Annual report pursuant to Section 13 and 15(d)

Long-Term Debt (Details Textual)

v2.4.0.6
Long-Term Debt (Details Textual) (USD $)
12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 9 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended
Dec. 31, 2012
Agreement
Dec. 31, 2011
Dec. 31, 2010
Sep. 23, 2009
Dec. 31, 2012
Assumed Notes [Member]
Notes
Dec. 31, 2012
9.0% Senior Subordinate Note due 2018 [Member]
Dec. 31, 2011
9.0% Senior Subordinate Note due 2018 [Member]
Mar. 12, 2010
9.0% Senior Subordinate Note due 2018 [Member]
Dec. 31, 2012
5.0% Convertible Senior Note due 2029 [Member]
Dec. 31, 2011
5.0% Convertible Senior Note due 2029 [Member]
Dec. 31, 2010
5.0% Convertible Senior Note due 2029 [Member]
Jul. 27, 2012
5.0% Convertible Senior Note due 2029 [Member]
Jun. 30, 2012
5.0% Convertible Senior Note due 2029 [Member]
Sep. 23, 2009
5.0% Convertible Senior Note due 2029 [Member]
Dec. 31, 2012
7.0% Senior Subordinated Notes due 2022 [Member]
Dec. 31, 2012
5.0 % Convertible Notes [Member]
Dec. 31, 2011
5.0 % Convertible Notes [Member]
Dec. 31, 2012
Other Debt [Member]
Dec. 31, 2011
Other Debt [Member]
Dec. 31, 2012
Senior Subordinated Notes [Member]
Jul. 02, 2012
Senior Subordinated Notes [Member]
Dec. 31, 2012
Mortgage Loan at Fix Interest Rate [Member]
Dec. 31, 2011
Mortgage Loan at Fix Interest Rate [Member]
Dec. 31, 2012
Mortgage Loan at Variable Interest Rate [Member]
Dec. 31, 2011
Mortgage Loan at Variable Interest Rate [Member]
Dec. 31, 2012
Mortgage Notes Payable [Member]
Dec. 31, 2011
Mortgage Notes Payable [Member]
Sep. 30, 2012
Mortgage Notes [Member]
Properties
Dec. 31, 2012
Mortgage Notes [Member]
Dec. 31, 2012
2011 Used Vehicle Floor Plan Facility [Member]
Dec. 31, 2012
Derivative Instruments and Hedging Activities [Member]
Dec. 31, 2011
Derivative Instruments and Hedging Activities [Member]
Dec. 31, 2010
Derivative Instruments and Hedging Activities [Member]
Dec. 31, 2012
Derivative Instruments and Hedging Activities [Member]
Other Accrued Liabilities [Member]
Dec. 31, 2011
Derivative Instruments and Hedging Activities [Member]
Other Accrued Liabilities [Member]
Dec. 31, 2012
Derivative Instruments and Hedging Activities [Member]
Other Long term Liabilities [Member]
Dec. 31, 2011
Derivative Instruments and Hedging Activities [Member]
Other Long term Liabilities [Member]
Dec. 31, 2012
Maximum [Member]
Dec. 31, 2012
Maximum [Member]
Mortgage Loan at Fix Interest Rate [Member]
Dec. 31, 2012
Maximum [Member]
Mortgage Loan at Variable Interest Rate [Member]
Dec. 31, 2012
Minimum [Member]
Dec. 31, 2012
Minimum [Member]
Mortgage Loan at Fix Interest Rate [Member]
Dec. 31, 2012
Minimum [Member]
Mortgage Loan at Variable Interest Rate [Member]
Dec. 31, 2012
Weighted Average [Member]
Dec. 31, 2012
2011 Revolving Credit Facility [Member]
Rate
Dec. 31, 2011
2011 Revolving Credit Facility [Member]
Rate
Dec. 31, 2012
2011 Revolving Credit Facility [Member]
Maximum [Member]
Dec. 31, 2012
2011 Credit Facility [Member]
Sep. 30, 2012
2011 Credit Facility [Member]
Maximum [Member]
Dec. 31, 2012
2011 Credit Facility [Member]
Maximum [Member]
Required ratio [Member]
Sep. 30, 2012
2011 Credit Facility [Member]
Minimum [Member]
Dec. 31, 2012
2011 Credit Facility [Member]
Minimum [Member]
Required ratio [Member]
Dec. 31, 2012
2011 New Vehicle Floor Plan Facility [Member]
Dec. 31, 2012
2011 New Vehicle Floor Plan Facility [Member]
2011 Used Vehicle Floor Plan Facility [Member]
Dec. 31, 2012
Paid-In Capital [Member]
Dec. 31, 2011
Paid-In Capital [Member]
Dec. 31, 2012
Paid-In Capital [Member]
5.0 % Convertible Notes [Member]
Dec. 31, 2012
Common Class A [Member]
Dec. 31, 2011
Common Class A [Member]
Dec. 31, 2012
Common Class A [Member]
5.0% Convertible Senior Note due 2029 [Member]
Jul. 27, 2012
Common Class A [Member]
5.0 % Convertible Notes [Member]
Jul. 02, 2012
Common Class A [Member]
5.0 % Convertible Notes [Member]
Long-Term Debt (Textual) [Abstract]                                                                                                                            
Stock issued                                                                                                                 4,100,000          
Stock issued                                                                                                                   4,075,000        
Notes maturity date           Mar. 15, 2018     Oct. 01, 2029                     Jul. 15, 2022                                                                                    
Stock price per share $ 16.6554               $ 16.6554                                                                                                          
Interest on notes 5.00% 5.00%     5.35% 9.00%     5.00%           7.00% 5.00%       7.00%                                   10.52% 7.03%   9.52% 4.07%   10.19%                     5.00% 5.00%            
Receive Rate one-month LIBOR                                                                                                                          
Debt weighted average interest rate on note                                                         4.62%                                                                  
Interest rate                                                                                         2.25% 2.25%                                
Common stock, shares issued                                                                                                                   61,352,134 56,377,778   4,100,000 4,100,000
Discount associated with notes           $ 1,100,000 $ 1,200,000     $ 17,700,000         $ 1,700,000   $ 17,700,000                 $ 700,000 $ 900,000                                                                      
Premium associated with notes 700,000 1,200,000     700,000                                                                                                                  
Maturity date of 2011 Revolving credit facility and Floor plan facility                                                                                               Aug. 15, 2016                            
Increased Borrowing Capacity                                                                                         225,000,000   175,000,000                              
Percentage of fair market value of common stock to calculate available credit facility                                                                                         50.00%                                  
Number of common stock shares pledged as collateral                                                                                         5,000,000                                  
Increase in Credit facility Borrowing Capacity                                                                                                           175,000,000                
Borrowing Base                                                                                         175,000,000                                  
Letters of credit outstanding amount                                                                                         34,800,000                                  
5.0% Convertible Notes 629,385,000 547,619,000     10,600,000 210,000,000 210,000,000     155,055,000         200,000,000     5,431,000 5,752,000     137,791,000 116,584,000 62,229,000 65,640,000                                       6,176,000                                  
Borrowing available                                                                                         134,000,000                                  
Minimum Outstanding Balance for Maturity date Extension                                                                                         35,000,000                                  
Maximum Borrowing Capacity under 2011 Used Vehicle Facility                                                           80,000,000                                             500,000,000                  
Allocation of Credit Facility Increase, percentage                                                                                                         15.00%                  
Debt Conversion, number of shares for weighted average pricing                                                                                                                       30.2070    
Total amount paid in cash on conversion of debt                 137,100,000                                                                                                          
Debt extinguishment charges                 20,900,000                                                                                                          
Amount charged to interest, expense and other 60,090,000 66,857,000 73,179,000           1,200,000                                                                                                          
Final consideration for convertible notes 1,503.11                                                                                                                          
EBTDAR to rent ratio                                                                                                 3.00 1.50 1.00 1.00                    
Unsecured senior subordinated obligations, description           9.0% Notes                                                                                                                
Debt instrument date of required interest payments           semi-annually on March 15 and September 15 each year                                                                                                                
Debt instrument earliest redemption date           after March 15, 2014                                                                                                                
Indenture 9.0% notes           101.00%                                                                                                                
Restrictive covenants           Dec. 31, 2012                                                                                                                
Interest expense associated with amortization of debt discount and deferred loan costs                 3,500,000 6,700,000 6,400,000                                                                                                      
Interest expense related to Convertible Notes                 4,200,000 8,400,000 8,700,000                                                                                                      
Mortgage financing aggregate                                                         200,000,000                                                                  
Mortgage financing related to dealership properties                                                       21                                                                    
Fair value of swap positions                                                             34,300,000 37,600,000   12,100,000 13,200,000 22,200,000 24,400,000                                                  
Notional forward 2                                                                                                                          
Interest rate cash flow swap agreements 100,000,000                                                                                                                          
Duration of Interest rate cash flow swap agreements July 2015 and terminate in June 2017                                                                                                                          
Incremental interest expense 13,400,000 17,700,000 17,600,000                                                                                                                      
One-month LIBOR rate 0.209%                                                                             3.50%     1.25%                                      
Net expense expected to be reclassified 7,500,000                                                                                                                          
Aggregate principal amount               210,000,000       1,000   172,500,000             200,000,000                                                                                  
Notes issued at a price of principal amount                                       99.11%                                                                                    
Notes issued yield maturity, percentage       5.00%                                 7.125%                                                                                  
Debt discount on notes 2,780,000 5,158,000 5,195,000           31,000,000                                                                                                          
Debt discount on notes, net of taxes                 12,800,000                                                                                                          
Estimated non convertible borrowing rate                 10.50%                                                                                                          
Repurchased aggregate principal amount in convertible notes                 232,800,000       20,200,000                                                                                                  
Principal amount repurchased related to convertible notes                 155,100,000       30,000,000                                                                                                  
Amount of outstanding convertible notes                       134,900,000                                                                                                    
Estimated fair value of common stock issued                 67,900,000                                                                                                 614,000 564,000      
Cash Repayment on conversion                               164,900,000                                                                                            
Estimated fair value of common stock issued per share                                                                                                                   $ 0.01 $ 0.01      
Fair value of liability component 48,100,000 49,700,000             156,700,000                                                                                                          
Date of first required payment                                       Jan. 15, 2013                                                                                    
Interest payable description                                       Semi-annually in arrears on January 15 and July 15 of each year                                                                                    
Notes redeemed percentage of aggregate principal amount           35.00%                           35.00%                                                                                    
Notes redemption price percentage of the par value                                       107.00%                                                                                    
Notes redemption price percentage of the par value due to change of control                                       101.00%                                                                                    
Debt instrument maximum allowed dividends per share           $ 0.10                           $ 0.10                                                                                    
Outstanding principal amount of the 7.0% Notes 25.00%                                                                                                                          
Indebtedness with outstanding balance           35,000,000                           35,000,000                                                                                    
Acceleration of notes obligation by holders           25.00%                                                                                                                
Number of notes payable         3                                                                                                                  
Notes payable due date         October 2015 and August 2016                                               between June 2013 and March 2031                                                                  
Premium recorded on Notes payable         7,300,000                                                                                                                  
Remaining unamortized premium balance 700,000 1,200,000     700,000                                                                                                                  
Benefits and charges related to Cash flow swaps not designated as hedges                                                             $ 700,000 $ 800,000 $ 4,900,000                                                          
Covenants under 2011 Credit facilities                                                                                               Sonic agreed under the 2011 Credit Facilities not to pledge any assets to any third party, subject to certain stated exceptions, including floor plan financing arrangements                            
Restrictive Covenants Under 2011 Credit facilities and 7 % Notes                                       Specifically, the indenture governing Sonic’s 7.0% Notes limits Sonic’s ability to pay quarterly cash dividends on Sonic’s Class A and B common stock in excess of $0.10 per share. Sonic may only pay quarterly cash dividends on Sonic’s Class A and B common stock if Sonic complies with the terms of the indenture governing the 7.0% Notes.                                                       The 2011 Credit Facilities contain certain negative covenants. Specifically, the 2011 Credit Facilities permit cash dividends on Sonic’s Class A and Class B common stock so long as no event of default (as defined in the 2011 Credit Facilities) has occurred and is continuing and provided that Sonic remains in compliance with all financial covenants under the 2011 Credit Facilities.                            
Debt Default Description under 9% and 7% Notes           Sonic’s obligations under the 9.0% Notes may be accelerated by the holders of 25% of the outstanding principal amount of the 9.0% Notes then outstanding if certain events of default occur, including: (1) defaults in the payment of principal or interest when due; (2) defaults in the performance, or breach, of Sonic’s covenants under the 9.0% Notes; and (3) certain defaults under other agreements under which Sonic or its subsidiaries have outstanding indebtedness in excess of $35.0 million.                           Sonic’s obligations under the 7.0% Notes may be accelerated by the holders of 25% of the outstanding principal amount of the 7.0% Notes then outstanding if certain events of default occur, including: (1) defaults in the payment of principal or interest when due; (2) defaults in the performance, or breach, of Sonic’s covenants under the 7.0% Notes; and (3) certain defaults under other agreements under which Sonic or its subsidiaries have outstanding indebtedness in excess of $35.0 million.