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INVENTORIES AND FLOOR PLAN NOTES PAYABLE | 3 Months Ended
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Mar. 31, 2024
Inventory Disclosure [Abstract] |
INVENTORIES AND FLOOR PLAN NOTES PAYABLE | INVENTORIES AND FLOOR PLAN NOTES PAYABLE The components of inventories, net, consisted of the following:
(in millions) |  | March 31, 2024 |  | December 31, 2023
New vehicles |  | $ | 3,447.5 |  |  | $ | 2,886.3 |
Used vehicles |  | 2,142.8 |  |  | 1,637.5 |
Parts and accessories |  | 271.6 |  |  | 230.1 |
Total inventories |  | $ | 5,861.9 |  |  | $ | 4,753.9 |
The new vehicle inventory cost is generally reduced by manufacturer holdbacks and incentives, while the related floor plan notes payable are reflective of the gross cost of the vehicle.
(in millions) |  | March 31, 2024 |  | December 31, 2023
Floor plan notes payable |  | $ | 2,533.3 |  |  | $ | 1,347.0 |
Floor plan notes payable: non-trade |  | 2,428.7 |  |  | 2,288.5 |
Total floor plan debt |  | $ | 4,962.0 |  |  | $ | 3,635.5 |

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- Definition The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 330 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//330/tableOfContent + Details
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