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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating Activities:      
Net income $ 1,192,700,000 $ 545,300,000 $ 435,100,000
Adjustments to reconcile net income to net cash from continuing operating activities:      
Depreciation 121,500,000 115,500,000 109,600,000
Loss on investment 11,400,000 0 0
Earnings of equity method investments (234,900,000) (115,000,000.0) (94,600,000)
Income from discontinued operations, net of tax (1,300,000) (400,000) (300,000)
Deferred income taxes 184,800,000 194,300,000 92,000,000.0
Debt redemption costs 17,000,000.0 8,600,000 0
Changes in operating assets and liabilities:      
Accounts receivable 75,600,000 152,700,000 (30,900,000)
Inventories 402,600,000 805,400,000 (117,800,000)
Floor plan notes payable (628,600,000) (611,000,000.0) 83,900,000
Accounts payable and accrued expenses 139,000,000.0 125,000,000.0 71,400,000
Other 12,200,000 (18,900,000) (30,100,000)
Net cash provided by continuing operating activities 1,292,000,000 1,201,500,000 518,300,000
Investing Activities:      
Purchase of equipment and improvements (248,900,000) (185,900,000) (245,300,000)
Proceeds from sale of dealerships 4,300,000 40,600,000 22,800,000
Proceeds from sale-leaseback transactions 0 0 18,900,000
Proceeds from sale of equipment and improvements 54,900,000 19,800,000 8,600,000
Acquisitions net, including repayment of sellers’ floor plan notes payable of $43.0, $0.0, and $138.5, respectively (431,800,000) 0 (326,900,000)
Other (1,600,000) (11,000,000.0) (10,800,000)
Net cash used in continuing investing activities (623,100,000) (136,500,000) (532,700,000)
Financing Activities:      
Proceeds from borrowings under U.S. credit agreement revolving credit line 1,856,000,000 1,797,000,000 1,808,000,000
Repayments under U.S. credit agreement revolving credit line (1,964,000,000) (1,734,000,000) (1,793,000,000)
Net (repayments) borrowings of other long-term debt (104,200,000) (144,400,000) 115,400,000
Net borrowings (repayments) of floor plan notes payable — non-trade 38,900,000 (230,200,000) 177,500,000
Payments for contingent consideration 0 (31,600,000) 0
Repurchases of common stock (280,600,000) (29,400,000) (169,200,000)
Dividends (142,500,000) (68,100,000) (130,800,000)
Payment of debt issuance costs (6,300,000) (8,100,000) (400,000)
Other (12,800,000) (5,100,000) (4,900,000)
Net cash (used in) provided by continuing financing activities (615,500,000) (1,053,900,000) 2,600,000
Discontinued operations:      
Net cash provided by discontinued operating activities 1,300,000 300,000 300,000
Net cash provided by discontinued operations 1,300,000 300,000 300,000
Effect of exchange rate changes on cash and cash equivalents (3,500,000) 10,000,000.0 200,000
Net change in cash and cash equivalents 51,200,000 21,400,000 (11,300,000)
Cash and cash equivalents, beginning of period 49,500,000 28,100,000 39,400,000
Cash and cash equivalents, end of period 100,700,000 49,500,000 28,100,000
Cash paid for:      
Interest 95,300,000 168,500,000 204,900,000
Income taxes 160,100,000 17,900,000 92,400,000
Non cash activities:      
Contingent consideration 0 0 10,600,000
3.50% senior subordinated notes due 2025      
Financing Activities:      
Issuance of senior subordinated notes 0 550,000,000.0 0
3.75% senior subordinated notes due 2029      
Financing Activities:      
Issuance of senior subordinated notes 500,000,000.0 0 0
3.75% senior subordinated notes due 2020      
Financing Activities:      
Repayment of senior subordinated notes 0 (300,000,000.0) 0
5.375% senior subordinated notes due 2024      
Financing Activities:      
Repayment of senior subordinated notes 0 (300,000,000.0) 0
5.50% senior subordinated notes due 2026 redeemed June 24, 2021      
Financing Activities:      
Repayment of senior subordinated notes (500,000,000.0) 0 0
5.75% senior subordinated notes due 2022      
Financing Activities:      
Repayment of senior subordinated notes $ 0 $ (550,000,000.0) $ 0