XML 58 R37.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Credit Facilities and Long-term Debt (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2019
Debt Disclosure [Abstract] |
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 millions):
December 31, |  | 2019 |  | 2018
Floor plan notes payable: non-trade |  | $ | 1,642.4 |  |  | $ | 1,733.3 |
Floor plan notes payable |  | 425.2 |  |  | 324.4 |
Total floor plan debt |  | $ | 2,067.6 |  |  | $ | 2,057.7 |
Used and service loaner vehicle inventory financing commitments |  | $ | 149.0 |  |  | $ | 332.0 |
Revolving lines of credit |  | — |  |  | 131.6 |
Real estate mortgages |  | 597.7 |  |  | 592.3 |
5.250% Senior notes due 2025 |  | 300.0 |  |  | 300.0 |
4.625% Senior notes due 2027 |  | 400.0 |  |  | — |
Other debt |  | 33.6 |  |  | 34.2 |
Total long-term debt outstanding |  | 1,480.3 |  |  | 1,390.1 |
Less: unamortized debt issuance costs |  | (10.4 | ) |  | (6.0 | )
Less: current maturities (net of current debt issuance costs) |  | (39.3 | ) |  | (25.9 | )
Long-term debt |  | $ | 1,430.6 |  |  | $ | 1,358.2 |
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, 2019
Current ratio |  | Not less than 1.10 to 1 |  | 1.31 to 1
Fixed charge coverage ratio |  | Not less than 1.20 to 1 |  | 2.88 to 1
Leverage ratio |  | Not more than 5.75 to 1 |  | 2.62 to 1
Schedule of Maturities of Long-term Debt | The schedule of future principal payments associated with real estate mortgages, our Senior Notes and other debt as of December 31, 2019 was as follows (in millions):
Year Ending December 31, |  |
2020 |  | $ | 41.9 |
2021 |  | 49.5 |
2022 |  | 65.8 |
2023 |  | 60.4 |
2024 |  | 77.6 |
Thereafter |  | 1,036.1 |
Total principal payments |  | $ | 1,331.3 |

X
- Definition Tabular disclosure of the terms of a debt covenant. + References No definition available. + Details
Name: | lad_DebtCovenantTermsTableTextBlock
Namespace Prefix: | lad_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601 + Details
Name: | us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration