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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net income $ 203.5 $ 205.8
Adjustments to reconcile net income to net cash provided by operating activities:    
Asset impairments 0.5 0.0
Depreciation and amortization 60.9 55.3
Stock-based compensation 11.8 9.8
Gain on disposal of other assets 0.0 (0.1)
Gain on disposal of franchise (9.1) (15.4)
Deferred income taxes 39.5 19.5
(Increase) decrease (net of acquisitions and dispositions):    
Accounts receivable, net 69.7 63.4
Inventories (4.1) (14.5)
Other assets 22.3 12.0
Increase (decrease) (net of acquisitions and dispositions):    
Floor plan notes payable 83.1 8.1
Trade payables 0.1 3.6
Accrued liabilities (36.5) 8.6
Other long-term liabilities and deferred revenue 11.8 23.1
Net cash provided by operating activities 453.5 379.2
Cash flows from investing activities:    
Capital expenditures (91.9) (113.4)
Proceeds from sales of assets 0.8 2.0
Cash paid for other investments (6.7) (62.1)
Cash paid for acquisitions, net of cash acquired (142.8) (374.0)
Proceeds from sales of stores 40.9 32.9
Net cash used in investing activities (199.7) (514.6)
Cash flows from financing activities:    
(Repayments) borrowings on floor plan notes payable, net: non-trade (114.0) 61.7
Borrowings on lines of credit 2,147.0 1,964.5
Repayments on lines of credit (2,209.6) (1,860.2)
Principal payments on long-term debt and capital leases, scheduled (18.0) (16.9)
Principal payments on long-term debt and capital leases, other (11.0) (5.3)
Proceeds from issuance of long-term debt 0.0 62.1
Payments of debt issuance costs (0.4) (0.4)
Proceeds from issuance of common stock 8.0 7.4
Repurchase of common stock (3.1) (81.6)
Dividends paid (20.7) (21.0)
Payments of contingent consideration related to acquisitions 0.0 (0.8)
Other financing activity (36.5) 0.0
Net cash (used in) provided by financing activities (258.3) 109.5
Decrease in cash and cash equivalents (4.5) (25.9)
Cash and cash equivalents at beginning of period 31.6 57.3
Cash and cash equivalents at end of period 27.1 31.4
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest 107.6 88.9
Cash paid during the period for income taxes, net 13.8 2.9
Floor plan debt paid in connection with store disposals 12.3 33.1
Supplemental schedule of non-cash activities:    
Debt issued in connection with acquisitions 26.4 125.1
Debt assumed in connection with acquisitions 0.0 $ 10.8
ROU assets obtained in exchange for lease liabilities [1] $ 260.3  
[1] Amounts for the nine months ended September 30, 2019 include the transition adjustment for the adoption of Topic 842.