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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating Activities:    
Net income $ 495.9 $ 459.1
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation 82.0 76.4
Earnings of equity method investments, net of distributions (70.2) (71.1)
Deferred income taxes (43.9) (2.0)
Stock-based compensation 16.9 15.3
Gain on sale of dealership (52.3) 0.0
Changes in operating assets and liabilities:    
Accounts receivable (3.4) 101.2
Inventories (6.4) (305.6)
Other current assets (14.8) (44.2)
Floor plan notes payable 5.7 334.4
Accounts payable and accrued expenses 44.8 133.4
Other 18.1 (5.8)
Net cash provided by operating activities 472.4 691.1
Investing Activities:    
Purchases of property, equipment, and improvements (147.4) (201.7)
Proceeds from sale of dealerships 79.2 0.0
Proceeds from sale of property and equipment 20.5 0.0
Proceeds from sale of equity method investment 16.0 0.0
Acquisitions net, including repayment of sellers' floor plan notes payable of $0.0 and $101.9, respectively 0.0 (440.8)
Other (3.2) (8.8)
Net cash used in investing activities (34.9) (651.3)
Financing Activities:    
Proceeds from borrowings under revolving U.S. credit agreement and mortgage facilities 2,354.5 1,829.2
Repayments under revolving U.S. credit agreement and mortgage facilities (2,450.1) (1,760.6)
Net cash (repayments) borrowings of other debt (15.0) 68.0
Net borrowings of floor plan notes payable — non-trade 48.7 51.6
Repurchases of common stock (111.2) (58.1)
Payments of tax withholding for stock-based compensation (22.1) (18.3)
Dividends (165.4) (123.0)
Payment of debt issuance costs (0.6) (0.7)
Other 0.0 (8.2)
Net cash used in financing activities (361.2) (20.1)
Effect of exchange rate changes on cash and cash equivalents 6.6 (1.0)
Net change in cash and cash equivalents 82.9 18.7
Cash and cash equivalents, beginning of period 72.4 96.4
Cash and cash equivalents, end of period 155.3 115.1
Cash paid for:    
Interest 131.6 127.4
Income taxes $ 181.3 $ 161.3