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REVENUE RECOGNITION | 9 Months Ended
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Sep. 30, 2025
Revenue from Contract with Customer [Abstract] |
REVENUE RECOGNITION | REVENUE RECOGNITION Disaggregation of Revenue Revenue from contracts with customers consists of the following:
| For the Three Months Ended September 30,
| 2025 |  | 2024
| (In millions)
Revenue: |  |  |
New vehicle | $ | 2,528.9 |  |  | $ | 2,163.5 |
Used vehicle retail | 1,226.8 |  |  | 1,148.5 |
Used vehicle wholesale | 185.5 |  |  | 146.2 |
New and used vehicle | 3,941.1 |  |  | 3,458.2 |
Sale of vehicle parts and accessories | 132.0 |  |  | 129.2 |
Vehicle repair and maintenance services | 527.4 |  |  | 463.9 |
Parts and services | 659.4 |  |  | 593.1 |
Finance and insurance, net | 200.3 |  |  | 185.4 |
Total revenue | $ | 4,800.9 |  |  | $ | 4,236.7 |
| For the Nine Months Ended September 30,
| 2025 |  | 2024
| (In millions)
Revenue: |  |  |
New vehicle | $ | 6,970.9 |  |  | $ | 6,392.6 |
Used vehicle retail | 3,435.1 |  |  | 3,507.0 |
Used vehicle wholesale | 498.7 |  |  | 452.6 |
New and used vehicle | 10,904.7 |  |  | 10,352.3 |
Sale of vehicle parts and accessories | 382.0 |  |  | 388.2 |
Vehicle repair and maintenance services | 1,466.5 |  |  | 1,376.1 |
Parts and service | 1,848.5 |  |  | 1,764.3 |
Finance and insurance, net | 569.3 |  |  | 567.5 |
Total revenue | $ | 13,322.5 |  |  | $ | 12,684.1 |
Contract 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)
Contract Assets, January 1, 2025 | $ | 17.8 |  |  | $ | 12.8 |  |  | $ | 90.1 |  |  | $ | 120.7 |
Transferred to receivables from contract assets recognized at the beginning of the period | (17.8) |  |  | (1.9) |  |  | — |  |  | (19.7) |
Amortization of costs incurred to obtain a contract with a customer | — |  |  | — |  |  | (7.2) |  |  | (7.2) |
Costs incurred to obtain a contract with a customer | — |  |  | — |  |  | 11.0 |  |  | 11.0 |
Increases related to revenue recognized, inclusive of adjustments to constraint, during the period | 17.5 |  |  | 1.6 |  |  | — |  |  | 19.1 |
Contract Assets, March 31, 2025 | $ | 17.5 |  |  | $ | 12.5 |  |  | $ | 93.9 |  |  | $ | 123.9 |
Contract Assets (current), March 31, 2025 | $ | 17.5 |  |  | $ | 12.5 |  |  | $ | 25.3 |  |  | $ | 55.3 |
Contract Assets (long-term), March 31, 2025 | $ | — |  |  | $ | — |  |  | $ | 68.6 |  |  | $ | 68.6 |
Transferred to receivables from contract assets recognized at the beginning of the period | (17.5) |  |  | (1.8) |  |  | — |  |  | (19.2) |
Amortization of costs to obtain a contract with a customer | — |  |  | — |  |  | (6.8) |  |  | (6.8) |
Costs incurred to obtain a contract with a customer | — |  |  | — |  |  | 14.3 |  |  | 14.3 |
Increases related to revenue recognized, inclusive of adjustments to constraint, during the period | 18.3 |  |  | 1.5 |  |  | — |  |  | 19.8 |
Contract Assets, June 30, 2025 | $ | 18.3 |  |  | $ | 12.3 |  |  | $ | 101.5 |  |  | $ | 132.1 |
Contract Assets (current), June 30, 2025 | $ | 18.3 |  |  | $ | 12.3 |  |  | $ | 27.4 |  |  | $ | 58.0 |
Contract Assets (long-term), June 30, 2025 | $ | — |  |  | $ | — |  |  | $ | 74.0 |  |  | $ | 74.0 |
Transferred to receivables from contract assets recognized at the beginning of the period | (18.3) |  |  | (1.5) |  |  | — |  |  | (19.9) |
Amortization of costs to obtain a contract with a customer | — |  |  | — |  |  | (7.4) |  |  | (7.4) |
Costs incurred to obtain a contract with a customer | — |  |  | — |  |  | 12.8 |  |  | 12.8 |
Increases related to revenue recognized, inclusive of adjustments to constraint, during the period | 22.8 |  |  | 1.3 |  |  | — |  |  | 24.1 |
Contract Assets, September 30, 2025 | $ | 22.8 |  |  | $ | 12.0 |  |  | $ | 106.9 |  |  | $ | 141.7 |
Contract Assets (current), September 30, 2025 | $ | 22.8 |  |  | $ | 12.0 |  |  | $ | 29.0 |  |  | $ | 63.8 |
Contract Assets (long-term), September 30, 2025 | $ | — |  |  | $ | — |  |  | $ | 77.9 |  |  | $ | 77.9 |
Deferred Revenue The condensed consolidated balance sheet reflects $812.1 million and $766.0 million of deferred revenue as of September 30, 2025 and December 31, 2024, respectively. Approximately $200.0 million of deferred revenue at December 31, 2024 was recorded in finance and insurance, net revenue in the condensed consolidated statements of income during the nine months ended September 30, 2025.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-7 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -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 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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