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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating Activities:    
Net income $ 245.0 $ 216.2
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation 39.9 37.8
Earnings of equity method investments (33.3) (33.3)
Deferred income taxes (23.2) 14.6
Stock-based compensation 8.0 7.5
Gain on sale of dealership (52.3) 0.0
Changes in operating assets and liabilities:    
Accounts receivable (188.9) 75.9
Inventories 191.7 (77.2)
Other current assets (16.1) (33.8)
Floor plan notes payable (73.0) 134.8
Accounts payable and accrued expenses 187.4 130.5
Other (2.5) (17.0)
Net cash provided by operating activities 282.7 456.0
Investing Activities:    
Purchases of property, equipment, and improvements (76.6) (102.5)
Proceeds from sale of dealerships 77.8 0.0
Proceeds from sale of property and equipment 4.0 0.0
Acquisitions net, including repayment of sellers' floor plan notes payable of $0.0 and $83.1, respectively 0.0 (243.6)
Other (1.7) (6.3)
Net cash provided by (used in) investing activities 3.5 (352.4)
Financing Activities:    
Proceeds from borrowings under revolving U.S. credit agreement and mortgage facilities 1,098.6 668.7
Repayments under revolving U.S. credit agreement and mortgage facilities (1,143.1) (700.2)
Net cash (repayments) borrowings of other debt (47.5) 80.2
Net repayments of floor plan notes payable — non-trade (27.6) (30.7)
Repurchases of common stock (39.9) (32.9)
Payments of tax withholding for stock-based compensation (0.1) 0.0
Dividends (81.8) (58.6)
Payment of debt issuance costs (0.3) (0.5)
Other 0.0 (8.1)
Net cash used in financing activities (241.7) (82.1)
Effect of exchange rate changes on cash and cash equivalents 1.5 (1.0)
Net change in cash and cash equivalents 46.0 20.5
Cash and cash equivalents, beginning of period 72.4 96.4
Cash and cash equivalents, end of period 118.4 116.9
Cash paid for:    
Interest 69.2 68.6
Income taxes $ 23.5 $ 22.5