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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Sep. 30, 2022
Dec. 31, 2021
CURRENT ASSETS:    
Cash and cash equivalents $ 20.5 $ 14.9
Contracts-in-transit and vehicle receivables, net 222.2 218.9
Accounts and notes receivable, net 184.4 177.9
Inventories 1,185.6 1,073.1
Prepaid expenses 24.8 30.6
Other current assets 18.9 50.4
Current assets classified as held for sale 38.6 100.3
TOTAL CURRENT ASSETS 1,695.1 1,666.2
Property and equipment, net of accumulated depreciation of $534.4 and $513.5, respectively 2,037.6 1,957.8
Operating lease assets 246.9 267.8
Goodwill 1,612.2 1,420.2
Intangible franchise rights 482.1 392.3
Other long-term assets 177.6 45.0
TOTAL ASSETS 6,251.5 5,749.4
CURRENT LIABILITIES:    
Floorplan notes payable — credit facility and other, net of offset account of $206.1 and $268.6, respectively 542.0 295.0
Floorplan notes payable — manufacturer affiliates, net of offset account of $12.4 and $3.3, respectively 203.9 236.0
Current maturities of long-term debt 141.5 220.4
Current operating lease liabilities 22.8 25.9
Accounts payable 468.0 457.8
Accrued expenses and other current liabilities 263.7 258.6
Current liabilities classified as held for sale 5.2 49.9
TOTAL CURRENT LIABILITIES 1,647.1 1,543.6
Long-term debt 1,800.9 1,815.3
Long-term operating lease liabilities 236.5 256.6
Deferred income taxes 227.7 180.9
Other long-term liabilities 125.2 127.7
Commitments and Contingencies (Note 12)
STOCKHOLDERS’ EQUITY:    
Common stock, $0.01 par value, 50,000,000 shares authorized; 25,239,507 and 25,336,054 shares issued, respectively 0.3 0.3
Additional paid-in capital 336.8 325.8
Retained earnings 2,922.3 2,345.9
Accumulated other comprehensive income (loss) (4.7) (156.2)
Treasury stock, at cost; 10,020,687 and 8,160,228 shares, respectively (1,040.5) (690.4)
TOTAL STOCKHOLDERS’ EQUITY 2,214.1 1,825.2
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 6,251.5 $ 5,749.4