$ABG
ASBURY AUTOMOTIVE GROUP INC

2011 Q2 Form 10-Q Financial Statement

#000114498011000105 Filed on July 27, 2011

View on sec.gov

Income Statement

Concept 2011 Q2 2010 Q2
Revenue $1.038B $999.3M
YoY Change 3.85% 6.67%
Cost Of Revenue $882.6M $832.9M
YoY Change 5.97% 6.59%
Gross Profit $181.2M $166.4M
YoY Change 8.89% 7.08%
Gross Profit Margin 17.46% 16.65%
Selling, General & Admin $140.5M $127.2M
YoY Change 10.46% 12.77%
% of Gross Profit 77.54% 76.44%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.700M $5.200M
YoY Change 9.62% -8.77%
% of Gross Profit 3.15% 3.13%
Operating Expenses $140.5M $127.2M
YoY Change 10.46% -2.6%
Operating Profit $37.10M $34.60M
YoY Change 7.23% 39.52%
Interest Expense -$12.80M -$13.20M
YoY Change -3.03% -6.38%
% of Operating Profit -34.5% -38.15%
Other Income/Expense, Net -$14.30M -$13.20M
YoY Change 8.33%
Pretax Income $22.80M $21.40M
YoY Change 6.54% 100.0%
Income Tax $8.800M $8.300M
% Of Pretax Income 38.6% 38.79%
Net Earnings $14.20M $12.80M
YoY Change 10.94% 132.73%
Net Earnings / Revenue 1.37% 1.28%
Basic Earnings Per Share $0.44 $0.40
Diluted Earnings Per Share $0.43 $0.39
COMMON SHARES
Basic Shares Outstanding 32.10M shares 32.20M shares
Diluted Shares Outstanding 32.90M shares 33.00M shares

Balance Sheet

Concept 2011 Q2 2010 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $23.20M $27.00M
YoY Change -14.07% -35.56%
Cash & Equivalents $23.20M $27.00M
Short-Term Investments
Other Short-Term Assets $51.90M $142.9M
YoY Change -63.68% -13.02%
Inventory $482.9M $517.2M
Prepaid Expenses
Receivables $67.60M $81.50M
Other Receivables $0.00 $0.00
Total Short-Term Assets $710.3M $768.6M
YoY Change -7.59% -6.42%
LONG-TERM ASSETS
Property, Plant & Equipment $493.0M $441.9M
YoY Change 11.56% -5.76%
Goodwill $18.80M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $64.30M $128.2M
YoY Change -49.84% -5.8%
Total Long-Term Assets $627.9M $570.1M
YoY Change 10.14% -5.77%
TOTAL ASSETS
Total Short-Term Assets $710.3M $768.6M
Total Long-Term Assets $627.9M $570.1M
Total Assets $1.338B $1.339B
YoY Change -0.04% -6.14%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $183.8M $153.4M
YoY Change 19.82% 6.6%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $271.4M $351.8M
YoY Change -22.85% -22.87%
Long-Term Debt Due $17.00M $21.50M
YoY Change -20.93% 150.0%
Total Short-Term Liabilities $472.2M $526.7M
YoY Change -10.35% -15.93%
LONG-TERM LIABILITIES
Long-Term Debt $526.8M $513.4M
YoY Change 2.61% -4.73%
Other Long-Term Liabilities $28.00M $32.90M
YoY Change -14.89% 19.2%
Total Long-Term Liabilities $554.8M $546.3M
YoY Change 1.56% -3.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $472.2M $526.7M
Total Long-Term Liabilities $554.8M $546.3M
Total Liabilities $1.027B $1.073B
YoY Change -4.29% -10.06%
SHAREHOLDERS EQUITY
Retained Earnings -$61.60M
YoY Change
Common Stock $470.8M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $92.70M
YoY Change
Treasury Stock Shares 5.830M shares
Shareholders Equity $311.2M $265.7M
YoY Change
Total Liabilities & Shareholders Equity $1.338B $1.339B
YoY Change -0.04% -6.14%

Cashflow Statement

Concept 2011 Q2 2010 Q2
OPERATING ACTIVITIES
Net Income $14.20M $12.80M
YoY Change 10.94% 132.73%
Depreciation, Depletion And Amortization $5.700M $5.200M
YoY Change 9.62% -8.77%
Cash From Operating Activities $42.80M $4.600M
YoY Change 830.43% -135.38%
INVESTING ACTIVITIES
Capital Expenditures -$18.00M -$4.100M
YoY Change 339.02% 57.69%
Acquisitions
YoY Change
Other Investing Activities $15.80M $1.400M
YoY Change 1028.57% -92.59%
Cash From Investing Activities -$2.200M -$2.700M
YoY Change -18.52% -116.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -25.30M -4.300M
YoY Change 488.37% -248.28%
NET CHANGE
Cash From Operating Activities 42.80M 4.600M
Cash From Investing Activities -2.200M -2.700M
Cash From Financing Activities -25.30M -4.300M
Net Change In Cash 15.30M -2.400M
YoY Change -737.5% -138.71%
FREE CASH FLOW
Cash From Operating Activities $42.80M $4.600M
Capital Expenditures -$18.00M -$4.100M
Free Cash Flow $60.80M $8.700M
YoY Change 598.85% -183.65%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2010Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
170100000 USD
CY2011Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
183800000 USD
CY2011Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-5300000 USD
CY2010Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-6000000 USD
CY2010Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
463400000 USD
CY2011Q2 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
470400000 USD
CY2010Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
700000 USD
CY2011Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1300000 USD
CY2010Q2 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
400000 USD
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
500000 USD
CY2011Q2 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
300000 USD
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
800000 USD
CY2011Q2 us-gaap Assets
Assets
1338200000 USD
CY2010Q4 us-gaap Assets
Assets
1486300000 USD
CY2011Q2 us-gaap Assets Current
AssetsCurrent
710300000 USD
CY2010Q4 us-gaap Assets Current
AssetsCurrent
876800000 USD
CY2011Q2 us-gaap Assets Held For Sale Current
AssetsHeldForSaleCurrent
3200000 USD
CY2010Q4 us-gaap Assets Held For Sale Current
AssetsHeldForSaleCurrent
60700000 USD
CY2011Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
23200000 USD
CY2010Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
21300000 USD
CY2010Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
27000000 USD
CY2009Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
84700000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-57700000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
1900000 USD
CY2011Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2010Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2010Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2011Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2010Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
90000000 shares
CY2011Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
90000000 shares
CY2010Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
37597481 shares
CY2011Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
38082705 shares
CY2010Q4 us-gaap Common Stock Value
CommonStockValue
400000 USD
CY2011Q2 us-gaap Common Stock Value
CommonStockValue
400000 USD
us-gaap Cost Of Revenue
CostOfRevenue
1774000000 USD
CY2010Q2 us-gaap Cost Of Revenue
CostOfRevenue
832900000 USD
CY2011Q2 us-gaap Cost Of Revenue
CostOfRevenue
897300000 USD
us-gaap Cost Of Revenue
CostOfRevenue
1566800000 USD
us-gaap Cost Of Services
CostOfServices
128600000 USD
CY2011Q2 us-gaap Cost Of Services
CostOfServices
66300000 USD
us-gaap Cost Of Services
CostOfServices
131900000 USD
CY2010Q2 us-gaap Cost Of Services
CostOfServices
64500000 USD
us-gaap Cost Of Services Depreciation And Amortization
CostOfServicesDepreciationAndAmortization
3200000 USD
us-gaap Cost Of Services Depreciation And Amortization
CostOfServicesDepreciationAndAmortization
4100000 USD
CY2011Q2 us-gaap Debt Current
DebtCurrent
17000000 USD
CY2010Q4 us-gaap Debt Current
DebtCurrent
8900000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
8100000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
6900000 USD
CY2011Q2 us-gaap Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
9900000 USD
CY2010Q4 us-gaap Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
7600000 USD
CY2010Q4 us-gaap Deferred Tax Assets Net Noncurrent
DeferredTaxAssetsNetNoncurrent
61500000 USD
CY2011Q2 us-gaap Deferred Tax Assets Net Noncurrent
DeferredTaxAssetsNetNoncurrent
51800000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
11100000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
10600000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
10600000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
11100000 USD
CY2011Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
5800000 USD
CY2010Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
5200000 USD
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.63
CY2011Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.44
CY2010Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.4
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.06
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.62
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.03
CY2011Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.43
CY2010Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.39
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
700000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
0 USD
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
0 USD
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
700000 USD
us-gaap Gain Loss On Sale Of Property
GainLossOnSaleOfProperty
0 USD
us-gaap Gain Loss On Sale Of Property
GainLossOnSaleOfProperty
26800000 USD
CY2011Q2 us-gaap Goodwill
Goodwill
18800000 USD
CY2010Q4 us-gaap Goodwill
Goodwill
18900000 USD
us-gaap Gross Profit
GrossProfit
321000000 USD
CY2011Q2 us-gaap Gross Profit
GrossProfit
188900000 USD
us-gaap Gross Profit
GrossProfit
361800000 USD
CY2010Q2 us-gaap Gross Profit
GrossProfit
166400000 USD
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
22100000 USD
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
18900000 USD
CY2010Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
13100000 USD
CY2011Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
14200000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
30800000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
36100000 USD
CY2010Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
21400000 USD
CY2011Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
23200000 USD
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.69
CY2011Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.44
CY2010Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.41
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.59
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.67
CY2010Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.4
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.57
CY2011Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.43
CY2011Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
0 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
15200000 USD
CY2010Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-300000 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-1900000 USD
CY2010Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.01
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.06
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.47
CY2011Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.00
CY2011Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.00
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.46
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
-0.05
CY2010Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
-0.01
CY2011Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9000000 USD
CY2010Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
8300000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
14000000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
11900000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
4800000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
12900000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-23200000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
14100000 USD
us-gaap Increase Decrease In Contract Receivables Net
IncreaseDecreaseInContractReceivablesNet
-9000000 USD
us-gaap Increase Decrease In Contract Receivables Net
IncreaseDecreaseInContractReceivablesNet
1300000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-77500000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
900000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
16700000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
20700000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-2300000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-300000 USD
CY2010Q2 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
100000 shares
CY2011Q2 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
100000 shares
us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
0 shares
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
3300000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-6800000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-37100000 USD
CY2011Q2 us-gaap Net Income Loss
NetIncomeLoss
14200000 USD
us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
100000 shares
us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
100000 shares
us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
200000 shares
CY2010Q2 us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
200000 shares
CY2011Q2 us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
100000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
500000 shares
CY2011Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
600000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
600000 shares
CY2010Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
500000 shares
us-gaap Interest Expense Other
InterestExpenseOther
18000000 USD
CY2010Q2 us-gaap Interest Expense Other
InterestExpenseOther
9000000 USD
us-gaap Interest Expense Other
InterestExpenseOther
20800000 USD
CY2011Q2 us-gaap Interest Expense Other
InterestExpenseOther
10300000 USD
CY2011Q2 us-gaap Inventory Net
InventoryNet
482900000 USD
CY2010Q4 us-gaap Inventory Net
InventoryNet
547400000 USD
CY2011Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1338200000 USD
CY2010Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1486300000 USD
CY2010Q4 us-gaap Liabilities Current
LiabilitiesCurrent
635800000 USD
CY2011Q2 us-gaap Liabilities Current
LiabilitiesCurrent
472200000 USD
CY2011Q2 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
0 USD
CY2010Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
32200000 USD
CY2011Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
526800000 USD
CY2010Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
534900000 USD
us-gaap Nature Of Operations
NatureOfOperations
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-left:96px;text-indent:-96px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">DESCRIPTION OF BUSINESS</font></div><div style="line-height:120%;padding-top:6px;text-indent:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We are one of the largest automotive retailers in the United States, operating 99 franchises (80 dealership locations) in 19 metropolitan markets within 10 states as of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">June&#160;30, 2011</font><font style="font-family:inherit;font-size:10pt;">. We offer an extensive range of automotive products and services, including new and used vehicles; vehicle maintenance, replacement parts and collision repair services; and financing, insurance and service contracts. As of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">June&#160;30, 2011</font><font style="font-family:inherit;font-size:10pt;">, we offered 29 domestic and foreign brands of new vehicles. Our current brand mix is weighted 86% towards luxury and mid-line import brands, with the remaining 14% consisting of domestic brands. We also operate 25 collision repair centers that serve customers in our local markets.</font></div><div style="line-height:120%;padding-top:12px;text-indent:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our retail network is made up of dealerships operating primarily under the following locally-branded dealership groups:</font></div><div style="line-height:120%;font-size:5pt;"><font style="font-family:inherit;font-size:5pt;">&#160;</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt; width:100%;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top;padding-left:24px;" rowspan="1" colspan="1"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Coggin dealerships, operating primarily in Jacksonville, Fort Pierce and Orlando, Florida;</font></div></td></tr></table><div style="line-height:120%;font-size:5pt;"><font style="font-family:inherit;font-size:5pt;">&#160;</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt; width:100%;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top;padding-left:24px;" rowspan="1" colspan="1"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Courtesy dealerships operating in Tampa, Florida;</font></div></td></tr></table><div style="line-height:120%;font-size:5pt;"><font style="font-family:inherit;font-size:5pt;">&#160;</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt; width:100%;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top;padding-left:24px;" rowspan="1" colspan="1"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Crown dealerships operating in New Jersey, North Carolina, South Carolina and Virginia;</font></div></td></tr></table><div style="line-height:120%;font-size:5pt;"><font style="font-family:inherit;font-size:5pt;">&#160;</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt; width:100%;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top;padding-left:24px;" rowspan="1" colspan="1"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Nalley dealerships operating in Atlanta, Georgia;</font></div></td></tr></table><div style="line-height:120%;font-size:5pt;"><font style="font-family:inherit;font-size:5pt;">&#160;</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt; width:100%;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top;padding-left:24px;" rowspan="1" colspan="1"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">McDavid dealerships operating in primarily in Dallas and Houston, Texas;</font></div></td></tr></table><div style="line-height:120%;font-size:5pt;"><font style="font-family:inherit;font-size:5pt;">&#160;</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt; width:100%;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top;padding-left:24px;" rowspan="1" colspan="1"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">North Point dealerships operating in Little Rock, Arkansas;</font></div></td></tr></table><div style="line-height:120%;font-size:5pt;"><font style="font-family:inherit;font-size:5pt;">&#160;</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt; width:100%;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top;padding-left:24px;" rowspan="1" colspan="1"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Plaza dealerships operating in St. Louis, Missouri; and</font></div></td></tr></table><div style="line-height:120%;font-size:5pt;"><font style="font-family:inherit;font-size:5pt;">&#160;</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt; width:100%;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top;padding-left:24px;" rowspan="1" colspan="1"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Gray-Daniels dealerships operating in Jackson, Mississippi.</font></div></td></tr></table><div style="line-height:120%;text-indent:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"></br></font></div></div>
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-23900000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-41900000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
50600000 USD
us-gaap Net Income Loss
NetIncomeLoss
20200000 USD
CY2010Q2 us-gaap Net Income Loss
NetIncomeLoss
12800000 USD
us-gaap Net Income Loss
NetIncomeLoss
34100000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-26700000 USD
CY2011Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-14300000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-29100000 USD
CY2010Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-13200000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
62800000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
59900000 USD
CY2010Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
34600000 USD
CY2011Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
37500000 USD
CY2010Q4 us-gaap Other Assets Current
OtherAssetsCurrent
56600000 USD
CY2011Q2 us-gaap Other Assets Current
OtherAssetsCurrent
51900000 USD
CY2010Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
70200000 USD
CY2011Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
64300000 USD
CY2011Q2 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
2800000 USD
us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
13200000 USD
us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
-1300000 USD
CY2010Q2 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
-600000 USD
CY2010Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
28500000 USD
CY2011Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
28000000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-3700000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-8100000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-600000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
400000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
17700000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
300000 USD
us-gaap Payments To Acquire And Develop Real Estate
PaymentsToAcquireAndDevelopRealEstate
600000 USD
us-gaap Payments To Acquire And Develop Real Estate
PaymentsToAcquireAndDevelopRealEstate
0 USD
us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
0 USD
us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
30300000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
7500000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
11000000 USD
CY2010Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2011Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2011Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2010Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2011Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2010Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2011Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2010Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2011Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2010Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
us-gaap Proceeds From Sale And Collection Of Receivables
ProceedsFromSaleAndCollectionOfReceivables
11200000 USD
us-gaap Proceeds From Sale And Collection Of Receivables
ProceedsFromSaleAndCollectionOfReceivables
11600000 USD
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
91900000 USD
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
11200000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1000000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
300000 USD
CY2011Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
493000000 USD
CY2010Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
458900000 USD
CY2010Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
102600000 USD
CY2011Q2 us-gaap Receivables Net Current
ReceivablesNetCurrent
67600000 USD
us-gaap Reclassifications
Reclassifications
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-left:96px;text-indent:-96px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">RECLASSIFICATION OF PRIOR PERIOD FINANCIAL STATEMENTS</font></div><div style="line-height:120%;padding-top:12px;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We have previously presented the earnings impact associated with our various derivative financial instruments as components of Floor Plan Interest Expense and Other Interest Expense on our Condensed Consolidated Statements of Income. Our various derivative financial instruments, which include fair value and cash flow interest rate swaps, have been designed to provide hedges against changes in fair value of certain debt obligations and variable rate cash flows. Our earnings have been impacted by these interest rate swaps in the form of (i) amounts reclassified from Accumulated Other Comprehensive Income ("AOCI") to earnings for active swaps, (ii) amortization of amounts reclassified from AOCI to earnings for terminated cash flow swaps and (iii) amortization of terminated fair value swaps. In order to more clearly show the earnings impact associated with our various derivative financial instruments, we now separately disclose "Swap Interest Expense" on our Condensed Consolidated Statements of Income and reclassified the appropriate amounts from Floor Plan Interest Expense and Other Interest Expense to Swap Interest Expense. These reclassifications did not have any impact on income from continuing operations, earnings per share or retained earnings. </font></div><div style="line-height:120%;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"></br></font></div><div style="line-height:120%;text-indent:18px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:95.8984375%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td width="67%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="14%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="14%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">For the Three Months Ended June 30,</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">For the Six Months Ended June 30,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">2010</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">2010</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">(In&#160;millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Floor plan interest expense, previously reported</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(4.0</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(8.1</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Swap interest expense previously included in floor plan interest expense</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1.3</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"></br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2.6</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"></br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Floor plan interest expense of franchises placed into discontinued operations between June 30, 2010 and June 30, 2011</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.5</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"></br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.9</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"></br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Floor plan interest expense</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(2.2</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(4.6</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"></br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:97.8515625%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td width="69%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="13%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="13%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">For the Three Months Ended June 30,</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">For the Six Months Ended June 30,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">2010</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">2010</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">(In&#160;millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other interest expense, previously reported</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(9.5</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(18.9</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Swap interest expense previously included in other interest expense</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.3</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"></br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.7</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"></br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other interest expense of franchises placed into discontinued operations between June 30, 2010 and June 30, 2011</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.2</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"></br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.2</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"></br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other interest expense, net</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(9.0</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(18.0</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"></br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:97.8515625%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td width="69%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="13%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="13%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">For the Three Months Ended June 30,</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">For the Six Months Ended June 30,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">2010</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">2010</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">(In&#160;millions)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Swap interest expense, previously reported</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"></br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"></br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Swap interest expense previously included in floor plan interest expense</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1.3</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(2.6</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Swap interest expense previously included in other interest expense</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(0.3</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(0.7</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Swap interest expense</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1.6</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(3.3</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr></table></div></div><div style="line-height:120%;padding-top:12px;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"></br></font></div><div style="line-height:120%;padding-top:12px;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> In addition, we have reclassified our Condensed Consolidated Statement of Income for the three and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">six months ended June 30, 2010</font><font style="font-family:inherit;font-size:10pt;"> to reflect the current status of our discontinued operations and we have made certain other immaterial reclassifications of prior period amounts to be consistent with current period presentation.</font></div></div>
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
4200000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
9500000 USD
CY2011Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-61600000 USD
CY2010Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-95700000 USD
us-gaap Revenues
Revenues
2135800000 USD
us-gaap Revenues
Revenues
1887800000 USD
CY2011Q2 us-gaap Revenues
Revenues
1086200000 USD
CY2010Q2 us-gaap Revenues
Revenues
999300000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
278500000 USD
CY2011Q2 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
149200000 USD
CY2010Q2 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
141000000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
293800000 USD
CY2011Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
142800000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
277600000 USD
CY2010Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
127200000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
248900000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3100000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
5200000 USD
CY2010Q4 us-gaap Stockholders Equity
StockholdersEquity
287100000 USD
CY2011Q2 us-gaap Stockholders Equity
StockholdersEquity
311200000 USD
CY2010Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
4799188 shares
CY2011Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
5829934 shares
CY2011Q2 us-gaap Treasury Stock Value
TreasuryStockValue
92700000 USD
CY2010Q4 us-gaap Treasury Stock Value
TreasuryStockValue
75000000 USD
CY2010Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33000000 shares
CY2010Q2 abg Used Vehicle Cost Of Sales
UsedVehicleCostOfSales
255800000 USD
abg Used Vehicle Revenue
UsedVehicleRevenue
528700000 USD
CY2010Q2 abg Used Vehicle Revenue
UsedVehicleRevenue
279900000 USD
CY2011Q2 abg Used Vehicle Revenue
UsedVehicleRevenue
322700000 USD
CY2011Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32900000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32800000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33200000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32300000 shares
CY2011Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32100000 shares
CY2010Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32200000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32200000 shares
CY2010Q4 abg Contractsintransit
Contractsintransit
80600000 USD
CY2011Q2 abg Contractsintransit
Contractsintransit
71600000 USD
abg Financeandinsurancenet
Financeandinsurancenet
68400000 USD
CY2011Q2 abg Financeandinsurancenet
Financeandinsurancenet
36000000 USD
abg Financeandinsurancenet
Financeandinsurancenet
55200000 USD
CY2010Q2 abg Financeandinsurancenet
Financeandinsurancenet
30000000 USD
abg Floor Plan Interest Expense
FloorPlanInterestExpense
5000000 USD
CY2010Q2 abg Floor Plan Interest Expense
FloorPlanInterestExpense
2200000 USD
CY2011Q2 abg Floor Plan Interest Expense
FloorPlanInterestExpense
2300000 USD
abg Floor Plan Interest Expense
FloorPlanInterestExpense
4600000 USD
CY2010Q4 abg Floor Plan Notes Payable Non Trade
FloorPlanNotesPayableNonTrade
80000000 USD
CY2011Q2 abg Floor Plan Notes Payable Non Trade
FloorPlanNotesPayableNonTrade
75500000 USD
CY2010Q4 abg Floor Plan Notes Payable Trade
FloorPlanNotesPayableTrade
344600000 USD
CY2011Q2 abg Floor Plan Notes Payable Trade
FloorPlanNotesPayableTrade
195900000 USD
abg Increase Decrease In Floor Plan Notes Payable Trade
IncreaseDecreaseInFloorPlanNotesPayableTrade
-64200000 USD
abg Increase Decrease In Floor Plan Notes Payable Trade
IncreaseDecreaseInFloorPlanNotesPayableTrade
-140800000 USD
abg Increase Decrease In Floor Plan Notes Payable Trade Divestitures
IncreaseDecreaseInFloorPlanNotesPayableTradeDivestitures
-5900000 USD
abg Increase Decrease In Floor Plan Notes Payable Trade Divestitures
IncreaseDecreaseInFloorPlanNotesPayableTradeDivestitures
-23000000 USD
abg New Vehicle Cost Of Sales
NewVehicleCostOfSales
956700000 USD
abg New Vehicle Cost Of Sales
NewVehicleCostOfSales
1073800000 USD
CY2010Q2 abg New Vehicle Cost Of Sales
NewVehicleCostOfSales
512600000 USD
CY2011Q2 abg New Vehicle Cost Of Sales
NewVehicleCostOfSales
536700000 USD
CY2010Q2 abg New Vehicle Revenue
NewVehicleRevenue
548400000 USD
CY2011Q2 abg New Vehicle Revenue
NewVehicleRevenue
578300000 USD
abg New Vehicle Revenue
NewVehicleRevenue
1149500000 USD
abg New Vehicle Revenue
NewVehicleRevenue
1025400000 USD
abg Proceeds From Floor Plan Borrowings Non Trade
ProceedsFromFloorPlanBorrowingsNonTrade
189800000 USD
abg Proceeds From Floor Plan Borrowings Non Trade
ProceedsFromFloorPlanBorrowingsNonTrade
208200000 USD
abg Repayments Of Floor Plan Payables Non Trade
RepaymentsOfFloorPlanPayablesNonTrade
209800000 USD
abg Repayments Of Floor Plan Payables Non Trade
RepaymentsOfFloorPlanPayablesNonTrade
209500000 USD
abg Repayments Of Floor Plan Payables Non Trade Divestitures
RepaymentsOfFloorPlanPayablesNonTradeDivestitures
0 USD
abg Repayments Of Floor Plan Payables Non Trade Divestitures
RepaymentsOfFloorPlanPayablesNonTradeDivestitures
14800000 USD
CY2010Q2 abg Swapinterestexpense
Swapinterestexpense
1600000 USD
abg Swapinterestexpense
Swapinterestexpense
2800000 USD
abg Swapinterestexpense
Swapinterestexpense
3300000 USD
CY2011Q2 abg Swapinterestexpense
Swapinterestexpense
1400000 USD
abg Used Vehicle Cost Of Sales
UsedVehicleCostOfSales
568300000 USD
abg Used Vehicle Cost Of Sales
UsedVehicleCostOfSales
481500000 USD
CY2011Q2 abg Used Vehicle Cost Of Sales
UsedVehicleCostOfSales
294300000 USD
abg Used Vehicle Revenue
UsedVehicleRevenue
624100000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2011
dei Document Period End Date
DocumentPeriodEndDate
2011-06-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001144980
CY2011Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
32323882 shares
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
ASBURY AUTOMOTIVE GROUP INC

Files In Submission

Name View Source Status
0001144980-11-000105-index-headers.html Edgar Link pending
0001144980-11-000105-index.html Edgar Link pending
0001144980-11-000105.txt Edgar Link pending
0001144980-11-000105-xbrl.zip Edgar Link pending
abg-20110630.xml Edgar Link completed
abg-20110630.xsd Edgar Link pending
abg-20110630_cal.xml Edgar Link unprocessable
abg-20110630_def.xml Edgar Link unprocessable
abg-20110630_lab.xml Edgar Link unprocessable
abg-20110630_pre.xml Edgar Link unprocessable
abg06301110q.htm Edgar Link pending
ex311q2.htm Edgar Link pending
ex312q2.htm Edgar Link pending
ex321q2.htm Edgar Link pending
ex322q2.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R3.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending