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Condensed Consolidated Financial Information (Tables) | 12 Months Ended
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Dec. 31, 2019
Condensed Financial Information Disclosure [Abstract] |
Condensed Consolidated Balance Sheets | CONDENSED CONSOLIDATED BALANCE SHEETS As of December 31, 2019 (In millions)
| Group 1 Automotive, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Elimination |  | Total Company
ASSETS
CURRENT ASSETS: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | — |  |  | $ | 5.6 |  |  | $ | 18.2 |  |  | $ | — |  |  | $ | 23.8 |
Contracts-in-transit and vehicle receivables, net | — |  |  | 211.0 |  |  | 42.8 |  |  | — |  |  | 253.8 |
Accounts and notes receivable, net | 0.4 |  |  | 177.0 |  |  | 47.7 |  |  | — |  |  | 225.1 |
Intercompany accounts receivable | 72.3 |  |  | 99.0 |  |  | 1.0 |  |  | (172.3 | ) |  | — |
Inventories, net | — |  |  | 1,498.5 |  |  | 403.2 |  |  | — |  |  | 1,901.7 |
Prepaid and other current assets | 2.0 |  |  | 31.0 |  |  | 78.9 |  |  | — |  |  | 111.9 |
TOTAL CURRENT ASSETS | 74.7 |  |  | 2,022.1 |  |  | 591.8 |  |  | (172.3 | ) |  | 2,516.3 |
Property and equipment, net | — |  |  | 1,251.4 |  |  | 295.7 |  |  | — |  |  | 1,547.1 |
Operating lease assets | — |  |  | 114.8 |  |  | 105.3 |  |  | — |  |  | 220.1 |
Goodwill | — |  |  | 902.3 |  |  | 106.0 |  |  | — |  |  | 1,008.3 |
Intangible franchise rights | — |  |  | 223.0 |  |  | 30.5 |  |  | — |  |  | 253.5 |
Investment in subsidiaries | 3,393.2 |  |  | — |  |  | — |  |  | (3,393.2 | ) |  | — |
Other long-term assets | — |  |  | 14.9 |  |  | 9.9 |  |  | — |  |  | 24.8 |
TOTAL ASSETS | $ | 3,467.9 |  |  | $ | 4,528.5 |  |  | $ | 1,139.2 |  |  | $ | (3,565.5 | ) |  | $ | 5,570.2 |
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES: |  |  |  |  |  |  |  |  |
Floorplan notes payable — credit facility and other, net of offset account of $106.8 | $ | — |  |  | $ | 1,099.1 |  |  | $ | 45.3 |  |  | $ | — |  |  | $ | 1,144.4 |
Floorplan notes payable — manufacturer affiliates, net of offset account of $4.1 | — |  |  | 318.4 |  |  | 141.5 |  |  | — |  |  | 459.9 |
Current maturities of long-term debt | — |  |  | 27.0 |  |  | 32.1 |  |  | — |  |  | 59.1 |
Current operating lease liabilities | — |  |  | 17.4 |  |  | 7.2 |  |  | — |  |  | 24.6 |
Accounts payable | — |  |  | 235.4 |  |  | 292.1 |  |  | — |  |  | 527.5 |
Intercompany accounts payable | 1,296.8 |  |  | — |  |  | 100.0 |  |  | (1,396.8 | ) |  | — |
Accrued expenses and other current liabilities | — |  |  | 177.2 |  |  | 29.5 |  |  | — |  |  | 206.7 |
TOTAL CURRENT LIABILITIES | 1,296.8 |  |  | 1,874.5 |  |  | 647.7 |  |  | (1,396.8 | ) |  | 2,422.3 |
Long-term debt, net of current maturities | 915.3 |  |  | 379.0 |  |  | 137.8 |  |  | — |  |  | 1,432.1 |
Operating lease liabilities, net of current portion | — |  |  | 104.9 |  |  | 105.8 |  |  | — |  |  | 210.7 |
Deferred income taxes and other long-term liabilities | — |  |  | 245.6 |  |  | 3.7 |  |  | — |  |  | 249.3 |
STOCKHOLDERS’ EQUITY: |  |  |  |  |  |  |  |  |
Group 1 stockholders’ equity | 1,255.7 |  |  | 3,148.9 |  |  | 244.3 |  |  | (3,393.2 | ) |  | 1,255.7 |
Intercompany note receivable | — |  |  | (1,224.5 | ) |  | — |  |  | 1,224.5 |  |  | — |
TOTAL STOCKHOLDERS’ EQUITY | 1,255.7 |  |  | 1,924.4 |  |  | 244.3 |  |  | (2,168.7 | ) |  | 1,255.7 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 3,467.9 |  |  | $ | 4,528.5 |  |  | $ | 1,139.2 |  |  | $ | (3,565.5 | ) |  | $ | 5,570.2 |
CONDENSED CONSOLIDATED BALANCE SHEETS As of December 31, 2018 (In millions)
| Group 1 Automotive, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Elimination |  | Total Company
ASSETS
CURRENT ASSETS: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | — |  |  | $ | 4.6 |  |  | $ | 11.3 |  |  | $ | — |  |  | $ | 15.9 |
Contracts-in-transit and vehicle receivables, net | — |  |  | 232.1 |  |  | 33.6 |  |  | — |  |  | 265.7 |
Accounts and notes receivable, net | — |  |  | 153.9 |  |  | 40.1 |  |  | — |  |  | 194.0 |
Intercompany accounts receivable | 31.9 |  |  | 21.6 |  |  | — |  |  | (53.5 | ) |  | — |
Inventories, net | — |  |  | 1,468.5 |  |  | 375.6 |  |  | — |  |  | 1,844.1 |
Prepaid expenses and other current assets | 1.0 |  |  | 32.1 |  |  | 49.6 |  |  | — |  |  | 82.7 |
TOTAL CURRENT ASSETS | 32.9 |  |  | 1,912.8 |  |  | 510.2 |  |  | (53.5 | ) |  | 2,402.4 |
Property and equipment, net | — |  |  | 1,124.5 |  |  | 223.3 |  |  | — |  |  | 1,347.8 |
Goodwill | — |  |  | 861.6 |  |  | 102.3 |  |  | — |  |  | 963.9 |
Intangible franchise rights | — |  |  | 224.4 |  |  | 35.2 |  |  | — |  |  | 259.6 |
Investment in subsidiaries | 3,100.9 |  |  | — |  |  | — |  |  | (3,100.9 | ) |  | — |
Other long-term assets | — |  |  | 16.2 |  |  | 11.2 |  |  | — |  |  | 27.3 |
TOTAL ASSETS | $ | 3,133.8 |  |  | $ | 4,139.5 |  |  | $ | 882.2 |  |  | $ | (3,154.4 | ) |  | $ | 5,001.1 |
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES: |  |  |  |  |  |  |  |  |
Floorplan notes payable — credit facility and other, net of offset account of $33.6 | $ | — |  |  | $ | 1,217.8 |  |  | $ | 41.1 |  |  | $ | — |  |  | $ | 1,258.8 |
Floorplan notes payable — manufacturer affiliates, net of offset account of $0.1 | — |  |  | 276.7 |  |  | 141.1 |  |  | — |  |  | 417.8 |
Current maturities of long-term debt | — |  |  | 73.9 |  |  | 19.1 |  |  | — |  |  | 93.0 |
Accounts payable | — |  |  | 201.0 |  |  | 218.4 |  |  | — |  |  | 419.4 |
Intercompany accounts payable | 1,165.0 |  |  | — |  |  | 53.4 |  |  | (1,218.4 | ) |  | — |
Accrued expenses and other current liabilities | — |  |  | 165.0 |  |  | 32.6 |  |  | — |  |  | 197.6 |
TOTAL CURRENT LIABILITIES | 1,165.0 |  |  | 1,934.4 |  |  | 505.7 |  |  | (1,218.4 | ) |  | 2,386.6 |
Long-term debt, net of current maturities | 872.3 |  |  | 294.3 |  |  | 114.8 |  |  | — |  |  | 1,281.5 |
Deferred income taxes and other long-term liabilities | 0.8 |  |  | 224.7 |  |  | 11.8 |  |  | — |  |  | 237.3 |
STOCKHOLDERS’ EQUITY: |  |  |  |  |  |  |  |  |
Group 1 stockholders’ equity | 1,095.7 |  |  | 2,851.0 |  |  | 249.9 |  |  | (3,100.9 | ) |  | 1,095.7 |
Intercompany note receivable | — |  |  | (1,164.9 | ) |  | — |  |  | 1,164.9 |  |  | — |
TOTAL STOCKHOLDERS’ EQUITY | 1,095.7 |  |  | 1,686.1 |  |  | 249.9 |  |  | (1,936.0 | ) |  | 1,095.7 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 3,133.8 |  |  | $ | 4,139.5 |  |  | $ | 882.2 |  |  | $ | (3,154.4 | ) |  | $ | 5,001.1 |
Condensed Consolidated Statements of Operations | CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Year Ended December 31, 2019 (In millions)
| Group 1 Automotive, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Elimination |  | Total Company
Revenues | $ | — |  |  | $ | 9,184.3 |  |  | $ | 2,859.5 |  |  | $ | — |  |  | $ | 12,043.8 |
Cost of sales | — |  |  | 7,689.5 |  |  | 2,538.3 |  |  | — |  |  | 10,227.8 |
Gross profit | — |  |  | 1,494.8 |  |  | 321.2 |  |  | — |  |  | 1,816.0 |
Selling, general and administrative expenses | 4.1 |  |  | 1,066.6 |  |  | 287.7 |  |  | — |  |  | 1,358.4 |
Depreciation and amortization expense | — |  |  | 55.4 |  |  | 16.2 |  |  | — |  |  | 71.6 |
Asset impairments | — |  |  | 14.6 |  |  | 7.6 |  |  | — |  |  | 22.2 |
Income (loss) from operations | (4.1 | ) |  | 358.2 |  |  | 9.7 |  |  | — |  |  | 363.7 |
Interest expense: |  |  |  |  |  |  |  |  |  |
Floorplan interest expense | — |  |  | 53.8 |  |  | 7.8 |  |  | — |  |  | 61.6 |
Other interest expense, net | — |  |  | 67.5 |  |  | 7.4 |  |  | — |  |  | 74.9 |
Income (loss) before income taxes and equity in earnings of subsidiaries | (4.1 | ) |  | 236.9 |  |  | (5.5 | ) |  | — |  |  | 227.3 |
(Benefit) provision for income taxes | (1.0 | ) |  | 56.2 |  |  | (1.9 | ) |  | — |  |  | 53.3 |
Equity in earnings (loss) of subsidiaries | 177.1 |  |  | — |  |  | — |  |  | (177.1 | ) |  | — |
Net income (loss) | $ | 174.0 |  |  | $ | 180.7 |  |  | $ | (3.6 | ) |  | $ | (177.1 | ) |  | $ | 174.0 |
Other comprehensive income (loss) | (9.2 | ) |  | (13.0 | ) |  | 3.8 |  |  | 9.2 |  |  | (9.2 | )
Comprehensive income (loss) | $ | 164.8 |  |  | $ | 167.7 |  |  | $ | 0.2 |  |  | $ | (167.9 | ) |  | $ | 164.8 |
Year Ended December 31, 2018 (In millions)
| Group 1 Automotive, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Elimination |  | Total Company
Revenues | $ | — |  |  | $ | 8,723.3 |  |  | $ | 2,878.1 |  |  | $ | — |  |  | $ | 11,601.4 |
Cost of sales | — |  |  | 7,332.0 |  |  | 2,544.3 |  |  | — |  |  | 9,876.3 |
Gross profit | — |  |  | 1,391.3 |  |  | 333.8 |  |  | — |  |  | 1,725.1 |
Selling, general and administrative expenses | 3.4 |  |  | 971.9 |  |  | 297.7 |  |  | — |  |  | 1,273.1 |
Depreciation and amortization expense | — |  |  | 52.9 |  |  | 14.2 |  |  | — |  |  | 67.1 |
Asset impairments | — |  |  | 43.4 |  |  | 0.5 |  |  | — |  |  | 43.9 |
Income (loss) from operations | (3.4 | ) |  | 323.1 |  |  | 21.4 |  |  | — |  |  | 341.1 |
Interest expense: |  |  |  |  |  |  |  |  |
Floorplan interest expense | — |  |  | (52.8 | ) |  | (7.1 | ) |  | — |  |  | (59.9 | )
Other interest expense, net | — |  |  | (68.1 | ) |  | (7.7 | ) |  | — |  |  | (75.8 | )
Income (loss) before income taxes and equity in earnings of subsidiaries | (3.4 | ) |  | 202.2 |  |  | 6.5 |  |  | — |  |  | 205.4 |
(Benefit) provision for income taxes | (0.8 | ) |  | 44.5 |  |  | 3.9 |  |  | — |  |  | 47.6 |
Equity in earnings (loss) of subsidiaries | 160.4 |  |  | — |  |  | — |  |  | (160.4 | ) |  | — |
Net income (loss) | $ | 157.8 |  |  | $ | 157.7 |  |  | $ | 2.6 |  |  | $ | (160.4 | ) |  | $ | 157.8 |
Other comprehensive income (loss) | — |  |  | 9.8 |  |  | (24.2 | ) |  | — |  |  | (14.4 | )
Comprehensive income (loss) | $ | 157.8 |  |  | $ | 167.5 |  |  | $ | (21.5 | ) |  | $ | (160.4 | ) |  | $ | 143.4 |
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Year Ended December 31, 2017 (In millions)
| Group 1 Automotive, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Elimination |  | Total Company
Revenues | $ | — |  |  | $ | 8,680.6 |  |  | $ | 2,443.2 |  |  | $ | — |  |  | $ | 11,123.7 |
Cost of sales | — |  |  | 7,315.3 |  |  | 2,163.0 |  |  | — |  |  | 9,478.2 |
Gross profit | — |  |  | 1,365.3 |  |  | 280.2 |  |  | — |  |  | 1,645.5 |
Selling, general and administrative expenses | 3.4 |  |  | 974.4 |  |  | 248.4 |  |  | — |  |  | 1,226.2 |
Depreciation and amortization expense | — |  |  | 48.3 |  |  | 9.7 |  |  | — |  |  | 57.9 |
Asset impairments | — |  |  | 12.8 |  |  | 6.7 |  |  | — |  |  | 19.5 |
Income (loss) from operations | (3.4 | ) |  | 329.9 |  |  | 15.4 |  |  | — |  |  | 341.9 |
Interest expense: |  |  |  |  |  |  |  |  |
Floorplan interest expense | — |  |  | (47.2 | ) |  | (5.2 | ) |  | — |  |  | (52.4 | )
Other interest expense, net | — |  |  | (66.5 | ) |  | (4.0 | ) |  | — |  |  | (70.5 | )
Income (loss) before income taxes and equity in earnings of subsidiaries | (3.4 | ) |  | 216.1 |  |  | 6.2 |  |  | — |  |  | 219.0 |
(Benefit) provision for income taxes | (1.3 | ) |  | 6.9 |  |  | (0.1 | ) |  | — |  |  | 5.6 |
Equity in earnings (loss) of subsidiaries | 215.6 |  |  | — |  |  | — |  |  | (215.6 | ) |  | — |
Net income (loss) | $ | 213.4 |  |  | $ | 209.2 |  |  | $ | 6.4 |  |  | $ | (215.6 | ) |  | $ | 213.4 |
Other comprehensive income (loss) | — |  |  | 8.7 |  |  | 15.1 |  |  | — |  |  | 23.7 |
Comprehensive income (loss) | $ | 213.4 |  |  | $ | 217.9 |  |  | $ | 21.4 |  |  | $ | (215.6 | ) |  | $ | 237.2 |
Condensed Consolidated Statements of Cash Flows | CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Year Ended December 31, 2019 (In millions)
| Group 1 Automotive, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Total Company
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |  |  |
Net cash provided by (used in) operating activities | $ | 174.0 |  |  | $ | 169.1 |  |  | $ | 27.8 |  |  | $ | 370.9 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |
Cash paid for acquisitions, net of cash received | — |  |  | (113.9 | ) |  | (29.3 | ) |  | (143.2 | )
Proceeds from disposition of franchises, property and equipment | — |  |  | 37.2 |  |  | 6.2 |  |  | 43.4 |
Purchases of property and equipment | — |  |  | (133.7 | ) |  | (58.1 | ) |  | (191.8 | )
Net cash used in (provided by) investing activities | — |  |  | (210.4 | ) |  | (81.2 | ) |  | (291.6 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |
Borrowings on credit facility — floorplan line and other | — |  |  | 7,248.9 |  |  | 55.7 |  |  | 7,304.6 |
Repayments on credit facility — floorplan line and other | — |  |  | (7,370.1 | ) |  | (53.1 | ) |  | (7,423.2 | )
Borrowings on credit facility — acquisition line | 319.0 |  |  | — |  |  | — |  |  | 319.0 |
Repayments on credit facility — acquisition line | (281.4 | ) |  | — |  |  | — |  |  | (281.4 | )
Debt issue costs | — |  |  | (3.5 | ) |  | (1.9 | ) |  | (5.4 | )
Borrowings on other debt | — |  |  | 55.7 |  |  | 121.7 |  |  | 177.4 |
Principal payments on other debt | — |  |  | (53.8 | ) |  | (112.9 | ) |  | (166.7 | )
Borrowings on debt related to real estate | — |  |  | 152.4 |  |  | 21.1 |  |  | 173.5 |
Principal payments on debt related to real estate | — |  |  | (138.7 | ) |  | (8.6 | ) |  | (147.3 | )
Proceeds from employee stock purchase plan | 8.6 |  |  | — |  |  | — |  |  | 8.6 |
Payment of tax withholding for stock-based awards | (4.4 | ) |  | — |  |  | — |  |  | (4.4 | )
Repurchases of common stock, amounts based on settlement date | (1.4 | ) |  | — |  |  | — |  |  | (1.4 | )
Dividends paid | (20.3 | ) |  | — |  |  | — |  |  | (20.3 | )
Borrowings (repayments) with subsidiaries | 113.5 |  |  | (155.9 | ) |  | 42.5 |  |  | — |
Investment in subsidiaries | (307.5 | ) |  | 307.3 |  |  | 0.2 |  |  | — |
Net cash provided by (used in) financing activities | (174.0 | ) |  | 42.3 |  |  | 64.7 |  |  | (67.0 | )
Effect of exchange rate changes on cash | — |  |  | — |  |  | (2.9 | ) |  | (2.9 | )
Net increase (decrease) in cash, cash equivalents and restricted cash | — |  |  | 1.0 |  |  | 8.4 |  |  | 9.3 |
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period | — |  |  | 4.6 |  |  | 14.1 |  |  | 18.7 |
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period | $ | — |  |  | $ | 5.6 |  |  | $ | 22.5 |  |  | $ | 28.1 |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Year Ended December 31, 2018 (In millions)
| Group 1 Automotive, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Total Company
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |  |  |
Net cash provided by (used in) operating activities | $ | 157.8 |  |  | $ | 98.9 |  |  | $ | 13.3 |  |  | $ | 270.0 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |
Cash paid for acquisitions, net of cash received | — |  |  | (91.9 | ) |  | (43.5 | ) |  | (135.3 | )
Proceeds from disposition of franchises, property and equipment | — |  |  | 101.5 |  |  | 6.4 |  |  | 107.9 |
Purchases of property and equipment | — |  |  | (97.2 | ) |  | (43.8 | ) |  | (141.0 | )
Other | 0.5 |  |  | — |  |  | — |  |  | 0.5 |
Net cash provided by (used in) investing activities | 0.5 |  |  | (87.7 | ) |  | (80.8 | ) |  | (168.0 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |
Borrowings on credit facility — floorplan line and other | — |  |  | 6,858.5 |  |  | 95.8 |  |  | 6,954.3 |
Repayments on credit facility — floorplan line and other | — |  |  | (6,797.1 | ) |  | (72.9 | ) |  | (6,870.1 | )
Borrowings on credit facility — acquisition line | 165.3 |  |  | — |  |  | — |  |  | 165.3 |
Repayments on credit facility — acquisition line | (158.5 | ) |  | — |  |  | — |  |  | (158.5 | )
Borrowings on other debt | — |  |  | 95.8 |  |  | 60.2 |  |  | 156.0 |
Principal payments on other debt | (24.7 | ) |  | (48.9 | ) |  | (45.1 | ) |  | (118.8 | )
Borrowings on debt related to real estate | — |  |  | 42.7 |  |  | 12.1 |  |  | 54.7 |
Principal payments on debt related to real estate | — |  |  | (77.8 | ) |  | (13.7 | ) |  | (91.5 | )
Proceeds from employee stock purchase plan | 7.6 |  |  | — |  |  | — |  |  | 7.6 |
Payment of tax withholding for stock-based awards | (4.9 | ) |  | — |  |  | — |  |  | (4.9 | )
Proceeds from termination of mortgage swap | — |  |  | 0.9 |  |  | — |  |  | 0.9 |
Repurchases of common stock, amounts based on settlement date | (183.9 | ) |  | — |  |  | — |  |  | (183.9 | )
Dividends paid | (20.9 | ) |  | — |  |  | — |  |  | (20.9 | )
Borrowings (repayments) with subsidiaries | 289.4 |  |  | (300.7 | ) |  | 11.3 |  |  | — |
Investment in subsidiaries | (227.8 | ) |  | 209.9 |  |  | 17.8 |  |  | — |
Net cash provided by (used in) financing activities | (158.3 | ) |  | (16.8 | ) |  | 65.5 |  |  | (109.5 | )
Effect of exchange rate changes on cash | — |  |  | — |  |  | (3.3 | ) |  | (3.3 | )
Net increase (decrease) in cash, cash equivalents and restricted cash | — |  |  | (5.5 | ) |  | (5.4 | ) |  | (10.9 | )
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period | — |  |  | 10.1 |  |  | 19.5 |  |  | 29.6 |
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period | $ | — |  |  | $ | 4.6 |  |  | $ | 14.1 |  |  | $ | 18.7 |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Year Ended December 31, 2017 (In millions)
| Group 1 Automotive, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Total Company
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |  |  |
Net cash provided by (used in) operating activities | $ | 214.6 |  |  | $ | (13.8 | ) |  | $ | (4.3 | ) |  | $ | 196.5 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |
Cash paid for acquisitions, net of cash received | — |  |  | (62.5 | ) |  | (46.6 | ) |  | (109.1 | )
Proceeds from disposition of franchises, property and equipment | — |  |  | 8.3 |  |  | 2.4 |  |  | 10.7 |
Purchases of property and equipment | — |  |  | (185.3 | ) |  | (30.5 | ) |  | (215.8 | )
Other | — |  |  | 1.6 |  |  | — |  |  | 1.6 |
Net cash provided by (used in) investing activities | — |  |  | (237.9 | ) |  | (74.7 | ) |  | (312.6 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |
Borrowings on credit facility — floorplan line and other | — |  |  | 7,019.1 |  |  | — |  |  | 7,019.1 |
Repayments on credit facility — floorplan line and other | — |  |  | (6,957.9 | ) |  | — |  |  | (6,957.9 | )
Borrowings on credit facility — acquisition line | 68.1 |  |  | — |  |  | — |  |  | 68.1 |
Repayments on credit facility — acquisition line | (42.3 | ) |  | — |  |  | — |  |  | (42.3 | )
Borrowings on other debt | 25.1 |  |  | — |  |  | 140.6 |  |  | 165.7 |
Principal payments on other debt | (0.3 | ) |  | (0.7 | ) |  | (120.2 | ) |  | (121.2 | )
Borrowings on debt related to real estate | — |  |  | 46.4 |  |  | 28.9 |  |  | 75.3 |
Principal payments on debt related to real estate | — |  |  | (22.9 | ) |  | (6.5 | ) |  | (29.4 | )
Proceeds from employee stock purchase plan | 7.1 |  |  | — |  |  | — |  |  | 7.1 |
Payment of tax withholding for stock-based awards | (2.5 | ) |  | — |  |  | — |  |  | (2.5 | )
Repurchases of common stock, amounts based on settlement date | (40.1 | ) |  | — |  |  | — |  |  | (40.1 | )
Dividends paid | (20.5 | ) |  | — |  |  | — |  |  | (20.5 | )
Borrowings (repayments) with subsidiaries | 2.9 |  |  | (32.7 | ) |  | 29.8 |  |  | — |
Investment in subsidiaries | (212.1 | ) |  | 202.4 |  |  | 9.7 |  |  | — |
Net cash provided by (used in) financing activities | (214.6 | ) |  | 253.7 |  |  | 82.4 |  |  | 121.5 |
Net increase (decrease) in cash, cash equivalents and restricted cash | — |  |  | 2.1 |  |  | 3.3 |  |  | 5.4 |
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period | — |  |  | 8.0 |  |  | 16.2 |  |  | 24.2 |
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period | $ | — |  |  | $ | 10.1 |  |  | $ | 19.5 |  |  | $ | 29.6 |

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