CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
|
| REVENUE: | ||||
| TOTAL REVENUE | $ 4,384.6 | $ 4,373.1 | $ 8,497.6 | $ 8,521.6 |
| COST OF SALES: | ||||
| TOTAL COST OF SALES | 3,631.5 | 3,621.2 | 7,017.7 | 7,045.5 |
| GROSS PROFIT | 753.1 | 751.9 | 1,480.0 | 1,476.1 |
| OPERATING EXPENSES: | ||||
| Selling, general, and administrative | 506.4 | 475.5 | 1,016.8 | 931.8 |
| Depreciation and amortization | 23.1 | 19.0 | 45.6 | 38.2 |
| Asset impairments | 4.2 | 0.0 | 4.2 | 14.3 |
| INCOME FROM OPERATIONS | 219.5 | 257.4 | 413.4 | 491.7 |
| OTHER EXPENSES (INCOME): | ||||
| Floor plan interest expense | 21.6 | 18.1 | 42.7 | 38.8 |
| Other interest expense, net | 46.5 | 41.4 | 94.6 | 83.7 |
| Gain on dealership divestitures, net | 0.0 | (5.9) | (125.8) | (10.1) |
| Total other expenses, net | 68.1 | 53.6 | 11.5 | 112.5 |
| INCOME BEFORE INCOME TAXES | 151.3 | 203.8 | 401.9 | 379.2 |
| Income tax expense | 36.7 | 51.0 | 99.5 | 94.4 |
| NET INCOME | $ 114.6 | $ 152.8 | $ 302.4 | $ 284.9 |
| Basic— | ||||
| Net income (in dollars per share) | $ 6.26 | $ 7.77 | $ 16.22 | $ 14.50 |
| Diluted— | ||||
| Net income (in dollars per share) | $ 6.25 | $ 7.76 | $ 16.20 | $ 14.46 |
| WEIGHTED AVERAGE SHARES OUTSTANDING: | ||||
| Basic (in shares) | 18.3 | 19.7 | 18.6 | 19.6 |
| Diluted (in shares) | 18.3 | 19.7 | 18.7 | 19.7 |
| New vehicle | ||||
| REVENUE: | ||||
| TOTAL REVENUE | $ 2,330.2 | $ 2,303.9 | $ 4,431.0 | $ 4,442.0 |
| COST OF SALES: | ||||
| TOTAL COST OF SALES | 2,192.0 | 2,143.9 | 4,164.3 | 4,138.9 |
| Used vehicle | ||||
| REVENUE: | ||||
| TOTAL REVENUE | 1,236.0 | 1,285.8 | 2,442.3 | 2,521.6 |
| COST OF SALES: | ||||
| TOTAL COST OF SALES | 1,166.6 | 1,216.8 | 2,306.7 | 2,388.1 |
| Parts and service | ||||
| REVENUE: | ||||
| TOTAL REVENUE | 634.6 | 601.5 | 1,261.4 | 1,189.1 |
| COST OF SALES: | ||||
| TOTAL COST OF SALES | 260.4 | 246.7 | 522.1 | 491.6 |
| Finance and insurance, net | ||||
| REVENUE: | ||||
| TOTAL REVENUE | 183.8 | 182.0 | 362.9 | 368.9 |
| COST OF SALES: | ||||
| TOTAL COST OF SALES | $ 12.4 | $ 13.8 | $ 24.6 | $ 26.9 |
| Performance share units | ||||
| WEIGHTED AVERAGE SHARES OUTSTANDING: | ||||
| Incremental common shares (in shares) | 0.0 | 0.0 | 0.0 | 0.1 |
| X | ||||||||||
- Definition Interest expense incurred on vehicle floorplan payable trade and non-trade outstanding during the period. No definition available.
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| X | ||||||||||
- Definition Amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate cost of goods produced and sold and services rendered during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Amount of gain (loss) from sale and disposal of integrated set of activities and assets capable of being conducted and managed for purpose of providing return in form of dividend, lower cost, or other economic benefit to investor, owner, member and participant. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Additional shares included in the calculation of diluted EPS as a result of the potentially dilutive effect of contingently issuable shares. Contingently issuable shares are those shares that are issuable for little or no cash contingent on certain conditions being met. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of interest expense classified as other. No definition available.
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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- Definition The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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| X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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