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v3.25.2

Floor Plan Financing | 6 Months Ended
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Jun. 30, 2025
Debt Disclosure [Abstract] |
Floor Plan Financing | Note 7: Long-Term Debt Debt obligations and associated interest rates consisted of the following:
(in $000s, except interest rate data) | June 30, 2025 |  | December 31, 2024 |  | June 30, 2025 |  | December 31, 2024
ABL Facility | $ | 670,475 |  |  | $ | 582,900 |  |  | 6.4% |  | 7.1%
2029 Secured Notes | 920,000 |  |  | 920,000 |  |  | 5.5% |  | 5.5%
2023 Credit Facility | 17,474 |  |  | 17,648 |  |  | 5.8% |  | 5.8%
Other notes payable | 22,753 |  |  | 27,102 |  |  | 3.1%-7.0% |  | 3.1%-7.0%
Total debt outstanding | 1,630,702 |  |  | 1,547,650 |  |  |  |  |
Deferred financing fees | (17,705) |  |  | (19,926) |  |  |  |  |
Total debt, net of deferred financing fees | 1,612,997 |  |  | 1,527,724 |  |  |  |  |
Less: current maturities | (23,114) |  |  | (7,842) |  |  |  |  |
Long-term debt | $ | 1,589,883 |  |  | $ | 1,519,882 |  |  |  |  |
As of June 30, 2025, borrowing availability under the ABL Facility was $275.7 million, and outstanding standby letters of credit were $3.9 million. ABL Facility The Company and certain of its direct and indirect subsidiaries are party to an asset-based revolving credit agreement (the “ABL Credit Agreement”), consisting of a $950.0 million first lien senior secured asset-based revolving credit facility (the “ABL Facility”), which matures on August 9, 2029, or, if earlier, the date that is 91 days prior to the maturity date of the Company’s existing senior notes or any debt that refinances such existing notes. Borrowings under the ABL Facility bear interest at a floating rate, which, at the Company’s election, could be (a) in the case of U.S. dollar denominated loans, either (i) SOFR plus an applicable margin or (ii) the base rate plus an applicable margin; or (b) in the case of Canadian dollar denominated loans, the term Canadian Overnight Repo Rate Average (the “CORRA” rate) plus an applicable margin. The applicable margin varies based on Average Availability (as defined in the ABL Credit Agreement) from (a) with respect to base rate loans, 0.50% to 1.00% and (b) with respect to SOFR loans and CORRA rate loans, 1.50% to 2.00%.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-6 Reference 2: 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