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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 279,400 $ 252,600
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization of property and equipment 84,200 69,100
Debt issuance cost amortization 3,800 2,300
Stock-based compensation expense 16,900 11,200
Deferred income taxes (10,400) (8,900)
Other 1,000 (1,200)
Changes in assets and liabilities that relate to operations:    
Receivables 43,500 93,200
Inventories 101,100 419,800
Other assets 107,500 (2,700)
Notes payable - floor plan - trade 5,300 (556,600)
Trade accounts payable and other liabilities 13,100 (12,400)
Total adjustments 366,000 13,800
Net cash provided by (used in) operating activities 645,400 266,400
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of businesses, net of cash acquired (94,200) (66,100)
Purchases of land, property and equipment (197,600) (181,500)
Proceeds from sales of property and equipment 15,700 6,200
Proceeds from sales of dealerships 0 3,900
Net cash provided by (used in) investing activities (276,100) (237,500)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net (repayments) borrowings on notes payable - floor plan - non-trade 218,800 128,100
Borrowings on revolving credit facilities 0 4,900
Repayments on revolving credit facilities 0 (4,900)
Proceeds from issuance of long-term debt 0 16,500
Debt issuance costs 500 (4,800)
Principal payments and repurchase of long-term debt (42,100) (43,000)
Purchases of treasury stock (245,200) (67,000)
Finance Lease, Principal Payments 6,400 3,100
Issuance of shares under stock compensation plans 8,500 7,500
Dividends paid (25,200) (13,300)
Net cash provided by (used in) financing activities (529,700) 20,900
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (160,400) 49,800
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 299,400 170,300
CASH AND CASH EQUIVALENTS, END OF PERIOD 139,000 220,100
Cash paid (received) during the period for:    
Interest, including amount capitalized 68,700 46,000
Income taxes $ 95,200 $ 85,800

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