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Credit Facilities and Long-term Debt (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

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

			December 31,
($ in millions)			2024						2023
Floor plan notes payable: non-trade			$	2,848.0					$	2,288.5
Floor plan notes payable			2,055.1						1,347.0
Total floor plan debt			$	4,903.1					$	3,635.5

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

									December 31,
($ in millions)			Maturity Dates						2024						2023
Long-term debt:
Used and service loaner vehicle inventory financing commitments			Various dates through Feb 2029						$	975.3					$	902.8
Revolving lines of credit			Various dates through Feb 2029						1,633.2						1,620.7
Warehouse facilities			Various dates through Nov 2026						834.0						587.0
Non-recourse notes payable			Various dates through Feb 2032						2,109.3						1,705.6
4.625% Senior notes due 2027			Dec 2027						400.0						400.0
4.375% Senior notes due 2031			Jan 2031						550.0						550.0
3.875% Senior notes due 2029			Jun 2029						800.0						800.0
Real estate mortgages, finance lease obligations, and other debt			Various dates through Jul 2038						1,085.9						730.7
Total long-term debt									8,387.7						7,296.8
Less: unamortized debt issuance costs									(25.1)						(31.8)
Less: current maturities (net of current debt issuance costs)									(192.1)						(109.6)
Long-term debt, net									$	8,170.5					$	7,155.4

Schedule of Line of Credit Facilities

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

Commitment			Annual Interest Rate at December 31, 2024
New vehicle floor plan			5.69%
Used vehicle floor plan			5.99%
Service loaner floor plan			5.79%
Revolving line of credit			5.84%

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

Commitment			Annual Interest Rate at December 31, 2024
Wholesale flooring facility			4.62%
Used vehicle flooring facility			4.87%
Daily rental facility			4.82%
Wholesale leasing facility			4.92%
Working capital revolving facility			4.87%

Schedule of Long-term Debt Instruments

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

($ in millions)

Balance as of December 31, 2024

Initial Principal Amount

Issuance Date

Interest Rate Range

Final Distribution Date

LAD Auto Receivables Trust 2021-1 Class A-D

$

44.8

$

344.4

11/24/21

1.94% to 3.99%

Various dates through Nov 2029

LAD Auto Receivables Trust 2022-1 Class A-C

80.9

298.1

08/17/22

5.21% to 6.85%

Various dates through Apr 2030

LAD Auto Receivables Trust 2023-1 Class A-D

178.3

479.7

02/14/23

5.48% to 7.30%

Various dates through Jun 2030

LAD Auto Receivables Trust 2023-2 Class A-D

245.2

556.7

05/24/23

5.42% to 6.30%

Various dates through Feb 2031

LAD Auto Receivables Trust 2023-3 Class A-D

220.7

415.4

08/23/23

5.95% to 6.92%

Various dates through Dec 2030

LAD Auto Receivables Trust 2023-4 Class A-D

247.5

421.2

11/15/23

6.10% to 7.37%

Various dates through Apr 2031

LAD Auto Receivables Trust 2024-1 Class A-D

219.9

329.4

02/14/24

5.17% to 6.15%

Various dates through Jun 2031

LAD Auto Receivables Trust 2024-2 Class A-D

320.0

409.6

06/20/24

5.46% to 6.37%

Various dates through Oct 2031

LAD Auto Receivables Trust 2024-3 Class A-D

552.0

614.9

11/15/24

4.52% to 5.18%

Various dates through Feb 2032

Total non-recourse notes payable

$

2,109.3

$

3,869.4

Below is a summary of outstanding senior notes issued:

($ in millions)

Principal Amount

Earliest Redemption Date

% Currently Redeemable

Current Redemption Price

Maturity Date

Interest Payment Dates

4.625% Senior notes due 2027

$400.0

12/15/22

100%

101.156%

12/15/27

Jun 15, Dec 15

3.875% Senior notes due 2029

800.0

06/01/24

100%

101.938%

06/01/29

Jun 1, Dec 1

4.375% Senior notes due 2031

550.0

10/15/25

40%

104.375%

01/15/31

Jan 15, Jul 15

Total senior notes

$1,750.0

Schedule of Maturities of Long-term Debt

The schedule of future principal payments associated with real estate mortgages, finance lease liabilities, our senior notes, and other debt as of December 31, 2024 was as follows:

Year Ending December 31,			($ in millions)
2025			$	140.7
2026			69.5
2027			516.6
2028			125.3
2029			886.1
Thereafter			1,097.7
Total principal payments			$	2,835.9

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