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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2019
Dec. 31, 2018
CURRENT ASSETS:    
Cash and cash equivalents $ 23.8 $ 15.9
Contracts-in-transit and vehicle receivables, net 253.8 265.7
Accounts and notes receivable, net 225.1 194.0
Inventories, net 1,901.7 1,844.1
Prepaid expenses 96.4 56.3
Other current assets 15.5 26.4
TOTAL CURRENT ASSETS 2,516.3 2,402.4
Property and equipment, net 1,547.1 1,347.8
Operating lease assets 220.1  
Goodwill 1,008.3 963.9
Intangible franchise rights 253.5 259.6
Other long-term assets 24.8 27.3
Total assets 5,570.2 5,001.1
CURRENT LIABILITIES:    
Floorplan notes payable — credit facility and other, net of offset account of $106.8 and $33.6, respectively 1,144.4 1,258.8
Floorplan notes payable — manufacturer affiliates, net of offset account of $4.1 and $0.1, respectively 459.9 417.8
Current maturities of long-term debt 59.1 93.0
Current operating lease liabilities 24.6  
Accounts payable 527.5 419.4
Accrued expenses and other current liabilities 206.7 197.6
TOTAL CURRENT LIABILITIES 2,422.3 2,386.6
Long-term debt, net of current maturities 1,432.1 1,281.5
Operating lease liabilities, net of current portion 210.7  
Deferred income taxes 145.7 134.7
Other long-term liabilities 103.6 102.6
Commitments and Contingencies (Note 16)
STOCKHOLDERS’ EQUITY:    
Preferred stock, $0.01 par value, 1,000,000 shares authorized; none issued or outstanding 0.0 0.0
Common stock, $0.01 par value, 50,000,000 shares authorized; 25,486,711 and 25,494,328 issued, respectively 0.3 0.3
Additional paid-in capital 295.3 292.8
Retained earnings 1,542.4 1,394.8
Accumulated other comprehensive income (loss) (147.0) (137.8)
Treasury stock, at cost; 6,858,503 and 7,171,661 shares, respectively (435.3) (454.4)
TOTAL STOCKHOLDERS’ EQUITY 1,255.7 1,095.7
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 5,570.2 $ 5,001.1