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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
CASH FLOW FROM OPERATING ACTIVITIES:      
Net income $ 184.4 $ 168.0 $ 139.1
Adjustments to reconcile net income to net cash provided by operating activities—      
Depreciation and amortization 36.2 33.7 32.1
Share-based compensation 12.5 10.5 13.6
Deferred income taxes 5.4 5.3 2.8
Franchise rights impairment 7.1 3.7 5.1
Loaner vehicle amortization 23.6 22.5 22.4
Gain on divestitures (11.7) 0.0 0.0
Change in right-of-use asset 19.4    
Other adjustments, net 4.8 3.1 4.3
Changes in operating assets and liabilities, net of acquisitions and divestitures—      
Contracts-in-transit 3.6 (5.0) (10.7)
Accounts receivable (6.0) (1.5) 10.2
Inventories 212.1 (24.4) 251.5
Other current assets (173.7) (200.8) (197.2)
Floor plan notes payable—trade, net 38.2 9.8 (4.1)
Accounts payable and accrued liabilities 10.7 (16.2) (2.6)
Operating lease liabilities (19.7)    
Other long-term assets and liabilities, net 2.9 1.4 (0.2)
Net cash provided by operating activities 349.8 10.1 266.3
CASH FLOW FROM INVESTING ACTIVITIES:      
Capital expenditures—excluding real estate (57.6) (40.3) (42.3)
Capital expenditures—real estate (9.2) (17.6) (5.8)
Purchases of previously leased real estate (4.9) (4.4) (5.4)
Acquisitions (210.0) (91.3) (80.1)
Divestitures 39.1 0.0 0.0
Proceeds from the sale of assets 15.0 4.0 5.8
Net cash used in investing activities (227.6) (149.6) (127.8)
CASH FLOW FROM FINANCING ACTIVITIES:      
Floor plan borrowings—non-trade 4,318.6 4,591.9 3,850.3
Floor plan borrowings—acquisitions 55.3 22.7 25.1
Floor plan repayments—non-trade (4,513.3) (4,390.4) (3,921.0)
Floor plan repayments—divestitures (14.1) 0.0 0.0
Proceeds from borrowings 97.7 50.7 0.0
Repayments of borrowings (48.4) (19.9) (52.0)
Payment of debt issuance costs (2.3) (1.7) 0.0
Repurchases of common stock, including amounts associated with net share settlements of employee share-based awards (20.5) (110.2) (39.6)
Net cash (used in) provided by financing activities (127.0) 143.1 (137.2)
Net (decrease) increase in cash and cash equivalents (4.8) 3.6 1.3
CASH AND CASH EQUIVALENTS, beginning of period 8.3 4.7 3.4
CASH AND CASH EQUIVALENTS, end of period $ 3.5 $ 8.3 $ 4.7