$ABG
Asbury Automotive Group Inc

2012 Q4 Form 10-Q Financial Statement

#000114498012000100 Filed on October 24, 2012

View on sec.gov

Income Statement

Concept 2012 Q4 2012 Q3 2011 Q4
Revenue $1.219B $1.191B $1.058B
YoY Change 15.24% 14.62% 4.59%
Cost Of Revenue $1.025B $996.9M $910.6M
YoY Change 12.53% 14.81% 7.69%
Gross Profit $194.5M $194.2M $174.6M
YoY Change 11.4% 9.35% 5.18%
Gross Profit Margin 15.95% 16.3% 16.5%
Selling, General & Admin $140.2M $140.0M $134.3M
YoY Change 4.39% 1.52% 5.5%
% of Gross Profit 72.08% 72.09% 76.92%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.700M $5.500M $5.900M
YoY Change -3.39% -5.17% 25.53%
% of Gross Profit 2.93% 2.83% 3.38%
Operating Expenses $146.2M $140.0M $139.4M
YoY Change 4.88% 1.52% 4.26%
Operating Profit $48.30M $49.20M $35.20M
YoY Change 37.22% 46.87% 8.98%
Interest Expense -$13.30M -$13.00M -$13.00M
YoY Change 2.31% -11.56% -6.47%
% of Operating Profit -27.54% -26.42% -36.93%
Other Income/Expense, Net -$13.00M
YoY Change -5.8%
Pretax Income $35.00M $36.20M $27.00M
YoY Change 29.63% 83.76% 280.28%
Income Tax $12.40M $13.60M $10.30M
% Of Pretax Income 35.43% 37.57% 38.15%
Net Earnings $22.80M $20.70M $21.50M
YoY Change 6.05% 68.29% 298.15%
Net Earnings / Revenue 1.87% 1.74% 2.03%
Basic Earnings Per Share $0.74 $0.67 $0.69
Diluted Earnings Per Share $0.73 $0.66 $0.68
COMMON SHARES
Basic Shares Outstanding 31.51M shares 31.10M shares 31.77M shares
Diluted Shares Outstanding 31.50M shares

Balance Sheet

Concept 2012 Q4 2012 Q3 2011 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.200M $5.900M $11.40M
YoY Change -45.61% -28.05% -46.48%
Cash & Equivalents $6.200M $5.900M $11.40M
Short-Term Investments
Other Short-Term Assets $69.50M $69.00M $63.30M
YoY Change 9.79% 33.2% 11.84%
Inventory $648.5M $588.4M $519.5M
Prepaid Expenses
Receivables $94.30M $76.90M $79.00M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $986.4M $864.9M $792.5M
YoY Change 24.47% 29.05% -9.61%
LONG-TERM ASSETS
Property, Plant & Equipment $565.8M $520.1M $510.8M
YoY Change 10.77% 2.08% 11.31%
Goodwill $28.40M $18.70M $28.40M
YoY Change 0.0% -0.53% 51.87%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $53.30M $54.40M $56.00M
YoY Change -4.82% -11.4% -20.23%
Total Long-Term Assets $675.0M $625.3M $626.9M
YoY Change 7.67% -2.1% 2.85%
TOTAL ASSETS
Total Short-Term Assets $986.4M $864.9M $792.5M
Total Long-Term Assets $675.0M $625.3M $626.9M
Total Assets $1.661B $1.490B $1.419B
YoY Change 17.05% 13.85% -4.5%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $64.80M $180.5M $45.60M
YoY Change 42.11% 1.52% -73.19%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $556.7M $463.5M $434.0M
YoY Change 28.27% 57.33% 2.21%
Long-Term Debt Due $4.600M $2.800M $19.50M
YoY Change -76.41% -89.35% 119.1%
Total Short-Term Liabilities $779.8M $655.4M $636.3M
YoY Change 22.55% 30.98% 0.08%
LONG-TERM LIABILITIES
Long-Term Debt $461.4M $431.9M $439.1M
YoY Change 5.08% -7.87% -17.91%
Other Long-Term Liabilities $17.40M $17.50M $17.40M
YoY Change 0.0% -33.46% -38.95%
Total Long-Term Liabilities $17.40M $449.4M $456.5M
YoY Change -96.19% -9.23% -18.97%
TOTAL LIABILITIES
Total Short-Term Liabilities $779.8M $655.4M $636.3M
Total Long-Term Liabilities $17.40M $449.4M $456.5M
Total Liabilities $797.2M $1.105B $1.093B
YoY Change -27.05% 10.98% -8.87%
SHAREHOLDERS EQUITY
Retained Earnings $54.40M $31.60M -$27.80M
YoY Change -295.68% -164.1% -70.95%
Common Stock $499.4M $497.9M $483.0M
YoY Change 3.4% 4.64% 4.14%
Preferred Stock
YoY Change
Treasury Stock (at cost) $149.4M $141.8M $124.1M
YoY Change 20.39% 30.81% 65.47%
Treasury Stock Shares 8.508M shares 8.256M shares 7.591M shares
Shareholders Equity $402.8M $385.4M $326.6M
YoY Change
Total Liabilities & Shareholders Equity $1.661B $1.490B $1.419B
YoY Change 17.05% 13.85% -4.5%

Cashflow Statement

Concept 2012 Q4 2012 Q3 2011 Q4
OPERATING ACTIVITIES
Net Income $22.80M $20.70M $21.50M
YoY Change 6.05% 68.29% 298.15%
Depreciation, Depletion And Amortization $5.700M $5.500M $5.900M
YoY Change -3.39% -5.17% 25.53%
Cash From Operating Activities -$37.30M $34.50M -$251.5M
YoY Change -85.17% -55.31% -566.6%
INVESTING ACTIVITIES
Capital Expenditures -$38.50M -$19.30M -$6.700M
YoY Change 474.63% -12.67% -52.82%
Acquisitions
YoY Change
Other Investing Activities -$30.40M $1.000M $12.50M
YoY Change -343.2% -121.33%
Cash From Investing Activities -$68.90M -$18.30M $5.800M
YoY Change -1287.93% -17.19% -107.97%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 106.5M -19.00M 248.9M
YoY Change -57.21% -72.9% 700.32%
NET CHANGE
Cash From Operating Activities -37.30M 34.50M -251.5M
Cash From Investing Activities -68.90M -18.30M 5.800M
Cash From Financing Activities 106.5M -19.00M 248.9M
Net Change In Cash 300.0K -2.800M 3.200M
YoY Change -90.62% -81.33% -73.77%
FREE CASH FLOW
Cash From Operating Activities -$37.30M $34.50M -$251.5M
Capital Expenditures -$38.50M -$19.30M -$6.700M
Free Cash Flow $1.200M $53.80M -$244.8M
YoY Change -100.49% -45.82% -459.47%

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<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 </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">97</font><font style="font-family:inherit;font-size:10pt;"> franchises (</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">77</font><font style="font-family:inherit;font-size:10pt;"> dealership locations) in </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">18</font><font style="font-family:inherit;font-size:10pt;"> metropolitan markets within </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">10</font><font style="font-family:inherit;font-size:10pt;"> states as of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">September&#160;30, 2012</font><font style="font-family:inherit;font-size:10pt;">. 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font-size:10pt;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;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;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Plaza dealerships operating in St. Louis, Missouri; 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FloorPlanInterestExpense
3000000 USD
CY2011Q3 abg Floor Plan Interest Expense
FloorPlanInterestExpense
2000000 USD
CY2012Q3 abg Floor Plan Notes Payable Non Trade
FloorPlanNotesPayableNonTrade
419400000 USD
CY2011Q4 abg Floor Plan Notes Payable Non Trade
FloorPlanNotesPayableNonTrade
368500000 USD
CY2011Q4 abg Floor Plan Notes Payable Trade
FloorPlanNotesPayableTrade
65500000 USD
CY2012Q3 abg Floor Plan Notes Payable Trade
FloorPlanNotesPayableTrade
44100000 USD
abg General Collection Period For Contracts In Transit
GeneralCollectionPeriodForContractsInTransit
P14D
abg Increase Decrease In Floor Plan Notes Payable Trade
IncreaseDecreaseInFloorPlanNotesPayableTrade
-109200000 USD
abg Increase Decrease In Floor Plan Notes Payable Trade
IncreaseDecreaseInFloorPlanNotesPayableTrade
-21400000 USD
abg Increase Decrease In Floor Plan Notes Payable Trade Divestitures
IncreaseDecreaseInFloorPlanNotesPayableTradeDivestitures
-23000000 USD
abg Increase Decrease In Floor Plan Notes Payable Trade Divestitures
IncreaseDecreaseInFloorPlanNotesPayableTradeDivestitures
0 USD
abg Loaner Vehicles Amount Transferred From Other Current Assets To Inventory
LoanerVehiclesAmountTransferredFromOtherCurrentAssetsToInventory
25400000 USD
abg Loaner Vehicles Amount Transferred From Other Current Assets To Inventory
LoanerVehiclesAmountTransferredFromOtherCurrentAssetsToInventory
40400000 USD
CY2011Q3 abg New Vehicle Cost Of Sales
NewVehicleCostOfSales
512100000 USD
abg New Vehicle Cost Of Sales
NewVehicleCostOfSales
1780600000 USD
CY2012Q3 abg New Vehicle Cost Of Sales
NewVehicleCostOfSales
633100000 USD
abg New Vehicle Cost Of Sales
NewVehicleCostOfSales
1547400000 USD
CY2011Q3 abg New Vehicle Revenue
NewVehicleRevenue
550800000 USD
abg New Vehicle Revenue
NewVehicleRevenue
1902700000 USD
CY2012Q3 abg New Vehicle Revenue
NewVehicleRevenue
674700000 USD
abg New Vehicle Revenue
NewVehicleRevenue
1659400000 USD
CY2012Q3 abg Number Of Collision Repair Centers
NumberOfCollisionRepairCenters
25 CollisionRepairCenters
CY2012Q3 abg Number Of Dealership Locations
NumberOfDealershipLocations
77 DealershipLocations
CY2012Q3 abg Number Of Franchises
NumberOfFranchises
97 Franchises
CY2011Q3 abg Number Of Franchises Discontinued Operations
NumberOfFranchisesDiscontinuedOperations
4 Franchises
CY2012Q3 abg Number Of Franchises Discontinued Operations
NumberOfFranchisesDiscontinuedOperations
2 Franchises
abg Number Of Franchises Discontinued Operations
NumberOfFranchisesDiscontinuedOperations
15 Franchises
abg Number Of Franchises Discontinued Operations
NumberOfFranchisesDiscontinuedOperations
3 Franchises
CY2012Q3 abg Number Of Metropolitan Markets
NumberOfMetropolitanMarkets
18 MetropolitanMarkets
CY2012Q3 abg Number Of Vehicle Brands
NumberOfVehicleBrands
28 VehicleBrands
abg Proceeds From Floor Plan Borrowings Non Trade
ProceedsFromFloorPlanBorrowingsNonTrade
295400000 USD
abg Proceeds From Floor Plan Borrowings Non Trade
ProceedsFromFloorPlanBorrowingsNonTrade
2186600000 USD
abg Repayments Of Floor Plan Payables Non Trade
RepaymentsOfFloorPlanPayablesNonTrade
303700000 USD
abg Repayments Of Floor Plan Payables Non Trade
RepaymentsOfFloorPlanPayablesNonTrade
2129000000 USD
abg Repayments Of Floor Plan Payables Non Trade Divestitures
RepaymentsOfFloorPlanPayablesNonTradeDivestitures
14800000 USD
abg Repayments Of Floor Plan Payables Non Trade Divestitures
RepaymentsOfFloorPlanPayablesNonTradeDivestitures
2100000 USD
CY2011Q3 abg Swapinterestexpense
Swapinterestexpense
1400000 USD
CY2012Q3 abg Swapinterestexpense
Swapinterestexpense
1300000 USD
CY2012Q3 abg Used Vehicle Cost Of Sales
UsedVehicleCostOfSales
309400000 USD
abg Used Vehicle Cost Of Sales
UsedVehicleCostOfSales
908900000 USD
CY2011Q3 abg Used Vehicle Cost Of Sales
UsedVehicleCostOfSales
294300000 USD
abg Used Vehicle Cost Of Sales
UsedVehicleCostOfSales
844400000 USD
CY2011Q3 abg Used Vehicle Revenue
UsedVehicleRevenue
318500000 USD
abg Used Vehicle Revenue
UsedVehicleRevenue
988600000 USD
CY2012Q3 abg Used Vehicle Revenue
UsedVehicleRevenue
335600000 USD
abg Used Vehicle Revenue
UsedVehicleRevenue
922900000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
dei Document Period End Date
DocumentPeriodEndDate
2012-09-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001144980
CY2012Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
31509368 shares
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
ASBURY AUTOMOTIVE GROUP INC

Files In Submission

Name View Source Status
0001144980-12-000100-index-headers.html Edgar Link pending
0001144980-12-000100-index.html Edgar Link pending
0001144980-12-000100.txt Edgar Link pending
0001144980-12-000100-xbrl.zip Edgar Link pending
abg-20120930.xml Edgar Link completed
abg-20120930.xsd Edgar Link pending
abg-20120930_cal.xml Edgar Link unprocessable
abg-20120930_def.xml Edgar Link unprocessable
abg-20120930_lab.xml Edgar Link unprocessable
abg-20120930_pre.xml Edgar Link unprocessable
abg09301210q.htm Edgar Link pending
ex311q32012.htm Edgar Link pending
ex312q32012.htm Edgar Link pending
ex321q32012.htm Edgar Link pending
ex322q32012.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
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report.css Edgar Link pending
Show.js Edgar Link pending