$ABG
Asbury Automotive Group Inc Stock $abg

$abg Overview Financials Valuation SEC Filings Company Website

2017 Q2 Form 10-Q Financial Statement

#000114498017000113 Filed on July 26, 2017

Income Statement

Concept	2017 Q2	2016 Q2
Revenue	$1.632B	$1.627B
YoY Change	0.27%	-3.68%
Cost Of Revenue	$1.365B	$1.360B
YoY Change	0.36%	-4.12%
Gross Profit	$267.1M	$267.6M
YoY Change	-0.19%	-1.36%
Gross Profit Margin	16.37%	16.44%
Selling, General & Admin	$185.6M	$182.3M
YoY Change	1.81%	0.22%
% of Gross Profit	69.49%	68.12%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$8.000M	$7.700M
YoY Change	3.9%	6.94%
% of Gross Profit	3.0%	2.88%
Operating Expenses	$185.6M	$182.3M
YoY Change	1.81%	0.22%
Operating Profit	$71.60M	$78.10M
YoY Change	-8.32%	-4.99%
Interest Expense	-$20.10M	-$19.20M
YoY Change	4.69%	28.0%
% of Operating Profit	-28.07%	-24.58%
Other Income/Expense, Net	-$20.10M	-$19.20M
YoY Change	4.69%	28.0%
Pretax Income	$51.50M	$58.90M
YoY Change	-12.56%	-12.35%
Income Tax	$19.60M	$22.30M
% Of Pretax Income	38.06%	37.86%
Net Earnings	$31.90M	$36.70M
YoY Change	-13.08%	-10.71%
Net Earnings / Revenue	1.95%	2.26%
Basic Earnings Per Share	$1.53	$1.66
Diluted Earnings Per Share	$1.52	$1.65
COMMON SHARES
Basic Shares Outstanding	20.80M shares	22.10M shares
Diluted Shares Outstanding	21.00M shares	22.20M shares

Balance Sheet

Concept	2017 Q2	2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments	$2.700M	$1.800M
YoY Change	50.0%	-5.26%
Cash & Equivalents	$2.700M	$1.800M
Short-Term Investments
Other Short-Term Assets	$129.2M	$97.20M
YoY Change	32.92%	-2.9%
Inventory	$930.4M	$989.5M
Prepaid Expenses
Receivables	$112.5M	$109.6M
Other Receivables	$0.00	$0.00
Total Short-Term Assets	$1.318B	$1.380B
YoY Change	-4.46%	2.58%
LONG-TERM ASSETS
Property, Plant & Equipment	$822.3M	$803.5M
YoY Change	2.34%	5.01%
Goodwill	$160.8M	$130.2M
YoY Change	23.5%	-0.76%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$11.20M	$10.40M
YoY Change	7.69%	-85.27%
Total Long-Term Assets	$1.049B	$992.6M
YoY Change	5.68%	2.65%
TOTAL ASSETS
Total Short-Term Assets	$1.318B	$1.380B
Total Long-Term Assets	$1.049B	$992.6M
Total Assets	$2.367B	$2.372B
YoY Change	-0.21%	2.61%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$268.3M	$270.8M
YoY Change	-0.92%	0.63%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt	$820.7M	$883.6M
YoY Change	-7.12%	4.54%
Long-Term Debt Due	$14.20M	$14.60M
YoY Change	-2.74%	14.96%
Total Short-Term Liabilities	$1.103B	$1.174B
YoY Change	-6.02%	1.5%
LONG-TERM LIABILITIES
Long-Term Debt	$905.2M	$927.9M
YoY Change	-2.45%	22.38%
Other Long-Term Liabilities	$31.50M	$37.00M
YoY Change	-14.86%	47.41%
Total Long-Term Liabilities	$31.50M	$37.00M
YoY Change	-14.86%	47.41%
TOTAL LIABILITIES
Total Short-Term Liabilities	$1.103B	$1.174B
Total Long-Term Liabilities	$31.50M	$37.00M
Total Liabilities	$1.135B	$1.211B
YoY Change	-6.29%	2.47%
SHAREHOLDERS EQUITY
Retained Earnings	$677.1M	$512.0M
YoY Change	32.25%	45.41%
Common Stock	$556.8M	$543.9M
YoY Change	2.37%	2.08%
Preferred Stock
YoY Change
Treasury Stock (at cost)	$913.8M	$829.3M
YoY Change	10.19%	61.0%
Treasury Stock Shares	20.06M shares	18.59M shares
Shareholders Equity	$318.1M	$219.6M
YoY Change
Total Liabilities & Shareholders Equity	$2.367B	$2.372B
YoY Change	-0.21%	2.61%

Cashflow Statement

Concept	2017 Q2	2016 Q2
OPERATING ACTIVITIES
Net Income	$31.90M	$36.70M
YoY Change	-13.08%	-10.71%
Depreciation, Depletion And Amortization	$8.000M	$7.700M
YoY Change	3.9%	6.94%
Cash From Operating Activities	$20.00M	$24.40M
YoY Change	-18.03%	168.13%
INVESTING ACTIVITIES
Capital Expenditures	-$6.400M	-$34.80M
YoY Change	-81.61%	8.75%
Acquisitions
YoY Change
Other Investing Activities	$0.00	$0.00
YoY Change		-100.0%
Cash From Investing Activities	-$6.400M	-$34.80M
YoY Change	-81.61%	-64.16%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-14.00M	7.800M
YoY Change	-279.49%	-91.22%
NET CHANGE
Cash From Operating Activities	20.00M	24.40M
Cash From Investing Activities	-6.400M	-34.80M
Cash From Financing Activities	-14.00M	7.800M
Net Change In Cash	-400.0K	-2.600M
YoY Change	-84.62%	-425.0%
FREE CASH FLOW
Cash From Operating Activities	$20.00M	$24.40M
Capital Expenditures	-$6.400M	-$34.80M
Free Cash Flow	$26.40M	$59.20M
YoY Change	-55.41%	44.04%

Facts In Submission

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CY2016Q4	abg	Floor Plan Notes Payable Non Trade Offsets FloorPlanNotesPayableNonTradeOffsets	59200000	USD
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CY2016Q2	abg	New Vehicle Cost Of Sales NewVehicleCostOfSales	849500000	USD
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CY2016Q2	abg	New Vehicle Revenue NewVehicleRevenue	897000000	USD
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CY2017Q2	abg	Number Of Dealership Locations NumberOfDealershipLocations	80	DealershipLocations
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CY2016Q2	abg	Swap Interest Expense SwapInterestExpense	800000	USD
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CY2017Q2	abg	Used Vehicle Revenue UsedVehicleRevenue	479200000	USD
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	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	2017
	dei	Document Period End Date DocumentPeriodEndDate	2017-06-30
	dei	Document Type DocumentType	10-Q
	dei	Entity Central Index Key EntityCentralIndexKey	0001144980
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CY2017Q2	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	19600000	USD
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	38700000	USD
	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	-14600000	USD
	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	-40100000	USD
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	-10100000	USD
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	-26300000	USD
	us-gaap	Increase Decrease In Contract Receivables Net IncreaseDecreaseInContractReceivablesNet	-41000000	USD
	us-gaap	Increase Decrease In Contract Receivables Net IncreaseDecreaseInContractReceivablesNet	-57700000	USD
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	17200000	USD
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	-59300000	USD
	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	73900000	USD
	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	108300000	USD
	us-gaap	Increase Decrease In Other Operating Capital Net IncreaseDecreaseInOtherOperatingCapitalNet	-600000	USD
	us-gaap	Increase Decrease In Other Operating Capital Net IncreaseDecreaseInOtherOperatingCapitalNet	-700000	USD
CY2016Q2	us-gaap	Incremental Common Shares Attributable To Contingently Issuable Shares IncrementalCommonSharesAttributableToContingentlyIssuableShares	100000	shares
	us-gaap	Incremental Common Shares Attributable To Contingently Issuable Shares IncrementalCommonSharesAttributableToContingentlyIssuableShares	100000	shares
CY2017Q2	us-gaap	Incremental Common Shares Attributable To Contingently Issuable Shares IncrementalCommonSharesAttributableToContingentlyIssuableShares	100000	shares
	us-gaap	Incremental Common Shares Attributable To Contingently Issuable Shares IncrementalCommonSharesAttributableToContingentlyIssuableShares	100000	shares
CY2016Q2	us-gaap	Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights	0	shares
	us-gaap	Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights	0	shares
CY2017Q2	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	100000	shares
CY2016Q4	us-gaap	Indefinite Lived Franchise Rights IndefiniteLivedFranchiseRights	48500000	USD
CY2017Q2	us-gaap	Indefinite Lived Franchise Rights IndefiniteLivedFranchiseRights	54700000	USD
CY2016Q2	us-gaap	Interest Expense Other InterestExpenseOther	13400000	USD
	us-gaap	Interest Expense Other InterestExpenseOther	26800000	USD
CY2017Q2	us-gaap	Interest Expense Other InterestExpenseOther	13400000	USD
	us-gaap	Interest Expense Other InterestExpenseOther	26800000	USD
	us-gaap	Interest Paid InterestPaid	36700000	USD
	us-gaap	Interest Paid InterestPaid	37900000	USD
CY2016Q4	us-gaap	Inventory Net InventoryNet	894900000	USD
CY2017Q2	us-gaap	Inventory Net InventoryNet	930400000	USD
CY2016Q4	us-gaap	Inventory Valuation Reserves InventoryValuationReserves	6500000	USD
CY2017Q2	us-gaap	Inventory Valuation Reserves InventoryValuationReserves	6100000	USD
CY2016Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	2336100000	USD
CY2017Q2	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	2367000000	USD
CY2016Q4	us-gaap	Liabilities Current LiabilitiesCurrent	1104900000	USD
CY2017Q2	us-gaap	Liabilities Current LiabilitiesCurrent	1103200000	USD
CY2016Q4	us-gaap	Long Term Debt LongTermDebt	935500000	USD
CY2017Q2	us-gaap	Long Term Debt LongTermDebt	927600000	USD
CY2016Q4	us-gaap	Long Term Debt And Capital Lease Obligations LongTermDebtAndCapitalLeaseObligations	912700000	USD
CY2017Q2	us-gaap	Long Term Debt And Capital Lease Obligations LongTermDebtAndCapitalLeaseObligations	905200000	USD
CY2016Q4	us-gaap	Long Term Debt And Capital Lease Obligations Current LongTermDebtAndCapitalLeaseObligationsCurrent	14000000	USD
CY2017Q2	us-gaap	Long Term Debt And Capital Lease Obligations Current LongTermDebtAndCapitalLeaseObligationsCurrent	14200000	USD
CY2016Q4	us-gaap	Long Term Debt Fair Value LongTermDebtFairValue	953000000	USD
CY2017Q2	us-gaap	Long Term Debt Fair Value LongTermDebtFairValue	931800000	USD
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-19000000	USD
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-27100000	USD
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-51800000	USD
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-91900000	USD
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	69800000	USD
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	118300000	USD
CY2016Q2	us-gaap	Net Income Loss NetIncomeLoss	36700000	USD
	us-gaap	Net Income Loss NetIncomeLoss	67700000	USD
CY2017Q2	us-gaap	Net Income Loss NetIncomeLoss	31900000	USD
	us-gaap	Net Income Loss NetIncomeLoss	65900000	USD
CY2016Q2	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-19200000	USD
	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-37800000	USD
CY2017Q2	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-20100000	USD
	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-39300000	USD
CY2017Q2	us-gaap	Number Of States In Which Entity Operates NumberOfStatesInWhichEntityOperates	9	states
CY2016Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	78100000	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	147000000	USD
CY2017Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	71600000	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	143900000	USD
CY2016Q4	us-gaap	Other Assets Current OtherAssetsCurrent	97000000	USD
CY2017Q2	us-gaap	Other Assets Current OtherAssetsCurrent	129200000	USD
CY2016Q4	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	11700000	USD
CY2017Q2	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	11200000	USD
CY2016Q2	us-gaap	Other Comprehensive Income Derivatives Qualifying As Hedges Tax Portion Attributable To Parent OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent	-700000	USD
	us-gaap	Other Comprehensive Income Derivatives Qualifying As Hedges Tax Portion Attributable To Parent OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent	-2300000	USD
CY2017Q2	us-gaap	Other Comprehensive Income Derivatives Qualifying As Hedges Tax Portion Attributable To Parent OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent	-200000	USD
	us-gaap	Other Comprehensive Income Derivatives Qualifying As Hedges Tax Portion Attributable To Parent OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent	100000	USD
CY2016Q2	us-gaap	Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax	-1700000	USD
	us-gaap	Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax	-5800000	USD
CY2017Q2	us-gaap	Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax	-500000	USD
	us-gaap	Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax	200000	USD
CY2016Q4	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	29900000	USD
CY2017Q2	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	31500000	USD
	us-gaap	Other Noncash Income Expense OtherNoncashIncomeExpense	-3100000	USD
	us-gaap	Other Noncash Income Expense OtherNoncashIncomeExpense	-1900000	USD
CY2016Q2	us-gaap	Other Operating Income Expense Net OtherOperatingIncomeExpenseNet	500000	USD
	us-gaap	Other Operating Income Expense Net OtherOperatingIncomeExpenseNet	-2700000	USD
CY2017Q2	us-gaap	Other Operating Income Expense Net OtherOperatingIncomeExpenseNet	-1900000	USD
	us-gaap	Other Operating Income Expense Net OtherOperatingIncomeExpenseNet	-700000	USD
	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	165400000	USD
	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	34300000	USD
	us-gaap	Payments Of Debt Issuance Costs PaymentsOfDebtIssuanceCosts	300000	USD
	us-gaap	Payments Of Debt Issuance Costs PaymentsOfDebtIssuanceCosts	0	USD
	us-gaap	Payments To Acquire Businesses Net Of Cash Acquired PaymentsToAcquireBusinessesNetOfCashAcquired	0	USD
	us-gaap	Payments To Acquire Businesses Net Of Cash Acquired PaymentsToAcquireBusinessesNetOfCashAcquired	80100000	USD
	us-gaap	Payments To Acquire Other Property Plant And Equipment PaymentsToAcquireOtherPropertyPlantAndEquipment	12500000	USD
	us-gaap	Payments To Acquire Other Property Plant And Equipment PaymentsToAcquireOtherPropertyPlantAndEquipment	0	USD
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	28700000	USD
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	11500000	USD
	us-gaap	Payments To Acquire Real Estate PaymentsToAcquireRealEstate	10600000	USD
	us-gaap	Payments To Acquire Real Estate PaymentsToAcquireRealEstate	300000	USD
CY2016Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
CY2017Q2	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
CY2016Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	10000000	shares
CY2017Q2	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	10000000	shares
CY2016Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2017Q2	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2016Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2017Q2	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2016Q4	us-gaap	Preferred Stock Value PreferredStockValue	0	USD
CY2017Q2	us-gaap	Preferred Stock Value PreferredStockValue	0	USD
	us-gaap	Proceeds From Income Tax Refunds ProceedsFromIncomeTaxRefunds	46500000	USD
	us-gaap	Proceeds From Income Tax Refunds ProceedsFromIncomeTaxRefunds	70700000	USD
CY2016Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	815400000	USD
CY2017Q2	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	822300000	USD
CY2016Q4	us-gaap	Real Estate Heldforsale RealEstateHeldforsale	16100000	USD
CY2017Q2	us-gaap	Real Estate Heldforsale RealEstateHeldforsale	18300000	USD
CY2016Q4	us-gaap	Receivables Net Current ReceivablesNetCurrent	138400000	USD
CY2017Q2	us-gaap	Receivables Net Current ReceivablesNetCurrent	112500000	USD
	us-gaap	Repayments Of Secured Debt RepaymentsOfSecuredDebt	7200000	USD
	us-gaap	Repayments Of Secured Debt RepaymentsOfSecuredDebt	7600000	USD
CY2016Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	611500000	USD
CY2017Q2	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	677100000	USD
CY2016Q2	us-gaap	Revenues Revenues	1627400000	USD
	us-gaap	Revenues Revenues	3178200000	USD
CY2017Q2	us-gaap	Revenues Revenues	1631800000	USD
	us-gaap	Revenues Revenues	3183500000	USD
CY2016Q2	us-gaap	Sales Revenue Services Net SalesRevenueServicesNet	195300000	USD
	us-gaap	Sales Revenue Services Net SalesRevenueServicesNet	384500000	USD
CY2017Q2	us-gaap	Sales Revenue Services Net SalesRevenueServicesNet	200800000	USD
	us-gaap	Sales Revenue Services Net SalesRevenueServicesNet	392300000	USD
CY2016Q2	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	182300000	USD
	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	363500000	USD
CY2017Q2	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	185600000	USD
	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	366700000	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	6100000	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	6400000	USD
CY2016Q4	us-gaap	Stockholders Equity StockholdersEquity	279700000	USD
CY2017Q2	us-gaap	Stockholders Equity StockholdersEquity	318100000	USD
CY2016Q4	us-gaap	Treasury Stock Shares TreasuryStockShares	19497596	shares
CY2017Q2	us-gaap	Treasury Stock Shares TreasuryStockShares	20062381	shares
CY2016Q4	us-gaap	Treasury Stock Value TreasuryStockValue	879500000	USD
CY2017Q2	us-gaap	Treasury Stock Value TreasuryStockValue	913800000	USD
CY2016Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	22200000	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	23300000	shares
CY2017Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	21000000	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	21100000	shares
CY2016Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	22100000	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	23200000	shares
CY2017Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	20800000	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	20900000	shares
	us-gaap	Nature Of Operations NatureOfOperations	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;padding-top:12px;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;">96</font><font style="font-family:inherit;font-size:10pt;"> new vehicle franchises (</font><font style="font-family:inherit;font-size:10pt;">80</font><font style="font-family:inherit;font-size:10pt;"> dealership locations) in </font><font style="font-family:inherit;font-size:10pt;">17</font><font style="font-family:inherit;font-size:10pt;"> metropolitan markets within </font><font style="font-family:inherit;font-size:10pt;">nine</font><font style="font-family:inherit;font-size:10pt;"> states as of </font><font style="font-family:inherit;font-size:10pt;">June 30, 2017</font><font style="font-family:inherit;font-size:10pt;">. Our stores offer an extensive range of automotive products and services, including new and used vehicles; parts and service, which includes repair and maintenance services, replacement parts, and collision repair services; and finance and insurance products. As of </font><font style="font-family:inherit;font-size:10pt;">June 30, 2017</font><font style="font-family:inherit;font-size:10pt;">, we offered </font><font style="font-family:inherit;font-size:10pt;">29</font><font style="font-family:inherit;font-size:10pt;"> brands of new vehicles and our new vehicle revenue brand mix consisted of </font><font style="font-family:inherit;font-size:10pt;">46%</font><font style="font-family:inherit;font-size:10pt;"> imports, </font><font style="font-family:inherit;font-size:10pt;">33%</font><font style="font-family:inherit;font-size:10pt;"> luxury, and </font><font style="font-family:inherit;font-size:10pt;">21%</font><font style="font-family:inherit;font-size:10pt;"> domestic brands. We also operated </font><font style="font-family:inherit;font-size:10pt;">24</font><font style="font-family:inherit;font-size:10pt;"> 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;"> </font></div><table cellpadding="0" cellspacing="0" style="padding-top:6px;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;">•</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;">Coggin dealerships operating primarily in Jacksonville, Fort Pierce and Orlando, Florida; </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:6px;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;">•</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;">Courtesy dealerships operating in Tampa, Florida; </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:6px;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;">•</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;">Crown dealerships operating in North Carolina, South Carolina and Virginia; </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:6px;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;">•</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;">Gray-Daniels dealerships operating in the Jackson, Mississippi area; </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:6px;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;">•</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;">Hare dealerships operating in the Indianapolis, Indiana area; </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:6px;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;">•</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;">McDavid dealerships operating in metropolitan Austin, Dallas and Houston, Texas; </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:6px;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;">•</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;">Nalley dealerships operating in metropolitan Atlanta, Georgia; and</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:6px;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;">•</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 metropolitan St. Louis, Missouri. </font></div></td></tr></table><div style="line-height:120%;padding-left:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-left:4px;text-align:left;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In addition, as of </font><font style="font-family:inherit;font-size:10pt;">June 30, 2017</font><font style="font-family:inherit;font-size:10pt;"> we owned and operated </font><font style="font-family:inherit;font-size:10pt;">two</font><font style="font-family:inherit;font-size:10pt;"> stand-alone used vehicle stores in Florida. </font></div><div style="line-height:120%;padding-left:4px;text-align:left;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-left:4px;text-align:left;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our operating results are generally subject to changes in the economic environment as well as seasonal variations. Historically, we have generated more revenue and operating income in the second, third, and fourth quarters than in the first quarter of the calendar year. Generally, the seasonal variations in our operations are caused by factors related to weather conditions, changes in manufacturer incentive programs, model changeovers and consumer buying patterns, among other things.</font></div></div>
	us-gaap	Use Of Estimates UseOfEstimates	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates</font></div><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-indent:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of revenues and expenses during the periods presented. Actual results could differ materially from these estimates. Estimates and assumptions are reviewed quarterly and the effects of any revisions are reflected in the consolidated financial statements in the period they are determined to be necessary. Significant estimates made in the accompanying Condensed Consolidated Financial Statements include, but are not limited to, those relating to inventory valuation reserves, reserves for chargebacks against revenue recognized from the sale of finance and insurance products, reserves for insurance programs, certain assumptions related to intangible and long-lived assets, and reserves for certain legal or similar proceedings relating to our business operations.</font></div></div>

Files In Submission

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$ABG
Asbury Automotive Group Inc Stock $abg

2017 Q2 Form 10-Q Financial Statement

#000114498017000113 Filed on July 26, 2017

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$ABG Asbury Automotive Group Inc Stock $abg

2017 Q2 Form 10-Q Financial Statement

#000114498017000113 Filed on July 26, 2017

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$ABG
Asbury Automotive Group Inc Stock $abg