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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES:      
Net income $ 1,377.4 $ 1,373.0 $ 381.6
Adjustments to reconcile net income to net cash provided by operating activities:      
Loss from discontinued operations 0.3 0.3 0.2
Depreciation and amortization 200.3 193.3 198.9
Amortization of debt issuance costs and accretion of debt discounts 7.2 4.9 4.7
Stock-based compensation expense 31.5 35.0 30.2
Provision for credit losses on auto loans receivable 43.8 [1] 0.0 0.0
Deferred income tax provision (benefit) 1.3 (17.4) (38.9)
Net gain on asset sales and dispositions (16.3) (18.1) (7.9)
Goodwill impairment 0.0 0.0 318.3
Franchise rights impairment 0.0 0.0 57.5
Other non-cash impairment charges 1.6 3.2 14.7
Gain on equity investments (2.9) (10.9) (131.5)
Loss (gain) on corporate-owned life insurance asset 19.4 (12.7) (12.3)
Other 0.0 (0.6) 1.3
(Increase) decrease, net of effects from business combinations and divestitures:      
Receivables (129.2) 114.9 70.0
Inventory (175.5) 800.4 703.6
Other assets (58.4) 92.2 85.6
Increase (decrease), net of effects from business combinations and divestitures:      
Vehicle floorplan payable-trade 461.1 (1,059.7) (579.3)
Accounts payable (68.9) 57.2 47.7
Other liabilities (24.3) 73.0 63.2
Net cash provided by continuing operations 1,668.4 1,628.0 1,207.6
Net cash used in discontinued operations (0.3) (0.3) 0.0
Net cash provided by operating activities 1,668.1 1,627.7 1,207.6
CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES:      
Purchases of property and equipment (329.0) (215.7) (156.0)
Proceeds from the disposal of assets held for sale 22.8 37.1 16.4
Cash used in business acquisitions, net of cash acquired (191.6) (432.7) (0.4)
Cash received from business divestitures, net of cash relinquished 55.2 48.7 9.0
Originations of auto loans receivable acquired through third-party dealers (56.0) 0.0 0.0
Collections on auto loans receivable acquired through third-party dealers 36.4 0.0 0.0
Proceeds from Sale of Equity Securities 1.8 109.4 105.4
Investment in equity securities (12.0) (5.5) (50.0)
Other (6.9) (1.6) 1.9
Net cash used in continuing operations (479.3) (460.3) (73.7)
Net cash used in discontinued operations 0.0 0.0 0.0
Net cash used in investing activities (479.3) (460.3) (73.7)
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES:      
Repurchases of common stock (1,699.5) (2,318.2) (367.2)
Proceeds from revolving credit facilities 0.0 0.0 1,110.0
Payments of revolving credit facilities 0.0 0.0 (1,110.0)
Net proceeds from (payments of) commercial paper (290.0) 340.0 (170.0)
Proceeds from non-recourse debt 40.7 0.0 0.0
Payments of non-recourse debt (35.6) 0.0 0.0
Payment of debt issuance costs (7.1) (8.0) (11.0)
Net proceeds from (payments of) vehicle floorplan payable - non-trade 178.6 (263.9) (233.3)
Payment of other debt obligations (12.0) (10.9) (17.2)
Proceeds from the exercise of stock options 3.4 54.5 52.7
Payments of tax withholdings for stock-based awards (31.3) (18.0) (8.1)
Net cash used in continuing operations (1,154.0) (1,676.5) (606.7)
Net cash used in discontinued operations 0.0 0.0 0.0
Net cash used in financing activities (1,154.0) (1,676.5) (606.7)
INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 34.8 (509.1) 527.2
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH at beginning of year 60.6 569.7 42.5
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH at end of year 95.4 60.6 569.7
Senior Notes at Three Point Eight Five Percent Due 2032      
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES:      
Proceeds from Senior Notes 698.8 0.0 0.0
Senior Notes at One Point Nine Five Percent Due 2028      
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES:      
Proceeds from Senior Notes 0.0 399.2 0.0
Senior Notes at Two Point Four Percent Due 2031      
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES:      
Proceeds from Senior Notes 0.0 448.8 0.0
Senior Notes at Four Point Seven Five Percent Due 2030      
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES:      
Proceeds from Senior Notes 0.0 0.0 497.4
Senior Notes at Three Point Three Five Percent Due 2021      
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES:      
Payment of Senior Notes 0.0 (300.0) 0.0
Senior Notes at Five Point Five Percent Due 2020      
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES:      
Payment of Senior Notes $ 0.0 $ 0.0 $ (350.0)
[1] (1) Includes initial credit loss expense of $34.2 million associated with the auto loan portfolio acquired in the acquisition of CIG Financial on October 1, 2022.