INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense

The components of income tax expense from continuing operations are as follows: 

	For the Years Ended December 31,
	2019			2018		2017
	(In millions)
Current:
Federal	$	46.3		$	43.8	$	59.1
State	8.0			7.1		8.3
Total current income tax expense	54.3			50.9		67.4
Deferred:
Federal	5.5			3.9		1.2
State	(0.3		)	2.0		1.4
Total deferred income tax expense	5.2			5.9		2.6
Total income tax expense	$	59.5		$	56.8	$	70.0

Reconciliation of the Statutory Federal Rate to the Effective Rate

A reconciliation of the statutory federal rate to the effective tax rate from continuing operations is as follows (dollar amounts shown in millions):

	For the Years Ended December 31,
	2019			%	2018			%	2017			%
Income tax provision at the statutory rate	$	51.2		21.0	$	47.2		21.0	$	73.2		35.0
State income tax expense, net of federal benefit	7.8			3.2	8.7			3.9	6.4			3.0
Non-deductible / non-tax items	0.6			0.2	0.4			0.2	(0.3		)	(0.1	)
Effect of enactment of tax reform	—			—	0.6			0.2	(7.9		)	(3.8	)
Adjustments and settlements	—			—	—			—	(0.6		)	(0.3	)
Other, net	(0.1		)	—	(0.1		)	—	(0.8		)	(0.3	)
Income tax expense	$	59.5		24.4	$	56.8		25.3	$	70.0		33.5

Schedule of Deferred Tax Assets and Liabilities

Deferred income tax asset and liability components consisted of the following:

	As of December 31,
	2019			2018
	(In millions)
Deferred income tax assets:
F&I chargeback liabilities	$	11.8		$	11.0
Other accrued liabilities	2.1			3.2
Stock-based compensation	2.2			2.4
Operating lease right-of-use assets	18.7			—
Other, net	9.0			3.9
Total deferred income tax assets	43.8			20.5
Deferred income tax liabilities:
Intangible asset amortization	(16.4		)	(12.5		)
Depreciation	(33.4		)	(26.4		)
Operating lease liabilities	(17.7		)	—
Other, net	(2.3		)	(3.3		)
Total deferred income tax liabilities	(69.8		)	(42.2		)
Net deferred income tax liabilities	$	(26.0	)	$	(21.7	)