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

9 Months Ended

Sep. 30, 2012

Property and Equipment [Abstract]

Property and Equipment

4. Property and Equipment

Property and equipment consists of the following:


(In thousands)	September 30, 2012			December 31, 2011
Land	$	134,407		$	131,865
Building and improvements		459,757			455,650
Office equipment and fixtures		111,406			92,920
Parts and service equipment		61,270			61,561
Company vehicles		8,027			8,391
Construction in progress		33,929			16,191

Total, at cost		808,796			766,578
Less accumulated depreciation		(240,867	)		(214,541	)

Property and equipment, net	$	567,929		$	552,037

In the third quarter and nine-month periods ended September 30, 2012, capital expenditures were approximately $20.7 million and $55.2 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.

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