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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES:      
Net income $ 1,021.1 $ 1,377.4 $ 1,373.0
Adjustments to reconcile net income to net cash provided by operating activities:      
Loss (income) from discontinued operations (0.9) 0.3 0.3
Depreciation and amortization 220.5 200.3 193.3
Amortization of debt issuance costs and accretion of debt discounts 9.6 7.2 4.9
Stock-based compensation expense 39.7 31.5 35.0
Provision for credit losses on auto loans receivable 45.9 43.8 [1] 0.0
Deferred income tax provision (benefit) 20.1 1.3 (17.4)
Net gain related to business/property dispositions (9.1) (16.3) (18.1)
Gain on equity investments (5.2) (2.9) (10.9)
Loss (gain) on corporate-owned life insurance asset (16.4) 19.4 (12.7)
Gain on sale of auto loans receivable (8.1) 0.0 0.0
Other 6.4 1.6 2.6
(Increase) decrease, net of effects from business acquisitions and divestitures:      
Receivables (178.2) (129.2) 114.9
Auto loans receivable, net (229.9) 0.0 0.0
Inventory (950.1) (175.5) 800.4
Other assets (84.2) (58.4) 92.2
Increase (decrease), net of effects from business acquisitions and divestitures:      
Vehicle floorplan payable-trade 813.4 461.1 (1,059.7)
Accounts payable 8.1 (68.9) 57.2
Other liabilities 21.6 (24.3) 73.0
Net cash provided by continuing operations 724.3 1,668.4 1,628.0
Net cash used in discontinued operations (0.3) (0.3) (0.3)
Net cash provided by operating activities 724.0 1,668.1 1,627.7 Close
CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES:      
Purchases of property and equipment (410.3) (329.0) (215.7)
Proceeds from the disposal of assets held for sale 7.9 22.8 37.1
Cash used in business acquisitions, net of cash acquired (271.4) (191.6) (432.7)
Cash received from business divestitures, net of cash relinquished 23.2 55.2 48.7
Originations of auto loans receivable acquired through third-party dealers (110.9) (56.0) 0.0
Collections on auto loans receivable acquired through third-party dealers 135.0 36.4 0.0
Proceeds from the sale of auto loans receivable 68.7 0.0 0.0
Proceeds from the sale of equity securities 1.4 1.8 109.4
Investment in equity securities 0.0 (12.0) (5.5)
Other (13.5) (6.9) (1.6)
Net cash used in continuing operations (569.9) (479.3) (460.3)
Net cash used in discontinued operations 0.0 0.0 0.0
Net cash used in investing activities (569.9) (479.3) (460.3) Close
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES:      
Repurchases of common stock (874.4) (1,699.5) (2,318.2)
Net proceeds from (payments of) commercial paper 390.0 (290.0) 340.0
Proceeds from non-recourse debt 324.0 40.7 0.0
Payments of non-recourse debt (392.7) (35.6) 0.0
Payment of debt issuance costs (6.6) (7.1) (8.0)
Net proceeds from (payments of) vehicle floorplan payable - non-trade 425.3 178.6 (263.9)
Payment of other debt obligations (12.6) (12.0) (10.9)
Proceeds from the exercise of stock options 1.9 3.4 54.5
Payments of tax withholdings for stock-based awards (27.4) (31.3) (18.0)
Net cash used in continuing operations (172.5) (1,154.0) (1,676.5)
Net cash used in discontinued operations 0.0 0.0 0.0
Net cash used in financing activities (172.5) (1,154.0) (1,676.5) Close
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect (18.4) 34.8 (509.1) Close
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH at beginning of year 95.4 60.6 569.7
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH at end of year 77.0 95.4 60.6
Senior Notes at Three Point Eight Five Percent Due 2032 [Member]      
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES:      
Proceeds from Senior Notes 0.0 698.8 0.0
Senior Notes at One Point Nine Five Percent Due 2028 [Member]      
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES:      
Proceeds from Senior Notes 0.0 0.0 399.2
Senior Notes at Two Point Four Percent Due 2031 [Member]      
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES:      
Proceeds from Senior Notes 0.0 0.0 448.8
Senior Notes at Three Point Three Five Percent Due 2021      
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES:      
Payment of Senior Notes $ 0.0 $ 0.0 $ (300.0)
[1]
(1) Reflects activity that occurred after the acquisition of CIG Financial on October 1, 2022. Provision for credit losses includes initial credit loss expense of $34.2 million associated with the auto loan portfolio acquired as part of the acquisition.