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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
CURRENT ASSETS    
Cash and cash equivalents $ 37,740 $ 15,932
Contracts-in-transit and vehicle receivables, net 252,529 265,660
Accounts and notes receivable, net of allowance of $3.1 million and $3.2 million, respectively 188,489 193,981
Inventories, net 1,793,671 1,844,059
Prepaid expenses and other current assets 89,705 82,734
TOTAL CURRENT ASSETS 2,362,134 2,402,366
Property and equipment, net of accumulated depreciation of $369.1 million and $347.3 million, respectively 1,422,986 1,347,835
Operating lease assets 202,719  
Goodwill 963,502 963,925
Intangible franchise rights 259,540 259,630
Other assets 14,880 27,319
TOTAL ASSETS 5,225,761 5,001,075
CURRENT LIABILITIES    
Floorplan notes payable — credit facility and other, net of offset account of $69.3 million and $33.6 million, respectively 1,129,877 1,258,815
Floorplan notes payable — manufacturer affiliates, net of offset account of $0.2 million and $0.1 million, respectively 426,486 417,824
Current maturities of long-term debt 71,548 92,967
Current operating lease liabilities 23,504  
Accounts payable 485,908 419,350
Accrued expenses and other current liabilities 198,017 197,609
TOTAL CURRENT LIABILITIES 2,335,340 2,386,565
Long-term debt, net of current maturities 1,295,720 1,281,489
Operating lease liabilities, net of current portion 193,421  
Deferred income taxes 134,649 134,683
Other liabilities 102,566 102,644
Commitments and Contingencies (Note 10) 0 0
STOCKHOLDERS’ EQUITY    
Common stock, $0.01 par value, 50,000 shares authorized; 25,510 and 25,494 issued, respectively 255 255
Additional paid-in capital 288,197 292,774
Retained earnings 1,466,963 1,394,817
Accumulated other comprehensive income (loss) (152,530) (137,772)
Treasury stock, at cost; 6,927 and 7,172 shares, respectively (438,820) (454,380)
TOTAL STOCKHOLDERS’ EQUITY 1,164,065 1,095,694
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 5,225,761 $ 5,001,075