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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 30, 2021
Dec. 31, 2020
CURRENT ASSETS:    
Cash and cash equivalents $ 198.7 $ 87.3
Contracts-in-transit and vehicle receivables, net 222.5 211.2
Accounts and notes receivable, net 196.8 200.0
Inventories 1,030.2 1,468.0
Prepaid expenses 22.3 19.4
Other current assets 19.4 18.4
TOTAL CURRENT ASSETS 1,689.8 2,004.2
Property and equipment, net of accumulated depreciation of $491.1 and $460.2, respectively 1,645.9 1,608.2
Operating lease assets 213.2 209.9
Goodwill 1,018.7 997.1
Intangible franchise rights 236.4 232.8
Other long-term assets 51.7 37.2
TOTAL ASSETS 4,855.9 5,089.4
CURRENT LIABILITIES:    
Floorplan notes payable — credit facility and other, net of offset account of $326.1 and $160.4, respectively 224.5 767.6
Floorplan notes payable — manufacturer affiliates, net of offset account of $— and $16.0, respectively 274.0 327.5
Current maturities of long-term debt 59.4 56.7
Current operating lease liabilities 22.0 21.5
Accounts payable 424.4 442.6
Accrued expenses and other current liabilities 267.8 226.9
TOTAL CURRENT LIABILITIES 1,272.0 1,842.7
Long-term debt 1,322.0 1,294.7
Long-term operating lease liabilities 208.1 207.6
Deferred income taxes 156.4 141.0
Other long-term liabilities 143.4 153.8
Commitments and Contingencies (Note 11)
STOCKHOLDERS’ EQUITY:    
Common stock, $0.01 par value, 50,000,000 shares authorized; 25,357,677 and 25,433,048 shares issued, respectively 0.3 0.3
Additional paid-in capital 313.6 308.3
Retained earnings 2,099.1 1,817.9
Accumulated other comprehensive income (loss) (155.9) (184.0)
Treasury stock, at cost; 7,282,827 and 7,342,546 shares, respectively (503.1) (492.8)
TOTAL STOCKHOLDERS’ EQUITY 1,754.0 1,449.6
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 4,855.9 $ 5,089.4