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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 126,572 $ 131,726
Accounts receivable, net 195,120 190,650
Note receivable affiliate 18,629 12,885
Inventories, net 1,465,442 1,339,923
Prepaid expenses and other 11,425 10,491
Assets held for sale 2,269 2,269
Total current assets 1,819,457 1,687,944
Property and equipment, net 1,195,824 1,184,053
Right-of-use assets, net 53,144
Goodwill, net 291,725 291,391
Other assets, net 61,876 37,962
Total assets 3,422,026 3,201,350
Current liabilities:    
Floor plan notes payable 1,111,473 1,023,019
Line of credit 75,000
Current maturities of long-term debt 157,213 161,955
Current maturities of finance lease obligations 19,709 19,631
Current maturities of operating lease obligations 9,528
Trade accounts payable 149,077 127,451
Customer deposits 24,438 36,183
Accrued expenses 104,247 125,056
Total current liabilities 1,650,685 1,493,295
Long-term debt, net of current maturities 438,794 439,218
Finance lease obligations, net of current maturities 49,947 49,483
Operating lease obligations, net of current maturities 43,746
Other long-term liabilities 13,975 11,118
Deferred income taxes, net 141,458 141,308
Shareholders’ equity:    
Preferred stock, par value $.01 per share; 1,000,000 shares authorized; 0 shares outstanding in 2019 and 2018 0 0
Common stock, par value $.01 per share; 60,000,000 Class A shares and 20,000,000 Class B shares authorized; 28,186,893 Class A shares and 8,462,616 Class B shares outstanding in 2019; and 28,709,636 Class A shares and 8,290,277 Class B shares outstanding in 2018 462 458
Additional paid-in capital 379,454 370,025
Treasury stock, at cost: 4,430,753 Class A shares and 5,084,211 Class B shares in 2019 and 3,791,751 Class A shares and 5,030,787 Class B shares in 2018 (271,890) (245,842)
Retained earnings 975,011 942,287
Accumulated other comprehensive income 384
Total shareholders’ equity 1,083,421 1,066,928
Total liabilities and shareholders’ equity $ 3,422,026 $ 3,201,350