XML 20 R8.htm IDEA: XBRL DOCUMENT v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH FLOW FROM OPERATING ACTIVITIES:    
Net income $ 132.1 $ 147.1
Adjustments to reconcile net income to net cash provided by operating activities—    
Depreciation and amortization 19.2 18.7
Share-based compensation 9.1 10.5
Asset impairments 14.3 0.0
Loaner vehicle amortization 12.7 11.8
Gain on divestitures, net (4.1) 0.0
Change in right-of-use asset 7.2 7.4
Other adjustments, net (0.9) 4.9
Changes in operating assets and liabilities, net of acquisitions and divestitures—    
Contracts-in-transit (0.1) 57.7
Accounts receivable 21.0 (1.1)
Inventories 125.8 (108.5)
Other current assets (21.6) 48.6
Floor plan notes payable—trade, net (88.1) 10.4
Deferred revenue 2.3 10.5
Accounts payable and accrued liabilities 1.2 (31.0)
Operating lease liabilities (7.2) (6.8)
Other long-term assets and liabilities, net 2.1 (3.1)
Net cash provided by operating activities 225.0 177.1
CASH FLOW FROM INVESTING ACTIVITIES:    
Capital expenditures—excluding real estate (21.4) (25.7)
Capital expenditures—real estate 0.0 (67.4)
Purchases of previously leased real estate 0.0 (11.9)
Proceeds from dealership divestitures 33.5 102.0
Purchases of debt securities—available-for-sale (58.6) (20.1)
Proceeds from the sale of debt securities—available-for-sale 46.0 9.5
Net cash used in investing activities (0.5) (13.6)
CASH FLOW FROM FINANCING ACTIVITIES:    
Floor plan borrowings—non-trade 2,135.3 2,532.8
Floor plan repayments—non-trade (2,261.1) (2,631.6)
Floor plan repayments—divestitures (17.4) (6.9)
Repayments of borrowings (13.6) (14.7)
Proceeds from revolving credit facility 302.7 582.8
Repayments of revolving credit facility (302.7) (582.8)
Purchases of treasury stock 0.0 (50.0)
Repurchases of common stock, associated with net share settlements of employee share-based awards (12.5) (9.8)
Net cash used in financing activities (169.3) (180.2)
Net increase (decrease) in cash and cash equivalents 55.2 (16.7)
CASH AND CASH EQUIVALENTS, beginning of period 69.4 45.7
CASH AND CASH EQUIVALENTS, end of period $ 124.6 $ 29.0