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FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)
 3 Months Ended
Mar. 31, 2023
Fair Value Disclosures [Abstract]  
Schedule of carrying value and fair value of the company’s fixed rate long-term debt
The carrying value and fair value of the Company’s 4.00% Senior Notes and fixed rate mortgages were as follows (in millions):
March 31, 2023December 31, 2022
Carrying Value (1)
Fair Value
Carrying Value (1)
Fair Value
4.00% Senior Notes
$750.0 $660.7 $750.0 $633.9 
Real estate related97.2 88.9 99.2 90.5 
Total$847.2 $749.6 $849.2 $724.4 
(1) Carrying value excludes unamortized debt issuance costs.
Asset and liabilities recorded at fair value Assets and liabilities associated with the Company’s interest rate swaps, as reflected gross in the Condensed Consolidated Balance Sheets, were as follows (in millions):
 March 31, 2023December 31, 2022
Assets:
Other current assets$0.1 $0.1 
Other long-term assets (1)
92.9 109.2 
Total assets$93.0 $109.3 
Liabilities:
Accrued expenses and other current liabilities$— $— 
Other long-term liabilities— — 
Total liabilities$— $— 
(1) As of March 31, 2023, the balance included gross fair value of $4.0 million of the de-designated swaps as described below.
Impact of interest rate derivative instruments The following tables present the impact of the Company’s interest rate swaps designated as cash flow hedges (in millions):
 Amount of Unrealized (Loss) Income, Net of Tax, Recognized in Other Comprehensive (Loss) Income
Three Months Ended March 31,
Derivatives in Cash Flow Hedging Relationship20232022
Interest rate swaps$(6.7)$34.0 
 Amount Reclassified from Other Comprehensive Income (Loss) into Statements of Operations
Statement of Operations ClassificationThree Months Ended March 31,
20232022
Floorplan interest expense$3.3 $(1.3)
Other interest expense, net$4.2 $(1.2)