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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Mar. 31, 2021
Dec. 31, 2020
CURRENT ASSETS:    
Cash and cash equivalents $ 82.9 $ 87.3
Contracts-in-transit and vehicle receivables, net 254.7 211.2
Accounts and notes receivable, net 208.0 200.0
Inventories 1,320.4 1,468.0
Prepaid expenses 25.8 19.4
Other current assets 19.3 18.4
TOTAL CURRENT ASSETS 1,911.2 2,004.2
Property and equipment, net of accumulated depreciation of $475.2 and $460.2, respectively 1,640.1 1,608.2
Operating lease assets 204.8 209.9
Goodwill 1,019.1 997.1
Intangible franchise rights 236.3 232.8
Other long-term assets 53.6 37.2
TOTAL ASSETS 5,065.1 5,089.4
CURRENT LIABILITIES:    
Floorplan notes payable — credit facility and other, net of offset account of $231.9 and $160.4, respectively 616.4 767.6
Floorplan notes payable — manufacturer affiliates, net of offset account of $12.9 and $16.0, respectively 327.8 327.5
Current maturities of long-term debt 64.3 56.7
Current operating lease liabilities 20.2 21.5
Accounts payable 439.9 442.6
Accrued expenses and other current liabilities 243.9 226.9
TOTAL CURRENT LIABILITIES 1,712.5 1,842.7
Long-term debt 1,282.6 1,294.7
Long-term operating lease liabilities 200.8 207.6
Deferred income taxes 158.0 141.0
Other long-term liabilities 134.5 153.8
Commitments and Contingencies (Note 12)
STOCKHOLDERS’ EQUITY:    
Common stock, $0.01 par value, 50,000,000 shares authorized; 25,367,736 and 25,433,048 shares issued, respectively 0.3 0.3
Additional paid-in capital 305.7 308.3
Retained earnings 1,914.2 1,817.9
Accumulated other comprehensive income (loss) (156.2) (184.0)
Treasury stock, at cost; 7,203,806 and 7,342,546 shares, respectively (487.3) (492.8)
TOTAL STOCKHOLDERS’ EQUITY 1,576.6 1,449.6
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 5,065.1 $ 5,089.4