XML 17 R6.htm IDEA: XBRL DOCUMENT v3.23.3Close
Unaudited Condensed Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES:    
Net income $ 804.9 $ 1,091.0
Adjustments to reconcile net income to net cash provided by operating activities:    
(Income) loss from discontinued operations (0.9) 0.3
Depreciation and amortization 163.1 148.9
Amortization of debt issuance costs and accretion of debt discounts 7.0 4.5
Stock-based compensation expense 31.6 26.3
Provision for credit losses on auto loans receivable 36.0 0.0
Deferred income tax provision 5.1 5.5
Net gain related to business/property dispositions (1.1) (17.1)
(Gain) loss on corporate-owned life insurance asset (4.9) 26.0
Gain on sale of auto loans receivable (8.1) 0.0
Other 6.2 1.1
(Increase) decrease, net of effects from business acquisitions and divestitures:    
Receivables (15.1) 80.3
Auto loans receivable, net (112.7) 0.0
Inventory (563.0) (9.1)
Other assets (108.2) (28.6)
Increase (decrease), net of effects from business acquisitions and divestitures:    
Vehicle floorplan payable - trade 412.0 124.0
Accounts payable 6.4 (52.2)
Other liabilities 104.6 42.7
Net cash provided by continuing operations 762.9 1,443.6
Net cash used in discontinued operations (0.3) (0.3)
Net cash provided by operating activities 762.6 1,443.3 Close
CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES:    
Purchases of property and equipment (286.0) (236.2)
Proceeds from the disposal of assets held for sale 2.5 22.8
Cash received from business divestitures, net of cash relinquished 0.0 55.2
Cash used in business acquisitions, net of cash acquired (271.1) 0.0
Originations of auto loans receivable acquired through third-party dealers (110.9) 0.0
Collections on auto loans receivable acquired through third-party dealers 110.1 0.0
Proceeds from the sale of auto loans receivable 68.7 0.0
Deposits for investment 0.0 (81.6)
Other (10.3) (7.5)
Net cash used in continuing operations (497.0) (247.3)
Net cash used in discontinued operations 0.0 0.0
Net cash used in investing activities (497.0) (247.3) Close
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES:    
Repurchases of common stock (723.2) (1,177.4)
Proceeds from 3.85% Senior Notes due 2032 0.0 698.8
Net proceeds from (payments of) commercial paper 300.0 (340.0)
Proceeds from non-recourse debt 151.6 0.0
Payments of non-recourse debt (232.1) 0.0
Payment of debt issuance costs (6.6) (6.6)
Net proceeds from vehicle floorplan payable - non-trade 260.4 46.4
Payments of other debt obligations (9.4) (8.7)
Proceeds from the exercise of stock options 1.9 3.4
Payments of tax withholdings for stock-based awards (25.2) (29.5)
Net cash used in continuing operations (282.6) (813.6)
Net cash used in discontinued operations 0.0 0.0
Net cash used in financing activities (282.6) (813.6) Close
INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (17.0) 382.4 Close
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH at beginning of period 95.4 60.6
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH at end of period $ 78.4 $ 443.0