XML 37 R26.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

REVENUE RECOGNITION (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2024
Revenue from Contract with Customer [Abstract] |
Schedule of Disaggregation of Revenue | Revenue from contracts with customers for the three and six months ended June 30, 2024 and 2023 consists of the following:
| For the Three Months Ended June 30,
| 2024 |  | 2023
| (In millions)
Revenue: |  |  |
New vehicle | $ | 2,164.9 |  |  | $ | 1,942.7 |
Used vehicle retail | 1,167.2 |  |  | 1,013.3 |
Used vehicle wholesale | 140.9 |  |  | 94.0 |
New and used vehicle | 3,472.9 |  |  | 3,050.0 |
Sale of vehicle parts and accessories | 125.2 |  |  | 123.9 |
Vehicle repair and maintenance services | 455.6 |  |  | 402.2 |
Parts and services | 580.9 |  |  | 526.1 |
Finance and insurance, net | 192.4 |  |  | 166.3 |
Total revenue | $ | 4,246.2 |  |  | $ | 3,742.5 |
| For the Six Months Ended June 30,
| 2024 |  | 2023
| (In millions)
Revenue: |  |  |
New vehicle | $ | 4,229.1 |  |  | $ | 3,710.4 |
Used vehicle retail | 2,358.5 |  |  | 2,034.9 |
Used vehicle wholesale | 306.4 |  |  | 198.9 |
New and used vehicle | 6,894.1 |  |  | 5,944.2 |
Sale of vehicle parts and accessories | 258.9 |  |  | 250.0 |
Vehicle repair and maintenance services | 912.3 |  |  | 791.7 |
Parts and service | 1,171.2 |  |  | 1,041.7 |
Finance and insurance, net | 382.1 |  |  | 338.9 |
Total revenue | $ | 8,447.4 |  |  | $ | 7,324.8 |
Schedule of Contract with Customer, Assets | Changes in contract assets during the period are reflected in the table below. Contract assets related to vehicle repair and maintenance services are transferred to receivables when a repair order is completed and invoiced to the customer. Certain incremental sales commissions payable to obtain an F&I revenue contract with a customer have been capitalized and are amortized using the same pattern of recognition applicable to the associated F&I revenue contract.
| Vehicle Repair and Maintenance Services |  | Finance and Insurance, net |  | Deferred Sales Commissions |  | Total
| (In millions)
Balance as of January 1, 2024 | $ | 20.5 |  |  | $ | 13.8 |  |  | $ | 68.4 |  |  | $ | 102.7 |
Transferred to receivables from contract assets recognized at the beginning of the period | (20.5) |  |  | (2.2) |  |  | — |  |  | (22.7) |
Amortization of costs to obtain a contract with a customer | — |  |  | — |  |  | (4.1) |  |  | (4.1) |
Costs incurred to obtain a contract with a customer | — |  |  | — |  |  | 10.6 |  |  | 10.6 |
Increases related to revenue recognized, inclusive of adjustments to constraint, during the period | 18.9 |  |  | 1.9 |  |  | — |  |  | 20.8 |
Balance as of March 31, 2024 | $ | 18.9 |  |  | $ | 13.5 |  |  | $ | 74.9 |  |  | $ | 107.3 |
Contract Assets (current), March 31, 2024 | 18.9 |  |  | 13.5 |  |  | 20.2 |  |  | 52.6 |
Contract Assets (long-term), March 31, 2024 | — |  |  | — |  |  | 54.7 |  |  | 54.7 |
Transferred to receivables from contract assets recognized at the beginning of the period | (18.9) |  |  | (2.6) |  |  | — |  |  | (21.5) |
Amortization of costs to obtain a contract with a customer | — |  |  | — |  |  | (4.6) |  |  | (4.6) |
Costs incurred to obtain a contract with a customer | — |  |  | — |  |  | 10.4 |  |  | 10.4 |
Increases related to revenue recognized, inclusive of adjustments to constraint, during the period | 19.7 |  |  | 2.4 |  |  | — |  |  | 22.1 |
Balance as of June 30, 2024 | $ | 19.7 |  |  | $ | 13.3 |  |  | $ | 80.7 |  |  | $ | 113.7 |
Contract Assets (current), June 30, 2024 | 19.7 |  |  | 13.3 |  |  | 21.7 |  |  | 54.7 |
Contract Assets (long-term), June 30, 2024 | — |  |  | — |  |  | 59.0 |  |  | 59.0 |

X
- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-10 + Details
Name: | us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-5 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration