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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
CASH FLOW FROM OPERATING ACTIVITIES:    
Net income $ 175.2 $ 377.7
Adjustments to reconcile net income to net cash provided by operating activities—    
Depreciation and amortization 36.9 33.5
Share-based compensation 16.2 14.1
Deferred income taxes (0.1) 2.2
Asset impairments 135.4 0.0
Gains on investments (0.3) (3.3)
Loaner vehicle amortization 23.9 13.4
Gain on divestitures (3.6) (13.5)
Change in right-of-use assets 14.3 12.4
Other adjustments, net 6.1 1.5
Changes in operating assets and liabilities, net of acquisitions and divestitures—    
Contracts-in-transit 69.5 53.6
Accounts receivable, net (9.5) (3.3)
Inventories (307.0) (242.6)
Other current assets, net (54.2) (69.1)
Floor plan notes payable—trade, net (92.3) (1.7)
Deferred revenue 22.7 0.2
Accounts payable and accrued liabilities 14.3 64.1
Operating lease liabilities (13.3) (12.9)
Other long-term assets and liabilities, net (11.4) (4.6)
Net cash provided by operating activities 22.7 221.7
CASH FLOW FROM INVESTING ACTIVITIES:    
Capital expenditures—excluding real estate (65.4) (40.8)
Capital expenditures—real estate (67.4) 0.0
Purchase of previously leased real estate (11.9) 0.0
Acquisitions (4.7) 0.0
Proceeds from dealership divestitures 149.3 30.7
Purchases of debt securities—available-for-sale (39.4) (124.2)
Proceeds from the sale of debt securities—available-for-sale 21.5 17.7
Proceeds from the sale of equity securities 0.0 51.8
Proceeds from the sale of assets 0.0 2.3
Net cash used in investing activities (18.0) (62.5)
CASH FLOW FROM FINANCING ACTIVITIES:    
Floor plan borrowings—non-trade 4,834.1 3,719.2
Floor plan repayments—non-trade (5,081.3) (3,722.0)
Floor plan repayments—non-trade—divestitures (26.1) 0.0
Repayments of borrowings (37.6) (82.8)
Proceeds from revolving credit facility 1,013.5 0.0
Repayments of revolving credit facility (582.8) 0.0
Purchases of treasury stock (93.2) (220.3)
Repurchases of common stock, associated with net share settlements of employee share-based awards (9.9) (11.0)
Net cash provided by (used in) financing activities 16.7 (316.9)
Net increase (decrease) in cash and cash equivalents 21.5 (157.8)
CASH AND CASH EQUIVALENTS, beginning of period 45.7 235.3
CASH AND CASH EQUIVALENTS, end of period $ 67.2 $ 77.5