AutoNation 2006 Annual Report Download - page 65
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Table of Contents
A summary of the total assets and liabilities of discontinued operations included in Other Current Assets and Other Current
Liabilities is as follows:
Inventory $ 21.3 $ 109.5
Other current assets 7.5 30.8
Property and equipment, net 4.0 63.9
Goodwill 4.0 19.1
Other non-current assets .2 1.3
Total assets $ 37.0 $ 224.6
Vehicle floorplan payable-trade $ 14.7 $ 102.3
Vehicle floorplan payable-non-trade 4.8 1.9
Other current liabilities 6.2 16.2
Total liabilities $ 25.7 $ 120.4
Responsibility for the Company’s vehicle floorplan payable at the time of divestiture is assumed by the buyer. Cash received from
business divestitures is net of vehicle floorplan payable assumed by the buyer.
The changes in the components of other comprehensive income (loss), net of income taxes, are as follows for the years ended
December 31:
Unrealized gains (losses) on cash flow hedges,
restricted investments and marketable
securities $ (3.6) $1.4 $ (2.2) $ 5.0 $(1.7) $ 3.3 $ 2.6 $(.9) $ 1.7
The accumulated other comprehensive loss in the accompanying Consolidated Statements of Shareholders’ Equity and
Comprehensive Income (Loss) is $(.4) million, $1.8 million and $(1.5) million at December 31, 2006, 2005 and 2004, respectively.
The Company acquired various automotive retail franchises and related assets during the years ended December 31, 2006, 2005
and 2004. The Company paid approximately $166.5 million, $6.0 million and $194.6 million, respectively, in cash during 2006, 2005
and 2004 for automotive retail acquisitions. The Company also paid $.2 million, $9.9 million and $3.3 million during 2006, 2005 and
2004, respectively, in deferred purchase price for certain prior year automotive retail acquisitions. During 2006, 2005 and 2004, the
Company acquired five, two and eight automobile retail franchises and other related assets, respectively. At December 31, 2006 and
2005, the Company had accrued approximately $4.2 million and $1.0 million, respectively, of deferred purchase price due to former
owners of acquired businesses, which is included in Other Current Liabilities.
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