XML 26 R2.htm IDEA: XBRL DOCUMENT v3.20.1
Unaudited Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2020
Dec. 31, 2019
ASSETS    
Cash and cash equivalents $ 411.0 $ 42.0
Receivables, net 512.9 916.7
Inventory 3,677.0 3,305.8
Other current assets 147.7 146.6
Total Current Assets 4,748.6 4,411.1
PROPERTY AND EQUIPMENT, net of accumulated depreciation of $1.5 billion and $1.5 billion, respectively 3,164.9 3,174.6
OPERATING LEASE ASSETS 333.5 333.1
GOODWILL [1] 1,183.6 [2] 1,501.9
OTHER INTANGIBLE ASSETS, NET 522.3 581.6
OTHER ASSETS 599.5 541.0
Total Assets 10,552.4 10,543.3
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Vehicle floorplan payable 3,682.5 3,575.8
Accounts payable 225.5 290.3
Commercial paper 140.0 170.0
Current maturities of long-term debt 305.6 355.6
Other current liabilities 642.2 708.5
Total Current Liabilities 4,995.8 5,100.2
LONG-TERM DEBT, NET OF CURRENT MATURITIES 2,076.4 1,578.5
NONCURRENT OPERATING LEASE LIABILITIES 306.7 305.0
Deferred Income Tax Liabilities, Net 66.5 135.1
OTHER LIABILITIES 260.1 262.4
COMMITMENTS AND CONTINGENCIES (Note 12)
SHAREHOLDERS’ EQUITY:    
Preferred stock, par value $0.01 per share; 5,000,000 shares authorized; none issued 0.0 0.0
Common stock, par value $0.01 per share; 1,500,000,000 shares authorized; 102,562,149 shares issued at March 31, 2020, and December 31, 2019, including shares held in treasury 1.0 1.0
Additional paid-in capital 18.7 35.9
Retained earnings 3,455.5 3,688.3
Treasury stock, at cost; 15,352,097 and 13,212,974 shares held, respectively (628.3) (563.1)
Total Shareholders’ Equity 2,846.9 3,162.1
Total Liabilities and Shareholders’ Equity 10,552.4 10,543.3
Trade [Member]    
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Vehicle floorplan payable 2,197.2 2,120.6
Non-Trade [Member]    
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Vehicle floorplan payable $ 1,485.3 $ 1,455.2
[1]
Net of accumulated impairment losses of $1.47 billion associated with our single reporting unit (prior to September 30, 2008, our reporting unit structure was comprised of a single reporting unit) and $140.0 million associated with our Domestic reporting unit, both of which were recorded during the year ended December 31, 2008.
[2]
Net of accumulated impairment losses of $257.4 million associated with our Premium Luxury reporting unit, $41.6 million associated with our Collision Centers reporting unit, and $19.3 million associated with our Parts Centers reporting unit, each of which were recorded during the three months ended March 31, 2020.