v3.25.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
CURRENT ASSETS:    
Cash and cash equivalents $ 52.7 $ 34.4
Contracts-in-transit and vehicle receivables, net 351.3 360.1
Accounts and notes receivable, net 295.6 303.0
Inventories 2,658.2 2,636.8
Prepaid expenses 52.9 67.9
Other current assets 23.0 18.8
Current assets classified as held for sale 0.0 76.2
TOTAL CURRENT ASSETS 3,433.7 3,497.3
Property and equipment, net of accumulated depreciation of $720.3 and $657.3, respectively 3,051.4 2,856.5
Operating lease assets 324.0 315.3
Goodwill 2,268.8 2,057.9
Intangible franchise rights 1,015.8 948.1
Other long-term assets 136.2 149.1
TOTAL ASSETS 10,229.9 9,824.2
CURRENT LIABILITIES:    
Floorplan notes payable — credit facility and other, net of offset account of $321.0 and $286.3, respectively 1,191.2 1,255.3
Floorplan notes payable — manufacturer affiliates, net of offset account of $— and $2.0, respectively 753.8 766.7
Current maturities of long-term debt 159.3 175.3
Current operating lease liabilities 27.6 25.8
Accounts payable 733.1 738.0
Accrued expenses and other current liabilities 414.4 418.6
Current liabilities classified as held for sale 0.0 17.1
TOTAL CURRENT LIABILITIES 3,279.3 3,396.8
Long-term debt 3,056.5 2,737.9
Long-term operating lease liabilities 280.0 276.2
Deferred income taxes 332.3 295.8
Other long-term liabilities 145.8 143.3
Commitments and Contingencies (Note 12)
STOCKHOLDERS’ EQUITY:    
Common stock, $0.01 par value, 50,000,000 shares authorized; 24,954,226 and 24,989,807 shares issued, respectively 0.2 0.2
Additional paid-in capital 372.0 356.1
Retained earnings 4,377.9 4,122.4
Accumulated other comprehensive income (loss) 54.4 1.6
Treasury stock, at cost; 12,014,561 and 11,711,022 shares, respectively (1,668.6) (1,506.2)
TOTAL STOCKHOLDERS’ EQUITY 3,136.0 2,974.3
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 10,229.9 $ 9,824.2