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DEBT (Tables)

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Schedule of Line of Credit Facilities

The annual interest rates associated with our floor plan commitments are as follows:

Commitment			Annual Interest Rate at June 30, 2024
New vehicle floor plan			6.53%
Used vehicle floor plan			6.83%
Service loaner floor plan			6.63%
Revolving line of credit			6.43%

The annual interest rates associated with our floor plan commitments are as follows:

Commitment			Annual Interest Rate at June 30, 2024
Wholesale flooring facility			5.80%
Used vehicle flooring facility			6.05%
Daily rental facility			6.00%
Wholesale leasing facility			6.10%
Working capital revolving facility			6.05%

Schedule of Long-Term Debt Instruments

Below is a summary of outstanding non-recourse notes payable issued:

($ in millions)

Balance as of June 30, 2024

Initial Principal Amount

Issuance Date

Interest Rate Range

Final Distribution Date

LAD Auto Receivables Trust 2021-1 Class A-D

$

68.8

$

344.4

11/24/21

1.30% to 3.99%

Various dates through Nov 2029

LAD Auto Receivables Trust 2022-1 Class A-C

112.9

298.1

08/17/22

5.21% to 6.85%

Various dates through Apr 2030

LAD Auto Receivables Trust 2023-1 Class A-D

241.0

479.7

02/14/23

5.48% to 7.30%

Various dates through Jun 2030

LAD Auto Receivables Trust 2023-2 Class A-D

320.9

556.7

05/24/23

5.42% to 6.30%

Various dates through Feb 2031

LAD Auto Receivables Trust 2023-3 Class A-D

281.8

415.4

08/23/23

5.95% to 6.92%

Various dates through Dec 2030

LAD Auto Receivables Trust 2023-4 Class A-D

314.3

421.2

11/15/23

6.10% to 7.37%

Various dates through Apr 2031

LAD Auto Receivables Trust 2024-1 Class A-D

276.5

329.4

02/14/24

5.17% to 6.15%

Various dates through Jun 2031

LAD Auto Receivables Trust 2024-2 Class A-D

409.6

$

409.6

06/20/24

5.46% to 6.37%

Various dates through Oct 2031

Total non-recourse notes payable

$

2,025.8

$

3,254.5

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Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line.

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