |
| Other | |
| Change in operating assets and liabilities: | |
| Accounts receivable | |
| Inventories | |
| Prepaid costs and other assets | |
| Accounts payable and manufacturer flooring plans payable | |
| Accrued liabilities | |
| Operating lease liabilities | |
| Other liabilities | |
| Net cash provided by operating activities | |
| INVESTING ACTIVITIES | |
| Purchases of rental equipment ($27 and $133 from related parties in 2025 and 2024, respectively) | |
| Proceeds from sale of rental equipment ($55, $202, and $62, respectively, from related parties) | |
| Purchases of and deposits on property and other fixed assets | |
| Proceeds from sale of property and other fixed assets | |
| Investments in internally developed software | |
| Purchases of investments in equity and debt securities | |
| Proceeds from sale of investments in equity and debt securities | |
| Acquisition of businesses, net of cash acquired | |
| Net cash outflow from deconsolidation of subsidiary | |
| Net cash used in investing activities | |
| FINANCING ACTIVITIES | |
| Payments on long-term debt and finance leases | |
| Proceeds from long-term debt, net | |
| Payments on deferred financing costs | |
| Payments on financing obligations | |
| Proceeds on financing obligations | |
| Proceeds from issuance of perpetual preferred stock, net | |
| Proceeds from issuance of convertible preferred stock, net | |
| Proceeds from issuance of common stock | |
| Dividends paid on perpetual preferred stock | |
| Exercise of stock options | |
| Lease termination and debt redemption prepayment fees | |
| Other | |
| Net cash provided by financing activities | |
| Net (decrease) increase in cash and cash equivalents | |
| Cash and cash equivalents, beginning of period | |
| Cash and cash equivalents, end of period | |
| SUPPLEMENTAL CASH FLOW DISCLOSURES: | |
| Cash paid for interest | |
| Cash paid for taxes | |
| NON-CASH ACTIVITIES: | |
| Purchase of rental equipment with long-term debt | |
| Purchase of rental equipment remaining in accounts payable | |
| Purchase of property and other fixed assets remaining in accounts payable | |
| Accretion of perpetual preferred stock to redemption value | |
| Equity issued in exchange for acquisition of business and other assets |
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