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FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables) | 9 Months Ended
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Sep. 30, 2021
Fair Value Disclosures [Abstract] |
Schedule of carrying value and fair value of the Company’s fixed rate long-term debt | The carrying value and fair value of the Company’s 4.00% Senior Notes and fixed rate mortgages were as follows (in millions):
|  | September 30, 2021 |  | December 31, 2020
|  | Carrying Value (1) |  | Fair Value |  | Carrying Value (1) |  | Fair Value
4.00% Senior Notes |  | $ | 550.0 |  |  | $ | 563.0 |  |  | $ | 550.0 |  |  | $ | 567.0 |
Real estate related |  | 79.3 |  |  | 72.0 |  |  | 84.3 |  |  | 77.0 |
Total |  | $ | 629.3 |  |  | $ | 635.0 |  |  | $ | 634.3 |  |  | $ | 644.0 |
(1) Carrying value excludes unamortized debt issuance costs.
Schedule of assets and liabilities associated with interest rate derivative instruments | Assets and liabilities associated with the Company’s interest rate swaps, as reflected gross in the Condensed Consolidated Balance Sheets, were as follows (in millions):
|  | September 30, 2021 |  | December 31, 2020
Assets: |  |  |  |
Other current assets |  | $ | — |  |  | $ | 1.9 |
Other long-term assets |  | 11.5 |  |  | 0.3 |
Total assets |  | $ | 11.5 |  |  | $ | 2.3 |
Liabilities: |  |  |  |
Accrued expenses and other current liabilities (1) |  | $ | 1.1 |  |  | $ | 4.2 |
Other long-term liabilities |  | 22.1 |  |  | 40.6 |
Total liabilities |  | $ | 23.2 |  |  | $ | 44.8 |
(1) As of September 30, 2021, the entire balance consisted of the gross fair value of the de-designated swaps as described below.
Schedule of cash flow hedges included in accumulated other comprehensive income (loss) | The following tables present the impact of the Company’s interest rate swaps designated as cash flow hedges (in millions):
|  | Amount of Unrealized Income (Loss), Net of Tax, Recognized in Other Comprehensive Income (Loss)
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
Derivatives in Cash Flow Hedging Relationship |  | 2021 |  | 2020 |  | 2021 |  | 2020
Interest rate swaps |  | $ | (0.6) |  |  | $ | (1.8) |  |  | $ | 16.1 |  |  | $ | (40.4) |
|  | Amount of Loss Reclassified from Other Comprehensive Income (Loss) into Statements of Operations
Statement of Operations Classification |  | Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Floorplan interest expense |  | $ | (1.4) |  |  | $ | (2.6) |  |  | $ | (5.0) |  |  | $ | (5.3) |
Other interest expense, net |  | $ | (1.0) |  |  | $ | (1.0) |  |  | $ | (2.9) |  |  | $ | (1.8) |

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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5580258-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=125515794&loc=d3e41620-113959 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5579245-113959 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=125515794&loc=d3e41638-113959 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=125515794&loc=d3e41678-113959 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=125515794&loc=d3e41641-113959 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5579240-113959 + Details
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