DETAIL OF CERTAIN BALANCE SHEET ACCOUNTS

Accounts and notes receivable consisted of the following:



	June 30, 2017		December 31, 2016
	(unaudited)
	(In thousands)
Amounts due from manufacturers	$	87,967	$	95,754
Parts and service receivables	36,293		35,318
Finance and insurance receivables	20,412		24,866
Other	16,486		20,322
Total accounts and notes receivable	161,158		176,260
Less allowance for doubtful accounts	2,616		2,896
Accounts and notes receivable, net	$	158,542	$	173,364

Inventories consisted of the following:



	June 30, 2017		December 31, 2016
	(unaudited)
	(In thousands)
New vehicles	$	1,279,416	$	1,156,383
Used vehicles	313,612		294,812
Rental vehicles	141,215		131,080
Parts, accessories and other	78,676		77,762
Total inventories	1,812,919		1,660,037
Less lower of cost or net realizable value	9,010		8,222
Inventories, net	$	1,803,909	$	1,651,815

New, used and rental vehicles are valued at the lower of specific cost or net realizable value 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 net realizable value.

Property and equipment consisted of the following:



	Estimated Useful Lives in Years	June 30, 2017		December 31, 2016
	(unaudited)
		(dollars in thousands)
Land	—	$	414,616	$	400,163
Buildings	25 to 50	578,768		553,961
Leasehold improvements	varies	186,444		170,060
Machinery and equipment	7 to 20	111,310		100,164
Furniture and fixtures	3 to 10	93,760		87,691
Company vehicles	3 to 5	11,757		11,632
Construction in progress	—	61,602		66,658
Total		1,458,257		1,390,329
Less accumulated depreciation		290,912		264,446
Property and equipment, net		$	1,167,345	$	1,125,883

During the six months ended June 30, 2017, the Company incurred $48.4 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 $15.9 million of capital expenditures accrued as of December 31, 2016. As of June 30, 2017, the Company had accrued $11.1 million of capital expenditures. In addition, the Company purchased real estate (including land and buildings) during the six months ended June 30, 2017 associated with existing dealership operations totaling $14.0 million.