XML 31 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Cash flows from operating activities:      
Net income $ 58,860 $ 13,719 $ 9,151
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Asset impairments 1,376 15,301 7,972
Amortization of debt discount     48
Stock-based compensation 2,001 2,419 2,054
Gain on early extinguishment of debt     (1,317)
Gain on disposal of other assets (6,495) (107) (476)
(Gain) loss from disposal activities within discontinued operations (4,396) 301 (9,910)
Deferred income taxes 8,093 (2,131) 5,627
Excess tax deficit (benefit) from share-based payment arrangements (525) (264) 45
(Increase) decrease, net of effect of acquisitions and divestitures:      
Accounts receivables, net (22,503) (22,881) 17,780
Inventories (78,202) (68,305) 120,785
Other current assets (13,111) (1,633) 15,992
Other non-current assets (1,108) (2,029) (4,347)
Increase (decrease), net of effect of acquisitions and divestitures:      
Floor plan notes payable 13,510 10,550 (179,893)
Trade payables 5,998 4,960 (2,789)
Accrued liabilities 11,605 10,029 (4,318)
Other long-term liabilities and deferred revenue 7,183 1,155 14,714
Net cash provided by (used in) operating activities (766) (21,330) 9,939
Cash flows from investing activities:      
Principal payments received on notes receivable 121 85  
Capital expenditures (31,673) (7,589) (21,131)
Proceeds from sales of assets 29,677 10,288 14,524
Payments for life insurance proceeds, net of proceeds received (900)    
Cash paid for acquisitions, net of cash acquired (60,485) (23,691)  
Proceeds from sales of stores 23,838 941 27,697
Net cash provided by (used in) investing activities (39,422) (19,966) 21,090
Cash flows from financing activities:      
Net borrowings on floor plan notes payable: non-trade 63,145 24,090 31,417
Borrowings on lines of credit 56,000 40,000 48,000
Repayments on lines of credit (9,000) (24,000) (110,000)
Proceeds from issuance of long-term debt 25,674 47,219 47,838
Proceeds from issuance of common stock 5,654 4,192 45,576
Repurchase of common stock (13,568) (1,626) (1)
Excess tax (deficit) benefit from share-based payment arrangements 525 264 (45)
Dividends paid (6,822) (3,919)  
Increase in restricted cash (3,300)    
Net cash provided by (used in) financing activities 51,733 37,826 (29,127)
Increase (decrease) in cash and cash equivalents 11,545 (3,470) 1,902
Cash and cash equivalents at beginning of year 9,306 12,776 10,874
Cash and cash equivalents at end of year 20,851 9,306 12,776
Supplemental disclosure of cash flow information:      
Cash paid during the period for interest 24,961 25,357 29,741
Cash paid (refunded) during the period for income taxes, net 33,722 8,000 (14,996)
Segment, Continuing Operations [Member]
     
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation and amortization 16,626 17,154 17,786
Segment, Discontinued Operations [Member]
     
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation and amortization 322 432 1,035
Scheduled Payments [Member]
     
Cash flows from financing activities:      
Principal payments on long-term debt (10,909) (8,248) (13,260)
Other Payments [Member]
     
Cash flows from financing activities:      
Principal payments on long-term debt $ (55,666) $ (40,146) $ (78,652)