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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 751.5 $ 552.1 $ 286.5
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization expense 89.3 78.9 75.8
Change in operating lease assets 29.5 25.0 24.0
Deferred income taxes 28.0 31.0 (0.9)
Asset impairments 8.5 79.2 37.7
Stock-based compensation 27.0 28.3 32.3
Amortization of debt discount and issue costs 3.0 2.5 3.2
Gain on disposition of assets (41.1) (6.0) (5.8)
Loss on extinguishment of debt 0.0 3.8 13.7
Other 0.5 2.6 2.2
Changes in assets and liabilities, net of acquisitions and dispositions:      
Accounts payable and accrued expenses 66.5 48.1 (45.9)
Accounts and notes receivable (17.4) 11.2 21.2
Inventories (282.1) 529.8 416.1
Contracts-in-transit and vehicle receivables (55.4) (6.4) 43.5
Prepaid expenses and other assets 0.4 (2.1) 56.9
Floorplan notes payable — manufacturer affiliates 7.5 (90.7) (132.2)
Deferred revenues (0.4) (1.5) (0.5)
Operating lease liabilities (29.4) (25.9) (22.3)
Net cash provided by operating activities 585.9 1,259.6 805.4
CASH FLOWS FROM INVESTING ACTIVITIES:      
Cash paid for acquisitions, net, including repayment of sellers’ floorplan notes payable of $25.3, $65.2 and $—, respectively (528.7) (1,099.6) (1.3)
Proceeds from disposition of franchises, property and equipment 141.4 24.8 29.8
Purchases of property and equipment (155.5) (143.6) (103.2)
Proceeds from sale of discontinued operations, net 59.4 0.0 0.0
Other (1.3) (33.3) 0.0
Net cash used in investing activities (484.6) (1,251.7) (74.7)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Borrowings on credit facility — floorplan line and other 10,236.1 8,333.2 9,998.1
Repayments on credit facility — floorplan line and other (9,766.5) (8,801.8) (10,374.0)
Borrowings on credit facility — acquisition line 406.6 349.3 284.0
Repayments on credit facility — acquisition line (429.6) (66.6) (309.5)
Debt issuance costs (4.6) (2.8) (9.0)
Borrowings of senior notes 0.0 200.0 550.0
Repayments of senior notes 0.0 0.0 (857.9)
Borrowings on other debt 315.5 334.3 271.9
Principal payments on other debt (286.4) (187.3) (134.0)
Proceeds from employee stock purchase plan 19.5 15.2 9.6
Payments of tax withholding for stock-based compensation (11.8) (13.0) (6.2)
Repurchases of common stock, amounts based on settlement date (521.2) (210.6) (80.2)
Dividends paid (23.7) (23.9) (11.0)
Other (1.2) 0.0 0.0
Net cash used in financing activities (67.3) (74.0) (668.1)
Effect of exchange rate changes on cash (4.8) (2.5) (3.4)
Net increase (decrease) in cash and cash equivalents 29.2 (68.6) 59.2
CASH AND CASH EQUIVALENTS, beginning of period 18.7 87.3 28.1
CASH AND CASH EQUIVALENTS, end of period $ 47.9 $ 18.7 $ 87.3