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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
CURRENT ASSETS:    
Cash and cash equivalents $ 64.4 $ 57.2
Contracts-in-transit and vehicle receivables, net 349.9 369.2
Accounts and notes receivable, net 259.5 238.4
Inventories 2,356.8 1,963.4
Prepaid expenses 31.1 38.9
Other current assets 101.9 25.1
Current assets classified as held for sale 7.1 99.1
TOTAL CURRENT ASSETS 3,170.7 2,791.3
Property and equipment, net of accumulated depreciation of $623.2 and $587.7, respectively 2,492.3 2,248.7
Operating lease assets 226.6 216.5
Goodwill 1,915.7 1,651.9
Intangible franchise rights 872.3 701.2
Other long-term assets 172.6 164.6
TOTAL ASSETS 8,850.3 7,774.1 CloseClose
CURRENT LIABILITIES:     Close
Floorplan notes payable — credit facility and other, net of offset account of $79.4 and $236.7, respectively 1,386.6 1,153.0 Close
Floorplan notes payable — manufacturer affiliates, net of offset account of $14.8 and $38.5, respectively 713.3 412.4 Close
Current maturities of long-term debt 170.6 109.4 Close
Current operating lease liabilities 20.3 20.9 Close
Accounts payable 490.6 499.3 Close
Accrued expenses and other current liabilities 316.2 303.4 Close
Current liabilities classified as held for sale 0.0 7.2 Close
TOTAL CURRENT LIABILITIES 3,097.7 2,505.7
Long-term debt 2,279.3 1,989.4 Close
Long-term operating lease liabilities 214.3 209.4 Close
Deferred income taxes 256.7 256.6 Close
Other long-term liabilities 136.1 138.6 Close
Commitments and Contingencies (Note 11) Close
STOCKHOLDERS’ EQUITY:    
Total Liabilities 5984.0 5099.6 0 0 0 Close
Common stock, $0.01 par value, 50,000,000 shares authorized; 25,092,785 and 25,131,460 shares issued, respectively 0.3 0.3 Close
Additional paid-in capital 359.7 349.1
Retained earnings 3,923.0 3,649.8
Accumulated other comprehensive income (loss) 27.0 28.1
Treasury stock, at cost; 11,687,438 and 11,447,422 shares, respectively (1,443.7) (1,352.8)
TOTAL STOCKHOLDERS’ EQUITY 2,866.3 2,674.4 CloseClose
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 8,850.3 $ 7,774.1