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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 101.9 $ 29.8
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 19.5 18.6
Change in operating lease assets 5.9 6.4
Deferred income taxes 5.9 (0.4)
Stock-based compensation 6.4 5.1
Amortization of debt discount and issue costs 0.6 1.0
(Gain) loss on disposition of assets (1.1) 0.0
Other (0.5) 0.4
Changes in assets and liabilities, net of acquisitions and dispositions:    
Accounts payable and accrued expenses 18.3 (98.1)
Accounts and notes receivable (8.4) 41.6
Inventories 149.3 (125.7)
Contracts-in-transit and vehicle receivables (43.5) 135.2
Prepaid expenses and other assets (7.9) 1.8
Floorplan notes payable — manufacturer affiliates (0.5) 35.9
Deferred revenues (0.1) (0.2)
Operating lease liabilities (6.6) (7.3)
Net cash provided by (used in) operating activities 239.3 44.1
CASH FLOWS FROM INVESTING ACTIVITIES:    
Cash paid for acquisitions, net of cash received (49.9) 0.0
Proceeds from disposition of franchises, property and equipment 10.4 0.5
Purchases of property and equipment (37.3) (31.6)
Net cash provided by (used in) investing activities (76.7) (31.1)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings on credit facility — floorplan line and other 2,310.4 1,691.6
Repayments on credit facility — floorplan line and other (2,461.6) (1,665.6)
Borrowings on credit facility — acquisition line 0.0 30.0
Repayments on credit facility — acquisition line 0.0 (30.0)
Debt issuance costs 0.0 (0.1)
Borrowings on other debt 40.1 46.2
Principal payments on other debt (45.4) (33.7)
Proceeds from employee stock purchase plan 3.5 2.5
Payments of tax withholding for stock-based awards (7.0) (5.0)
Repurchases of common stock, amounts based on settlement date 0.0 (48.9)
Dividends paid (5.6) (5.5)
Net cash provided by (used in) financing activities (165.6) (18.5)
Effect of exchange rate changes on cash (1.3) (3.4)
Net increase (decrease) in cash, cash equivalents and restricted cash (4.3) (8.9)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period 87.3 28.1
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period $ 82.9 $ 19.2