Credit Facilities and Long-term Debt (Tables)

12 Months Ended

Dec. 31, 2018

Summary of Outstanding Balances on Credit Facilities and Long-term Debt

Below is a summary of our outstanding balances on credit facilities and long-term debt (in millions):



December 31,	2018			2017
Floor plan notes payable: non-trade	$	1,733.3		$	1,802.3
Floor plan notes payable	324.4			116.8
Total floor plan debt	$	2,057.7		$	1,919.1

Used vehicle inventory financing facility	$	332.0		$	177.2
Revolving lines of credit	131.6			94.6
Real estate mortgages	592.3			470.0
5.25% Senior notes due 2025	300.0			300.0
Other debt	34.2			12.5
Total long-term debt outstanding	1,390.1			1,054.3
Less: unamortized debt issuance costs	(6.0		)	(6.9		)
Less: current maturities (net of current debt issuance costs)	(25.9		)	(18.9		)
Long-term debt	$	1,358.2		$	1,028.5

Schedule of Debt Covenant Terms

Under our credit facility, we are required to maintain the ratios detailed in the following table:



Debt Covenant Ratio	Requirement	As of December 31, 2018
Current ratio	Not less than 1.10 to 1	1.27 to 1
Fixed charge coverage ratio	Not less than 1.20 to 1	1.91 to 1
Leverage ratio	Not more than 5.00 to 1	2.86 to 1

Schedule of Maturities of Long-term Debt

The schedule of future principal payments associated with real estate mortgages, our 5.25% Senior Notes and other debt as of December 31, 2018 was as follows (in millions):



Year Ending December 31,
2019	$	26.2
2020	47.3
2021	50.4
2022	68.9
2023	57.6
Thereafter	676.1
Total principal payments	$	926.5