XML 43 R2.htm IDEA: XBRL DOCUMENT v3.19.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2019
Dec. 31, 2018
CURRENT ASSETS    
Cash and cash equivalents $ 41.0 $ 15.9
Contracts-in-transit and vehicle receivables, net 256.2 265.7
Accounts and notes receivable, net 222.2 194.0
Inventories, net 1,792.7 1,844.1
Prepaid expenses and other current assets 74.4 82.7
TOTAL CURRENT ASSETS 2,386.5 2,402.4
Property and equipment, net of accumulated depreciation of $380.5 and $347.3, respectively 1,484.8 1,347.8
Operating lease assets 204.7  
Goodwill 979.0 963.9
Intangible franchise rights 252.9 259.6
Other assets 21.1 27.4
TOTAL ASSETS 5,329.0 5,001.1
CURRENT LIABILITIES    
Floorplan notes payable - credit facility and other, net of offset account of $25.0 and $33.6, respectively 1,199.8 1,258.9
Floorplan notes payable — manufacturer affiliates, net of offset account of $0.2 and $0.1, respectively 410.5 417.8
Current maturities of long-term debt 66.0 93.0
Current operating lease liabilities 23.9  
Accounts payable 483.3 419.4
Accrued expenses and other current liabilities 213.8 197.6
TOTAL CURRENT LIABILITIES 2,397.3 2,386.7
Long-term debt, net of current maturities 1,308.0 1,281.4
Operating lease liabilities, net of current portion 195.5  
Deferred income taxes 131.4 134.7
Other liabilities 110.5 102.6
STOCKHOLDERS’ EQUITY    
Common stock, $0.01 par value, 50,000,000 shares authorized; 25,504,131 and 25,494,328 shares issued, respectively 0.3 0.3
Additional paid-in capital 291.9 292.8
Retained earnings 1,499.8 1,394.8
Accumulated other comprehensive income (loss) (169.5) (137.8)
Treasury stock, at cost; 6,885,019 and 7,171,661 shares, respectively (436.2) (454.4)
TOTAL STOCKHOLDERS’ EQUITY 1,186.3 1,095.7
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 5,329.0 $ 5,001.1