XML 15 R2.htm IDEA: XBRL DOCUMENT v3.25.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
CURRENT ASSETS:    
Cash and cash equivalents $ 30.8 $ 34.4
Contracts-in-transit and vehicle receivables, net 336.7 360.1
Accounts and notes receivable, net 311.0 303.0
Inventories 2,732.9 2,636.8
Prepaid expenses 63.0 67.9
Other current assets 25.0 18.8
Current assets classified as held for sale 50.6 76.2
TOTAL CURRENT ASSETS 3,550.1 3,497.3
Property and equipment, net of accumulated depreciation of $740.3 and $657.3, respectively 3,138.9 2,856.5
Operating lease assets 314.9 315.3
Goodwill 2,241.9 2,057.9
Intangible franchise rights 1,011.4 948.1
Other long-term assets 133.4 149.1
TOTAL ASSETS 10,390.6 9,824.2
CURRENT LIABILITIES:    
Floorplan notes payable — credit facility and other, net of offset account of $402.9 and $286.3, respectively 1,123.9 1,255.3
Floorplan notes payable — manufacturer affiliates, net of offset account of $— and $2.0, respectively 792.4 766.7
Current maturities of long-term debt 215.1 175.3
Current operating lease liabilities 26.9 25.8
Accounts payable 737.2 738.0
Accrued expenses and other current liabilities 438.4 418.6
Current liabilities classified as held for sale 1.2 17.1
TOTAL CURRENT LIABILITIES 3,335.2 3,396.8
Long-term debt 3,250.0 2,737.9
Long-term operating lease liabilities 272.4 276.2
Deferred income taxes 328.1 295.8
Other long-term liabilities 151.8 143.3
Commitments and Contingencies (Note 13)
STOCKHOLDERS’ EQUITY:    
Common stock, $0.01 par value, 50,000,000 shares authorized; 24,947,437 and 24,989,807 shares issued, respectively 0.2 0.2
Additional paid-in capital 382.4 356.1
Retained earnings 4,384.4 4,122.4
Accumulated other comprehensive income (loss) 34.9 1.6
Treasury stock, at cost; 12,176,278 and 11,711,022 shares, respectively (1,748.9) (1,506.2)
TOTAL STOCKHOLDERS’ EQUITY 3,053.1 2,974.3
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 10,390.6 $ 9,824.2