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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 202.9 $ 101.9
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 21.7 19.5
Change in operating lease assets 7.8 5.9
Deferred income taxes 7.2 5.9
Stock-based compensation 8.0 6.4
Amortization of debt discount and issuance costs 0.8 0.6
Gain on disposition of assets (21.4) (1.1)
Other 0.1 (0.5)
Changes in assets and liabilities, net of acquisitions and dispositions:    
Accounts payable and accrued expenses 24.0 18.3
Accounts and notes receivable (10.5) (8.4)
Inventories (26.8) 149.3
Contracts-in-transit and vehicle receivables (0.4) (43.5)
Prepaid expenses and other assets 10.1 (7.9)
Floorplan notes payable — manufacturer affiliates 11.4 (0.5)
Deferred revenues (0.1) (0.1)
Operating lease liabilities (8.1) (6.6)
Net cash provided by operating activities 226.8 239.3
CASH FLOWS FROM INVESTING ACTIVITIES:    
Cash paid for acquisitions, net, including repayment of sellers’ floorplan notes payable of $1.9 and $5.3, respectively (247.7) (49.9)
Proceeds from disposition of franchises, property and equipment 79.5 10.4
Purchases of property and equipment (33.9) (37.3)
Other (2.4) 0.0
Net cash used in investing activities (204.5) (76.7)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings on credit facility — floorplan line and other 2,996.4 2,310.4
Repayments on credit facility — floorplan line and other (2,831.4) (2,461.6)
Borrowings on credit facility — acquisition line 148.0 0.0
Repayments on credit facility — acquisition line (176.3) 0.0
Debt issuance costs (3.7) 0.0
Borrowings on other debt 171.1 40.1
Principal payments on other debt (191.1) (45.4)
Proceeds from employee stock purchase plan 5.8 3.5
Payments of tax withholding for stock-based compensation (7.1) (7.0)
Repurchases of common stock, amounts based on settlement date (115.2) 0.0
Dividends paid (6.1) (5.6)
Net cash used in financing activities (9.7) (165.6)
Effect of exchange rate changes on cash 0.4 (1.3)
Net increase (decrease) in cash and cash equivalents 13.1 (4.3)
CASH AND CASH EQUIVALENTS, beginning of period 18.7 87.3
CASH AND CASH EQUIVALENTS, end of period $ 31.8 $ 82.9