XML 57 R39.htm IDEA: XBRL DOCUMENT v3.20.4

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Components of Income Tax Provision From Continuing Operations

The components of the income tax provision from continuing operations for the years ended December 31 are as follows:

			2020						2019						2018
Current:
Federal			$	168.9					$	86.0					$	93.0
State			37.4						29.4						26.8
Federal and state deferred			(39.0)						45.8						10.9
Change in valuation allowance, net			0.3						0.2						3.5
Adjustments and settlements			0.7						0.4						(0.7)
Income tax provision			$	168.3					$	161.8					$	133.5

Reconciliation of Income Tax Provision

A reconciliation of the income tax provision calculated using the statutory federal income tax rate to our income tax provision from continuing operations for the years ended December 31 is as follows:

			2020						%						2019						%						2018						%
Income tax provision at statutory rate			$	115.5					21.0						$	128.7					21.0						$	111.2					21.0
Impact of goodwill impairment			21.4						3.9						—						—						—						—
Other non-deductible expenses, net			8.2						1.5						10.3						1.7						4.9						0.9
State income taxes, net of federal benefit			24.3						4.4						25.7						4.2						22.8						4.3
			169.4						30.8						164.7						26.9						138.9						26.2
Change in tax rate			—						—						—						—						(5.0)						(0.9)
Change in valuation allowance, net			0.3						0.1						0.2						—						3.5						0.7
Adjustments and settlements			0.7						0.1						0.4						0.1						(0.7)						(0.1)
Federal and state tax credits			(0.7)						(0.1)						(0.9)						(0.2)						(1.0)						(0.2)
Other, net			(1.4)						(0.3)						(2.6)						(0.4)						(2.2)						(0.5)
Income tax provision			$	168.3					30.6						$	161.8					26.4						$	133.5					25.2

Deferred Income Tax Asset and Liability Components

Deferred income tax asset and liability components at December 31 are as follows:

			2020						2019
Deferred income tax assets:
Inventory			$	20.2					$	25.7
Receivable allowances			1.0						0.2
Warranty, chargeback, and self-insurance liabilities			53.1						50.7
Other accrued liabilities			31.5						27.7
Deferred compensation			24.4						20.9
Stock-based compensation			10.6						14.9
Lease liabilities			80.8						85.4
Loss carryforwards— state			6.8						6.8
Other, net			4.6						4.1
Total deferred income tax assets			233.0						236.4
Valuation allowance			(4.8)						(4.5)
Deferred income tax assets, net of valuation allowance			228.2						231.9
Deferred income tax liabilities:
Long-lived assets (intangible assets and property)			(219.6)						(269.6)
Investments - unrealized appreciation			(19.5)						(6.3)
Right-of-use assets			(75.0)						(80.0)
Other, net			(10.0)						(11.1)
Total deferred income tax liabilities			(324.1)						(367.0)
Net deferred income tax liabilities			$	(95.9)					$	(135.1)

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

			2020						2019						2018
Balance at January 1			$	5.3					$	4.3					$	6.4
Additions based on tax positions related to the current year			0.4						—						—
Additions for tax positions of prior years			1.6						1.4						0.6
Reductions for tax positions of prior years			—						—						—
Reductions for expirations of statute of limitations			(0.3)						(0.4)						(0.9)
Settlements			—						—						(1.8)
Balance at December 31			$	7.0					$	5.3					$	4.3

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in unrecognized tax benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 55
-Paragraph 217
-URI http://asc.fasb.org/extlink&oid=121610041&loc=d3e36027-109320

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15A
-URI http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration