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AN » Topics » Issuer Purchases of Equity Securities

This excerpt taken from the AN 10-K filed Feb 17, 2010.

Issuer Purchases of Equity Securities

The table below sets forth information with respect to shares of common stock repurchased by AutoNation, Inc. during 2009.

 

Period

   Total Number
of Shares
    Purchased    		   Average
Price Paid
  Per Share  		   Total Number of
Shares
Purchased as
Part of Publicly
Announced
    Plans(1)     		   Approximate
Dollar Value of
Shares That May
Yet Be Purchased
Under the Plans
    (in millions)(1)    

October 1, 2009 – October 31, 2009

   1,600,253           $17.62   1,600,000       $298.6

November 1, 2009 – November 30, 2009

   1,415,300           $17.59   1,415,300       $273.7

December 1, 2009 – December 31, 2009

   943,500           $17.86   943,500       $256.9
           

Total for 3 months ended December 31, 2009

       3,959,053             3,958,800      
           

Total for 12 months ended December 31, 2009

   7,671,531             7,652,883      
           

 

(1) On October 23, 2007, our Board of Directors approved a stock repurchase program that authorized us to repurchase up to $250 million in shares of our common stock. In 2009, all of our shares were repurchased under our stock repurchase program, except for 18,648 shares that were surrendered to AutoNation to satisfy tax withholding obligations in connection with the vesting of restricted stock (6,174 shares in March 2009, 11,836 shares in July 2009, 385 shares in August 2009, and 253 shares in October 2009). This program does not have an expiration date. In October 2009, our Board of Directors authorized an additional $250 million under our existing share repurchase program. Future share repurchases are subject to limitations contained in the indenture relating to our senior unsecured notes (the “Indenture”). As of December 31, 2009, approximately $45.3 million remained available for share repurchases and other restricted payments under the Indenture. See “Liquidity and Capital Resources – Restrictions and Covenants” in Part II, Item 7 of this Form 10-K for more information.

 

18

Table of Contents
These excerpts taken from the AN 10-K filed Feb 17, 2009.
Issuer Purchases of Equity Securities
 
On October 23, 2007, our Board of Directors approved a share repurchase program (the “Share Repurchase Program”), which authorized AutoNation to repurchase up to $250 million in shares of our common stock. The Share Repurchase Program does not have an expiration date. During the fourth quarter of 2008, we did not repurchase any shares of our common stock. As of December 31, 2008, up to $142.7 million in shares may yet be repurchased under the Share Repurchase Program.
 
Issuer
Purchases of Equity Securities


 



On October 23, 2007, our Board of Directors approved a
share repurchase program (the “Share Repurchase
Program”), which authorized AutoNation to repurchase up to
$250 million in shares of our common stock. The Share
Repurchase Program does not have an expiration date. During the
fourth quarter of 2008, we did not repurchase any shares of our
common stock. As of December 31, 2008, up to
$142.7 million in shares may yet be repurchased under the
Share Repurchase Program.


 




These excerpts taken from the AN 10-K filed Feb 28, 2008.
Issuer Purchases of Equity Securities
 
The table below sets forth information with respect to shares of common stock repurchased by AutoNation, Inc. during the three months ended December 31, 2007. See Note 9, Shareholders’ Equity, of the Notes to Consolidated Financial Statements for additional information regarding our stock repurchase programs.
 
                                 
                Total Number of
 		       
                Shares Purchased as
 		    Maximum Dollar Value
 		 
    Total Number
 		    Average
 		    Part of Publicly
 		    of Shares that May Yet Be
 		 
    of Shares
 		    Price Paid
 		    Announced
 		    Purchased Under the
 		 
Period
  Purchased(1)     per Share     Programs(2)     Programs (In millions)(2)(3)  
 
October 1, 2007 to October 31, 2007
    100,000     $ 17.76       100,000     $ 259.8  
November 1, 2007 to November 30, 2007
    2,382,000     $ 16.62       2,382,000     $ 220.2  
December 1, 2007 to December 31, 2007
    1,500,000     $ 15.65       1,500,000     $ 196.7  
                                 
Total
    3,982,000               3,982,000          
                                 
 
 
(1) No shares were repurchased other than through our publicly announced repurchase programs during the fourth quarter of our fiscal year ended December 31, 2007.
 
(2) On April 25, 2007, our Board of Directors approved a stock repurchase program (referred to as the “April 2007 Program”), which authorized AutoNation to repurchase up to $500 million in shares of our common stock. 678,875 of the shares repurchased in October and November 2007 were repurchased under the April 2007 Program. We have repurchased the entire amount authorized under the April 2007 Program. On October 23, 2007, our Board of Directors approved a new stock repurchase program (referred to as the “October 2007 Program”), which authorized AutoNation to repurchase up to $250 million in shares of our common stock. 3,303,125 of the shares repurchased in November and December 2007 were repurchased under the October 2007 Program. The October 2007 Program does not have an expiration date.
 
(3) Future share repurchases are subject to limitations contained in the indenture relating to our senior unsecured notes. As of January 1, 2008, we had approximately $30 million available for share repurchases and other restricted payments that are subject to these limitations. This amount will increase in future periods by 50% of our cumulative consolidated net income (as defined in the indenture), the net proceeds of stock option exercises and certain other items, and decrease by the amount of future share repurchases and other restricted payments subject to these limitations. For further information, see Note 7, Notes Payable and Long-Term Debt, of the Notes to Consolidated Financial Statements.


19

Table of Contents

Issuer
Purchases of Equity Securities


 



The table below sets forth information with respect to shares of
common stock repurchased by AutoNation, Inc. during the three
months ended December 31, 2007. See Note 9,
Shareholders’ Equity, of the Notes to Consolidated
Financial Statements for additional information regarding our
stock repurchase programs.


 
























































































































































































































                                 

 

 

 

 

 

 

 

 

Total Number of



 

 

 

 

 

 

 

 

 

 

 

 

Shares Purchased as



 

 

Maximum Dollar Value



 

 

 

Total Number



 

 

Average



 

 

Part of Publicly



 

 

of Shares that May Yet Be



 

 

 

of Shares



 

 

Price Paid



 

 

Announced



 

 

Purchased Under the



 


Period


 

Purchased(1)

 

 

per Share

 

 

Programs(2)

 

 

Programs (In
millions)(2)(3)

 
 


October 1, 2007 to October 31, 2007


 

 

100,000

 

 

$

17.76

 

 

 

100,000

 

 

$

259.8

 


November 1, 2007 to November 30, 2007


 

 

2,382,000

 

 

$

16.62

 

 

 

2,382,000

 

 

$

220.2

 


December 1, 2007 to December 31, 2007


 

 

1,500,000

 

 

$

15.65

 

 

 

1,500,000

 

 

$

196.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


Total


 

 

3,982,000

 

 

 

 

 

 

 

3,982,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 






 




 





































(1)
No shares were repurchased other than through our publicly
announced repurchase programs during the fourth quarter of our
fiscal year ended December 31, 2007.
 

(2)
On April 25, 2007, our Board of Directors approved a stock
repurchase program (referred to as the “April 2007
Program”), which authorized AutoNation to repurchase up to
$500 million in shares of our common stock. 678,875 of the
shares repurchased in October and November 2007 were repurchased
under the April 2007 Program. We have repurchased the entire
amount authorized under the April 2007 Program. On
October 23, 2007, our Board of Directors approved a new
stock repurchase program (referred to as the “October 2007
Program”), which authorized AutoNation to repurchase up to
$250 million in shares of our common stock. 3,303,125 of
the shares repurchased in November and December 2007 were
repurchased under the October 2007 Program. The October 2007
Program does not have an expiration date.
 

(3)
Future share repurchases are subject to limitations contained in
the indenture relating to our senior unsecured notes. As of
January 1, 2008, we had approximately $30 million
available for share repurchases and other restricted payments
that are subject to these limitations. This amount will increase
in future periods by 50% of our cumulative consolidated net
income (as defined in the indenture), the net proceeds of stock
option exercises and certain other items, and decrease by the
amount of future share repurchases and other restricted payments
subject to these limitations. For further information, see
Note 7, Notes Payable and Long-Term Debt, of the Notes to
Consolidated Financial Statements.





19




Table of Contents







This excerpt taken from the AN 10-K filed Feb 28, 2007.
Issuer Purchases of Equity Securities
 
The table below sets forth information with respect to shares of common stock repurchased by AutoNation, Inc. during the three months ended December 31, 2006. See Note 9 of our Notes to Unaudited Consolidated Financial Statements for additional information regarding our stock repurchase programs.
 
                                 
                Total Number of
 		       
                Shares Purchased as
 		    Maximum Dollar Value of
 		 
    Total Number
 		    Average
 		    Part of Publicly
 		    Shares That May Yet Be
 		 
    of Shares
 		    Price Paid
 		    Announced
 		    Purchased Under the
 		 
Period
  Purchased     per Share     Programs     Program (in millions)(1)(2)  
 
October 1, 2006 to October 31, 2006
    50,000     $ 20.05       50,000     $     134.6  
November 1, 2006 to November 30, 2006
    1,050,000     $ 20.26       1,050,000     $ 113.3  
December 1, 2006 to December 31, 2006
    1,000,000     $ 20.92       1,000,000     $ 92.4  
Total
    2,100,000               2,100,000          
 
 
(1) Future share repurchases are subject to limitations contained in the indentures relating to the Company’s new senior unsecured notes and amended credit agreement relating to its revolving credit facility.
 
(2) Shares are repurchased under our stock repurchase program approved by the Company’s Board of Directors in June 2006, which authorized the Company to repurchase up to $250.0 million of shares. This program does not have an expiration date.


17

Table of Contents

 
This excerpt taken from the AN 10-K filed Feb 24, 2005.
Issuer Purchases of Equity Securities

      The table below sets forth information with respect to shares of common stock repurchased by AutoNation, Inc. during the three months ended December 31, 2004. See Note 10 of our Notes to Unaudited Consolidated Financial Statements for additional information regarding our stock repurchase programs.

                                 
Total Number of Maximum Dollar Value of
Total Number Average Shares Purchased as Shares That May Yet Be
Of Shares Price Paid Part of Publicly Purchased Under the
Period Purchased per Share Announced Programs Program (in millions)(1)(2)
October 1, 2004 to
October 31, 2004
    —       —       —     $ 354.5  
November 1, 2004 to
November 30, 2004
    1,000,000     $ 17.90       1,000,000     $ 336.5  
December 1, 2004 to
December 31, 2004
    1,500,000     $ 18.75       1,500,000     $ 308.4  
Total
    2,500,000               2,500,000          

(1)  Future share repurchases are subject to limitations contained in the indenture relating to the Company’s senior unsecured notes and credit agreements relating to its two revolving credit facilities.

17

Table of Contents

(2)  Shares repurchased under our stock repurchase program announced on May 14, 2003, which authorizes the Company to repurchase up to $500.0 million of shares. This program does not have an expiration date. Additionally, in October 2004, the Company’s Board of Directors authorized an additional $250.0 million share repurchase program.

EXCERPTS ON THIS PAGE:

10-K
Feb 17, 2010
10-K (2 sections)
Feb 17, 2009
10-K (2 sections)
Feb 28, 2008
10-K
Feb 28, 2007
10-K
Feb 24, 2005

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