CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Operating Activities:
Net income	$ 189.9	$ 175.2
Adjustments to reconcile net income to net cash from continuing operating activities:
Depreciation	45.7	45.3
Earnings of equity method investments	(34.1)	(15.7)
Loss from discontinued operations, net of tax	0.4	1.2
Deferred income taxes	89.2	19.0
Changes in operating assets and liabilities:
Accounts receivable	58.2	(41.2)
Inventories	(177.8)	156.5
Floor plan notes payable	66.7	(185.4)
Accounts payable and accrued expenses	86.1	80.6
Other	(3.8)	35.1
Net cash provided by continuing operating activities	320.5	270.6
Investing Activities:
Purchase of equipment and improvements	(113.4)	(136.7)
Acquisitions net, including repayment of sellers’ floor plan notes payable of $99.0 and $44.7, respectively	(431.9)	(65.4)
Other	15.0	(25.0)
Net cash used in continuing investing activities	(530.3)	(227.1)
Financing Activities:
Proceeds from borrowings under U.S. credit agreement revolving credit line	1,012.0	629.5
Repayments under U.S. credit agreement revolving credit line	(929.0)	(789.5)
Issuance of 5.50% senior subordinated notes		500.0
Net borrowings of other long-term debt	54.9	60.9
Net borrowings (repayments) of floor plan notes payable — non-trade	131.3	(163.0)
Payment of debt issuance costs		(6.6)
Repurchases of common stock	(8.5)	(173.6)
Dividends	(52.4)	(46.4)
Other	(5.8)	(15.9)
Net cash provided by (used in) continuing financing activities	202.5	(4.6)
Discontinued operations:
Net cash provided by discontinued operating activities	0.4	1.3
Net cash provided by discontinued investing activities	2.3	1.7
Net cash used in discontinued financing activities	(0.2)	(0.1)
Net cash provided by discontinued operations	2.5	2.9
Effect of exchange rate changes on cash and cash equivalents	1.5	(6.7)
Net change in cash and cash equivalents	(3.3)	35.1
Cash and cash equivalents, beginning of period	24.0	62.4
Cash and cash equivalents, end of period	20.7	97.5
Cash paid for:
Interest	78.9	60.5
Income taxes	8.3	$ 26.9
Seller financed/assumed debt	3.8
Non cash activities:
Consideration transferred through common stock issuance	32.4
Contingent consideration	$ 20.0