XML 13 R2.htm IDEA: XBRL DOCUMENT v3.23.3
Unaudited Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
ASSETS    
Cash and cash equivalents $ 64.0 $ 72.6
Receivables, net 877.3 858.8
Inventory 2,645.6 2,048.3
Other current assets 186.2 158.3
Total Current Assets 3,773.1 3,138.0
AUTO LOANS RECEIVABLE, net of allowance for credit losses of $47.9 million and $57.5 million, respectively 320.0 303.1
PROPERTY AND EQUIPMENT, net of accumulated depreciation of $2.1 billion and $1.9 billion, respectively 3,723.5 3,607.2
OPERATING LEASE ASSETS 371.0 323.5
GOODWILL 1,455.7 [1] 1,320.1
OTHER INTANGIBLE ASSETS, NET 931.8 837.0
OTHER ASSETS 665.9 530.8
Total Assets 11,241.0 10,059.7
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Vehicle floorplan payable 2,814.8 2,109.3
Accounts payable 341.6 327.6
Commercial paper 350.0 50.0
Current maturities of long-term debt 12.8 12.6
Current portion of non-recourse debt 7.2 10.7
Accrued payroll and benefits 282.7 238.0
Other current liabilities 722.7 657.5
Total Current Liabilities 4,531.8 3,405.7
LONG-TERM DEBT, NET OF CURRENT MATURITIES 3,579.6 3,586.9
NON-RECOURSE DEBT, NET OF CURRENT PORTION 238.9 312.9
NONCURRENT OPERATING LEASE LIABILITIES 339.3 296.9
DEFERRED INCOME TAXES 60.4 76.5
OTHER LIABILITIES 349.0 333.0
COMMITMENTS AND CONTINGENCIES (Note 14)
SHAREHOLDERS’ EQUITY:    
Common stock, par value $0.01 per share; 1,500,000,000 shares authorized; 63,562,149 shares issued at September 30, 2023, and December 31, 2022, including shares held in treasury 0.6 0.6
Additional paid-in capital 18.6 3.1
Retained earnings 4,426.8 3,663.7
Treasury stock, at cost; 20,790,347 and 15,915,358 shares held, respectively (2,304.0) (1,619.6)
Total Shareholders’ Equity 2,142.0 2,047.8
Total Liabilities and Shareholders’ Equity 11,241.0 10,059.7
Trade    
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Vehicle floorplan payable 1,358.7 946.6
Non-Trade    
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Vehicle floorplan payable $ 1,456.1 $ 1,162.7
[1] (1) The change in goodwill from the prior period is primarily due to the acquisition of the mobile repair and maintenance business we acquired in January 2023. Such goodwill is reflected in our Mobile Service reporting unit.