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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 281.6 $ 403.3
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 89.6 81.6
Change in operating lease assets 22.9 19.4
Deferred income taxes 20.9 7.7
Asset impairments 129.1 0.0
Stock-based compensation 22.5 20.0
Amortization of debt discount and issuance costs 4.0 2.8
Gain on disposition of assets (9.4) (56.2)
Unrealized loss (gain) on derivative instruments 1.1 0.7
Other (0.7) (0.5)
Changes in assets and liabilities, net of acquisitions and dispositions:    
Accounts payable and accrued expenses (24.5) 23.1
Accounts and notes receivable (1.9) (15.6)
Inventories 16.4 (318.8)
Contracts-in-transit and vehicle receivables 28.5 66.9
Prepaid expenses and other assets (2.1) (7.9)
Floorplan notes payable — manufacturer affiliates 10.4 169.0
Deferred revenues (0.9) (0.9)
Operating lease liabilities (22.3) (20.8)
Net cash provided by operating activities 565.3 373.7
CASH FLOWS FROM INVESTING ACTIVITIES:    
Cash paid for acquisitions, net, including repayment of sellers’ floorplan notes payable of $51.2 and $50.3, respectively (546.3) (1,252.5)
Proceeds from disposition of franchises, property and equipment 81.4 218.5
Purchases of property and equipment (192.2) (152.6)
Escrow payments for acquisitions (1.9) (32.1)
Other (0.2) 9.4
Net cash used in investing activities (659.1) (1,209.3)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings on credit facility — floorplan line and other 11,379.6 9,251.9
Repayments on credit facility — floorplan line and other (11,526.5) (8,976.6)
Borrowings on credit facility — acquisition line 1,349.9 1,092.2
Repayments on credit facility — acquisition line (734.6) (1,249.9)
Debt issuance costs (7.2) (10.8)
Borrowings of senior notes 0.0 500.0
Borrowings on other debt 66.2 485.5
Principal payments on other debt (186.3) (113.3)
Proceeds from employee stock purchase plan 23.5 18.7
Payments of tax withholding for stock-based compensation (10.8) (8.1)
Repurchases of common stock, amounts based on settlement date (249.8) (129.6)
Dividends paid (19.5) (19.0)
Net cash provided by financing activities 84.5 840.9
Effect of exchange rate changes on cash 5.7 (3.9)
Net (decrease) increase in cash and cash equivalents (3.6) 1.5
CASH AND CASH EQUIVALENTS, beginning of period 34.4 57.2
CASH AND CASH EQUIVALENTS, end of period $ 30.8 $ 58.7