Lithia Motors (LAD) 10-Q 31 Jul 15 2015 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 31, 2015
Document Information [Line Items]
Entity Registrant Name	LITHIA MOTORS INC
Trading Symbol	LAD
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Entity Central Index Key	1,023,128
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Well-known Seasoned Issuer	Yes
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		2,562,231
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		23,735,715

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands		Jun. 30, 2015	Dec. 31, 2014
Current Assets:
Cash and cash equivalents		$ 23,394	$ 29,898
Accounts receivable, net of allowance for doubtful accounts of $1,866 and $2,191		287,808	295,379
Inventories, net		1,367,317	1,249,659
Other current assets		32,028	32,010
Assets held for sale			8,563
Total Current Assets		1,710,547	1,615,509
Property and equipment, net of accumulated depreciation of $128,528 and $117,679		836,889	816,745
Goodwill	[1]	199,129	199,375
Franchise value		150,856	150,892
Other non-current assets		107,434	98,411
Total Assets		3,004,855	2,880,932
Current Liabilities:
Floor plan notes payable		45,464	41,047
Floor plan notes payable: non-trade		1,169,717	1,137,632
Current maturities of long-term debt		37,963	31,912
Trade payables		78,885	70,853
Accrued liabilities		157,579	153,661
Deferred income taxes		3,494	2,603
Liabilities related to assets held for sale			4,892
Total Current Liabilities		1,493,102	1,442,600
Long-term debt, less current maturities		599,402	609,066
Deferred revenue		59,893	54,403
Deferred income taxes		36,077	42,795
Other long-term liabilities		64,079	58,963
Total Liabilities		2,252,553	2,207,827
Stockholders' Equity:
Preferred stock - no par value; authorized 15,000 shares; none outstanding		0	0
Additional paid-in capital		33,584	29,775
Accumulated other comprehensive loss		(622)	(926)
Retained earnings		450,273	367,879
Total Stockholders' Equity		752,302	673,105
Total Liabilities and Stockholders' Equity		3,004,855	2,880,932
Common Class A [Member]
Stockholders' Equity:
Common stock, value issued		268,748	276,058
Common Class B [Member]
Stockholders' Equity:
Common stock, value issued		$ 319	$ 319
[1]	Net of accumulated impairment losses of $299.3 million recorded during the year ended December 31, 2008.

Consolidated Balance Sheets (U3

Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($) shares in Thousands, $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Allowance for doubtful accounts (in Dollars)	$ 1,866	$ 2,191
Accumulated depreciation (in Dollars)	$ 128,528	$ 117,679
Preferred stock, par value (in Dollars per share)	$ 0	$ 0
Preferred stock, shares authorized	15,000	15,000
Preferred stock, shares outstanding	0	0
Common Class A [Member]
Common stock, par value (in Dollars per share)	$ 0	$ 0
Common stock, shares authorized	100,000	100,000
Common stock, shares issued	23,742	23,671
Common stock, shares outstanding	23,742	23,671
Common Class B [Member]
Common stock, par value (in Dollars per share)	$ 0	$ 0
Common stock, shares authorized	25,000	25,000
Common stock, shares issued	2,562	2,562
Common stock, shares outstanding	2,562	2,562

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenues:
Sales revenue		$ 1,996,947	$ 1,221,802	$ 3,786,125	$ 2,299,908
Cost of sales:
Cost of revenue		1,699,298	1,029,502	3,215,101	1,935,547
Gross profit		297,649	192,300	571,024	364,361
Asset impairments		6,130	0	10,260	0
Selling, general and administrative		195,610	125,463	387,228	247,292
Depreciation and amortization		10,287	5,825	20,013	11,332
Operating income		85,622	61,012	153,523	105,737
Floor plan interest expense		(4,655)	(3,215)	(9,304)	(6,199)
Other interest expense		(4,972)	(1,869)	(9,800)	(3,843)
Other (expense) income, net		(356)	1,146	(724)	2,083
Income from continuing operations before income taxes	[1]	75,639	57,074	133,695	97,778
Income tax provision		(24,416)	(21,904)	(41,819)	(37,914)
Income from continuing operations, net of income tax		51,223	35,170	91,876	59,864
Income from discontinued operations, net of income tax		0	3,139	0	3,179
Net income		$ 51,223	$ 38,309	$ 91,876	$ 63,043
Basic income per share from continuing operations (in Dollars per share)		$ 1.95	$ 1.35	$ 3.49	$ 2.30
Basic income per share from discontinued operations (in Dollars per share)		0	0.12	0	0.12
Basic net income per share (in Dollars per share)		$ 1.95	$ 1.47	$ 3.49	$ 2.42
Shares used in basic per share calculations (in Shares)		26,332	26,119	26,310	26,047
Diluted income per share from continuing operations (in Dollars per share)		$ 1.93	$ 1.34	$ 3.47	$ 2.27
Diluted income per share from discontinued operations (in Dollars per share)		0	0.11	0	0.12
Diluted net income per share (in Dollars per share)		$ 1.93	$ 1.45	$ 3.47	$ 2.39
Shares used in diluted per share calculations (in Shares)		26,496	26,331	26,509	26,326
New Vehicle [Member]
Revenues:
Sales revenue		$ 1,149,512	$ 694,484	$ 2,157,328	$ 1,274,006
Cost of sales:
Cost of revenue		1,080,170	648,490	2,026,212	1,188,988
Used Retail Vehicle [Member]
Revenues:
Sales revenue		488,801	310,475	951,732	612,368
Cost of sales:
Cost of revenue		426,108	266,408	829,597	527,505
Used Wholesale Vehicle [Member]
Revenues:
Sales revenue		66,796	44,286	129,004	86,979
Cost of sales:
Cost of revenue		65,390	42,782	125,437	84,144
Finance and Insurance [Member]
Revenues:
Sales revenue		72,463	43,838	137,067	83,469
Service, Body and Parts [Member]
Revenues:
Sales revenue		182,695	114,337	356,170	218,954
Cost of sales:
Cost of revenue		91,946	58,155	180,982	111,940
Fleet and Other [Member]
Revenues:
Sales revenue		36,680	14,382	54,824	24,132
Cost of sales:
Cost of revenue		$ 35,684	$ 13,667	$ 52,873	$ 22,970
[1]	Segment income is defined as operating income less floor plan interest expense.

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Net income	$ 51,223	$ 38,309	$ 91,876	$ 63,043
Other comprehensive income, net of tax:
Gain on cash flow hedges, net of tax expense of $94, $81, $181, and $174 respectively	165	130	304	279
Comprehensive income	$ 51,388	$ 38,439	$ 92,180	$ 63,322

Consolidated Statements of Com6

Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Gain on cash flow hedges, tax expense	$ 94	$ 81	$ 181	$ 174

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net income	$ 91,876	$ 63,043
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Asset impairments	10,260	0
Depreciation and amortization	20,013	11,332
Stock-based compensation	5,822	3,259
Loss on disposal of other assets	44	62
Gain on disposal of franchise	(5,919)	(5,744)
Deferred income taxes	(1,145)	2,840
Excess tax benefit from share-based payment arrangements	(4,865)	(6,058)
(Increase) decrease (net of acquisitions and dispositions):
Trade receivables, net	7,570	(20,709)
Inventories	(122,660)	(77,300)
Other assets	(3,815)	(5,951)
Increase (decrease) (net of acquisitions and dispositions):
Floor plan notes payable	4,417	368
Trade payables	8,854	1,411
Accrued liabilities	7,717	17,594
Other long-term liabilities and deferred revenue	11,161	11,659
Net cash provided by (used in) operating activities	29,330	(4,194)
Cash flows from investing activities:
Capital expenditures	(48,008)	(35,230)
Proceeds from sales of assets	145	103
Cash paid for other investments	(15,222)	(3,454)
Cash paid for acquisitions, net of cash acquired	(87)	(79,482)
Proceeds from sales of stores	12,966	10,617
Net cash used in investing activities	(50,206)	(107,446)
Cash flows from financing activities:
Borrowings on floor plan notes payable, net: non-trade	35,685	112,910
Borrowings on lines of credit	557,394	578,000
Repayments on lines of credit	(602,818)	(567,000)
Proceeds from issuance of long-term debt	59,425	5,392
Proceeds from issuance of common stock	2,589	2,253
Excess tax benefit from share-based payment arrangements	4,865	6,058
Dividends paid	(9,482)	(7,557)
Net cash provided by financing activities	14,372	116,157
(Decrease) increase in cash and cash equivalents	(6,504)	4,517
Cash and cash equivalents at beginning of period	29,898	23,686
Cash and cash equivalents at end of period	23,394	28,203
Supplemental disclosure of cash flow information:
Cash paid during the period for interest	22,262	10,218
Cash paid during the period for income taxes, net	28,699	23,444
Supplemental schedule of non-cash activities:
Debt issued in connection with acquisitions		3,161
Floor plan debt paid in connection with store disposals	4,400	3,311
Scheduled Payments [Member]
Cash flows from financing activities:
Principal payments on long-term debt	(7,324)	(3,693)
Other Payments [Member]
Cash flows from financing activities:
Principal payments on long-term debt	(9,189)
Common Class A [Member]
Cash flows from financing activities:
Repurchase of common stock	(16,773)	(10,206)
Discontinued Operations [Member]
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	$ 20,013	$ 11,332

Note 1 - Interim Financial Stat

Note 1 - Interim Financial Statements	6 Months Ended
	Jun. 30, 2015
Disclosure Text Block [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	Note 1. Interim Financial Statements Basis of Presentation These condensed Consolidated Financial Statements contain unaudited information as of June 30, 2015 and for the three- and six-month periods ended June 30, 2015 and 2014. The unaudited interim financial statements have been prepared pursuant to the rules and regulations for reporting on Form 10-Q. Accordingly, certain disclosures required by accounting principles generally accepted in the United States of America for annual financial statements are not included herein. In management’s opinion, these unaudited financial statements reflect all adjustments (which include only normal recurring adjustments) necessary for a fair presentation of the information when read in conjunction with our 2014 audited Consolidated Financial Statements and the related notes thereto. The financial information as of December 31, 2014 is derived from our Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 2, 2015. The interim condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and the notes thereto included in our 2014 Annual Report on Form 10-K. The results of operations for the interim periods presented are not necessarily indicative of the results to be expected for the full year. Reclassifications Certain reclassifications of amounts previously reported have been made to the accompanying consolidated financial statements to maintain consistency and comparability between periods presented. These reclassifications had no impact on previously reported net income.

Note 2 - Accounts Receivable

Note 2 - Accounts Receivable	6 Months Ended
	Jun. 30, 2015
Receivables [Abstract]
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	Note 2. Accounts Receivable Accounts receivable consisted of the following (in thousands): June 30, December 31, 201 4 Contracts in transit $ 159,225 $ 162,785 Trade receivables 33,637 37,194 Vehicle receivables 33,763 34,876 Manufacturer receivables 54,281 56,008 Auto loan receivables 31,375 25,424 Other receivables 4,551 4,554 316,832 320,841 Less: Allowances (2,993 ) (3,130 ) Less: Long-term portion of accounts receivable, net (26,031 ) (22,332 ) Total accounts receivable, net $ 287,808 $ 295,379 Accounts receivable classifications include the following: ● Contracts in transit are receivables from various lenders for the financing of vehicles that we have arranged on behalf of the customer and are typically received within five to ten days of selling a vehicle. ● Trade receivables are comprised of amounts due from customers, lenders for the commissions earned on financing and others for commissions earned on service contracts and insurance products. ● Vehicle receivables represent receivables for the portion of the vehicle sales price paid directly by the customer. ● Manufacturer receivables represent amounts due from manufacturers, including holdbacks, rebates, incentives and warranty claims. ● Auto loan receivables include amounts due from customers related to retail sales of vehicles and certain finance and insurance products. Interest income on auto loan receivables is recognized based on the contractual terms of each loan and is accrued until repayment, charge-off or repossession. Direct costs associated with loan originations are capitalized and expensed as an offset to interest income when recognized on the loans. All other receivables are recorded at invoice and do not bear interest until they are 60 days past due. The allowance for doubtful accounts is estimated based on our historical write-off experience and is reviewed monthly. Consideration is given to recent delinquency trends and recovery rates. Account balances are charged against the allowance after all appropriate means of collection have been exhausted and the potential for recovery is considered remote. The annual activity for charges and subsequent recoveries is immaterial. The long-term portion of accounts receivable, net, was included as a component of other non-current assets in the Consolidated Balance Sheets.

Note 3 - Inventories

Note 3 - Inventories	6 Months Ended
	Jun. 30, 2015
Inventory Disclosure [Abstract]
Inventory Disclosure [Text Block]	Note 3. Inventories The components of inventories, net, consisted of the following (in thousands): June 30, 2015 December 31, 2014 New vehicles $ 1,024,686 $ 958,876 Used vehicles 292,270 240,908 Parts and accessories 50,361 49,875 Total inventories $ 1,367,317 $ 1,249,659

Note 4 - Goodwill and Franchise

Note 4 - Goodwill and Franchise Value	6 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets Disclosure [Text Block]	Note 4. Goodwill and Franchise Value The changes in the carrying amounts of goodwill are as follows (in thousands): Domestic Import Luxury Consolidated Balance as of December 31, 2013 (1) $ 22,548 $ 16,797 $ 10,166 $ 49,511 Additions through acquisitions 68,463 62,804 18,597 149,864 Balance as of December 31, 2014 (1) 91,011 79,601 28,763 199,375 Reduction related to divestiture - (246 ) - (246 ) Balance as of June 30 , 2015 (1) $ 91,011 $ 79,355 $ 28,763 $ 199,129 (1) Net of accumulated impairment losses of $299.3 million recorded during the year ended December 31, 2008. The changes in the carrying amounts of franchise value are as follows (in thousands): Franchise Value Balance as of December 31, 2013 $ 71,199 Additions through acquisitions 80,233 Transfers to assets held for sale (540 ) Balance as of December 31, 2014 150,892 Reduction related to divestiture (36 ) Balance as of June 30 , 2015 $ 150,856

Note 5 - Stockholders' Equity

Note 5 - Stockholders' Equity	6 Months Ended
	Jun. 30, 2015
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	Note 5. Stockholders’ Equity Reclassification From Accumulated Other Comprehensive Loss The reclassification from accumulated other comprehensive loss was as follows (in thousands): Three Months Ended June 30, Affected L ine Item in the Consolidated Statements of Operations 2015 2014 Loss on cash flow hedges $ (108 ) $ (118 ) Floor plan interest expense Taxes 42 45 Income tax provision Loss on cash flow hedges, net $ (66 ) $ (73 ) Six Months Ended June 30, Affected L ine Item in the Consolidated Statements of Operations 2015 2014 Loss on cash flow hedges $ (233 ) $ (252 ) Floor plan interest expense Taxes 90 96 Income tax provision Loss on cash flow hedges, net $ (143 ) $ (156 ) See Note 8 for more details regarding our derivative contracts. Repurchases of Class A Common Stock In August 2011, our Board of Directors authorized the repurchase of up to 2,000,000 shares of our Class A common stock and, on July 20, 2012, our Board of Directors authorized the repurchase of 1,000,000 additional shares of our Class A common stock. Through June 30, 2015, we have repurchased 1,598,723 shares under this program at an average price of $35.56 per share. Of this amount, 98,947 shares were repurchased during the first six months of 2015 at an average price of $100.29 per share for a total of $9.9 million. As of June 30, 2015, 1,401,277 shares remained available for repurchase pursuant to this program. The authority to repurchase does not have an expiration date. In addition, during the first six months of 2015, we repurchased 77,438 shares at an average price of $88.45 per share, for a total of $6.9 million, related to tax withholdings associated with the vesting of restricted stock units (“RSUs”). The repurchase of shares related to tax withholdings associated with stock awards does not reduce the number of shares available for repurchase as approved by our Board of Directors. Dividends Dividends paid on our Class A and Class B common stock were as follows: Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Dividend amount per share $ 0.20 $ 0.16 $ 0.36 $ 0.29 Total amount of dividend (in thousands) 5,266 4,179 9,482 7,557 See Note 14 for a discussion of a dividend related to our second quarter 2015 financial results.

Note 6 - Deferred Compensation

Note 6 - Deferred Compensation and Long-Term Incentive Plan	6 Months Ended
	Jun. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Pension and Other Postretirement Benefits Disclosure [Text Block]	Note 6. Deferred Compensation and Long-Term Incentive Plan We offer a deferred compensation and long-term incentive plan (the “LTIP”) to provide certain employees the ability to accumulate assets for retirement on a tax-deferred basis. We may make discretionary contributions to the LTIP. Discretionary contributions vest over one to seven years depending on the employee’s age and position. Additionally, a participant may defer a portion of his or her compensation and receive the deferred amount upon certain events, including termination or retirement. The following is a summary related to our LTIP (dollars in thousands): Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Compensation expense $ 463 $ 377 $ 920 $ 1,077 Discretionary contribution $ 153 $ - $ 2,249 $ 2,100 Guaranteed annual return 5.25 % 5.25 % 5.25 % 5.25 % As of June 30, 2015 and December 31, 2014, the balance due to participants was $16.0 million and $14.2 million, respectively, and was included as a component of accrued liabilities and other long-term liabilities in the Consolidated Balance Sheets.

Note 7 - Fair Value Measurement

Note 7 - Fair Value Measurements	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	Note 7. Fair Value Measurements Factors used in determining the fair value of our financial assets and liabilities are summarized into three broad categories: ● Level 1 – quoted prices in active markets for identical securities; ● Level 2 – other significant observable inputs, including quoted prices for similar securities, interest rates, prepayment spreads, credit risk; and ● Level 3 – significant unobservable inputs, including our own assumptions in determining fair value. The inputs or methodology used for valuing financial assets and liabilities are not necessarily an indication of the risk associated with investing in them. We use the income approach to determine the fair value of our interest rate swap using observable Level 2 market expectations at each measurement date and an income approach to convert estimated future cash flows to a single present value amount (discounted) assuming that participants are motivated, but not compelled, to transact. Level 2 inputs for the swap valuation are limited to quoted prices for similar assets or liabilities in active markets (specifically futures contracts on LIBOR for the first two years) and inputs other than quoted prices that are observable for the asset or liability (specifically LIBOR cash and swap rates and credit risk at commonly quoted intervals). Mid-market pricing is used as a practical expedient for fair value measurements. Key inputs, including the cash rates for very short term borrowings, futures rates for up to two years and LIBOR swap rates beyond the derivative maturity, are used to predict future reset rates to discount those future cash flows to present value at the measurement date. Inputs are collected from Bloomberg on the last market day of the period and used to determine the rate used to discount the future cash flows. The valuation of the interest rate swap also takes into consideration estimates of our own, as well as the counterparty’s, risk of non-performance under the contract. See Note 8 for more details regarding our derivative contracts. We estimate the value of our equity-method investment that is recorded at fair value on a non-recurring basis based on a market valuation approach. We use prices and other relevant information generated primarily by recent market transactions involving similar or comparable assets. Because these valuations contain unobservable inputs, we classified the measurement of fair value of our equity-method investment as Level 3. We estimate the value of long-lived assets that are recorded at fair value based on a market valuation approach. We use prices and other relevant information generated primarily by recent market transactions involving similar or comparable assets, as well as our historical experience in divestitures, acquisitions and real estate transactions. Additionally, we may use a cost valuation approach to value long-lived assets when a market valuation approach is unavailable. Under this approach, we determine the cost to replace the service capacity of an asset, adjusted for physical and economic obsolescence. When available, we use valuation inputs from independent valuation experts, such as real estate appraisers and brokers, to corroborate our estimates of fair value. Real estate appraisers’ and brokers’ valuations are typically developed using one or more valuation techniques including market, income and replacement cost approaches. Because these valuations contain unobservable inputs, we classified the measurement of fair value of long-lived assets as Level 3. There were no changes to our valuation techniques during the six-month period ended June 30, 2015. Assets and Liabilities Measured at Fair Value Following are the disclosures related to our assets and (liabilities) that are measured at fair value (in thousands): Fair Value at June 30 , 2015 Level 1 Level 2 Level 3 Measured on a recurring basis: Derivative contracts, net $ - $ (1,187 ) $ - Measured on a non- recurring basis: Equity-method investment $ - $ - $ 34,009 Long-lived assets held and used: Certain buildings and improvements 3,367 Fair Value at December 31, 2014 Level 1 Level 2 Level 3 Measured on a recurring basis: Derivative contracts, net $ - $ (1,750 ) $ - Measured on a non- recurring basis: Equity-method investment $ - $ - $ 33,282 See Note 8 for more details regarding our derivative contracts. Based on operating losses recognized by the equity-method investment, we determined that an impairment of our investment had occurred. Accordingly, we performed a fair value calculation for this investment and determined that a $4.1 million and an $8.3 million impairment, respectively, was required to be recorded as asset impairments in our Consolidated Statements of Operations for the three and six months ended June 30, 2015. See Note 11. Long-lived assets classified as held and used are reviewed for impairment whenever events or circumstances indicate that the carrying amount of the assets may not be recoverable. An estimate of future undiscounted net cash flows associated with the long-lived assets is used to determine if the carrying value of the assets is recoverable. An impairment charge is recorded if the carrying value of the asset is determined to not be recoverable and exceeds its fair value. Due to changes in the expected future use for certain properties, we evaluated the future undiscounted net cash flows for each property. It was determined the carrying value was not recoverable and exceeded the estimated fair value. As a result of this evaluation, we recorded $2.0 million of impairment charges associated with these properties in the second quarter of 2015. Fair Value Disclosures for Financial Assets and Liabilities We determined the carrying value of cash equivalents, accounts receivable, trade payables, accrued liabilities and short-term borrowings approximate their fair values because of the nature of their terms and current market rates of these instruments. We believe the carrying value of our variable rate debt approximates fair value. We have fixed rate debt and calculate the estimated fair value of our fixed rate debt using a discounted cash flow methodology. Using estimated current interest rates based on a similar risk profile and duration (Level 2), the fixed cash flows are discounted and summed to compute the fair value of the debt. As of June 30, 2015, this debt had maturity dates between November 2016 and October 2034. A summary of the aggregate carrying values and fair values of our long-term fixed interest rate debt is as follows (in thousands): June 30, 201 5 December 31, 201 4 Carrying value $ 253,934 $ 257,780 Fair value 260,408 270,781

Note 8 - Derivative Financial I

Note 8 - Derivative Financial Instrument	6 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities Disclosure [Text Block]	Note 8. Derivative Financial Instrument From time to time, we enter into interest rate swaps to fix a portion of our interest expense. We do not enter into derivative instruments for any purpose other than to manage interest rate exposure to fluctuations in the one-month LIBOR benchmark. That is, we do not engage in interest rate speculation using derivative instruments. As of June 30, 2015, we had a $25 million interest rate swap outstanding with U.S. Bank Dealer Commercial Services. This interest rate swap matures on June 15, 2016 and has a fixed rate of 5.587% per annum. The variable rate on the interest rate swap is the one-month LIBOR rate. At June 30, 2015, the one-month LIBOR rate was 0.19% per annum, as reported in the Wall Street Journal. Typically, we designate all interest rate swaps as cash flow hedges and, accordingly, we record the change in fair value for the effective portion of these interest rate swaps in comprehensive income rather than net income until the underlying hedged transaction affects net income. If a swap is no longer designated as a cash flow hedge and the forecasted transaction remains probable or reasonably possible of occurring, the gain or loss recorded in accumulated other comprehensive loss is recognized in income as the forecasted transaction occurs. If the forecasted transaction is probable of not occurring, the gain or loss recorded in accumulated other comprehensive loss is recognized in income immediately. See Note 7. The estimated amount that we expect to reclassify from accumulated other comprehensive loss to net income within the next twelve months is $1.0 million at June 30, 2015. The fair value of our derivative instruments was included in our Consolidated Balance Sheets as follows (in thousands): Balance Sheet Information Fair Value of Liability Derivatives Derivatives Designated as Hedging Instruments Location in Balance Sheet June 30, 2015 Interest Rate Swap Contract Accrued liabilities $ 1,187 Other long-term liabilities - $ 1,187 Balance Sheet Information Fair Value of Liability Derivatives Derivatives Designated as Hedging Instruments Location in Balance Sheet December 31, 201 4 Interest Rate Swap Contract Accrued liabilities $ 1,194 Other long-term liabilities 556 $ 1,750 The effect of derivative instruments on our Consolidated Statements of Operations was as follows (in thousands): Derivatives in Cash Flow Hedging Relationships Amount of Gain Recognized in Accumulated OCI (Effective Portion) Location of Loss Reclassified from Accumulated OCI into Income (Effective Portion) Amount of Loss Reclassified from Accumulated OCI into Income (Effective Portion) Location of Loss Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing) Amount of Loss Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing) Three Months Ended June 30, 2015 Interest Rate Swap Contract $ 151 Floor plan interest expense $ (108 ) Floor plan interest expense $ (191 ) Three Months Ended June 30, 2014 Interest Rate Swap Contract $ 93 Floor plan interest expense $ (118 ) Floor plan interest expense $ (188 ) Six Months Ended June 30, 2015 Interest Rate Swap Contract $ 252 Floor plan interest expense $ (233 ) Floor plan interest expense $ (368 ) Six Months Ended June 30, 2014 Interest Rate Swap Contract $ 201 Floor plan interest expense $ (252 ) Floor plan interest expense $ (359 ) See also Note 8.

Note 9 - Assets Held for Sale a

Note 9 - Assets Held for Sale and Discontinued Operations	6 Months Ended
	Jun. 30, 2015
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	Note 9 . Assets Held for Sale and Discontinued Operations Assets Held for Sale We classify an asset group as held for sale if we have ceased operations at that location or the store meets the criteria required by U.S. generally accepted accounting standards as follows: ● our management team, possessing the necessary authority, commits to a plan to sell the store; ● the store is available for immediate sale in its present condition; ● an active program to locate buyers and other actions that are required to sell the store are initiated; ● a market for the store exists and we believe its sale is likely within one year; ● active marketing of the store commences at a price that is reasonable in relation to the estimated fair market value; and ● our management team believes it is unlikely changes will be made to the plan or the plan to dispose of the store will be withdrawn. As of December 31, 2014, we had two Import stores classified as held for sale. During the first six months of 2015, we completed the sale of both of these Import stores, and recognized a gain of $5.9 million as a component of selling, general and administrative on our Consolidated Statements of Operations for the six months ended June 30, 2015. As of June 30, 2015, we no longer had any stores classified as held for sale. Assets held for sale included the following (in thousands): June 30, 201 5 December 31, 2014 Inventories $ - $ 6,284 Property, plant and equipment - 1,739 Intangible assets - 540 $ - $ 8,563 Liabilities related to assets held for sale included the following (in thousands): June 30 , 201 5 December 31, 201 4 Floor plan notes payable $ - $ 4,892 Discontinued Operations and the Sales of Stores In the third quarter of 2014, we early-adopted guidance that redefined discontinued operations. As a result, we determined that individual stores which met the criteria for held for sale after our adoption date would no longer qualify for classification as discontinued operations. We had previously reclassified a store’s operations to discontinued operations in our Consolidated Statements of Operations, on a comparable basis for all periods presented, provided we did not expect to have any significant continuing involvement in the store’s operations after its disposal. Certain financial information related to discontinued operations and sales of stores was as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Revenue $ - $ 3,920 $ - $ 12,569 Pre-tax loss from discontinued operations $ - $ (532 ) $ - $ (467 ) Net gain on disposal activities - 5,744 - 5,744 - 5,212 - 5,277 Income tax expense - (2,073 ) - (2,098 ) Income from discontinued operations, net of income tax expense $ - $ 3,139 $ - $ 3,179 Goodwill and other intangible assets disposed of $ 157 $ 221 $ 246 $ 221 Cash generated from disposal activities 9,286 10,617 12,966 10,617 Floor plan debt paid in connection with disposal activities 2,192 3,311 4,400 3,311

Note 10 - Net Income Per Share

Note 10 - Net Income Per Share of Class A and Class B Common Stock	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	Note 10. Net Income Per Share of Class A and Class B Common Stock We compute net income per share of Class A and Class B common stock using the two-class method. Under this method, basic net income per share is computed using the weighted average number of common shares outstanding during the period excluding unvested common shares subject to repurchase or cancellation. Diluted net income per share is computed using the weighted average number of common shares and, if dilutive, potential common shares outstanding during the period. Potential common shares consist of the incremental common shares issuable upon the exercise of stock options and unvested restricted shares subject to repurchase or cancellation. The dilutive effect of outstanding stock options and other grants is reflected in diluted earnings per share by application of the treasury stock method. The computation of the diluted net income per share of Class A common stock assumes the conversion of Class B common stock, while the diluted net income per share of Class B common stock does not assume the conversion of those shares. Except with respect to voting and transfer rights, the rights of the holders of our Class A and Class B common stock are identical. Under our Restated Articles of Incorporation, the Class A and Class B common stock must share equally in any dividends, liquidation proceeds or other distribution with respect to our common stock and the Articles of Incorporation can only be amended by a vote of the shareholders. Additionally, Oregon law provides that amendments to our Articles of Incorporation that would adversely alter the rights, powers or preferences of a given class of stock, must be approved by the class of stock adversely affected by the proposed amendment. As a result, the undistributed earnings for each year are allocated based on the contractual participation rights of the Class A and Class B common shares as if the earnings for the year had been distributed. Because the liquidation and dividend rights are identical, the undistributed earnings are allocated on a proportionate basis. Following is a reconciliation of the income from continuing operations and weighted average shares used for our basic earnings per share (“EPS”) and diluted EPS (in thousands, except per share amounts): Three Months Ended June 30 , 2015 2014 Basic EPS from Continuing Operations Class A Class B Class A Class B Numerator: Income from continuing operations applicable to common stockholders $ 46,239 $ 4,984 $ 31,720 $ 3,450 Distributed income applicable to common stockholders (4,754 ) (512 ) (3,769 ) (410 ) Basic undistributed income from continuing operations applicable to common stockholders $ 41,485 $ 4,472 $ 27,951 $ 3,040 Denominator: Weighted average number of shares outstanding used to calculate basic income per share 23,770 2,562 23,557 2,562 Basic income per share from continuing operations applicable to common stockholders $ 1.95 $ 1.95 $ 1.35 $ 1.35 Basic distributed income per share from continuing operations applicable to common stockholders (0.20 ) (0.20 ) (0.16 ) (0.16 ) Basic undistributed income per share from continuing operations applicable to common stockholders $ 1.75 $ 1.75 $ 1.19 $ 1.19 Three Months Ended June 30 , 2015 2014 Diluted EPS from Continuing Operations Class A Class B Class A Class B Numerator: Distributed income applicable to common stockholders $ 4,754 $ 512 $ 3,769 $ 410 Reallocation of distributed income as a result of conversion of dilutive stock options 3 (3 ) 3 (3 ) Reallocation of distributed income due to conversion of Class B to Class A common shares outstanding 509 - 407 - Diluted distributed income applicable to common stockholders $ 5,266 $ 509 $ 4,179 $ 407 Undistributed income from continuing operations applicable to common stockholders $ 41,485 $ 4,472 $ 27,951 $ 3,040 Reallocation of undistributed income as a result of conversion of dilutive stock options 28 (28 ) 25 (25 ) Reallocation of undistributed income due to conversion of Class B to Class A 4,444 - 3,015 - Diluted undistributed income from continuing operations applicable to common stockholders $ 45,957 $ 4,444 $ 30,991 $ 3,015 Denominator: Weighted average number of shares outstanding used to calculate basic income per share from continuing operations 23,770 2,562 23,557 2,562 Weighted average number of shares from stock options 164 - 212 - Conversion of Class B to Class A common shares outstanding 2,562 - 2,562 - Weighted average number of shares outstanding used to calculate diluted income per share from continuing operations 26,496 2,562 26,331 2,562 Diluted income per share from continuing operations applicable to common stockholders $ 1.93 $ 1.93 $ 1.34 $ 1.34 Diluted distributed income per share from continuing operations applicable to common stockholders (0.20 ) (0.20 ) (0.16 ) (0.16 ) Diluted undistributed income per share from continuing operations applicable to common stockholders $ 1.73 $ 1.73 $ 1.18 $ 1.18 Three Months Ended June 30 , 2015 2014 Diluted EPS Class A Class B Class A Class B Antidilutive Securities Shares issuable pursuant to stock options not included since they were antidilutive 17 - 12 - Six Months Ended June 30 , 2015 2014 Basic EPS from Continuing Operations Class A Class B Class A Class B Numerator: Income from continuing operations applicable to common stockholders $ 82,929 $ 8,947 $ 53,976 $ 5,888 Distributed income applicable to common stockholders (8,559 ) (923 ) (6,814 ) (743 ) Basic undistributed income from continuing operations applicable to common stockholders $ 74,370 $ 8,024 $ 47,162 $ 5,145 Denominator: Weighted average number of shares outstanding used to calculate basic income per share 23,748 2,562 23,485 2,562 Basic income per share from continuing operations applicable to common stockholders $ 3.49 $ 3.49 $ 2.30 $ 2.30 Basic distributed income per share from continuing operations applicable to common stockholders (0.36 ) (0.36 ) (0.29 ) (0.29 ) Basic undistributed income per share from continuing operations applicable to common stockholders $ 3.13 $ 3.13 $ 2.01 $ 2.01 Six Months Ended June 30 , 2015 2014 Diluted EPS from Continuing Operations Class A Class B Class A Class B Numerator: Distributed income applicable to common stockholders $ 8,559 $ 923 $ 6,814 $ 743 Reallocation of distributed income as a result of conversion of dilutive stock options 7 (7 ) 8 (8 ) Reallocation of distributed income due to conversion of Class B to Class A common shares outstanding 916 - 735 - Diluted distributed income applicable to common stockholders $ 9,482 $ 916 $ 7,557 $ 735 Undistributed income from continuing operations applicable to common stockholders $ 74,370 $ 8,024 $ 47,162 $ 5,145 Reallocation of undistributed income as a result of conversion of dilutive stock options 61 (61 ) 55 (55 ) Reallocation of undistributed income due to conversion of Class B to Class A 7,963 - 5,090 - Diluted undistributed income from continuing operations applicable to common stockholders $ 82,394 $ 7,963 $ 52,307 $ 5,090 Denominator: Weighted average number of shares outstanding used to calculate basic income per share from continuing operations 23,748 2,562 23,485 2,562 Weighted average number of shares from stock options 199 - 279 - Conversion of Class B to Class A common shares outstanding 2,562 - 2,562 - Weighted average number of shares outstanding used to calculate diluted income per share from continuing operations 26,509 2,562 26,326 2,562 Diluted income per share from continuing operations applicable to common stockholders $ 3.47 $ 3.47 $ 2.27 $ 2.27 Diluted distributed income per share from continuing operations applicable to common stockholders (0.36 ) (0.36 ) (0.29 ) (0.29 ) Diluted undistributed income per share from continuing operations applicable to common stockholders $ 3.11 $ 3.11 $ 1.98 $ 1.98 Six Months Ended June 30 , 2015 2014 Diluted EPS Class A Class B Class A Class B Antidilutive Securities Shares issuable pursuant to stock options not included since they were antidilutive 16 - 14 -

Note 11 - Equity-Method Investm

Note 11 - Equity-Method Investment	6 Months Ended
	Jun. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments and Joint Ventures Disclosure [Text Block]	Note 11. Equity-Method Investment In October 2014, we acquired a 99.9% membership interest in a limited liability company managed by U.S. Bancorp Community Development Corporation with an initial equity contribution of $4.1 million. We made additional equity contributions to the entity of $5.7 million and $11.4 million, respectively, in the three and six-month periods ended June 30, 2015. We are obligated to make $49.8 million of contributions to the entity over a two-year period ending October 2016, $15.5 million of which had been paid as of June 30, 2015. This investment generates new markets tax credits under the New Markets Tax Credit Program (“NMTC Program”). The NMTC Program was established by Congress in 2000 to spur new or increased investments into operating businesses and real estate projects located in low-income communities. While U.S. Bancorp Community Development Corporation exercises management control over the limited liability company, due to the economic interest we hold in the entity, we determined our ownership portion of the entity was appropriately accounted for using the equity method. The following amounts related to this equity-method investment were recorded in our Consolidated Balance Sheets (in thousands): June 30 , 201 5 December 31, 2014 Carrying value, recorded as a component of other non-current assets $ 34,009 $ 33,282 Present value of obligation associated with future equity contributions, recorded as a component of accrued liabilities and other long-term liabilities 33,582 32,177 The following amounts related to this equity-method investment were recorded in our Consolidated Statements of Operations (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Asset impairments to write investment down to fair value $ 4,130 $ - $ 8,260 $ - Our portion of the partnership’s operating losses 1,733 - 3,465 - Non-cash interest expense related to the amortization of the discounted fair value of future equity contributions 183 - 394 - Tax benefits and credits generated 7,652 - 14,902 -

Note 12 - Segments

Note 12 - Segments	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	Note 12. Segments While we have determined that each individual store is an operating segment, we have aggregated our operating segments into three reportable segments based on their economic similarities: Domestic, Import and Luxury. Our Domestic segment is comprised of retail automotive franchises that sell new vehicles manufactured by Chrysler, General Motors and Ford. Our Import segment is comprised of retail automotive franchises that sell new vehicles manufactured primarily by Honda, Toyota, Subaru, Nissan and Volkswagen. Our Luxury segment is comprised of retail automotive franchises that sell new vehicles manufactured primarily by BMW, Mercedes-Benz and Lexus. The franchises in each segment also sell used vehicles, parts and automotive services, and automotive finance and insurance products. Corporate and other is comprised of our stand-alone collision center; unallocated corporate overhead expenses, such as corporate personnel costs, certain interest expense and depreciation expense, and retrospective commissions for certain finance and insurance transactions that we arrange under agreements with third parties. We define our chief operating decision maker (“CODM”) to be certain members of our executive management group. Historical and forecasted operational performance is evaluated on a store-by-store basis and on a consolidated basis by the CODM. We derive the operating results of the segments directly from our internal management reporting system. The accounting policies used to derive segment results are substantially the same as those used to determine our consolidated results. Management measures the performance of each operating segment based on several metrics, including earnings from operations. Management uses these results, in part, to evaluate the performance of, and to allocate resources to, each of the operating segments. Certain financial information on a segment basis is as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Revenues: Domestic $ 768,989 $ 641,378 $ 1,460,393 $ 1,210,308 Import 853,444 394,924 1,612,082 745,985 Luxury 372,369 185,826 709,290 344,437 1,994,802 1,222,128 3,781,765 2,300,730 Corporate and other 2,145 (326 ) 4,360 (822 ) $ 1,996,947 $ 1,221,802 $ 3,786,125 $ 2,299,908 Segment income*: Domestic $ 31,045 $ 25,288 $ 58,174 $ 47,710 Import 25,904 14,768 42,005 24,033 Luxury 9,515 5,832 15,414 8,017 66,464 45,888 115,593 79,760 Corporate and other 9,175 11,186 18,102 18,018 Income from continuing operations before income taxes $ 75,639 $ 57,074 $ 133,695 $ 97,778 *Segment income is defined as operating income less floor plan interest expense. Floor plan interest expense: Domestic $ 4,932 $ 4,404 $ 9,669 $ 8,463 Import 3,724 1,904 7,422 3,711 Luxury 2,308 1,036 4,369 2,165 10,964 7,344 21,460 14,339 Corporate and other (6,309 ) (4,129 ) (12,156 ) (8,140 ) $ 4,655 $ 3,215 $ 9,304 $ 6,199 June 30, 2015 December 31, 2014 Total assets: Domestic $ 922,933 $ 831,574 Import 711,944 696,162 Luxury 422,318 405,222 Corporate and other 947,660 947,974 $ 3,004,855 $ 2,880,932

Note 13 - Recent Accounting Pro

Note 13 - Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2015
Disclosure Text Block [Abstract]
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	Note 13. Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued accounting standards update (“ASU”) 2014-09, “Revenue from Contracts with Customers,” which amends the accounting guidance related to revenues. This amendment will replace most of the existing revenue recognition guidance when it becomes effective. The new standard, as amended in July 2015, is effective for fiscal years beginning after December 15, 2017 and entities are allowed to adopt the standard as early as annual periods beginning after December 15, 2016, and interim periods therein. The standard permits the use of either the retrospective or cumulative effect transition method. We are evaluating the effect this amendment will have on our consolidated financial statements and related disclosures and believe the financial impact is not material. We have not yet selected a transition method nor have we determined the effect of the standard on our ongoing financial reporting. In June 2014, the FASB issued ASU 2014-12, “Compensation – Stock Compensation (Topic 718).” ASU 2014-12 addresses accounting for share-based payments when the terms of an award provide that a performance target could be achieved after the requisite service period. ASU 2014-12 indicates that, in such situations, the performance target should be treated as a performance condition and, accordingly, the performance target should not be reflected in estimating the grant-date fair value of the award. Instead, compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved. ASU 2014-12 is effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. We do not expect the adoption of ASU 2014-12 to have a material effect on our financial position, results of operations or cash flows. In February 2015, the FASB issued ASU 2015-02, “Consolidation (Topic 810).” ASU 2015-02 amends guidance regarding the consolidation of certain legal entities. ASU 2015-02 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015, with early adoption permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. We do not expect the adoption of ASU 2015-02 to have any effect on our financial position, results of operations or cash flows. In April 2015, the FASB issued ASU 2015-03, “Interest – Imputation of Interest (Subtopic 835-30).” ASU 2015-03 amends guidance in order to simplify the presentation of debt issuance costs. ASU 2015-03 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015, with early adoption permitted for financial statements that have not been previously issued. We do not expect the adoption of ASU 2015-03 to have any effect on our financial position, results of operations or cash flows.

Note 14 - Subsequent Events

Note 14 - Subsequent Events	6 Months Ended
	Jun. 30, 2015
Subsequent Events [Abstract]
Subsequent Events [Text Block]	Note 14 . Subsequent Events Common Stock Dividend On July 20, 2015, our Board of Directors approved a dividend of $0.20 per share on our Class A and Class B common stock related to our second quarter 2015 financial results. The dividend will total approximately $5.3 million and will be paid on August 21, 2015 to shareholders of record on August 7, 2015.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation These condensed Consolidated Financial Statements contain unaudited information as of June 30, 2015 and for the three- and six-month periods ended June 30, 2015 and 2014. The unaudited interim financial statements have been prepared pursuant to the rules and regulations for reporting on Form 10-Q. Accordingly, certain disclosures required by accounting principles generally accepted in the United States of America for annual financial statements are not included herein. In management’s opinion, these unaudited financial statements reflect all adjustments (which include only normal recurring adjustments) necessary for a fair presentation of the information when read in conjunction with our 2014 audited Consolidated Financial Statements and the related notes thereto. The financial information as of December 31, 2014 is derived from our Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 2, 2015. The interim condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and the notes thereto included in our 2014 Annual Report on Form 10-K. The results of operations for the interim periods presented are not necessarily indicative of the results to be expected for the full year.
Reclassification, Policy [Policy Text Block]	Reclassifications Certain reclassifications of amounts previously reported have been made to the accompanying consolidated financial statements to maintain consistency and comparability between periods presented. These reclassifications had no impact on previously reported net income.

Note 2 - Accounts Receivable (T

Note 2 - Accounts Receivable (Tables)	6 Months Ended
	Jun. 30, 2015
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	June 30, December 31, 201 4 Contracts in transit $ 159,225 $ 162,785 Trade receivables 33,637 37,194 Vehicle receivables 33,763 34,876 Manufacturer receivables 54,281 56,008 Auto loan receivables 31,375 25,424 Other receivables 4,551 4,554 316,832 320,841 Less: Allowances (2,993 ) (3,130 ) Less: Long-term portion of accounts receivable, net (26,031 ) (22,332 ) Total accounts receivable, net $ 287,808 $ 295,379

Note 3 - Inventories (Tables)

Note 3 - Inventories (Tables)	6 Months Ended
	Jun. 30, 2015
Inventory Disclosure [Abstract]
Schedule of Inventory, Current [Table Text Block]	June 30, 2015 December 31, 2014 New vehicles $ 1,024,686 $ 958,876 Used vehicles 292,270 240,908 Parts and accessories 50,361 49,875 Total inventories $ 1,367,317 $ 1,249,659

Note 4 - Goodwill and Franchi25

Note 4 - Goodwill and Franchise Value (Tables)	6 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill [Table Text Block]	Domestic Import Luxury Consolidated Balance as of December 31, 2013 (1) $ 22,548 $ 16,797 $ 10,166 $ 49,511 Additions through acquisitions 68,463 62,804 18,597 149,864 Balance as of December 31, 2014 (1) 91,011 79,601 28,763 199,375 Reduction related to divestiture - (246 ) - (246 ) Balance as of June 30 , 2015 (1) $ 91,011 $ 79,355 $ 28,763 $ 199,129
Schedule of Indefinite-Lived Intangible Assets [Table Text Block]	Franchise Value Balance as of December 31, 2013 $ 71,199 Additions through acquisitions 80,233 Transfers to assets held for sale (540 ) Balance as of December 31, 2014 150,892 Reduction related to divestiture (36 ) Balance as of June 30 , 2015 $ 150,856

Note 5 - Stockholders' Equity (

Note 5 - Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2015
Stockholders' Equity Note [Abstract]
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	Three Months Ended June 30, Affected L ine Item in the Consolidated Statements of Operations 2015 2014 Loss on cash flow hedges $ (108 ) $ (118 ) Floor plan interest expense Taxes 42 45 Income tax provision Loss on cash flow hedges, net $ (66 ) $ (73 ) Six Months Ended June 30, Affected L ine Item in the Consolidated Statements of Operations 2015 2014 Loss on cash flow hedges $ (233 ) $ (252 ) Floor plan interest expense Taxes 90 96 Income tax provision Loss on cash flow hedges, net $ (143 ) $ (156 )
Schedule of Dividends Payable [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Dividend amount per share $ 0.20 $ 0.16 $ 0.36 $ 0.29 Total amount of dividend (in thousands) 5,266 4,179 9,482 7,557

Note 6 - Deferred Compensatio27

Note 6 - Deferred Compensation and Long-Term Incentive Plan (Tables)	6 Months Ended
	Jun. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Schedule of Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits by Title of Individual and Type of Deferred Compensation [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Compensation expense $ 463 $ 377 $ 920 $ 1,077 Discretionary contribution $ 153 $ - $ 2,249 $ 2,100 Guaranteed annual return 5.25 % 5.25 % 5.25 % 5.25 %

Note 7 - Fair Value Measureme28

Note 7 - Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	Fair Value at June 30 , 2015 Level 1 Level 2 Level 3 Measured on a recurring basis: Derivative contracts, net $ - $ (1,187 ) $ - Measured on a non- recurring basis: Equity-method investment $ - $ - $ 34,009 Long-lived assets held and used: Certain buildings and improvements 3,367 Fair Value at December 31, 2014 Level 1 Level 2 Level 3 Measured on a recurring basis: Derivative contracts, net $ - $ (1,750 ) $ - Measured on a non- recurring basis: Equity-method investment $ - $ - $ 33,282
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]	June 30, 201 5 December 31, 201 4 Carrying value $ 253,934 $ 257,780 Fair value 260,408 270,781

Note 8 - Derivative Financial29

Note 8 - Derivative Financial Instrument (Tables)	6 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	Balance Sheet Information Fair Value of Liability Derivatives Derivatives Designated as Hedging Instruments Location in Balance Sheet June 30, 2015 Interest Rate Swap Contract Accrued liabilities $ 1,187 Other long-term liabilities - $ 1,187 Balance Sheet Information Fair Value of Liability Derivatives Derivatives Designated as Hedging Instruments Location in Balance Sheet December 31, 201 4 Interest Rate Swap Contract Accrued liabilities $ 1,194 Other long-term liabilities 556 $ 1,750
Derivative Instruments, Gain (Loss) [Table Text Block]	Derivatives in Cash Flow Hedging Relationships Amount of Gain Recognized in Accumulated OCI (Effective Portion) Location of Loss Reclassified from Accumulated OCI into Income (Effective Portion) Amount of Loss Reclassified from Accumulated OCI into Income (Effective Portion) Location of Loss Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing) Amount of Loss Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing) Three Months Ended June 30, 2015 Interest Rate Swap Contract $ 151 Floor plan interest expense $ (108 ) Floor plan interest expense $ (191 ) Three Months Ended June 30, 2014 Interest Rate Swap Contract $ 93 Floor plan interest expense $ (118 ) Floor plan interest expense $ (188 ) Six Months Ended June 30, 2015 Interest Rate Swap Contract $ 252 Floor plan interest expense $ (233 ) Floor plan interest expense $ (368 ) Six Months Ended June 30, 2014 Interest Rate Swap Contract $ 201 Floor plan interest expense $ (252 ) Floor plan interest expense $ (359 )

Note 9 - Assets Held for Sale30

Note 9 - Assets Held for Sale and Discontinued Operations (Tables)	6 Months Ended
	Jun. 30, 2015
Discontinued Operations and Disposal Groups [Abstract]
Disclosure of Long Lived Assets Held-for-sale [Table Text Block]	June 30, 201 5 December 31, 2014 Inventories $ - $ 6,284 Property, plant and equipment - 1,739 Intangible assets - 540 $ - $ 8,563 June 30 , 201 5 December 31, 201 4 Floor plan notes payable $ - $ 4,892
Disposal Groups, Including Discontinued Operations [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Revenue $ - $ 3,920 $ - $ 12,569 Pre-tax loss from discontinued operations $ - $ (532 ) $ - $ (467 ) Net gain on disposal activities - 5,744 - 5,744 - 5,212 - 5,277 Income tax expense - (2,073 ) - (2,098 ) Income from discontinued operations, net of income tax expense $ - $ 3,139 $ - $ 3,179 Goodwill and other intangible assets disposed of $ 157 $ 221 $ 246 $ 221 Cash generated from disposal activities 9,286 10,617 12,966 10,617 Floor plan debt paid in connection with disposal activities 2,192 3,311 4,400 3,311

Note 10 - Net Income Per Shar31

Note 10 - Net Income Per Share of Class A and Class B Common Stock (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended June 30 , 2015 2014 Basic EPS from Continuing Operations Class A Class B Class A Class B Numerator: Income from continuing operations applicable to common stockholders $ 46,239 $ 4,984 $ 31,720 $ 3,450 Distributed income applicable to common stockholders (4,754 ) (512 ) (3,769 ) (410 ) Basic undistributed income from continuing operations applicable to common stockholders $ 41,485 $ 4,472 $ 27,951 $ 3,040 Denominator: Weighted average number of shares outstanding used to calculate basic income per share 23,770 2,562 23,557 2,562 Basic income per share from continuing operations applicable to common stockholders $ 1.95 $ 1.95 $ 1.35 $ 1.35 Basic distributed income per share from continuing operations applicable to common stockholders (0.20 ) (0.20 ) (0.16 ) (0.16 ) Basic undistributed income per share from continuing operations applicable to common stockholders $ 1.75 $ 1.75 $ 1.19 $ 1.19 Three Months Ended June 30 , 2015 2014 Diluted EPS from Continuing Operations Class A Class B Class A Class B Numerator: Distributed income applicable to common stockholders $ 4,754 $ 512 $ 3,769 $ 410 Reallocation of distributed income as a result of conversion of dilutive stock options 3 (3 ) 3 (3 ) Reallocation of distributed income due to conversion of Class B to Class A common shares outstanding 509 - 407 - Diluted distributed income applicable to common stockholders $ 5,266 $ 509 $ 4,179 $ 407 Undistributed income from continuing operations applicable to common stockholders $ 41,485 $ 4,472 $ 27,951 $ 3,040 Reallocation of undistributed income as a result of conversion of dilutive stock options 28 (28 ) 25 (25 ) Reallocation of undistributed income due to conversion of Class B to Class A 4,444 - 3,015 - Diluted undistributed income from continuing operations applicable to common stockholders $ 45,957 $ 4,444 $ 30,991 $ 3,015 Denominator: Weighted average number of shares outstanding used to calculate basic income per share from continuing operations 23,770 2,562 23,557 2,562 Weighted average number of shares from stock options 164 - 212 - Conversion of Class B to Class A common shares outstanding 2,562 - 2,562 - Weighted average number of shares outstanding used to calculate diluted income per share from continuing operations 26,496 2,562 26,331 2,562 Diluted income per share from continuing operations applicable to common stockholders $ 1.93 $ 1.93 $ 1.34 $ 1.34 Diluted distributed income per share from continuing operations applicable to common stockholders (0.20 ) (0.20 ) (0.16 ) (0.16 ) Diluted undistributed income per share from continuing operations applicable to common stockholders $ 1.73 $ 1.73 $ 1.18 $ 1.18 Three Months Ended June 30 , 2015 2014 Diluted EPS Class A Class B Class A Class B Antidilutive Securities Shares issuable pursuant to stock options not included since they were antidilutive 17 - 12 - Six Months Ended June 30 , 2015 2014 Basic EPS from Continuing Operations Class A Class B Class A Class B Numerator: Income from continuing operations applicable to common stockholders $ 82,929 $ 8,947 $ 53,976 $ 5,888 Distributed income applicable to common stockholders (8,559 ) (923 ) (6,814 ) (743 ) Basic undistributed income from continuing operations applicable to common stockholders $ 74,370 $ 8,024 $ 47,162 $ 5,145 Denominator: Weighted average number of shares outstanding used to calculate basic income per share 23,748 2,562 23,485 2,562 Basic income per share from continuing operations applicable to common stockholders $ 3.49 $ 3.49 $ 2.30 $ 2.30 Basic distributed income per share from continuing operations applicable to common stockholders (0.36 ) (0.36 ) (0.29 ) (0.29 ) Basic undistributed income per share from continuing operations applicable to common stockholders $ 3.13 $ 3.13 $ 2.01 $ 2.01 Six Months Ended June 30 , 2015 2014 Diluted EPS from Continuing Operations Class A Class B Class A Class B Numerator: Distributed income applicable to common stockholders $ 8,559 $ 923 $ 6,814 $ 743 Reallocation of distributed income as a result of conversion of dilutive stock options 7 (7 ) 8 (8 ) Reallocation of distributed income due to conversion of Class B to Class A common shares outstanding 916 - 735 - Diluted distributed income applicable to common stockholders $ 9,482 $ 916 $ 7,557 $ 735 Undistributed income from continuing operations applicable to common stockholders $ 74,370 $ 8,024 $ 47,162 $ 5,145 Reallocation of undistributed income as a result of conversion of dilutive stock options 61 (61 ) 55 (55 ) Reallocation of undistributed income due to conversion of Class B to Class A 7,963 - 5,090 - Diluted undistributed income from continuing operations applicable to common stockholders $ 82,394 $ 7,963 $ 52,307 $ 5,090 Denominator: Weighted average number of shares outstanding used to calculate basic income per share from continuing operations 23,748 2,562 23,485 2,562 Weighted average number of shares from stock options 199 - 279 - Conversion of Class B to Class A common shares outstanding 2,562 - 2,562 - Weighted average number of shares outstanding used to calculate diluted income per share from continuing operations 26,509 2,562 26,326 2,562 Diluted income per share from continuing operations applicable to common stockholders $ 3.47 $ 3.47 $ 2.27 $ 2.27 Diluted distributed income per share from continuing operations applicable to common stockholders (0.36 ) (0.36 ) (0.29 ) (0.29 ) Diluted undistributed income per share from continuing operations applicable to common stockholders $ 3.11 $ 3.11 $ 1.98 $ 1.98 Six Months Ended June 30 , 2015 2014 Diluted EPS Class A Class B Class A Class B Antidilutive Securities Shares issuable pursuant to stock options not included since they were antidilutive 16 - 14 -

Note 11 - Equity-Method Inves32

Note 11 - Equity-Method Investment (Tables)	6 Months Ended
	Jun. 30, 2015
Consolidated Balance Sheets [Member]
Note 11 - Equity-Method Investment (Tables) [Line Items]
Equity Method Investments [Table Text Block]	June 30 , 201 5 December 31, 2014 Carrying value, recorded as a component of other non-current assets $ 34,009 $ 33,282 Present value of obligation associated with future equity contributions, recorded as a component of accrued liabilities and other long-term liabilities 33,582 32,177
Consolidated Statements of Operations [Member]
Note 11 - Equity-Method Investment (Tables) [Line Items]
Equity Method Investments [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Asset impairments to write investment down to fair value $ 4,130 $ - $ 8,260 $ - Our portion of the partnership’s operating losses 1,733 - 3,465 - Non-cash interest expense related to the amortization of the discounted fair value of future equity contributions 183 - 394 - Tax benefits and credits generated 7,652 - 14,902 -

Note 12 - Segments (Tables)

Note 12 - Segments (Tables)	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Revenues: Domestic $ 768,989 $ 641,378 $ 1,460,393 $ 1,210,308 Import 853,444 394,924 1,612,082 745,985 Luxury 372,369 185,826 709,290 344,437 1,994,802 1,222,128 3,781,765 2,300,730 Corporate and other 2,145 (326 ) 4,360 (822 ) $ 1,996,947 $ 1,221,802 $ 3,786,125 $ 2,299,908 Segment income*: Domestic $ 31,045 $ 25,288 $ 58,174 $ 47,710 Import 25,904 14,768 42,005 24,033 Luxury 9,515 5,832 15,414 8,017 66,464 45,888 115,593 79,760 Corporate and other 9,175 11,186 18,102 18,018 Income from continuing operations before income taxes $ 75,639 $ 57,074 $ 133,695 $ 97,778 Floor plan interest expense: Domestic $ 4,932 $ 4,404 $ 9,669 $ 8,463 Import 3,724 1,904 7,422 3,711 Luxury 2,308 1,036 4,369 2,165 10,964 7,344 21,460 14,339 Corporate and other (6,309 ) (4,129 ) (12,156 ) (8,140 ) $ 4,655 $ 3,215 $ 9,304 $ 6,199
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	June 30, 2015 December 31, 2014 Total assets: Domestic $ 922,933 $ 831,574 Import 711,944 696,162 Luxury 422,318 405,222 Corporate and other 947,660 947,974 $ 3,004,855 $ 2,880,932

Note 2 - Accounts Receivable (D

Note 2 - Accounts Receivable (Details) - Accounts Receivable - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable	$ 316,832	$ 320,841
Less: Allowances	(2,993)	(3,130)
Less: Long-term portion of accounts receivable, net	(26,031)	(22,332)
Total accounts receivable, net	287,808	295,379
Contracts in Transit [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable	159,225	162,785
Trade Accounts Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable	33,637	37,194
Vehicle Receivables [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable	33,763	34,876
Manufacturer Receivables [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable	54,281	56,008
Auto Loan Receivables [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable	31,375	25,424
Other Receivables [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable	$ 4,551	$ 4,554

Note 3 - Inventories (Details)

Note 3 - Inventories (Details) - Inventories - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Inventory [Line Items]
Inventories, net	$ 1,367,317	$ 1,249,659
New Vehicle [Member]
Inventory [Line Items]
Inventories, net	1,024,686	958,876
Used Vehicle [Member]
Inventory [Line Items]
Inventories, net	292,270	240,908
Parts and Accessories [Member]
Inventory [Line Items]
Inventories, net	$ 50,361	$ 49,875

Note 4 - Goodwill and Franchi36

Note 4 - Goodwill and Franchise Value (Details) $ in Millions	Dec. 31, 2008USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, Impaired, Accumulated Impairment Loss	$ 299.3

Note 4 - Goodwill and Franchi37

Note 4 - Goodwill and Franchise Value (Details) - Goodwill - USD ($) $ in Thousands		6 Months Ended	12 Months Ended
		Jun. 30, 2015	Dec. 31, 2014
Goodwill [Line Items]
Balance	[1]	$ 199,129	$ 199,375
Reduction related to divestiture		(246)
Additions through acquisitions			149,864
Domestic [Member]
Goodwill [Line Items]
Balance	[1]	91,011	91,011
Additions through acquisitions			68,463
Import [Member]
Goodwill [Line Items]
Balance	[1]	79,355	79,601
Reduction related to divestiture		(246)
Additions through acquisitions			62,804
Luxury [Member]
Goodwill [Line Items]
Balance	[1]	$ 28,763	28,763
Additions through acquisitions			$ 18,597
[1]	Net of accumulated impairment losses of $299.3 million recorded during the year ended December 31, 2008.

Note 4 - Goodwill and Franchi38

Note 4 - Goodwill and Franchise Value (Details) - Franchise Value - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Franchise Value [Abstract]
Balance	$ 150,856	$ 150,892
Additions through acquisitions		80,233
Reduction related to divestiture and transfer to assets held for sale	$ (36)	$ (540)

Note 5 - Stockholders' Equity39

Note 5 - Stockholders' Equity (Details) - Common Class A [Member] - USD ($) $ / shares in Units, $ in Millions	6 Months Ended	47 Months Ended
	Jun. 30, 2015	Jun. 30, 2015	Jul. 20, 2012	Aug. 31, 2011
Note 5 - Stockholders' Equity (Details) [Line Items]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased				2,000,000
Stock Repurchased During Period, Shares	98,947	1,598,723
Treasury Stock Acquired, Average Cost Per Share (in Dollars per share)	$ 100.29	$ 35.56
Stock Repurchased During Period, Value (in Dollars)	$ 9.9
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased	1,401,277	1,401,277
Additional Shares Authorized [Member]
Note 5 - Stockholders' Equity (Details) [Line Items]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased			1,000,000
Restricted Stock Units (RSUs) [Member]
Note 5 - Stockholders' Equity (Details) [Line Items]
Treasury Stock Acquired, Average Cost Per Share (in Dollars per share)	$ 88.45
Shares Paid for Tax Withholding for Share Based Compensation	77,438
Adjustments Related to Tax Withholding for Share-based Compensation (in Dollars)	$ 6.9

Note 5 - Stockholders' Equity40

Note 5 - Stockholders' Equity (Details) - Reclassification from Accumulated Other Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Floor Plan Interest Expense [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Loss on cash flow hedges	$ (108)	$ (118)	$ (233)	$ (252)
Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Loss on cash flow hedges, net	(66)	(73)	(143)	(156)
Reclassification out of Accumulated Other Comprehensive Income [Member] | Floor Plan Interest Expense [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Loss on cash flow hedges	(108)	(118)	(233)	(252)
Reclassification out of Accumulated Other Comprehensive Income [Member] | Income Tax Provision [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Taxes	$ 42	$ 45	$ 90	$ 96

Note 5 - Stockholders' Equity41

Note 5 - Stockholders' Equity (Details) - Dividends Paid - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Dividends Paid [Abstract]
Dividend amount per share	$ 0.20	$ 0.16	$ 0.36	$ 0.29
Total amount of dividend (in thousands)	$ 5,266	$ 4,179	$ 9,482	$ 7,557

Note 6 - Deferred Compensatio42

Note 6 - Deferred Compensation and Long-Term Incentive Plan (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Other Noncurrent Liabilities [Member]
Note 6 - Deferred Compensation and Long-Term Incentive Plan (Details) [Line Items]
Deferred Compensation Liability, Classified, Noncurrent	$ 16	$ 14.2
Minimum [Member]
Note 6 - Deferred Compensation and Long-Term Incentive Plan (Details) [Line Items]
Deferred Compensation Arrangement with Individual, Requisite Service Period	1 year
Maximum [Member]
Note 6 - Deferred Compensation and Long-Term Incentive Plan (Details) [Line Items]
Deferred Compensation Arrangement with Individual, Requisite Service Period	7 years

Note 6 - Deferred Compensatio43

Note 6 - Deferred Compensation and Long-Term Incentive Plan (Details) - Compensation Expense - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Compensation Expense [Abstract]
Compensation expense	$ 463	$ 377	$ 920	$ 1,077
Discretionary contribution	$ 153		$ 2,249	$ 2,100
Guaranteed annual return	5.25%	5.25%	5.25%	5.25%

Note 7 - Fair Value Measureme44

Note 7 - Fair Value Measurements (Details) - Jun. 30, 2015 - USD ($) $ in Millions	Total	Total
Fair Value Disclosures [Abstract]
Equity Method Investment, Other than Temporary Impairment	$ 4.1	$ 8.3
Impairment of Real Estate	$ 2

Note 7 - Fair Value Measureme45

Note 7 - Fair Value Measurements (Details) - Assets and Liabilities Measured at Fair Value - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative contracts, net	$ (1,187)	$ (1,750)
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity-method investment	34,009	$ 33,282
Fair Value, Inputs, Level 3 [Member] | Building and Building Improvements [Member] | Fair Value, Measurements, Nonrecurring [Member]
Long-lived assets held and used:
Certain buildings and improvements	$ 3,367

Note 7 - Fair Value Measureme46

Note 7 - Fair Value Measurements (Details) - Long-term Fixed Interest Rate Debt - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Long-term Fixed Interest Rate Debt [Abstract]
Carrying value	$ 253,934	$ 257,780
Fair value	$ 260,408	$ 270,781

Note 8 - Derivative Financial47

Note 8 - Derivative Financial Instrument (Details) - Jun. 30, 2015 - Interest Rate Swap [Member] - USD ($) $ in Millions	Total
Note 8 - Derivative Financial Instrument (Details) [Line Items]
Derivative Liability, Notional Amount	$ 25
Derivative, Maturity Date	Jun. 15, 2016
Derivative, Fixed Interest Rate	5.587%
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months	$ 1
London Interbank Offered Rate (LIBOR) [Member]
Note 8 - Derivative Financial Instrument (Details) [Line Items]
Derivative, Variable Interest Rate	0.19%

Note 8 - Derivative Financial48

Note 8 - Derivative Financial Instrument (Details) - Fair Value of Derivative Instruments in Consolidated Balance Sheets - Designated as Hedging Instrument [Member] - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Interest rate swap contracts	$ 1,187	$ 1,750
Accounts Payable and Accrued Liabilities [Member]
Derivatives, Fair Value [Line Items]
Interest rate swap contracts	$ 1,187	1,194
Other Noncurrent Liabilities [Member]
Derivatives, Fair Value [Line Items]
Interest rate swap contracts		$ 556

Note 8 - Derivative Financial49

Note 8 - Derivative Financial Instrument (Details) - Effect of Derivative Instruments on Consolidated Statements of Operations - Floor Plan Interest Expense [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Interest Rate Swap Contract, Amount of Gain Recognized in Accumulated OCI (Effective Portion)	$ 151	$ 93	$ 252	$ 201
Interest Rate Swap Contract, Amount of Loss Reclassified from Accumulated OCI into Income (Effective Portion)	(108)	(118)	(233)	(252)
Interest Rate Swap Contract, Amount of Loss Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)	$ (191)	$ (188)	$ (368)	$ (359)

Note 9 - Assets Held for Sale50

Note 9 - Assets Held for Sale and Discontinued Operations (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Note 9 - Assets Held for Sale and Discontinued Operations (Details) [Line Items]
Gain (Loss) on Disposition of Business	$ 5,919	$ 5,744
Selling, General and Administrative Expenses [Member] | Import Store [Member]
Note 9 - Assets Held for Sale and Discontinued Operations (Details) [Line Items]
Gain (Loss) on Disposition of Business	$ 5,900

Note 9 - Assets Held for Sale51

Note 9 - Assets Held for Sale and Discontinued Operations (Details) - Assets and Related Liabilities Held for Sale $ in Thousands	Dec. 31, 2014USD ($)
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale	$ 8,563
Floor plan notes payable	4,892
Inventory [Member]
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale	6,284
Property Plant and Equipment Held for Sale [Member]
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale	1,739
Intangible Assets [Member]
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale	$ 540

Note 9 - Assets Held for Sale52

Note 9 - Assets Held for Sale and Discontinued Operations (Details) - Financial Information of Discontinued Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Financial Information of Discontinued Operations [Abstract]
Revenue		$ 3,920		$ 12,569
Pre-tax loss from discontinued operations		(532)		(467)
Net gain on disposal activities		5,744		5,744
		5,212		5,277
Income tax expense		(2,073)		(2,098)
Income from discontinued operations, net of income tax expense	$ 0	3,139	$ 0	3,179
Goodwill and other intangible assets disposed of	157	221	246	221
Cash generated from disposal activities	9,286	10,617	12,966	10,617
Floor plan debt paid in connection with disposal activities	$ 2,192	$ 3,311	$ 4,400	$ 3,311

Note 10 - Net Income Per Shar53

Note 10 - Net Income Per Share of Class A and Class B Common Stock (Details) - Earnings Per Share Reconciliation - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Numerator:
Income from continuing operations applicable to common stockholders	$ 51,223	$ 35,170	$ 91,876	$ 59,864
Denominator:
Weighted average number of shares outstanding used to calculate basic income per share (in Shares)	26,332	26,119	26,310	26,047
Weighted average number of shares outstanding used to calculate diluted income per share from continuing operations (in Shares)	26,496	26,331	26,509	26,326
Diluted income per share from continuing operations applicable to common stockholders (in Dollars per share)	$ 1.93	$ 1.45	$ 3.47	$ 2.39
Basic income per share from continuing operations applicable to common stockholders (in Dollars per share)	$ 1.95	$ 1.35	$ 3.49	$ 2.30
Common Class A [Member]
Numerator:
Income from continuing operations applicable to common stockholders	$ 46,239	$ 31,720	$ 82,929	$ 53,976
Distributed income applicable to common stockholders	(4,754)	(3,769)	(8,559)	(6,814)
Basic undistributed income from continuing operations applicable to common stockholders	$ 41,485	$ 27,951	$ 74,370	$ 47,162
Denominator:
Weighted average number of shares outstanding used to calculate basic income per share (in Shares)	23,770	23,557	23,748	23,485
Weighted average number of shares from stock options (in Shares)	164	212	199	279
Conversion of Class B to Class A common shares outstanding (in Shares)	2,562	2,562	2,562	2,562
Weighted average number of shares outstanding used to calculate diluted income per share from continuing operations (in Shares)	26,496	26,331	26,509	26,326
Diluted income per share from continuing operations applicable to common stockholders (in Dollars per share)	$ 1.93	$ 1.34	$ 3.47	$ 2.27
Diluted distributed income per share from continuing operations applicable to common stockholders (in Dollars per share)	(0.20)	(0.16)	(0.36)	(0.29)
Diluted undistributed income per share from continuing operations applicable to common stockholders (in Dollars per share)	1.73	1.18	3.11	1.98
Basic income per share from continuing operations applicable to common stockholders (in Dollars per share)	1.95	1.35	3.49	2.30
Basic distributed income per share from continuing operations applicable to common stockholders (in Dollars per share)	(0.20)	(0.16)	(0.36)	(0.29)
Basic undistributed income per share from continuing operations applicable to common stockholders (in Dollars per share)	$ 1.75	$ 1.19	$ 3.13	$ 2.01
Numerator:
Distributed income applicable to common stockholders	$ 4,754	$ 3,769	$ 8,559	$ 6,814
Undistributed income from continuing operations applicable to common stockholders	$ 41,485	$ 27,951	$ 74,370	$ 47,162
Common Class A [Member] | Employee Stock Option [Member]
Antidilutive Securities
Shares issuable pursuant to stock options not included since they were antidilutive (in Shares)	17	12	16	14
Common Class B [Member]
Numerator:
Income from continuing operations applicable to common stockholders	$ 4,984	$ 3,450	$ 8,947	$ 5,888
Distributed income applicable to common stockholders	(512)	(410)	(923)	(743)
Basic undistributed income from continuing operations applicable to common stockholders	$ 4,472	$ 3,040	$ 8,024	$ 5,145
Denominator:
Weighted average number of shares outstanding used to calculate basic income per share (in Shares)	2,562	2,562	2,562	2,562
Weighted average number of shares outstanding used to calculate diluted income per share from continuing operations (in Shares)	2,562	2,562	2,562	2,562
Diluted income per share from continuing operations applicable to common stockholders (in Dollars per share)	$ 1.93	$ 1.34	$ 3.47	$ 2.27
Diluted distributed income per share from continuing operations applicable to common stockholders (in Dollars per share)	(0.20)	(0.16)	(0.36)	(0.29)
Diluted undistributed income per share from continuing operations applicable to common stockholders (in Dollars per share)	1.73	1.18	3.11	1.98
Basic income per share from continuing operations applicable to common stockholders (in Dollars per share)	1.95	1.35	3.49	2.30
Basic distributed income per share from continuing operations applicable to common stockholders (in Dollars per share)	(0.20)	(0.16)	(0.36)	(0.29)
Basic undistributed income per share from continuing operations applicable to common stockholders (in Dollars per share)	$ 1.75	$ 1.19	$ 3.13	$ 2.01
Numerator:
Distributed income applicable to common stockholders	$ 512	$ 410	$ 923	$ 743
Undistributed income from continuing operations applicable to common stockholders	$ 4,472	$ 3,040	$ 8,024	$ 5,145
Common Class B [Member] | Employee Stock Option [Member]
Antidilutive Securities
Shares issuable pursuant to stock options not included since they were antidilutive (in Shares)	0	0	0	0
Distributed [Member] | Common Class A [Member]
Numerator:
Reallocation of income as a result of conversion of dilutive stock options	$ 3	$ 3	$ 7	$ 8
Reallocation of income due to conversion of Class B to Class A	509	407	916	735
Distributed [Member] | Common Class B [Member]
Numerator:
Reallocation of income as a result of conversion of dilutive stock options	(3)	(3)	(7)	(8)
Diluted [Member] | Common Class A [Member]
Numerator:
Distributed income applicable to common stockholders	(5,266)	(4,179)	(9,482)	(7,557)
Numerator:
Distributed income applicable to common stockholders	5,266	4,179	9,482	7,557
Undistributed income from continuing operations applicable to common stockholders	45,957	30,991	82,394	52,307
Diluted [Member] | Common Class B [Member]
Numerator:
Distributed income applicable to common stockholders	(509)	(407)	(916)	(735)
Numerator:
Distributed income applicable to common stockholders	509	407	916	735
Undistributed income from continuing operations applicable to common stockholders	4,444	3,015	7,963	5,090
Undistributed [Member] | Common Class A [Member]
Numerator:
Reallocation of income as a result of conversion of dilutive stock options	28	25	61	55
Reallocation of income due to conversion of Class B to Class A	4,444	3,015	7,963	5,090
Undistributed [Member] | Common Class B [Member]
Numerator:
Reallocation of income as a result of conversion of dilutive stock options	$ (28)	$ (25)	$ (61)	$ (55)

Note 11 - Equity-Method Inves54

Note 11 - Equity-Method Investment (Details) - NMTC Program [Member] - USD ($) $ in Millions	1 Months Ended	3 Months Ended	6 Months Ended	9 Months Ended
	Oct. 31, 2014	Jun. 30, 2015	Jun. 30, 2015	Jun. 30, 2015
Note 11 - Equity-Method Investment (Details) [Line Items]
Equity Method Investment, Ownership Percentage	99.90%
Payments to Acquire Equity Method Investments	$ 4.1	$ 5.7	$ 11.4	$ 15.5
Equity Method Investment, Equity Contribution Obligation		$ 49.8	$ 49.8	$ 49.8
Equity Method Investment, Equity Contribution Obligation, Term			2 years

Note 11 - Equity-Method Inves55

Note 11 - Equity-Method Investment (Details) - Equity-Method Investment Recorded in Consolidated Balance Sheets - NMTC Program [Member] - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Other Noncurrent Assets [Member]
Schedule of Equity Method Investments [Line Items]
Carrying value, recorded as a component of other non-current assets	$ 34,009	$ 33,282
Accrued Liabilities and Other Long-term Liabilities [Member]
Schedule of Equity Method Investments [Line Items]
Present value of obligation associated with future equity contributions, recorded as a component of accrued liabilities and other long-term liabilities	$ 33,582	$ 32,177

Note 11 - Equity-Method Inves56

Note 11 - Equity-Method Investment (Details) - Equity-Method Investment Recorded in Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Schedule of Equity Method Investments [Line Items]
Asset impairments to write investment down to fair value	$ 4,100		$ 8,300
NMTC Program [Member]
Schedule of Equity Method Investments [Line Items]
Asset impairments to write investment down to fair value	4,130	$ 0	8,260	$ 0
Our portion of the partnership’s operating losses	1,733	0	3,465	0
Non-cash interest expense related to the amortization of the discounted fair value of future equity contributions	183	0	394	0
Tax benefits and credits generated	$ 7,652	$ 0	$ 14,902	$ 0

Note 12 - Segments (Details)

Note 12 - Segments (Details)	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Number of Reportable Segments	3

Note 12 - Segments (Details) -

Note 12 - Segments (Details) - Certain Segment Financial Information - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Segment Reporting Information [Line Items]
Revenues		$ 1,996,947	$ 1,221,802	$ 3,786,125	$ 2,299,908
Income from continuing operations before income taxes	[1]	75,639	57,074	133,695	97,778
Floor plan interest expesne		4,655	3,215	9,304	6,199
Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues		1,994,802	1,222,128	3,781,765	2,300,730
Income from continuing operations before income taxes	[1]	66,464	45,888	115,593	79,760
Floor plan interest expesne		10,964	7,344	21,460	14,339
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Revenues		2,145	(326)	4,360	(822)
Income from continuing operations before income taxes	[1]	9,175	11,186	18,102	18,018
Floor plan interest expesne		(6,309)	(4,129)	(12,156)	(8,140)
Domestic [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues		768,989	641,378	1,460,393	1,210,308
Income from continuing operations before income taxes	[1]	31,045	25,288	58,174	47,710
Floor plan interest expesne		4,932	4,404	9,669	8,463
Import [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues		853,444	394,924	1,612,082	745,985
Income from continuing operations before income taxes	[1]	25,904	14,768	42,005	24,033
Floor plan interest expesne		3,724	1,904	7,422	3,711
Luxury [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues		372,369	185,826	709,290	344,437
Income from continuing operations before income taxes	[1]	9,515	5,832	15,414	8,017
Floor plan interest expesne		$ 2,308	$ 1,036	$ 4,369	$ 2,165
[1]	Segment income is defined as operating income less floor plan interest expense.

Note 12 - Segments (Details) 59

Note 12 - Segments (Details) - Segment Assets - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Total assets:
Total Assets	$ 3,004,855	$ 2,880,932
Domestic [Member] | Operating Segments [Member]
Total assets:
Total Assets	922,933	831,574
Import [Member] | Operating Segments [Member]
Total assets:
Total Assets	711,944	696,162
Luxury [Member] | Operating Segments [Member]
Total assets:
Total Assets	422,318	405,222
Corporate and Other [Member] | Operating Segments [Member]
Total assets:
Total Assets	$ 947,660	$ 947,974

Note 14 - Subsequent Events (De

Note 14 - Subsequent Events (Details) - Jul. 20, 2015 - Subsequent Event [Member] - USD ($) $ / shares in Units, $ in Millions	Total
Note 14 - Subsequent Events (Details) [Line Items]
Dividends, Common Stock, Cash (in Dollars)	$ 5.3
Common Class A [Member]
Note 14 - Subsequent Events (Details) [Line Items]
Common Stock, Dividends, Per Share, Declared	$ 0.20
Common Class B [Member]
Note 14 - Subsequent Events (Details) [Line Items]
Common Stock, Dividends, Per Share, Declared	$ 0.20

Uncategorized Items - lad-20150

Label		Element	Value
Domestic [Member]
Goodwill	[1]	us-gaap_Goodwill	$ 22,548
Import [Member]
Goodwill	[1]	us-gaap_Goodwill	16,797
Luxury [Member]
Goodwill	[1]	us-gaap_Goodwill	$ 10,166
[1]	Net of accumulated impairment losses of $299.3 million recorded during the year ended December 31, 2008.