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Note 6 - Stockholders' Equity
 6 Months Ended
Jun. 30, 2013
Stockholders' Equity Note Disclosure [Text Block]  
Stockholders' Equity Note Disclosure [Text Block]

Note 6. Stockholders’ Equity


Reclassification From Accumulated Other Comprehensive Loss


The reclassification from accumulated other comprehensive loss was as follows (in thousands):


   

Three Months Ended
June 30, 2013

   

Six Months Ended
June 30, 2013

 

Affected Line Item in the Consolidated Statements of Operations

Loss on cash flow hedges

  $ (166 )   $ (472 )

Floor plan interest expense

Taxes

    64       181  

Income tax provision

Loss on cash flow hedges, net

  $ (102 )   $ (291 )  

See Note 9 for more details regarding our derivative contracts.


Share Repurchases


In August 2011, our Board of Directors authorized the repurchase of up to 2,000,000 shares of our Class A common stock. On July 20, 2012, our Board of Directors authorized the repurchase of 1,000,000 additional shares of our Class A common stock. In the six months ended June 30, 2013, we repurchased 127,900 shares at an average price of $40.76 per share, for a total of $5.2 million. Through June 30, 2013, we have repurchased 1,273,047 shares and 1,726,953 shares remained available for repurchase. This authority to repurchase shares does not have an expiration date and we may continue to repurchase shares from time to time as conditions warrant.


In addition, 59,721 shares subject to equity awards were repurchased during the first six months of 2013 at an average price of $45.04, for a total of $2.7 million, related to tax withholdings associated with the exercise of stock options or the vesting of restricted stock units.


Dividends


We declared and paid dividends on our Class A and Class B common stock during the second quarter of 2013, which related to our first quarter 2013 financial results, of $0.13 per share, for a total of $3.4 million. 


See Note 13 for a discussion of a dividend related to our second quarter 2013 financial results.