XML 17 R6.htm IDEA: XBRL DOCUMENT v3.25.3
Unaudited Condensed Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES:    
NET INCOME $ 477.0 $ 506.1
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 189.9 179.5
Amortization of debt issuance costs and accretion of debt discounts 6.3 7.0
Stock-based compensation expense 35.5 29.8
Provision for credit losses on auto loans receivable 61.8 34.0
Deferred income tax provision 15.1 3.0
Net gain related to business/property dispositions (6.6) (54.6)
Goodwill impairment 65.3 0.0
Franchise rights impairment 71.7 0.0
Non-cash impairment charges 6.7 10.2
Loss on equity investments 10.1 8.5
Gain on corporate-owned life insurance asset (16.2) (16.1)
Other (1.2) 2.2
(Increase) decrease, net of effects from business acquisitions and divestitures:    
Receivables 182.2 116.6
Auto loans receivable, net (972.8) (588.3)
Inventory (74.3) (589.8)
Other assets 34.1 16.8
Increase (decrease), net of effects from business acquisitions and divestitures:    
Vehicle floorplan payable - trade (40.9) 511.9
Accounts payable (26.6) (44.2)
Other liabilities (55.7) 32.3
Net cash provided by (used in) operating activities (38.6) 164.9
CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES:    
Purchases of property and equipment (223.1) (262.2)
Cash received from business divestitures, net of cash relinquished 16.1 156.0
Cash paid for business acquisitions, net of cash acquired (348.4) 0.0
Collections on auto loans receivable acquired through third-party dealers 14.2 65.1
Other 11.6 9.1
Net cash used in investing activities (529.6) (32.0)
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES:    
Repurchases of common stock (429.8) (355.6)
Proceeds from 5.89% Senior Notes due 2035 500.0 0.0
Net payments of commercial paper (430.0) (90.0)
Proceeds from non-recourse debt 2,007.9 1,021.5
Payments of non-recourse debt (1,090.0) (635.0)
Payment of debt issuance costs (10.1) (1.5)
Net proceeds from (payments of) vehicle floorplan payable - non-trade 74.6 (24.0)
Payments of other debt obligations (12.3) (9.7)
Payments of tax withholdings for stock-based awards (20.1) (17.6)
Proceeds from the exercise of stock options 0.6 0.4
Net cash provided by (used in) financing activities 590.8 (111.5)
INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 22.6 21.4
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH at beginning of period 103.4 77.0
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH at end of period $ 126.0 $ 98.4