2019 Q1 Form 10-K Financial Statement

#000102312820000018 Filed on February 21, 2020

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q4 2017 Q4
Revenue $2.850B $2.973B $2.703B
YoY Change 7.14% 10.0% 17.93%
Cost Of Revenue $2.399B $2.531B $2.307B
YoY Change 6.55% 9.73% 17.87%
Gross Profit $450.7M $441.9M $396.1M
YoY Change 10.44% 11.56% 18.31%
Gross Profit Margin 15.82% 14.86% 14.65%
Selling, General & Admin $321.8M $312.8M $267.1M
YoY Change 8.17% 17.11% 12.8%
% of Gross Profit 71.4% 70.79% 67.43%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $19.80M $20.10M $16.10M
YoY Change 17.86% 24.84% 23.85%
% of Gross Profit 4.39% 4.55% 4.06%
Operating Expenses $321.8M $332.9M $283.2M
YoY Change 8.17% 17.55% 13.37%
Operating Profit $108.6M $109.0M $112.9M
YoY Change 15.78% -3.45% 32.82%
Interest Expense -$33.40M -$32.50M -$22.40M
YoY Change 32.02% 45.09% 62.32%
% of Operating Profit -30.76% -29.82% -19.84%
Other Income/Expense, Net $2.600M $3.400M $800.0K
YoY Change 100.0% 325.0% -150.0%
Pretax Income $77.80M $78.00M $91.40M
YoY Change 11.46% -14.66% 38.28%
Income Tax $21.40M $33.90M -$30.90M
% Of Pretax Income 27.51% 43.46% -33.81%
Net Earnings $56.40M $59.90M $89.40M
YoY Change 8.25% -33.0% 74.27%
Net Earnings / Revenue 1.98% 2.01% 3.31%
Basic Earnings Per Share $2.43
Diluted Earnings Per Share $2.42 $2.527M $3.562M
COMMON SHARES
Basic Shares Outstanding 23.20M shares
Diluted Shares Outstanding 23.20M shares

Balance Sheet

Concept 2019 Q1 2018 Q4 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $45.00M $31.60M $57.30M
YoY Change -34.78% -44.85% 13.92%
Cash & Equivalents $45.00M $31.60M $57.30M
Short-Term Investments
Other Short-Term Assets $50.90M $65.10M $70.90M
YoY Change -10.53% -8.18% 52.11%
Inventory $2.441B $2.365B $2.133B
Prepaid Expenses
Receivables $491.0M $529.4M $521.9M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.028B $2.991B $2.783B
YoY Change 1.9% 7.5% 21.67%
LONG-TERM ASSETS
Property, Plant & Equipment $1.454B $1.448B $1.185B
YoY Change 19.13% 22.17% 17.8%
Goodwill $456.8M $434.9M $256.3M
YoY Change 78.24% 69.68% -1.2%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $194.8M $221.0M $271.8M
YoY Change -56.85% -18.69% 153.64%
Total Long-Term Assets $2.616B $2.393B $1.900B
YoY Change 23.65% 25.91% 22.05%
TOTAL ASSETS
Total Short-Term Assets $3.028B $2.991B $2.783B
Total Long-Term Assets $2.616B $2.393B $1.900B
Total Assets $5.644B $5.384B $4.683B
YoY Change 10.94% 14.97% 21.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $119.3M $126.3M $111.4M
YoY Change 2.03% 13.38% 25.99%
Accrued Expenses $310.2M $283.6M $251.6M
YoY Change 29.16% 12.72% 19.18%
Deferred Revenue
YoY Change
Short-Term Debt $2.126B $2.058B $1.919B
YoY Change 7.49% 7.23% 19.83%
Long-Term Debt Due $24.60M $25.90M $18.90M
YoY Change -85.44% 37.04% -10.0%
Total Short-Term Liabilities $2.585B $2.494B $2.301B
YoY Change 3.25% 8.37% 19.72%
LONG-TERM LIABILITIES
Long-Term Debt $1.296B $1.358B $1.029B
YoY Change 9.69% 32.06% 111.97%
Other Long-Term Liabilities $111.9M $122.2M $111.0M
YoY Change 3.23% 10.09% 10.49%
Total Long-Term Liabilities $111.9M $122.2M $111.0M
YoY Change 3.23% 10.09% -81.05%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.585B $2.494B $2.301B
Total Long-Term Liabilities $111.9M $122.2M $111.0M
Total Liabilities $4.446B $4.187B $3.600B
YoY Change 12.27% 16.3% 22.72%
SHAREHOLDERS EQUITY
Retained Earnings $1.163B $1.162B $922.7M
YoY Change 19.97% 25.95% 31.1%
Common Stock $28.00M $35.00M $11.30M
YoY Change 92.33% 209.73% -72.59%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.251B $1.197B $1.083B
YoY Change
Total Liabilities & Shareholders Equity $5.644B $5.384B $4.683B
YoY Change 10.94% 14.97% 21.82%

Cashflow Statement

Concept 2019 Q1 2018 Q4 2017 Q4
OPERATING ACTIVITIES
Net Income $56.40M $59.90M $89.40M
YoY Change 8.25% -33.0% 74.27%
Depreciation, Depletion And Amortization $19.80M $20.10M $16.10M
YoY Change 17.86% 24.84% 23.85%
Cash From Operating Activities $77.20M $140.4M -$111.6M
YoY Change 57.87% -225.81% 12.84%
INVESTING ACTIVITIES
Capital Expenditures $29.10M -$44.60M -$33.20M
YoY Change -30.71% 34.34% 71.13%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities -$6.200M $2.100M -$40.10M
YoY Change -98.13% -105.24% -6.31%
Cash From Investing Activities -$35.30M -$42.50M -$73.30M
YoY Change -90.55% -42.02% 17.85%
FINANCING ACTIVITIES
Cash Dividend Paid $6.700M
YoY Change -1.47%
Common Stock Issuance & Retirement, Net $800.0K
YoY Change -87.5%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$28.50M -97.80M 203.6M
YoY Change -108.47% -148.04% 8.7%
NET CHANGE
Cash From Operating Activities $77.20M 140.4M -111.6M
Cash From Investing Activities -$35.30M -42.50M -73.30M
Cash From Financing Activities -$28.50M -97.80M 203.6M
Net Change In Cash $13.40M 100.0K 18.70M
YoY Change 13.56% -99.47% -28.63%
FREE CASH FLOW
Cash From Operating Activities $77.20M $140.4M -$111.6M
Capital Expenditures $29.10M -$44.60M -$33.20M
Free Cash Flow $48.10M $185.0M -$78.40M
YoY Change 597.1% -335.97% -1.38%

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CY2019 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax Parent
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent
-700000 USD
CY2019 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
11000000.0 USD
CY2019 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
3200000 USD
CY2019 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
16200000 USD
CY2019 lad Adjustmentsto Additional Paidin Capital Stock Repurchase Option Premium Received Paid
AdjustmentstoAdditionalPaidinCapitalStockRepurchaseOptionPremiumReceivedPaid
2400000 USD
CY2019 us-gaap Dividends
Dividends
27600000 USD
CY2019Q1 us-gaap Cumulative Effect Of New Accounting Principle In Period Of Adoption
CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption
900000 USD
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
1467700000 USD
CY2019 us-gaap Net Income Loss
NetIncomeLoss
271500000 USD
CY2018 us-gaap Net Income Loss
NetIncomeLoss
265700000 USD
CY2017 us-gaap Net Income Loss
NetIncomeLoss
245200000 USD
CY2019 us-gaap Asset Impairment Charges
AssetImpairmentCharges
2600000 USD
CY2018 us-gaap Asset Impairment Charges
AssetImpairmentCharges
1300000 USD
CY2017 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 USD
CY2019 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
82400000 USD
CY2018 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
75400000 USD
CY2017 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
57700000 USD
CY2019 us-gaap Share Based Compensation
ShareBasedCompensation
16200000 USD
CY2018 us-gaap Share Based Compensation
ShareBasedCompensation
13300000 USD
CY2017 us-gaap Share Based Compensation
ShareBasedCompensation
11300000 USD
CY2019 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
100000 USD
CY2018 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-200000 USD
CY2017 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
400000 USD
CY2019 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
9700000 USD
CY2018 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
15100000 USD
CY2017 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
5100000 USD
CY2019 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
40100000 USD
CY2018 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
33000000.0 USD
CY2017 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
-2800000 USD
CY2019 us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
-24400000 USD
CY2018 us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
-4700000 USD
CY2017 us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
57400000 USD
CY2019 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
19700000 USD
CY2018 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
108900000 USD
CY2017 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
193100000 USD
CY2019 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-12000000.0 USD
CY2018 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
16000000.0 USD
CY2017 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
3100000 USD
CY2019 lad Increase Decreasein Floor Plan Notes Payable
IncreaseDecreaseinFloorPlanNotesPayable
-100700000 USD
CY2018 lad Increase Decreasein Floor Plan Notes Payable
IncreaseDecreaseinFloorPlanNotesPayable
-196900000 USD
CY2017 lad Increase Decreasein Floor Plan Notes Payable
IncreaseDecreaseinFloorPlanNotesPayable
-20300000 USD
CY2019 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1800000 USD
CY2018 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
15100000 USD
CY2017 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
20000000.0 USD
CY2019 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-38000000.0 USD
CY2018 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
28900000 USD
CY2017 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
37200000 USD
CY2019 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
18900000 USD
CY2018 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
25200000 USD
CY2017 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
19100000 USD
CY2019 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
499500000 USD
CY2018 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
519700000 USD
CY2017 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
148900000 USD
CY2019 us-gaap Proceeds From Sale Of Notes Receivable
ProceedsFromSaleOfNotesReceivable
12500000 USD
CY2018 us-gaap Proceeds From Sale Of Notes Receivable
ProceedsFromSaleOfNotesReceivable
0 USD
CY2017 us-gaap Proceeds From Sale Of Notes Receivable
ProceedsFromSaleOfNotesReceivable
0 USD
CY2019 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
124900000 USD
CY2018 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
158000000.0 USD
CY2017 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
105400000 USD
CY2019 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1500000 USD
CY2018 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
3100000 USD
CY2017 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
15300000 USD
CY2019 us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
7200000 USD
CY2018 us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
62700000 USD
CY2017 us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
8600000 USD
CY2019 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
366600000 USD
CY2018 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
373800000 USD
CY2017 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
460400000 USD
CY2019 us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
ProceedsFromDivestitureOfBusinessesNetOfCashDivested
46700000 USD
CY2018 us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
ProceedsFromDivestitureOfBusinessesNetOfCashDivested
34300000 USD
CY2017 us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
ProceedsFromDivestitureOfBusinessesNetOfCashDivested
20900000 USD
CY2019 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-438000000.0 USD
CY2018 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-557100000 USD
CY2017 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-538200000 USD
CY2019 lad Increase Decrease In Vehicle Floor Plan Payable Non Trade Net
IncreaseDecreaseInVehicleFloorPlanPayableNonTradeNet
-54600000 USD
CY2018 lad Increase Decrease In Vehicle Floor Plan Payable Non Trade Net
IncreaseDecreaseInVehicleFloorPlanPayableNonTradeNet
-21900000 USD
CY2017 lad Increase Decrease In Vehicle Floor Plan Payable Non Trade Net
IncreaseDecreaseInVehicleFloorPlanPayableNonTradeNet
241500000 USD
CY2019 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
3167000000.0 USD
CY2018 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
2691400000 USD
CY2017 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
1754500000 USD
CY2019 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
3481600000 USD
CY2018 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
2499600000 USD
CY2017 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
1836200000 USD
CY2019 lad Repayments Of Longterm Debt Scheduled Payments
RepaymentsOfLongtermDebtScheduledPayments
26000000.0 USD
CY2018 lad Repayments Of Longterm Debt Scheduled Payments
RepaymentsOfLongtermDebtScheduledPayments
26500000 USD
CY2017 lad Repayments Of Longterm Debt Scheduled Payments
RepaymentsOfLongtermDebtScheduledPayments
18200000 USD
CY2019 lad Repayments Of Longterm Debt Other Payments
RepaymentsOfLongtermDebtOtherPayments
11000000.0 USD
CY2018 lad Repayments Of Longterm Debt Other Payments
RepaymentsOfLongtermDebtOtherPayments
26100000 USD
CY2017 lad Repayments Of Longterm Debt Other Payments
RepaymentsOfLongtermDebtOtherPayments
50300000 USD
CY2019 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
420300000 USD
CY2018 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
62100000 USD
CY2017 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
395900000 USD
CY2019 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
5800000 USD
CY2018 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
400000 USD
CY2017 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
4700000 USD
CY2019 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
11000000.0 USD
CY2018 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
10100000 USD
CY2017 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
7500000 USD
CY2019 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
3200000 USD
CY2018 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
148900000 USD
CY2017 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
33800000 USD
CY2019 us-gaap Payments Of Dividends
PaymentsOfDividends
27600000 USD
CY2018 us-gaap Payments Of Dividends
PaymentsOfDividends
27700000 USD
CY2017 us-gaap Payments Of Dividends
PaymentsOfDividends
26500000 USD
CY2019 us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
0 USD
CY2018 us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
800000 USD
CY2017 us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
0 USD
CY2019 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
2400000 USD
CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
52400000 USD
CY2018 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0 USD
CY2017 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-33400000 USD
CY2019 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-9100000 USD
CY2018 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
11700000 USD
CY2017 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
396300000 USD
CY2018 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-25700000 USD
CY2017 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
7000000.0 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
31600000 USD
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
57300000 USD
CY2016Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
50300000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
84000000.0 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
31600000 USD
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
57300000 USD
CY2019 us-gaap Interest Paid Net
InterestPaidNet
135800000 USD
CY2018 us-gaap Interest Paid Net
InterestPaidNet
117100000 USD
CY2017 us-gaap Interest Paid Net
InterestPaidNet
68900000 USD
CY2019 us-gaap Income Taxes Paid
IncomeTaxesPaid
38400000 USD
CY2018 us-gaap Income Taxes Paid
IncomeTaxesPaid
32900000 USD
CY2017 us-gaap Income Taxes Paid
IncomeTaxesPaid
127300000 USD
CY2019 lad Cash Paidfor Repaymentsof Debt Dueto Disposal Group
CashPaidforRepaymentsofDebtDuetoDisposalGroup
18600000 USD
CY2018 lad Cash Paidfor Repaymentsof Debt Dueto Disposal Group
CashPaidforRepaymentsofDebtDuetoDisposalGroup
33100000 USD
CY2017 lad Cash Paidfor Repaymentsof Debt Dueto Disposal Group
CashPaidforRepaymentsofDebtDuetoDisposalGroup
3700000 USD
CY2019 us-gaap Notes Issued1
NotesIssued1
26400000 USD
CY2018 us-gaap Notes Issued1
NotesIssued1
125100000 USD
CY2017 us-gaap Notes Issued1
NotesIssued1
1800000 USD
CY2019 us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
NoncashOrPartNoncashAcquisitionDebtAssumed1
0 USD
CY2018 us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
NoncashOrPartNoncashAcquisitionDebtAssumed1
10800000 USD
CY2017 us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
NoncashOrPartNoncashAcquisitionDebtAssumed1
84300000 USD
CY2019 us-gaap Business Combination Consideration Transferred Equity Interests Issued And Issuable
BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable
0 USD
CY2018 us-gaap Business Combination Consideration Transferred Equity Interests Issued And Issuable
BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable
0 USD
CY2017 us-gaap Business Combination Consideration Transferred Equity Interests Issued And Issuable
BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable
2100000 USD
CY2019 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
260300000 USD
CY2019Q4 us-gaap Number Of Stores
NumberOfStores
187 store
CY2019Q4 lad Number Of New Vehicle Brands
NumberOfNewVehicleBrands
30 brand
CY2019Q4 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
19 state
CY2019 lad Accounts Receivable Threshold To Bear Interest Period
AccountsReceivableThresholdToBearInterestPeriod
P60D
CY2019 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
2300000 USD
CY2018 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
1300000 USD
CY2017 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
500000 USD
CY2019 lad Advertising Expense Gross
AdvertisingExpenseGross
139800000 USD
CY2018 lad Advertising Expense Gross
AdvertisingExpenseGross
134200000 USD
CY2017 lad Advertising Expense Gross
AdvertisingExpenseGross
116100000 USD
CY2019 us-gaap Cooperative Advertising Amount
CooperativeAdvertisingAmount
27900000 USD
CY2018 us-gaap Cooperative Advertising Amount
CooperativeAdvertisingAmount
25500000 USD
CY2017 us-gaap Cooperative Advertising Amount
CooperativeAdvertisingAmount
22800000 USD
CY2019 us-gaap Advertising Expense
AdvertisingExpense
111900000 USD
CY2018 us-gaap Advertising Expense
AdvertisingExpense
108700000 USD
CY2017 us-gaap Advertising Expense
AdvertisingExpense
93300000 USD
CY2019Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
8900000 USD
CY2019 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Concentration of Risk and Uncertainties</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;">We purchase substantially all of our new vehicles and inventory from various manufacturers at the prevailing prices charged by auto manufacturers to all franchised dealers. Our overall sales could be impacted by the auto manufacturers’ inability or unwillingness to supply dealerships with an adequate supply of popular models.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;">We depend on our manufacturers to provide a supply of vehicles which supports expected sales levels. In the event that manufacturers are unable to supply the needed level of vehicles, our financial performance may be adversely impacted. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;">We depend on our manufacturers to deliver high-quality, defect-free vehicles. In the event that manufacturers experience future quality issues, our financial performance may be adversely impacted. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;">We are subject to a concentration of risk in the event of financial distress, including potential reorganization or bankruptcy, of a major vehicle manufacturer. Our sales volume could be materially adversely impacted by the manufacturers’ or distributors’ inability to supply the stores with an adequate supply of vehicles. We also receive incentives and rebates from our manufacturers, including cash allowances, financing programs, discounts, holdbacks and other incentives. These incentives are recorded as accounts receivable in our Consolidated Balance Sheets until payment is received. Our financial condition could be materially adversely impacted by the manufacturers’ or distributors’ inability to continue to offer these incentives and rebates at substantially similar terms, or to pay our outstanding receivables. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;">We enter into Franchise Agreements with the manufacturers. The Franchise Agreements generally limit the location of the dealership and provide the auto manufacturer approval rights over changes in dealership management and ownership. The auto manufacturers are also entitled to terminate the Franchise Agreement if the dealership is in material breach of the terms. Our ability to expand operations depends, in part, on obtaining consents of the manufacturers for the acquisition of additional dealerships. See also “</span><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;">Goodwill</span><span style="font-family:Times New Roman;font-size:10pt;">” and “</span><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;">Franchise Value</span><span style="font-family:Times New Roman;font-size:10pt;">” above. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;">We have a credit facility with a syndicate of </span><span style="font-family:Times New Roman;font-size:10pt;"><span>19</span></span><span style="font-family:Times New Roman;font-size:10pt;"> financial institutions, including </span><span style="font-family:Times New Roman;font-size:10pt;"><span>seven</span></span><span style="font-family:Times New Roman;font-size:10pt;"> manufacturer-affiliated finance companies. Several of these financial institutions also provide vehicle financing for certain new vehicles, vehicles that are designated for use as service loaners and mortgage financing. This credit facility is the primary source of floor plan financing for our new vehicle inventory and also provides used vehicle financing and a revolving line of credit. The term of the facility extends through </span><span style="font-family:Times New Roman;font-size:10pt;color:#000000;">January 2025</span><span style="font-family:Times New Roman;font-size:10pt;">. At maturity, our financial condition could be materially adversely impacted if lenders are unable to provide credit that has typically been extended to us or with terms unacceptable to us. Our financial condition could be materially adversely impacted if these providers incur losses in the future or undergo funding limitations. See </span><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;text-decoration:none;">Note 6</span><span style="font-family:Times New Roman;font-size:10pt;">.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;">We anticipate continued organic growth and growth through acquisitions. This growth will require additional credit which may be unavailable or with terms unacceptable to us. If these events were to occur, we may not be able to borrow sufficient funds to facilitate our growth.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;"><br/></span></div>
CY2019 us-gaap Use Of Estimates
UseOfEstimates
<div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">Use of Estimates</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;">The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and related notes to financial statements. Changes in such estimates may affect amounts reported in future periods. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;">Estimates are used in the calculation of certain reserves maintained for charge-backs on estimated cancellations of service contracts; life, accident and disability insurance policies; finance fees from customer financing contracts and uncollectible accounts receivable. </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;">We also use estimates in the calculation of various expenses, accruals and reserves, including anticipated losses related to workers’ compensation insurance; anticipated losses related to self-insurance components of our property and casualty and medical insurance; self-insured lifetime lube, oil and filter service contracts; discretionary employee bonuses, the Transition Agreement with Sidney B. DeBoer, our Chairman of the Board; warranties provided on certain products and services; legal reserves and stock-based compensation. We also make certain estimates regarding the assessment of the recoverability of long-lived assets, indefinite-lived intangible assets and deferred tax assets.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;"><br/></span></div>We offer a limited warranty on the sale of most retail used vehicles. This warranty is based on mileage and time. We also offer a mileage and time based warranty on parts used in our service repair work and on tire purchases. The cost that may be incurred for these warranties is estimated at the time the related revenue is recorded. A reserve for these warranty liabilities is estimated based on current sales levels, warranty experience rates and estimated costs per claim.
CY2019Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
600000 USD
CY2018Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
500000 USD
CY2019Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
171500000 USD
CY2018Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
149600000 USD
CY2019 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
25900000 USD
CY2018 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
21900000 USD
CY2018Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
9200000 USD
CY2019 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
CY2019Q4 us-gaap Accounts Receivable Gross
AccountsReceivableGross
567400000 USD
CY2018Q4 us-gaap Accounts Receivable Gross
AccountsReceivableGross
573700000 USD
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
7300000 USD
CY2018Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
7200000 USD
CY2019Q4 us-gaap Accounts Receivable Gross Noncurrent
AccountsReceivableGrossNoncurrent
55100000 USD
CY2018Q4 us-gaap Accounts Receivable Gross Noncurrent
AccountsReceivableGrossNoncurrent
37100000 USD
CY2019Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
505000000.0 USD
CY2018Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
529400000 USD
CY2019Q4 us-gaap Inventory Net
InventoryNet
2433700000 USD
CY2018Q4 us-gaap Inventory Net
InventoryNet
2365300000 USD
CY2019Q4 lad Property Plant And Equipment Gross Excluding Construction In Progress
PropertyPlantAndEquipmentGrossExcludingConstructionInProgress
1861300000 USD
CY2018Q4 lad Property Plant And Equipment Gross Excluding Construction In Progress
PropertyPlantAndEquipmentGrossExcludingConstructionInProgress
1631100000 USD
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
284300000 USD
CY2018Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
240500000 USD
CY2019Q4 lad Property Plant And Equipment Net Before Construction In Progress
PropertyPlantAndEquipmentNetBeforeConstructionInProgress
1577000000.0 USD
CY2018Q4 lad Property Plant And Equipment Net Before Construction In Progress
PropertyPlantAndEquipmentNetBeforeConstructionInProgress
1390600000 USD
CY2019Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
34700000 USD
CY2018Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
57400000 USD
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1611700000 USD
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1448000000.0 USD
CY2019 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
500000 USD
CY2018 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
1300000 USD
CY2017 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 USD
CY2018Q4 us-gaap Goodwill
Goodwill
434900000 USD
CY2019 us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
5100000 USD
CY2019 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
17400000 USD
CY2019 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
1700000 USD
CY2019 us-gaap Goodwill Written Off Related To Sale Of Business Unit
GoodwillWrittenOffRelatedToSaleOfBusinessUnit
1100000 USD
CY2019Q4 us-gaap Goodwill
Goodwill
454600000 USD
CY2017Q4 us-gaap Goodwill
Goodwill
256300000 USD
CY2018 us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
180700000 USD
CY2018 us-gaap Goodwill Written Off Related To Sale Of Business Unit
GoodwillWrittenOffRelatedToSaleOfBusinessUnit
2100000 USD
CY2008Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
299300000 USD
CY2018 us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
180700000 USD
CY2019 lad Goodwill Acquired During Period And Purchase Accounting Adjustments
GoodwillAcquiredDuringPeriodAndPurchaseAccountingAdjustments
22500000 USD
CY2017Q4 us-gaap Indefinite Lived Franchise Rights
IndefiniteLivedFranchiseRights
187000000.0 USD
CY2018 us-gaap Indefinitelived Intangible Assets Acquired
IndefinitelivedIntangibleAssetsAcquired
103500000 USD
CY2018 us-gaap Indefinite Lived Intangible Assets Purchase Accounting Adjustments
IndefiniteLivedIntangibleAssetsPurchaseAccountingAdjustments
-1800000 USD
CY2018Q4 us-gaap Indefinite Lived Franchise Rights
IndefiniteLivedFranchiseRights
288700000 USD
CY2019 us-gaap Indefinitelived Intangible Assets Acquired
IndefinitelivedIntangibleAssetsAcquired
20900000 USD
CY2019 us-gaap Indefinite Lived Intangible Assets Purchase Accounting Adjustments
IndefiniteLivedIntangibleAssetsPurchaseAccountingAdjustments
3500000 USD
CY2019 us-gaap Indefinite Lived Intangible Assets Written Off Related To Sale Of Business Unit
IndefiniteLivedIntangibleAssetsWrittenOffRelatedToSaleOfBusinessUnit
6000000.0 USD
CY2019 lad Franchise Value Impairment
FranchiseValueImpairment
400000 USD
CY2019Q4 us-gaap Indefinite Lived Franchise Rights
IndefiniteLivedFranchiseRights
306700000 USD
CY2018 us-gaap Indefinitelived Intangible Assets Acquired
IndefinitelivedIntangibleAssetsAcquired
103500000 USD
CY2019 lad Indefinitelived Intangible Assets Acquired And Purchase Accounting Adjustments
IndefinitelivedIntangibleAssetsAcquiredAndPurchaseAccountingAdjustments
24400000 USD
CY2019Q4 lad Floor Plan Notes Payable Non Trade
FloorPlanNotesPayableNonTrade
1642400000 USD
CY2018Q4 lad Floor Plan Notes Payable Non Trade
FloorPlanNotesPayableNonTrade
1733300000 USD
CY2019Q4 lad Floor Plan Notes Payable
FloorPlanNotesPayable
425200000 USD
CY2018Q4 lad Floor Plan Notes Payable
FloorPlanNotesPayable
324400000 USD
CY2019Q4 lad Charge Backs Future Minimum Payments Due In Five Years
ChargeBacksFutureMinimumPaymentsDueInFiveYears
500000 USD
CY2019Q4 lad Charge Backs Future Minimum Payments Due Thereafter
ChargeBacksFutureMinimumPaymentsDueThereafter
0 USD
CY2019Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
1430600000 USD
CY2019Q4 lad Floor Plan Debt
FloorPlanDebt
2067600000 USD
CY2018Q4 lad Floor Plan Debt
FloorPlanDebt
2057700000 USD
CY2019Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1480300000 USD
CY2018Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1390100000 USD
CY2019Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
10400000 USD
CY2018Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
6000000.0 USD
CY2019Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
39300000 USD
CY2018Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
25900000 USD
CY2018Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
1358200000 USD
CY2019Q4 lad Floor Plan Notes Payable
FloorPlanNotesPayable
425200000 USD
CY2019Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
41900000 USD
CY2019Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
49500000 USD
CY2019Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
65800000 USD
CY2019Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
60400000 USD
CY2019Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
77600000 USD
CY2019Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
1036100000 USD
CY2019Q4 us-gaap Long Term Debt
LongTermDebt
1331300000 USD
CY2019Q4 lad Charge Backs Liabilities
ChargeBacksLiabilities
57000000.0 USD
CY2019Q4 lad Charge Backs Future Minimum Payments Current
ChargeBacksFutureMinimumPaymentsCurrent
31200000 USD
CY2019Q4 lad Charge Backs Future Minimum Payments Due In Two Years
ChargeBacksFutureMinimumPaymentsDueInTwoYears
16300000 USD
CY2019Q4 lad Charge Backs Future Minimum Payments Due In Three Years
ChargeBacksFutureMinimumPaymentsDueInThreeYears
6800000 USD
CY2019Q4 lad Charge Backs Future Minimum Payments Due In Four Years
ChargeBacksFutureMinimumPaymentsDueInFourYears
2200000 USD
CY2019Q4 lad Charge Backs Liabilities
ChargeBacksLiabilities
57000000.0 USD
CY2019Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
172000000.0 USD
CY2019Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
34300000 USD
CY2019Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
27400000 USD
CY2019Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
21900000 USD
CY2019Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
18200000 USD
CY2019Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
15400000 USD
CY2019Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
54800000 USD
CY2019Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
172000000.0 USD
CY2019Q4 lad Contracts Obligations Reserve
ContractsObligationsReserve
2900000 USD
CY2019Q4 us-gaap Self Insurance Reserve
SelfInsuranceReserve
34400000 USD
CY2018Q4 us-gaap Self Insurance Reserve
SelfInsuranceReserve
39900000 USD
CY2019 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
40356 shares
CY2019 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
40356 shares
CY2018 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
30119 shares
CY2017 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
32457 shares
CY2019Q2 lad Payments For Repurchase Of Capped Call Options
PaymentsForRepurchaseOfCappedCallOptions
36500000 USD
CY2019 lad Proceeds From Capped Call Options Expirations
ProceedsFromCappedCallOptionsExpirations
38900000 USD
CY2018Q1 us-gaap Dividends Common Stock
DividendsCommonStock
6700000 USD
CY2018Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.29
CY2018Q2 us-gaap Dividends Common Stock
DividendsCommonStock
7200000 USD
CY2018Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.29
CY2018Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.27
CY2017Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.25
CY2017Q1 us-gaap Dividends Common Stock
DividendsCommonStock
6300000 USD
CY2017Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.27
CY2017Q2 us-gaap Dividends Common Stock
DividendsCommonStock
6800000 USD
CY2017Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.27
CY2017Q3 us-gaap Dividends Common Stock
DividendsCommonStock
6700000 USD
CY2017Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.27
CY2017Q4 us-gaap Dividends Common Stock
DividendsCommonStock
6700000 USD
CY2018Q3 us-gaap Dividends Common Stock
DividendsCommonStock
7000000.0 USD
CY2018Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.29
CY2018Q4 us-gaap Dividends Common Stock
DividendsCommonStock
6800000 USD
CY2019Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.29
CY2019Q1 us-gaap Dividends Common Stock
DividendsCommonStock
6700000 USD
CY2019Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.30
CY2019Q2 us-gaap Dividends Common Stock
DividendsCommonStock
7000000.0 USD
CY2019Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.30
CY2019Q3 us-gaap Dividends Common Stock
DividendsCommonStock
7000000.0 USD
CY2019Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.30
CY2019Q4 us-gaap Dividends Common Stock
DividendsCommonStock
6900000 USD
CY2019 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
9800000 USD
CY2018 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
5700000 USD
CY2017 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
5800000 USD
CY2019 us-gaap Deferred Compensation Arrangement With Individual Compensation Expense
DeferredCompensationArrangementWithIndividualCompensationExpense
900000 USD
CY2018 us-gaap Deferred Compensation Arrangement With Individual Compensation Expense
DeferredCompensationArrangementWithIndividualCompensationExpense
1300000 USD
CY2017 us-gaap Deferred Compensation Arrangement With Individual Compensation Expense
DeferredCompensationArrangementWithIndividualCompensationExpense
1100000 USD
CY2019 us-gaap Deferred Compensation Arrangement With Individual Contributions By Employer
DeferredCompensationArrangementWithIndividualContributionsByEmployer
300000 USD
CY2018 us-gaap Deferred Compensation Arrangement With Individual Contributions By Employer
DeferredCompensationArrangementWithIndividualContributionsByEmployer
800000 USD
CY2017 us-gaap Deferred Compensation Arrangement With Individual Contributions By Employer
DeferredCompensationArrangementWithIndividualContributionsByEmployer
1700000 USD
CY2019 lad Guaranteed Annual Return
GuaranteedAnnualReturn
0.0500
CY2018 lad Guaranteed Annual Return
GuaranteedAnnualReturn
0.0500
CY2017 lad Guaranteed Annual Return
GuaranteedAnnualReturn
0.0500
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Grant Date Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateIntrinsicValue
75.73
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Grant Date Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateIntrinsicValue
86.84
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Grant Date Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateIntrinsicValue
99.24
CY2019Q4 lad Weighted Average Per Share Discount For Compensation Expense Recognized Under The2009 Espp
WeightedAveragePerShareDiscountForCompensationExpenseRecognizedUnderThe2009ESPP
17.83
CY2018Q4 lad Weighted Average Per Share Discount For Compensation Expense Recognized Under The2009 Espp
WeightedAveragePerShareDiscountForCompensationExpenseRecognizedUnderThe2009ESPP
13.10
CY2017Q4 lad Weighted Average Per Share Discount For Compensation Expense Recognized Under The2009 Espp
WeightedAveragePerShareDiscountForCompensationExpenseRecognizedUnderThe2009ESPP
15.20
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
92000000.0 USD
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
92000000.0 USD
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
69600000 USD
CY2019 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
2700000 USD
CY2018 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
3500000 USD
CY2017 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
3500000 USD
CY2019 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
11300000 USD
CY2018 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
10600000 USD
CY2017 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
7800000 USD
CY2019 us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions
9800000 USD
CY2018 us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions
9000000.0 USD
CY2017 us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions
9000000.0 USD
CY2019Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
25200000 USD
CY2019Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
238500000 USD
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
263700000 USD
CY2019Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
1100000 USD
CY2018Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
2000000.0 USD
CY2019Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
29500000 USD
CY2018Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
28800000 USD
CY2019Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
30600000 USD
CY2018Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
30800000 USD
CY2019Q4 lad Lease Liability
LeaseLiability
294300000 USD
CY2018Q4 lad Lease Liability
LeaseLiability
30800000 USD
CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P13Y
CY2019Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P13Y
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0581
CY2019Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0508
CY2019 us-gaap Operating Lease Cost
OperatingLeaseCost
48500000 USD
CY2019 us-gaap Variable Lease Cost
VariableLeaseCost
1400000 USD
CY2019 us-gaap Sublease Income
SubleaseIncome
4600000 USD
CY2019 us-gaap Lease Cost
LeaseCost
45300000 USD
CY2018 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
43300000 USD
CY2017 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
33400000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
37700000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
35100000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
33100000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
28200000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
25700000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
210300000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
370100000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
106400000 USD
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
263700000 USD
CY2019Q2 lad Derivative Financial Instrument Period
DerivativeFinancialInstrumentPeriod
P5Y
CY2019Q2 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
300000000 USD
CY2017 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
112000000.0 USD
CY2019 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
34700000 USD
CY2018 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
20400000 USD
CY2017 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-14200000 USD
CY2019 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
5200000 USD
CY2019Q2 lad Floor Plan Notes Payable Non Trade
FloorPlanNotesPayableNonTrade
1600000000 USD
CY2019Q4 us-gaap Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax
AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax
-1000000.0 USD
CY2019 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
24000000.0 USD
CY2018 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
11500000 USD
CY2017 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
16900000 USD
CY2019 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
64000000.0 USD
CY2018 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
41800000 USD
CY2019 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
1700000 USD
CY2019 lad Franchise Value Impairment
FranchiseValueImpairment
400000 USD
CY2019 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
40000000.0 USD
CY2018 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
30300000 USD
CY2017 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
95100000 USD
CY2018 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
9600000 USD
CY2017 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
4100000 USD
CY2019 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
39900000 USD
CY2018 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
30000000.0 USD
CY2017 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-10100000 USD
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
103900000 USD
CY2018 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
71800000 USD
CY2017 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
101900000 USD
CY2019Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
10100000 USD
CY2018Q4 us-gaap Income Tax Receivable
IncomeTaxReceivable
17100000 USD
CY2019 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
78800000 USD
CY2018 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
70900000 USD
CY2017 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
121500000 USD
CY2019 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
23600000 USD
CY2018 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
16100000 USD
CY2017 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
13300000 USD
CY2019 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
2600000 USD
CY2018 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
1500000 USD
CY2017 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
1300000 USD
CY2019 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
200000 USD
CY2018 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
-100000 USD
CY2017 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
-800000 USD
CY2019 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-500000 USD
CY2018 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
500000 USD
CY2017 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
300000 USD
CY2019 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
900000 USD
CY2018 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
1100000 USD
CY2017 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
900000 USD
CY2019 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
0 USD
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CY2019 us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
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Recent Accounting Pronouncements<div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;">In June 2016, the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments.” This pronouncement, along with subsequent ASUs issued to clarify provisions of ASU 2016-13, changes the impairment model for most financial assets and will require the use of an “expected loss” model for instruments measured at amortized cost. Under this model, entities will be required to estimate the lifetime expected credit loss on such instruments and record an allowance to offset the amortized cost basis of the financial asset, resulting in a net presentation of the amount expected </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;">to be collected on the financial asset. In developing the estimate for lifetime expected credit loss, entities must incorporate historical experience, current conditions, and reasonable and supportable forecasts. This pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2019. We have designed an allowance for loan loss methodology to comply with these new requirements, which will be adopted for our fiscal year beginning January 1, 2020. Based on information as of December 31, 2019, we expect to record a </span><span style="font-family:Times New Roman;font-size:10pt;"><span>$5.0 million</span></span><span style="font-family:Times New Roman;font-size:10pt;"> to </span><span style="font-family:Times New Roman;font-size:10pt;"><span>$8.0 million</span></span><span style="font-family:Times New Roman;font-size:10pt;"> increase in the allowance for loan losses on our opening consolidated balance sheet as of January 1, 2020, with a corresponding net-of-tax adjustment to retained earnings. The final adoption impact may vary depending on the company’s portfolio at the adoption date, as well as macroeconomic conditions and forecasts at that time. We are finalizing testing of the effectiveness of our new allowance for loan loss methodology, as well as designing the relevant controls and governance structure.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;">In January 2017, the FASB issued ASU 2017-04, “Intangibles - Goodwill and Other (Topic 350) - Simplifying the Test for Goodwill Impairment.” ASU 2017-04 simplifies the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. An entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount, and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value, if applicable. The loss recognized should not exceed the total amount of goodwill allocated to the reporting unit. The same impairment test also applies to any reporting unit with a zero or negative carrying amount. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. ASU 2017-04 is effective for fiscal years, including interim periods within those fiscal years, beginning after December 15, 2019, on a prospective basis. Early adoption is permitted for interim or annual goodwill impairment tests performed after January 1, 2017. We do not expect the adoption of ASU 2017-04 to have a material effect on our financial position, results of operations or cash flows.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;">In December 2019, the FASB issued ASU 2019-12, “Income Taxes (Topic 740) - Simplifying the Accounting for Income Taxes”. The pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2020, with early adoption permitted. We are currently in the process of evaluating the effects of this pronouncement on our consolidated financial statements.</span></div>
CY2019Q4 us-gaap Equity Securities Fv Ni
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