XML 18 R7.htm IDEA: XBRL DOCUMENT v3.5.0.2
Unaudited Condensed Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES:    
Net income $ 207.9 $ 226.6
Adjustments to reconcile net income to net cash provided by operating activities:    
Loss from discontinued operations 0.4 0.3
Depreciation and amortization 70.7 60.8
Amortization of debt issuance costs and accretion of debt discounts 2.7 2.2
Stock-based compensation expense 19.4 17.4
Deferred income tax provision 10.9 8.1
Net gain related to business/property dispositions (18.3) (7.1)
Non-cash impairment charges 7.8 2.5
Excess tax benefit from stock-based awards (0.6) (11.7)
Other (0.5) (1.8)
(Increase) decrease, net of effects from business combinations and divestitures:    
Receivables 111.4 46.5
Inventory 62.3 (296.7)
Other assets (41.9) (16.2)
Increase (decrease), net of effects from business combinations and divestitures:    
Vehicle floorplan payable - trade, net (180.8) 205.1
Accounts payable (19.7) 0.2
Other liabilities (3.0) 6.6
Net cash provided by continuing operations 228.7 242.8
Net cash used in discontinued operations (0.5) (0.5)
Net cash provided by operating activities 228.2 242.3
CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES:    
Purchases of property and equipment (118.1) (135.2)
Property operating lease buy-outs (5.0) 0.0
Proceeds from the sale of property and equipment 7.2 0.3
Proceeds from assets held for sale 0.0 8.7
Cash received from business divestitures, net of cash relinquished 50.0 15.7
Cash used in business acquisitions, net of cash acquired (262.9) (73.1)
Net change in restricted cash 3.2 (2.6)
Other (0.3) (3.8)
Net cash used in continuing operations (325.9) (190.0)
Net cash used in discontinued operations 0.0 0.0
Net cash used in investing activities (325.9) (190.0)
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES:    
Repurchases of common stock (422.3) (61.3)
Proceeds from revolving credit facility 760.0 1,080.0
Payments of revolving credit facility (760.0) (1,390.0)
Net proceeds from commercial paper 358.6 298.5
Net proceeds from (payments of) vehicle floorplan payable - non-trade 144.8 (10.2)
Payments of mortgage facility (5.1) (4.8)
Payments of capital leases and other debt obligations (1.5) (5.1)
Proceeds from the exercise of stock options 3.2 18.8
Excess tax benefit from stock-based awards 0.6 11.7
Net cash provided by (used in) continuing operations 78.3 (62.4)
Net cash used in discontinued operations 0.0 0.0
Net cash provided by (used in) financing activities 78.3 (62.4)
DECREASE IN CASH AND CASH EQUIVALENTS (19.4) (10.1)
CASH AND CASH EQUIVALENTS at beginning of period 74.1 75.4
CASH AND CASH EQUIVALENTS at end of period $ 54.7 $ 65.3