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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
CURRENT ASSETS:    
Cash and cash equivalents $ 14.9 $ 69.0
Contracts-in-transit and vehicle receivables, net 218.9 210.6
Accounts and notes receivables, net 177.9 192.2
Inventories 1,073.1 1,446.4
Prepaid expenses 30.6 15.3
Other current assets 50.4 16.1
Current assets classified as held for sale 100.3 54.7
TOTAL CURRENT ASSETS 1,666.2 2,004.2
Property and equipment, net 1,957.8 1,584.4
Operating lease assets 267.8 207.1
Goodwill 1,420.2 997.1
Intangible franchise rights 392.3 232.8
Other long-term assets 45.0 28.7
Assets of discontinued operations — non-current (1) 0.0 35.2
TOTAL ASSETS 5,749.4 5,089.4
CURRENT LIABILITIES:    
Floorplan notes payable — credit facility and other, net of offset account of $268.6 and $160.4, respectively 295.0 766.5
Floorplan notes payable — manufacturer affiliates, net of offset account of $3.3 and $16.0, respectively 236.0 320.8
Current maturities of long-term debt 220.4 56.0
Current operating lease liabilities 25.9 19.9
Accounts payable 457.8 430.4
Accrued expenses and other current liabilities 258.6 217.9
Current liabilities classified as held for sale 49.9 31.3
TOTAL CURRENT LIABILITIES 1,543.6 1,842.7
Long-term debt 1,815.3 1,280.6
Long-term operating lease liabilities 256.6 206.0
Deferred income taxes 180.9 141.0
Other long-term liabilities 127.7 153.8
Long-term liabilities classified as held for sale 0.0 15.7
Commitments and Contingencies (Note 17)
STOCKHOLDERS’ EQUITY:    
Preferred stock, $0.01 par value, 1,000,000 shares authorized; none issued or outstanding 0.0 0.0
Common stock, $0.01 par value, 50,000,000 shares authorized; 25,336,054 and 25,433,048 issued, respectively 0.3 0.3
Additional paid-in capital 325.8 308.3
Retained earnings 2,345.9 1,817.9
Accumulated other comprehensive income (loss) (156.2) (184.0)
Treasury stock, at cost; 8,160,228 and 7,342,546 shares, respectively (690.4) (492.8)
TOTAL STOCKHOLDERS’ EQUITY 1,825.2 1,449.6
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 5,749.4 $ 5,089.4