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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net income $ 155,813 $ 145,739
Adjustments to reconcile net income to net cash provided by operating activities:    
Asset impairments 0 10,494
Depreciation and amortization 41,598 36,372
Stock-based compensation 8,396 8,665
Gain on disposal of other assets (382) (4,299)
Gain on disposal of franchise 0 (1,102)
Deferred income taxes 7,398 9,782
(Increase) decrease (net of acquisitions and dispositions):    
Trade receivables, net (13,345) (5,911)
Inventories (16,098) (85,564)
Other assets 15,207 4,688
Increase (net of acquisitions and dispositions):    
Floor plan notes payable 12,126 18,122
Trade payables 12,397 6,153
Accrued liabilities 25,907 32,874
Other long-term liabilities and deferred revenue 11,519 18,227
Net cash provided by operating activities 260,536 194,240
Cash flows from investing activities:    
Capital expenditures (72,174) (81,363)
Proceeds from sales of assets 12,327 1,756
Cash paid for other investments (7,929) (22,279)
Cash paid for acquisitions, net of cash acquired (400,558) (199,435)
Proceeds from sales of stores 3,417 11,837
Net cash used in investing activities (464,917) (289,484)
Cash flows from financing activities:    
Borrowings on floor plan notes payable, net: non-trade 34,056 93,817
Borrowings on lines of credit 1,306,000 841,623
Repayments on lines of credit (1,432,853) (744,494)
Principal payments on long-term debt and capital leases, scheduled (13,697) (12,278)
Principal payments on long-term debt and capital leases, other (46,471) (5,903)
Proceeds from issuance of long-term debt 395,905 22,816
Payments of debt issuance costs (4,517) 0
Proceeds from issuance of common stock 5,577 5,191
Repurchase of common stock (31,521) (108,597)
Dividends paid (19,803) (17,823)
Net cash provided by financing activities 192,676 74,352
Decrease in cash and cash equivalents (11,705) (20,892)
Cash and cash equivalents at beginning of period 50,282 45,008
Cash and cash equivalents at end of period 38,577 24,116
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest 51,160 36,641
Cash paid during the period for income taxes, net 89,206 29,478
Floor plan debt paid in connection with store disposals 0 5,284
Supplemental schedule of non-cash activities:    
Debt issued in connection with acquisitions 1,748 0
Non-cash assets transferred in connection with acquisitions 0 2,637
Debt assumed in connection with acquisitions 86,902 19,657
Issuance of Class A common stock in connection with acquisitions $ 2,137 $ 0