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FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 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 fixed rate long-term debt were as follows (in millions):

						December 31, 2024												December 31, 2023
						Carrying Value (1)						Fair Value						Carrying Value (1)						Fair Value
4.00% Senior Notes						$	750.0					$	701.5					$	750.0					$	697.5
6.375% Senior Notes						500.0						502.4						—						—
Real estate related						140.6						136.4						90.9						83.1
Total						$	1,390.6					$	1,340.4					$	840.9					$	780.6

(1) Carrying value excludes unamortized debt issuance costs.

Schedule of Asset and liabilities recorded at fair value

Assets associated with the Company’s interest rate swaps, as reflected gross in the Consolidated Balance Sheets, were as follows (in millions):

						December 31,
						2024						2023
Assets:
Other current assets						$	1.8					$	1.2
Other long-term assets (1)						77.5						88.1
Total assets						$	79.3					$	89.3

(1) As of December 31, 2024 and December 31, 2023, the balance included gross fair value of $3.4 million and $3.7 million, respectively, related to the de-designated swaps 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)
						Years Ended December 31,
Derivatives in Cash Flow Hedging Relationship						2024						2023						2022
Interest rate swaps						$	21.5					$	10.4					$	84.1
						Amount Reclassified from Other Comprehensive Income (Loss) into Statements of Operations
Statements of Operations Classification						Years Ended December 31,
						2024						2023						2022
Floorplan interest expense, net						$	20.6					$	15.4					$	0.8
Other interest expense, net						$	17.0					$	17.9					$	2.4

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