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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating Activities:      
Net income $ 923.4 $ 1,058.6 $ 1,386.2
Adjustments to reconcile net income to net cash from operating activities:      
Depreciation 158.0 141.0 127.3
Earnings of equity method investments, net of distributions (127.9) (174.6) (183.3)
Deferred income taxes (13.0) 101.8 124.2
Stock-based compensation 29.4 28.1 26.7
Goodwill impairment charges 0.0 40.7 0.0
Changes in operating assets and liabilities:      
Accounts receivable 125.4 (194.7) (192.9)
Inventories (196.7) (666.2) (444.4)
Other current assets (43.8) (29.5) (36.2)
Floor plan notes payable 316.1 659.7 487.1
Accounts payable and accrued expenses 42.9 (13.0) 81.7
Other (34.0) 141.7 82.6
Net cash provided by operating activities 1,179.8 1,093.6 1,459.0
Investing Activities:      
Purchases of property, equipment, and improvements (368.7) (375.3) (282.5)
Proceeds from sale of dealerships 82.1 0.0 13.1
Proceeds from sale of property and equipment 26.2 30.7 32.3
Proceeds from sale of equity method investment 20.7 0.0 0.0
Acquisitions net, including repayment of sellers' floor plan notes payable of $212.5, $24.3, and $51.3, respectively (786.2) (214.9) (393.4)
Other (11.1) (12.8) (11.2)
Net cash used in investing activities (1,037.0) (572.3) (641.7)
Financing Activities:      
Proceeds from borrowings under revolving U.S. credit agreement and mortgage facilities 4,301.4 3,150.3 2,101.0
Repayments under revolving U.S. credit agreement and mortgage facilities (4,182.7) (3,227.8) (2,101.0)
Net cash borrowings of other debt 113.3 73.2 160.1
Net (repayments) borrowings of floor plan notes payable — non-trade (15.4) 46.5 82.9
Repurchases of common stock (58.7) (358.7) (869.3)
Payments of tax withholding for stock-based compensation (18.8) (23.5) (17.2)
Dividends (274.4) (189.1) (154.1)
Payment of debt issuance costs (1.0) (2.1) (0.3)
Purchase of subsidiary shares from non-controlling interest (16.7) 0.0 0.0
Other (11.7) 0.1 (0.1)
Net cash used in financing activities (164.7) (531.1) (798.0)
Effect of exchange rate changes on cash and cash equivalents (2.1) (0.3) (13.5)
Net change in cash and cash equivalents (24.0) (10.1) 5.8
Cash and cash equivalents, beginning of period 96.4 106.5 100.7
Cash and cash equivalents, end of period 72.4 96.4 106.5
Cash paid for:      
Interest 271.6 214.3 112.8
Income taxes 317.4 288.1 343.4
Non-cash activities:      
Receivable From Sale Of Investment $ 10.4 $ 0.0 $ 0.0