XML 13 R2.htm IDEA: XBRL DOCUMENT v3.23.3Close
Unaudited Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
ASSETS    
Cash and cash equivalents $ 64.0 $ 72.6
Receivables, net 877.3 858.8
Inventory 2,645.6 2,048.3
Other current assets 186.2 158.3
Total Current Assets 3,773.1 3,138.0
AUTO LOANS RECEIVABLE, net of allowance for credit losses of $47.9 million and $57.5 million, respectively 320.0 303.1
PROPERTY AND EQUIPMENT, net of accumulated depreciation of $2.1 billion and $1.9 billion, respectively 3,723.5 3,607.2
OPERATING LEASE ASSETS 371.0 323.5
GOODWILL 1,455.7 [1] 1,320.1
OTHER INTANGIBLE ASSETS, NET 931.8 837.0
OTHER ASSETS 665.9 530.8
Total Assets 11,241.0 10,059.7 Close
LIABILITIES AND SHAREHOLDERS’ EQUITY     Close
Vehicle floorplan payable 2,814.8 2,109.3 Close
Accounts payable 341.6 327.6 Close
Commercial paper 350.0 50.0 Close
Current maturities of long-term debt 12.8 12.6 Close
Current portion of non-recourse debt 7.2 10.7 Close
Accrued payroll and benefits 282.7 238.0 Close
Other current liabilities 722.7 657.5 Close
Total Current Liabilities 4,531.8 3,405.7
LONG-TERM DEBT, NET OF CURRENT MATURITIES 3,579.6 3,586.9 Close
NON-RECOURSE DEBT, NET OF CURRENT PORTION 238.9 312.9 Close
NONCURRENT OPERATING LEASE LIABILITIES 339.3 296.9 Close
DEFERRED INCOME TAXES 60.4 76.5 Close
OTHER LIABILITIES 349.0 333.0 Close
COMMITMENTS AND CONTINGENCIES (Note 14) Close
SHAREHOLDERS’ EQUITY:    
Total Liabilities 9099.0 0.0 8011.9 0 0 Close
Common stock, par value $0.01 per share; 1,500,000,000 shares authorized; 63,562,149 shares issued at September 30, 2023, and December 31, 2022, including shares held in treasury 0.6 0.6 Close
Additional paid-in capital 18.6 3.1
Retained earnings 4,426.8 3,663.7
Treasury stock, at cost; 20,790,347 and 15,915,358 shares held, respectively (2,304.0) (1,619.6)
Total Shareholders’ Equity 2,142.0 2,047.8 Close
Total Liabilities and Shareholders’ Equity 11,241.0 10,059.7
Trade    
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Vehicle floorplan payable 1,358.7 946.6
Non-Trade    
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Vehicle floorplan payable $ 1,456.1 $ 1,162.7
[1] (1) The change in goodwill from the prior period is primarily due to the acquisition of the mobile repair and maintenance business we acquired in January 2023. Such goodwill is reflected in our Mobile Service reporting unit.