Credit Facilities and Long-term Debt (Tables)

12 Months Ended

Dec. 31, 2017

Summary of Outstanding Balances on Credit Facilities and Long-term Debt

Below is a summary of our outstanding balances on credit facilities and long-term debt (in thousands):



December 31,	2017			2016
Floor plan notes payable: non-trade	$	1,802,252		$	1,506,895
Floor plan notes payable	116,774			94,602
Total floor plan debt	$	1,919,026		$	1,601,497

Used vehicle inventory financing facility	$	177,222		$	211,000
Revolving lines of credit	94,568			142,507
Real estate mortgages	469,969			428,367
5.25% Senior notes due 2025	300,000			—
Other debt	12,512			11,191
Total long-term debt outstanding	1,054,271			793,065
Less: unamortized debt issuance costs	(6,919		)	(2,184		)
Less: current maturities (net of current debt issuance costs)	(18,876		)	(20,965		)
Long-term debt	$	1,028,476		$	769,916

Schedule of Debt Covenant Terms

Under our credit facility, we are required to maintain the ratios detailed in the following table:



Debt Covenant Ratio	Requirement	As of December 31, 2017
Current ratio	Not less than 1.10 to 1	1.21 to 1
Fixed charge coverage ratio	Not less than 1.20 to 1	2.82 to 1
Leverage ratio	Not more than 5.00 to 1	2.59 to 1

Schedule of Maturities of Long-term Debt

The schedule of future principal payments associated with real estate mortgages, our 5.25% Senior Notes and other debt as of December 31, 2017 was as follows (in thousands):



Year Ending December 31,
2018	$	18,948
2019	47,888
2020	40,236
2021	43,291
2022	61,103
Thereafter	571,014
Total principal payments	$	782,480