Send us Feedback

AutoNation (AN)
Analysis
SUMMARY
BULLS
BEARS
TOPICS
Data
DATA CENTRAL
STOCK CHART
Financials
SEC FILINGS
BALANCE
INCOME
CASH FLOW

AN » Topics » Contractual Payment Obligations

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

Contractual Payment Obligations

The following table summarizes our payment obligations under certain contracts at December 31, 2009:

 

    Payments Due by Period
(In millions)   Total   Less Than
One Year		   1 - 3 Years   3 - 5 Years   More Than 5
Years

Vehicle floorplan payable (Note 3)*

     $     1,388.0     $     1,388.0     $     -         $     -         $     -    

Notes payable and long-term debt (Note 7)*

     1,112.6     7.6     616.7     297.5     190.8 

Interest payments **

     141.7     23.5     45.6     38.6     34.0 

Operating lease and other commitments (Note 8)***

     592.3     55.5     106.0     85.8     345.0 

Acquisition purchase price commitments

     29.9     16.8     -         13.1     -    

Unrecognized tax benefits, net (Note 11)*

     3.6     0.3     0.1     -         3.2 

Purchase obligations

     128.3     54.8     52.6     20.6     0.3 
                             

Total

     $     3,396.4     $     1,546.5     $     821.0     $     455.6     $     573.3 
                             

 

 

* See Notes to Consolidated Financial Statements.

 

** Primarily represents scheduled interest payments on fixed rate senior unsecured notes and mortgage facilities. Estimates of future interest payments for vehicle floorplan payables and other variable rate debt are excluded.

 

*** Amounts for operating lease commitments do not include certain operating expenses such as maintenance, insurance, and real estate taxes. In 2009, these charges totaled approximately $30 million. See Note 8 of the Notes to Consolidated Financial Statements.

 

49

Table of Contents

In the ordinary course of business, we are required to post performance and surety bonds, letters of credit, and/or cash deposits as financial guarantees of our performance. At December 31, 2009, surety bonds, letters of credit, and cash deposits totaled $96.4 million, including $64.7 million letters of credit. We do not currently provide cash collateral for outstanding letters of credit. We have negotiated a letter of credit sub-limit as part of our revolving credit facility. The amount available to be borrowed under this revolving credit facility is reduced on a dollar-for-dollar basis by the cumulative amount of any outstanding letters of credit.

As further discussed in Note 11 of the Notes to Consolidated Financial Statements, there are various tax matters where the ultimate resolution may result in us owing additional tax payments.

This excerpt taken from the AN 10-K filed Feb 17, 2009.
Contractual Payment Obligations
 
The following table summarizes our payment obligations under certain contracts at December 31, 2008:
 
                                         
    Payments Due by Period  
          Less Than
 		                More Than
 		 
    Total     One Year     1 - 3 Years     3 - 5 Years     5 Years  
(In millions)        
 
Vehicle floorplan payable (Note 3)*
  $ 1,927.9     $ 1,927.9     $ —     $ —     $ —  
Notes payable and long-term debt (Note 7)*
    1,258.9       33.3       50.8       812.1       362.7  
Interest payments**
    177.8       26.4       50.7       48.7       52.0  
Operating lease commitments (Note 8)***
    569.3       51.9       93.8       85.8       337.8  
Acquisition purchase price commitments
    17.5       4.4       —       —       13.1  
FIN 48 unrecognized tax benefits, net (Note 11)*
    9.3       —       5.4       0.6       3.3  
Purchase obligations
    168.5       45.5       54.8       47.4       20.8  
                                         
Total
  $ 4,129.2     $ 2,089.4     $ 255.5     $ 994.6     $ 789.7  
                                         
 
 
* See Notes to Consolidated Financial Statements.
 
** Primarily represents scheduled interest payments on fixed rate senior unsecured notes and mortgage facilities. Estimates of future interest payments for vehicle floorplan payables and other variable rate debt are excluded.
 
*** Amounts for operating lease commitments do not include certain operating expenses such as maintenance, insurance, and real estate taxes. In 2008, these charges totaled approximately $48 million. See Note 8 of the Notes to Consolidated Financial Statements.
 
In the ordinary course of business, we are required to post performance and surety bonds, letters of credit, and/or cash deposits as financial guarantees of our performance. At December 31, 2008, surety bonds, letters of credit, and cash deposits totaled $110.2 million, including $72.4 million letters of credit. We do not currently provide cash collateral for outstanding letters of credit. We have negotiated a letter of credit sub-limit as part of our revolving credit facility. The amount available to be borrowed under this revolving credit facility is reduced on a dollar-for-dollar basis by the cumulative amount of any outstanding letters of credit.
 
As further discussed in Note 11 of the Notes to Consolidated Financial Statements there are various tax matters where the ultimate resolution may result in us owing additional tax payments.
 
This excerpt taken from the AN 10-K filed Feb 28, 2008.
Contractual Payment Obligations
 
The following table summarizes our payment obligations under certain contracts at December 31, 2007:
 
                                         
    Payments Due by Period  
          Less Than
 		                More Than
 		 
    Total     One Year     1 - 3 Years     3 - 5 Years     5 Years  
(In millions)                              
 
Vehicle floorplan payable (Note 3)*
  $ 2,181.8     $ 2,181.8     $ —     $ —     $ —  
Notes payable and long-term debt (Note 7)*
    1,775.8       23.9       65.3       876.5       810.1  
Interest payments **
    227.7       36.8       69.0       67.2       54.7  
Operating lease commitments (Note 8)***
    665.2       60.6       105.8       90.7       408.1  
Acquisition purchase price commitments
    30.0       30.0       —       —       —  
FIN 48 unrecognized tax benefits, net (Note 11)*
    52.1       39.0       —       —       13.1  
Purchase obligations
    154.8       72.4       56.5       25.8       0.1  
                                         
Total
  $ 5,087.4     $ 2,444.5     $ 296.6     $ 1,060.2     $ 1,286.1  
                                         
 
 
* See Notes to Consolidated Financial Statements.
 
** Represents scheduled interest payments on fixed rate senior unsecured notes. Estimates of future interest payments for vehicle floorplan payables and other variable rate debt are excluded.
 
*** Amounts for operating lease commitments do not include certain operating expenses such as maintenance, insurance, and real estate taxes. In 2007, these charges totaled approximately $50 million. See Note 8, Commitments and Contingencies, of the Notes to Consolidated Financial Statements.
 
In the ordinary course of business, we are required to post performance and surety bonds, letters of credit, and/or cash deposits as financial guarantees of our performance. At December 31, 2007, surety bonds, letters of credit, and cash deposits totaled $111.6 million, including $78.8 million letters of credit. We do not currently provide cash collateral for outstanding letters of credit. We have negotiated a letter of credit sub-limit as part of our revolving credit facility. The amount available to be borrowed under this revolving credit facility is reduced on a dollar-for-dollar basis by the cumulative amount of any outstanding letters of credit.
 
As further discussed under the heading “Provision for Income Taxes,” there are various tax matters where the ultimate resolution may result in us owing additional tax payments.
 
This excerpt taken from the AN 10-K filed Feb 28, 2007.
Contractual Payment Obligations
 
The following table summarizes our payment obligations under certain contracts at December 31, 2006 (in millions):
 
                                         
    Payments Due by Period  
          Less Than
 		                More Than
 		 
    Total     One Year     1-3 Years     3-5 Years     5 Years  
 
Total vehicle floorplan payable (Note 3)*
  $ 2,265.0     $ 2,265.0     $ —     $ —     $ —  
Notes payable and long-term debt (Note 7)*
    1,571.5       13.6       125.9       832.0       600.0  
Interest payments**
    162.7       22.6       44.0       42.7       53.4  
Operating lease commitments (Note 8)*
    504.7       60.7       102.4       78.1       263.5  
Acquisition purchase price commitments
    4.2       4.2       —       —       —  
Purchase obligations
    148.3       69.1       44.3       34.8       .1  
                                         
Total
  $ 4,656.4     $ 2,435.2     $ 316.6     $ 987.6     $ 917.0  
                                         
 
 
  *  See Notes to Consolidated Financial Statements.
 
**  Represents scheduled interest payments on fixed rate senior unsecured notes. Estimates of future interest payments for vehicle floorplan payables and other variable rate debt are excluded.
 
In the ordinary course of business, we are required to post performance and surety bonds, letters of credit, and/or cash deposits as financial guarantees of our performance. At December 31, 2006, surety bonds, letters of credit and cash deposits totaled $124.9 million, including $92.3 million letters of credit. We do not currently provide cash collateral for outstanding letters of credit. We have negotiated a letter of credit sub-limit as part of our revolving credit facility. The amount available to be borrowed under this revolving credit facility is reduced on a dollar-for-dollar basis by the cumulative amount of any outstanding letters of credit.
 
As further discussed under the heading “Provision for Income Taxes,” there are various tax matters where the ultimate resolution may result in us owing additional tax payments.
 
This excerpt taken from the AN 10-K filed Feb 24, 2005.
Contractual Payment Obligations

      The following table summarizes our payment obligations under certain contracts at December 31, 2004 (in millions):

                                           
Payments Due by Period
Less than More than
Total one Year 1-3 Years 3-5 Years 5 Years
Vehicle floorplan payable (Note 3)*
  $ 2,517.3     $ 2,517.3     $ —     $ —     $ —  
Notes payable and long-term debt (Note 8)*
    812.6       14.9       68.6       593.7       135.4  
Operating lease commitments (Note 9)*
    494.0       60.1       99.8       77.4       256.7  
Acquisition purchase price commitments
    10.5       10.5       —       —       —  
Purchase obligations
    140.1       51.2       34.1       27.3       27.5  
     
     
     
     
     
 
 
Total
  $ 3,974.5     $ 2,654.0     $ 202.5     $ 698.4     $ 419.6  
     
     
     
     
     
 

*  See Notes to Consolidated Financial Statements.

      In the ordinary course of business, we are required to post performance and surety bonds, letters of credit, and/or cash deposits as financial guarantees of our performance. At December 31, 2004, surety bonds, letters of credit and cash deposits totaled $107.1 million, including $77.0 million letters of credit. We do not currently provide cash collateral for outstanding letters of credit. We have negotiated a letter of credit line as part of our multi-year revolving credit facility. Under the terms of the letter of credit line, the amount available to be borrowed under this revolving credit facility is reduced on a dollar-for-dollar basis by the cumulative face amount of any outstanding letters of credit.

      As further discussed under the heading “Financial Condition,” there are various tax matters where the ultimate resolution may result in us owing additional tax payments.

EXCERPTS ON THIS PAGE:

10-K
Feb 17, 2010
10-K
Feb 17, 2009
10-K
Feb 28, 2008
10-K
Feb 28, 2007
10-K
Feb 24, 2005

RELATED TOPICS for AN:

"Contractual Payment Obligations" elsewhere:

AMERICAS CARMART INC (CRMT)
Lithia Motors (LAD)
PENSKE AUTOMOTIVE GROUP, INC. (PAG)
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki