AutoNation 2007 Annual Report Download - page 21

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Table of Contents

The table below sets forth information with respect to shares of common stock repurchased by AutoNation, Inc. during the three months
ended December 31, 2007. See Note 9, Shareholders’ Equity, of the Notes to Consolidated Financial Statements for additional information
regarding our stock repurchase programs.

 
   
   
    
October 1, 2007 to October 31, 2007 100,000 $ 17.76 100,000 $ 259.8
November 1, 2007 to November 30, 2007 2,382,000 $ 16.62 2,382,000 $ 220.2
December 1, 2007 to December 31, 2007 1,500,000 $ 15.65 1,500,000 $ 196.7
Total 3,982,000 3,982,000
(1) No shares were repurchased other than through our publicly announced repurchase programs during the fourth quarter of our fiscal year
ended December 31, 2007.
(2) On April 25, 2007, our Board of Directors approved a stock repurchase program (referred to as the “April 2007 Program”), which
authorized AutoNation to repurchase up to $500 million in shares of our common stock. 678,875 of the shares repurchased in October
and November 2007 were repurchased under the April 2007 Program. We have repurchased the entire amount authorized under the April
2007 Program. On October 23, 2007, our Board of Directors approved a new stock repurchase program (referred to as the “October 2007
Program”), which authorized AutoNation to repurchase up to $250 million in shares of our common stock. 3,303,125 of the shares
repurchased in November and December 2007 were repurchased under the October 2007 Program. The October 2007 Program does not
have an expiration date.
(3) Future share repurchases are subject to limitations contained in the indenture relating to our senior unsecured notes. As of January 1,
2008, we had approximately $30 million available for share repurchases and other restricted payments that are subject to these limitations.
This amount will increase in future periods by 50% of our cumulative consolidated net income (as defined in the indenture), the net
proceeds of stock option exercises and certain other items, and decrease by the amount of future share repurchases and other restricted
payments subject to these limitations. For further information, see Note 7, Notes Payable and Long-Term Debt, of the Notes to
Consolidated Financial Statements.
19