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FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2025

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):

						March 31, 2025												December 31, 2024
						Carrying Value (1)						Fair Value						Carrying Value (1)						Fair Value
4.00% Senior Notes						$	750.0					$	707.1					$	750.0					$	701.5
6.375% Senior Notes						500.0						502.0						500.0						502.4
Real estate related						138.2						137.1						140.6						136.4
Total						$	1,388.2					$	1,346.2					$	1,390.6					$	1,340.4

(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 Condensed Consolidated Balance Sheets, were as follows (in millions):

						March 31, 2025						December 31, 2024
Assets:
Other current assets						$	1.3					$	1.8
Other long-term assets (1)						64.3						77.5
Total assets						$	65.5					$	79.3

(1) As of March 31, 2025 and December 31, 2024, the balance included gross fair value of $2.9 million and $3.4 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)
						Three Months Ended March 31,
Derivatives in Cash Flow Hedging Relationship						2025						2024
Interest rate swaps						$	(4.9)					$	14.3
						Amount Reclassified from Other Comprehensive Income (Loss) into Statements of Operations
Statement of Operations Classification						Three Months Ended March 31,
						2025						2024
Floorplan interest expense						$	4.0					$	5.3
Other interest expense, net						$	2.9					$	4.6

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