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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
CURRENT ASSETS:    
Cash and cash equivalents $ 70.5 $ 34.4
Contracts-in-transit and vehicle receivables, net 433.7 360.1
Accounts and notes receivable, net 316.7 303.0
Inventories 2,558.4 2,636.8
Prepaid expenses 56.6 67.9
Other current assets 23.5 18.8
Current assets classified as held for sale 49.4 76.2
TOTAL CURRENT ASSETS 3,508.8 3,497.3
Property and equipment, net of accumulated depreciation of $687.8 and $657.3, respectively 2,890.7 2,856.5
Operating lease assets 320.9 315.3
Goodwill 2,076.5 2,057.9
Intangible franchise rights 948.9 948.1
Other long-term assets 141.1 149.1
TOTAL ASSETS 9,887.0 9,824.2
CURRENT LIABILITIES:    
Floorplan notes payable — credit facility and other, net of offset account of $105.1 and $286.3, respectively 1,418.2 1,255.3
Floorplan notes payable — manufacturer affiliates, net of offset account of $— and $2.0, respectively 741.8 766.7
Current maturities of long-term debt 142.3 175.3
Current operating lease liabilities 26.0 25.8
Accounts payable 727.9 738.0
Accrued expenses and other current liabilities 432.3 418.6
Current liabilities classified as held for sale 15.3 17.1
TOTAL CURRENT LIABILITIES 3,503.9 3,396.8
Long-term debt 2,661.1 2,737.9
Long-term operating lease liabilities 278.8 276.2
Deferred income taxes 307.4 295.8
Other long-term liabilities 143.3 143.3
Commitments and Contingencies (Note 12)
STOCKHOLDERS’ EQUITY:    
Common stock, $0.01 par value, 50,000,000 shares authorized; 24,964,378 and 24,989,807 shares issued, respectively 0.2 0.2
Additional paid-in capital 360.3 356.1
Retained earnings 4,243.9 4,122.4
Accumulated other comprehensive income (loss) 15.4 1.6
Treasury stock, at cost; 11,932,681 and 11,711,022 shares, respectively (1,627.4) (1,506.2)
TOTAL STOCKHOLDERS’ EQUITY 2,992.5 2,974.3
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 9,887.0 $ 9,824.2