AutoNation 2015 Annual Report Download - page 73
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Table of Contents
A summary of property and equipment, net, at December 31 is as follows:
Land $ 1,178.4
$ 1,090.4
Buildings and improvements 1,856.6
1,683.4
Furniture, fixtures, and equipment 642.2
578.7
3,677.2
3,352.5
Less: accumulated depreciation and amortization (1,009.8)
(930.5)
Property and equipment, net $ 2,667.4
$ 2,422.0
We capitalized interest in connection with various construction projects to upgrade or remodel our facilities of $0.9 million in 2015, $1.2 million in 2014,
and $0.7 million in 2013.
Goodwill and intangible assets, net, at December 31 consisted of the following:
Goodwill $ 1,394.5
$ 1,314.7
Franchise rights - indefinite-lived $ 432.4
$ 348.1
Other intangible assets 14.3
12.6
446.7
360.7
Less: accumulated amortization (6.8)
(6.0)
Intangible assets, net $ 439.9
$ 354.7
Goodwill
Goodwill allocated to our reporting units and changes in the carrying amount of goodwill for the years ended December 31, 2015 and 2014 were as
follows:
Goodwill at January 1, 2014 (1) $ 165.2
$ 555.8
$ 538.6
$ —
$ 1,259.6
Acquisitions, dispositions, and other adjustments 9.9
(4.2)
49.4
—
55.1
Goodwill at December 31, 2014 (1) 175.1
551.6
588.0
—
1,314.7
Acquisitions, dispositions, and other adjustments 28.0
19.3
32.5
—
79.8
Goodwill at December 31, 2015 (1) $ 203.1
$ 570.9
$ 620.5
$ —
$ 1,394.5
(1) Net of accumulated impairment losses of $1.47 billion ($1.25 billion after-tax) associated with our single reporting unit (prior to September 30, 2008,
our reporting unit structure was comprised of a single reporting unit) and $140.0 million ($119.0 million after-tax) associated with our Domestic
reporting unit, both of which were recorded during the year ended December 31, 2008.
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