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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
CURRENT ASSETS:    
Cash and cash equivalents $ 15,932 $ 28,787
Contracts-in-transit and vehicle receivables, net 265,660 306,433
Accounts and notes receivable, net 193,981 188,611
Inventories, net 1,844,059 1,763,293
Prepaid expenses and other current assets 82,734 42,062
Total current assets 2,402,366 2,329,186
PROPERTY AND EQUIPMENT, net 1,347,835 1,318,959
GOODWILL 963,925 913,034
INTANGIBLE FRANCHISE RIGHTS 259,630 285,632
OTHER ASSETS 27,319 24,254
Total assets 5,001,075 4,871,065
CURRENT LIABILITIES:    
Floorplan notes payable — credit facility and other 1,292,452 1,240,695
Offset account related to floorplan notes payable - credit facility (33,637) (86,547)
Floorplan notes payable — manufacturer affiliates 417,924 397,183
Offset account related to floorplan notes payable - manufacturer affiliates (100) (22,500)
Current maturities of long-term debt and short-term financing 92,967 77,609
Current liabilities from interest rate risk management activities 115 1,996
Accounts payable 419,350 412,981
Accrued expenses 197,494 177,070
Total current liabilities 2,386,565 2,198,487
LONG-TERM DEBT, net of current maturities 1,281,489 1,318,184
DEFERRED INCOME TAXES 134,683 124,404
LIABILITIES FROM INTEREST RATE RISK MANAGEMENT ACTIVITIES 1,696 8,583
OTHER LIABILITIES 100,948 97,125
COMMITMENTS AND CONTINGENCIES (NOTE 15)
STOCKHOLDERS’ EQUITY:    
Preferred stock, $0.01 par value, 1,000 shares authorized; none issued or outstanding 0 0
Common stock, $0.01 par value, 50,000 shares authorized; 25,494 and 25,515 issued, respectively 255 255
Additional paid-in capital 292,774 291,461
Retained earnings 1,394,817 1,246,323
Accumulated other comprehensive income (loss) (137,772) (123,226)
Treasury stock, at cost; 7,172 and 4,617 shares, respectively (454,380) (290,531)
Total stockholders’ equity 1,095,694 1,124,282
Total liabilities and stockholders’ equity $ 5,001,075 $ 4,871,065