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Unaudited Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2020
Dec. 31, 2019
ASSETS    
Cash and cash equivalents $ 257,300,000 $ 42,000,000.0
Receivables, net 673,300,000 916,700,000
Inventory 2,432,300,000 3,305,800,000
Other current assets 157,300,000 146,600,000
Total Current Assets 3,520,200,000 4,411,100,000
PROPERTY AND EQUIPMENT, net of accumulated depreciation of $1.6 billion and $1.5 billion, respectively 3,143,900,000 3,174,600,000
OPERATING LEASE ASSETS 340,600,000 333,100,000
GOODWILL [1] 1,181,300,000 [2] 1,501,900,000
OTHER INTANGIBLE ASSETS, NET 522,000,000.0 581,600,000
OTHER ASSETS 740,500,000 541,000,000.0
Total Assets 9,448,500,000 10,543,300,000
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Vehicle floorplan payable 2,522,900,000 3,575,800,000
Accounts payable 261,300,000 290,300,000
Commercial paper 0 170,000,000.0
Current maturities of long-term debt 307,300,000 355,600,000
Other current liabilities 729,800,000 708,500,000
Total Current Liabilities 3,821,300,000 5,100,200,000
LONG-TERM DEBT, NET OF CURRENT MATURITIES 1,783,100,000 1,578,500,000
NONCURRENT OPERATING LEASE LIABILITIES 315,200,000 305,000,000.0
DEFERRED INCOME TAXES 118,000,000.0 135,100,000
OTHER LIABILITIES 273,200,000 262,400,000
COMMITMENTS AND CONTINGENCIES (Note 12)
SHAREHOLDERS’ EQUITY:    
Preferred stock, par value $0.01 per share; 5,000,000 shares authorized; none issued 0 0
Common stock, par value $0.01 per share; 1,500,000,000 shares authorized; 102,562,149 shares issued at June 30, 2020, and December 31, 2019, including shares held in treasury 1,000,000.0 1,000,000.0
Additional paid-in capital 29,500,000 35,900,000
Retained earnings 3,735,300,000 3,688,300,000
Treasury stock, at cost; 15,347,017 and 13,212,974 shares held, respectively (628,100,000) (563,100,000)
Total Shareholders’ Equity 3,137,700,000 3,162,100,000
Total Liabilities and Shareholders’ Equity 9,448,500,000 10,543,300,000
Trade [Member]    
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Vehicle floorplan payable 1,499,100,000 2,120,600,000
Non-Trade [Member]    
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Vehicle floorplan payable $ 1,023,800,000 $ 1,455,200,000
[1]
Net of accumulated impairment losses of $1.47 billion associated with our single reporting unit (prior to September 30, 2008, our reporting unit structure was comprised of a single reporting unit) and $140.0 million associated with our Domestic reporting unit, both of which were recorded during the year ended December 31, 2008.
[2]
Net of accumulated impairment losses of $257.4 million associated with our Premium Luxury reporting unit, $41.6 million associated with our Collision Centers reporting unit, and $19.3 million associated with our Parts Centers reporting unit, each of which were recorded during the three months ended March 31, 2020.