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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
CURRENT ASSETS:    
Cash and cash equivalents $ 47.9 $ 14.9
Contracts-in-transit and vehicle receivables, net 278.5 218.9
Accounts and notes receivables, net 199.2 177.9
Inventories 1,356.6 1,073.1
Prepaid expenses 30.5 30.6
Other current assets 19.1 50.4
Current assets classified as held for sale 53.6 100.3
TOTAL CURRENT ASSETS 1,985.3 1,666.2
Property and equipment, net 2,128.2 1,957.8
Operating lease assets 249.1 267.8
Goodwill 1,661.8 1,420.2
Intangible franchise rights 516.3 392.3
Other long-term assets 176.8 45.0
TOTAL ASSETS 6,717.5 5,749.4
CURRENT LIABILITIES:    
Floorplan notes payable — credit facility and other, net of offset account of $140.2 and $268.6, respectively 762.1 295.0
Floorplan notes payable — manufacturer affiliates, net of offset account of $13.4 and $3.3, respectively 243.1 236.0
Current maturities of long-term debt 130.3 220.4
Current operating lease liabilities 21.8 25.9
Accounts payable 488.0 457.8
Accrued expenses and other current liabilities 271.5 258.6
Current liabilities classified as held for sale 4.8 49.9
TOTAL CURRENT LIABILITIES 1,921.4 1,543.6
Long-term debt 1,952.2 1,815.3
Long-term operating lease liabilities 238.4 256.6
Deferred income taxes 238.1 180.9
Other long-term liabilities 129.8 127.7
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; 25,232,620 and 25,336,054 issued, respectively 0.3 0.3
Additional paid-in capital 338.7 325.8
Retained earnings 3,073.6 2,345.9
Accumulated other comprehensive income (loss) 22.5 (156.2)
Treasury stock, at cost; 10,940,298 and 8,160,228 shares, respectively (1,197.5) (690.4)
TOTAL STOCKHOLDERS’ EQUITY 2,237.5 1,825.2
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 6,717.5 $ 5,749.4