AutoNation 2015 Annual Report Download - page 74
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Table of Contents
Intangible Assets
Our principal identifiable intangible assets are individual store rights under franchise agreements with vehicle manufacturers. As of December 31, 2015,
we had $432.4 million of franchise rights recorded on our Consolidated Balance Sheet, of which $67.9 million was related to Domestic stores, $120.9 million
was related to Import stores, and $243.6 million was related to Premium Luxury stores.
See Note 16 of the Notes to Consolidated Financial Statements for more information about our annual impairment tests of goodwill and franchise rights.
At December 31, 2015 and 2014, current and long-term self-insurance reserves were included in Other Current Liabilities and Other Liabilities,
respectively, in the Consolidated Balance Sheets as follows:
Self-insurance reserves - current portion $ 27.2
$ 24.9
Self-insurance reserves - long-term portion 47.6
46.5
Total self-insurance reserves $ 74.8
$ 71.4
Long-term debt at December 31 consisted of the following:
6.75% Senior Notes due 2018 $ 397.9
$ 397.1
5.5% Senior Notes due 2020 350.0
350.0
3.35% Senior Notes due 2021 300.0
—
4.5% Senior Notes due 2025 448.5
—
Revolving credit facility due 2019 —
1,110.0
Mortgage facility(1) 175.7
185.5
Capital leases and other debt 95.0
85.8
1,767.1
2,128.4
Less: current maturities (13.4)
(25.0)
Long-term debt, net of current maturities $ 1,753.7
$ 2,103.4
(1) The mortgage facility requires monthly principal and interest payments of $1.7 million based on a fixed amortization schedule with a balloon
payment of $155.4 million due November 2017.
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