Note 6 - Stockholders' Equity

9 Months Ended

Sep. 30, 2014

Stockholders' Equity Note [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

Note 6. Stockholders’ Equity

Reclassification From Accumulated Other Comprehensive Loss

The reclassification from accumulated other comprehensive loss was as follows (in thousands):

	Three Months Ended September 30, 2014			Nine Months Ended September 30, 2014			Affected Line Item in the Consolidated Statements of Operations
Loss on cash flow hedges	$	(119	)	$	(370	)	Floor plan interest expense
Taxes		46			141		Income tax provision
Loss on cash flow hedges, net	$	(73	)	$	(229	)

	Three Months Ended September 30, 2013			Nine Months Ended September 30, 2013			Affected Line Item in the Consolidated Statements of Operations
Loss on cash flow hedges	$	(134	)	$	(606	)	Floor plan interest expense
Taxes		51			232		Income tax provision
Loss on cash flow hedges, net	$	(83	)	$	(374	)

See Note 9 for more details regarding our derivative contracts.

Share Repurchases

In 2011 and 2012, our Board of Directors authorized the repurchase of up to a total of 3,000,000 shares of our Class A common stock. In the nine months ended September 30, 2014, we repurchased 62,500 shares at an average price of $76.28 per share, for a total of $4.8 million. Through September 30, 2014, we have repurchased 1,335,547 shares and 1,664,453 shares remained available for repurchase. This authority to repurchase shares does not have an expiration date and we may continue to repurchase shares from time to time as conditions warrant.

In addition, we repurchased 106,772 shares related to tax withholdings associated with the vesting of restricted stock units during the first nine months of 2014 at an average price of $65.36, for a total of $7.0 million.

Dividends

Dividends paid on our Class A and Class B common stock in the nine months ended September 30, 2014 were as follows:

Quarter paid:	Dividend amount per share		Total amount of dividend (in thousands)
First quarter	$	0.13	$	3,378
Second quarter		0.16		4,179
Third quarter		0.16		4,174

See Note 14 for a discussion of a dividend related to our third quarter 2014 financial results.