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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 128.1 $ 147.9
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 29.3 23.8
Change in operating lease assets 7.4 5.8
Deferred income taxes 8.8 0.6
Asset impairments 1.5 0.0
Stock-based compensation 7.6 7.6
Amortization of debt discount and issuance costs 1.2 0.8
Gain on disposition of assets (8.5) (34.3)
Unrealized loss (gain) on derivative instruments 0.5 (0.5)
Other (0.4) (0.5)
Changes in assets and liabilities, net of acquisitions and dispositions:    
Accounts payable and accrued expenses (8.2) 107.1
Accounts and notes receivable (13.0) (21.7)
Inventories 108.0 (74.8)
Contracts-in-transit and vehicle receivables (71.8) 26.8
Prepaid expenses and other assets 8.7 16.4
Floorplan notes payable — manufacturer affiliates (32.1) 55.9
Deferred revenues (0.3) (0.3)
Operating lease liabilities (8.1) (6.7)
Net cash provided by operating activities 158.7 253.9
CASH FLOWS FROM INVESTING ACTIVITIES:    
Cash paid for acquisitions, net, including repayment of sellers’ floorplan notes payable of $— and $50.3, respectively (15.1) (689.7)
Proceeds from disposition of franchises, property and equipment 30.7 125.2
Purchases of property and equipment (52.2) (63.2)
Escrow payments for acquisitions (4.5) 0.0
Other 0.0 9.5
Net cash used in investing activities (41.0) (618.2)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings on credit facility — floorplan line and other 3,410.2 3,313.7
Repayments on credit facility — floorplan line and other (3,253.7) (3,304.1)
Borrowings on credit facility — acquisition line 399.9 320.0
Repayments on credit facility — acquisition line (454.6) (98.0)
Debt issuance costs (0.5) (1.6)
Borrowings on other debt 12.7 207.2
Principal payments on other debt (67.1) (28.6)
Proceeds from employee stock purchase plan 7.6 6.5
Payments of tax withholding for stock-based compensation (8.8) (5.6)
Repurchases of common stock, amounts based on settlement date (122.8) (53.8)
Dividends paid (6.6) (6.4)
Net cash (used in) provided by financing activities (83.6) 349.4
Effect of exchange rate changes on cash 2.0 (0.3)
Net increase (decrease) in cash and cash equivalents 36.1 (15.3)
CASH AND CASH EQUIVALENTS, beginning of period 34.4 57.2
CASH AND CASH EQUIVALENTS, end of period $ 70.5 $ 41.9