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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 30, 2022
Dec. 31, 2021
CURRENT ASSETS:    
Cash and cash equivalents $ 26.3 $ 14.9
Contracts-in-transit and vehicle receivables, net 223.2 218.9
Accounts and notes receivable, net 182.6 177.9
Inventories 1,125.5 1,073.1
Prepaid expenses 22.0 30.6
Other current assets 20.6 50.4
Current assets classified as held for sale 76.2 100.3
TOTAL CURRENT ASSETS 1,676.3 1,666.2
Property and equipment, net of accumulated depreciation of $536.9 and $513.5, respectively 1,998.4 1,957.8
Operating lease assets 241.6 267.8
Goodwill 1,596.6 1,420.2
Intangible franchise rights 474.6 392.3
Other long-term assets 115.2 45.0
TOTAL ASSETS 6,102.8 5,749.4
CURRENT LIABILITIES:    
Floorplan notes payable — credit facility and other, net of offset account of $77.9 and $268.6, respectively 576.0 295.0
Floorplan notes payable — manufacturer affiliates, net of offset account of $5.5 and $3.3, respectively 204.9 236.0
Current maturities of long-term debt 119.3 220.4
Current operating lease liabilities 24.1 25.9
Accounts payable 437.8 457.8
Accrued expenses and other current liabilities 261.7 258.6
Current liabilities classified as held for sale 58.7 49.9
TOTAL CURRENT LIABILITIES 1,682.4 1,543.6
Long-term debt 1,851.0 1,815.3
Long-term operating lease liabilities 230.4 256.6
Deferred income taxes 212.0 180.9
Other long-term liabilities 122.5 127.7
Commitments and Contingencies (Note 12)
STOCKHOLDERS’ EQUITY:    
Common stock, $0.01 par value, 50,000,000 shares authorized; 25,258,744 and 25,336,054 shares issued, respectively 0.3 0.3
Additional paid-in capital 331.8 325.8
Retained earnings 2,732.5 2,345.9
Accumulated other comprehensive income (loss) (128.3) (156.2)
Treasury stock, at cost; 9,416,720 and 8,160,228 shares, respectively (931.8) (690.4)
TOTAL STOCKHOLDERS’ EQUITY 2,004.5 1,825.2
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 6,102.8 $ 5,749.4