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Note 13 - Subsequent Events | 6 Months Ended
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Jun. 30, 2016
Notes to Financial Statements |
Subsequent Events [Text Block] | Note 13. Subsequent Events Common Stock Dividend On July 25, 2016, our Board of Directors approved a dividend of $0.25 per share on our Class A and Class B common stock related to our second quarter 2016 financial results. The dividend will total approximately $6.4 million and will be paid on August 26, 2016 to shareholders of record on August 12, 2016. Credit Facility On July 27, 2016, we amended our existing credit facility to increase the total financing commitment by $300 million to $2.05 billion and extend the maturity to July 2021. This syndicated credit facility is comprised of 18 financial institutions, including eight manufacturer-affiliated finance companies. Under our credit facility we are permitted to allocate the total financing commitment among floor plan financing for new vehicle inventory, floor plan financing for used vehicles (up to a maximum of $350 million) and revolving financing for general corporate purposes, including acquisitions and working capital (up to a maximum of $400 million). Our credit facility may be expanded to $2.4 billion total availability, subject to lender approval. All borrowings from, and repayments to, our lending group are presented in the Consolidated Statements of Cash Flows as financing activities.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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