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

3 Months Ended

Mar. 31, 2013

Property and Equipment [Abstract]

Property and Equipment

4. Property and Equipment

Property and equipment consists of the following:


(In thousands)	March 31, 2013			December 31, 2012

Land	$	160,490		$	142,730
Building and improvements		506,734			476,846
Office equipment and fixtures		118,658			115,509
Parts and service equipment		65,589			62,678
Company vehicles		7,916			7,750
Construction in progress		43,543			39,139

Total, at cost		902,930			844,652
Less accumulated depreciation		(261,133	)		(249,528	)

Property and equipment, net	$	641,797		$	595,124

In the first quarters ended March 31, 2013 and 2012, capital expenditures were approximately $59.3 million and $12.0 million, respectively, and were primarily related to real estate acquisitions, 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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