Inventory Financing Agreements

The Company has entered into agreements with certain financial intermediaries to facilitate the purchase of inventory from various suppliers under certain terms and conditions. These amounts are classified separately as Accounts payable-inventory financing on the Consolidated Balance Sheets. The Company does not incur any interest expense associated with these agreements as balances are paid when they are due. Amounts included in Accounts payable-inventory financing are as follows:



(in millions)	June 30, 2017		December 31, 2016
Revolving Loan inventory financing agreement⁽¹⁾	$	474.7	$	558.3
Other inventory financing agreements⁽²⁾	21.7		22.1
Accounts payable-inventory financing	$	496.4	$	580.4


(1)	The Senior Secured Asset-Based Revolving Credit Facility (“Revolving Loan”) includes an inventory floorplan sub-facility that enables the Company to maintain an inventory financing agreement with a financial intermediary to facilitate the purchase of inventory from certain vendors on more favorable terms than offered directly by the vendors.


(2)	As of June 30, 2017 and December 31, 2016, amounts less than $1 million and $3 million, respectively, were collateralized by the inventory purchased under these financing agreements and a second lien on the related accounts receivable.