| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|---|---|
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES: | |||||||||||
Net income (loss) | |||||||||||
450,000 | 396,000 | 434,600 | 430,500 | 442,600 | 418,700 | 374,900 | 316,400 | 281,400 | 226,600 | 198,000 | -1,243,100 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||||||||||
Loss from discontinued operations | |||||||||||
-800 | 100 | -400 | -1,200 | -1,100 | -1,100 | -900 | -900 | -2,800 | -8,700 | -35,100 | -30,800 |
Depreciation and amortization | |||||||||||
180,500 | 166,200 | 158,600 | 143,400 | 127,400 | 106,900 | 95,300 | 87,300 | 83,700 | 76,800 | 76,700 | 84,000 |
Amortization of debt issuance costs and accretion of debt discounts | |||||||||||
5,200 | 5,400 | 5,600 | 5,400 | 4,700 | 5,700 | 5,700 | 5,600 | 4,300 | 3,500 | 3,200 | 5,300 |
Stock-based compensation expense | |||||||||||
31,100 | 25,500 | 20,600 | 25,100 | 24,000 | 26,300 | 21,300 | 18,600 | 18,400 | 15,900 | 13,500 | 21,000 |
Gain on senior note repurchases | |||||||||||
- | - | - | - | - | - | - | - | - | - | 13,000 | 51,300 |
Gain on corporate headquarters sale-leaseback | |||||||||||
- | - | - | - | - | - | - | - | - | - | 16,100 | 0 |
Deferred income tax provision (benefit) | |||||||||||
45,800 | 14,500 | -19,000 | 3,700 | 10,000 | 9,500 | 9,900 | 26,800 | 31,100 | 12,800 | 59,200 | -267,300 |
Write-off of deferred debt issuance costs | |||||||||||
- | - | - | - | - | 400 | 0 | 0 | 400 | 3,500 | 0 | 0 |
Net gain related to business/property dispositions | |||||||||||
44,900 | 57,600 | 95,400 | 62,600 | 23,800 | 13,800 | 9,800 | 300 | 3,500 | 2,800 | 8,200 | 4,800 |
Goodwill, Impairment Loss | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 1,610,000 |
Franchise rights impairment | |||||||||||
9,600 | 8,100 | 0 | 0 | 15,400 | 0 | 0 | 4,200 | 0 | 0 | 1,500 | 127,400 |
Non-cash impairment charges | |||||||||||
2,200 | 3,200 | 26,400 | 14,000 | 6,100 | 1,100 | 700 | 800 | 2,200 | 3,700 | 3,400 | 5,600 |
Equity Securities without Readily Determinable Fair Value, Upward Price Adjustment, Annual Amount | |||||||||||
25,700 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Excess tax benefit from stock-based awards | |||||||||||
- | - | - | 600 | 17,900 | 18,000 | 10,000 | 10,600 | 22,800 | 7,700 | - | - |
Other | |||||||||||
6,800 | -800 | 7,300 | 10,600 | -1,300 | 2,000 | 6,800 | 4,000 | -300 | -2,300 | 2,800 | 3,900 |
(Increase) decrease, net of effects from business acquisitions and divestitures: | |||||||||||
Receivables | |||||||||||
-56,200 | -133,700 | 61,600 | 99,300 | 91,800 | 80,300 | 46,300 | 112,000 | 127,400 | 55,900 | 42,000 | -299,000 |
Inventory | |||||||||||
-296,000 | 319,500 | -39,300 | -259,100 | 548,800 | 27,300 | 400,100 | 474,700 | -70,100 | 448,600 | -345,300 | -339,200 |
Other assets | |||||||||||
-49,500 | 107,900 | 37,000 | 33,600 | 8,800 | 41,100 | 21,500 | 35,800 | 23,600 | -28,600 | -6,100 | -77,300 |
Increase (decrease), net of effects from business acquisitions and divestitures: | |||||||||||
Vehicle floorplan payable - trade, net | |||||||||||
-240,600 | 242,400 | -64,400 | -196,400 | 488,000 | -27,200 | 364,200 | 404,000 | -17,600 | 352,600 | -320,000 | -169,500 |
Accounts payable | |||||||||||
-17,600 | 1,700 | 500 | -5,800 | 37,700 | 7,500 | 36,700 | 30,400 | 36,600 | 11,800 | 17,800 | -63,100 |
Other liabilities | |||||||||||
-22,100 | -2,000 | 139,100 | 43,800 | 41,000 | 118,700 | 63,800 | 60,000 | 39,500 | 14,700 | -17,100 | -151,500 |
Net cash provided by continuing operations | |||||||||||
769,200 | 510,400 | 540,400 | 517,300 | 508,200 | 486,200 | 478,900 | 317,600 | 375,900 | 246,500 | 340,600 | 652,900 |
Net cash provided by discontinued operations | |||||||||||
0 | 600 | -300 | -1,300 | -1,000 | -1,100 | 5,200 | -1,000 | 500 | 5,300 | 28,700 | 31,300 |
Net cash provided by operating activities | |||||||||||
769,200 | 511,000 | 540,100 | 516,000 | 507,200 | 485,100 | 484,100 | 316,600 | 376,400 | 251,800 | 369,300 | 684,200 |
CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES: | |||||||||||
Purchases of property and equipment | |||||||||||
269,300 | 400,800 | 313,400 | 244,500 | 247,600 | 209,200 | 160,800 | 160,600 | - | - | 75,000 | 89,800 |
Property operating lease buy-outs | |||||||||||
- | - | - | 5,000 | 10,200 | 400 | 41,900 | 16,800 | - | - | 400 | 20,400 |
Proceeds from the sale of property and equipment | |||||||||||
1,000 | 28,000 | 21,000 | 8,700 | 21,900 | 5,500 | 3,100 | 600 | 3,000 | 5,400 | 11,100 | 3,300 |
Proceeds from the disposal of assets held for sale | |||||||||||
38,000 | 21,100 | 38,000 | 4,800 | 11,500 | 2,600 | 22,700 | 15,300 | 10,900 | 12,400 | 3,200 | 0 |
Insurance recoveries on property and equipment | |||||||||||
3,500 | 1,100 | 1,700 | 3,100 | 1,000 | 0 | 2,500 | 1,000 | 100 | 1,800 | 3,400 | 0 |
Cash received from business divestitures, net of cash relinquished | |||||||||||
115,600 | 173,200 | 104,600 | 150,400 | 43,900 | 41,400 | 10,100 | 6,800 | 4,900 | 13,000 | 65,900 | 49,600 |
Cash used in business acquisitions, net of cash acquired | |||||||||||
4,700 | 67,200 | 76,800 | 410,400 | 321,500 | 205,200 | 87,900 | 141,600 | 64,200 | 73,100 | 200 | 32,200 |
Payments to Acquire Investments | |||||||||||
0 | 50,000 | 0 | 0 | - | - | - | - | - | - | - | - |
Net change in restricted cash | |||||||||||
- | - | - | - | 3,800 | 0 | 0 | - | - | - | -100 | -9,500 |
Purchases of restricted investments | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 2,000 |
Proceeds from the sales of restricted investments | |||||||||||
- | - | - | - | - | 500 | 0 | 400 | 0 | 1,300 | 5,100 | 13,000 |
Other | |||||||||||
-100 | 700 | 2,100 | 100 | 4,600 | 11,200 | 5,600 | 2,900 | -2,000 | -1,000 | -700 | 400 |
Net cash used in continuing operations | |||||||||||
-115,800 | -295,300 | -227,000 | -493,000 | -509,400 | -376,000 | -257,800 | -297,800 | -206,200 | -200,000 | 13,900 | -69,400 |
Net cash used in discontinued operations | |||||||||||
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -200 | 100 | -5,700 |
Net cash used in investing activities | |||||||||||
-115,800 | -295,300 | -227,000 | -493,000 | -509,400 | -376,000 | -257,800 | -297,800 | -206,200 | -200,200 | 14,000 | -75,100 |
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES: | |||||||||||
Repurchases of common stock | |||||||||||
44,700 | 100,000 | 434,900 | 497,000 | 237,300 | 487,700 | 67,300 | 575,600 | 579,800 | 524,400 | 136,100 | 58,800 |
Proceeds from term loan facility | |||||||||||
- | - | - | - | - | - | - | - | 500,000 | 0 | 0 | - |
Payment of term loan facility | |||||||||||
- | - | - | - | - | 500,000 | 0 | 0 | 533,400 | 66,600 | 0 | 0 |
Payment of 7% Senior Notes due 2014 | |||||||||||
- | - | - | - | - | - | - | 14,700 | 0 | - | - | - |
Payment of 5.5% Senior Notes due 2020 | |||||||||||
0 | 400,000 | 0 | 0 | - | - | - | - | - | - | - | 14,100 |
Proceeds from Senior Notes | |||||||||||
- | - | - | - | - | - | - | 350,000 | 0 | - | 0 | 0 |
Proceeds from revolving credit facility | |||||||||||
0 | 0 | 1,307,000 | 1,330,000 | 1,410,000 | 2,780,000 | 815,000 | 1,280,000 | 940,000 | 305,000 | 0 | 531,000 |
Payments of revolving credit facilities | |||||||||||
0 | 0 | 1,307,000 | 1,330,000 | 2,520,000 | 1,970,000 | 1,055,000 | 1,235,000 | 625,000 | 125,000 | 0 | 791,000 |
Net payments of commercial paper | |||||||||||
-460,000 | 300,000 | -612,000 | 342,500 | 599,500 | 0 | 0 | - | - | - | - | - |
Payment of debt issuance costs | |||||||||||
0 | 0 | 13,500 | 0 | 6,400 | 6,000 | 0 | 6,000 | 13,000 | 11,900 | 0 | 0 |
Net proceeds from (payments of) vehicle floorplan payable - non-trade | |||||||||||
-134,300 | -34,200 | 130,200 | 153,800 | -13,300 | 61,600 | 89,000 | 138,100 | 40,100 | 117,000 | -100,900 | 7,900 |
Payments of other debt obligations | |||||||||||
31,000 | 15,800 | 11,800 | 4,200 | 18,200 | 24,700 | 26,200 | 5,000 | 700 | 300 | 600 | 3,500 |
Purchase of subsidiary shares | |||||||||||
- | - | - | 15,200 | 0 | 0 | - | - | - | - | - | - |
Payments of mortgage facilities | |||||||||||
0 | 0 | 153,200 | 22,500 | 9,800 | 9,200 | 8,700 | 8,100 | 7,700 | 7,300 | 6,900 | 6,400 |
Proceeds from the exercise of stock options | |||||||||||
12,700 | 17,800 | 39,700 | 8,400 | 30,000 | 35,100 | 22,700 | 30,600 | 78,000 | 49,900 | 24,800 | 1,000 |
Payments of tax withholdings for stock-based awards | |||||||||||
3,000 | 2,700 | 1,100 | 2,000 | - | - | - | - | - | - | - | - |
Excess tax benefit from stock-based awards | |||||||||||
- | - | - | 600 | 17,900 | 18,000 | 10,000 | 10,600 | 22,800 | 7,700 | 4,200 | 300 |
Other | |||||||||||
0 | -2,500 | 0 | 0 | - | - | - | - | - | - | - | 7,000 |
Net cash received from (used in) continuing operations | |||||||||||
-660,300 | -237,400 | -307,400 | -35,600 | 900 | -102,900 | -220,500 | -35,100 | -178,700 | -125,900 | -289,900 | -505,400 |
Net cash used in discontinued operations | |||||||||||
0 | 0 | 0 | 0 | 0 | 0 | -6,300 | -600 | 0 | -4,100 | -30,000 | -26,800 |
Net cash received from (used in) financing activities | |||||||||||
-660,300 | -237,400 | -307,400 | -35,600 | 900 | -102,900 | -226,800 | -35,700 | -178,700 | -130,000 | -319,900 | -532,200 |
INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH | |||||||||||
-6,900 | -21,700 | 5,700 | -12,600 | -1,300 | 6,200 | -500 | -16,900 | -8,500 | -78,400 | 63,400 | 76,900 |
Senior Notes at Three Point Five Percent Due 2024 [Member] | |||||||||||
Proceeds from Senior Notes | |||||||||||
0 | 0 | 449,400 | 0 | - | - | - | - | - | - | - | - |
Senior Notes at Three Point Eight Percent Due 2027 [Member] | |||||||||||
Proceeds from Senior Notes | |||||||||||
0 | 0 | 299,800 | 0 | - | - | - | - | - | - | - | - |