Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Operating activities    
Net loss $ (297) $ (1,876)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 4,808 4,701
Amortization of deferred financing costs and debt discount 303 304
Stock-based compensation 1,054 1,420
Provision for losses on accounts receivable 107 182
Deferred income taxes 1,010 1,749
Earnout liability (217)  
Changes in operating assets and liabilities:    
Accounts receivable 26,096 40,193
Inventories (29,229) (25,275)
Prepaid and refundable income taxes and other assets (3,676) (1,199)
Accounts payable (2,179) (208)
Accrued expenses and other current liabilities (1,451) (5,950)
Benefit obligations and other long-term liabilities (1,906) 234
Net cash provided by (used in) operating activities (5,577) 14,275
Investing activities    
Capital expenditures (769) (1,307)
Net cash used in investing activities (769) (1,307)
Financing activities    
Shares withheld on restricted stock vesting paid for employees' taxes (50) (23)
Dividends paid (6,292) (6,098)
Net revolver borrowings 16,000  
Repayment of long-term debt (30,784) (30,785)
Net cash used in financing activities (21,126) (36,906)
Change in cash and cash equivalents (27,472) (23,938)
Cash and cash equivalents at beginning of period 27,820 36,875
Cash and cash equivalents at end of period 348 12,937
Non-cash operating and financing activities    
Truck chassis inventory acquired through floorplan obligations $ 10,299 $ 7,301