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Leases Leases (Tables)

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Lease Assets and Lease Liabilities

Leases		Classification		March 31, 2019
Assets
Operating		Operating Lease Assets		$	343.4
Finance		Property and Equipment, Net and Other Assets		101.4
Total right-of-use assets				$	444.8
Liabilities
Current
Operating		Other Current Liabilities		$	41.1
Finance		Current Maturities of Long-Term Debt and Vehicle Floorplan Payable - Trade		66.4
Noncurrent
Operating		Noncurrent Operating Lease Liabilities		315.0
Finance		Long-Term Debt, Net of Current Maturities		86.6
Total lease liabilities				$	509.1

Net Lease Cost

				Three Months Ended
Lease cost		Classification		March 31, 2019
Operating lease cost		Selling, general, and administrative expenses		$	15.2
Finance lease cost:
Amortization of ROU assets		Depreciation and amortization		2.7
Interest on lease liabilities		Other interest expense and floorplan interest expense		2.2
Short-term lease cost (1)		Selling, general, and administrative expenses		3.3
Variable lease cost		Selling, general, and administrative expenses		1.3
Sublease income		Selling, general, and administrative expenses		(0.4		)
Net lease cost				$	24.3
(1) Includes leases with a term of one month or less.

Lease Term and Discount Rate		March 31, 2019
Weighted average remaining lease term
Operating		11 years
Finance		10 years
Weighted-average discount rate
Operating		5.29	%
Finance		8.27	%

Cash Flow Information, Lessee

		Three Months Ended
Other Information		March 31, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases		$	15.7
Operating cash flows from finance leases (1)		$	13.7
Financing cash flows from finance leases		$	2.1
Right-of-use assets obtained in exchange for new:
Operating lease liabilities		$	9.1
Finance lease liabilities		$	11.8
(1) Includes the interest component of payments made on finance leases as well as principal payments on vehicle floorplan payables with trade lenders for certain service loaner vehicle leases.

Maturity of Lease Liabilities

Maturity of Lease Liabilities		Operating Leases				Finance Leases
Twelve months ending March 31,
2020		$	57.8			$	74.4
2021		51.8				10.6
2022		47.5				10.5
2023		42.0				10.4
2024		36.3				10.5
Thereafter		250.1				105.2
Total lease payments		485.5				221.6
Less: interest		(129.4		)		(68.6		)
Present value of lease liabilities		$	356.1			$	153.0

Maturity of Lease Liabilities

Maturity of Lease Liabilities		Operating Leases				Finance Leases
Twelve months ending March 31,
2020		$	57.8			$	74.4
2021		51.8				10.6
2022		47.5				10.5
2023		42.0				10.4
2024		36.3				10.5
Thereafter		250.1				105.2
Total lease payments		485.5				221.6
Less: interest		(129.4		)		(68.6		)
Present value of lease liabilities		$	356.1			$	153.0

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- Definition

Tabular disclosure of cash paid for amounts included in the measurement of lease liabilities, as well as right-of-use assets obtained in exchange for new lease liabilities.

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+ References

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Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980

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Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980

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Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980

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