DEBT (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of Debt

Debt consisted of the following as of December 31:

($ in millions)	2023		2022
Term Loan Credit Agreement due August 2026(1)	$	248.7	$	346.1
Vehicle floor plan notes payable (trade)(2)	101.9		75.4
Vehicle floor plan notes payable (non-trade)(2)	189.4		144.7
Finance lease obligation(2)	49.8		—
Convertible senior 6.75% promissory notes due January 2025(3)	38.8		38.8
RumbleOn Finance line of credit due February 2025(4)	12.2		25.0
Notes payable for fleet vehicles and other(2)	2.1		—
Total principal amount	642.9		630.0
Less: Unamortized discount and debt issuance costs	(29.3)		(31.8)
Total debt	613.6		598.2
Less: Floor plan notes payable and current portion of long-term debt	(326.9)		(223.8)
Long-term debt	$	286.7	$	374.4

(1) Interest rate at December 31, 2023 of 13.90%. Interest payments are required quarterly. Fair value of $266.1 million estimated using Level 3 inputs.

(2) Carrying value approximates fair value due to the nature of this debt. The fair value of debt where carrying value approximates fair value was determined using Level 3 inputs.

(3) Fair value of $38.5 million estimated using Level 3 inputs.

(4) Interest rate at December 31, 2023 was 12.8%. This debt was fully repaid on January 2, 2024.

Schedule of Maturities of Long-term Debt

As of December 31, 2023, principal payments on our term loan, finance lease, convertible senior 6.75% promissory notes, RumbleOn Finance line of credit and notes payable for leasehold improvements and other are due as follows ($ in millions):

Year	Amount
2024	$	35.6
2025	39.2
2026	226.2
2027	0.5
2028	0.3
Thereafter(1)	49.8
Total debt payments	$	351.6

(1) Represents principal payments for the finance lease, the minimum lease payments of which are disclosed in Note 10.

Schedule of Convertible Debt

The outstanding convertible promissory notes, net of unamortized debt discount and issue costs as of December 31 are summarized as follows:

($ in millions)	2023		2022
Convertible 6.75% senior promissory notes, principal amount	$	38.8	$	38.8
Unamortized debt discount and issuance costs	3.7		6.9
Convertible 6.75% senior promissory notes, carrying amount	$	35.1	$	31.9