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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 498.1 $ 601.6 $ 751.5
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 113.1 92.0 89.3
Change in operating lease assets 27.2 25.3 29.5
Deferred income taxes 23.6 18.7 28.0
Asset impairments 34.8 32.9 8.5
Stock-based compensation 25.2 20.1 27.0
Amortization of debt discount and issue costs 4.0 3.0 3.0
Gain on disposition of assets (59.5) (23.3) (41.1)
Unrealized gain on derivative instruments 0.3 (3.7) 0.0
Other (0.1) (2.7) 0.5
Changes in assets and liabilities, net of acquisitions and dispositions:      
Accounts payable and accrued expenses 90.7 39.2 66.5
Accounts and notes receivable (32.9) (37.4) (17.4)
Inventories (254.4) (567.6) (282.1)
Contracts-in-transit and vehicle receivables 38.7 (88.1) (55.4)
Prepaid expenses and other assets (18.1) (21.2) 0.4
Floorplan notes payable — manufacturer affiliates 119.6 126.7 7.5
Deferred revenues (1.3) (0.9) (0.4)
Operating lease liabilities (22.9) (24.4) (29.4)
Net cash provided by operating activities 586.3 190.2 585.9
CASH FLOWS FROM INVESTING ACTIVITIES:      
Cash paid for acquisitions, net, including repayment of sellers’ floorplan notes payable of $50.3, $66.3 and $25.3, respectively (1,276.8) (366.1) (528.7)
Proceeds from disposition of franchises, property and equipment 229.7 193.8 141.4
Purchases of property and equipment (245.1) (185.4) (155.5)
Proceeds from sale of discontinued operations, net 0.0 0.0 59.4
Other 9.6 (8.3) (1.3)
Net cash used in investing activities (1,282.6) (366.1) (484.6)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Borrowings on credit facility — floorplan line and other 12,593.0 11,366.2 10,236.1
Repayments on credit facility — floorplan line and other (12,490.9) (10,940.4) (9,766.5)
Borrowings on credit facility — acquisition line 1,325.3 200.0 406.6
Repayments on credit facility — acquisition line (1,553.1) (178.2) (429.6)
Debt issuance costs (10.8) (0.3) (4.6)
Borrowings of senior notes 500.0 0.0 0.0
Borrowings on other debt 706.4 150.2 315.5
Principal payments on other debt (193.3) (223.6) (286.4)
Proceeds from employee stock purchase plan 24.4 21.3 19.5
Payments of tax withholding for stock-based compensation (33.0) (12.1) (11.8)
Repurchases of common stock, amounts based on settlement date (161.6) (172.8) (521.2)
Dividends paid (25.2) (25.2) (23.7)
Other 0.0 0.0 (1.2)
Net cash provided by (used in) financing activities 681.1 185.2 (67.3)
Effect of exchange rate changes on cash (7.6) 0.1 (4.8)
Net (decrease) increase in cash and cash equivalents (22.8) 9.4 29.2
CASH AND CASH EQUIVALENTS, beginning of period 57.2 47.9 18.7
CASH AND CASH EQUIVALENTS, end of period $ 34.4 $ 57.2 $ 47.9