Debt (Tables)

3 Months Ended

Mar. 31, 2026

Debt Disclosure [Abstract]

Long-Term Debt

Non-vehicle long-term debt consisted of the following:

Debt Description	Maturity Date	Interest Payable	March 31, 2026		December 31, 2025
3.8% Senior Notes	November 15, 2027	May 15 and November 15	$	300.0	$	300.0
1.95% Senior Notes	August 1, 2028	February 1 and August 1	400.0		400.0
4.45% Senior Notes	January 15, 2029	January 15 and July 15	600.0		600.0
4.75% Senior Notes	June 1, 2030	June 1 and December 1	500.0		500.0
2.4% Senior Notes	August 1, 2031	February 1 and August 1	450.0		450.0
3.85% Senior Notes	March 1, 2032	March 1 and September 1	700.0		700.0
5.89% Senior Notes	March 15, 2035	March 15 and September 15	500.0		500.0
Revolving credit facility	July 18, 2028	Monthly	—		—
Finance leases and other debt	Various dates through 2051		369.0		353.9
			3,819.0		3,803.9
Less: unamortized debt discounts and debt issuance costs			(23.1)		(24.4)
Less: current maturities			(74.8)		(74.7)
Long-term debt, net of current maturities			$	3,721.1	$	3,704.8

Schedule of non-recourse Debt

Non-recourse debt outstanding at March 31, 2026, and December 31, 2025, consisted of the following:

	March 31, 2026		December 31, 2025
Warehouse facilities	$	994.4	$	1,398.7
Term securitization debt of consolidated VIEs	1,196.6		548.6
	2,191.0		1,947.3
Less: unamortized debt discounts and debt issuance costs	(5.4)		(2.7)
Less: current maturities	(77.4)		(63.8)
Non-recourse debt, net of current maturities	$	2,108.2	$	1,880.8

Schedule of Warehouse Facilities

The aggregate capacities under our warehouse facilities as of March 31, 2026, were as follows:

	March 31, 2026
Warehouse facilities:
August 2026 expiration	$	400.0
October 2026 expiration	300.0
December 2026 expiration	700.0
Aggregate capacity	$	1,400.0
Unused capacity	$	405.6

Schedule of Non-recourse Debt Term Securitizations

At March 31, 2026, non-recourse notes payable consisted of the following:

	Balance		Initial Principal Amount		Issuance Date	Interest Rate Range	Final Distribution Date
AutoNation Finance Trust 2026-1 Class A-D	$	703.3	$	749.2	1/29/2026	3.93% to 5.07%	Various dates through Jan 2034
AutoNation Finance Trust 2025-1 Class A-D	$	493.3	$	700.0	5/21/2025	4.62% to 5.63%	Various dates through Sep 2032