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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
CURRENT ASSETS:    
Cash and cash equivalents $ 41.9 $ 57.2
Contracts-in-transit and vehicle receivables, net 341.7 369.2
Accounts and notes receivable, net 259.7 238.4
Inventories 2,101.4 1,963.4
Prepaid expenses 21.2 38.9
Other current assets 15.7 25.1
Current assets classified as held for sale 53.2 99.1
TOTAL CURRENT ASSETS 2,834.8 2,791.3
Property and equipment, net of accumulated depreciation of $602.2 and $587.7, respectively 2,493.2 2,248.7
Operating lease assets 217.9 216.5
Goodwill 1,842.0 1,651.9
Intangible franchise rights 946.2 701.2
Other long-term assets 175.9 164.6
TOTAL ASSETS 8,509.9 7,774.1
CURRENT LIABILITIES:    
Floorplan notes payable — credit facility and other, net of offset account of $210.2 and $236.7, respectively 1,044.1 1,153.0
Floorplan notes payable — manufacturer affiliates, net of offset account of $— and $38.5, respectively 585.4 412.4
Current maturities of long-term debt 156.9 109.4
Current operating lease liabilities 20.0 20.9
Accounts payable 588.6 499.3
Accrued expenses and other current liabilities 326.9 303.4
Current liabilities classified as held for sale 0.0 7.2
TOTAL CURRENT LIABILITIES 2,722.0 2,505.7
Long-term debt 2,416.1 1,989.4
Long-term operating lease liabilities 205.5 209.4
Deferred income taxes 259.8 256.6
Other long-term liabilities 134.3 138.6
Commitments and Contingencies (Note 11)
STOCKHOLDERS’ EQUITY:    
Common stock, $0.01 par value, 50,000,000 shares authorized; 25,109,781 and 25,131,460 shares issued, respectively 0.3 0.3
Additional paid-in capital 351.7 349.1
Retained earnings 3,791.3 3,649.8
Accumulated other comprehensive income (loss) 30.3 28.1
Treasury stock, at cost; 11,575,624 and 11,447,422 shares, respectively (1,401.1) (1,352.8)
TOTAL STOCKHOLDERS’ EQUITY 2,772.4 2,674.4
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 8,509.9 $ 7,774.1