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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating Activities:      
Net income $ 1,386.2 $ 1,192.7 $ 545.3
Adjustments to reconcile net income to net cash from continuing operating activities:      
Depreciation 127.3 121.5 115.5
Loss on investment 0.0 11.4 0.0
Earnings of equity method investments (183.3) (234.9) (115.0)
Income from discontinued operations, net of tax 0.0 (1.3) (0.4)
Deferred income taxes 124.2 184.8 194.3
Debt redemption costs 0.0 17.0 8.6
Changes in operating assets and liabilities:      
Accounts receivable (192.9) 75.6 152.7
Inventories (444.4) 402.6 805.4
Floor plan notes payable 487.1 (628.6) (611.0)
Accounts payable and accrued expenses 81.7 139.0 125.0
Other 73.1 12.2 (18.9)
Net cash provided by continuing operating activities 1,459.0 1,292.0 1,201.5
Investing Activities:      
Purchases of property, equipment, and improvements (282.5) (248.9) (185.9)
Proceeds from sale of dealerships 13.1 4.3 40.6
Proceeds from sale of property and equipment 32.3 54.9 19.8
Acquisitions net, including repayment of sellers' floor plan notes payable of $51.3, $43.0, and $0.0, respectively (393.4) (431.8) 0.0
Other (11.2) (1.6) (11.0)
Net cash used in continuing investing activities (641.7) (623.1) (136.5)
Financing Activities:      
Proceeds from borrowings under U.S. credit agreement revolving credit line 2,101.0 1,856.0 1,797.0
Repayments under U.S. credit agreement revolving credit line (2,101.0) (1,964.0) (1,734.0)
Net borrowings (repayments) of other long-term debt 160.1 (104.2) (144.4)
Net borrowings (repayments) of floor plan notes payable — non-trade 82.9 38.9 (230.2)
Payments for contingent consideration 0.0 0.0 (31.6)
Repurchases of common stock (869.3) (280.6) (29.4)
Dividends (154.1) (142.5) (68.1)
Payment of debt issuance costs (0.3) (6.3) (8.1)
Other (17.3) (12.8) (5.1)
Net cash used in continuing financing activities (798.0) (615.5) (1,053.9)
Discontinued operations:      
Net cash provided by discontinued operating activities 0.0 1.3 0.3
Net cash provided by discontinued operations 0.0 1.3 0.3
Effect of exchange rate changes on cash and cash equivalents (13.5) (3.5) 10.0
Net change in cash and cash equivalents 5.8 51.2 21.4
Cash and cash equivalents, beginning of period 100.7 49.5 28.1
Cash and cash equivalents, end of period 106.5 100.7 49.5
Cash paid for:      
Interest 112.8 95.3 168.5
Income taxes 343.4 160.1 17.9
3.50% senior subordinated notes due 2025      
Financing Activities:      
Issuance of senior subordinated notes 0.0 0.0 550.0
3.75% senior subordinated notes due 2029      
Financing Activities:      
Issuance of senior subordinated notes 0.0 500.0 0.0
3.75% senior subordinated notes due 2020      
Financing Activities:      
Repayment of senior subordinated notes 0.0 0.0 (300.0)
5.375% senior subordinated notes due 2024      
Financing Activities:      
Repayment of senior subordinated notes 0.0 0.0 (300.0)
5.50% senior subordinated notes due 2026      
Financing Activities:      
Repayment of senior subordinated notes 0.0 (500.0) 0.0
5.75% senior subordinated notes due 2022      
Financing Activities:      
Repayment of senior subordinated notes $ 0.0 $ 0.0 $ (550.0)