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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
CURRENT ASSETS:    
Cash and cash equivalents $ 57.2 $ 47.9
Contracts-in-transit and vehicle receivables, net 369.2 278.5
Accounts and notes receivables, net 238.4 199.2
Inventories 1,963.4 1,356.6
Prepaid expenses 38.9 30.5
Other current assets 25.1 19.1
Current assets classified as held for sale 99.1 53.6
TOTAL CURRENT ASSETS 2,791.3 1,985.3
Property and equipment, net 2,248.7 2,128.2
Operating lease assets 216.5 249.1
Goodwill 1,651.9 1,661.8
Intangible franchise rights 701.2 516.3
Other long-term assets 164.6 176.8
TOTAL ASSETS 7,774.1 6,717.5
CURRENT LIABILITIES:    
Floorplan notes payable — credit facility and other, net of offset account of $236.7 and $140.2, respectively 1,153.0 762.1
Floorplan notes payable — manufacturer affiliates, net of offset account of $38.5 and $13.4, respectively 412.4 243.1
Current maturities of long-term debt 109.4 130.3
Current operating lease liabilities 20.9 21.8
Accounts payable 499.3 488.0
Accrued expenses and other current liabilities 303.4 271.5
Current liabilities classified as held for sale 7.2 4.8
TOTAL CURRENT LIABILITIES 2,505.7 1,921.4
Long-term debt 1,989.4 1,952.2
Long-term operating lease liabilities 209.4 238.4
Deferred income taxes 256.6 238.1
Other long-term liabilities 138.6 129.8
Commitments and Contingencies (Note 17)
STOCKHOLDERS’ EQUITY:    
Preferred stock, $0.01 par value, 1,000,000 shares authorized; none issued or outstanding 0.0 0.0
Common stock, $0.01 par value, 50,000,000 shares authorized; 25,131,460 and 25,232,620 issued, respectively 0.3 0.3
Additional paid-in capital 349.1 338.7
Retained earnings 3,649.8 3,073.6
Accumulated other comprehensive income (loss) 28.1 22.5
Treasury stock, at cost; 11,447,422 and 10,940,298 shares, respectively (1,352.8) (1,197.5)
TOTAL STOCKHOLDERS’ EQUITY 2,674.4 2,237.5
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 7,774.1 $ 6,717.5