XML 41 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (Unaudited) (USD $)
 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Cash flows from operating activities:    
Net income $ 48,237,000 $ 35,830,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 53,196,000 41,220,000
Gain on sale of property and equipment (136,000) (457,000)
Stock-based compensation expense related to stock options and employee stock purchases 6,045,000 4,756,000
Provision (benefit) for deferred income tax expense 19,341,000 16,560,000
Excess tax benefits from stock-based compensation (1,433,000) (1,244,000)
Change in accounts receivable, net 6,019,000 (29,536,000)
Change in inventories (49,735,000) (161,532,000)
Change in prepaid expenses and other, net 7,999,000 8,813,000
Change in trade accounts payable 3,658,000 16,513,000
Draws on floor plan notes payable – trade, net 36,790,000  
Change in accrued expenses (40,982,000) 18,580,000
Net cash provided by(used in) by operating activities 88,999,000 (50,497,000)
Cash flows from investing activities:    
Acquisition of property and equipment (130,057,000) (100,382,000)
Proceeds from the sale of property and equipment 1,156,000 10,526,000
Business acquisitions (36,000) (60,038,000)
Change in other assets (729,000) (82,000)
Net cash (used in) investing activities (129,666,000) (149,976,000)
Cash flows from financing activities:    
Draws on floor plan notes payable – non-trade, net 17,728,000 186,347,000
Proceeds from long-term debt 102,731,000 86,662,000
Principal payments on long-term debt (55,212,000) (52,214,000)
Principal payments on capital lease obligations (7,963,000) (10,166,000)
Debt issuance costs   (96,000)
Excess tax benefits from stock-based compensation 1,433,000 1,244,000
Proceeds from issuance of shares relating to employee stock options and employee stock purchases 4,478,000 2,965,000
Net cash provided by financing activities 63,195,000 214,742,000
Net increase in cash and cash equivalents 22,528,000 14,269,000
Cash and cash equivalents, beginning of period 207,775,000 168,976,000
Cash and cash equivalents, end of period 230,303,000 183,245,000
Supplemental disclosure of cash flow information:    
Interest 17,553,000 10,573,000
Income taxes, net of refunds 3,271,000 (2,709,000)
Noncash investing activities:    
Assets acquired under capital leases $ 10,409,000 $ 11,342,000