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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
CURRENT ASSETS:    
Cash and cash equivalents $ 52.9 $ 47.9
Contracts-in-transit and vehicle receivables, net 299.7 278.5
Accounts and notes receivable, net 223.5 199.2
Inventories 1,722.3 1,356.6
Prepaid expenses 24.6 30.5
Other current assets 15.4 19.1
Current assets classified as held for sale 36.5 53.6
TOTAL CURRENT ASSETS 2,375.1 1,985.3
Property and equipment, net of accumulated depreciation of $579.5 and $554.4, respectively 2,224.9 2,128.2
Operating lease assets 226.7 249.1
Goodwill 1,695.9 1,661.8
Intangible franchise rights 719.8 516.3
Other long-term assets 197.2 176.8
TOTAL ASSETS 7,439.6 6,717.5
CURRENT LIABILITIES:    
Floorplan notes payable — credit facility and other, net of offset account of $191.7 and $140.2, respectively 889.0 762.1
Floorplan notes payable — manufacturer affiliates, net of offset account of $19.0 and $13.4, respectively 353.3 243.1
Current maturities of long-term debt 75.7 130.3
Current operating lease liabilities 21.4 21.8
Accounts payable 533.4 488.0
Accrued expenses and other current liabilities 301.8 271.5
Current liabilities classified as held for sale 0.0 4.8
TOTAL CURRENT LIABILITIES 2,174.6 1,921.4
Long-term debt 2,042.5 1,952.2
Long-term operating lease liabilities 218.5 238.4
Deferred income taxes 254.9 238.1
Other long-term liabilities 137.7 129.8
Commitments and Contingencies (Note 12)
STOCKHOLDERS’ EQUITY:    
Common stock, $0.01 par value, 50,000,000 shares authorized; 25,149,866 and 25,232,620 shares issued, respectively 0.3 0.3
Additional paid-in capital 345.8 338.7
Retained earnings 3,547.2 3,073.6
Accumulated other comprehensive income 31.6 22.5
Treasury stock, at cost; 11,326,664 and 10,940,298 shares, respectively (1,313.5) (1,197.5)
TOTAL STOCKHOLDERS’ EQUITY 2,611.4 2,237.5
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 7,439.6 $ 6,717.5