XML 18 R6.htm IDEA: XBRL DOCUMENT v3.22.2.2
Unaudited Condensed Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES:    
Net income $ 1,091.0 $ 985.9
Adjustments to reconcile net income to net cash provided by operating activities:    
Loss from discontinued operations 0.3 0.2
Depreciation and amortization 148.9 143.4
Amortization of debt issuance costs and accretion of debt discounts 4.5 3.5
Stock-based compensation expense 26.3 31.6
Deferred income tax provision (benefit) 5.5 (15.1)
Net gain related to business/property dispositions (17.1) (6.3)
Non-cash impairment charges 1.0 3.2
Loss (gain) on equity investments 0.1 (10.9)
Loss (gain) on corporate-owned life insurance asset 26.0 (8.0)
Other 0.0 (0.2)
(Increase) decrease, net of effects from business acquisitions and divestitures:    
Receivables 80.3 215.6
Inventory (9.1) 1,131.3
Other assets (28.6) 70.9
Increase (decrease), net of effects from business acquisitions and divestitures:    
Vehicle floorplan payable - trade 124.0 (1,083.5)
Accounts payable (52.2) 19.1
Other liabilities 42.7 78.7
Net cash provided by continuing operations 1,443.6 1,559.4
Net cash used in discontinued operations (0.3) (0.2)
Net cash provided by operating activities 1,443.3 1,559.2
CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES:    
Purchases of property and equipment (236.2) (161.3)
Proceeds from assets held for sale 22.8 34.8
Insurance recoveries on property and equipment 0.3 1.6
Cash received from business divestitures, net of cash relinquished 55.2 4.8
Cash used in business acquisitions, net of cash acquired 0.0 (209.1)
Proceeds from the sale of equity securities 0.0 109.4
Investment in equity securities 0.0 (3.3)
Deposits for investment (81.6) 0.0
Other (7.8) (2.4)
Net cash used in continuing operations (247.3) (225.5)
Net cash used in discontinued operations 0.0 0.0
Net cash used in investing activities (247.3) (225.5)
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES:    
Repurchases of common stock (1,177.4) (1,936.5)
Net payments of commercial paper (340.0) 0.0
Payment of debt issuance costs (6.6) (8.0)
Net proceeds from (payments of) vehicle floorplan payable - non-trade 46.4 (452.0)
Payments of other debt obligations (8.7) (7.5)
Proceeds from the exercise of stock options 3.4 42.6
Payments of tax withholdings for stock-based awards (29.5) (17.9)
Net cash used in continuing operations (813.6) (1,831.3)
Net cash used in discontinued operations 0.0 0.0
Net cash used in financing activities (813.6) (1,831.3)
INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 382.4 (497.6)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH at beginning of period 60.6 569.7
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH at end of period 443.0 72.1
1.95% Senior Notes Due 2028    
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES:    
Proceeds from Senior Notes 0.0 399.2
2.4% Senior Notes Due 2031    
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES:    
Proceeds from Senior Notes 0.0 448.8
3.85% Senior Notes Due 2032    
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES:    
Proceeds from Senior Notes 698.8 0.0
3.35% Senior Notes Due 2021    
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES:    
Payment of Senior Notes $ 0.0 $ (300.0)