Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v2.4.0.8
Summary of Significant Accounting Policies (Tables)
 9 Months Ended
Sep. 30, 2013
Accounting Policies [Abstract]  
Summary of Operating Lease Exit Accruals

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)

      2,331   

Payments (2)

      (6,568 ) 
  

 

 

  

Balance, September 30, 2013

    $ 28,746   
  

 

 

  

 

(1) Expense of approximately $0.2 million is recorded in interest expense, other, net, expense of approximately $0.1 million is recorded in SG&A, and expense of approximately $2.0 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 $0.9 million in continuing operations and $5.7 million in income (loss) from operations and the sale of dealerships in the accompanying Unaudited Condensed Consolidated Statements of Income.