Sonic Automotive, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

Property and Equipment

6 Months Ended

Jun. 30, 2012

Property and Equipment [Abstract]

Property and Equipment

4. Property and Equipment

Property and equipment consists of the following:


(In thousands)	June 30, 2012			December 31, 2011

Land	$	134,407		$	131,865
Building and improvements		455,973			455,650
Office equipment and fixtures		108,044			92,920
Parts and service equipment		62,136			61,561
Company vehicles		8,183			8,391
Construction in progress		25,026			16,191

Total, at cost		793,769			766,578
Less accumulated depreciation		(232,395	)		(214,541	)

Property and equipment, net	$	561,374		$	552,037

In the second quarter and six-month periods ended June 30, 2012, capital expenditures were approximately $22.5 million and $34.5 million, respectively, and were primarily related to construction of new dealerships, building improvements and equipment purchased for use in Sonic’s dealerships.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

+ References + Details