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v3.25.3

SEGMENT INFORMATION (Tables) | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information | Reportable segment financial information for the three and nine months ended September 30, 2025 and 2024, are as follows:
| Three Months Ended September 30, 2025 |  | Three Months Ended September 30, 2024
| Dealerships |  | TCA |  | Total |  | Dealerships |  | TCA |  | Total
| (In millions)
Revenue from external customers | $ | 4,719.8 |  |  | $ | 81.1 |  |  | $ | 4,800.9 |  |  | $ | 4,159.7 |  |  | $ | 77.0 |  |  | $ | 4,236.7 |
Intersegment revenue | 66.4 |  |  | — |  |  | 66.4 |  |  | 57.6 |  |  | — |  |  | 57.6 |
| $ | 4,786.2 |  |  | $ | 81.1 |  |  | $ | 4,867.2 |  |  | $ | 4,217.3 |  |  | $ | 77.0 |  |  | $ | 4,294.3 |
Reconciliation of revenue |  |  |  |  |  |  |  |  |  |  |
Elimination of inter-segment revenue |  |  |  |  | (66.4) |  |  |  |  |  |  | (57.6) |
Total consolidated revenue |  |  |  |  | $ | 4,800.9 |  |  |  |  |  |  | $ | 4,236.7 |
Less: |  |  |  |  |  |  |  |  |  |  |
Cost of sales |  |  |  |  |  |  |  |  |  |  |
New vehicle | 2,367.9 |  |  | — |  |  |  |  | 2,013.1 |  |  | — |  |  |
Used vehicle | 1,347.0 |  |  | — |  |  |  |  | 1,235.3 |  |  | — |  |  |
Parts and service | 279.2 |  |  | — |  |  |  |  | 266.2 |  |  | — |  |  |
Finance and insurance | — |  |  | 59.6 |  |  |  |  | — |  |  | 57.5 |  |  |
Selling, general and administrative expenses |  |  |  |  |  |  |  |  |  |  |
Personnel costs | 339.0 |  |  | — |  |  |  |  | 307.7 |  |  | — |  |  |
Rent and related expenses | 39.5 |  |  | — |  |  |  |  | 37.2 |  |  | — |  |  |
Advertising | 18.7 |  |  | — |  |  |  |  | 16.0 |  |  | — |  |  |
Other selling, general and administrative expense | 133.1 |  |  | — |  |  |  |  | 108.4 |  |  | — |  |  |
Other segment items | — |  |  | 1.9 |  |  |  |  | — |  |  | 1.6 |  |  |
Depreciation and amortization | 21.2 |  |  | — |  |  |  |  | 18.8 |  |  | 0.1 |  |  |
Floor plan interest expense | 26.7 |  |  | — |  |  |  |  | 22.3 |  |  | — |  |  |
Segment operating income | $ | 213.9 |  |  | $ | 19.6 |  |  | $ | 233.5 |  |  | $ | 192.4 |  |  | $ | 17.8 |  |  | $ | 210.1 |
Reconciliation of segment operating income |  |  |  |  |  |  |  |  |  |  |
Intersegment eliminations |  |  |  |  |  |  |  |  |  |  |
Total intersegment revenue eliminations |  |  |  |  | (66.4) |  |  |  |  |  |  | (57.6) |
Total intersegment cost of sales eliminations |  |  |  |  | 55.3 |  |  |  |  |  |  | 53.4 |
Deferral of SG&A expense (related to capitalized contract costs offset by amortization) |  |  |  |  | 5.1 |  |  |  |  |  |  | 4.3 |
Total intersegment eliminations |  |  |  |  | (5.9) |  |  |  |  |  |  | 0.2 |
Asset impairments |  |  |  |  | (11.7) |  |  |  |  |  |  | — |
Other interest expense, net |  |  |  |  | (51.3) |  |  |  |  |  |  | (45.7) |
Gain on dealership divestitures, net |  |  |  |  | 35.7 |  |  |  |  |  |  | 5.0 |
Income before income taxes |  |  |  |  | $ | 200.2 |  |  |  |  |  |  | $ | 169.7 |
| Nine Months Ended September 30, 2025 |  | Nine Months Ended September 30, 2024
| Dealerships |  | TCA |  | Total |  | Dealerships |  | TCA |  | Total
| (In millions)
Revenue from external customers | $ | 13,077.8 |  |  | $ | 244.7 |  |  | $ | 13,322.5 |  |  | $ | 12,457.6 |  |  | $ | 226.5 |  |  | $ | 12,684.1 |
Intersegment revenue | 202.9 |  |  | — |  |  | 202.9 |  |  | 167.0 |  |  | — |  |  | 167.0 |
| $ | 13,280.7 |  |  | $ | 244.7 |  |  | $ | 13,525.4 |  |  | $ | 12,624.6 |  |  | $ | 226.5 |  |  | $ | 12,851.1 |
Reconciliation of revenue |  |  |  |  |  |  |  |  |  |  |
Elimination of inter-segment revenue |  |  |  |  | (202.9) |  |  |  |  |  |  | (167.0) |
Total consolidated revenue |  |  |  |  | $ | 13,322.5 |  |  |  |  |  |  | $ | 12,684.1 |
Less: |  |  |  |  |  |  |  |  |  |  |
Cost of sales |  |  |  |  |  |  |  |  |  |  |
New vehicle | 6,506.8 |  |  | — |  |  |  |  | 5,924.4 |  |  | — |  |  |
Used vehicle | 3,735.0 |  |  | — |  |  |  |  | 3,767.3 |  |  | — |  |  |
Parts and service | 790.4 |  |  | — |  |  |  |  | 782.9 |  |  | — |  |  |
Finance and insurance | — |  |  | 179.8 |  |  |  |  | — |  |  | 165.8 |  |  |
Selling, general and administrative expenses |  |  |  |  |  |  |  |  |  |  |
Personnel costs | 966.8 |  |  | — |  |  |  |  | 939.2 |  |  | — |  |  |
Rent and related expenses | 89.3 |  |  | — |  |  |  |  | 103.1 |  |  | — |  |  |
Advertising | 51.0 |  |  | — |  |  |  |  | 47.8 |  |  | — |  |  |
Other selling, general and administrative expense | 362.1 |  |  | — |  |  |  |  | 332.1 |  |  | — |  |  |
Other segment items | — |  |  | 5.5 |  |  |  |  | — |  |  | 5.1 |  |  |
Depreciation and amortization | 59.3 |  |  | 0.2 |  |  |  |  | 55.5 |  |  | 0.3 |  |  |
Floor plan interest expense | 65.6 |  |  | — |  |  |  |  | 66.1 |  |  | — |  |  |
Segment operating income | $ | 654.4 |  |  | $ | 59.2 |  |  | $ | 713.6 |  |  | $ | 606.2 |  |  | $ | 55.3 |  |  | $ | 661.5 |
Reconciliation of segment operating income |  |  |  |  |  |  |  |  |  |  |
Intersegment eliminations |  |  |  |  |  |  |  |  |  |  |
Total intersegment revenue eliminations |  |  |  |  | (202.9) |  |  |  |  |  |  | (167.0) |
Total intersegment cost of sales eliminations |  |  |  |  | 168.2 |  |  |  |  |  |  | 154.9 |
Deferral of SG&A expense (related to capitalized contract costs offset by amortization) |  |  |  |  | 15.9 |  |  |  |  |  |  | 15.7 |
Total intersegment eliminations |  |  |  |  | (18.9) |  |  |  |  |  |  | 3.7 |
Asset impairments |  |  |  |  | (26.0) |  |  |  |  |  |  | (135.4) |
Other interest expense, net |  |  |  |  | (135.0) |  |  |  |  |  |  | (134.9) |
Gain on dealership divestitures, net |  |  |  |  | 45.8 |  |  |  |  |  |  | 8.6 |
Income before income taxes |  |  |  |  | $ | 579.5 |  |  |  |  |  |  | $ | 403.6 |
Total assets by segment as of September 30, 2025 and December 31, 2024 are as follows:
| As of September 30, 2025
| Dealerships |  | TCA |  | Total Reportable Segments |  | Eliminations |  | Total Company
| (In millions)
Total assets | $ | 10,575.0 |  |  | $ | 1,020.2 |  |  | $ | 11,595.2 |  |  | $ | 178.3 |  |  | $ | 11,773.5 |
| As of December 31, 2024
| Dealerships |  | TCA |  | Total Reportable Segments |  | Eliminations |  | Total Company
| (In millions)
Total assets | $ | 9,227.6 |  |  | $ | 1,049.4 |  |  | $ | 10,277.0 |  |  | $ | 60.1 |  |  | $ | 10,337.0 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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