CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Operating Activities:
Net income	$ 243.0	$ 189.9
Adjustments to reconcile net income to net cash from continuing operating activities:
Depreciation	51.3	45.7
Earnings of equity method investments	(45.3)	(34.1)
(Income) loss from discontinued operations, net of tax	(0.1)	0.4
Deferred income taxes	48.5	89.2
Changes in operating assets and liabilities:
Accounts receivable	39.8	58.2
Inventories	93.3	(177.8)
Floor plan notes payable	(56.7)	66.7
Accounts payable and accrued expenses	28.7	86.1
Other	14.5	(3.8)
Net cash provided by continuing operating activities	417.0	320.5
Investing Activities:
Purchase of equipment and improvements	(118.8)	(113.4)
Proceeds from sale of dealerships	58.4	9.0
Proceeds from sale-leaseback transactions	5.8
Acquisitions net, including repayment of sellers’ floor plan notes payable of $25.8 and $99.0, respectively	(168.6)	(431.9)
Other	(3.0)	6.0
Net cash used in continuing investing activities	(226.2)	(530.3)
Financing Activities:
Proceeds from borrowings under U.S. credit agreement revolving credit line	797.0	1,012.0
Repayments under U.S. credit agreement revolving credit line	(870.0)	(929.0)
Net borrowings of other long-term debt	96.1	54.9
Net (repayments) borrowings of floor plan notes payable — non-trade	(92.9)	131.3
Repurchases of common stock	(55.8)	(8.5)
Dividends	(59.0)	(52.4)
Other	(6.1)	(5.8)
Net cash (used in) provided by continuing financing activities	(190.7)	202.5
Discontinued operations:
Net cash provided by discontinued operating activities	0.2	0.4
Net cash provided by discontinued investing activities		2.3
Net cash used in discontinued financing activities		(0.2)
Net cash provided by discontinued operations	0.2	2.5
Effect of exchange rate changes on cash and cash equivalents	(0.2)	1.5
Net change in cash and cash equivalents	0.1	(3.3)
Cash and cash equivalents, beginning of period	45.7	24.0
Cash and cash equivalents, end of period	45.8	20.7
Cash paid (received) for:
Interest	95.9	78.9
Income taxes	24.1	8.3
Seller financed/assumed debt		3.8
Non cash activities:
Deferred consideration	$ 6.8
Consideration transferred through common stock issuance		32.4
Contingent consideration		$ 20.0