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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 127,054 $ 102,953
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 49,961 42,758
Deferred income taxes 4,088 16,102
Asset impairments 27,427 9,526
Stock-based compensation 14,241 14,606
Amortization of debt discount and issue costs 2,475 2,852
Gain on disposition of assets (26,964) (848)
Other 589 (548)
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:    
Accounts payable and accrued expenses 35,481 85,163
Accounts and notes receivable 28,431 (8,892)
Inventories 33,737 68,454
Contracts-in-transit and vehicle receivables 70,211 (15,273)
Prepaid expenses and other assets (22,461) (4,930)
Floorplan notes payable - manufacturer affiliates 13,923 (5,164)
Deferred revenues (778) 475
Net cash provided by operating activities 357,415 307,234
CASH FLOWS FROM INVESTING ACTIVITIES:    
Cash paid in acquisitions, net of cash received (135,342) (109,082)
Proceeds from disposition of franchises, property and equipment 107,704 5,133
Purchases of property and equipment, including real estate (118,215) (144,310)
Deposits for real estate and dealership acquisitions 381 0
Other 0 1,526
Net cash used in investing activities (145,472) (246,733)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings on credit facility - floorplan line and other 5,106,810 5,053,598
Repayments on credit facility - floorplan line and other (5,185,225) (5,108,475)
Borrowings on credit facility - acquisition line 98,596 68,085
Repayments on credit facility - acquisition line (91,450) (35,576)
Borrowings on other debt 123,298 126,316
Principal payments on other debt (105,551) (88,701)
Borrowings on debt related to real estate, net of debt issue costs 54,712 39,031
Principal payments on debt related to real estate (83,242) (21,269)
Employee stock purchase plan purchases, net of employee tax withholdings 1,529 4,196
Proceeds from termination of mortgage swap 918 0
Repurchases of common stock, amounts based on settlement date (108,623) (40,094)
Dividends paid (16,014) (15,221)
Net cash used in financing activities (204,242) (18,110)
EFFECT OF EXCHANGE RATE CHANGES ON CASH (2,941) 867
NET INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 4,760 43,258
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period 29,631 24,246
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period 34,391 67,504
SUPPLEMENTAL CASH FLOW INFORMATION:    
Purchases of property and equipment, including real estate, accrued in accounts payable $ 6,131 $ 10,364