v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
CURRENT ASSETS:    
Cash and cash equivalents $ 41.7 $ 32.5
Contracts-in-transit and vehicle receivables, net 331.7 326.4
Accounts and notes receivable, net 347.3 308.4
Inventories 2,727.8 2,741.3
Prepaid expenses 38.7 65.3
Other current assets 16.5 17.4
Current assets classified as held for sale 3.6 171.4
TOTAL CURRENT ASSETS 3,507.3 3,662.6
Property and equipment, net of accumulated depreciation of $763.7 and $746.3, respectively 3,124.0 3,137.4
Operating lease assets 256.0 276.0
Goodwill 2,126.5 2,204.9
Intangible franchise rights 917.6 933.8
Other long-term assets 131.0 135.1
TOTAL ASSETS 10,062.4 10,349.6
CURRENT LIABILITIES:    
Floorplan notes payable — credit facility and other, net of offset account of $149.1 and $504.2, respectively 1,399.4 1,083.5
Floorplan notes payable — manufacturer affiliates, net of offset account of $0.6 and $—, respectively 839.6 832.3
Current maturities of long-term debt 289.5 259.0
Current operating lease liabilities 25.1 25.1
Accounts payable 719.9 732.8
Accrued expenses and other current liabilities 427.6 432.0
Current liabilities classified as held for sale 0.0 38.5
TOTAL CURRENT LIABILITIES 3,701.1 3,403.1
Long-term debt 2,851.5 3,440.5
Long-term operating lease liabilities 206.8 229.9
Deferred income taxes 314.2 331.1
Other long-term liabilities 149.3 155.8
Commitments and Contingencies (Note 12)
STOCKHOLDERS’ EQUITY:    
Common stock, $0.01 par value, 50,000,000 shares authorized; 24,931,436 and 24,941,249 shares issued, respectively 0.2 0.2
Additional paid-in capital 392.5 388.5
Retained earnings 4,545.5 4,421.9
Accumulated other comprehensive income (loss) 19.3 31.6
Treasury stock, at cost; 13,030,825 and 12,897,840 shares, respectively (2,118.0) (2,053.2)
TOTAL STOCKHOLDERS’ EQUITY 2,839.6 2,789.1
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 10,062.4 $ 10,349.6