Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Current Assets:      
Cash and cash equivalents $ 28,900 $ 229,200 $ 299,400
Receivables, net 528,100 462,400  
Inventories 1,578,300 1,216,800  
Other current assets 385,100 297,900  
Total current assets 2,520,400 2,206,300  
Property, Plant and Equipment, Net 1,601,000 1,561,700  
Goodwill 253,800 231,000 416,400
Intangible Assets, Net (Excluding Goodwill) 417,400 396,700  
ROU assets 222,600 260,700  
Finance Lease, Right-of-Use Asset 236,600 224,100  
Other Assets 112,800 97,800  
Total Assets 5,364,600 4,978,300  
Current Liabilities:      
Notes payable - floor plan - trade 152,100 114,900  
Notes payable - floor plan - non-trade 1,520,600 1,112,700  
Trade accounts payable 149,800 138,400  
Operating Lease, Liability, Current 29,900 36,400  
Finance Lease, Liability, Current 10,200 11,100  
Other accrued liabilities 370,200 352,400  
Current maturities of long-term debt 60,100 79,500  
Total current liabilities 2,292,900 1,845,400  
Long-Term Debt 1,616,500 1,672,200  
Other Long-Term Liabilities 89,600 105,500  
Operating Lease, Liability, Noncurrent 219,200 231,400  
Finance Lease, Liability, Noncurrent 254,500 228,600  
Commitments and Contingencies  
Stockholders’ Equity:      
Class A Convertible Preferred Stock, none issued 0 0  
Paid-in capital 855,400 819,400  
Retained Earnings (Accumulated Deficit) 1,238,600 1,100,300  
Accumulated other comprehensive income (loss) 1,600 1,600  
Treasury stock, at cost; 33,476,159 Class A common stock shares held at December 31, 2018 and 32,290,493 Class A common stock shares held at December 31, 2017 (1,204,500) (1,026,900)  
Total Stockholders’ Equity 891,900 895,200 1,076,400
Total Liabilities and Stockholders’ Equity 5,364,600 4,978,300  
Dividends, Common Stock 26,000   14,200
Contracts in transit included in receivables, net 275,600 216,800  
Manufacturer Receivables included in receivables, net 105,300 68,100  
Other Receivables included in receivables, net 147,200 177,500  
Retained Earnings      
Stockholders’ Equity:      
Total Stockholders’ Equity 1,238,600 1,100,300 $ 1,051,700
Class A common stock      
Stockholders’ Equity:      
Common stock, value $ 700 700  
Dividends, Common Stock   $ 27,500  
Dividends declared per common share $ 1.16 $ 1.03 $ 0.46
Class A common stock | Retained Earnings      
Stockholders’ Equity:      
Dividends, Common Stock $ 26,000 $ 27,500 $ 14,200
Class A common stock | Treasury Stock, Common      
Stockholders’ Equity:      
Total Stockholders’ Equity (1,204,500) (1,026,900) (765,000)
Class B common stock      
Stockholders’ Equity:      
Common stock, value 100 100  
Dividends, Common Stock $ 13,900 $ 12,400 $ 4,800
Dividends declared per common share $ 1.16 $ 1.03 $ 0.46
Class B common stock | Retained Earnings      
Stockholders’ Equity:      
Dividends, Common Stock $ 13,900 $ 12,400 $ 4,800