DETAIL OF CERTAIN BALANCE SHEET ACCOUNTS

Accounts and notes receivable consisted of the following:



	June 30, 2018		December 31, 2017
	(In thousands)
Amounts due from manufacturers	$	94,629	$	109,599
Parts and service receivables ⁽¹⁾	53,884		39,343
Finance and insurance receivables	21,939		25,293
Other	10,818		17,514
Total accounts and notes receivable	181,270		191,749
Less allowance for doubtful accounts	2,931		3,138
Accounts and notes receivable, net ⁽¹⁾	$	178,339	$	188,611

Inventories consisted of the following:



	June 30, 2018		December 31, 2017
	(In thousands)
New vehicles	$	1,169,356	$	1,194,632
Used vehicles	350,803		350,760
Rental vehicles	130,632		144,213
Parts, accessories and other ⁽¹⁾	80,392		82,755
Total inventories	1,731,183		1,772,360
Less lower of cost or net realizable value allowance	9,934		9,067
Inventories, net ⁽¹⁾	$	1,721,249	$	1,763,293

⁽¹⁾ December 31, 2017 balances have not been adjusted under the modified retrospective approach as a part of the implementation of Topic 606. See Note 1, “Interim Financial Information”, for further detail.

New, used, and rental vehicles are valued at the lower of specific cost or net realizable value and are removed from inventory using the specific identification method. Parts and accessories are valued at lower of cost (determined on either a first-in, first-out or an average cost basis) or net realizable value.

Property and equipment consisted of the following:



	Estimated Useful Lives in Years	June 30, 2018		December 31, 2017
		(In thousands)
Land	—	$	478,589	$	482,600
Buildings	25 to 50	724,451		700,257
Leasehold improvements	varies	185,528		172,071
Machinery and equipment	7 to 20	122,734		117,781
Furniture and fixtures	3 to 10	107,528		100,881
Company vehicles	3 to 5	12,236		11,933
Construction in progress	—	48,886		41,824
Total		1,679,952		1,627,347
Less accumulated depreciation		331,431		308,388
Property and equipment, net		$	1,348,521	$	1,318,959

During the six months ended June 30, 2018, the Company incurred $65.1 million of capital expenditures for the construction of new or expanded facilities and the purchase of equipment and other fixed assets in the maintenance of the Company’s dealerships and facilities, excluding $8.8 million of capital expenditures accrued as of December 31, 2017. As of June 30, 2018, the Company had accrued $8.6 million of capital expenditures. Additionally, during the six months ended June 30, 2018, the Company purchased real estate (including land and buildings) associated with existing dealership operations totaling $23.0 million. In conjunction with the acquisition of dealerships and franchises in the six months ended June 30, 2018, the Company acquired $9.7 million of real estate and other property and equipment.

In conjunction with the one U.S. dealership disposition during the six months ended June 30, 2018 that is described in Note 3, “Acquisitions and Dispositions”, the Company disposed of land, building and other equipment that totaled $20.7 million. Further, the Company identified $17.4 million of property and equipment qualifying as held-for-sale assets as of June 30, 2018 and reclassified such assets to Prepaid expenses and other current assets.