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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Dec. 31, 2018
Cash flows from operating activities:      
Net income $ 56.4 $ 52.1 $ 265.7
Adjustments to reconcile net income to net cash provided by operating activities:      
Asset impairments 0.5 0.0  
Depreciation and amortization 19.8 16.8  
Stock-based compensation 3.5 3.6  
Gain on disposal of franchise 0.1 0.0  
Deferred income taxes 5.2 2.7  
(Increase) decrease (net of acquisitions and dispositions):      
Accounts receivable, net 49.9 42.6  
Inventories (81.4) (98.9)  
Other assets 9.0 14.7  
Increase (decrease) (net of acquisitions and dispositions):      
Floor plan notes payable 34.6 17.7  
Trade payables (6.4) 6.9  
Accrued liabilities (14.5) (13.6)  
Other long-term liabilities and deferred revenue 0.5 4.3  
Net cash provided by operating activities 77.2 48.9  
Cash flows from investing activities:      
Capital expenditures (29.1) (42.0)  
Proceeds from sales of assets 0.4 0.1  
Cash paid for other investments (6.6) (7.6)  
Cash paid for acquisitions, net of cash acquired 0.0 (324.4)  
Proceeds from sales of stores 0.0 0.4  
Net cash used in investing activities (35.3) (373.5)  
Cash flows from financing activities:      
Borrowings on floor plan notes payable, net: non-trade 43.5 47.8  
Borrowings on lines of credit 570.0 894.0  
Repayments on lines of credit (625.0) (586.7)  
Principal payments on long-term debt and capital leases, scheduled (6.2) (4.7)  
Principal payments on long-term debt and capital leases, other (3.3) 0.0  
Payments of debt issuance costs 0.0 0.0  
Proceeds from issuance of common stock 2.3 1.9  
Repurchase of common stock (3.1) (8.3)  
Dividends paid (6.7) (6.8)  
Payments of contingent consideration related to acquisitions 0.0 (0.8)  
Net cash (used in) provided by financing activities (28.5) 336.4  
Increase in cash and cash equivalents 13.4 11.8  
Cash and cash equivalents at beginning of period 31.6 57.2 57.2
Cash and cash equivalents at end of period 45.0 69.0 $ 31.6
Supplemental disclosure of cash flow information:      
Cash paid during the period for interest 37.9 30.3  
Cash paid during the period for income taxes, net 0.2 1.2  
Floor plan debt paid in connection with store disposals 4.8 3.8  
Supplemental schedule of non-cash activities:      
Debt assumed in connection with acquisitions 0.0 10.7  
ROU assets obtained in exchange for lease liabilities 1 [1] $ 257.0 $ 0.0  
[1] Amounts for the three months ended March 31, 2019 include the transition adjustment for the adoption of Topic 842.