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Leases (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Lease Assets and Lease Liabilities



Leases		Classification		2019
Assets
Operating		Operating Lease Assets		$	333.1
Finance		Property and Equipment, Net and Other Assets		82.5
Total right-of-use assets				$	415.6

Liabilities
Current
Operating		Other Current Liabilities		$	41.0
Finance		Current Maturities of Long-Term Debt and Vehicle Floorplan Payable - Trade		26.2
Noncurrent
Operating		Noncurrent Operating Lease Liabilities		305.0
Finance		Long-Term Debt, Net of Current Maturities		87.3
Total lease liabilities				$	459.5



Lease Term and Discount Rate		2019
Weighted average remaining lease term
Operating		11 years
Finance		13 years
Weighted-average discount rate
Operating		5.27	%
Finance		9.09	%



Lease cost		Classification		2019
Operating lease cost		Selling, general, and administrative expenses		$	60.5
Finance lease cost:
Amortization of ROU assets		Depreciation and amortization		10.8
Interest on lease liabilities		Other interest expense and floorplan interest expense		8.8
Short-term lease cost ⁽¹⁾		Selling, general, and administrative expenses		9.6
Variable lease cost		Selling, general, and administrative expenses		6.6
Sublease income		Selling, general, and administrative expenses		(1.2		)
Net lease cost				$	95.1

⁽¹⁾Includes leases with a term of one month or less.

Cash Flow Information, Lessee



Other Information		2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases		$	60.0
Operating cash flows from finance leases ⁽¹⁾		$	50.8
Financing cash flows from finance leases		$	28.9
Right-of-use assets obtained in exchange for new:
Operating lease liabilities		$	31.9
Finance lease liabilities		$	46.3

⁽¹⁾Includes the interest component of payments made on finance leases as well as principal payments on vehicle floorplan payables with trade lenders for certain service loaner vehicle leases.

Maturity of Lease Liabilities



Maturity of Lease Liabilities		Operating Leases				Finance Leases
Twelve months ending December 31,
2020		$	58.1			$	32.9
2021		52.2				11.1
2022		45.9				10.9
2023		39.7				10.7
2024		34.0				11.0
Thereafter		238.1				100.8
Total lease payments		468.0				177.4
Less: interest		(122.0		)		(63.9		)
Present value of lease liabilities		$	346.0			$	113.5

Maturity of Lease Liabilities



Maturity of Lease Liabilities		Operating Leases				Finance Leases
Twelve months ending December 31,
2020		$	58.1			$	32.9
2021		52.2				11.1
2022		45.9				10.9
2023		39.7				10.7
2024		34.0				11.0
Thereafter		238.1				100.8
Total lease payments		468.0				177.4
Less: interest		(122.0		)		(63.9		)
Present value of lease liabilities		$	346.0			$	113.5

Future Minimum Lease Obligations Under ASC 840



Maturity of Lease Liabilities		Operating Leases⁽¹⁾				Capital Leases
Twelve months ending December 31,
2019		$	61.2			$	35.7
2020		51.0				10.4
2021		46.1				10.1
2022		42.1				10.2
2023		36.6				10.1
Thereafter		258.4				108.7
Total minimum lease payments		$	495.4			$	185.2
Less: amounts representing interest						(69.5		)
						$	115.7