Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2018

Accounting Policies [Abstract]

Cumulative Effect of Adjustments for Adoption of ASC 606

The cumulative effect of the adjustments to our September 30, 2018 condensed consolidated statements of income and January 1, 2018 condensed consolidated balance sheet for the adoption of ASC 606 were as follows:

	Pre-ASC 606 Results		Effects of Adoption of ASC 606		As Reported
	Three Months Ended				Three Months Ended
Income Statement	September 30, 2018				September 30, 2018
	(In thousands)
Revenues:
Parts, service and collision repair	$	340,600	$	2,518	$	343,118
Finance, insurance and other, net	96,031		2,030		98,061
Total revenues	$	436,631	$	4,548	$	441,179
Cost of Sales:
Parts, service and collision repair	$	(175,153)	$	(1,149)	$	(176,302)
Selling, general and administrative expenses	$	(288,639)	$	(383)	$	(289,022)
Operating income (loss):	$	45,121	$	3,016	$	48,137

	Pre-ASC 606 Results		Effects of Adoption of ASC 606		As Reported
	Nine Months Ended				Nine Months Ended
Income Statement	September 30, 2018				September 30, 2018
	(In thousands)
Revenues:
Parts, service and collision repair	$	1,041,424	$	206	$	1,041,630
Finance, insurance and other, net	289,937		5,953		295,890
Total revenues	$	1,331,361	$	6,159	$	1,337,520
Cost of Sales:
Parts, service and collision repair	$	(537,990)	$	(145)	$	(538,135)
Selling, general and administrative expenses	$	(871,394)	$	(16)	$	(871,410)
Operating income (loss):	$	112,974	$	5,998	$	118,972

Balance Sheet	December 31, 2017		Effects of Adoption of ASC 606		January 1, 2018
			(In thousands)
Assets:
Receivables, net	$	482,126	$	4,590	$	486,716
Contract assets (1)	—		2,082		2,082
Liabilities:
Other accrued liabilities	$	237,963	$	1,286	$	239,249
Deferred income taxes	51,619		1,468		53,087
Stockholders’ Equity:
Retained earnings	$	625,356	$	3,918	$	629,274

(1)  Contract assets are included in receivables, net in the accompanying condensed consolidated balance sheets.