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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 215,556 $ 181,620
Accounts receivable (less allowances for credit losses of $1,312 and $1,424, respectively) 162,677 183,704
Inventories, net 1,004,624 1,326,080
Prepaid expenses and other 15,482 20,728
Assets held for sale 0 419
Total current assets 1,398,339 1,712,551
Property and equipment, net 1,251,876 1,279,931
Operating lease right-of-use assets, net 57,266 57,197
Goodwill, net 292,142 292,142
Other assets, net 64,978 65,508
Total assets 3,064,601 3,407,329
Current liabilities:    
Floor plan notes payable 724,946 996,336
Current maturities of long-term debt 177,742 189,265
Current maturities of finance lease obligations 24,223 22,892
Current maturities of operating lease obligations 9,939 10,114
Trade accounts payable 98,011 133,697
Customer deposits 17,609 42,695
Accrued expenses 111,183 112,390
Total current liabilities 1,163,653 1,507,389
Long-term debt, net of current maturities 408,580 438,413
Finance lease obligations, net of current maturities 82,145 69,478
Operating lease obligations, net of current maturities 47,922 47,555
Other long-term liabilities 21,881 20,704
Deferred income taxes, net 153,860 164,297
Shareholders’ equity:    
Preferred stock, par value $.01 per share; 1,000,000 shares authorized; 0 shares outstanding in 2020 and 2019 0 0
Common stock, par value $.01 per share; 60,000,000 Class A shares and 20,000,000 Class B shares authorized; 27,728,493 Class A shares and 8,410,440 Class B shares outstanding in 2020; and 27,953,648 Class A shares and 8,240,486 Class B shares outstanding in 2019 471 465
Additional paid-in capital 414,812 397,267
Treasury stock, at cost: 5,610,906 Class A shares and 5,360,832 Class B shares in 2020 and 5,055,783 Class A shares and 5,306,341 Class B shares in 2019 (324,031) (304,129)
Retained earnings 1,095,976 1,065,553
Accumulated other comprehensive (loss) income (668) 337
Total shareholders’ equity 1,186,560 1,159,493
Total liabilities and shareholders’ equity $ 3,064,601 $ 3,407,329