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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Sep. 30, 2021
Dec. 31, 2020
CURRENT ASSETS:    
Cash and cash equivalents $ 296.9 $ 87.3
Contracts-in-transit and vehicle receivables, net 171.8 211.2
Accounts and notes receivable, net 180.6 200.0
Inventories 850.8 1,468.0
Prepaid expenses 24.5 19.4
Other current assets 46.2 18.4
TOTAL CURRENT ASSETS 1,570.8 2,004.2
Property and equipment, net of accumulated depreciation of $503.6 and $460.2, respectively 1,644.5 1,608.2
Operating lease assets 218.0 209.9
Goodwill 1,034.5 997.1
Intangible franchise rights 237.1 232.8
Other long-term assets 52.7 37.2
TOTAL ASSETS 4,757.6 5,089.4
CURRENT LIABILITIES:    
Floorplan notes payable — credit facility and other, net of offset account of $331.2 and $160.4, respectively 83.8 767.6
Floorplan notes payable — manufacturer affiliates, net of offset account of $3.5 and $16.0, respectively 234.2 327.5
Current maturities of long-term debt 57.6 56.7
Current operating lease liabilities 22.0 21.5
Accounts payable 381.7 442.6
Accrued expenses and other current liabilities 266.9 226.9
TOTAL CURRENT LIABILITIES 1,046.1 1,842.7
Long-term debt 1,276.3 1,294.7
Long-term operating lease liabilities 213.1 207.6
Deferred income taxes 159.2 141.0
Other long-term liabilities 144.4 153.8
Commitments and Contingencies (Note 11)
STOCKHOLDERS’ EQUITY:    
Common stock, $0.01 par value, 50,000,000 shares authorized; 25,343,056 and 25,433,048 shares issued, respectively 0.3 0.3
Additional paid-in capital 320.2 308.3
Retained earnings 2,265.0 1,817.9
Accumulated other comprehensive income (loss) (166.1) (184.0)
Treasury stock, at cost; 7,242,405 and 7,342,546 shares, respectively (500.8) (492.8)
TOTAL STOCKHOLDERS’ EQUITY 1,918.6 1,449.6
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 4,757.6 $ 5,089.4