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FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables) | 3 Months Ended
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Mar. 31, 2024
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, 2024 |  | December 31, 2023
|  | Carrying Value (1) |  | Fair Value |  | Carrying Value (1) |  | Fair Value
4.00% Senior Notes |  | $ | 750.0 |  |  | $ | 691.7 |  |  | $ | 750.0 |  |  | $ | 697.5 |
Real estate related |  | 129.2 |  |  | 116.6 |  |  | 90.9 |  |  | 83.1 |
Total |  | $ | 879.2 |  |  | $ | 808.3 |  |  | $ | 840.9 |  |  | $ | 780.6 |
(1) Carrying value excludes unamortized debt issuance costs.
Schedule of 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, 2024 |  | December 31, 2023
Assets: |  |  |  |
Other current assets (1) |  | $ | 1.8 |  |  | $ | 1.2 |
Other long-term assets (2) |  | 96.7 |  |  | 88.1 |
Total assets |  | $ | 98.5 |  |  | $ | 89.3 |
Liabilities: |  |  |  |
Accrued expenses and other current liabilities |  | $ | — |  |  | $ | — |
Other long-term liabilities |  | — |  |  | — |
Total liabilities |  | $ | — |  |  | $ | — |
(1) As of March 31, 2024, the balance included gross fair value of $0.2 million related to the de-designated swap as described below. (2) As of March 31, 2024 and December 31, 2023, the balance included gross fair value of $4.0 million and $3.7 million, respectively, related to the de-designated swap as described below.
Schedule of 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 Income (Loss), Net of Tax, Recognized in Other Comprehensive Income (Loss)
|  | Three Months Ended March 31, |  |
Derivatives in Cash Flow Hedging Relationship |  | 2024 |  | 2023 |  |  |  |
Interest rate swaps |  | $ | 14.3 |  |  | $ | (6.7) |  |  |  |  |
|  | Amount Reclassified from Other Comprehensive Income (Loss) into Statements of Operations
Statement of Operations Classification |  | Three Months Ended March 31, |  |
| 2024 |  | 2023 |  |  |  |
Floorplan interest expense |  | $ | 5.3 |  |  | $ | 3.3 |  |  |  |  |
Other interest expense, net |  | $ | 4.6 |  |  | $ | 4.2 |  |  |  |  |

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