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Note 6 - Stockholders' Equity
 6 Months Ended
Jun. 30, 2014
Stockholders' Equity Note [Abstract]  
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, 2014

   

Six Months

Ended
June 30, 2014

 

Affected Line Item in the

Consolidated Statements

of Operations

Loss on cash flow hedges

  $ (118 )   $ (252 )

Floor plan interest expense

Taxes

    45       96  

Income tax provision

Loss on cash flow hedges, net

  $ (73 )   $ (156 )  

See Note 9 for more details regarding our derivative contracts.


Share Repurchases


In 2011 and 2012, our Board of Directors authorized the repurchase of up to a total of 3,000,000 shares of our Class A common stock. In the six months ended June 30, 2014, we repurchased 45,000 shares at an average price of $71.73 per share, for a total of $3.2 million. Through June 30, 2014, we have repurchased 1,318,047 shares and 1,681,953 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, we repurchased 106,772 shares during the first six months of 2014 at an average price of $65.36, for a total of $7.0 million, related to tax withholdings associated with the vesting of restricted stock units. 


Dividends


Dividends paid on our Class A and Class B common stock in the six months ended June 30, 2014 were as follows:


Quarter paid:

 

Dividend

amount per

share

   

Total amount of

dividend (in

thousands)

 

First quarter

  $ 0.13     $ 3,378  

Second quarter

    0.16       4,179  

See Note 14 for a discussion of a dividend related to our second quarter 2014 financial results.