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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating Activities:    
Net income $ 183.1 $ 51.5
Adjustments to reconcile net income to net cash from continuing operating activities:    
Depreciation 29.3 28.5
Earnings of equity method investments (55.4) (14.5)
Income from discontinued operations, net of tax   (0.1)
Deferred income taxes 41.8 28.4
Changes in operating assets and liabilities:    
Accounts receivable (54.5) 343.9
Inventories 147.2 (9.3)
Floor plan notes payable (93.6) (126.8)
Accounts payable and accrued expenses 39.1 (84.9)
Other 2.3 (4.8)
Net cash provided by continuing operating activities 239.3 211.9
Investing Activities:    
Purchase of equipment and improvements (42.4) (25.7)
Proceeds from sale of dealerships 4.3 10.3
Proceeds from sale of equipment and improvements 20.4  
Other (0.6) (0.7)
Net cash used in continuing investing activities (18.3) (16.1)
Financing Activities:    
Proceeds from borrowings under U.S. credit agreement revolving credit line 301.0 515.0
Repayments under U.S. credit agreement revolving credit line (409.0) (210.0)
Net repayments of other long-term debt (2.3) (22.1)
Net (repayments) borrowings of floor plan notes payable - non-trade (29.1) 11.7
Payments for contingent consideration   (21.1)
Repurchases of common stock   (29.4)
Dividends (34.6) (34.2)
Payment of debt issuance costs (0.1)  
Net cash provided by continuing financing activities (174.1) 209.9
Discontinued operations:    
Net cash provided by discontinued operating activities 0.1
Net cash provided by discontinued investing activities
Net cash provided by discontinued financing activities
Net cash provided by discontinued operations 0.1
Effect of exchange rate changes on cash and cash equivalents (1.8) (2.0)
Net change in cash and cash equivalents 45.1 403.8
Cash and cash equivalents, beginning of period 49.5 28.1
Cash and cash equivalents, end of period 94.6 431.9
Cash paid (received) for:    
Interest 27.2 36.3
Income taxes $ 11.5 $ (3.3)