AutoNation 2000 Annual Report Download - page 52

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The Company made interest payments of approximately $264.3 million, $175.2
million and $190.2 million for the years ended December 31, 2000, 1999 and
1998, respectively, including interest on vehicle inventory financing. The
Company made income tax payments of approximately $49.9 million, $84.2 million
and $139.8 million for the years ended December 31, 2000, 1999 and 1998,
respectively.
As further discussed in Note 3, Notes Payable and Long-Term Debt, the
Company amended the terms of an existing lease facility and as a result, the
underlying leases have been accounted for as capital leases in 2000, with the
property and related debt included in the accompanying Consolidated Balance
Sheets.
2. BUSINESS ACQUISITIONS AND DIVESTITURES
Businesses acquired through December 31, 2000 and accounted for under the
purchase method of accounting are included in the Consolidated Financial
Statements from the date of acquisition.
During the year ended December 31, 2000, the Company acquired various
automotive retail businesses. The Company paid approximately $190.9 million in
cash for these acquisitions, all of which were accounted for under the purchase
method of accounting. During 2000, the Company also paid approximately $122.4
million in deferred purchase price for certain prior year automotive retail
acquisitions. At December 31, 2000, the Company accrued approximately $24.5
million of deferred purchase price due to former owners of acquired businesses.
During the year ended December 31, 1999, the Company acquired various
automotive retail businesses. The Company paid approximately $879.1 million in
cash for these acquisitions, all of which were accounted for under the purchase
method of accounting. During 1999, the Company also paid approximately $34.9
million in deferred purchase price for certain prior year automotive retail
acquisitions.
51
AUTONATION, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS -- (Continued)
2. BUSINESS ACQUISITIONS AND DIVESTITURES -- (Continued)
During the year ended December 31, 1998, the Company acquired various
businesses in the automotive retail, solid waste services and automotive rental
industries. With respect to continuing operations, the Company issued
approximately 21.9 million shares of the Company's common stock, par value $.01
per share, valued at $473.2 million and paid approximately $804.3 million in
cash for acquisitions accounted for under the purchase method of accounting.
With respect to discontinued operations, the Company issued approximately 3.4
million shares of common stock valued at $68.0 million and paid approximately
$494.4 million in cash and certain properties for acquisitions accounted for
under the purchase method of accounting.
The preliminary purchase price allocations for business combinations
accounted for under the purchase method of accounting related to continuing
operations for the years ended December 31 were as follows: