v3.25.2
FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)
 6 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Schedule of Carrying Value and Fair Value of The Company’s Fixed Rate Long-term Debt
The carrying value and fair value of the Company’s fixed rate long-term debt were as follows (in millions):
June 30, 2025December 31, 2024
Carrying Value (1)
Fair Value
Carrying Value (1)
Fair Value
4.00% Senior Notes
$750.0 $725.8 $750.0 $701.5 
6.375% Senior Notes
500.0 515.2 500.0 502.4 
Real estate related129.1 127.1 140.6 136.4 
Total$1,379.1 $1,368.1 $1,390.6 $1,340.4 
(1) Carrying value excludes unamortized debt issuance costs.
Schedule of Asset and Liabilities Recorded at Fair Value
Assets associated with the Company’s interest rate swaps, as reflected gross in the Condensed Consolidated Balance Sheets, were as follows (in millions):
 June 30, 2025December 31, 2024
Assets:
Other current assets$3.5 $1.8 
Other long-term assets (1)
52.6 77.5 
Total assets$56.1 $79.3 
(1) As of June 30, 2025 and December 31, 2024, the balance included gross fair value of $2.5 million and $3.4 million, respectively, related to the de-designated swaps as described below.
Schedule of Impact of Interest Rate Derivative Instruments
The following tables present the impact of the Company’s interest rate swaps designated as cash flow hedges (in millions):
 Amount of Unrealized Income (Loss), Net of Tax, Recognized in Other Comprehensive Income (Loss)
Three Months Ended June 30,Six Months Ended June 30,
Derivatives in Cash Flow Hedging Relationship2025202420252024
Interest rate swaps$(1.8)$5.3 $(6.7)$19.6 
 Amount Reclassified from Other Comprehensive Income (Loss) into Statements of Operations
Statement of Operations ClassificationThree Months Ended June 30,Six Months Ended June 30,
2025202420252024
Floorplan interest expense$4.0 $5.3 $8.0 $10.6 
Other interest expense, net$2.7 $4.4 $5.6 $9.0