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REVENUE RECOGNITION (Tables) | 9 Months Ended
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Sep. 30, 2024
Revenue from Contract with Customer [Abstract] |
Schedule of Disaggregation of Revenue | Revenue from contracts with customers for the three and nine months ended September 30, 2024 and 2023 consists of the following:
| For the Three Months Ended September 30,
| 2024 |  | 2023
| (In millions)
Revenue: |  |  |
New vehicle | $ | 2,163.5 |  |  | $ | 1,861.9 |
Used vehicle retail | 1,148.5 |  |  | 1,016.8 |
Used vehicle wholesale | 146.2 |  |  | 94.9 |
New and used vehicle | 3,458.2 |  |  | 2,973.6 |
Sale of vehicle parts and accessories | 129.2 |  |  | 125.1 |
Vehicle repair and maintenance services | 463.9 |  |  | 401.4 |
Parts and services | 593.1 |  |  | 526.5 |
Finance and insurance, net | 185.4 |  |  | 166.1 |
Total revenue | $ | 4,236.7 |  |  | $ | 3,666.2 |
| For the Nine Months Ended September 30,
| 2024 |  | 2023
| (In millions)
Revenue: |  |  |
New vehicle | $ | 6,392.6 |  |  | $ | 5,572.2 |
Used vehicle retail | 3,507.0 |  |  | 3,051.8 |
Used vehicle wholesale | 452.6 |  |  | 293.8 |
New and used vehicle | 10,352.3 |  |  | 8,917.8 |
Sale of vehicle parts and accessories | 388.2 |  |  | 375.0 |
Vehicle repair and maintenance services | 1,376.1 |  |  | 1,193.1 |
Parts and service | 1,764.3 |  |  | 1,568.2 |
Finance and insurance, net | 567.5 |  |  | 505.0 |
Total revenue | $ | 12,684.1 |  |  | $ | 10,991.0 |
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 |
Transferred to receivables from contract assets recognized at the beginning of the period | (19.7) |  |  | (1.4) |  |  | — |  |  | (21.1) |
Amortization of costs incurred to obtain a contract with a customer | — |  |  | — |  |  | (5.1) |  |  | (5.1) |
Costs incurred to obtain a contract with a customer | — |  |  | — |  |  | 10.0 |  |  | 10.0 |
Increases related to revenue recognized, inclusive of adjustments to constraint, during the period | 19.9 |  |  | 1.1 |  |  | — |  |  | 21.0 |
Balance as of September 30, 2024 | $ | 19.9 |  |  | $ | 13.0 |  |  | $ | 85.6 |  |  | $ | 118.5 |
Contract Assets (current), September 30, 2024 | $ | 19.9 |  |  | $ | 13.0 |  |  | $ | 23.0 |  |  | $ | 55.9 |
Contract Assets (long-term), September 30, 2024 | $ | — |  |  | $ | — |  |  | $ | 62.6 |  |  | $ | 62.6 |

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- 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
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- 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
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