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Note 5 - Stockholders' Equity
 3 Months Ended
Mar. 31, 2015
Stockholders' Equity Note [Abstract]  
Stockholders' Equity Note Disclosure [Text Block]

Note 5. Stockholders’ Equity


Reclassification From Accumulated Other Comprehensive Loss


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


   

Three Months Ended
March 31,

 

Affected Line Item in the Consolidated

   

2015

   

2014

 

Statements of Operations

Loss on cash flow hedges

  $ (125)     $ (134)  

Floor plan interest expense

Income taxes

    48       51  

Income tax provision

Loss on cash flow hedges, net

  $ (77)     $ (83)    

See Note 8 for more details regarding our derivative contracts.


Repurchasesof Class A Common Stock


In August 2011, our Board of Directors authorized the repurchase of up to 2,000,000 shares of our Class A common stock and, on July 20, 2012, our Board of Directors authorized the repurchase of 1,000,000 additional shares of our Class A common stock. Through March 31, 2015, we have repurchased 1,538,221 shares under this program at an average price of $32.68 per share. Of this amount, 38,445 shares were repurchased during the first quarter of 2015 at an average price of $90.87 per share for a total of $3.5 million. As of March 31, 2015, 1,461,779 shares remained available for repurchase pursuant to this program. The authority to repurchase does not have an expiration date.


In addition, during the first quarter of 2015, we repurchased 77,438 shares at an average price of $88.45, for a total of $6.8 million, related to tax withholdings associated with the vesting of restricted stock units. The repurchase of shares related to tax withholdings associated with stock awards does not reduce the number of shares available for repurchase as approved by our Board of Directors.


Dividends


Dividends paid on our Class A and Class B common stock were as follows:


Three Months Ended March 31,

 

Dividend

amount per

share

   

Total amount

of dividend

(in thousands)

 

2014

  $ 0.13     $ 3,378  

2015

    0.16       4,216  

See Note 14 for a discussion of a dividend related to our first quarter 2015 financial results.