XML 20 R9.htm IDEA: XBRL DOCUMENT v3.4.0.3
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 34,291 $ 35,815
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 12,464 11,684
Deferred income taxes 5,000 3,320
ASSET IMPAIRMENTS 932 0
Stock-based compensation 5,511 4,888
Amortization of debt discount and issue costs 484 899
Gain (Loss) on Disposition of Assets 590 (8)
Tax effect from excess stock-based compensation 53 (1,004)
Other 666 1,729
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:    
Accounts payable and accrued expenses 32,180 (10,329)
Accounts and notes receivable 10,804 6,275
Inventories (55,737) (1,469)
Contracts-in-transit and vehicle receivables 50,262 10,487
Prepaid expenses and other assets 4,476 2,589
IncreaseDecreaseFloorPlanNotes 15,410 (6,589)
Deferred revenues (131) (136)
Net cash provided by (used in) operating activities 116,075 58,167
CASH FLOWS FROM INVESTING ACTIVITIES:    
Cash paid in acquisitions, net of cash received (51,110) (50,142)
Proceeds from disposition of franchises, property and equipment 13,871 1,171
Purchases of property and equipment, including real estate (33,702) (23,157)
Other (106) 287
Net cash used in investing activities (71,047) (71,841)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings on credit facility - Floorplan Line 1,648,527 1,597,034
Repayments on credit facility - Floorplan Line (1,666,103) (1,641,072)
Borrowings on credit facility - acquisition line 40,000 189,933
Repayment on credit facility - acquisition line (40,000) (135,907)
Borrowings of other long-term debt 7,415 13,678
Principal payments of other long-term debt (12,768) (10,644)
Borrowings Of Long Term Debt Related To Real Estate Loans, Net of Debt Issue Costs 30,331 17,600
Principal payments of long-term debt related to real estate loans (5,538) (6,458)
Net Issuance of Common and Treasury Shares to Employee Stock Compensation Plans (1,243) (2,140)
Repurchases of common stock, amounts based on settlement date (31,945) (16,175)
Adjustment to Additional Paid in Capital, Income Tax Effect from Share-based Compensation, Net (53) 1,004
Dividends paid (5,148) (4,892)
Net cash provided by (used in) financing activities (36,525) 1,961
Effect of Exchange Rate on Cash and Cash Equivalents 841 (2,983)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 9,344 (14,696)
CASH AND CASH EQUIVALENTS, beginning of period 13,037 40,975
CASH AND CASH EQUIVALENTS, end of period 22,381 26,279
SUPPLEMENTAL CASH FLOW INFORMATION:    
Purchases of property and equipment, including real estate, accrued in accounts payable and accrued expenses $ 22,274 $ 10,035