Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Dec. 31, 2017	Feb. 26, 2018	Jun. 30, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	ASBURY AUTOMOTIVE GROUP INC
Entity Central Index Key	0001144980
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-K
Document Period End Date	Dec. 31, 2017
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		20,913,251
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 1,160

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
CURRENT ASSETS:
Cash and cash equivalents	$ 4.7	$ 3.4
Contracts-in-transit, net	193.3	182.6
Accounts receivable, net	128.5	138.4
Inventories, net	826.0	894.9
Assets held for sale	30.3	16.1
Other current assets	119.3	97.0
Total current assets	1,302.1	1,332.4
PROPERTY AND EQUIPMENT, net	834.2	815.4
GOODWILL	160.8	128.1
INTANGIBLE FRANCHISE RIGHTS	49.6	48.5
OTHER LONG-TERM ASSETS	10.0	11.7
Total assets	2,356.7	2,336.1
CURRENT LIABILITIES:
Floor plan notes payable—trade, net	104.2	108.3
Floor plan notes payable—non-trade, net	627.9	673.5
Current maturities of long-term debt	12.9	14.0
Accounts payable and accrued liabilities	313.2	309.1
Total current liabilities	1,058.2	1,104.9
LONG-TERM DEBT	862.6	912.7
DEFERRED INCOME TAXES	12.5	8.9
OTHER LONG-TERM LIABILITIES	29.2	29.9
COMMITMENTS AND CONTINGENCIES (Note 18)
SHAREHOLDERS' EQUITY:
Preferred stock, $.01 par value, 10,000,000 shares authorized; none issued or outstanding	0.0	0.0
Common stock, $.01 par value, 90,000,000 shares authorized; 40,969,987 and 40,750,765 shares issued, including shares held in treasury, respectively	0.4	0.4
Additional paid-in capital	563.5	549.4
Retained earnings	750.3	611.5
Treasury stock, at cost; 20,156,962 and 19,497,596 shares, respectively	(919.1)	(879.5)
Accumulated other comprehensive loss	(0.9)	(2.1)
Total shareholders' equity	394.2	279.7
Total liabilities and shareholders' equity	$ 2,356.7	$ 2,336.1

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	90,000,000	90,000,000
Common stock, shares issued (in shares)	40,969,987	40,750,765
Treasury stock, shares (in shares)	20,156,962	19,497,596

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
REVENUE:
New vehicle	$ 3,561.1	$ 3,611.9	$ 3,652.5
Used vehicle	1,834.1	1,876.4	1,931.7
Parts and service	786.1	778.5	740.7
Finance and insurance, net	275.2	261.0	263.4
TOTAL REVENUE	6,456.5	6,527.8	6,588.3
COST OF SALES:
New vehicle	3,392.1	3,424.8	3,449.5
Used vehicle	1,712.2	1,749.1	1,799.9
Parts and service	296.3	295.2	278.1
TOTAL COST OF SALES	5,400.6	5,469.1	5,527.5
GROSS PROFIT	1,055.9	1,058.7	1,060.8
OPERATING EXPENSES:
Selling, general, and administrative	729.7	732.5	729.9
Depreciation and amortization	32.1	30.7	29.5
Franchise rights impairment	5.1	0.0	0.0
Other operating expense (income), net	1.3	(2.3)	(0.2)
INCOME FROM OPERATIONS	287.7	297.8	301.6
OTHER EXPENSES (INCOME):
Floor plan interest expense	22.7	19.3	16.1
Other interest expense, net	53.9	53.1	44.0
Swap interest expense	2.0	3.1	3.0
Gain on divestitures		(45.5)	(34.9)
Total other expenses, net	78.6	30.0	28.2
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	209.1	267.8	273.4
Income tax expense	70.0	100.6	104.0
INCOME FROM CONTINUING OPERATIONS	139.1	167.2	169.4
Discontinued operations, net of tax	0.0	0.0	(0.2)
NET INCOME	$ 139.1	$ 167.2	$ 169.2
Basic—
Continuing operations (in dollars per share)	$ 6.69	$ 7.43	$ 6.44
Discontinued operations (in dollars per share)	0.00	0.00	(0.01)
Net income (in dollars per share)	6.69	7.43	6.43
Diluted—
Continuing operations (in dollars per share)	6.62	7.40	6.42
Discontinued operations (in dollars per share)	0.00	0.00	(0.01)
Net income (in dollars per share)	$ 6.62	$ 7.40	$ 6.41
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
Basic (in shares)	20.8	22.5	26.3
Restricted stock (in shares)	0.1	0.0	0.0
Performance share units (in shares)	0.1	0.1	0.1
Diluted (in shares)	21.0	22.6	26.4

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 139.1	$ 167.2	$ 169.2
Other comprehensive income (loss):
Change in fair value of cash flow swaps	1.9	2.3	(3.1)
Income tax (expense) benefit associated with cash flow swaps	(0.7)	(0.9)	1.1
Comprehensive income (loss)	$ 140.3	$ 168.6	$ 167.2

CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive Income (Loss)
Balance (in shares) at Dec. 31, 2014		40,327,625			11,803,711
Balance at Dec. 31, 2014	$ 444.9	$ 0.4	$ 522.6	$ 275.1	$ (351.7)	$ (1.5)
Comprehensive Income (Loss):
Net income	169.2			169.2
Change in fair value of cash flow swaps, net of reclassification adjustment and tax benefit/expense	(2.0)					(2.0)
Comprehensive income (loss)	167.2			169.2		(2.0)
Share-based compensation	10.0		10.0
Issuance of common stock in connection with share-based payment arrangements, including tax (deficit) benefit (in shares)		179,688
Issuance of common stock in connection with share-based payment arrangements, including tax (deficit) benefit	4.6		4.6
Repurchase of common stock associated with net share settlements of employee share-based awards (in shares)					99,646
Repurchase of common stock associated with net share settlements of employee share-based awards	(8.0)				$ (8.0)
Purchase of treasury shares (in shares)					3,793,186
Purchase of treasury shares	(304.2)				$ (304.2)
Balance (in shares) at Dec. 31, 2015		40,507,313			15,696,543
Balance at Dec. 31, 2015	314.5	$ 0.4	537.2	444.3	$ (663.9)	(3.5)
Comprehensive Income (Loss):
Net income	167.2			167.2
Change in fair value of cash flow swaps, net of reclassification adjustment and tax benefit/expense	1.4					1.4
Comprehensive income (loss)	168.6			167.2		1.4
Share-based compensation	12.0		12.0
Issuance of common stock in connection with share-based payment arrangements, including tax (deficit) benefit (in shares)		243,452
Issuance of common stock in connection with share-based payment arrangements, including tax (deficit) benefit	0.2		0.2
Repurchase of common stock associated with net share settlements of employee share-based awards (in shares)					70,411
Repurchase of common stock associated with net share settlements of employee share-based awards	(3.7)				$ (3.7)
Purchase of treasury shares (in shares)					3,730,642
Purchase of treasury shares	(211.9)				$ (211.9)
Balance (in shares) at Dec. 31, 2016		40,750,765			19,497,596
Balance at Dec. 31, 2016	279.7	$ 0.4	549.4	611.5	$ (879.5)	(2.1)
Comprehensive Income (Loss):
Net income	139.1			139.1
Change in fair value of cash flow swaps, net of reclassification adjustment and tax benefit/expense	1.2					1.2
Comprehensive income (loss)	140.3			139.1		1.2
Cumulative Effect Adjustment of ASU 2016-09 (Note 2)	0.2		0.5	(0.3)
Share-based compensation	13.6		13.6
Issuance of common stock in connection with share-based payment arrangements, including tax (deficit) benefit (in shares)		219,222
Issuance of common stock in connection with share-based payment arrangements, including tax (deficit) benefit	0.0		0.0
Repurchase of common stock associated with net share settlements of employee share-based awards (in shares)					74,670
Repurchase of common stock associated with net share settlements of employee share-based awards	(4.8)				$ (4.8)
Purchase of treasury shares (in shares)					584,696
Purchase of treasury shares	(34.8)				$ (34.8)
Balance (in shares) at Dec. 31, 2017		40,969,987			20,156,962
Balance at Dec. 31, 2017	$ 394.2	$ 0.4	$ 563.5	$ 750.3	$ (919.1)	$ (0.9)

CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statement of Stockholders' Equity [Abstract]
Change in fair value of cash flow swaps, tax	$ (0.7)	$ 0.9	$ (1.1)
Issuance of common stock in connection with share-based payment arrangements, tax		$ 0.2	$ 4.6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
CASH FLOW FROM OPERATING ACTIVITIES:
Net income	$ 139,100,000	$ 167,200,000	$ 169,200,000
Adjustments to reconcile net income to net cash provided by operating activities—
Depreciation and amortization	32,100,000	30,700,000	29,500,000
Share-based compensation	13,600,000	12,000,000	10,000,000
Deferred income taxes	2,800,000	6,100,000	9,500,000
Franchise rights impairment	5,100,000	0	0
Non-cash impairment charges	0	3,600,000	0
Loaner vehicle amortization	22,400,000	21,500,000	19,000,000
Gain on divestitures	0	(45,500,000)	(34,900,000)
Other adjustments, net	4,300,000	4,100,000	4,200,000
Changes in operating assets and liabilities, net of acquisitions and divestitures—
Contracts-in-transit	(10,700,000)	(6,900,000)	(20,100,000)
Accounts receivable	10,200,000	(19,500,000)	(11,200,000)
Inventories	251,500,000	105,300,000	50,100,000
Other current assets	(197,200,000)	(152,200,000)	(118,400,000)
Floor plan notes payable—trade, net	(4,100,000)	(17,200,000)	11,200,000
Accounts payable and accrued liabilities	(2,600,000)	31,400,000	37,700,000
Other long-term assets and liabilities, net	(200,000)	1,900,000	4,200,000
Net cash provided by operating activities	266,300,000	142,500,000	160,000,000
CASH FLOW FROM INVESTING ACTIVITIES:
Capital expenditures—excluding real estate	(42,300,000)	(81,400,000)	(71,700,000)
Capital expenditures—real estate	(5,800,000)	(10,600,000)	(30,300,000)
Purchases of previously leased real estate	(5,400,000)	(19,600,000)	0
Acquisitions	(80,100,000)	0	(69,400,000)
Divestitures	0	114,300,000	105,900,000
Proceeds from the sale of assets	5,800,000	2,200,000	3,600,000
Net cash used in investing activities	(127,800,000)	4,900,000	(61,900,000)
CASH FLOW FROM FINANCING ACTIVITIES:
Floor plan borrowings—non-trade	3,850,300,000	3,866,300,000	4,130,300,000
Floor plan borrowings—acquisitions	25,100,000	0	16,700,000
Floor plan repayments—non-trade	(3,921,000,000)	(3,748,300,000)	(4,168,800,000)
Floor plan repayments—divestitures	0	(31,200,000)	(44,000,000)
Proceeds from borrowings	0	0	293,100,000
Repayments of borrowings	(52,000,000)	(15,200,000)	(11,300,000)
Payment of debt issuance costs	0	(2,800,000)	(2,000,000)
Repurchases of common stock, including amounts associated with net share settlements of employee share-based awards	(39,600,000)	(215,600,000)	(312,200,000)
Net cash used in financing activities	(137,200,000)	(146,800,000)	(98,200,000)
Net decrease in cash and cash equivalents	1,300,000	600,000	(100,000)
CASH AND CASH EQUIVALENTS, beginning of period	3,400,000	2,800,000	2,900,000
CASH AND CASH EQUIVALENTS, end of period	$ 4,700,000	$ 3,400,000	$ 2,800,000

DESCRIPTION OF BUSINESS	12 Months Ended
DESCRIPTION OF BUSINESS	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS	DESCRIPTION OF BUSINESS We are one of the largest automotive retailers in the United States. As of December 31, 2017 we owned and operated 94 new vehicle franchises (80 dealership locations), representing 29 brands of automobiles, and 24 collision centers, in 17 metropolitan markets, within nine states. Our stores offer an extensive range of automotive products and services, including new and used vehicles, repair and maintenance services, collision repair services, and finance and insurance products. As of December 31, 2017, our new vehicle revenue brand mix consisted of 46% imports, 34% luxury, and 20% domestic brands. Our operating results are generally subject to seasonal variations. Demand for new vehicles is generally highest during the second, third, and fourth quarters of each year and, accordingly, we expect our revenues to generally be higher during these periods. In addition, we typically experience higher sales of luxury vehicles in the fourth quarter, which have higher average selling prices and gross profit per vehicle retailed. Revenues and operating results may be impacted significantly from quarter to quarter by changing economic conditions, vehicle manufacturer incentive programs, or adverse weather events.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2017

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"), and reflect the consolidated accounts of Asbury Automotive Group, Inc. and our wholly owned subsidiaries. All intercompany transactions have been eliminated in consolidation. In addition, certain reclassifications of amounts previously reported have been made to the accompanying Consolidated Financial Statements in order to conform to current presentation.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of revenues and expenses during the periods presented. Actual results could differ materially from these estimates. Estimates and assumptions are reviewed quarterly, and the effects of any revisions are reflected in the consolidated financial statements in the period they are determined to be necessary. Significant estimates made in the accompanying consolidated financial statements include, but are not limited to, those relating to inventory valuation reserves, reserves for chargebacks against revenue recognized from the sale of finance and insurance products, reserves for insurance programs, certain assumptions related to intangible and long-lived assets, and reserves for certain legal or similar proceedings relating to our business operations.

Cash and Cash Equivalents

Cash and cash equivalents include investments in money market accounts and short-term certificates of deposit, which have maturity dates of less than 90 days when purchased.

Contracts-In-Transit

Contracts-in-transit represent receivables from third-party finance companies for the portion of new and used vehicle purchase price financed by customers through sources arranged by us.

Inventories

Inventories are stated at the lower of cost and net realizable value. We use the specific identification method to value vehicle inventories and the "first-in, first-out" method ("FIFO") to account for our parts inventories. Our new vehicle sales histories have indicated that the vast majority of the new vehicles we sell are sold for, or in excess of, our cost to purchase those vehicles. Therefore, we generally do not maintain a reserve for new vehicle inventory. We maintain a reserve for used vehicle inventory where cost basis exceeds net realizable value. In assessing lower of cost and net realizable value for used vehicles, we consider (i) the aging of our used vehicles, (ii) historical sales experience of used vehicles, and (iii) current market conditions and trends in used vehicle sales. We also review and consider the following metrics related to used vehicle sales (both on a recent and longer-term historical basis): (i) days of supply in our used vehicle inventory, (ii) used vehicle units sold at less than original cost as a percentage of total used vehicles sold, and (iii) average vehicle selling price of used vehicle units sold at less than original cost. We then determine the appropriate level of reserve required to reduce our used vehicle inventory to the lower of cost and net realizable value, and record the resulting adjustment in the period in which we determine a loss has occurred. The level of reserve determined to be appropriate for each reporting period is considered to be a permanent inventory write-down, and therefore is only released upon the sale of the related inventory.

We receive assistance from certain automobile manufacturers in the form of advertising and floor plan interest credits. Manufacturer advertising credits that are reimbursements of costs associated with specific advertising programs are recognized as a reduction of advertising expense in the period they are earned. All other manufacturer advertising and floor plan interest credits are accounted for as purchase discounts, and are recorded as a reduction of inventory and recognized as a reduction to New Vehicle Cost of Sales in the accompanying Consolidated Statements of Income in the period the related vehicle is sold.

Property and Equipment

Property and equipment are recorded at cost and depreciated using the straight-line method over their estimated useful lives. Depreciation is included in Depreciation and Amortization on the accompanying Consolidated Statements of Income. Leasehold improvements are capitalized and amortized over the lesser of the life of the lease or the useful life of the related asset. The ranges of estimated useful lives are as follows (in years):



Buildings and improvements	10-40
Machinery and equipment	5-10
Furniture and fixtures	3-10
Company vehicles	3-5

Expenditures for major additions or improvements, which extend the useful lives of assets, are capitalized. Minor replacements, maintenance and repairs, which do not improve or extend the lives of such assets, are expensed as incurred. We capitalize interest on borrowings during the active construction period of capital projects. Capitalized interest is added to the cost of the assets and is depreciated over the estimated useful lives of the assets.

We review property and equipment for impairment whenever events or changes in circumstances indicate the carrying value may not be recoverable. When we test our long-lived assets for impairment, we first compare the carrying amount of the underlying assets to their net recoverable value by reviewing the undiscounted cash flows expected from the use and eventual disposition of the underlying assets. If the carrying amount of the underlying assets is less than their net recoverable value, then we calculate an impairment equal to the excess of the carrying amount over the fair market value, and the impairment loss would be charged to operations in the period identified. As a result of impairment tests conducted in 2017, 2016, and 2015, we did not record an impairment of our property and equipment.

Acquisitions

Acquisitions are accounted for under the acquisition method of accounting, and the assets acquired and liabilities assumed are recorded at their fair value, at the acquisition date. The results of operations of acquired dealerships are included in the accompanying Consolidated Statements of Income, commencing on the date of acquisition.

Goodwill and Other Intangible Assets

Goodwill represents the excess cost of an acquired business over the fair market value of its identifiable net assets. We have determined that, based on how we integrate acquisitions into our business, how the components of our business share resources and interact with one another, and how we review the results of our operations, that we have several geographic market-based operating segments. We have determined that the dealerships in each of our operating segments are components that are aggregated into several geographic market-based reporting units for the purpose of testing goodwill for impairment, as they (i) have similar economic characteristics, (ii) offer similar products and services (all of our dealerships offer new and used vehicles, service, parts and third-party finance and insurance products), (iii) have similar customers, (iv) have similar distribution and marketing practices (all of our dealerships distribute products and services through dealership facilities that market to customers in similar ways), and (v) operate under similar regulatory environments.

Our only significant identifiable intangible assets, other than goodwill, are our rights under franchise agreements with manufacturers, which are recorded at an individual franchise level. The fair value of our manufacturer franchise rights are determined at the acquisition date, by discounting the projected cash flows specific to each franchise. We have determined that manufacturer franchise rights have an indefinite life, as there are no economic, contractual or other factors that limit their useful lives, and they are expected to generate cash flows indefinitely due to the historically long lives of the manufacturers' brand names. Furthermore, to the extent that any agreements evidencing our manufacturer franchise rights would expire, we expect that we would be able to renew those agreements in the ordinary course of business.

Goodwill and manufacturer franchise rights are deemed to have indefinite lives and therefore are not subject to amortization. We review goodwill and manufacturer franchise rights for impairment annually as of October 1^st, or more often if events or circumstances indicate that impairment may have occurred. We are subject to financial statement risk to the extent that goodwill becomes impaired due to decreases in the fair value of our automotive retail business or manufacturer franchise rights become impaired due to decreases in the fair value of our individual franchises.

Debt Issuance Costs

Debt issuance costs are presented as a contra-liability within Current Maturities of Long-Term Debt or Long-Term Debt on our Consolidated Balance Sheets, except for debt issuance costs associated with our line-of-credit arrangements, which are presented as an asset within Other Current Assets or Other Long-Term Assets on our Consolidated Balance Sheets. Debt issuance costs are amortized to Floor Plan Interest Expense and Other Interest Expense, net in the accompanying Consolidated Statements of Income through maturity using the effective interest method.

Derivative Instruments and Hedging Activities

From time to time, we utilize derivative financial instruments to manage our interest rate risk. The types of risks hedged are those relating to the variability of cash flows caused by fluctuations in interest rates. We document our risk management strategy and assess hedge effectiveness at each interest rate swaps inception and during the term of each hedge. Derivatives are reported at fair value on the accompanying Consolidated Balance Sheets.

The effective portion of the gain or loss on our hedges is reported as a component of Accumulated Other Comprehensive Loss on the accompanying Consolidated Balance Sheets, and reclassified to Swap Interest Expense in the accompanying Consolidated Statements of Income in the period during which the hedged transaction affects earnings.

Measurements of hedge effectiveness are based on comparisons between the gains or losses of the actual interest rate swaps and the gains or losses of hypothetical interest rate swaps, which have the same critical terms of the defined hedged items. Ineffective portions of these interest rate swaps are reported as a component of Swap Interest Expense in the accompanying Consolidated Statements of Income, in the period during which any ineffectiveness is identified.

Insurance

We are self-insured for employee medical claims and maintain stop loss insurance for large-dollar individual claims. We have high deductible insurance programs for workers compensation, property and general liability claims. We maintain and review our claim and loss history to assist in assessing our expected future liability for these claims. We also use professional service providers, such as account administrators and actuaries, to help us accumulate and assess this information. Provisions for retained losses and deductibles are made by charges to expense based upon periodic evaluations of the estimated ultimate liabilities on reported and unreported claims.

Revenue Recognition

Revenue from the sale of new and used vehicles (which excludes sales tax) is recognized upon the latest of delivery, signing of the sales contract or approval of financing. Revenue from the sale of parts, service and collision repair work (which excludes sales tax) is recognized upon delivery of parts to the customer or at the time vehicle service or repair work is completed, as applicable. Manufacturer incentives and rebates, including manufacturer holdbacks, floor plan interest assistance and certain advertising assistance, are recognized as a reduction of New Vehicle Cost of Sales at the time the related vehicles are sold, in the accompanying Consolidated Statements of Income.

We receive commissions from third-party lending and insurance institutions for arranging customer financing and from the sale of vehicle service contracts, guaranteed auto protection (known as "GAP") insurance, and other insurance, to customers (collectively "F&I"). We may be charged back for F&I commissions in the event a contract is prepaid, defaulted upon, or terminated ("chargebacks"). F&I commissions are recorded at the time a vehicle is sold and a reserve for future chargebacks is established based on historical chargeback experience and the termination provisions of the applicable contract. F&I commissions, net of estimated future chargebacks, are included in Finance and Insurance, net in the accompanying Consolidated Statements of Income. Additionally, we participate in future profits associated with the performance of the third-party held underlying portfolio for certain products, pursuant to retrospective commission arrangements. Our retrospective portfolio income is recorded as revenue at the time it is received from our third-party providers.

Internal Profit

Revenues and expenses associated with internal work performed by our parts and service departments on new and used vehicle inventory are eliminated in consolidation. The gross profit earned by our parts and service departments for internal work performed is included as a reduction of Parts and Service Cost of Sales on the accompanying Consolidated Statements of Income upon the sale of the vehicle. The costs incurred by our new and used vehicle departments for work performed by our parts and service departments is included in either New Vehicle Cost of Sales or Used Vehicle Cost of Sales on the accompanying Consolidated Statements of Income, depending on the classification of the vehicle serviced. We maintain a reserve to eliminate the internal profit on vehicles that have not been sold.

Share-Based Compensation

We record share-based compensation expense under the fair value method on a straight-line basis over the vesting period, unless the awards are subject to performance conditions, in which case we recognize the expense over the requisite service period of each separate vesting tranche.

Earnings per Common Share

Basic earnings per common share is computed by dividing net income by the weighted-average common shares outstanding during the period. Diluted earnings per common share is computed by dividing net income by the weighted-average common shares and common share equivalents outstanding during the period. For all periods presented, there were no adjustments to the numerator necessary to compute diluted earnings per share.

Advertising

We expense costs of advertising as incurred and production costs when the advertising initially takes place, net of certain advertising credits and other discounts received from certain automobile manufacturers. Advertising expense from continuing operations totaled $30.3 million, $34.0 million and $40.1 million for the years ended December 31, 2017, 2016 and 2015, which was net of earned advertising credits of $18.0 million, $16.8 million, and $17.1 million, respectively, and is included in Selling, General, and Administrative expense in the accompanying Consolidated Statements of Income.

Income Taxes

We use the liability method to account for income taxes. Under this method, deferred tax assets and liabilities are recognized for the expected future tax consequences of differences between the carrying amounts of assets and liabilities and their respective tax basis using currently enacted tax rates. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period when the change is enacted. Deferred tax assets are reduced by a valuation allowance when it is more likely than not that some portion or all the deferred tax assets will not be realized.

Discontinued Operations

We evaluated our dealership divestitures in 2016 and 2015, and determined that none of our dealership divestitures would be considered discontinued operations.

Assets Held for Sale and Liabilities Associated with Assets Held for Sale

Certain amounts have been classified as Assets Held for Sale as of December 31, 2017 and 2016 in the accompanying Consolidated Balance Sheets. Assets and liabilities classified as held for sale include assets and liabilities associated with pending dealership disposals, real estate not currently used in our operations that we are actively marketing to sell, and any related mortgage notes payable, if applicable. Classification as held for sale begins on the date that we have met all of the criteria for classification as held for sale.

At the time of classifying assets as held for sale, we compare the carrying value of these assets to estimates of fair value to assess for impairment. We compare the carrying value to estimates of fair value utilizing the assistance of third-party broker opinions of value and third-party desktop appraisals to assist in our fair value estimates related to real estate properties.

Statements of Cash Flows

Borrowings and repayments of floor plan notes payable to a lender unaffiliated with the manufacturer from which we purchase a particular new vehicle ("Non-Trade") and all floor plan notes payable relating to pre-owned vehicles (together referred to as "Floor Plan Notes Payable—Non-Trade"), are classified as financing activities on the accompanying Consolidated Statements of Cash Flows, with borrowings reflected separately from repayments. The net change in floor plan notes payable to a lender affiliated with the manufacturer from which we purchase a particular new vehicle (collectively referred to as "Floor Plan Notes Payable—Trade") is classified as an operating activity on the accompanying Consolidated Statements of Cash Flows. Borrowings of floor plan notes payable associated with inventory acquired in connection with all acquisitions and repayments made in connection with all divestitures are classified as a financing activity in the accompanying Consolidated Statement of Cash Flows. Cash flows related to floor plan notes payable included in operating activities differ from cash flows related to floor plan notes payable included in financing activities only to the extent that the former are payable to a lender affiliated with the manufacturer from which we purchased the related inventory, while the latter are payable to a lender not affiliated with the manufacturer from which we purchased the related inventory.

Loaner vehicles account for a significant portion of Other Current Assets. We acquire loaner vehicles either with available cash or through borrowings from either our manufacturer affiliated lenders or through our senior secured credit agreement with Bank of America, as administrative agent, and the other agents and lenders party thereto (the "2016 Senior Credit Facility"). Loaner vehicles are initially used by our service department for only a short period of time (typically 6 to 12 months) before we seek to sell them. Therefore, we classify the acquisition of loaner vehicles in Other Current Assets and the borrowings and repayments of loaner vehicle notes payable in Accounts Payable and Accrued Liabilities in the accompanying Consolidated Statements of Cash Flows. Loaner vehicles are depreciated over the service period to their estimated value. At the end of the loaner service period, loaner vehicles are transferred from Other Current Assets to used vehicle inventory. These transfers are reflected as non-cash transfers between Other Current Assets and Inventory in the accompanying Consolidated Statements of Cash Flows.

Business and Credit Concentration Risk

Financial instruments, which potentially subject us to a concentration of credit risk, consist principally of cash deposits. We maintain cash balances at financial institutions with strong credit ratings. Generally, amounts maintained with these financial institutions are in excess of FDIC insurance limits.

We have substantial debt service obligations. As of December 31, 2017, we had total debt of $879.3 million, excluding floor plan notes payable, the debt premium on the 6.0% Senior Subordinated Notes due 2024 ("6.0% Notes"), and debt issuance costs. In addition, we and our subsidiaries have the ability to obtain additional debt from time to time to finance acquisitions, real property purchases, capital expenditures, share repurchases or for other purposes, although such borrowings are subject to the restrictions contained in the second amended and restated senior secured credit agreement with Bank of America, N.A. ("Bank of America"), as administrative agent, and the other lenders party thereto (the "2016 Senior Credit Facility") and the indenture governing our 6.0% Senior Subordinated Notes due 2024 (the "Indenture"). We will have substantial debt service obligations, consisting of required cash payments of principal and interest, for the foreseeable future.

We are subject to operating and financial restrictions and covenants in certain of our leases and in our debt instruments, including the 2016 Senior Credit Facility, the Indenture, and the credit agreements covering our mortgage obligations. These agreements contain restrictions on, among other things, our ability to incur additional indebtedness, to create liens or other encumbrances, and to make certain payments (including dividends and repurchases of our shares and investments). These agreements may also require us to maintain compliance with certain financial and other ratios. Our failure to comply with any of these covenants in the future would constitute a default under the relevant agreement, which would, depending on the relevant agreement, (i) entitle the creditors under such agreement to terminate our ability to borrow under the relevant agreement and accelerate our obligations to repay outstanding borrowings; (ii) require us to apply our available cash to repay these borrowings; (iii) entitle the creditors under such agreement to foreclose on the property securing the relevant indebtedness; and/or (iv) prevent us from making debt service payments on certain of our other indebtedness, any of which would have a material adverse effect on our business, financial condition or results of operations. In many cases, a default under one of our debt or mortgage, agreements could trigger cross-default provisions in one or more of our other debt or mortgages.

A number of our dealerships are located on properties that we lease. Each of the leases governing such properties has certain covenants with which we must comply. If we fail to comply with the covenants under our leases, the respective landlords could terminate the leases and seek damages from us.

Concentrations of credit risk with respect to contracts-in-transit and accounts receivable are limited primarily to automotive manufacturers and financial institutions. Credit risk arising from receivables from commercial customers is minimal due to the large number of customers comprising our customer base.

A significant portion of our new vehicle sales are derived from a limited number of automotive manufacturers. For the year ended December 31, 2017, manufacturers representing 5% or more of our revenues from new vehicle sales were as follows:



Manufacturer (Vehicle Brands):	% of Total New Vehicle Revenues
American Honda Motor Co., Inc. (Honda and Acura)	22	%
Toyota Motor Sales, U.S.A., Inc. (Toyota and Lexus)	18	%
Nissan North America, Inc. (Nissan and Infiniti)	15	%
Ford Motor Company (Ford and Lincoln)	12	%
Mercedes-Benz USA, LLC (Mercedes-Benz, Smart and Sprinter)	8	%
BMW of North America, LLC (BMW and Mini)	6	%

No other manufacturers individually accounted for more than 5% of our total new vehicle revenue for the year ended December 31, 2017.

Segment Reporting

Our operations are organized by management into geographic market-based dealership groups. Our Chief Operating Decision Maker is our Chief Executive Officer who manages the business, regularly reviews financial information and allocates resources at the geographic market level. The geographic operating segments have been aggregated into one reportable segment as their operations (i) have similar economic characteristics (our markets all have similar long-term average gross margins), (ii) offer similar products and services (all of our markets offer new and used vehicles, parts and service, and third-party finance and insurance products), (iii) have similar customers, (iv) have similar distribution and marketing practices (all of our markets distribute products and services through dealership facilities that market to customers in similar ways), and (v) operate under similar regulatory environments.

Recent Accounting Pronouncements

In March 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update ("ASU") 2016-09, Compensation—Stock Compensation (Topic 718), to simplify certain aspects of the accounting for share-based payment transactions to employees. The new standard requires excess tax benefits and tax deficiencies to be recorded in the statements of income as a component of the provision for income taxes when stock awards vest or are settled. In addition, it eliminates the requirement to reclassify cash flows related to excess tax benefits from operating activities to financing activities on the consolidated statements of cash flows. The standard also provides an accounting policy election to account for forfeitures as they occur, allows us to withhold more of an employee’s vesting shares for tax withholding purposes without triggering liability accounting, and clarifies that all cash payments made to tax authorities on an employee’s behalf for withheld shares should be presented as a financing activity on our statements of cash flows.

We adopted the new standard January 1, 2017, upon which excess tax benefits or deficiencies from share-based award activity were reflected in the Condensed Consolidated Statements of Income as a component of the provision for income taxes, whereas they previously were recognized in equity. We also elected to account for forfeitures as they occur, rather than estimate expected forfeitures. The adoption of ASU 2016-09 resulted in a cumulative-effect adjustment of $0.5 million (pre-tax) to reduce retained earnings and increase additional paid-in capital as of January 1, 2017, related to our election to account for forfeitures as they occur.

We adopted the aspects of the standard affecting the cash flow presentation retrospectively, and accordingly, to conform to the current year presentation, we reclassified $0.2 million and $4.6 million of excess tax benefits under financing activities to operating activities for years ended December 31, 2016 and 2015, respectively, within our Condensed Consolidated Statements of Cash Flows. The presentation requirements for cash flows related to employee taxes paid for withheld shares had no impact on any of the periods presented on our consolidated statements of cash flows since such cash flows have historically been presented as a financing activity.

In July 2015, the FASB issued ASU 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory, changing the subsequent measurement guidance from the lower of cost or market to the lower of cost and net realizable value. We adopted this standard, beginning January 1, 2017, and its adoption did not have an impact on our consolidated financial statements.

In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606), a new standard on revenue recognition. Further, the FASB has issued a number of additional ASUs regarding the new revenue recognition standard. The new standard, as amended, will supersede existing revenue recognition guidance and apply to all entities that enter into contracts to provide goods or services to customers. The guidance also addresses the measurement and recognition of gains and losses on the sale of certain non-financial assets, such as real estate, property, and equipment. The new standard became effective for us on January 1, 2018, and was applied to open contracts as of that date using the modified retrospective approach. We have reached conclusions on all key accounting assessments and are substantially complete with the implementation of new processes and internal controls related to the impact from adopting the standard. We have determined that the timing of recognition for new and used vehicle sales and the sale of vehicle parts will generally remain the same. However, we have identified the timing of recognition for revenue associated with vehicle repair and maintenance services as well as revenue associated with arranging the sale of certain insurance products to be affected by the new standard.

Under the new standard, revenue for vehicle repair and maintenance services will be accelerated and recognized as we satisfy our performance obligation. We determined that parts and labor are not individually distinct in the context of a vehicle repair order and therefore considered a single performance obligation. In addition, satisfaction of this performance obligation creates an asset with no alternative use for which an enforceable right to payment for performance to date exists within our contractual agreements.

We participate in future profits pursuant to retrospective commission arrangements, which meet the definition of variable consideration under the new standard, for certain insurance products associated with a third-party portfolio. The new standard requires that the transaction price include an estimate of variable consideration, subject to a constraint, and recognized when or as an entity satisfies its performance obligation. Our performance obligation is to arrange the sale of insurance contracts between the end-user and third-party, and is satisfied at the point of sale. As a result, the transaction price includes both up-front commissions and retrospective commissions. Based on our evaluation of the qualitative and quantitative constraint factors, we determined that a portion of retrospective commissions will be included in the transaction price at the time of sale. The remaining amount will be recognized when uncertainties associated with the constraint are removed.

The Company is in the process of finalizing its estimate of the cumulative effect adjustment, pending certain data and considerations of the appropriate level of constraint. The Company expects to complete its calculation in the first quarter of adoption.

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), a new standard on lease accounting. The new standard will supersede the existing lease accounting guidance and apply to all entities. The guidance defines new principles for the recognition, measurement, presentation, and disclosure of leases for both lessees and lessors. The new standard will become effective for us on January 1, 2019. A modified retrospective transition approach is required for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. While we are still evaluating the impact of this standard, we expect that the right-of-use assets and the associated lease liabilities will be material to our financial statements. We are unable to quantify the impact at this time as the ultimate impact of adopting this new standard will depend on the total amount of our lease commitments as of the adoption date.

In January 2017, the FASB issued ASU No. 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test of Goodwill Impairment. This new standard eliminates Step 2 from the goodwill impairment test. Under the amendments in ASU No. 2017-04, an entity should recognize an impairment charge for the amount by which the carrying amount of a reporting unit exceeds that reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. We elected to early adopt this new standard as of October 1, 2017, during our annual impairment assessment of goodwill. The adoption of this new standard did not have an impact on our consolidated financial position or results of operations.

In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. This new standard is intended to simplify hedge accounting by better aligning how an entity’s risk management activities and hedging relationships are presented in its financial statements and simplifies the application of hedge accounting guidance in certain situations. This new standard expands and refines hedge accounting for both non-financial and financial risk components and aligns the recognition and presentation of the effects of the hedging instrument and the hedged item in the financial statements. This new standard will become effective for us on January 1, 2019; however, early adoption is permitted. For cash flow hedges existing at the adoption date, this new standard requires adoption on a modified retrospective basis with a cumulative-effect adjustment to retained earnings as of the effective date. The amendments to presentation guidance and disclosure requirements are required to be adopted prospectively. We are currently evaluating the date upon which we will adopt this new standard and the impact this new standard may have on our consolidated financial statements.

ACQUISITIONS AND DIVESTITURES

12 Months Ended

Dec. 31, 2017

Business Combinations and Divestitures [Abstract]

ACQUISITIONS AND DIVESTITURES

Results of acquired dealerships are included in our accompanying Consolidated Statements of Income commencing on the date of acquisition. Our acquisitions are accounted for using the acquisition method of accounting, which requires, among other things, that the assets acquired and liabilities assumed be recognized at their acquisition date fair values, with any excess of the consideration transferred over the estimated fair values of the identifiable net assets acquired recorded as goodwill. Goodwill is an asset representing operational synergies and future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

During the year ended December 31, 2017, we acquired the assets of two franchises (two dealership locations) and one collision center in the Indianapolis, Indiana market for a combined purchase price of $80.1 million. We financed these acquisitions with $55.0 million of cash and $25.1 million of floor plan borrowings for the purchase of the related new vehicle inventory. We did not acquire any dealerships during the year ended December 31, 2016.

Below is the allocation of purchase price for these acquisitions. Goodwill and manufacturer franchise rights associated with our acquisitions will be deductible for federal and state income tax purposes ratably over a 15-year period.



	2017
	(In millions)
Inventory	$	25.9
Real estate	12.2
Property and equipment	1.4
Goodwill	32.7
Manufacturer franchise rights	6.2
Loaner and rental vehicles	3.2
Liabilities assumed	$	(1.5	)
Total purchase price	$	80.1

We did not sell any dealerships during the year ended December 31, 2017.

During the year ended December 31, 2016, we sold the remaining five franchises (four dealership locations) and two collision centers in the Little Rock, AR market. We recorded a gain associated with the sale of the franchises totaling $45.5 million ($28.4 million net of tax) in our accompanying Consolidated Statements of Income.

During the year ended December 31, 2015, we sold two franchises (two dealership locations) in Princeton, NJ; one franchise in the St. Louis, MO market; one collision center in Austin, TX; and four franchises (three dealership locations) in the Little Rock, AR market. We recorded a gain associated with the sale of the franchises totaling $34.9 million ($21.6 million net of tax) in our accompanying Consolidated Statements of Income.

Our 2016 and 2015 divestitures are not considered significant subsidiaries as defined in Rule 1-02(w) of Regulation S-X.

ACCOUNTS RECEIVABLE

12 Months Ended

Dec. 31, 2017

Receivables [Abstract]

ACCOUNTS RECEIVABLE

Accounts receivable consisted of the following:



	As of December 31,
	2017			2016
	(In millions)
Vehicle receivables	$	48.3		$	53.2
Manufacturer receivables	47.0			45.5
Other receivables	34.8			41.6
Total accounts receivable	130.1			140.3
Less—Allowance for doubtful accounts	(1.6		)	(1.9		)
Accounts receivable, net	$	128.5		$	138.4

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References + Details

ASSETS HELD FOR SALE	12 Months Ended
ASSETS HELD FOR SALE	Dec. 31, 2017
Discontinued Operations and Disposal Groups [Abstract]
ASSETS HELD FOR SALE	ASSETS HELD FOR SALE Assets held for sale, comprising real estate not currently used in our operations and that we are actively marketing to sell, totaled $30.3 million and $16.1 million as of December 31, 2017 and 2016, respectively, and there were no liabilities associated with the real estate assets held for sale. Additionally, during the years ended December 31, 2017 and 2016, we sold two vacant properties with a total net book value of $5.7 million and one vacant property with a net book value of $2.3 million, respectively. During the year ended December 31, 2016, we recorded $2.7 million of impairment expense related to real estate properties we were actively marketing to sell, based on offers received from prospective buyers and third-party brokers' opinion of value. We did not record any impairment expense associated with real estate properties that we were actively marketing to sell during the years ended December 31, 2017 or 2015. In addition to the above impairments, during the year ended December 31, 2016, we recognized a $0.9 million non-cash impairment associated with a lease buyout and lease termination related to real estate not classified as held for sale. This was recorded in Other Operating Expenses (Income), net in our accompanying Consolidated Statements of Income.

PROPERTY AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT, NET

Property and equipment, net consisted of the following:



	As of December 31,
	2017			2016
	(In millions)
Land	$	303.9		$	307.7
Buildings and leasehold improvements	582.0			530.2
Machinery and equipment	93.7			84.0
Furniture and fixtures	61.7			57.7
Company vehicles	8.8			8.8
Construction in progress	22.4			37.8
Gross property and equipment	1,072.5			1,026.2
Less—Accumulated depreciation	(238.3		)	(210.8		)
Property and equipment, net	$	834.2		$	815.4

During the years ended December 31, 2017, 2016, and 2015, we capitalized $0.2 million, $1.1 million, and $0.2 million, respectively, of interest in connection with various capital projects to upgrade or remodel our facilities. Depreciation expense was $32.1 million, $30.7 million, and $29.5 million for the years ended December 31, 2017, 2016, and 2015, respectively.

GOODWILL AND INTANGIBLE FRANCHISE RIGHTS

12 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE FRANCHISE RIGHTS

Our acquisitions have resulted in the recording of goodwill and intangible franchise rights. Goodwill is an asset representing operational synergies and future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Intangible franchise rights is an asset representing our rights under franchise agreements with vehicle manufacturers. The changes in goodwill and intangible franchise rights for the years ended December 31, 2017 and 2016 are as follows:



	Goodwill
	(In millions)
Balance as of December 31, 2015 (a)	$	130.2
Divestitures	(2.1		)
Balance as of December 31, 2016 (a)	128.1
Acquisitions	32.7
Balance as of December 31, 2017 (a)	$	160.8

______________________________


(a)	Net of accumulated impairment losses of $537.7 million recorded prior to the year ended December 31, 2015.



	Intangible Franchise Rights
	(In millions)
Balance as of December 31, 2015 and December 31, 2016	$	48.5
Acquisitions	6.2
Divestitures	—
Impairments	(5.1		)
Balance as of December 31, 2017	$	49.6

We elected to perform a quantitative impairment assessment for both goodwill and intangible franchise rights as of October 1, 2017.

The quantitative goodwill impairment assessment involves determination of whether the fair value of a reporting unit exceeds its carrying value. Concurrent with our annual assessment, we adopted ASU 2017-04 (refer to Note 2) to perform our goodwill impairment testing. Under the new standard, goodwill impairment is recognized based on the difference between the carrying value of a reporting unit and its fair value. However, the impairment amount is limited to the total amount of goodwill allocated to a reporting unit. The Company uses an income approach to determine the fair value of its reporting units. The income approach model used for goodwill valuation is consistent with the model used for intangible franchise rights discussed below except that cash flows from the entire business enterprise (for each reporting unit) are used for goodwill valuation. Based on our testing results, we concluded the fair value for each of our reporting units exceeded its carrying value.

The quantitative impairment test for franchise rights includes comparison of the estimated fair value to the carrying value for each of our intangible franchise rights. The Company estimates fair value by using a discounted cash flow model (income approach) based on assumptions related to the cash flows directly attributable to the franchise. These assumptions include growth rates, working capital requirements, weighted average cost of capital, future gross margins, and future selling, general, and administrative expenses. In connection with our testing, we identified that the carrying values of certain of our intangible franchise rights exceeded fair value and, as a result, recognized $5.1 million in pre-tax non-cash impairment charges.

For our October 1, 2016 annual impairment assessments, we performed a qualitative assessment for both goodwill and manufacturer franchise rights. Based on our qualitative assessment regarding goodwill impairment, we determined that it was more likely than not that the fair value exceeded the carrying value. During our qualitative assessment for intangible franchise rights, we determined certain of our intangible franchise rights required a quantitative assessment. Based on our quantitative assessment, we determined that it was more likely than not that the fair value exceeded the carrying value. For the remainder of our intangible franchise rights, we determined that it was more likely than not that the fair value exceeded the carrying value, based on our qualitative assessment and we were therefore not required to perform a quantitative test. As such, there were no impairment charges related to goodwill or intangible franchise rights recorded for the year ended December 31, 2016.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

FLOOR PLAN NOTES PAYABLE—TRADE

12 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

FLOOR PLAN NOTES PAYABLE—TRADE

We consider floor plan notes payable to a party that is affiliated with the entity from which we purchase our new vehicle inventory as Floor Plan Notes Payable—Trade on our Consolidated Balance Sheets. Floor plan notes payable—trade, net consisted of the following:



	As of December 31,
	2017			2016
	(In millions)
Floor plan notes payable—trade	$	114.8		$	120.0
Floor plan notes payable offset account	(10.6		)	(11.7		)
Total floor plan notes payable—trade, net	$	104.2		$	108.3

We have a floor plan facility with the Ford Motor Credit Company ("Ford Credit") to purchase new Ford and Lincoln vehicle inventory. Our floor plan facility with Ford Credit matures on December 5, 2019 and does not have a stated borrowing limitation.

During August 2016, we established a floor plan offset account with Ford Credit, that allows us to transfer cash as an offset to floor plan notes payable. These transfers reduce the amount of outstanding new vehicle floor plan notes payable that would otherwise accrue interest, while retaining the ability to transfer amounts from the offset account into our operating cash accounts within one to two days. As a result of using our floor plan offset account, we experience a reduction in Floor Plan Interest Expense on our Consolidated Statements of Income.

The representations and covenants contained in the agreement governing our floor plan facility with Ford Credit are customary for financing transactions of this nature. Further, the agreement governing our floor plan facility with Ford Credit also provides for events of default that are customary for financing transactions of this nature, including cross-defaults to other material indebtedness. Upon the occurrence of an event of default, the Company could be required to immediately repay all outstanding amounts under our floor plan facility with Ford Credit.

FLOOR PLAN NOTES PAYABLE—NON-TRADE

12 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

FLOOR PLAN NOTES PAYABLE—NON-TRADE

We consider floor plan notes payable to a party that is not affiliated with the entity from which we purchase our new vehicle inventory as Floor Plan Notes Payable—Non-Trade on our Consolidated Balance Sheets. Floor plan notes payable—non-trade, net consisted of the following:



	As of December 31,
	2017			2016
	(In millions)
Floor plan notes payable—non-trade	$	666.6		$	732.7
Floor plan notes payable offset account	(38.7		)	(59.2		)
Total floor plan notes payable—non-trade, net	$	627.9		$	673.5

On July 25, 2016, the Company and certain of its subsidiaries entered into a second amended and restated senior secured credit agreement with Bank of America, as administrative agent, and the other lenders party thereto. The 2016 Senior Credit Facility amended and restated the Company's pre-existing senior secured credit agreement, dated as of August 8, 2013, by and among the Company and certain of its subsidiaries and Bank of America, as administrative agent, and the other agents and lenders party thereto (the "Restated Credit Agreement").

The 2016 Senior Credit Facility provides for the following, in each case subject to limitations on availability as set forth therein:


•	a $250.0 million revolving credit facility (the "Revolving Credit Facility") with a $50.0 million sublimit for letters of credit;


•	a $900.0 million new vehicle revolving floor plan facility (the "New Vehicle Floor Plan Facility"); and


•	a $150.0 million used vehicle revolving floor plan facility (the "Used Vehicle Floor Plan Facility").

Subject to compliance with certain conditions, the agreement governing the 2016 Senior Credit Facility provides that the Company and its subsidiaries that are borrowers under the 2016 Senior Credit Facility (collectively, the "Borrowers") have the ability, at their option and subject to the receipt of additional commitments from existing or new lenders, to increase the size of the facilities by up to $325.0 million in the aggregate without lender consent.

At our option, we have the ability to re-designate a portion of our availability under our Revolving Credit Facility to the New Vehicle Floor Plan facility or the Used Vehicle Floor Plan Facility. The maximum amount we are allowed to re-designate is determined based on our current borrowing availability, less $50.0 million. In addition, we are able to re-designate any amounts moved to the New Vehicle Floor Plan Facility or Used Vehicle Floor Plan Facility back to the Revolving Credit Facility. As of December 31, 2017, we re-designated $190.0 million of availability under our Revolving Credit Facility to our New Vehicle Floor Plan Facility. We re-designated this amount to take advantage of the lower commitment fee rates on our new vehicle floor plan facility when compared to our revolving credit facility.

In connection, with the New Vehicle Floor Plan Facility, we established an account with Bank of America that allows us to transfer cash as an offset to floor plan notes payable. These transfers reduce the amount of outstanding new vehicle floor plan notes payable that would otherwise accrue interest, while retaining the ability to transfer amounts from the offset account into our operating cash accounts within one to two days. As a result of the use of our floor plan offset account, we experience a reduction in Floor Plan Interest Expense on our Consolidated Statements of Income.

In addition to using proceeds from borrowings under the 2016 Senior Credit Facility to repay amounts outstanding under the Restated Credit Agreement, proceeds from borrowings from time to time under the (i) Revolving Credit Facility may be used for, among other things, acquisitions, working capital and capital expenditures; (ii) New Vehicle Floor Plan Facility may be used to finance the acquisition of new vehicle inventory and to refinance new vehicle inventory at acquired dealerships; and (iii) Used Vehicle Floor Plan Facility may be used to finance the acquisition of used vehicle inventory and for, among other things, other working capital and capital expenditures.

Borrowings under the 2016 Senior Credit Facility bear interest, at the option of the Company, based on the London Interbank Offered Rate ("LIBOR") or the Base Rate, in each case plus an Applicable Margin. The Base Rate is the highest of the (i) Bank of America prime rate, (ii) Federal Funds rate plus 0.50%, and (iii) one month LIBOR plus 1.00%. Borrowings under the New Vehicle Floor Plan Facility bear interest, at the option of the Company, based on LIBOR plus 1.25% or the Base Rate plus 0.25%. Borrowings under the Used Vehicle Floor Plan Facility bear interest, at the option of the Company, based on LIBOR plus 1.50% or the Base Rate plus 0.50%. In addition to the payment of interest on borrowings outstanding under the 2016 Senior Credit Facility, we are required to pay a quarterly commitment fee of 0.15% per year on both the New Vehicle Facility Floor Plan and the Used Vehicle Facility Floor Plan Facility.

The 2016 Senior Credit Facility is guaranteed by each existing, and will be guaranteed by each future, direct and indirect domestic subsidiary of the Company, other than, at the option of the Company, certain immaterial subsidiaries. The 2016 Senior Credit Facility is also guaranteed by the Company. The obligations under each of the Revolving Credit Facility and the Used Vehicle Floor Plan Facility are collateralized by liens on substantially all of the present and future assets, other than real property, of the Company and the guarantors. The obligations under the New Vehicle Floor Plan Facility are collateralized by liens on substantially all of the present and future assets, other than real property, of the Borrowers under the New Vehicle Floor Plan Facility.

Each of the above provisions is subject to limitations on borrowing availability as set out in the 2016 Senior Credit Facility. Based on these borrowing base limitations, as of December 31, 2017 we had $88.8 million of borrowing availability under our used vehicle revolving floor plan facility. The 2016 Senior Credit Facility matures, and all amounts outstanding thereunder will be due and payable, on July 25, 2021.

See the "Representations and Covenants" section below under our "Long-Term Debt" footnote for a description of the representations, covenants and events of default contained in the 2016 Senior Credit Facility.

LONG-TERM DEBT

12 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

LONG-TERM DEBT

Long-term debt consisted of the following:



	As of December 31,
	2017			2016
	(In millions)
6.0% Senior Subordinated Notes due 2024	$	600.0		$	600.0
Mortgage notes payable bearing interest at fixed rates (the weighted average interest rate was 5.4% for the years ended December 31, 2017 and 2016)	139.1			182.8
Real estate credit agreement	48.5			51.5
Restated master loan agreement	88.5			93.6
Capital lease obligations	3.2			3.4
Total debt outstanding	879.3			931.3
Add—unamortized premium on 6.0% Senior Subordinated Notes due 2024	6.8			7.6
Less—debt issuance costs	(10.6		)	(12.2		)
Long-term debt, including current portion	875.5			926.7
Less—current portion, net of current portion of debt issuance costs	(12.9		)	(14.0		)
Long-term debt	$	862.6		$	912.7

The aggregate maturities of long-term debt as of December 31, 2017 are as follows (in millions):



2018	$	15.4
2019	39.9
2020	30.5
2021	13.7
2022	28.6
Thereafter	751.2
Total maturities of long-term debt	$	879.3

6.0% Senior Subordinated Notes due 2024

In December 2014, we completed a refinancing of certain of our long-term debt, which included the issuance of $400.0 million of 6.0% Notes, the proceeds of which were used to redeem the $300.0 million in outstanding aggregate principal of our 8.375% Senior Subordinated Notes due 2020 (the "8.375% Notes").

In October 2015, we completed an add-on issuance of $200.0 million aggregate principal amount of our 6.0% Notes at a price of 104.25% of par, plus accrued interest from June 15, 2015 (the "October 2015 Offering"). After deducting the initial purchasers' discounts and expenses we received net proceeds of approximately $210.2 million from this offering. The $8.5 million premium paid by the initial purchasers of the 6.0% Notes was recorded as a component of Long-Term Debt on our Consolidated Balance Sheet and is being amortized as a reduction of interest expense over the remaining term of the 6.0% Notes. Based on the amortization of the debt premium, the effective interest rate on the October 2015 Offering is 5.41%. In addition, we capitalized $3.8 million of costs associated with the issuance and sale of the 6.0% Notes, of which $2.8 million of underwriters fees were withheld from the proceeds received from the issuance. These costs are being amortized to interest expense over the remaining term of the 6.0% Notes using the effective interest method.

We are a holding company with no independent assets or operations. For all relevant periods presented, our 6.0% Notes have been fully and unconditionally guaranteed, on a joint and several basis, by substantially all of our subsidiaries. Any subsidiaries which have not guaranteed such notes are "minor" (as defined in Rule 3-10(h) of Regulation S-X). As of December 31, 2017, there were no significant restrictions on the ability of our subsidiaries to distribute cash to us or our guarantor subsidiaries.

Mortgage Notes Payable

We have multiple mortgage agreements with finance companies affiliated with our vehicle manufacturers ("captive mortgages") and other lenders. As of December 31, 2017 and 2016, we had total mortgage notes payable outstanding of $139.1 million and $182.8 million, respectively, which are collateralized by the associated real estate.

Real Estate Credit Agreement

We are currently party to a real estate term loan credit agreement with Bank of America, as the lender. The real estate credit agreement provides for term loans in an aggregate amount not to exceed $75.0 million, subject to customary terms and conditions. Term loans under the real estate credit agreement bear interest, at our option, based on the LIBOR plus 2.50% or the Base Rate (as described below) plus 1.50%. The Base Rate is the highest of (i) the Federal Funds rate plus 0.50%, (ii) the Bank of America prime rate, and (iii) one month LIBOR plus 1.00%. We are required to make quarterly principal payments of 1.25% of the initial amount of each loan on a twenty year repayment schedule, with a balloon repayment of the outstanding principal amount of loans due on September 26, 2023, subject to an earlier maturity if our existing revolving credit facility matures or is not otherwise refinanced by certain dates.

Borrowings under the real estate credit agreement are guaranteed by each operating dealership subsidiary of ours whose real estate is financed under the real estate credit agreement, and collateralized by first priority liens, subject to certain permitted exceptions, on all of the real property financed thereunder.

Restated Master Loan Agreement

On February 3, 2015, certain of our subsidiaries entered into an amended and restated master loan agreement (the "Restated Master Loan Agreement") with Wells Fargo. In June 2015, we made additional borrowings under the Restated Master Loan Agreement with Wells Fargo, resulting in our having drawn the full $100.0 million (the "Restated Master Loan Facility") of availability thereunder. In connection with our final draw under the Restated Master Loan Agreement, in June 2015 we entered into a cash flow interest rate swap with Wells Fargo, effectively fixing the interest rate at 4.80%. We paid a total of $1.2 million in debt issuance costs associated with the Master Loan Agreement.

Below is a summary of our outstanding mortgage notes payable, the carrying values of the related collateralized real estate, and years of maturity as of December 31, 2017 and 2016:



	As of December 31, 2017					As of December 31, 2016
Mortgage Agreement	Aggregate Principal Outstanding		Carrying Value of Collateralized Related Real Estate		Maturity Dates	Aggregate Principal Outstanding		Carrying Value of Collateralized Related Real Estate		Maturity Dates
Captive mortgages	$	116.8	$	179.3	2018-2024	$	159.7	$	225.5	2018-2024
Other mortgage debt	22.3		45.3		2018-2022	23.1		46.2		2018-2022
Real estate credit agreement	48.5		89.8		2023	51.5		91.5		2023
Restated master loan agreement	88.5		132.7		2025	93.6		134.2		2025
Total mortgage debt	$	276.1	$	447.1		$	327.9	$	497.4

Revolving Credit Facility

As discussed above under our "Floor Plan Notes Payable—Non-Trade" footnote, the 2016 Senior Credit Facility includes a $250.0 million Revolving Credit Facility. We may request Bank of America to issue letters of credit on our behalf thereunder up to $50.0 million. Availability under the Revolving Credit Facility is limited by borrowing base calculations. Availability is reduced on a dollar-for-dollar basis by the aggregate face amount of any outstanding letters of credit. As of December 31, 2017, we re-designated $190.0 million of borrowing capacity from our Revolving Credit Facility to our New Vehicle Revolving Floor Plan Facility, resulting in $60.0 million of borrowing capacity. In addition, we had $13.3 million in outstanding letters of credit, resulting in $46.7 million of borrowing availability as of December 31, 2017. Proceeds from borrowings from time to time under the revolving credit facility may be used for among other things, acquisitions, working capital and capital expenditures.

Borrowings under the 2016 Senior Credit Facility bear interest, at the option of the Company, based on the London Interbank Offered Rate ("LIBOR") or the Base Rate, in each case plus an Applicable Margin (as defined in the 2016 Senior Credit Facility). The Base Rate is the highest of the (i) Bank of America prime rate, (ii) Federal Funds rate plus 0.50%, and (iii) one month LIBOR plus 1.00%. The Applicable Margin, for borrowings under the Revolving Credit Facility, ranges from 1.25% to 2.50% for LIBOR loans and 0.25% to 1.50% for Base Rate loans, in each case based on the Company's total lease adjusted leverage ratio. In addition to the payment of interest on borrowings outstanding under the 2016 Senior Credit Facility, we are required to pay a quarterly commitment fee between 0.20% and 0.45% per year, based on the Company's total lease adjusted leverage ratio on the Revolving Credit Facility.

Stock Repurchase and Dividend Restrictions

The 2016 Senior Credit Facility and the Indenture currently allow for restricted payments without limit so long as our consolidated total leverage ratio (as defined in the 2016 Senior Credit Facility and the Indenture) is not greater than 3.0 to 1.0 after giving effect to such proposed restricted payments. Restricted payments generally include items such as dividends, share repurchases, unscheduled repayments of subordinated debt, or purchases of certain investments. In the event that our consolidated total leverage ratio does (or would) exceed 3.0 to 1.0, the 2016 Senior Credit Facility and the Indenture would then also allow for restricted payments under the following mutually exclusive parameters, subject to certain exclusions:


•	Restricted payments in an aggregate amount not to exceed $20.0 million in any fiscal year;


•	General restricted payments allowance of $150.0 million; and

•

Subject to our continued compliance with a fixed charge coverage ratio as set out in the Indenture, restricted payments capacity additions (or subtractions if negative) equal to (i) 50% of our net income (as defined in the 2016 Senior Credit Facility and the Indenture) beginning on October 1, 2014 and ending on the date of the most recently completed fiscal quarter (the "Measurement Period"), plus (ii) 100% of any cash proceeds we receive from the sale of equity interests during the Measurement Period, minus (iii) the dollar amount of share repurchases made and dividends paid on or after December 4, 2014.

Representations and Covenants

We are subject to a number of covenants in our various debt and lease agreements, including those described below. We were in compliance with all of our covenants throughout 2017. Failure to comply with any of our debt covenants would constitute a default under the relevant debt agreements, which would entitle the lenders under such agreements to terminate our ability to borrow under the relevant agreements and accelerate our obligations to repay outstanding borrowings, if any, unless compliance with the covenants is waived. In many cases, defaults under one of our agreements could trigger cross-default provisions in our other agreements. If we are unable to remain in compliance with our financial or other covenants, we would be required to seek waivers or modifications of our covenants from our lenders, or we would need to raise debt and/or equity financing or sell assets to generate proceeds sufficient to repay such debt. We cannot give any assurance that we would be able to successfully take any of these actions on terms, or at times, that may be necessary or desirable.

The representations and covenants contained in the Real Estate Credit Agreement are customary for financing transactions of this nature including, among others, a requirement to comply with a minimum consolidated current ratio, minimum consolidated fixed charge coverage ratio, and a maximum consolidated total lease adjusted leverage ratio, in each case as set out in the Real Estate Credit Agreement. In addition, certain other covenants could restrict our ability to incur additional debt, pay dividends or acquire or dispose of assets.

Our guarantees under the Restated Master Loan Agreement also require compliance with certain financial covenants, including a consolidated current ratio, consolidated fixed charge coverage ratio, and an adjusted net worth calculation. Further, the Restated Master Loan Agreement contains customary representations and warranties and the guarantees under such agreements contain negative covenants, including, among other things, covenants not to, with permitted exceptions, (i) incur any additional debt; (ii) create any additional liens on the Property, as defined in the Restated Master Loan Agreement; and (iii) enter into any sale-leaseback transactions in connection with the underlying properties.

The representations and covenants contained in the agreement governing the 2016 Senior Credit Facility are customary for financing transactions of this nature including, among others, a requirement to comply with a minimum consolidated current ratio, minimum consolidated fixed charge coverage ratio and maximum consolidated total lease adjusted leverage ratio, in each case as set out in the agreement governing the 2016 Senior Credit Facility. In addition, certain other covenants could restrict the Company's ability to incur additional debt, pay dividends or acquire or dispose of assets.

The agreement governing the 2016 Senior Credit Facility also provides for events of default that are customary for financing transactions of this nature, including cross-defaults to other material indebtedness. In certain instances, an event of default under either the Revolving Credit Facility or the Used Vehicle Floor Plan Facility could be, or result in, an event of default under the New Vehicle Floor Plan Facility, and vice versa. Upon the occurrence of an event of default, the Company could be required to immediately repay all amounts outstanding under the applicable facility.

FINANCIAL INSTRUMENTS AND FAIR VALUE

12 Months Ended

Dec. 31, 2017

Derivatives and Fair Value [Abstract]

FINANCIAL INSTRUMENTS AND FAIR VALUE

In determining fair value, we use various valuation approaches, including market and income approaches. Accounting standards establish a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from independent sources. Unobservable inputs are inputs that reflect our assumptions about the assumptions market participants would use in pricing the asset or liability, developed based on the best information available in the circumstances. The hierarchy is broken down into three levels based on the reliability of inputs as follows:

Level 1-Valuations based on quoted prices in active markets for identical assets or liabilities that we have the ability to access.

Level 2-Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. Assets and liabilities utilizing Level 2 inputs include interest rate swap instruments, exchange-traded debt securities that are not actively traded or do not have a high trading volume, mortgage notes payable, and certain real estate properties on a non-recurring basis.

Level 3-Valuations based on inputs that are unobservable and significant to the overall fair value measurement. Asset and liability measurements utilizing Level 3 inputs include those used in estimating the fair value of certain non-financial assets and non-financial liabilities in purchase acquisitions and those used in the assessment of impairment for Goodwill and Intangible franchise rights.

The availability of observable inputs can vary and is affected by a wide variety of factors. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment required to determine fair value is greatest for instruments categorized in Level 3. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement is disclosed is determined based on the lowest level input that is significant to the fair value measurement.

Fair value is a market-based exit price measure considered from the perspective of a market participant who holds the asset or owes the liability rather than an entity-specific measure. Therefore, even when market assumptions are not readily available, our assumptions are set to reflect those that market participants would use in pricing the asset or liability at the measurement date. We use inputs that are current as of the measurement date, including during periods of significant market fluctuations.

Financial instruments consist primarily of cash and cash equivalents, contracts-in-transit, accounts receivable, cash surrender value of corporate-owned life insurance policies, accounts payable, floor plan notes payable, subordinated long-term debt, mortgage notes payable, and interest rate swap instruments. The carrying values of our financial instruments, with the exception of subordinated long-term debt and mortgage notes payable, approximate fair value due to (i) their short-term nature, (ii) recently completed market transactions, or (iii) existence of variable interest rates, which approximate market rates. The fair value of our subordinated long-term debt is based on reported market prices in an inactive market which reflects Level 2 inputs. We estimate the fair value of our mortgage notes payable using a present value technique based on current market interest rates for similar types of financial instruments which reflect Level 2 inputs.

A summary of the carrying values and fair values of our 6.0% Notes and our mortgage notes payable is as follows:



	As of December 31,
	2017		2016
	(In millions)
Carrying Value:
6.0% Senior Subordinated Notes due 2024	$	606.8	$	607.6
Mortgage notes payable	276.1		327.9
Total carrying value	$	882.9	$	935.5

Fair Value:
6.0% Senior Subordinated Notes due 2024	$	625.5	$	613.5
Mortgage notes payable	275.3		339.5
Total fair value	$	900.8	$	953.0

Interest Rate Swap Agreements

In June 2015, we entered into an interest rate swap agreement with a notional principal amount of $100.0 million. This swap was designed to provide a hedge against changes in variable rate cash flows regarding fluctuations in the one month LIBOR rate, through maturity in February 2025. The notional values of this swap as of December 31, 2017 and 2016, were $90.4 million and $95.6 million, respectively, and the notional value will reduce over its remaining term to $53.1 million at maturity.

In November 2013, we entered into an interest rate swap agreement with a notional principal amount of $75.0 million. This swap was designed to provide a hedge against changes in variable rate cash flows regarding fluctuations in the one month LIBOR rate, through maturity in September 2023. The notional values of this swap as of December 31, 2017 and 2016, were $60.2 million and $64.0 million, respectively, and the notional value will reduce over its remaining term to $38.7 million at maturity.

The fair value of cash flow swaps is calculated as the present value of expected future cash flows, determined on the basis of forward interest rates and present value factors. Fair value estimates reflect a credit adjustment to the discount rate applied to all expected cash flows under the swaps. Other than this input, all other inputs used in the valuation for these swaps are designated to be Level 2 fair values. The fair value liabilities recorded related to the swaps for the years ended December 31, 2017 and 2016, are $1.7 million and $3.6 million, respectively. The following table provides information regarding the fair value of our interest rate swap agreements and the impact on the Consolidated Balance Sheets:



	As of December 31,
	2017		2016
	(In millions)
Accounts payable and accrued liabilities	$	1.0	$	2.2
Other long-term liabilities	0.7		1.4
Total fair value	$	1.7	$	3.6

All of our interest rate swaps qualify for cash flow hedge accounting treatment. For the years ended December 31, 2017, 2016, and 2015, neither of our cash flow swaps contained any ineffectiveness, nor was any ineffectiveness recognized in earnings. Information about the effect of our interest rate swap agreements on the accompanying Consolidated Statements of Income and Consolidated Statements of Comprehensive Income, are as follows (in millions):



For the Year Ended December 31,	Results Recognized in Accumulated Other Comprehensive Loss (Effective Portion)			Location of Results Reclassified from Accumulated Other Comprehensive Loss to Earnings	Results Reclassified from Accumulated Other Comprehensive Loss to Earnings
2017	$	(0.1	)	Swap interest expense	$	(2.0	)
2016	$	(0.8	)	Swap interest expense	$	(3.1	)
2015	$	(6.1	)	Swap interest expense	$	(3.0	)

On the basis of yield curve conditions as of December 31, 2017 and including assumptions about future changes in fair value, we expect the amount to be reclassified out of Accumulated Other Comprehensive Loss into earnings within the next 12 months will be losses of $0.9 million.

INCOME TAXES

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

INCOME TAXES

The components of income tax expense from continuing operations are as follows:



	For the Years Ended December 31,
	2017		2016		2015
	(In millions)
Current:
Federal	$	59.1	$	83.8	$	84.9
State	8.3		10.7		10.2
Total current income tax expense	67.4		94.5		95.1
Deferred:
Federal	1.2		4.9		6.8
State	1.4		1.2		2.1
Total deferred income tax expense	2.6		6.1		8.9
Total income tax expense	$	70.0	$	100.6	$	104.0

A reconciliation of the statutory federal rate to the effective tax rate from continuing operations is as follows (dollar amounts shown in millions):



	For the Years Ended December 31,
	2017			%		2016			%		2015		%
Income tax provision at the statutory rate	$	73.2		35.0		$	93.7		35.0		$	95.7	35.0
State income tax expense, net of federal benefit	6.4			3.0		7.8			2.9		8.0		2.9
Non-deductible / non-tax items	(0.3		)	(0.1	)	0.2			0.1		0.3		0.1
Effect of enactment of tax reform	(7.9		)	(3.8	)	—			—		—		—
Adjustments and settlements	(0.6		)	(0.3	)	(0.8		)	(0.3	)	—		—
Other, net	(0.8		)	(0.3	)	(0.3		)	(0.1	)	—		—
Income tax expense	$	70.0		33.5		$	100.6		37.6		$	104.0	38.0

Deferred income tax asset and liability components consisted of the following:



	As of December 31,
	2017			2016
	(In millions)
Deferred income tax assets:
F&I chargeback liabilities	$	11.1		$	16.5
Other accrued liabilities	3.4			4.7
Stock-based compensation	3.9			5.2
Other, net	5.5			8.4
Total deferred income tax assets	23.9			34.8
Deferred income tax liabilities:
Intangible asset amortization	(8.4		)	(7.3		)
Depreciation	(27.1		)	(34.9		)
Other, net	(0.9		)	(1.5		)
Total deferred income tax liabilities	(36.4		)	(43.7		)
Net deferred income tax liabilities	$	(12.5	)	$	(8.9	)

There were no valuation allowances recorded against the deferred tax assets as of December 31, 2017 or 2016. As of December 31, 2017, we had pre-paid income taxes of $15.2 million, which were included in Other Current Assets. As of December 31, 2016, we had $19.8 million of income taxes payable, which were included in Accounts Payable and Accrued Liabilities.

As of December 31, 2016, the net amount of our unrecognized tax benefits was $0.8 million, which if recognized, would not impact our effective tax rate. There was no unrecognized tax benefits as of December 31, 2017 or 2015.

The statutes of limitations related to our consolidated Federal income tax returns are closed for all tax years up to and including 2014. The expiration of the statutes of limitations related to the various state income tax returns that we and our subsidiaries file varies by state. The 2010 through 2016 tax years generally remain subject to examination by most state tax authorities. We believe that our tax positions comply with applicable tax law and that we have adequately provided for these matters.

Tax Reform

On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (the “Tax Act”). The Tax Act makes broad and complex changes to the U.S. tax code that affects 2017, including, but not limited to, accelerated depreciation that will allow for full expensing of qualified property. The Tax Act also establishes new tax laws that will affect 2018 and after, including a reduction in the U.S. federal corporate income tax rate from 35% to 21%.

The SEC staff issued Staff Accounting Bulletin No. 118 (“SAB 118”) on December 22, 2017, which provides guidance on accounting for the tax effects of the Tax Act. SAB 118 provides a measurement period that should not extend beyond one year from the Tax Act enactment date for companies to complete the accounting under ASC 740, Income Taxes. In accordance with SAB 118, a company must reflect the income tax effects of those aspects of the Tax Act for which the accounting under ASC 740 is complete. To the extent that a company’s accounting for certain income tax effects of the Tax Act is incomplete but it is able to determine a reasonable estimate, it must record a provisional estimate in the financial statements.

We remeasured certain deferred tax assets and liabilities based on the rates at which they are expected to reverse in the future, which is generally 21%. However, we are still analyzing certain aspects of the Act and refining our calculations, which could potentially affect the measurement of these balances and impact future taxable income. The provisional amount recorded related to the remeasurement of our deferred tax balance was a reduction of $7.9 million to our net deferred tax liability.

We have not been able to make a reasonable estimate of the potential impact of the effect of the new limitations under Internal Revenue Code Section 162(m) as it relates to the deferred tax asset for certain components of share-based compensation and continue to account for the deferred tax asset based on the provisions of the tax laws that were in effect immediately prior to enactment. We will complete our accounting for the Tax Act after we have considered additional guidance issued by the U.S. Treasury Department, the IRS, state tax authorities and other standard-setting bodies, and we have gathered and analyzed additional data relative to our calculations. This may result in adjustments to our provisional amounts, which would impact our provision for income taxes and effective tax rate in the period the adjustments are made. We will complete our accounting for the Tax Act in 2018.

SUPPLEMENTAL CASH FLOW INFORMATION

12 Months Ended

Dec. 31, 2017

Supplemental Cash Flow Information [Abstract]

SUPPLEMENTAL CASH FLOW INFORMATION

During the years ended December 31, 2017, 2016, and 2015, we made interest payments, including amounts capitalized, totaling $76.0 million, $73.8 million, and $60.6 million, respectively. Included in these interest payments are $22.3 million, $19.1 million, and $15.7 million, of floor plan interest payments for the years ended December 31, 2017, 2016, and 2015, respectively.

During the years ended December 31, 2017, 2016, and 2015 we made income tax payments, net of refunds received, totaling $102.7 million, $79.6 million, and $73.2 million, respectively.

During the years ended December 31, 2017, 2016, and 2015, we transferred $156.2 million, $121.9 million, and $110.3 million, respectively, of loaner vehicles from Other Current Assets to Inventory on our Consolidated Balance Sheets.

There were no divestitures during the year ended December 31, 2017. During the years ended December 31, 2016 and 2015, we received $114.3 million and $105.9 million, respectively, of proceeds from the sale of dealerships, and $13.1 million and $19.3 million, respectively, of mortgage note repayments were paid directly by the buyer as part of these divestitures.

During the year ended December 31, 2017, we had non-cash investing and financing activities of $4.1 million related to purchases of real estate properties that were previously leased.

The following items are included in Other Adjustments, net to reconcile net income to net cash provided by operating activities:



	For the Years Ended December 31,
	2017			2016		2015
Amortization of deferred financing fees	$	3.2		$	2.6	$	2.5
Loss on disposal of fixed assets	2.1			0.4		1.2
Other individually immaterial items	(1.0		)	1.1		0.5
Other adjustments, net	$	4.3		$	4.1	$	4.2

LEASE OBLIGATIONS

12 Months Ended

Dec. 31, 2017

Leases [Abstract]

Leases Obligations

LEASE OBLIGATIONS

We lease various facilities, real estate, and equipment primarily under operating lease agreements, most of which have terms from one to twenty years. Certain of our leases contain renewal options and rent escalation clauses. We record rent expense on a straight-line basis over the life of the lease for lease agreements where the rent escalates at fixed rates over time. Rent expense from continuing operations totaled $26.7 million, $29.9 million, and $31.3 million for the years ended December 31, 2017, 2016, and 2015, respectively. As of December 31, 2017 and 2016, we had one significant capital lease obligation totaling $3.2 million and $3.4 million, respectively. The capital lease agreement was entered into in 2011 and has a term of 20 years.

During the year ended December 31, 2017, we entered into two transactions in which we purchased previously leased real estate for an aggregate purchase price of $9.5 million. These transactions included the termination of the related lease obligations, resulting in $0.2 million of lease termination charges, which were included in Other operating expense (income), net in our Consolidated Statement of Income for the year ended December 31, 2017.

During the year ended December 31, 2016, we entered into three transactions in which we purchased previously leased real estate for an aggregate purchase price of $19.6 million. These transactions included the termination of the related lease obligations, resulting in $2.1 million of lease termination charges and $0.9 million of real estate impairment charges, which were based on the associated property appraisals. Both the lease termination charges and the real estate impairment charges were included in Other operating expense (income), net in our Consolidated Statement of Income for the year ended December 31, 2016. We did not purchase any previously leased real estate during the year ended December 31, 2015.

Future minimum payments under long-term, non-cancellable operating leases as of December 31, 2017, are as follows:



	Total
	(In millions)
2018	$	23.9
2019	22.8
2020	22.1
2021	19.1
2022	14.0
Thereafter	22.0
Total minimum lease payments	$	123.9

Certain of our lease agreements include financial covenants and incorporate by reference the financial covenants set forth in the 2016 Senior Credit Facility. A breach of any of these covenants could immediately give rise to certain landlord remedies under our various lease agreements, the most severe of which include the following: (i) termination of the applicable lease and/or other leases with the same or an affiliated landlord under a cross-default provision, (ii) eviction from the premises; and (iii) the landlord having a claim for various damages.

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Our dealerships are party to dealer and framework agreements with applicable vehicle manufacturers. In accordance with these agreements, each dealership has certain rights and is subject to restrictions typical in the industry. The ability of these manufacturers to influence the operations of the dealerships or the loss of any of these agreements could have a materially negative impact on our operating results. In some instances, manufacturers may have the right, and may direct us, to implement costly capital improvements to dealerships as a condition to entering into, renewing, or extending franchise agreements with them. Manufacturers also typically require that their franchises meet specific standards of appearance. These factors, either alone or in combination, could cause us to use our financial resources on capital projects that we might not have planned for or otherwise determined to undertake. From time to time, we and our dealerships are or may become involved in various claims relating to, and arising out of, our business and our operations. These claims may involve, but not be limited to, financial and other audits by vehicle manufacturers or lenders and certain federal, state, and local government authorities, which have historically related primarily to (i) incentive and warranty payments received from vehicle manufacturers, or allegations of violations of manufacturer agreements or policies, (ii) compliance with lender rules and covenants, and (iii) payments made to government authorities relating to federal, state, and local taxes, as well as compliance with other government regulations. Claims may also arise through litigation, government proceedings, and other dispute resolution processes. Such claims, including class actions, could relate to, but may not be limited to, the practice of charging administrative fees and other fees and commissions, employment-related matters, truth-in-lending and other dealer assisted financing obligations, contractual disputes, actions brought by governmental authorities, and other matters. We evaluate pending and threatened claims and establish loss contingency reserves based upon outcomes we currently believe to be probable and reasonably estimable. We believe we have adequately accrued for the potential impact of loss contingencies that are probable and reasonably estimable. Based on our review of the various types of claims currently known to us, there is no indication of material reasonably possible losses in excess of amounts accrued in the aggregate. We currently do not anticipate that any known claim will materially adversely affect our financial condition, liquidity, or results of operations. However, the outcome of any matter cannot be predicted with certainty, and an unfavorable resolution of one or more matters presently known or arising in the future could have a material adverse effect on our financial condition, liquidity, or results of operations. A significant portion of our business involves the sale of vehicles, parts, or vehicles composed of parts that are manufactured outside the United States. As a result, our operations are subject to customary risks of importing merchandise, including fluctuations in the relative values of currencies, import duties, exchange controls, trade restrictions, work stoppages, and general political and socio-economic conditions in foreign countries. The United States or the countries from which our products are imported may, from time to time, impose new quotas, duties, tariffs, or other restrictions; or adjust presently prevailing quotas, duties, or tariffs, which may affect our operations, and our ability to purchase imported vehicles and/or parts at reasonable prices. Substantially all of our facilities are subject to federal, state and local provisions regarding the discharge of materials into the environment. Compliance with these provisions has not had, nor do we expect such compliance to have, any material effect upon our capital expenditures, net earnings, financial condition, liquidity or competitive position. We believe that our current practices and procedures for the control and disposition of such materials comply with applicable federal, state, and local requirements. No assurances can be provided, however, that future laws or regulations, or changes in existing laws or regulations, would not require us to expend significant resources in order to comply therewith. We had $13.3 million of letters of credit outstanding as of December 31, 2017, which are required by certain of our insurance providers. In addition, as of December 31, 2017, we maintained a $5.0 million surety bond line in the ordinary course of our business. Our letters of credit and surety bond line are considered to be off balance sheet arrangements. Our other material commitments include (i) floor plan notes payable, (ii) operating leases, (iii) long-term debt and (iv) interest on long-term debt, as described elsewhere herein.

SHARE-BASED COMPENSATION AND EMPLOYEE BENEFIT PLANS

12 Months Ended

Dec. 31, 2017

SHARE-BASED COMPENSATION AND EMPLOYEE BENEFIT PLANS

On March 13, 2012, our Board of Directors, upon the recommendation of our Compensation and Human Resources Committee, approved the 2012 Equity Incentive Plan (the "Plan"). On April 18, 2012, our shareholders approved the Plan, which replaced our previous equity incentive plan. The Plan expires on March 13, 2022 and provides for the grant of options, performance share units, restricted share units, and shares of restricted stock to our directors, officers, and employees in the total amount of 1.5 million shares. Since the inception of the Plan, we have granted 0.7 million performance share units and 0.7 million shares of restricted stock. There have been 0.8 million shares that have either been forfeited or repurchased in association with the net share settlement of employee share-based awards, both of which are added back to shares available for grant. As such, there were approximately 0.9 million shares available for grant in accordance with the Plan as of December 31, 2017.

We issue shares of our common stock upon the vesting of performance share units or restricted stock. These shares are issued from our authorized and not outstanding common stock. In addition, in connection with the vesting of performance share units or restricted stock, we expect to repurchase a portion of the shares issued equal to the amount of employee income tax withholding.

We have recognized $13.6 million ($4.5 million tax benefit), $12.0 million ($4.5 million tax benefit), and $10.0 million ($3.8 million tax benefit) in share-based compensation expense for the years ended December 31, 2017, 2016, and 2015, respectively. As of December 31, 2017, there was $10.1 million of total unrecognized share-based compensation expense related to non-vested share-based awards granted under the Plan, and the weighted average period over which it is expected to be recognized is 2.15 years. Further, we expect to recognize $5.6 million of this expense in 2018, $3.3 million in 2019, and $1.1 million in 2020.

Performance Share Units

During the year ended December 31, 2017, the Compensation and Human Resources Committee of the Board of Directors approved the grant of up to 99,197 performance share units, which represents 150% of the target award. Performance share units provide an opportunity for the employee-recipient to receive a number of shares of our common stock based on our performance during a specified year period following the grant as measured against objective performance goals as determined by the Compensation and Human Resources Committee of our Board of Directors. The actual number of units earned may range from 0% to 150% of the target number of units depending upon achievement of the performance goals. Performance share units vest in three equal annual installments with one-third of the award vesting on each of the (i) later of the first anniversary of the grant date, or the date the Compensation and Human Resources Committee determines the actual award, (ii) second anniversary of the grant date and (iii) third anniversary of the grant date. Upon vesting, each performance share unit equals one share of common stock of the Company. Compensation cost for performance share units is based on the closing price of our common stock on the date of grant and the ultimate performance level achieved, and is recognized on a graded basis over the three-year vesting period.

The following table summarizes information about performance share units for 2017:



	Shares		Weighted Average Grant Date Fair Value
Non-vested at January 1, 2017	276,843		$	51.66
Granted	99,197		65.65
Vested	(101,080	)	53.83
Forfeited or unearned	(45,309	)	50.69
Non-vested at December 31, 2017	229,651		$	57.21

The weighted average grant-date fair value of performance share units and total fair value of performance share units vested are summarized in the following table:



	For the Years Ended December 31,
	2017		2016		2015
Weighted average grant-date fair value of performance share units granted	$	65.65	$	46.70	$	77.92
Total fair value of performance share units vested (in millions)	$	6.5	$	6.0	$	9.3

Restricted Stock Awards

During the year ended December 31, 2017, the Compensation and Human Resources Committee of the Board of Directors approved the grant of 129,327 shares of restricted stock. Restricted stock awards vest in three equal annual installments commencing on the first anniversary of the grant date. Compensation cost for restricted stock awards is based on the closing price of our common stock on the date of grant and is recognized on a straight-line basis over the three-year vesting period.

The following table summarizes information about restricted stock awards for 2017:



	Shares		Weighted Average Grant Date Fair Value
Non-vested at January 1, 2017	203,200		$	56.05
Granted	129,327		63.64
Vested	(83,673	)	56.73
Forfeited	(24,028	)	55.48
Non-vested at December 31, 2017	224,826		$	60.36

The weighted average grant-date fair value of restricted stock awards and total fair value of restricted stock awards vested are summarized in the following table:



	For the Years Ended December 31,
	2017		2016		2015
Weighted average grant-date fair value of restricted stock granted	$	63.64	$	47.07	$	82.17
Total fair value of restricted stock awards vested (in millions)	$	5.3	$	3.7	$	11.1

Employee Retirement Plan

We sponsor the Asbury Automotive Retirement Savings Plan (the "Retirement Savings Plan"), a 401(k) plan, for eligible employees. Employees are eligible to participate in the Retirement Savings Plan on or after 60 days of service with us. Employees electing to participate in the Retirement Savings Plan may contribute up to 75% of their annual eligible compensation. IRS rules limited total participant contributions during 2017 to $18,000, or $24,000 if age 50 or more; however, we limit participant contributions for employees considered Highly Compensated Employees with an annual salary or base salary equal to or greater than $120,000 to $13,000 per year, or $19,000 if age 50 or more. For non-highly compensated employees, after one year of employment we match 50% of employees' contributions up to 4% of their eligible compensation, with a maximum match of $3,000 per participant. Employer contributions vest on a graded basis over 4 years after the date of hire. Expenses from continuing operations related to employer matching contributions totaled $3.0 million, $2.7 million, and $2.2 million for the years ended December 31, 2017, 2016, and 2015, respectively.

CONDENSED QUARTERLY REVENUES AND EARNINGS (UNAUDITED)

12 Months Ended

Dec. 31, 2017

Quarterly Financial Information Disclosure [Abstract]

CONDENSED QUARTERLY REVENUES AND EARNINGS (UNAUDITED)

CONDENSED QUARTERLY REVENUES AND EARNINGS (UNAUDITED):



	For the Three Months Ended
	March 31,		June 30,		September 30,		December 31,
	(In millions, except per share data)
2016:
Revenues	$	1,550.8	$	1,627.4	$	1,683.1	$	1,666.5
Gross profit	$	260.8	$	267.6	$	265.7	$	264.6
Net income (2)(3)(4)	$	31.0	$	36.7	$	32.4	$	67.1
Net income per common share:
Basic (1)(2)(3)(4)	$	1.28	$	1.66	$	1.47	$	3.11
Diluted (1)(2)(3)(4)	$	1.27	$	1.65	$	1.47	$	3.08
2017:
Revenues	$	1,551.7	$	1,631.8	$	1,602.1	$	1,670.9
Gross profit	$	260.1	$	267.1	$	260.3	$	268.4
Net income (5)(6)(7)	$	34.0	$	31.9	$	30.7	$	42.5
Net income per common share:
Basic (1)(5)(6)(7)	$	1.62	$	1.53	$	1.49	$	2.06
Diluted (1)(5)(6)(7)	$	1.61	$	1.52	$	1.48	$	2.03

____________________________


(1)	The sum of income per common share for the four quarters does not equal total income per common share due to changes in the average number of shares outstanding during the respective periods.


(2)	Results for the three months ended March 31, 2016 were decreased by $2.1 million as a result of real estate-related charges, net of tax, or $0.09 per basic and diluted share.


(3)	Results for the three months ended September 30, 2016 were decreased by $1.1 million as a result of real estate-related charges, net of tax, or $0.05 per basic and diluted share.


(4)	Results for the three months ended December 31, 2016 were increased by $28.4 million from gains on divestitures, $4.1 million from gains on legal settlements, partially offset by a $0.3 million loss on real estate-related charges, all previous items were net of tax, and a $0.9 income tax benefit, or $1.53 and $1.52 per basic and diluted share, respectively, in the aggregate.


(5)	Results for the three months ended March 31, 2017 were increased by $0.6 million as a result of gains from legal settlements, net of tax, or $0.03 per basic and diluted share.


(6)	Results for the three months ended June 30, 2017 were increased by $0.5 million from investment income, partially offset by a $1.8 million loss on real estate-related charges, all previous items were net of tax, or $0.06 per basic and diluted share.


(7)	Results for the three months ended December 31, 2017 were increased by an $7.9 million income tax benefit, partially offset by $3.2 million of franchise rights impairment, net of tax, or $0.22 per basic and diluted share, respectively, in the aggregate.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2017

Accounting Policies [Abstract]

Basis of Presentation

Use of Estimates

Cash and Cash Equivalents

Cash and cash equivalents include investments in money market accounts and short-term certificates of deposit, which have maturity dates of less than 90 days when purchased.

Contracts-In-Transit

Contracts-in-transit represent receivables from third-party finance companies for the portion of new and used vehicle purchase price financed by customers through sources arranged by us.

Inventories

Property and Equipment



Buildings and improvements	10-40
Machinery and equipment	5-10
Furniture and fixtures	3-10
Company vehicles	3-5

Acquisitions

Goodwill and Other Intangible Assets

Debt Issuance Costs

Derivative Instruments and Hedging Activities

Insurance

Revenue Recognition

Internal Profit

Share-based Compensation

Share-Based Compensation

Earnings per Common Share

Advertising

Income Taxes

Discontinued Operations

We evaluated our dealership divestitures in 2016 and 2015, and determined that none of our dealership divestitures would be considered discontinued operations.

Assets Held for Sale and Liabilities Associated with Assets Held for Sale

Statements of Cash Flows

Business and Credit Concentration Risk



Manufacturer (Vehicle Brands):	% of Total New Vehicle Revenues
American Honda Motor Co., Inc. (Honda and Acura)	22	%
Toyota Motor Sales, U.S.A., Inc. (Toyota and Lexus)	18	%
Nissan North America, Inc. (Nissan and Infiniti)	15	%
Ford Motor Company (Ford and Lincoln)	12	%
Mercedes-Benz USA, LLC (Mercedes-Benz, Smart and Sprinter)	8	%
BMW of North America, LLC (BMW and Mini)	6	%

No other manufacturers individually accounted for more than 5% of our total new vehicle revenue for the year ended December 31, 2017.

Segment Reporting

Recent Accounting Pronouncements

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2017

Accounting Policies [Abstract]

Schedule of Estimated Useful Lives

The ranges of estimated useful lives are as follows (in years):



Buildings and improvements	10-40
Machinery and equipment	5-10
Furniture and fixtures	3-10
Company vehicles	3-5

Property and equipment, net consisted of the following:



	As of December 31,
	2017			2016
	(In millions)
Land	$	303.9		$	307.7
Buildings and leasehold improvements	582.0			530.2
Machinery and equipment	93.7			84.0
Furniture and fixtures	61.7			57.7
Company vehicles	8.8			8.8
Construction in progress	22.4			37.8
Gross property and equipment	1,072.5			1,026.2
Less—Accumulated depreciation	(238.3		)	(210.8		)
Property and equipment, net	$	834.2		$	815.4

Schedule of Revenue by Major Brand

For the year ended December 31, 2017, manufacturers representing 5% or more of our revenues from new vehicle sales were as follows:



Manufacturer (Vehicle Brands):	% of Total New Vehicle Revenues
American Honda Motor Co., Inc. (Honda and Acura)	22	%
Toyota Motor Sales, U.S.A., Inc. (Toyota and Lexus)	18	%
Nissan North America, Inc. (Nissan and Infiniti)	15	%
Ford Motor Company (Ford and Lincoln)	12	%
Mercedes-Benz USA, LLC (Mercedes-Benz, Smart and Sprinter)	8	%
BMW of North America, LLC (BMW and Mini)	6	%

ACQUISITIONS AND DIVESTITURES (Tables)

12 Months Ended

Dec. 31, 2017

Business Combinations and Divestitures [Abstract]

Schedule of Business Acquisitions



	2017
	(In millions)
Inventory	$	25.9
Real estate	12.2
Property and equipment	1.4
Goodwill	32.7
Manufacturer franchise rights	6.2
Loaner and rental vehicles	3.2
Liabilities assumed	$	(1.5	)
Total purchase price	$	80.1

INVENTORIES (Tables)

12 Months Ended

Dec. 31, 2017

Inventory Disclosure [Abstract]

Schedule of Inventory

Inventories consisted of the following:



	As of December 31,
	2017		2016
	(In millions)
New vehicles	$	646.5	$	720.6
Used vehicles	135.9		132.7
Parts and accessories	43.6		41.6
Total inventories	$	826.0	$	894.9

PROPERTY AND EQUIPMENT, NET (Tables)

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

The ranges of estimated useful lives are as follows (in years):



Buildings and improvements	10-40
Machinery and equipment	5-10
Furniture and fixtures	3-10
Company vehicles	3-5

Property and equipment, net consisted of the following:



	As of December 31,
	2017			2016
	(In millions)
Land	$	303.9		$	307.7
Buildings and leasehold improvements	582.0			530.2
Machinery and equipment	93.7			84.0
Furniture and fixtures	61.7			57.7
Company vehicles	8.8			8.8
Construction in progress	22.4			37.8
Gross property and equipment	1,072.5			1,026.2
Less—Accumulated depreciation	(238.3		)	(210.8		)
Property and equipment, net	$	834.2		$	815.4

LONG-TERM DEBT (Tables)

12 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

Schedule of Long-term Debt

Long-term debt consisted of the following:



	As of December 31,
	2017			2016
	(In millions)
6.0% Senior Subordinated Notes due 2024	$	600.0		$	600.0
Mortgage notes payable bearing interest at fixed rates (the weighted average interest rate was 5.4% for the years ended December 31, 2017 and 2016)	139.1			182.8
Real estate credit agreement	48.5			51.5
Restated master loan agreement	88.5			93.6
Capital lease obligations	3.2			3.4
Total debt outstanding	879.3			931.3
Add—unamortized premium on 6.0% Senior Subordinated Notes due 2024	6.8			7.6
Less—debt issuance costs	(10.6		)	(12.2		)
Long-term debt, including current portion	875.5			926.7
Less—current portion, net of current portion of debt issuance costs	(12.9		)	(14.0		)
Long-term debt	$	862.6		$	912.7

Schedule of Aggregate Maturities

The aggregate maturities of long-term debt as of December 31, 2017 are as follows (in millions):



2018	$	15.4
2019	39.9
2020	30.5
2021	13.7
2022	28.6
Thereafter	751.2
Total maturities of long-term debt	$	879.3

Schedule of Mortgage Notes Payable

Below is a summary of our outstanding mortgage notes payable, the carrying values of the related collateralized real estate, and years of maturity as of December 31, 2017 and 2016:



	As of December 31, 2017					As of December 31, 2016
Mortgage Agreement	Aggregate Principal Outstanding		Carrying Value of Collateralized Related Real Estate		Maturity Dates	Aggregate Principal Outstanding		Carrying Value of Collateralized Related Real Estate		Maturity Dates
Captive mortgages	$	116.8	$	179.3	2018-2024	$	159.7	$	225.5	2018-2024
Other mortgage debt	22.3		45.3		2018-2022	23.1		46.2		2018-2022
Real estate credit agreement	48.5		89.8		2023	51.5		91.5		2023
Restated master loan agreement	88.5		132.7		2025	93.6		134.2		2025
Total mortgage debt	$	276.1	$	447.1		$	327.9	$	497.4

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Topic 505
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

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-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=64930739&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
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-Paragraph 6
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28541-108399

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21521-112644

+ Details

FINANCIAL INSTRUMENTS AND FAIR VALUE (Tables)

12 Months Ended

Dec. 31, 2017

Derivatives and Fair Value [Abstract]

Schedule of Carrying Values and Fair Values of Liabilities

A summary of the carrying values and fair values of our 6.0% Notes and our mortgage notes payable is as follows:



	As of December 31,
	2017		2016
	(In millions)
Carrying Value:
6.0% Senior Subordinated Notes due 2024	$	606.8	$	607.6
Mortgage notes payable	276.1		327.9
Total carrying value	$	882.9	$	935.5

Fair Value:
6.0% Senior Subordinated Notes due 2024	$	625.5	$	613.5
Mortgage notes payable	275.3		339.5
Total fair value	$	900.8	$	953.0

Schedule of Derivative Instruments Fair Value

The following table provides information regarding the fair value of our interest rate swap agreements and the impact on the Consolidated Balance Sheets:



	As of December 31,
	2017		2016
	(In millions)
Accounts payable and accrued liabilities	$	1.0	$	2.2
Other long-term liabilities	0.7		1.4
Total fair value	$	1.7	$	3.6

Schedule of Derivative Instruments Effect on Accumulated Other Comprehensive Income

Information about the effect of our interest rate swap agreements on the accompanying Consolidated Statements of Income and Consolidated Statements of Comprehensive Income, are as follows (in millions):



For the Year Ended December 31,	Results Recognized in Accumulated Other Comprehensive Loss (Effective Portion)			Location of Results Reclassified from Accumulated Other Comprehensive Loss to Earnings	Results Reclassified from Accumulated Other Comprehensive Loss to Earnings
2017	$	(0.1	)	Swap interest expense	$	(2.0	)
2016	$	(0.8	)	Swap interest expense	$	(3.1	)
2015	$	(6.1	)	Swap interest expense	$	(3.0	)

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense

The components of income tax expense from continuing operations are as follows:



	For the Years Ended December 31,
	2017		2016		2015
	(In millions)
Current:
Federal	$	59.1	$	83.8	$	84.9
State	8.3		10.7		10.2
Total current income tax expense	67.4		94.5		95.1
Deferred:
Federal	1.2		4.9		6.8
State	1.4		1.2		2.1
Total deferred income tax expense	2.6		6.1		8.9
Total income tax expense	$	70.0	$	100.6	$	104.0

Reconciliation of the Statutory Federal Rate to the Effective Rate

A reconciliation of the statutory federal rate to the effective tax rate from continuing operations is as follows (dollar amounts shown in millions):



	For the Years Ended December 31,
	2017			%		2016			%		2015		%
Income tax provision at the statutory rate	$	73.2		35.0		$	93.7		35.0		$	95.7	35.0
State income tax expense, net of federal benefit	6.4			3.0		7.8			2.9		8.0		2.9
Non-deductible / non-tax items	(0.3		)	(0.1	)	0.2			0.1		0.3		0.1
Effect of enactment of tax reform	(7.9		)	(3.8	)	—			—		—		—
Adjustments and settlements	(0.6		)	(0.3	)	(0.8		)	(0.3	)	—		—
Other, net	(0.8		)	(0.3	)	(0.3		)	(0.1	)	—		—
Income tax expense	$	70.0		33.5		$	100.6		37.6		$	104.0	38.0

Schedule of Deferred Tax Assets and Liabilities

Deferred income tax asset and liability components consisted of the following:



	As of December 31,
	2017			2016
	(In millions)
Deferred income tax assets:
F&I chargeback liabilities	$	11.1		$	16.5
Other accrued liabilities	3.4			4.7
Stock-based compensation	3.9			5.2
Other, net	5.5			8.4
Total deferred income tax assets	23.9			34.8
Deferred income tax liabilities:
Intangible asset amortization	(8.4		)	(7.3		)
Depreciation	(27.1		)	(34.9		)
Other, net	(0.9		)	(1.5		)
Total deferred income tax liabilities	(36.4		)	(43.7		)
Net deferred income tax liabilities	$	(12.5	)	$	(8.9	)

SHARE-BASED COMPENSATION AND EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2017

Schedule of Performance Share Units

The following table summarizes information about performance share units for 2017:



	Shares		Weighted Average Grant Date Fair Value
Non-vested at January 1, 2017	276,843		$	51.66
Granted	99,197		65.65
Vested	(101,080	)	53.83
Forfeited or unearned	(45,309	)	50.69
Non-vested at December 31, 2017	229,651		$	57.21

The weighted average grant-date fair value of performance share units and total fair value of performance share units vested are summarized in the following table:



	For the Years Ended December 31,
	2017		2016		2015
Weighted average grant-date fair value of performance share units granted	$	65.65	$	46.70	$	77.92
Total fair value of performance share units vested (in millions)	$	6.5	$	6.0	$	9.3

Schedule of Restricted Stock

The following table summarizes information about restricted stock awards for 2017:



	Shares		Weighted Average Grant Date Fair Value
Non-vested at January 1, 2017	203,200		$	56.05
Granted	129,327		63.64
Vested	(83,673	)	56.73
Forfeited	(24,028	)	55.48
Non-vested at December 31, 2017	224,826		$	60.36

The weighted average grant-date fair value of restricted stock awards and total fair value of restricted stock awards vested are summarized in the following table:



	For the Years Ended December 31,
	2017		2016		2015
Weighted average grant-date fair value of restricted stock granted	$	63.64	$	47.07	$	82.17
Total fair value of restricted stock awards vested (in millions)	$	5.3	$	3.7	$	11.1

CONDENSED QUARTERLY REVENUES AND EARNINGS (UNAUDITED) (Tables)

12 Months Ended

Dec. 31, 2017

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information



	For the Three Months Ended
	March 31,		June 30,		September 30,		December 31,
	(In millions, except per share data)
2016:
Revenues	$	1,550.8	$	1,627.4	$	1,683.1	$	1,666.5
Gross profit	$	260.8	$	267.6	$	265.7	$	264.6
Net income (2)(3)(4)	$	31.0	$	36.7	$	32.4	$	67.1
Net income per common share:
Basic (1)(2)(3)(4)	$	1.28	$	1.66	$	1.47	$	3.11
Diluted (1)(2)(3)(4)	$	1.27	$	1.65	$	1.47	$	3.08
2017:
Revenues	$	1,551.7	$	1,631.8	$	1,602.1	$	1,670.9
Gross profit	$	260.1	$	267.1	$	260.3	$	268.4
Net income (5)(6)(7)	$	34.0	$	31.9	$	30.7	$	42.5
Net income per common share:
Basic (1)(5)(6)(7)	$	1.62	$	1.53	$	1.49	$	2.06
Diluted (1)(5)(6)(7)	$	1.61	$	1.52	$	1.48	$	2.03

____________________________


(1)	The sum of income per common share for the four quarters does not equal total income per common share due to changes in the average number of shares outstanding during the respective periods.


(2)	Results for the three months ended March 31, 2016 were decreased by $2.1 million as a result of real estate-related charges, net of tax, or $0.09 per basic and diluted share.


(3)	Results for the three months ended September 30, 2016 were decreased by $1.1 million as a result of real estate-related charges, net of tax, or $0.05 per basic and diluted share.


(4)	Results for the three months ended December 31, 2016 were increased by $28.4 million from gains on divestitures, $4.1 million from gains on legal settlements, partially offset by a $0.3 million loss on real estate-related charges, all previous items were net of tax, and a $0.9 income tax benefit, or $1.53 and $1.52 per basic and diluted share, respectively, in the aggregate.


(5)	Results for the three months ended March 31, 2017 were increased by $0.6 million as a result of gains from legal settlements, net of tax, or $0.03 per basic and diluted share.


(6)	Results for the three months ended June 30, 2017 were increased by $0.5 million from investment income, partially offset by a $1.8 million loss on real estate-related charges, all previous items were net of tax, or $0.06 per basic and diluted share.


(7)	Results for the three months ended December 31, 2017 were increased by an $7.9 million income tax benefit, partially offset by $3.2 million of franchise rights impairment, net of tax, or $0.22 per basic and diluted share, respectively, in the aggregate.

DESCRIPTION OF BUSINESS (Details)	Dec. 31, 2017 VehicleBrands MetropolitanMarkets states DealershipLocations CollisionRepairCenters Franchises
Business Organization [Line Items]
Number of franchises (in franchises) \| Franchises	94
Number of dealership locations (in dealership locations) \| DealershipLocations	80
Number of vehicle brands (in vehicle brands) \| VehicleBrands	29
Number of collision repair centers (in collision repair centers) \| CollisionRepairCenters	24
Number of metropolitan markets (in metropolitan markets) \| MetropolitanMarkets	17
Number of states (in states) \| states	9
Mid-line Import Brands
Business Organization [Line Items]
Weighted brand mix	46.00%
Luxury Brands
Business Organization [Line Items]
Weighted brand mix	34.00%
Domestic Brands
Business Organization [Line Items]
Weighted brand mix	20.00%

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) $ in Millions	3 Months Ended		12 Months Ended			168 Months Ended
	Jun. 30, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2017 USD ($) segment	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2015 USD ($)	Oct. 31, 2015	Dec. 04, 2014
Accounting Policies [Line Items]
Impairment of real estate	$ 1.8	$ 0.3	$ 0.0	$ 0.0	$ 0.0
Goodwill, impairment						$ 537.7
Advertising expense			30.3	34.0	40.1
Advertising credits and volume discounts			18.0	16.8	17.1
Total debt outstanding		931.3	$ 879.3	931.3
Revenues by major brand, disclosure percentage threshold			5.00%
Number of reportable segments \| segment			1
Share-based compensation, excess tax benefit				0.2	$ 4.6
Senior Subordinated Notes \| 6.0% Senior Subordinated Notes due 2024
Accounting Policies [Line Items]
Stated interest rate of debt instrument			6.00%				6.00%	6.00%
Retained Earnings \| Accounting Standards Update 2016-09 \| New Accounting Pronouncement, Early Adoption, Effect
Accounting Policies [Line Items]
Cumulative effect of new accounting principle in period of adoption		$ 0.5		$ 0.5
Minimum
Accounting Policies [Line Items]
Loaner vehicle period of use before sale (in months)			6 months
Maximum
Accounting Policies [Line Items]
Loaner vehicle period of use before sale (in months)			12 months

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Schedule of Property and Equipment Useful Lives) (Details)	12 Months Ended
	Dec. 31, 2017
Buildings and improvements \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	10 years
Buildings and improvements \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	40 years
Machinery and equip \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	5 years
Machinery and equip \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	10 years
Furniture and fixtures \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	3 years
Furniture and fixtures \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	10 years
Company vehicles \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	3 years
Company vehicles \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	5 years

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Schedule of Revenues by Major Brand) (Details) - New vehicles	12 Months Ended
	Dec. 31, 2017
American Honda Motor Co., Inc. (Honda and Acura)
Schedule of Revenues by Major Brand [Line Items]
Revenues by major brand, percentage	22.00%
Toyota Motor Sales, U.S.A., Inc. (Toyota and Lexus)
Schedule of Revenues by Major Brand [Line Items]
Revenues by major brand, percentage	18.00%
Nissan North America, Inc. (Nissan and Infiniti)
Schedule of Revenues by Major Brand [Line Items]
Revenues by major brand, percentage	15.00%
Ford Motor Company (Ford and Lincoln)
Schedule of Revenues by Major Brand [Line Items]
Revenues by major brand, percentage	12.00%
Mercedes-Benz USA, LLC (Mercedes-Benz, Smart and Sprinter)
Schedule of Revenues by Major Brand [Line Items]
Revenues by major brand, percentage	8.00%
BMW of North America, LLC (BMW and Mini)
Schedule of Revenues by Major Brand [Line Items]
Revenues by major brand, percentage	6.00%

ACQUISITIONS AND DIVESTITURES (Acquisitions- Narrative) (Details) - Series of Individually Immaterial Business Acquisitions $ in Millions	12 Months Ended
	Dec. 31, 2017 USD ($) center DealershipLocations Franchises
Business Acquisition [Line Items]
Number of franchises acquired (in franchises) \| Franchises	2
Number of dealership locations acquired (in dealership locations) \| DealershipLocations	2
Number of collision centers acquired (in collision centers) \| center	1
Aggregate purchase price	$ 80.1
Cash paid for acquisition	55.0
Floor plan borrowings for puchase of related inventory	$ 25.1
Goodwill and manufacturer franchise rights, period for federal and state tax deductions	15 years

ACQUISITIONS AND DIVESTITURES (Schedule of Business Acquisitions) (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Goodwill	$ 160.8	$ 128.1	$ 130.2
Series of Individually Immaterial Business Acquisitions
Business Acquisition [Line Items]
Inventory	25.9
Real estate	12.2
Property and equipment	1.4
Goodwill	32.7
Manufacturer franchise rights	6.2
Loaner and rental vehicles	3.2
Liabilities assumed	(1.5)
Total purchase price	$ 80.1

ACQUISITIONS AND DIVESTITURES (Divestitures- Narrative) (Details) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2016 USD ($)	Dec. 31, 2017 USD ($) DealershipLocations	Dec. 31, 2016 USD ($) center DealershipLocations Franchises	Dec. 31, 2015 USD ($) center DealershipLocations Franchises
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of dealership locations, sold (in dealership locations) \| DealershipLocations		0
Number of collision centers, sold (in collision centers) \| center				1
Gain on disposition of business, gross \| $			$ 45.5	$ 34.9
Gain on divestitures \| $	$ 28.4	$ 0.0	$ 28.4	$ 21.6
ARKANSAS
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of franchises, sold (in franchises) \| Franchises			5
Number of dealership locations, sold (in dealership locations) \| DealershipLocations			4
Number of collision centers, sold (in collision centers) \| center			2
NEW JERSEY
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of franchises, sold (in franchises) \| Franchises				2
Number of dealership locations, sold (in dealership locations) \| DealershipLocations				2
MISSOURI
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of franchises, sold (in franchises) \| Franchises				1

ACCOUNTS RECEIVABLE (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total accounts receivable	$ 130.1	$ 140.3
Less—Allowance for doubtful accounts	(1.6)	(1.9)
Accounts receivable, net	128.5	138.4
Vehicle receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total accounts receivable	48.3	53.2
Manufacturer receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total accounts receivable	47.0	45.5
Other receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total accounts receivable	$ 34.8	$ 41.6

INVENTORIES (Details) - USD ($) $ in Millions	12 Months Ended
INVENTORIES (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Components of Inventory [Line Items]
Inventories, net	$ 826.0	$ 894.9
Lower of cost or market inventory reserves	5.7	6.5
New vehicles
Components of Inventory [Line Items]
Inventories, net	646.5	720.6
Reduction of new vehicle inventory cost by automobile manufacturer incentives	7.4	8.2
Reduction to new vehicle cost of sales by automobile manufacturer incentives	40.1	40.6	$ 38.8
Used vehicles
Components of Inventory [Line Items]
Inventories, net	135.9	132.7
Parts and accessories
Components of Inventory [Line Items]
Inventories, net	$ 43.6	$ 41.6

ASSETS HELD FOR SALE (Details) $ in Millions	3 Months Ended		12 Months Ended
ASSETS HELD FOR SALE (Details) $ in Millions	Jun. 30, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2017 USD ($) property	Dec. 31, 2016 USD ($) property	Dec. 31, 2015 USD ($)
Long Lived Assets Held-for-sale [Line Items]
Real estate held-for-sale		$ 16.1	$ 30.3	$ 16.1
Impairment of real estate	$ 1.8	0.3	0.0	0.0	$ 0.0
Other Operating Income (Expense)
Long Lived Assets Held-for-sale [Line Items]
Lease buyout and lease termination charges			0.9
Disposed of by Sale \| Vacant Property
Long Lived Assets Held-for-sale [Line Items]
Real estate held-for-sale		$ 2.3	$ 5.7	$ 2.3
Number of real estate properties sold \| property			2	1
Held-for-sale
Long Lived Assets Held-for-sale [Line Items]
Impairment of real estate			$ 0.0	$ 2.7

OTHER CURRENT ASSETS (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Other Assets [Abstract]
Service loaner vehicles	$ 85.4	$ 82.2
Prepaid expenses	5.2	4.5
Prepaid taxes	19.5	4.0
Other	9.2	6.3
Other current assets	$ 119.3	$ 97.0

PROPERTY AND EQUIPMENT, NET (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Interest costs capitalized	$ 0.2	$ 1.1	$ 0.2
Depreciation and capital lease obligation amortization	$ 32.1	$ 30.7	$ 29.5

PROPERTY AND EQUIPMENT, NET (Schedule of Property and Equipment, Net) (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 1,072.5	$ 1,026.2
Less - Accumulated depreciation	(238.3)	(210.8)
Property and equipment, net	834.2	815.4
Land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	303.9	307.7
Buildings and leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	582.0	530.2
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	93.7	84.0
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	61.7	57.7
Company vehicles
Property, Plant and Equipment [Line Items]
Property and equipment, gross	8.8	8.8
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 22.4	$ 37.8

GOODWILL AND INTANGIBLE FRANCHISE RIGHTS (Goodwill) (Details) - USD ($) $ in Millions	12 Months Ended		168 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Goodwill [Roll Forward]
Net, beginning balance	$ 128.1	$ 130.2
Divestitures		(2.1)
Acquisitions	32.7
Net, ending balance	$ 160.8	$ 128.1	$ 130.2
Goodwill, impairment			$ 537.7

GOODWILL AND INTANGIBLE FRANCHISE RIGHTS (Franchise Rights) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Indefinite-lived Intangible Assets [Roll Forward]
Impairments	$ (5.1)	$ 0.0	$ 0.0
Franchise rights
Indefinite-lived Intangible Assets [Roll Forward]
Beginning balance	48.5
Acquisitions	6.2
Divestitures	0.0
Ending balance	$ 49.6	$ 48.5

FLOOR PLAN NOTES PAYABLE—NON-TRADE (Consist of) (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Debt Disclosure [Abstract]
Floor plan notes payable—non-trade	$ 666.6	$ 732.7
Floor plan notes payable offset account	(38.7)	(59.2)
Total floor plan notes payable—non-trade, net	$ 627.9	$ 673.5

FLOOR PLAN NOTES PAYABLE—NON-TRADE (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Oct. 16, 2014
New Vehicle Revolving Floor Plan Facility
Debt Instrument [Line Items]
Commitment fee percentage	0.15%
New Vehicle Revolving Floor Plan Facility \| LIBOR
Debt Instrument [Line Items]
Interest rate	1.25%
New Vehicle Revolving Floor Plan Facility \| Base Rate
Debt Instrument [Line Items]
Interest rate	0.25%
Used Vehicle Revolving Floor Plan Facility
Debt Instrument [Line Items]
Commitment fee percentage	0.15%
Used Vehicle Revolving Floor Plan Facility \| LIBOR
Debt Instrument [Line Items]
Interest rate	1.50%
Used Vehicle Revolving Floor Plan Facility \| Base Rate
Debt Instrument [Line Items]
Interest rate	0.50%
Senior Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 325,000,000.0
Senior Credit Facility \| LIBOR
Debt Instrument [Line Items]
Interest rate	1.00%
Senior Credit Facility \| Federal Funds
Debt Instrument [Line Items]
Interest rate	0.50%
Bank of America, N.A. \| Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 250,000,000.0
Bank of America, N.A. \| Standby Letters of Credit
Debt Instrument [Line Items]
Face amount	50,000,000.0	$ 50,000,000
Bank of America, N.A. \| New Vehicle Revolving Floor Plan Facility
Debt Instrument [Line Items]
Current borrowing capacity	60,000,000
Maximum borrowing capacity	900,000,000.0
Remaining borrowing capacity	190,000,000
Bank of America, N.A. \| Used Vehicle Revolving Floor Plan Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	150,000,000.0
Unused borrowing capacity	$ 88,800,000

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Payables and Accruals [Abstract]
Accounts payable	$ 92.4	$ 81.9
Loaner vehicle notes payable	86.8	80.9
Accrued compensation	24.9	24.5
Accrued finance and insurance chargebacks	23.3	22.9
Accrued insurance	20.4	19.9
Taxes payable	26.6	41.2
Accrued advertising	6.5	7.6
Accrued interest	5.1	4.9
Other	27.2	25.3
Accounts payable and accrued liabilities	$ 313.2	$ 309.1

LONG-TERM DEBT (Narrative) (Details) - USD ($)	1 Months Ended			12 Months Ended
LONG-TERM DEBT (Narrative) (Details) - USD ($)	Oct. 31, 2015	Jun. 30, 2015	Dec. 31, 2014	Dec. 31, 2017	Dec. 31, 2015	Dec. 31, 2016	Dec. 04, 2014	Oct. 16, 2014
Debt Instrument [Line Items]
Unamortized debt issuance expense				$ 10,600,000		$ 12,200,000
Reastated Credit Agreement
Debt Instrument [Line Items]
General restricted payments allowance				$ 150,000,000
Restricted payments capacity additions as percent of net income				50.00%
Restricted payments capacity additions as percent of cash proceeds from sale of equity				100.00%
Reastated Credit Agreement \| Maximum
Debt Instrument [Line Items]
Consolidated leverage ratio				300.00%
Annual principal payment				$ 20,000,000
New Vehicle Revolving Floor Plan Facility
Debt Instrument [Line Items]
Commitment fee percentage				0.15%
Revolving Credit Facility \| Minimum
Debt Instrument [Line Items]
Commitment fee percentage				0.20%
Revolving Credit Facility \| Maximum
Debt Instrument [Line Items]
Commitment fee percentage				0.45%
Wells Fargo Mortgage \| Interest Rate Swap
Debt Instrument [Line Items]
Fixed interest rate		4.80%
Wells Fargo Mortgage \| Master Loan Facility
Debt Instrument [Line Items]
Proceeds from lines of credit		$ 100,000,000
Bank of America, N.A. \| Reastated Credit Agreement
Debt Instrument [Line Items]
Current borrowing capacity								$ 250,000,000
Remaining borrowing capacity				$ 46,700,000
Bank of America, N.A. \| Reastated Credit Agreement \| Guarantee Obligations
Debt Instrument [Line Items]
Amount of letters of credit outstanding				13,300,000
Bank of America, N.A. \| Standby Letters of Credit
Debt Instrument [Line Items]
Face amount				50,000,000.0				$ 50,000,000
Bank of America, N.A. \| New Vehicle Revolving Floor Plan Facility
Debt Instrument [Line Items]
Maximum borrowing capacity				900,000,000.0
Current borrowing capacity				60,000,000
Remaining borrowing capacity				190,000,000
Bank of America, N.A. \| Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 250,000,000.0
LIBOR \| Bank of America, N.A. \| Revolving Credit Facility
Debt Instrument [Line Items]
Interest rate				1.00%
LIBOR \| Bank of America, N.A. \| Revolving Credit Facility \| Minimum
Debt Instrument [Line Items]
Interest rate				1.25%
LIBOR \| Bank of America, N.A. \| Revolving Credit Facility \| Maximum
Debt Instrument [Line Items]
Interest rate				2.50%
Base Rate \| Bank of America, N.A. \| Revolving Credit Facility \| Minimum
Debt Instrument [Line Items]
Interest rate				0.25%
Base Rate \| Bank of America, N.A. \| Revolving Credit Facility \| Maximum
Debt Instrument [Line Items]
Interest rate				1.50%
Federal Funds \| Bank of America, N.A. \| Revolving Credit Facility
Debt Instrument [Line Items]
Interest rate				0.50%
Mortgages
Debt Instrument [Line Items]
Long-term debt, gross				$ 139,100,000		182,800,000
Real Estate Credit Agreement
Debt Instrument [Line Items]
Long-term debt, gross				48,500,000		51,500,000
Maximum borrowing capacity				$ 75,000,000.0
Periodic payment, principal, percent				1.25%
Real Estate Credit Agreement \| LIBOR
Debt Instrument [Line Items]
Stated interest rate of debt instrument				2.50%
Real Estate Credit Agreement \| LIBOR \| Minimum
Debt Instrument [Line Items]
Stated interest rate of debt instrument				1.00%
Real Estate Credit Agreement \| Base Rate
Debt Instrument [Line Items]
Stated interest rate of debt instrument				1.50%
Real Estate Credit Agreement \| Federal Funds
Debt Instrument [Line Items]
Stated interest rate of debt instrument				0.50%
6.0% Senior Subordinated Notes due 2024 \| Senior Subordinated Notes
Debt Instrument [Line Items]
Face amount	$ 200,000,000		$ 400.0
Stated interest rate of debt instrument	6.00%			6.00%			6.00%
Redemption price	104.25%
Proceeds from issuance of debt	$ 210,200,000
Unamortized debt issuance expense	$ 3,800,000
Effective percentage	5.41%
Underwriting fees	$ 2,800,000
Long-term debt, gross				$ 600,000,000		$ 600,000,000
Debt issuance cost		$ 1,200,000
6.0% Senior Subordinated Notes due 2024 \| Senior Subordinated Notes \| Purchaser
Debt Instrument [Line Items]
Premiums paid pursuant to terms of redemption notice					$ 0
8.375% Senior Subordinated Notes due 2020 \| Senior Subordinated Notes
Debt Instrument [Line Items]
Extinguishment of debt, amount			$ 300,000,000
Stated interest rate of debt instrument			8.375%

LONG-TERM DEBT (Schedule of Long-Term Debt) (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016	Oct. 31, 2015	Dec. 04, 2014
Debt Instrument [Line Items]
Capital lease obligations	$ 3.2	$ 3.4
Total debt outstanding	879.3	931.3
Add: unamortized premium on 6.0% Senior Subordinated Notes due 2024	6.8	7.6
Less: debt issuance costs	(10.6)	(12.2)
Long-term debt, including current portion	875.5	926.7
Less—current portion, net of current portion of debt issuance costs	(12.9)	(14.0)
Long-term debt	$ 862.6	$ 912.7
Weighted average interest rate	5.40%	5.40%
Mortgages
Debt Instrument [Line Items]
Long-term debt, gross	$ 139.1	$ 182.8
Real Estate Credit Agreement
Debt Instrument [Line Items]
Long-term debt, gross	48.5	51.5
Restated master loan agreement
Debt Instrument [Line Items]
Long-term debt, gross	88.5	93.6
6.0% Senior Subordinated Notes due 2024 \| Senior Subordinated Notes
Debt Instrument [Line Items]
Long-term debt, gross	$ 600.0	$ 600.0
Less: debt issuance costs			$ (3.8)
Stated interest rate of debt instrument	6.00%		6.00%	6.00%

LONG-TERM DEBT (Schedule of Aggregate Maturities of Long-Term Debt) (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Debt Disclosure [Abstract]
2018	$ 15.4
2019	39.9
2020	30.5
2021	13.7
2022	28.6
Thereafter	751.2
Total debt	$ 879.3	$ 931.3

LONG-TERM DEBT (Schedule of Mortgage Notes Payable) (Details) - Mortgages - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Aggregate Principal Outstanding	$ 276.1	$ 327.9
Carrying Value of Collateralized Related Real Estate	447.1	497.4
Captive mortgages
Debt Instrument [Line Items]
Aggregate Principal Outstanding	116.8	159.7
Carrying Value of Collateralized Related Real Estate	179.3	225.5
Other mortgage debt
Debt Instrument [Line Items]
Aggregate Principal Outstanding	22.3	23.1
Carrying Value of Collateralized Related Real Estate	45.3	46.2
Real estate credit agreement
Debt Instrument [Line Items]
Aggregate Principal Outstanding	48.5	51.5
Carrying Value of Collateralized Related Real Estate	89.8	91.5
Restated master loan agreement
Debt Instrument [Line Items]
Aggregate Principal Outstanding	88.5	93.6
Carrying Value of Collateralized Related Real Estate	$ 132.7	$ 134.2

FINANCIAL INSTRUMENTS AND FAIR VALUE (Narrative) (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016	Jun. 30, 2015	Nov. 30, 2013
Fair Value, Inputs, Level 2 \| Other Long-term Liabilities and Current Liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of interest rate swaps	$ (1,700,000)	$ (3,600,000)
New Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional principal amount of derivative liability	90,400,000.0	95,600,000.0	$ 100,000,000
Notional principal amount of derivative liability, at maturity			$ 53,100,000
Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional principal amount of derivative liability	60,200,000.0	64,000,000		$ 75,000,000
Notional principal amount of derivative liability, at maturity				$ 38,700,000
Fair value of interest rate swaps	1,700,000	$ 3,600,000
Interest rate swap, net loss amount expected to be reclassified in the next twelve months	$ (900,000)

FINANCIAL INSTRUMENTS AND FAIR VALUE (Summary of Carrying Values and Fair Values of Debt) (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016	Oct. 31, 2015	Dec. 04, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total carrying value	$ 882.9	$ 935.5
Total fair value	900.8	953.0
Mortgages Notes Payable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total carrying value	276.1	327.9
Total fair value	275.3	339.5
6.0% Senior Subordinated Notes due 2024 \| Senior Subordinated Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total carrying value	606.8	607.6
Total fair value	$ 625.5	$ 613.5
Stated interest rate of debt instrument	6.00%		6.00%	6.00%

FINANCIAL INSTRUMENTS AND FAIR VALUE (Schedule of Fair value of Interest Rate Swaps) (Details) - Interest Rate Swap - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Derivative Instruments, Gain (Loss) [Line Items]
Fair value of interest rate swaps	$ 1.7	$ 3.6
Accounts payable and accrued liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Fair value of interest rate swaps	1.0	2.2
Other long-term liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Fair value of interest rate swaps	$ 0.7	$ 1.4

FINANCIAL INSTRUMENTS AND FAIR VALUE (Schedule of Derivative Instruments Effect on the Consolidated Income Statement, Including Accumulated Other Comprehensive Income) (Details) - Interest Rate Swap - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Results Recognized in AOCI (Effective Portion)	$ (0.1)	$ (0.8)	$ (6.1)
Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount Reclassified from AOCI to Earnings	$ (2.0)	$ (3.1)	$ (3.0)

INCOME TAXES (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
INCOME TAXES (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Operating Loss Carryforwards [Line Items]
Unrecognized tax benefits		$ 0.8
Remeasurement of our deferred tax balance	$ 7.9
Accounts payable and accrued liabilities
Operating Loss Carryforwards [Line Items]
Taxes payable	$ 15.2	$ 19.8

INCOME TAXES (Schedule of Components of Income Tax Expense) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Current:
Federal	$ 59.1	$ 83.8	$ 84.9
State	8.3	10.7	10.2
Total Current Income Tax Expense	67.4	94.5	95.1
Deferred:
Federal	1.2	4.9	6.8
State	1.4	1.2	2.1
Total Deferred Income Tax Expense	2.6	6.1	8.9
Total Income Tax Expense	$ 70.0	$ 100.6	$ 104.0

INCOME TAXES (Schedule of Effective Income Tax Rate Reconciliation) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Amount
Income tax provision at the statutory rate	$ 73.2	$ 93.7	$ 95.7
State income tax expense, net	6.4	7.8	8.0
Non-deductible / non-tax items	(0.3)	0.2	0.3
Effect of enactment of tax reform	(7.9)	0.0	0.0
Adjustments and settlements	(0.6)	(0.8)	0.0
Other, net	(0.8)	(0.3)	0.0
Total Income Tax Expense	$ 70.0	$ 100.6	$ 104.0
Percent
Income tax provision at the statutory rate	35.00%	35.00%	35.00%
State income tax expense, net	3.00%	2.90%	2.90%
Non-deductible / non-tax items	(0.10%)	0.10%	0.10%
Effect of enactment of tax reform	(3.80%)	(0.00%)	(0.00%)
Adjustments and settlements	(0.30%)	(0.30%)	(0.00%)
Other, net	(0.30%)	(0.10%)	0.00%
Income tax provision	33.50%	37.60%	38.00%

INCOME TAXES (Schedule of Deferred Income Tax Assets and Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Deferred income tax assets:
F&I chargeback liabilities	$ 11.1	$ 16.5
Other accrued liabilities	3.4	4.7
Stock-based compensation	3.9	5.2
Other, net	5.5	8.4
Total deferred income tax assets	23.9	34.8
Deferred income tax liabilities:
Intangible asset amortization	(8.4)	(7.3)
Depreciation	(27.1)	(34.9)
Other, net	(0.9)	(1.5)
Total deferred income tax liabilities	(36.4)	(43.7)
Net deferred income tax (liabilities) assets	$ (12.5)	$ (8.9)

OTHER LONG-TERM LIABILITIES (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Other Liabilities Disclosure [Abstract]
Accrued finance and insurance chargebacks	$ 20.4	$ 20.1
Deferred rent	5.0	5.8
Swap fair value	0.7	1.4
Other	3.1	2.6
Other long-term liabilities	$ 29.2	$ 29.9

SUPPLEMENTAL CASH FLOW INFORMATION (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Interest payments made including amounts capitalized	$ 76,000,000	$ 73,800,000	$ 60,600,000
Cash paid during the period related to floor plan interest	22,300,000	19,100,000	15,700,000
Income taxes paid	102,700,000	79,600,000	73,200,000
Loaner vehicles transferred from other current assets to inventory	156,200,000	121,900,000	110,300,000
Proceeds from divestiture	0	114,300,000	$ 105,900,000
Non cash investing and financing activities on previously leased real estate	4,100,000
Mortgages
Debt Instrument [Line Items]
Proceeds from divestiture	$ 13,100,000	$ 19,300,000

SUPPLEMENTAL CASH FLOW INFORMATION (Schedule of Other Adjustments to Reconcile Net Income to Cash Flow from Operating Activities) (Details) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Supplemental Cash Flow Elements [Abstract]
Amortization of deferred financing fees	$ 3.2	$ 2.6	$ 2.5
Loss on disposal of fixed assets	2.1	0.4	1.2
Other individually immaterial items	(1.0)	1.1	0.5
Other adjustments, net	$ 4.3	$ 4.1	$ 4.2

LEASE OBLIGATIONS (Narrative) (Details) $ in Millions	12 Months Ended
LEASE OBLIGATIONS (Narrative) (Details) $ in Millions	Dec. 31, 2017 USD ($) transaction capital_lease_obligation	Dec. 31, 2016 USD ($) transaction capital_lease_obligation	Dec. 31, 2015 USD ($)
Operating Leased Assets [Line Items]
Operating lease rent expense	$ 26.7	$ 29.9	$ 31.3
Number of capital lease obligations \| capital_lease_obligation	1	1
Capital lease obligations	$ 3.2	$ 3.4
Capital lease obligations, amortization period (in years)	20 years
Previously leased real estate purchased, purchase price	$ 9.5	19.6
Previously leased real estate purchased, loss due to termination of related lease obligations	$ 0.2	$ 2.1
Previously leased real estate purchased, number of purchases \| transaction	2	3
Previously leased real estate purchased, real estate impairment charges		$ 0.9
Minimum
Operating Leased Assets [Line Items]
Operating leases, remaining term	1 year
Maximum
Operating Leased Assets [Line Items]
Operating leases, remaining term	20 years

LEASE OBLIGATIONS (Schedule of Minimum Lease Payments) (Details) $ in Millions	Dec. 31, 2017 USD ($)
Future Minimum Payments under Long-term, Non-cancelable Operating Leases
2018	$ 23.9
2019	22.8
2020	22.1
2021	19.1
2022	14.0
Thereafter	22.0
Total minimum lease payments	$ 123.9

COMMITMENTS AND CONTINGENCIES (Details) - Guarantee Obligations $ in Millions	Dec. 31, 2017 USD ($)
Loss Contingencies [Line Items]
Amount of surety bond line maintained	$ 5.0
Reastated Credit Agreement \| Bank of America, N.A.
Loss Contingencies [Line Items]
Amount of letters of credit outstanding	$ 13.3

SHARE-BASED COMPENSATION AND EMPLOYEE BENEFIT PLANS (Share-based Compensation) (Details) - USD ($) $ in Millions	12 Months Ended			68 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of instruments provided for grant	1,500,000.0			1,500,000.0
Number of shares still available for grant across all plans (in shares)	900,000			900,000
Share-based compensation expense	$ 13.6	$ 12.0	$ 10.0
Share-based compensation expense, tax benefit	4.5	$ 4.5	$ 3.8
Total unrecognized share-based compensation expense related to nonvested awards	$ 10.1			$ 10.1
Weighted average period of recognition	2 years 1 month 24 days
Expected future recognition of unrecognized compensation expense related to nonvested share-based awards, 2017	$ 5.6
Expected future recognition of unrecognized compensation expense related to nonvested share-based awards, 2018	3.3
Expected future recognition of unrecognized compensation expense related to nonvested share-based awards, 2019	$ 1.1
Performance Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cumulative shares granted to date (in shares)				700,000.0
Number of shares forfeited or repurchased (in shares)	45,309			800,000
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cumulative shares granted to date (in shares)				700,000.0
Number of shares forfeited or repurchased (in shares)	24,028

SHARE-BASED COMPENSATION AND EMPLOYEE BENEFIT PLANS (Schedule of Performance Share Units) (Details) - Performance Share Units - USD ($) $ / shares in Units, $ in Millions	12 Months Ended			68 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum percent of target earned	150.00%
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outsanding, beginning balance (in shares)	276,843
Granted (in shares)	99,197
Vested (in shares)	(101,080)
Forfeited (in shares)	(45,309)			(800,000)
Outsanding, ending balance (in shares)	229,651	276,843		229,651
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Outstanding, beginning balance, weighted average grant date fair value (in dollars per share)	$ 51.66
Granted, weighted average grant date fair value (in dollars per share)	65.65	$ 46.70	$ 77.92
Vested, weighted average grant date fair value (in dollars per share)	53.83
Forfeited, weighted average grant date fair value (in dollars per share)	50.69
Outstanding, ending balance, weighted average grant date fair value (in dollars per share)	$ 57.21	$ 51.66		$ 57.21
Total fair value of performance share units vested (in millions)	$ 6.5	$ 6.0	$ 9.3
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares that could be earned, range	0.00%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares that could be earned, range	150.00%

SHARE-BASED COMPENSATION AND EMPLOYEE BENEFIT PLANS (Schedule of Restricted Stock) (Details) - Restricted Stock Awards - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outsanding, beginning balance (in shares)	203,200
Granted (in shares)	129,327
Vested (in shares)	(83,673)
Forfeited (in shares)	(24,028)
Outsanding, ending balance (in shares)	224,826	203,200
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Outstanding, beginning balance, weighted average grant date fair value (in dollars per share)	$ 56.05
Granted, weighted average grant date fair value (in dollars per share)	63.64	$ 47.07	$ 82.17
Vested, weighted average grant date fair value (in dollars per share)	56.73
Forfeited, weighted average grant date fair value (in dollars per share)	55.48
Outstanding, ending balance, weighted average grant date fair value (in dollars per share)	$ 60.36	$ 56.05
Total fair value of restricted stock awards vested	$ 5.3	$ 3.7	$ 11.1

SHARE-BASED COMPENSATION AND EMPLOYEE BENEFIT PLANS (Employee Benefit Plans) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Employee Retirement Plan:
Period of eligibility to participate in benefit plan (in days)	60 days
Maximum annual contributions per employee, percent	75.00%
Maximum annual contribution per employee	$ 18,000
Minimum salary threshold designating highly compensated employees	$ 120,000
Employer matching contribution, employment requirement period for matching eligibility, minimum	1 year
Employer matching contribution after one year of employment, percent	50.00%
Employer matching contribution, percent of employees' gross pay	4.00%
Maximum employer annual matching contribution of employee's gross salary	$ 3,000
Employers matching contribution, vesting period after date of hire (in years)	4 years
Employer matching contributions	$ 3,000,000	$ 2,700,000	$ 2,200,000
Age 50 or More
Employee Retirement Plan:
Maximum annual contribution per employee	24,000
Highly Compensated Employees
Employee Retirement Plan:
Maximum annual contribution per employee	13,000
Highly Compensated Employees, Age 50 or More
Employee Retirement Plan:
Maximum annual contribution per employee	$ 19,000

CONDENSED QUARTERLY REVENUES AND EARNINGS (UNAUDITED) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Net income per share:
Revenues	$ 1,670.9	$ 1,602.1	$ 1,631.8	$ 1,551.7	$ 1,666.5	$ 1,683.1	$ 1,627.4	$ 1,550.8	$ 6,456.5	$ 6,527.8	$ 6,588.3
Gross profit	268.4	260.3	267.1	260.1	264.6	265.7	267.6	260.8	1,055.9	1,058.7	1,060.8
Net income	$ 42.5	$ 30.7	$ 31.9	$ 34.0	$ 67.1	$ 32.4	$ 36.7	$ 31.0	$ 139.1	$ 167.2	$ 169.2
Basic (in dollars per share)	$ 2.06	$ 1.49	$ 1.53	$ 1.62	$ 3.11	$ 1.47	$ 1.66	$ 1.28	$ 6.69	$ 7.43	$ 6.43
Diluted (in dollars per share)	2.03	$ 1.48	1.52	1.61	3.08	$ 1.47	$ 1.65	$ 1.27	$ 6.62	$ 7.40	$ 6.41
Gain (loss) on sale of business						$ (1.1)		$ (2.1)
Sale on business component, gain (loss) per diluted share (in dollars per share)	$ 0.22		$ 0.06	$ 0.03	$ 1.52	$ (0.05)		$ (0.09)
Gain on divestitures					$ 28.4				$ 0.0	$ 28.4	$ 21.6
Gain on litigation settlement				$ 0.6	4.1
Impairment of real estate			$ 1.8		0.3				0.0	0.0	0.0
Income tax benefit	$ 7.9				$ 0.9
Sale on business component, gain (loss) per basic share (in dollars per share)					$ 1.53
Gain on investments			$ 0.5
Impairment of indefinite-lived assets	$ 3.2								$ 5.1	$ 0.0	$ 0.0

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Dec. 31, 2017
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS In January 2018, we acquired the assets of one franchise in the Indianapolis, Indiana market.

FLOOR PLAN NOTES PAYABLE—TRADE (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Debt Disclosure [Abstract]
Floor plan notes payable—trade	$ 114.8	$ 120.0
Floor plan notes payable offset account	(10.6)	(11.7)
Total floor plan notes payable—trade, net	$ 104.2	$ 108.3

SUBSEQUENT EVENTS (Details)	1 Months Ended
SUBSEQUENT EVENTS (Details)	Jan. 31, 2018 Franchises
Subsequent Event
Subsequent Event [Line Items]
Number of franchises acquired (in franchises)	1