|
A summary of the activity of these operating lease exit accruals consists of the following:
| |
|
|
|
|
| |
|
(In thousands) |
|
| |
|
|
Balance, December 31, 2012
|
|
$ |
32,983 |
|
|
Lease exit expense (1)
|
|
|
788 |
|
|
Payments (2)
|
|
|
(2,197 |
) |
| |
|
|
|
|
|
Balance, March 31, 2013
|
|
$ |
31,574 |
|
| |
|
|
|
|
| (1) |
Expense of approximately $0.1 million is recorded in interest expense, other, net, and expense of approximately $0.7 million is recorded to income (loss) from
operations and the sale of dealerships in the accompanying Unaudited Condensed Consolidated Statements of Income. |
| (2) |
Amount is recorded as an offet to rent expense in selling, general and administrative expenses, with approximately $0.3 million in continuing operations and $1.9
million as a reduction of income (loss) from operations and the sale of dealerships in the accompanying Unaudited Condensed Consolidated Statements of Income. |
|