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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 137,540 $ 181,620
Accounts receivable (less allowances for credit losses of $1,679 and $1,424, respectively) 214,597 183,704
Inventories, net 1,190,319 1,326,080
Prepaid expenses and other 14,726 20,728
Assets held for sale 419 419
Total current assets 1,557,601 1,712,551
Property and equipment, net 1,276,055 1,279,931
Operating lease right-of-use assets, net 55,994 57,197
Goodwill, net 292,142 292,142
Other assets, net 60,866 65,508
Total assets 3,242,658 3,407,329
Current liabilities:    
Floor plan notes payable 888,680 996,336
Current maturities of long-term debt 183,727 189,265
Current maturities of finance lease obligations 23,339 22,892
Current maturities of operating lease obligations 10,141 10,114
Trade accounts payable 122,830 133,697
Customer deposits 25,994 42,695
Accrued expenses 97,133 112,390
Total current liabilities 1,351,844 1,507,389
Long-term debt, net of current maturities 426,727 438,413
Finance lease obligations, net of current maturities 75,300 69,478
Operating lease obligations, net of current maturities 46,357 47,555
Other long-term liabilities 19,817 20,704
Deferred income taxes, net 157,137 164,297
Shareholders’ equity:    
Preferred stock, par value $.01 per share; 1,000,000 shares authorized; 0 shares outstanding in 2020 and 2019 0 0
Common stock, par value $.01 per share; 60,000,000 Class A shares and 20,000,000 Class B shares authorized; 27,532,890 Class A shares and 8,410,440 Class B shares outstanding in 2020; and 27,953,648 Class A shares and 8,240,486 Class B shares outstanding in 2019 469 465
Additional paid-in capital 406,725 397,267
Treasury stock, at cost: 5,610,906 Class A shares and 5,360,832 Class B shares in 2020 and 5,055,783 Class A shares and 5,306,341 Class B shares in 2019 (324,031) (304,129)
Retained earnings 1,083,906 1,065,553
Accumulated other comprehensive income (1,593) 337
Total shareholders’ equity 1,165,476 1,159,493
Total liabilities and shareholders’ equity $ 3,242,658 $ 3,407,329