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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOW FROM OPERATING ACTIVITIES:    
Net income $ 301.5 $ 547.0
Adjustments to reconcile net income to net cash provided by operating activities—    
Depreciation and amortization 55.8 50.6
Share-based compensation 21.2 19.3
Deferred income taxes 0.1 2.2
Asset impairments 135.4 0.0
Gains on investments (0.6) (1.9)
Loaner vehicle amortization 35.8 23.8
Gain on divestitures (8.6) (13.5)
Change in right-of-use assets 21.4 20.5
Other adjustments, net 9.4 (1.7)
Changes in operating assets and liabilities, net of acquisitions and divestitures—    
Contracts-in-transit 75.8 43.6
Accounts receivable, net (31.0) (31.2)
Inventories (272.1) (284.2)
Other current assets, net (33.7) (101.5)
Floor plan notes payable—trade, net 112.1 7.9
Deferred revenue 27.1 13.0
Accounts payable and accrued liabilities 10.0 (24.1)
Operating lease liabilities (20.1) (20.7)
Other long-term assets and liabilities, net (12.4) (9.3)
Net cash provided by operating activities 427.0 239.8
CASH FLOW FROM INVESTING ACTIVITIES:    
Capital expenditures—excluding real estate (104.5) (76.5)
Capital expenditures—real estate (69.6) 0.0
Purchase of previously leased real estate (11.9) 0.0
Acquisitions (4.7) 0.0
Proceeds from dealership divestitures 196.3 30.7
Purchases of debt securities—available-for-sale (60.0) (164.9)
Proceeds from the sale of debt securities—available-for-sale 70.0 52.2
Proceeds from the sale of equity securities 0.0 51.8
Proceeds from the disposition of assets 2.2 16.3
Net cash provided by (used in) investing activities 17.8 (90.4)
CASH FLOW FROM FINANCING ACTIVITIES:    
Floor plan borrowings—non-trade 6,918.4 5,643.1
Floor plan repayments—non-trade (7,296.1) (5,645.9)
Floor plan repayments—non-trade—divestitures (34.1) 0.0
Repayments of borrowings (56.9) (108.8)
Proceeds from revolving credit facility 1,013.5 0.0
Repayments of revolving credit facility (782.8) 0.0
Purchases of treasury stock (182.1) (220.3)
Repurchases of common stock, associated with net share settlements of employee share-based awards (10.1) (11.2)
Net cash used in financing activities (430.2) (343.1)
Net increase (decrease) in cash and cash equivalents 14.6 (193.7)
CASH AND CASH EQUIVALENTS, beginning of period 45.7 235.3
CASH AND CASH EQUIVALENTS, end of period $ 60.3 $ 41.6