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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Net borrowings on 5.25% Senior Unsecured Notes $ 0 $ 296,250 $ 0
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income 147,065 93,999 93,004
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation and amortization 51,234 47,239 42,344
Deferred income taxes 14,162 11,884 12,319
Asset impairments 32,838 87,562 41,520
Stock-based compensation 21,073 18,851 16,012
Amortization of debt discount and issue costs 3,694 3,652 10,559
Loss on 3.00% Convertibles Notes repurchase 0 0 29,478
Loss on 2.25% Convertible Notes conversion and redemption 0 0 16,925
Gain on disposition of assets 2,675 9,719 15,994
Tax effect from excess stock-based compensation 249 (2,142) (1,841)
Other 835 3,334 4,686
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:      
Accounts payable and accrued expenses 76,126 25,108 37,344
Accounts and notes receivable (18,663) (17,887) (20,179)
Inventories 79,319 (186,634) 27,339
Contracts-in-transit and vehicle receivables (15,621) (17,944) (10,530)
Prepaid expenses and other assets 8,244 (3,153) (5,385)
Floorplan notes payable — manufacturer affiliates (12,630) 87,516 (78,822)
Deferred revenues (393) (619) (491)
Net cash provided by (used in) operating activities 384,857 141,047 198,288
CASH FLOWS FROM INVESTING ACTIVITIES:      
Cash paid in acquisitions, net of cash received (57,327) (212,252) (336,551)
Proceeds from disposition of franchises, property and equipment 36,843 41,581 144,597
Purchases of property and equipment, including real estate (156,521) (120,252) (150,392)
Other 2,965 6,421 (4,705)
Net cash provided by (used in) investing activities (174,040) (284,502) (347,051)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Borrowings on credit facility — floorplan line and other 6,597,406 7,557,237 7,832,014
Repayments on credit facility — floorplan line and other (6,676,161) (7,504,516) (7,802,719)
Borrowings on credit facility — acquisition line 220,020 489,548 389,368
Repayments on credit facility — acquisition line (220,020) (557,696) (379,681)
Net borrowings on 5.00% Senior Unsecured Notes 0 0 539,600
Debt issue costs 3,513 788 1,881
Repurchase of 3.00% Convertible Notes 0 0 (260,074)
Proceeds from Call/Warrant Unwind related to 3.00% Convertible Notes 0 0 32,697
Conversion and redemption of 2.25% Convertible Notes 0 0 (182,756)
Borrowings on other debt 49,972 59,855 91,137
Principal payments on other debt (45,928) (63,769) (85,905)
Borrowings on debt related to real estate (42,654) (32,026) (112,179)
Principal payments on debt related to real estate loans (25,463) (72,079) (59,950)
Net Issuance of Common and Treasury Shares to Employee Stock Compensation Plans 3,868 214 (321)
Repurchases of common stock, amounts based on settlement date (127,606) (97,473) (36,802)
Adjustment to Additional Paid in Capital, Income Tax Effect from Share-based Compensation, Net (249) 2,142 1,841
Dividends paid (19,987) (19,942) (17,097)
Net cash provided by (used in) financing activities (205,007) 121,009 171,650
EFFECT OF EXCHANGE RATE CHANGES ON CASH 2,145 (5,492) (2,127)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 7,955 (27,938) 20,760
CASH AND CASH EQUIVALENTS, beginning of period 13,037 40,975 20,215
CASH AND CASH EQUIVALENTS, end of period 20,992 13,037 40,975
SUPPLEMENTAL CASH FLOW INFORMATION:      
Purchases of property and equipment, including real estate, accrued in accounts payable and accrued expenses $ 15,930 $ 32,720 $ 21,166