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This excerpt taken from the AN 10-K filed Feb 17, 2010. Employee Savings Plan We offer a 401(k) plan to all of our employees and provided a matching contribution to certain employees that participated of $4.5 million in 2008 and $5.1 million in 2007. Effective January 1, 2009, we suspended matching contributions on both the 401(k) plan and the deferred compensation plan, discussed below, in light of the current economic conditions. We offer a deferred compensation plan (the “Plan”) to provide certain employees with the opportunity to accumulate assets for retirement on a tax-deferred basis. Participants in the Plan are allowed to defer a portion of their compensation and are 100% vested in their respective deferrals and earnings. Participants may choose from a variety of investment options, which determine their earnings credits. We provided a matching contribution to participants in the Plan of $2.3 million in 2008 and $2.6 million in 2007. We may also make discretionary contributions. Matching contributions vest over two years from the effective date of the employer’s matching contribution, and discretionary contributions vest three years after the effective date of the discretionary contribution. Certain participants in the Plan are not eligible for matching contributions to our 401(k) plan. The balances due to participants in the Plan were $25.1 million as of December 31, 2009, and $22.1 million as of December 31, 2008, and are included in Other Liabilities in the accompanying Consolidated Balance Sheets. These excerpts taken from the AN 10-K filed Feb 17, 2009. Employee
Savings Plan
We offer a 401(k) plan to all of our employees and provided a
matching contribution to certain employees that participated of
$4.5 million in 2008, $5.1 million in 2007, and
$5.3 million in 2006.
In 2005, we established a deferred compensation plan (the
“Plan”) to provide certain employees with the
opportunity to accumulate assets for retirement on a
tax-deferred basis commencing in 2006. Participants in the Plan
are allowed to defer a portion of their compensation and are
100% vested in their respective deferrals and earnings.
Participants may choose from a variety of investment options,
which determine their earnings credits. We provided a matching
contribution to participants in the Plan of $2.3 million in
2008, $2.6 million
AUTONATION,
INC.
NOTES TO
CONSOLIDATED FINANCIAL
STATEMENTS — (Continued)
in 2007, and $2.5 million in 2006. We may also make
discretionary contributions. Matching contributions vest over
two years from the effective date of the employer’s
matching contribution, and discretionary contributions vest
three years after the effective date of the discretionary
contribution. Certain participants in the Plan are not eligible
for matching contributions to our 401(k) plan. The balances due
to participants in the Plan were $22.1 million as of
December 31, 2008, and $23.2 million as of
December 31, 2007, and are included in Other Liabilities in
the accompanying Consolidated Balance Sheets.
Effective January 1, 2009, we suspended matching
contributions on both the 401(k) plan and the deferred
compensation plan in light of the current economic conditions.
Employee Savings Plan We offer a 401(k) plan to all of our employees and provided a matching contribution to certain employees that participated of $4.5 million in 2008, $5.1 million in 2007, and $5.3 million in 2006. In 2005, we established a deferred compensation plan (the “Plan”) to provide certain employees with the opportunity to accumulate assets for retirement on a tax-deferred basis commencing in 2006. Participants in the Plan are allowed to defer a portion of their compensation and are 100% vested in their respective deferrals and earnings. Participants may choose from a variety of investment options, which determine their earnings credits. We provided a matching contribution to participants in the Plan of $2.3 million in 2008, $2.6 million
AUTONATION, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued) in 2007, and $2.5 million in 2006. We may also make discretionary contributions. Matching contributions vest over two years from the effective date of the employer’s matching contribution, and discretionary contributions vest three years after the effective date of the discretionary contribution. Certain participants in the Plan are not eligible for matching contributions to our 401(k) plan. The balances due to participants in the Plan were $22.1 million as of December 31, 2008, and $23.2 million as of December 31, 2007, and are included in Other Liabilities in the accompanying Consolidated Balance Sheets. Effective January 1, 2009, we suspended matching contributions on both the 401(k) plan and the deferred compensation plan in light of the current economic conditions. These excerpts taken from the AN 10-K filed Feb 28, 2008. Employee
Savings Plan
We offer a 401(k) plan to all of our employees and provide a
matching contribution to certain employees that participate. The
matching contribution expensed totaled $5.1 million in
2007, $5.3 million in 2006, and $5.8 million in 2005.
In 2005, we established a deferred compensation plan (the
“Plan”) to provide certain employees with the
opportunity to accumulate assets for retirement on a
tax-deferred basis commencing in 2006. Participants in the Plan
are allowed to defer a portion of their compensation and are
100% vested in their respective deferrals
Table of Contents
AUTONATION,
INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS —
(Continued)
and earnings. Participants may choose from a variety of
investment options, which determine their earnings credits. We
provide a matching contribution to participants in the Plan and
may also make discretionary contributions. The total
contributions expensed totaled $2.6 million in 2007 and
$2.5 million in 2006. Matching contributions vest over two
years from the effective date of the employer’s matching
contribution, and discretionary contributions vest three years
after the effective date of the discretionary contribution.
Certain participants in the Plan are not eligible for matching
contributions to our 401(k) plan. The balances due to
participants in the Plan were $23.2 million as of
December 31, 2007, and $10.2 million as of
December 31, 2006, and are included in Other Liabilities in
the accompanying Consolidated Balance Sheets.
Employee Savings Plan We offer a 401(k) plan to all of our employees and provide a matching contribution to certain employees that participate. The matching contribution expensed totaled $5.1 million in 2007, $5.3 million in 2006, and $5.8 million in 2005. In 2005, we established a deferred compensation plan (the “Plan”) to provide certain employees with the opportunity to accumulate assets for retirement on a tax-deferred basis commencing in 2006. Participants in the Plan are allowed to defer a portion of their compensation and are 100% vested in their respective deferrals
Table of ContentsAUTONATION, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued) and earnings. Participants may choose from a variety of investment options, which determine their earnings credits. We provide a matching contribution to participants in the Plan and may also make discretionary contributions. The total contributions expensed totaled $2.6 million in 2007 and $2.5 million in 2006. Matching contributions vest over two years from the effective date of the employer’s matching contribution, and discretionary contributions vest three years after the effective date of the discretionary contribution. Certain participants in the Plan are not eligible for matching contributions to our 401(k) plan. The balances due to participants in the Plan were $23.2 million as of December 31, 2007, and $10.2 million as of December 31, 2006, and are included in Other Liabilities in the accompanying Consolidated Balance Sheets. This excerpt taken from the AN 10-K filed Feb 28, 2007. Employee
Savings Plan
The Company offers a 401(k) plan to all of its employees and
provides a matching contribution to certain employees that
participate. The matching contribution expensed by the Company
totaled $5.3 million, $5.8 million and
$11.0 million in 2006, 2005 and 2004, respectively.
In 2005, the Company established a deferred compensation plan
(the “Plan”) to provide certain employees with the
opportunity to accumulate assets for retirement on a
tax-deferred basis commencing in 2006. Participants in the Plan
are allowed to defer a portion of their compensation and are
100% vested in their respective deferrals and earnings.
Participants may choose from a variety of investment options,
which determine their earnings credits. The Company provides a
matching contribution to participants in the Plan and may also
make discretionary contributions. The total contributions
expensed by the Company totaled $3.3 million in 2006.
Matching contributions vest over two years from the effective
date of the employer’s matching contribution and
discretionary contributions vest three years after the effective
date of the discretionary contribution. Certain participants in
the Plan are not eligible for matching contributions to the
Company’s 401(k) plan. The balances due to participants in
the Plan were $10.2 million as of December 31, 2006,
and are included in Other Liabilities in the accompanying
Consolidated Balance Sheet.
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