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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Sep. 30, 2024
Dec. 31, 2023
CURRENT ASSETS:    
Cash and cash equivalents $ 58.7 $ 57.2
Contracts-in-transit and vehicle receivables, net 332.9 369.2
Accounts and notes receivable, net 305.9 238.4
Inventories 2,752.2 1,963.4
Prepaid expenses 59.6 38.9
Other current assets 49.0 25.1
Current assets classified as held for sale 67.5 99.1
TOTAL CURRENT ASSETS 3,625.7 2,791.3
Property and equipment, net of accumulated depreciation of $648.2 and $587.7, respectively 2,881.6 2,248.7
Operating lease assets 302.9 216.5
Goodwill 2,140.7 1,651.9
Intangible franchise rights 865.4 701.2
Other long-term assets 160.2 164.6
TOTAL ASSETS 9,976.5 7,774.1 CloseClose
CURRENT LIABILITIES:     Close
Floorplan notes payable — credit facility and other, net of offset account of $99.8 and $236.7, respectively 1,443.4 1,153.0 Close
Floorplan notes payable — manufacturer affiliates, net of offset account of $— and $38.5, respectively 826.1 412.4 Close
Current maturities of long-term debt 196.0 109.4 Close
Current operating lease liabilities 25.3 20.9 Close
Accounts payable 737.0 499.3 Close
Accrued expenses and other current liabilities 380.6 303.4 Close
Current liabilities classified as held for sale 15.5 7.2 Close
TOTAL CURRENT LIABILITIES 3,623.9 2,505.7
Long-term debt 2,695.1 1,989.4 Close
Long-term operating lease liabilities 284.9 209.4 Close
Deferred income taxes 256.1 256.6 Close
Other long-term liabilities 140.2 138.6 Close
Commitments and Contingencies (Note 11) Close
STOCKHOLDERS’ EQUITY:    
Total Liabilities 7000.2 5099.6 0 0 0 Close
Common stock, $0.01 par value, 50,000,000 shares authorized; 25,082,140 and 25,131,460 shares issued, respectively 0.3 0.3 Close
Additional paid-in capital 367.0 349.1
Retained earnings 4,033.9 3,649.8
Accumulated other comprehensive income (loss) 45.8 28.1
Treasury stock, at cost; 11,743,353 and 11,447,422 shares, respectively (1,470.8) (1,352.8)
TOTAL STOCKHOLDERS’ EQUITY 2,976.2 2,674.4 CloseClose
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 9,976.5 $ 7,774.1