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Inventories

9 Months Ended

Sep. 30, 2014

3. Inventories

Inventories consist of the following:

	September 30, 2014			December 31, 2013
	(In thousands)

New vehicles	$	856,393		$	938,263
Used vehicles		187,071			171,909
Service loaners		106,915			108,136
Parts, accessories and other		60,645			63,830
Subtotal	$	1,211,024		$	1,282,138
Less inventories classified as assets held for sale		(7,630	)		-
Net inventories	$	1,203,394		$	1,282,138

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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