Annual report [Section 13 and 15(d), not S-K Item 405]

CONSOLIDATED BALANCE SHEETS

v3.25.4
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Current Assets:      
Cash and cash equivalents $ 6,300 $ 44,000 $ 28,900
Receivables, net 469,000 495,900  
Inventories 2,012,900 1,957,700  
Other current assets 344,300 387,900  
Total current assets 2,832,500 2,885,500  
Property, Plant and Equipment, Net 1,562,900 1,606,900  
Goodwill 421,800 358,500 253,800
Intangible Assets, Net (Excluding Goodwill) 454,100 430,300  
ROU assets 279,100 224,300  
Finance Lease, Right-of-Use Asset 328,400 317,200  
Other Assets 91,900 73,000  
Total Assets 5,970,700 5,895,700  
Current Liabilities:      
Notes payable - floor plan - trade 184,600 165,600  
Notes payable - floor plan - non-trade 1,748,100 1,773,700  
Trade accounts payable 151,000 172,000  
Operating Lease, Liability, Current 33,500 25,600  
Finance Lease, Liability, Current 19,200 11,900  
Other accrued liabilities 409,100 412,800  
Current maturities of long-term debt 52,400 76,100  
Total current liabilities 2,597,900 2,637,700  
Long-Term Debt 1,563,000 1,511,900  
Other Long-Term Liabilities 114,400 119,700  
Operating Lease, Liability, Noncurrent 268,300 220,100  
Finance Lease, Liability, Noncurrent 359,000 344,000  
Commitments and Contingencies  
Stockholders’ Equity:      
Class A Convertible Preferred Stock, none issued 0 0  
Paid-in capital 908,200 884,600  
Retained Earnings (Accumulated Deficit) 1,481,100 1,412,000  
Accumulated other comprehensive income (loss) (700) 3,800  
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 (1,321,300) (1,238,900)  
Total Stockholders’ Equity 1,068,100 1,062,300 891,900
Total Liabilities and Stockholders’ Equity 5,970,700 5,895,700  
Dividends, Common Stock 32,000   26,000
Contracts in transit included in receivables, net 215,300 246,500  
Manufacturer Receivables included in receivables, net 124,700 130,400  
Other Receivables included in receivables, net 129,000 119,000  
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, Tax 700 (200) 200
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax (1,700) 700 100
Retained Earnings      
Stockholders’ Equity:      
Total Stockholders’ Equity 1,481,100 1,412,000 1,238,600
Accumulated Other Comprehensive Income (Loss)      
Stockholders’ Equity:      
Total Stockholders’ Equity (700) 3,800 1,600
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax (1,700) 700 100
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent      
Stockholders’ Equity:      
Total Stockholders’ Equity (1,700) 0 $ (800)
Class A common stock      
Stockholders’ Equity:      
Common stock, value $ 700 700  
Dividends, Common Stock   $ 27,600  
Dividends declared per common share $ 1.46 $ 1.25 $ 1.16
Class A common stock | Retained Earnings      
Stockholders’ Equity:      
Dividends, Common Stock $ 32,000 $ 27,600 $ 26,000
Class A common stock | Treasury Stock, Common      
Stockholders’ Equity:      
Total Stockholders’ Equity (1,321,300) (1,238,900) (1,204,500)
Class B common stock      
Stockholders’ Equity:      
Common stock, value 100 100  
Dividends, Common Stock $ 17,600 $ 15,000 $ 13,900
Dividends declared per common share $ 1.46 $ 1.25 $ 1.16
Class B common stock | Retained Earnings      
Stockholders’ Equity:      
Dividends, Common Stock $ 17,600 $ 15,000 $ 13,900