Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 159,400 $ 71,800
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization of property and equipment 99,500 105,000
Debt issuance cost amortization 5,700 4,900
Stock-based compensation expense 17,900 17,300
Deferred income taxes (11,300) (58,800)
Asset impairment charges 400 173,800
Loss (gain) on disposal of dealerships and property and equipment (1,100) 6,400
Other 700 700
Loss (gain) on exit of leased dealerships (600)  
Changes in assets and liabilities that relate to operations:    
Receivables 88,400 59,500
Inventories (415,400) 62,100
Other assets 13,200 6,700
Notes payable - floor plan - trade 26,600 (7,100)
Trade accounts payable and other liabilities 1,500 58,200
Total adjustments (173,900) 428,700
Net cash provided by (used in) operating activities (14,500) 500,500
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of businesses, net of cash acquired (169,300) (440,300)
Purchases of land, property and equipment (223,700) (112,600)
Proceeds from sales of property and equipment 22,800 49,000
Proceeds from sales of dealerships 40,500 9,600
Net cash provided by (used in) investing activities (329,700) (494,300)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net (repayments) borrowings on notes payable - floor plan - non-trade (438,700) 229,200
Borrowings on revolving credit facilities 40,400 93,100
Repayments on revolving credit facilities (40,400) (93,100)
Proceeds from issuance of long-term debt 190,000 0
Debt issuance costs 1,700 (1,300)
Principal payments and repurchase of long-term debt (59,800) (101,400)
Purchases of treasury stock (142,000) (44,100)
Finance Lease, Principal Payments 38,600 7,900
Issuance of shares under stock compensation plans 200 500
Dividends paid (38,200) (35,800)
Net cash provided by (used in) financing activities 348,600 39,200
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 4,400 45,400
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 6,300 44,000
CASH AND CASH EQUIVALENTS, END OF PERIOD 10,700 89,400
Cash paid (received) during the period for:    
Interest, including amount capitalized 136,600 127,200
Income taxes $ 80,000 $ 89,400