v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
CASH FLOW FROM OPERATING ACTIVITIES:    
Net income $ 302.4 $ 284.9
Adjustments to reconcile net income to net cash provided by operating activities—    
Depreciation and amortization 45.6 38.2
Share-based compensation 17.2 15.3
Asset impairments 4.2 14.3
Loaner vehicle amortization 33.6 24.0
Gain on divestitures, net (125.8) (10.1)
Change in right-of-use assets 15.0 14.4
Other adjustments, net 2.1 3.2
Changes in operating assets and liabilities, net of acquisitions and divestitures—    
Contracts-in-transit, net 59.7 50.1
Accounts receivable, net 36.4 26.7
Inventories, net 14.1 (2.0)
Other current assets (53.7) (90.1)
Floor plan notes payable—trade, net (42.4) (56.9)
Deferred revenue 34.2 30.1
Accounts payable and accrued liabilities 32.5 (2.8)
Operating lease liabilities (14.6) (14.2)
Other long-term assets and liabilities, net (7.8) (8.7)
Net cash provided by operating activities 352.6 316.4
CASH FLOW FROM INVESTING ACTIVITIES:    
Capital expenditures—excluding real estate (117.4) (59.5)
Capital expenditures—real estate (51.9) 0.0
Proceeds from dealership divestitures 361.5 222.3
Purchases of debt securities—available-for-sale (57.2) (97.9)
Proceeds from the sale of debt securities—available-for-sale 45.8 64.2
Proceeds from the disposition of assets 5.7 0.0
Net cash provided by investing activities 186.5 129.1
CASH FLOW FROM FINANCING ACTIVITIES:    
Floor plan borrowings—non-trade 4,814.9 4,510.4
Floor plan repayments—non-trade (4,882.2) (4,817.8)
Floor plan repayments—divestitures (77.8) (41.8)
Repayments of borrowings (66.6) (98.2)
Proceeds from revolving credit facility 850.0 602.7
Repayments of revolving credit facility (900.0) (602.7)
Purchases of treasury stock (277.6) 0.0
Repurchases of common stock, associated with net share settlements of employee share-based awards (9.9) (12.7)
Net cash used in financing activities (549.2) (460.1)
Net decrease in cash and cash equivalents (10.0) (14.6)
CASH AND CASH EQUIVALENTS, beginning of period 40.4 69.4
CASH AND CASH EQUIVALENTS, end of period $ 30.4 $ 54.8