Financial Instruments and Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2019

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 at the dates indicated (in millions):

	December 31, 2019				December 31, 2018
	Carrying Value(1)		Fair Value		Carrying Value(1)		Fair Value
5.00% Senior Notes	$	546.4	$	559.5	$	545.0	$	521.6
5.25% Senior Notes	298.0		309.7		297.5		286.5
Real estate related	40.7		41.1		79.7		76.2
Total	$	885.1	$	910.3	$	922.2	$	884.3

(1)Carrying value includes unamortized discount and excludes debt issuance costs

Asset and liabilities recorded at fair value

Assets and liabilities associated with the Company’s interest rate swaps as reflected in the Consolidated Balance Sheets were as follows (in millions):

	December 31,
	2019		2018
Assets from interest rate risk management activities:
Other current assets	$	—	$	0.4
Other long-term assets	1.9		13.1
Total	$	1.9	$	13.5
Liabilities from interest rate risk management activities:
Accrued expenses and other current liabilities	$	2.8	$	0.1
Other liabilities	4.4		1.7
Total	$	7.2	$	1.8

Impact of interest rate derivative instruments

The following tables present the impact of the Company’s interest rate swaps (in millions):

	Amount of Unrealized Income (Loss), Net of Tax, Recognized in Other Comprehensive Income (Loss)
	Years Ended December 31,
Derivatives in Cash Flow Hedging Relationship	2019			2018			2017
Interest rate swaps	$	(13.3	)	$	6.5		$	1.0
	Amount of Income (Loss) Reclassified from Other Comprehensive Income (Loss) into Statements of Operations
Location of Income (Loss) Reclassified from Other Comprehensive Income (Loss) into Statements of Operations	Years Ended December 31,
	2019			2018			2017
Floorplan interest expense, net	$	(0.4	)	$	(4.7	)	$	(10.3	)
Other interest expense, net	$	0.1		$	(0.5	)	$	(1.9	)