XML 27 R16.htm IDEA: XBRL DOCUMENT
v3.5.0.2

Detail of Certain Balance Sheet Accounts Detail of Certain Balance Sheet Accounts | 9 Months Ended
--- | ---
Sep. 30, 2016
Balance Sheet Related Disclosures [Abstract] |
Detail Of Certain Balance Sheet Accounts | DETAIL OF CERTAIN BALANCE SHEET ACCOUNTS Accounts and notes receivable consisted of the following:
|  | September 30, 2016 |  | December 31, 2015
|  | (unaudited) |  |
|  | (In thousands)
Amounts due from manufacturers |  | $ | 92,700 |  |  | $ | 93,206 |
Parts and service receivables |  | 35,548 |  |  | 32,479 |
Finance and insurance receivables |  | 21,318 |  |  | 22,374 |
Other |  | 9,464 |  |  | 12,913 |
Total accounts and notes receivable |  | 159,030 |  |  | 160,972 |
Less allowance for doubtful accounts |  | 2,736 |  |  | 3,204 |
Accounts and notes receivable, net |  | $ | 156,294 |  |  | $ | 157,768 |
Inventories consisted of the following:
|  | September 30, 2016 |  | December 31, 2015
|  | (unaudited) |  |
|  | (In thousands)
New vehicles |  | $ | 1,166,128 |  |  | $ | 1,262,797 |
Used vehicles |  | 315,277 |  |  | 275,508 |
Rental vehicles |  | 137,600 |  |  | 134,509 |
Parts, accessories and other |  | 75,986 |  |  | 72,917 |
Total inventories |  | 1,694,991 |  |  | 1,745,731 |
Less lower of cost or market reserves |  | 7,612 |  |  | 7,980 |
Inventories, net |  | $ | 1,687,379 |  |  | $ | 1,737,751 |
New and used vehicles are valued at the lower of specific cost or market and are removed from inventory using the specific identification method. Parts and accessories are valued at lower of cost (determined on either a first-in, first-out or an average cost basis) or market. Property and equipment consisted of the following:
|  | Estimated Useful Lives in Years |  | September 30, 2016 |  | December 31, 2015
|  | (unaudited)
|  |  |  | (dollars in thousands)
Land |  | — |  | $ | 395,358 |  |  | $ | 364,475 |
Buildings |  | 25 to 50 |  | 545,669 |  |  | 505,414 |
Leasehold improvements |  | varies |  | 169,742 |  |  | 155,585 |
Machinery and equipment |  | 7 to 20 |  | 98,341 |  |  | 90,993 |
Furniture and fixtures |  | 3 to 10 |  | 87,603 |  |  | 82,688 |
Company vehicles |  | 3 to 5 |  | 11,714 |  |  | 11,603 |
Construction in progress |  | — |  | 69,511 |  |  | 58,361 |
Total |  |  |  | 1,377,938 |  |  | 1,269,119 |
Less accumulated depreciation |  |  |  | 259,153 |  |  | 235,138 |
Property and equipment, net |  |  |  | $ | 1,118,785 |  |  | $ | 1,033,981 |
During the nine months ended September 30, 2016, the Company incurred $78.9 million of capital expenditures for the construction of new or expanded facilities and the purchase of equipment and other fixed assets in the maintenance of the Company’s dealerships and facilities, excluding $32.7 million of capital expenditures accrued as of December 31, 2015. As of September 30, 2016, the Company had accrued $19.9 million of capital expenditures. In addition, the Company purchased real estate (including land and buildings) during the nine months ended September 30, 2016 associated with existing dealership operations totaling $34.0 million. And, in conjunction with the acquisition of dealerships and franchises in the nine months ended September 30, 2016, the Company acquired $28.8 million of real estate and other property and equipment. The Company recognized $2.0 million in asset impairments related to property and equipment for the nine months ended September 30, 2016. As of December 31, 2015, the Company determined that certain real estate investments qualified for held-for-sale treatment. As a result, the Company classified the carrying value, after adjustment to estimated fair market value, of the real estate, totaling $1.4 million, in prepaid and other current assets in its Consolidated Balance Sheets.

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

X
- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References No definition available. + Details
Name: | us-gaap_SupplementalBalanceSheetDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration