AUTONATION, INC., 10-K filed on 2/14/2025
Annual Report
v3.25.0.1
Document and Entity Information - USD ($)
$ in Billions
 12 Months Ended
Dec. 31, 2024
Feb. 12, 2025
Jun. 28, 2024
Document And Entity Information [Abstract]      
Document Annual Report true    
Document Type 10-K    
Document Period End Date Dec. 31, 2024    
Document Fiscal Period Focus FY    
Current Fiscal Year End Date --12-31    
Document Fiscal Year Focus 2024    
Document Transition Report false    
Entity Central Index Key 0000350698    
Entity File Number 1-13107    
Entity Registrant Name AUTONATION, INC.    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 73-1105145    
Entity Address, Address Line One 200 SW 1st Ave    
Entity Address, City or Town Fort Lauderdale    
Entity Address, State or Province FL    
Entity Address, Postal Zip Code 33301    
Amendment Flag false    
City Area Code (954)    
Local Phone Number 769-6000    
Title of 12(b) Security Common Stock, Par Value $0.01 Per Share    
Trading Symbol AN    
Security Exchange Name NYSE    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Entity Shell Company false    
Entity Public Float     $ 4.1
Entity Common Stock, Shares Outstanding   39,056,586  
Documents Incorporated by Reference
Portions of the registrant’s Proxy Statement relating to its 2025 Annual Meeting of Stockholders to be filed with the SEC within 120 days after the end of the fiscal year ended December 31, 2024, are incorporated herein by reference in Part III.
    
Auditor Name KPMG LLP    
Auditor Location Fort Lauderdale, FL    
Auditor Firm ID 185    
Document Financial Statement Error Correction [Flag] false    
v3.25.0.1
Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
CURRENT ASSETS:    
Cash and cash equivalents $ 59.8 $ 60.8
Receivables, net of allowance for credit losses of $3.3 million and $2.1 million, respectively 1,066.3 1,040.4
Inventory 3,360.0 3,033.4
Other current assets 211.9 172.3
Total Current Assets 4,698.0 4,306.9
AUTO LOANS RECEIVABLE, net of allowance for credit losses of $54.8 million and $46.3 million, respectively 1,057.1 402.4
PROPERTY AND EQUIPMENT, NET 3,791.9 3,791.6
OPERATING LEASE ASSETS 391.1 392.1
GOODWILL 1,452.9 1,465.8
OTHER INTANGIBLE ASSETS, NET 905.9 927.8
OTHER ASSETS 704.8 693.4
Total Assets 13,001.7 11,980.0
CURRENT LIABILITIES:    
Vehicle floorplan payable 3,709.7 3,382.4
Accounts payable 376.6 344.7
Commercial paper 630.0 440.0
Current maturities of long-term debt 518.5 462.4
Current portion of non-recourse debt 28.3 8.8
Other current liabilities 1,049.1 944.2
Total Current Liabilities 6,312.2 5,582.5
LONG-TERM DEBT, NET OF CURRENT MATURITIES 2,613.6 3,127.9
NON-RECOURSE DEBT, NET OF CURRENT PORTION 797.7 249.6
NONCURRENT OPERATING LEASE LIABILITIES 356.9 363.2
DEFERRED INCOME TAXES 83.1 85.0
OTHER LIABILITIES 380.9 360.4
COMMITMENTS AND CONTINGENCIES (Note 20)
SHAREHOLDERS' EQUITY:    
Common stock, par value $0.01 per share; 1,500,000,000 shares authorized; 63,562,149 shares issued at December 31, 2024, and 63,562,149 shares issued at December 31, 2023, including shares held in treasury 0.6 0.6
Additional paid-in capital 20.3 22.4
Retained earnings 5,331.8 4,643.0
Treasury stock, at cost; 24,527,869 and 21,917,635 shares held, respectively (2,895.4) (2,454.6)
Total Shareholders’ Equity 2,457.3 2,211.4
Total Liabilities and Shareholders’ Equity 13,001.7 11,980.0
Trade [Member]    
CURRENT LIABILITIES:    
Vehicle floorplan payable 2,216.2 1,760.0
Non-Trade [Member]    
CURRENT LIABILITIES:    
Vehicle floorplan payable $ 1,493.5 $ 1,622.4
v3.25.0.1
Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenue:      
TOTAL REVENUE $ 26,765.4 $ 26,948.9 $ 26,985.0
Cost of Sales:      
TOTAL COST OF SALES 21,980.0 21,817.4 21,719.7
Gross Profit:      
TOTAL GROSS PROFIT 4,785.4 5,131.5 5,265.3
AutoNation finance income (loss) (9.3) (13.9) (37.6)
Selling, general, and administrative expenses 3,263.9 3,253.2 3,026.1
Depreciation and amortization 240.7 220.5 200.3
Franchise rights impairment 12.5 0.0 0.0
Other income, net (46.5) (8.0) (23.2)
OPERATING INCOME 1,305.5 1,651.9 2,024.5
Non-operating income (expense) items:      
Floorplan interest expense (218.9) (144.7) (41.4)
Other interest expense (179.7) (181.4) (134.9)
Other income (loss), net 9.8 24.4 (14.7)
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 916.7 1,350.2 1,833.5
Income tax provision 224.5 330.0 455.8
NET INCOME FROM CONTINUING OPERATIONS 692.2 1,020.2 1,377.7
Income (loss) from discontinued operations, net of income taxes 0.0 0.9 (0.3)
NET INCOME $ 692.2 $ 1,021.1 $ 1,377.4
BASIC EARNINGS (LOSS) PER SHARE:      
Continuing operations (in dollars per share) [1] $ 17.09 $ 22.87 $ 24.47
Discontinued operations (in dollars per share) [1] 0 0.02 (0.01)
Net income (in dollars per share) [1] $ 17.09 $ 22.89 $ 24.47
Weighted average common shares outstanding, basic (in shares) 40.5 44.6 56.3
DILUTED EARNINGS (LOSS) PER SHARE:      
Continuing operations (in dollars per share) [1] $ 16.92 $ 22.72 $ 24.30
Discontinued operations (in dollars per share) [1] 0 0.02 (0.01)
Net income (in dollars per share) [1] $ 16.92 $ 22.74 $ 24.29
Weighted average common shares outstanding (in shares) 40.9 44.9 56.7
COMMON SHARES OUTSTANDING, net of treasury stock, at period end (in shares) 39.0 41.6 47.6
AN Reportable Segment, AN Finance      
Gross Profit:      
AutoNation finance income (loss) $ (9.3) $ (13.9) $ (37.6)
New Vehicle [Member]      
Revenue:      
TOTAL REVENUE 13,048.2 12,767.4 11,754.4
Cost of Sales:      
TOTAL COST OF SALES 12,272.7 11,705.6 10,387.8
Gross Profit:      
TOTAL GROSS PROFIT 775.5 1,061.8 1,366.6
Used Vehicle [Member]      
Revenue:      
TOTAL REVENUE 7,719.9 8,198.5 9,661.8
Cost of Sales:      
TOTAL COST OF SALES 7,281.4 7,690.5 9,108.7
Gross Profit:      
TOTAL GROSS PROFIT 438.5 508.0 553.1
Parts and Service [Member]      
Revenue:      
TOTAL REVENUE 4,614.6 4,533.7 4,100.6
Cost of Sales:      
TOTAL COST OF SALES 2,405.6 2,394.4 2,200.3
Gross Profit:      
TOTAL GROSS PROFIT 2,209.0 2,139.3 1,900.3
Finance and Insurance, Net [Member]      
Revenue:      
TOTAL REVENUE 1,360.1 1,418.8 1,437.3
Gross Profit:      
TOTAL GROSS PROFIT 1,360.1 1,418.8 1,437.3
Product and Service, Other [Member]      
Revenue:      
TOTAL REVENUE 22.6 30.5 30.9
Cost of Sales:      
TOTAL COST OF SALES 20.3 26.9 22.9
Gross Profit:      
TOTAL GROSS PROFIT $ 2.3 $ 3.6 $ 8.0
[1]
(1) EPS amounts are calculated discretely and, therefore, may not add up to the total due to rounding.
v3.25.0.1
Consolidated Statements of Shareholders' Equity - USD ($)
$ in Millions
Total
Common Stock [Member]
Additional Paid-In Capital [Member]
Retained Earnings [Member]
Treasury Stock, Common
BALANCE, Shares at Dec. 31, 2021   86,562,149      
BALANCE, Amount at Dec. 31, 2021 $ 2,377.0 $ 0.8 $ 3.2 $ 4,639.9 $ (2,266.9)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income 1,377.4     1,377.4  
Repurchases of common stock (1,710.2)       (1,710.2)
Treasury stock cancellation, Shares   (23,000,000)      
Treasury stock cancellation 0.0 $ (0.2) (7.8) (2,295.5) 2,303.5
Stock-based compensation expense 31.5   31.5    
Shares awarded under stock-based compensation plans, net of shares withheld for taxes (27.9)   (23.8) (58.1) 54.0
BALANCE, Shares at Dec. 31, 2022   63,562,149      
BALANCE, Amount at Dec. 31, 2022 2,047.8 $ 0.6 3.1 3,663.7 (1,619.6)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income 1,021.1     1,021.1  
Repurchases of common stock (871.7)       (871.7)
Stock-based compensation expense 39.7   39.7    
Shares awarded under stock-based compensation plans, net of shares withheld for taxes (25.5)   (20.4) (41.8) 36.7
BALANCE, Shares at Dec. 31, 2023   63,562,149      
BALANCE, Amount at Dec. 31, 2023 2,211.4 $ 0.6 22.4 4,643.0 (2,454.6)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income 692.2     692.2  
Repurchases of common stock (464.2)       (464.2)
Stock-based compensation expense 36.5   36.5    
Shares awarded under stock-based compensation plans, net of shares withheld for taxes (18.6)   (38.6) (3.4) 23.4
BALANCE, Shares at Dec. 31, 2024   63,562,149      
BALANCE, Amount at Dec. 31, 2024 $ 2,457.3 $ 0.6 $ 20.3 $ 5,331.8 $ (2,895.4)
v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES:      
Net income $ 692.2 $ 1,021.1 $ 1,377.4
Adjustments to reconcile net income to net cash provided by operating activities:      
Loss (income) from discontinued operations 0.0 (0.9) 0.3
Depreciation and amortization 240.7 220.5 200.3
Amortization of debt issuance costs and accretion of debt discounts 8.9 9.6 7.2
Stock-based compensation expense 36.5 39.7 31.5
Provision for credit losses on auto loans receivable 54.7 45.9 43.8
Deferred income tax provision (benefit) (1.4) 20.1 1.3
Net gain related to business/property dispositions (55.1) (9.1) (16.3)
Franchise rights impairment 12.5 0.0 0.0
Non-cash impairment charges 9.3 5.2 1.6
Loss (gain) on equity investments 7.0 (5.2) (2.9)
Loss (gain) on corporate-owned life insurance asset (14.5) (16.4) 19.4
Gain on sale of auto loans receivable (7.4) (8.1) 0.0
Other 2.8 1.2 0.0
(Increase) decrease, net of effects from business acquisitions and divestitures:      
Receivables (25.9) (178.2) (129.2)
Auto loans receivable, net (877.1) (229.9) 0.0
Inventory (398.5) (950.1) (175.5)
Other assets 32.2 (84.2) (58.4)
Increase (decrease), net of effects from business acquisitions and divestitures:      
Vehicle floorplan payable - trade 486.4 813.4 461.1
Accounts payable 34.7 8.1 (68.9)
Other liabilities 76.7 21.6 (24.3)
Net cash provided by continuing operations 314.7 724.3 1,668.4
Net cash used in discontinued operations 0.0 (0.3) (0.3)
Net cash provided by operating activities 314.7 724.0 1,668.1
CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES:      
Purchases of property and equipment (328.5) (410.3) (329.0)
Cash used in business acquisitions, net of cash acquired 0.0 (271.4) (191.6)
Cash received from business divestitures, net of cash relinquished 156.0 23.2 55.2
Originations of auto loans receivable acquired through third-party dealers 0.0 (110.9) (56.0)
Collections on auto loans receivable acquired through third-party dealers 79.0 135.0 36.4
Proceeds from the sale of auto loans receivable 96.0 68.7 0.0
Other 9.8 (4.2) 5.7
Net cash provided by (used in) continuing operations 12.3 (569.9) (479.3)
Net cash used in discontinued operations 0.0 0.0 0.0
Net cash provided by (used in) investing activities 12.3 (569.9) (479.3)
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES:      
Repurchases of common stock (460.0) (874.4) (1,699.5)
Proceeds from 3.85% Senior Notes due 2032 0.0 0.0 698.8
Payment of 3.5% Senior Notes due 2024 (450.0) 0.0 0.0
Net proceeds from (payments of) commercial paper 190.0 390.0 (290.0)
Proceeds from non-recourse debt 1,513.0 324.0 40.7
Payments of non-recourse debt (946.7) (392.7) (35.6)
Payment of debt issuance costs (1.8) (6.6) (7.1)
Net proceeds from (payments of) vehicle floorplan payable - non-trade (113.5) 425.3 178.6
Payments of other debt obligations (13.0) (12.6) (12.0)
Proceeds from the exercise of stock options 0.5 1.9 3.4
Payments of tax withholdings for stock-based awards (19.1) (27.4) (31.3)
Net cash used in continuing operations (300.6) (172.5) (1,154.0)
Net cash used in discontinued operations 0.0 0.0 0.0
Net cash used in financing activities (300.6) (172.5) (1,154.0)
INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 26.4 (18.4) 34.8
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH at beginning of year 77.0 95.4 60.6
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH at end of year $ 103.4 $ 77.0 $ 95.4
v3.25.0.1
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Statement of Financial Position [Abstract]    
Accounts Receivable, allowance for credit losses $ 3.3 $ 2.1
Auto loans receivable, allowance for credit losses $ 54.8 $ 46.3
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock authorized (in shares) 1,500,000,000 1,500,000,000
Common stock issued (in shares) 63,562,149 63,562,149
Treasury Stock, Common, Shares 24,527,869 21,917,635
v3.25.0.1
Cash Flow Information
 12 Months Ended
Dec. 31, 2024
Supplemental Cash Flow Information [Abstract]  
Cash Flow Information CASH FLOW INFORMATION
Cash, Cash Equivalents, and Restricted Cash
The total amounts presented on our statements of cash flows include cash, cash equivalents, and restricted cash. Restricted cash includes additional collateral for non-recourse debt borrowings and collections on auto loans receivable that are due to be distributed to non-recourse debt holders in the following period. The following table provides a reconciliation
of cash and cash equivalents reported on our Consolidated Balance Sheets to the total amounts reported on our Consolidated Statements of Cash Flows:
Years Ended December 31,
20242023
Cash and cash equivalents $59.8 $60.8 
Restricted cash included in Other Current Assets41.7 14.3 
Restricted cash included in Other Assets 1.9 1.9 
Total cash, cash equivalents, and restricted cash$103.4 $77.0 
Non-Cash Investing and Financing Activities
We had accrued purchases of property and equipment of $18.4 million at December 31, 2024, $38.7 million at December 31, 2023, and $33.0 million at December 31, 2022.
Interest and Income Taxes Paid
We made interest payments, net of amounts capitalized and including interest on vehicle inventory financing, of $392.0 million in 2024, $310.3 million in 2023, and $153.7 million in 2022. We made income tax payments, net of income tax refunds, of $148.7 million in 2024, $300.8 million in 2023, and $482.5 million in 2022.
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Description of Business and Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Description of Business and Summary of Significant Accounting Policies DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Organization and Business
AutoNation, Inc., through its subsidiaries, is one of the largest automotive retailers in the United States. As of December 31, 2024, we owned and operated 325 new vehicle franchises from 243 stores located in the United States, predominantly in major metropolitan markets in the Sunbelt region. Our stores sell 31 different new vehicle brands. The core brands of new vehicles that we sell, representing approximately 88% of the new vehicles that we sold in 2024, are manufactured by Toyota (including Lexus), Honda, Ford, General Motors, BMW, Mercedes-Benz, Stellantis, and Volkswagen (including Audi and Porsche). As of December 31, 2024, we also owned and operated 52 AutoNation-branded collision centers, 24 AutoNation USA used vehicle stores, 4 AutoNation-branded automotive auction operations, 3 parts distribution centers, a mobile automotive repair and maintenance business, and an auto finance company.
We offer a diversified range of automotive products and services, including new vehicles, used vehicles, “parts and service” (also referred to as “After-Sales”), which includes automotive repair and maintenance services as well as wholesale parts and collision businesses, and automotive “finance and insurance” products (also referred to as “Customer Financial Services”), which include vehicle service and other protection products, as well as the arranging of financing for vehicle purchases through third-party finance sources. We also offer indirect financing through our captive auto finance company on vehicles we sell. For convenience, the terms “AutoNation,” “Company,” “we,” “us,” and “our” are used to refer collectively to AutoNation, Inc. and its subsidiaries, unless otherwise required by the context. Our store and other operations are conducted by our subsidiaries.
Basis of Presentation
The accompanying Consolidated Financial Statements include the accounts of AutoNation, Inc. and its subsidiaries. All of our automotive dealership subsidiaries are indirectly wholly owned by the parent company, AutoNation, Inc. Intercompany accounts and transactions have been eliminated in the consolidation.
Certain amounts from the previously reported financial statements have been reclassified to conform to the financial statement presentation of the current period.
Use of Estimates
The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. In preparing these financial statements, management has made its best estimates and judgments of certain amounts included in the financial statements. We base our estimates and judgments on historical experience and other assumptions that we believe are reasonable. However, application of these accounting policies involves the exercise of judgment and use of assumptions as to future uncertainties and, as a result, actual results could differ materially from these estimates. We periodically evaluate estimates and assumptions used in the preparation of the financial statements and make changes on a prospective basis when adjustments are necessary. Such estimates and assumptions affect, among other things, our goodwill, indefinite-lived intangible asset, and long-lived asset valuations; inventory valuation; equity investment valuation; assets held for sale; assessments of variable consideration and related constraints associated with retrospective commissions; accruals for chargebacks against revenue recognized from the sale of finance and insurance products; accruals related to self-insurance programs; the allowance for expected credit losses; certain legal proceedings; assessment of the annual income tax expense; deferred income taxes and income tax contingencies; and measurement of performance-based compensation costs.
Cash and Cash Equivalents
We consider all highly liquid investments with a maturity of three months or less as of the date of purchase to be cash equivalents unless the investments are legally or contractually restricted for more than three months. Under our cash management system, outstanding checks that are in excess of the cash balances at certain banks are included in Accounts Payable in the Consolidated Balance Sheets and changes in these amounts are reflected in operating cash flows in the accompanying Consolidated Statements of Cash Flows.
Auto Loans Receivable
Auto loans receivable include amounts due from customers related to retail vehicle sales financed through our captive auto finance company, as well as retail vehicle installment sales contracts acquired through third-party dealers prior to October 2023. Auto loans receivable are presented net of an allowance for expected credit losses. See Note 6 of the Notes to Consolidated Financial Statements for additional information on our significant accounting policies related to auto loans receivable and the allowance for expected credit losses.
Financing and Securitization Transactions
Through wholly-owned, bankruptcy-remote, special purpose entities, we utilize warehouse facilities to fund auto loans receivable originated by our captive auto finance company. We also have term securitizations that were put in place prior to our acquisition of our captive auto finance company to provide long-term funding for certain auto loans receivable initially funded through the warehouse facilities. In these transactions, a pool of auto loans receivable is sold to a bankruptcy-remote, special purpose entity that, in turn, transfers the receivables to a special purpose securitization trust. The securitization trust issues asset-backed securities, secured or otherwise supported by the transferred receivables, and the proceeds from the sale of the asset-backed securities are used to finance the securitized receivables. We are required to evaluate the term securitization trusts for consolidation. See Note 11 of the Notes to Consolidated Financial Statements for more information on our non-recourse debt and consolidation of variable interest entities.
Inventory
Inventory consists primarily of new and used vehicles held for sale, valued at the lower of cost or net realizable value using the specific identification method. Cost includes acquisition, reconditioning, dealer installed accessories, and transportation expenses. Our new vehicle inventory costs are generally reduced by manufacturer holdbacks (percentage of either the manufacturer’s suggested retail price or invoice price of a new vehicle that the manufacturer repays to the dealer), incentives, floorplan assistance, and non-reimbursement-based manufacturer advertising assistance. Parts, accessories, and other inventory are valued at the lower of cost or net realizable value. See Note 7 of the Notes to Consolidated Financial Statements for more detailed information about our inventory.
Property and Equipment, net
Property and equipment are recorded at cost less accumulated depreciation. Expenditures for major additions and improvements are capitalized, while minor replacements, maintenance, and repairs are charged to expense as incurred. In addition, we capitalize interest on borrowings during the active construction period of capital projects. Capitalized interest is added to the cost of the assets and depreciated over the estimated useful lives of the assets. Leased property meeting certain criteria is capitalized as a finance lease right-of-use asset and the present value of the related lease payments is recorded as a liability and included in current and/or long-term debt based on the lease term. When property is retired or otherwise disposed of, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in Other Income, Net (within Operating Income) in the Consolidated Statements of Income. See Note 8 of the Notes to Consolidated Financial Statements for detailed information about our property and equipment.
Depreciation is recorded over the estimated useful lives of the assets involved using the straight-line method. Leasehold improvements and finance lease right-of-use assets are amortized to depreciation expense over the estimated useful life of the asset or the respective lease term used in determining lease classification, whichever is shorter. The range of estimated useful lives is as follows:
Buildings and improvements    5 to 40 years
Furniture, fixtures, and equipment    3 to 10 years
We continually evaluate property and equipment, including leasehold improvements, to determine whether events or changes in circumstances have occurred that may warrant revision of the estimated useful life or whether the remaining balance should be evaluated for possible impairment. Such events or changes in circumstances may include a significant decrease in market value, a significant change in the business climate in a particular market, a current expectation that more-likely-than-not a long-lived asset will be sold or otherwise disposed of significantly before the end of its previously estimated useful life, or a current-period operating or cash flow loss combined with historical losses or projected future losses. We use an estimate of the related undiscounted cash flows over the remaining life of the asset (asset group) in assessing whether an asset (asset group) is recoverable. If the asset (asset group) is not recoverable, we determine the fair value of the asset (asset group) based on Level 3 inputs, and measure impairment losses based upon the amount by which the carrying amount of the asset (asset group) exceeds the fair value. If we recognize an impairment loss on a depreciable long-lived asset, the adjusted carrying amount of the asset becomes its new cost basis, which is depreciated over the remaining useful life of that asset.
When property and equipment are identified as held for sale, we reclassify the held for sale assets to Other Current Assets and cease recording depreciation. We measure each long-lived asset or disposal group at the lower of its carrying amount or fair value less cost to sell and recognize a loss for any initial adjustment of the long-lived asset’s or disposal group’s carrying amount to fair value less cost to sell in the period the “held for sale” criteria are met. Such valuations include estimations of fair values and incremental direct costs to transact a sale. The fair value measurements for our long-lived assets held for sale are based on Level 3 inputs, which consider information obtained from third-party real estate valuation sources, or, in certain cases, pending agreements to sell the related assets. We recognize an impairment loss if the amount of the asset’s or disposal group’s carrying amount exceeds the asset’s or disposal group’s estimated fair value less cost to sell.
Assets held for sale are reported in the “Corporate and other” category of our segment information. We had assets held for sale of $23.6 million at December 31, 2024, and $21.3 million at December 31, 2023.
See Note 19 of the Notes to Consolidated Financial Statements for information about our fair value measurement valuation process and impairment charges that were recorded during 2024, 2023, and 2022.
Leases
We lease numerous facilities and various types of equipment relating to our operations. See Note 10 of the Notes to Consolidated Financial Statements for a discussion of our significant accounting policies related to leases.
Goodwill and Other Intangible Assets, net
Goodwill consists of the cost of acquired businesses in excess of the fair value of the net assets acquired. Additionally, other intangible assets are separately recognized if the benefit of the intangible asset is obtained through contractual or other legal rights, or if the intangible asset can be sold, transferred, licensed, rented, or exchanged, regardless of our intent to do so.
Our principal identifiable intangible assets are rights under franchise agreements with vehicle manufacturers. We generally expect our franchise agreements to survive for the foreseeable future and, when the agreements do not have indefinite terms, anticipate routine renewals of the agreements without substantial cost. The contractual terms of our franchise agreements provide for various durations, ranging from one year to no expiration date, and in certain cases,
manufacturers have undertaken to renew such franchises upon expiration so long as the dealership is in compliance with the terms of the agreement. However, in general, the states in which we operate have automotive dealership franchise laws that provide that, notwithstanding the terms of any franchise agreement, it is unlawful for a manufacturer to terminate or not renew a franchise unless “good cause” exists. It is generally difficult, outside of bankruptcy, for a manufacturer to terminate or not renew a franchise under these franchise laws, which were designed to protect dealers. In addition, in our experience and historically in the automotive retail industry, dealership franchise agreements are rarely involuntarily terminated or not renewed by the manufacturer outside of bankruptcy. Accordingly, we believe that our franchise agreements will contribute to cash flows for the foreseeable future and have indefinite lives. Other intangible assets are amortized using a straight-line method over their useful lives, generally ranging from three to thirty years.
We do not amortize goodwill or franchise rights assets. Goodwill and franchise rights are tested for impairment annually or more frequently when events or changes in circumstances indicate that impairment may have occurred. During 2024, we did not record any goodwill impairment charges and recorded $12.5 million of franchise rights impairment charges. During 2023 and 2022, we did not record any goodwill or franchise rights impairment charges. See Note 9 of the Notes to Consolidated Financial Statements for more information about our goodwill and other intangible assets and Note 19 of the Notes to Consolidated Financial Statements for information about our impairment tests of goodwill and franchise rights.
Other Current Assets
Other current assets consist of various items, including, among other items, prepaid expenses, deposits, assets held for sale, and contract assets. Other current assets also include restricted cash on deposit in reserve accounts for the benefit of holders of certain non-recourse debt. These funds are not expected to be available to the company or its creditors.
Other Assets
Other assets consist of various items, including, among other items, service loaner and rental vehicle inventory, net, the cash surrender value of corporate-owned life insurance held in a Rabbi Trust for deferred compensation plan participants, and investments in equity securities.
Other Current Liabilities
Other current liabilities consist of various items payable within one year including, among other items, accruals for payroll and benefits, sales taxes, the current portions of finance and insurance chargeback liabilities and operating lease liabilities, customer deposits, income taxes payable, accrued expenses, and accrued interest payable.
Other Liabilities
Other liabilities consist of various items payable beyond one year including, among other items, the long-term portions of deferred compensation obligations, finance and insurance chargeback liabilities, contract liabilities, and self-insurance liabilities.
Employee Savings Plans
We offer a 401(k) plan to all of our associates and provided a matching contribution to certain associates that participate in the plan of $25.3 million in 2024, $24.5 million in 2023, and $19.9 million in 2022. Employer matching contributions are fully vested immediately upon contribution.
We offer a deferred compensation plan (the “Plan”) to provide certain associates and non-employee directors with the opportunity to accumulate assets for retirement on a tax-deferred basis. Participants in the Plan are allowed to defer a portion of their compensation and are fully vested in their respective deferrals and earnings. Participants may choose from a variety of investment options, which determine their earnings credits. We provided a matching contribution to employee participants in the Plan of $2.0 million for 2024, $2.1 million for 2023, and $1.3 million for 2022. One-third of the matching contribution is vested and credited to participants on the first day of the subsequent calendar year, and an
additional one-third vests and is credited on each of the first and second anniversaries of such date. We may also make discretionary contributions, which vest three years after the effective date of the discretionary contribution. The balances due to participants in the Plan were $139.5 million as of December 31, 2024, and $129.3 million as of December 31, 2023, and are included in Other Current Liabilities and Other Liabilities in the accompanying Consolidated Balance Sheets.
Stock-Based Compensation
We grant stock-based awards in the form of time-based, performance-based, and market-based restricted stock units (“RSUs”), which are issued from our treasury stock upon vesting. Compensation cost for time-based and performance-based RSUs is based on the closing price of our common stock on the date of grant. Compensation cost for market-based RSUs is based on the fair value of the award calculated using a Monte Carlo simulation model on the date of grant.
Certain of our equity-based compensation plans contain provisions that provide for vesting of awards upon retirement. Accordingly, compensation cost for time-based RSUs is recognized on a straight-line basis over the shorter of the stated vesting period or the period until associates become retirement-eligible. Compensation cost for performance-based RSUs is recognized based on the expected achievement level of the performance goals, which is evaluated over the performance period, and recognized over the shorter of the stated vesting period or the period until associates become retirement-eligible. Compensation cost for market-based RSUs is recognized over the shorter of the stated vesting period or the period until associates become retirement-eligible, regardless of whether the market condition is satisfied. We account for forfeitures of stock-based awards as they occur. See Note 16 of the Notes to Consolidated Financial Statements for more information about our stock-based compensation arrangements.
Revenue Recognition
Revenue consists of the sales of new and used vehicles, sales of parts and automotive services, commissions for the placement of finance and insurance products, and sales of other products. See Note 2 of the Notes to Consolidated Financial Statements for a discussion of our significant accounting policies related to revenue recognition.
AutoNation Finance Income (Loss)
AutoNation Finance Income (Loss) includes the results of our captive auto finance company. See Note 3 of the Notes to Consolidated Financial Statements for more information.
Insurance
Under our self-insurance programs, we retain various levels of aggregate loss limits, per claim deductibles, and claims-handling expenses as part of our various insurance programs, including property and casualty, automobile, workers’ compensation, and employee medical benefits. Costs in excess of this retained risk per claim may be insured under various contracts with third-party insurance carriers. We review our claim and loss history on a periodic basis to assist in assessing our future liability. The ultimate costs of these retained insurance risks, including related legal costs, are estimated by management and by third-party actuarial evaluation of historical claims experience, adjusted for current trends and changes in claims-handling procedures. See Note 13 of the Notes to Consolidated Financial Statements for more information on our self-insurance liabilities.
Manufacturer Incentives and Other Rebates
We receive various incentives from manufacturers based on achieving certain objectives, such as specified sales volume targets, as well as other objectives, including maintaining standards of a particular vehicle brand, which may include but are not limited to facility image and design requirements, customer satisfaction survey results, and training standards, among others. These incentives are typically based upon units purchased or sold. These manufacturer incentives are recognized as a reduction of new vehicle cost of sales when earned, generally at the time the related vehicles are sold or upon attainment of the particular program goals, whichever is later.
We also receive manufacturer rebates and assistance for holdbacks, floorplan interest, and non-reimbursement-based advertising expenses (described below), which are reflected as a reduction in the carrying value of each vehicle purchased by us. We recognize holdbacks, floorplan interest assistance, non-reimbursement-based advertising rebates, cash incentives, and other rebates received from manufacturers that are tied to specific vehicles as a reduction to cost of sales as the related vehicles are sold.
Advertising
We generally expense the cost of advertising as incurred, net of earned manufacturer reimbursements for specific advertising costs and other discounts. Advertising expense, net of manufacturer advertising reimbursements, was $255.5 million in 2024, $243.5 million in 2023, and $184.3 million in 2022, and is reflected as a component of Selling, General, and Administrative Expenses in the accompanying Consolidated Statements of Income.
Manufacturer advertising rebates that are reimbursements of costs associated with specific advertising expenses are earned in accordance with the respective manufacturers’ reimbursement-based advertising assistance programs, which is typically after we have incurred the corresponding advertising expenses, and are reflected as a reduction of advertising expense. Manufacturer advertising reimbursements classified as an offset to advertising expenses were $63.0 million in 2024, $61.3 million in 2023, and $58.2 million in 2022. All other non-reimbursement-based manufacturer advertising rebates that are not associated with specific advertising expenses are recorded as a reduction of inventory and recognized as a reduction of new vehicle cost of sales in the period the related vehicle is sold.
Parts and Service Internal Profit
Our parts and service departments recondition the majority of used vehicles acquired by our used vehicle departments and perform preparatory work and accessory installation on new vehicles acquired by our new vehicle departments. The parts and service departments charge the new and used vehicle departments as if they were third parties in order to account for total activity performed by that department. Revenues and costs of sales associated with the internal work performed by our parts and service departments are reflected in our parts and service results in our Consolidated Statements of Income. New and used vehicle revenues and costs of sales are reduced by the amount of the intracompany charge. As a result, the revenues and costs of sales associated with the internal work performed by our parts and service departments are eliminated in consolidation. We also defer internal profit associated with the internal work performed by our parts and service departments on our vehicle inventory until such vehicles have been sold.
Income Taxes
We file a consolidated federal income tax return. Deferred income taxes have been provided for temporary differences between the recognition of revenue and expenses for financial and income tax reporting purposes and between the tax basis of assets and liabilities and their reported amounts in the financial statements. See Note 14 of the Notes to Consolidated Financial Statements for more detailed information related to income taxes.
Earnings Per Share
Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding for the period, including vested RSU awards. Diluted earnings per share is computed using the treasury stock method by dividing net income by the weighted average number of shares outstanding, noted above, including the dilutive effect of unvested RSU awards and stock options. See Note 4 of the Notes to Consolidated Financial Statements for more information on the computation of earnings per share.
Recent Accounting Pronouncements
In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, that requires disclosure of significant segment expenses that are regularly reviewed by the chief operating decision maker and included within each reported measure of segment profit or loss. The standard also requires
disclosure of the composition of other segment items included in the measure of segment profit or loss that are not separately disclosed. The new standard is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. We adopted this accounting standard for our fiscal year beginning January 1, 2024, retrospectively. Therefore, prior periods have been updated to conform with the current period presentation. See Note 22 of the Notes to Consolidated Financial Statements for our reportable segment disclosures.
In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, that requires presentation of specific categories of reconciling items, as well as reconciling items that meet a quantitative threshold, in the reconciliation between the income tax provision and the income tax provision using statutory tax rates. The standard also requires disclosure of income taxes paid disaggregated by jurisdiction with separate disclosure of income taxes paid to individual jurisdictions that meet a quantitative threshold. The amendments in this accounting standard are effective for fiscal years beginning after December 15, 2024, on a prospective basis. Early adoption and retrospective application are permitted. We do not expect the adoption of this accounting standard to have an impact on our Consolidated Financial Statements, but will require certain additional disclosures.
In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, that requires disclosure of the amounts of purchases of inventory, employee compensation, depreciation, and intangible asset amortization included in each relevant expense line item on the income statement. The standard also requires a qualitative description of other amounts included in each relevant expense line item on the income statement that are not separately disclosed. In addition, entities are required to disclose the nature and amount of selling expenses. The new standard is effective for fiscal years beginning after December 15, 2026, and interim periods beginning after December 15, 2027. Early adoption is permitted. We do not expect the adoption of this accounting standard to have an impact on our Consolidated Financial Statements, but will require certain additional disclosures.
v3.25.0.1
Revenue Recognition
 12 Months Ended
Dec. 31, 2024
Revenue Recognition [Abstract]  
Revenue Recognition REVENUE RECOGNITION
Disaggregation of Revenue
The significant majority of our revenue is from contracts with customers. Taxes assessed by governmental authorities that are directly imposed on revenue transactions are excluded from revenue and expenses. In the following tables, revenue is disaggregated by major lines of goods and services and timing of transfer of goods and services. The tables also include a reconciliation of the disaggregated revenue to reportable segment revenue.
Year Ended December 31, 2024
DomesticImportPremium Luxury
Corporate and other(1)
Total
Major Goods/Service Lines
New vehicle$3,527.1 $4,320.0 $5,201.1 $— $13,048.2 
Used vehicle2,057.5 2,162.5 2,837.0 662.9 7,719.9 
Parts and service1,146.0 1,194.7 1,667.4 606.5 4,614.6 
Finance and insurance, net402.5 470.9 434.1 52.6 1,360.1 
Other7.2 8.8 0.3 6.3 22.6 
$7,140.3 $8,156.9 $10,139.9 $1,328.3 $26,765.4 
Timing of Revenue Recognition
Goods and services transferred at a point in time$6,285.7 $7,212.3 $8,703.6 $916.4 $23,118.0 
Goods and services transferred over time(2)
854.6 944.6 1,436.3 411.9 3,647.4 
$7,140.3 $8,156.9 $10,139.9 $1,328.3 $26,765.4 
Year Ended December 31, 2023
DomesticImportPremium Luxury
Corporate and other(1)
Total
Major Goods/Service Lines
New vehicle$3,525.0 $3,996.0 $5,246.4 $— $12,767.4 
Used vehicle2,428.4 2,222.2 2,979.5 568.4 8,198.5 
Parts and service1,184.7 1,150.1 1,593.1 605.8 4,533.7 
Finance and insurance, net432.0 490.1 446.2 50.5 1,418.8 
Other3.1 22.5 1.2 3.7 30.5 
$7,573.2 $7,880.9 $10,266.4 $1,228.4 $26,948.9 
Timing of Revenue Recognition
Goods and services transferred at a point in time$6,723.2 $6,988.3 $8,911.4 $819.9 $23,442.8 
Goods and services transferred over time(2)
850.0 892.6 1,355.0 408.5 3,506.1 
$7,573.2 $7,880.9 $10,266.4 $1,228.4 $26,948.9 
Year Ended December 31, 2022
DomesticImportPremium Luxury
Corporate and other(1)
Total
Major Goods/Service Lines
New vehicle$3,409.1 $3,473.0 $4,872.3 $— $11,754.4 
Used vehicle3,022.3 2,652.7 3,499.8 487.0 9,661.8 
Parts and service1,092.7 1,050.9 1,448.6 508.4 4,100.6 
Finance and insurance, net460.3 494.1 453.8 29.1 1,437.3 
Other3.1 19.6 3.6 4.6 30.9 
$7,987.5 $7,690.3 $10,278.1 $1,029.1 $26,985.0 
Timing of Revenue Recognition
Goods and services transferred at a point in time$7,226.9 $6,896.2 $9,063.1 $703.7 $23,889.9 
Goods and services transferred over time(2)
760.6 794.1 1,215.0 325.4 3,095.1 
$7,987.5 $7,690.3 $10,278.1 $1,029.1 $26,985.0 
(1) “Corporate and other” is comprised of our non-franchised businesses, including AutoNation USA used vehicle stores, collision centers, parts distribution centers, auction operations, and AutoNation Mobile Service.
(2) Represents revenue recognized during the period for automotive repair and maintenance services.
Performance Obligations and Significant Judgments and Estimates Related to Revenue Recognition
New and Used Vehicle
We sell new vehicles at our franchised dealerships and used vehicles at our franchised dealerships, AutoNation USA used vehicle stores, and wholesale auctions. The transaction price for a vehicle sale is determined with the customer at the time of sale. Customers often trade in their own vehicle to apply toward the purchase of a retail new or used vehicle. The “trade-in” vehicle is a type of noncash consideration measured at fair value, based on external and internal market data for the specific vehicle, and applied as payment to the contract price for the purchased vehicle.
When we sell a new or used vehicle, we typically transfer control at a point in time upon delivery of the vehicle to the customer, which is generally at time of sale, as the customer is able to direct the use of, and obtain substantially all of the benefits from, the vehicle at such time. We do not directly finance our customers’ vehicle purchases or leases. We offer indirect financing on certain vehicles we sell, and income from such financing is reflected in AutoNation Finance Income (Loss) in our Consolidated Statements of Income. In many cases, we arrange third-party financing for the retail sale or lease of vehicles to our customers in exchange for a fee paid to us by the third-party financial institution. We receive payment directly from the customer at the time of sale, from the third-party financial institution (referred to as contracts-in-transit or vehicle receivables, which are part of our receivables from contracts with customers), or from our captive auto finance company within a short period of time following the sale. We establish provisions, which are not significant, for estimated returns and warranties on the basis of both historical information and current trends.
We also offer auction services at our AutoNation-branded automotive auctions, revenue from which is included within Used Vehicle wholesale revenue. The transaction price for auction services is based on an established pricing schedule and determined with the customer at the time of sale, and payment is due upon completion of service. We satisfy our performance obligations related to auction services at the point in time that control transfers to the customer, which is when the service is completed.
Parts and Service
We sell parts and automotive services related to customer-paid repairs and maintenance, repairs and maintenance under manufacturer warranties and extended service contracts, and collision-related repairs. We also sell parts through our wholesale and retail counter channels, as well as our e-commerce website.
Each automotive repair and maintenance service is a single performance obligation that includes both the parts and labor associated with the service. Payment for automotive service work is typically due upon completion of the service, which is generally completed within a short period of time from contract inception. The transaction price for automotive repair and maintenance services is based on the parts used, the number of labor hours applied, and standardized hourly labor rates. We satisfy our performance obligations, transfer control, and recognize revenue over time for automotive repair and maintenance services because we are creating an asset with no alternative use and we have an enforceable right to payment for performance completed to date. We use an input method to recognize revenue and measure progress based on labor hours expended relative to the total labor hours expected to be expended to satisfy the performance obligation. We have determined labor hours expended to be the relevant measure of work performed to complete the automotive repair or maintenance service for the customer. As a practical expedient, since automotive repair and maintenance service contracts have an original duration of one year or less, we do not consider the time value of money, and we do not disclose estimated revenue expected to be recognized in the future for performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period or when we expect to recognize such revenue.
The transaction price for wholesale and retail counter parts sales is determined at the time of sale based on the quantity and price of each product purchased. Payment is typically due at time of sale, or within a short period of time following the sale. We establish provisions, which are not significant, for estimated parts returns based on historical information and current trends. Delivery methods of wholesale and retail counter parts vary; however, we generally consider control of wholesale and retail counter parts to transfer when the products are shipped, which typically occurs the same day as or within a few days of the sale.
Finance and Insurance
We sell and receive a commission on the following types of finance and insurance products: extended service contracts, maintenance programs, guaranteed auto protection (known as “GAP,” this protection covers the shortfall between a customer’s loan balance and insurance payoff in the event of a casualty), “tire and wheel” protection, and theft protection products, among others. We offer products that are sold and administered by independent third parties, including the vehicle manufacturers’ captive finance subsidiaries.
Pursuant to our arrangements with these third-party providers, we sell the products on a commission basis, and, for certain products, we also participate in future profit pursuant to retrospective commission arrangements with the issuers of those contracts through the life of the related contracts. For retrospective commission arrangements, we are paid annually based on the annual performance of the issuers’ product portfolio. For the majority of finance and insurance product sales, our performance obligation is to arrange for the provision of goods or services by another party. Our performance obligation is satisfied when this arrangement is made, which is when the finance and insurance product is delivered to the end-customer, generally at the time of the vehicle sale. As agent, we recognize revenue in the amount of any fee or commission to which we expect to be entitled, which is the net amount of consideration that we retain after paying the third-party provider the consideration received in exchange for the goods or services to be fulfilled by that party.
The retrospective commission we earn on each product sold is a form of variable consideration that is subject to constraint due to it being highly susceptible to factors outside our influence and control. Our agreements with the third-party administrators generally provide for an annual retrospective commission payout based on the product portfolio performance for that year. We estimate variable consideration related to retrospective commissions and perform a constraint analysis using the expected value method based on the historical performance of the product portfolios and current trends to estimate the amount of retrospective commissions to which we expect we will be entitled. At each reporting period, we reassess our expectations about the amount of retrospective commission variable consideration to which we expect to be entitled and recognize revenue when we no longer believe a significant revenue reversal is probable.
Additionally, we may be charged back for commissions related to finance and insurance products in the event of early termination, default, or prepayment of the contracts by end-customers (“chargebacks”). An estimated refund liability for chargebacks against the revenue recognized from sales of finance and insurance products is recorded in the period in which the related revenue is recognized and is based primarily on our historical chargeback experience. We update our measurement of the chargeback liability at each reporting date for changes in expectations about the amount of chargebacks. See Note 12 of the Notes to Consolidated Financial Statements for more information regarding chargeback liabilities.
We also sell a vehicle maintenance program (the Vehicle Care Program or “VCP”) where we act as the principal in the sale since we have the primary responsibility to provide the specified services to the customer under the VCP contract. When a VCP product is sold in conjunction with the sale of a vehicle to the same customer, the stand-alone selling prices of each product are based on observable selling prices. Under a VCP contract, a customer purchases a specific number of maintenance services to be redeemed at an AutoNation location over a five-year term from the date of purchase. We satisfy our performance obligations and recognize revenue as maintenance services are rendered, since the customer benefits when we have completed the maintenance service. Although payment is due from the customer at the time of sale and services are rendered at points in time during a five-year contract term, these contracts do not contain a significant financing component as the transfer of services is at the discretion of the customer. The following table includes estimated revenue expected to be recognized in the future related to VCP performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period.
Revenue Expected to Be Recognized by Period
TotalNext 12 Months13 - 36 Months37 - 60 Months
Revenue expected to be recognized on VCP contracts sold as of period end
$112.0 $39.0 $54.4 $18.6 
We also recognize revenue, net of estimated chargebacks, for commissions earned by us for the transfer of financial assets when we arrange installment loans and leases with third-party lenders in connection with customer vehicle purchases.
Other Revenue
The majority of our other revenue is generated from the sale of vehicles to fleet/rental car companies that are specifically ordered for such companies (“fleet” sales). Revenue recognition for fleet sales is very similar to the recognition of revenue for new vehicles, described above.
Contract Assets and Liabilities
When the timing of our provision of goods or services is different from the timing of payments made by our customers, we recognize either a contract asset (performance precedes contractual due date) or a contract liability (customer payment precedes performance). Contract assets primarily relate to our right to consideration for work in process not yet billed at the reporting date associated with automotive repair and maintenance services, as well as our estimate of variable consideration that has been included in the transaction price for certain finance and insurance products (retrospective commissions). These contract assets are reclassified to receivables when the right to consideration becomes unconditional. Contract liabilities primarily relate to upfront payments received from customers for the sale of VCP contracts.
Our receivables from contracts with customers are included in Receivables, net, our current contract asset is included with Other Current Assets, our long-term contract asset is included with Other Assets, our current contract liability is included with Other Current Liabilities, and our long-term contract liability is included with Other Liabilities in our Consolidated Balance Sheets.
The following table provides the balances at December 31 of our receivables from contracts with customers and our current and long-term contract assets and contract liabilities:
202420232022
Receivables from contracts with customers, net$774.0 $762.0 $634.5 
Contract Asset (Current)$20.4 $23.1 $27.7 
Contract Asset (Long-Term)$2.8 $3.2 $8.6 
Contract Liability (Current)$43.9 $42.5 $41.8 
Contract Liability (Long-Term)$72.9 $70.6 $66.6 
The change in the balances of our contract assets and contract liabilities primarily result from the timing differences between our performance and the customer’s payment, as well as changes in the estimated transaction price related to variable consideration for performance obligations satisfied in previous periods. The following table presents revenue recognized during the year from amounts included in the contract liability balance at the beginning of the period and adjustments to revenue related to performance obligations satisfied in previous periods:
202420232022
Amounts included in contract liability at the beginning of the period$37.1 $35.0 $33.6 
Performance obligations satisfied in previous periods$0.8 $— $2.1 
Other significant changes include contract assets reclassified to receivables of $23.8 million during 2024 and $29.1 million in 2023.
Contract Costs
For sales commissions incurred related to sales of vehicles and sales of finance and insurance products for which we act as agent, we have elected as a practical expedient to not capitalize the incremental costs to obtain those contracts since they are point-of-sale transactions and the amortization period would be immediate.
Sales commissions and third-party administrator fees incurred related to sales of VCP products are capitalized since these payments are directly related to sales achieved during a time period and would not have been incurred if the contract had not been obtained. Since the capitalized costs are related to services that are transferred during a five-year contract term, we amortize the assets over the contract term of five years consistent with the pattern of transfer of the service to which the assets relate. We had capitalized costs incurred to obtain or fulfill a VCP contract with a customer of $11.0 million as of December 31, 2024, and $10.4 million at December 31, 2023. We amortized $4.0 million and $4.0 million of these capitalized costs during 2024 and 2023, respectively.
v3.25.0.1
AutoNation Finance Income (Loss)
 12 Months Ended
Dec. 31, 2024
AutoNation Finance Income (Loss) [Abstract]  
AutoNation Finance Income (Loss) AUTONATION FINANCE INCOME (LOSS)
AutoNation Finance (“ANF”), our captive auto finance company, provides indirect financing to qualified retail customers on vehicles we sell. Prior to October 2023, ANF also purchased retail vehicle installment sales contracts through third-party dealers. ANF income (loss) includes the interest and fee income generated by auto loans receivable less the interest expense associated with the debt issued or used to fund these receivables, a provision for estimated credit losses on the auto loans receivable originated or acquired, direct expenses, and gains or losses on the sale of auto loans receivable. Interest income on auto loans receivable is recognized over the contractual term of the related loans. ANF income (loss) does not include amortization of intercompany discounts or intercompany dealer participation fees. Direct costs associated
with loan originations are capitalized and amortized using the effective interest method. The following table presents the components of AutoNation Finance income (loss):
20242023
2022(1)
Interest margin:
Interest and fee income $118.4 $84.0 $20.6 
Interest expense (39.8)(20.8)(4.7)
Total interest margin78.6 63.2 15.9 
Provision for credit losses(57.5)(45.9)(44.0)
Total interest margin after provision for loan losses
21.1 17.3 (28.1)
Direct expenses(2)
(37.8)(39.3)(9.5)
Gain on sale of auto loans receivable 7.4 8.1 — 
AutoNation Finance income (loss)
$(9.3)$(13.9)$(37.6)
(1) Reflects activity that occurred after the acquisition of CIG Financial on October 1, 2022. Provision for credit losses includes initial credit loss expense of $34.2 million associated with the auto loans portfolio acquired as part of the acquisition.
(2) Direct expenses are comprised primarily of compensation expenses and loan administration costs incurred by our auto finance company.
During 2024, we sold loans with an aggregate amortized cost of $88.6 million, net of allowance for expected credit losses of $11.7 million, for cash proceeds of $96.0 million. During 2023, we sold loans with an aggregate amortized cost of $60.6 million, net of allowance for expected credit losses of $16.1 million, for cash proceeds of $68.7 million. We recorded a net pre-tax gain on the sale of auto loans receivable of $7.4 million and $8.1 million during 2024 and 2023, respectively. We have no continuing involvement in the sold loans as they were sold without recourse to us for their post-sale performance.
We typically use non-recourse funding facilities, including warehouse facilities and asset-backed term funding transactions, as well as free cash flow from operations to fund the auto loans receivable of ANF. See Notes 6 and 11 of the Notes to Consolidated Financial Statements for more information about our auto loans receivable and related non-recourse debt, respectively.
v3.25.0.1
Earnings Per Share
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Earnings Per Share EARNINGS PER SHARE
Basic earnings per share (“EPS”) is computed by dividing net income by the weighted average number of common shares outstanding for the period, including vested RSU awards. Diluted EPS is calculated using the treasury stock method by dividing net income by the weighted average number of shares outstanding, noted above, including the dilutive effect of unvested RSU awards and stock options. The following table presents the calculation of basic and diluted EPS:
 202420232022
Net income from continuing operations
$692.2 $1,020.2 $1,377.7 
Income (loss) from discontinued operations, net of income taxes
— 0.9 (0.3)
Net income
$692.2 $1,021.1 $1,377.4 
Basic weighted average common shares outstanding40.5 44.6 56.3 
Dilutive effect of unvested RSUs and stock options0.4 0.3 0.4 
Diluted weighted average common shares outstanding40.9 44.9 56.7 
Basic EPS amounts(1):
Continuing operations
$17.09 $22.87 $24.47 
Discontinued operations
$— $0.02 $(0.01)
Net income
$17.09 $22.89 $24.47 
Diluted EPS amounts(1):
Continuing operations
$16.92 $22.72 $24.30 
Discontinued operations
$— $0.02 $(0.01)
Net income
$16.92 $22.74 $24.29 
(1) EPS amounts are calculated discretely and, therefore, may not add up to the total due to rounding.
In June 2024, we experienced an outage of our dealer management system provided by CDK Global, which is used to support our dealership operations, including our sales, service, inventory, customer relationship management, and accounting functions. Access to core functions of this system was restored by the end of June 2024, and certain ancillary systems and integrations were restored by the end of July 2024, with residual impacts resolved by the end of the third quarter 2024. As a result, our results of operations and earnings per share were negatively impacted by lost income from the disruption to our operations and one-time compensation costs paid to commission-based associates to ensure business continuity.
v3.25.0.1
Receivables, Net
 12 Months Ended
Dec. 31, 2024
Receivables [Abstract]  
Receivables, Net RECEIVABLES, NET
The components of receivables, net of allowances for expected credit losses, at December 31 are as follows:
20242023
Contracts-in-transit and vehicle receivables$560.2 $553.8 
Trade receivables168.5 173.2 
Manufacturer receivables267.1 240.5 
Income taxes receivable (see Note 14)
— 11.1 
Other73.8 63.9 
1,069.6 1,042.5 
Less: allowances for expected credit losses(3.3)(2.1)
Receivables, net$1,066.3 $1,040.4 
Contracts-in-transit and vehicle receivables primarily represent receivables from financial institutions for the portion of the vehicle sales price financed by our customers. Trade receivables represent amounts due for parts and services sold, excluding amounts due from manufacturers, as well as receivables from finance organizations for commissions on the sale of finance and insurance products. Manufacturer receivables represent amounts due from manufacturers for holdbacks, rebates, incentives, floorplan assistance, and warranty claims. We evaluate our receivables for collectability based on past collection experience, current information, and reasonable and supportable forecasts.
v3.25.0.1
Auto Loans Receivable
 12 Months Ended
Dec. 31, 2024
Receivables [Abstract]  
Auto Loans Receivable AUTO LOANS RECEIVABLE
Auto loans receivable include amounts due from customers related to retail vehicle sales financed through AutoNation Finance, our captive auto finance company, as well as retail vehicle installment sales contracts acquired through third-party dealers prior to October 2023. Auto loans receivable are presented net of an allowance for expected credit losses. Auto loans receivable represent a large group of smaller-balance homogeneous loans, which we consider to be part of one class of financing receivable and one portfolio segment for purposes of determining our allowance for expected credit losses.
Auto Loans Receivable, Net
The components of auto loans receivable, net of third-party unearned discounts and allowances for expected credit losses, at December 31, are as follows:
20242023
Total auto loans receivable$1,103.8 $451.2 
Accrued interest and fees8.2 4.8 
Deferred loan origination costs4.2 1.6 
Less: unearned discounts(4.3)(8.9)
Less: allowances for expected credit losses(54.8)(46.3)
Auto loans receivable, net$1,057.1 $402.4 
Credit Quality
We utilize proprietary credit scoring models to rate the risk of default for customers that apply for financing by evaluating customer credit history and certain credit application information, including information such as income, collateral, and down payment. The scoring models yield credit program tiers that reflect our internal credit risk ratings and represent the relative likelihood of repayment. The assigned credit tier influences the terms of the agreement, such as the required loan-to-value ratio and interest rate. After origination, credit tier assignments by customer are generally not updated. We monitor the credit quality of the auto loans receivable on an ongoing basis and also validate the accuracy of the credit scoring models periodically. Loan performance is reviewed on a recurring basis to identify whether the assigned
credit tiers adequately reflect the customers’ likelihood of repayment, and if needed, adjustments are made to the scoring models on a prospective basis.
Auto Loans Receivable by Major Credit Program
The following table presents auto loans receivable as of December 31, 2024 and 2023, disaggregated by major credit program tier, in descending order of highest likelihood of repayment:
Fiscal Year of Origination
As of December 31, 2024
Weighted Average FICO Score
20242023202220212020Prior to 2020Total
Credit Program Tier(1):
Palladium
734$194.0 $— $— $— $— $— $194.0 
Rhodium
702147.6 16.9 0.1 — — — 164.6 
Platinum651525.1 82.3 1.7 4.0 1.0 0.1 614.2 
Gold62364.9 25.0 1.3 7.3 1.6 0.1 100.2 
Silver5740.3 13.4 1.2 5.4 1.2 0.1 21.6 
Bronze5510.1 4.0 0.2 2.8 0.6 — 7.7 
Copper562— 0.2 — 1.1 0.2 — 1.5 
Total auto loans receivable$932.0 $141.8 $4.5 $20.6 $4.6 $0.3 $1,103.8 
Current-period gross write-offs$7.9 $26.6 $14.8 $8.3 $2.1 $0.8 $60.5 
Fiscal Year of Origination
As of December 31, 2023
Weighted Average FICO Score
20232022202120202019Prior to 2019Total
Credit Program Tier(1):
Rhodium
701$27.6 $0.1 $— $— $— $— $27.7 
Platinum644136.3 14.7 8.2 3.3 3.1 0.5 166.1 
Gold61264.3 35.9 18.5 6.8 4.5 0.8 130.8 
Silver58350.2 33.0 16.2 5.2 2.8 0.3 107.7 
Bronze5566.7 0.7 6.0 1.5 0.1 — 15.0 
Copper5580.3 0.2 2.8 0.5 0.1 — 3.9 
Total auto loans receivable$285.4 $84.6 $51.7 $17.3 $10.6 $1.6 $451.2 
(1) Classified based on credit grade assigned when customer was initially approved for financing.
Allowance for Credit Losses
The allowance for credit losses represents the net credit losses expected over the remaining contractual life of our auto loans receivable. The allowance for credit losses is determined using a vintage-level statistical model that captures the relationship between historical changes in gross losses and the lifetime loss curves by month on book, credit tiers at origination, and seasonality, adjusted for expected recoveries based on historical recovery trends. The credit loss model also incorporates reasonable and supportable forecasts about the future utilizing a forecast of a macroeconomic variable, specifically, the change in U.S. disposable personal income, which we believe is most strongly correlated to evaluating and
predicting expected credit losses of our auto loans receivable. We utilize a reasonable and supportable forecast period of one year, after which we immediately revert to historical experience.
We periodically consider whether the use of alternative variables would result in improved credit loss model accuracy and revise the model when appropriate. We also consider whether qualitative adjustments are necessary for factors that are not reflected in the quantitative methods but impact the measurement of estimated credit losses. Such adjustments include the expectations of the impact of recent economic trends on customer behavior.
The net loss estimate is calculated by applying the loss rates developed using the methods described above to the amortized cost basis of the auto loans receivable. The change in the allowance for credit losses is recognized through an adjustment to the provision for credit losses.
Rollforward of Allowance for Credit Losses
The following is a rollforward of our allowance for expected credit losses for auto loans receivable for the years ended December 31, 2024 and 2023:
20242023
Balance as of beginning of year$46.3 $57.5 
Provision for credit losses
54.7 45.9 
Write-offs(60.5)(68.3)
Recoveries(1)
26.0 27.3 
Sold loans(11.7)(16.1)
Balance as of end of year$54.8 $46.3 
(1) Includes proceeds from the recovery of vehicle collateral, net of costs incurred.
We also estimate expected credit losses related to unfunded loan commitments and record a liability within Other Current Liabilities in our Consolidated Balance Sheets. The change in the liability is recognized through an adjustment to the provision for credit losses. As of December 31, 2024, the credit loss liability totaled $2.8 million.
Past Due Auto Loans Receivable
An account is considered delinquent if 95% of the required principal and interest payments have not been received as of the date such payments were due. All loans continue to accrue interest until repayment, write-off, or when a loan reaches 75 days past due. If payment is received after a loan has stopped accruing interest due to reaching 75 days past due, the loan will be deemed current and the accrual of interest resumes. When a write-off occurs, accrued interest is written off by reversing interest income. Payments received on nonaccrual assets are recorded using a combination of the cost recovery method and the cash basis method depending on whether the related loan has been written off. In general, accounts are written off on the last business day of the month during which the earliest of the following occurs: the receivable is 120 days or more delinquent as of the last business day of the month and the related vehicle has not been repossessed, the
vehicle has been repossessed and liquidated, or the related vehicle has been in repossession inventory for at least 60 days. The following table presents past due auto loans receivable, as of December 31, 2024 and 2023:
Age Analysis of Past-Due Financial Assets as of December 31,
20242023
31-60 Days$20.6 $20.7 
61-90 Days5.5 5.4 
Greater than 90 Days2.7 3.1 
Total Past Due$28.8 $29.2 
Current1,075.0 422.0 
Total$1,103.8 $451.2 
v3.25.0.1
Inventory and Vehicle Floorplan Payable
 12 Months Ended
Dec. 31, 2024
Inventory And Vehicle Floorplan Payable [Abstract]  
Inventory And Vehicle Floorplan Payable INVENTORY AND VEHICLE FLOORPLAN PAYABLE
The components of inventory at December 31 are as follows:
20242023
New vehicles$2,341.4 $1,948.6 
Used vehicles754.1 815.3 
Parts, accessories, and other264.5 269.5 
Inventory
$3,360.0 $3,033.4 

The components of vehicle floorplan payable at December 31 are as follows:
20242023
Vehicle floorplan payable - trade$2,216.2 $1,760.0 
Vehicle floorplan payable - non-trade1,493.5 1,622.4 
Vehicle floorplan payable
$3,709.7 $3,382.4 
Vehicle floorplan payable-trade reflects amounts borrowed to finance the purchase of specific new and, to a lesser extent, used vehicle inventories with the corresponding manufacturers’ captive finance subsidiaries (“trade lenders”). Vehicle floorplan payable-non-trade represents amounts borrowed to finance the purchase of specific new and, to a lesser extent, used vehicle inventories with non-trade lenders, as well as amounts borrowed under our secured used vehicle floorplan facilities. Changes in vehicle floorplan payable-trade are reported as operating cash flows and changes in vehicle floorplan payable-non-trade are reported as financing cash flows in the accompanying Consolidated Statements of Cash Flows.
Our inventory costs are generally reduced by manufacturer holdbacks, incentives, floorplan assistance, and non-reimbursement-based manufacturer advertising rebates, while the related vehicle floorplan payables are reflective of the gross cost of the vehicle. The vehicle floorplan payables, as shown in the above table, may also be higher than the inventory cost due to the timing of the sale of a vehicle and payment of the related liability.
Vehicle floorplan facilities are due on demand, but in the case of new vehicle inventories, are generally paid within several business days after the related vehicles are sold. Vehicle floorplan facilities are primarily collateralized by vehicle inventories and related receivables.
At December 31, 2024, our new vehicle floorplan facilities utilized Prime-based and SOFR-based interest rates. Our new vehicle floorplan outstanding had a weighted-average interest rate of 6.1% at December 31, 2024, and 7.1% at December 31, 2023. At December 31, 2024, the aggregate capacity under our new vehicle floorplan facilities to finance our new vehicle inventory was approximately $4.6 billion, of which $3.2 billion had been borrowed.
At December 31, 2024, our used vehicle floorplan facilities utilized Prime-based and SOFR-based interest rates. Our used vehicle floorplan outstanding had a weighted-average interest rate of 5.8% at December 31, 2024, and 6.9% at December 31, 2023. At December 31, 2024, the aggregate capacity under our used vehicle floorplan facilities to finance a portion of our used vehicle inventory was $809.8 million, of which $546.3 million had been borrowed. The remaining borrowing capacity of $263.5 million was limited to $0.4 million based on the eligible used vehicle inventory that could have been pledged as collateral.
v3.25.0.1
Property and Equipment, Net
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net PROPERTY AND EQUIPMENT, NET
A summary of property and equipment, net, at December 31 is as follows:
20242023
Land$1,523.2 $1,539.5 
Buildings and improvements3,004.7 2,898.1 
Furniture, fixtures, and equipment1,583.2 1,486.7 
6,111.1 5,924.3 
Less: accumulated depreciation and amortization(2,319.2)(2,132.7)
Property and equipment, net$3,791.9 $3,791.6 
We capitalized interest in connection with various construction projects to build, upgrade, or remodel our facilities of $1.5 million in 2024, $1.4 million in 2023, and $2.2 million in 2022.
v3.25.0.1
Goodwill and Intangible Assets, Net
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill And Intangible Assets, Net GOODWILL AND INTANGIBLE ASSETS, NET
Goodwill and intangible assets, net, at December 31 consisted of the following:
20242023
Goodwill$1,452.9 $1,465.8 
Franchise rights - indefinite-lived$861.2 $876.2 
Other intangible assets68.0 68.0 
929.2 944.2 
Less: accumulated amortization(23.3)(16.4)
Intangible assets, net$905.9 $927.8 
Goodwill
Goodwill allocated to our reporting units and changes in the carrying amount of goodwill for the years ended December 31, 2024 and 2023, were as follows:
DomesticImportPremium
Luxury
AN Finance
OtherConsolidated
Balance as of January 1, 2023
Goodwill (1)
$376.3 $518.7 $739.5 $78.3 $1,535.6 $3,248.4 
Accumulated impairment losses (1)
(140.0)— (257.4)— (1,530.9)(1,928.3)
236.3 518.7 482.1 78.3 4.7 1,320.1 
Acquisitions, dispositions, and other adjustments, net (2)
(1.8)7.9 — 0.1 139.5 145.7 
Balance as of December 31, 2023
Goodwill (1)
374.5 526.6 739.5 78.4 1,675.1 3,394.1 
Accumulated impairment losses (1)
(140.0)— (257.4)— (1,530.9)(1,928.3)
234.5 526.6 482.1 78.4 144.2 1,465.8 
Acquisitions, dispositions, and other adjustments, net (2)
(11.1)(2.3)(0.4)— 0.9 (12.9)
Balance as of December 31, 2024
Goodwill (1)
363.4 524.3 739.1 78.4 1,676.0 3,381.2 
Accumulated impairment losses (1)
(140.0)— (257.4)— (1,530.9)(1,928.3)
$223.4 $524.3 $481.7 $78.4 $145.1 $1,452.9 
(1)    Gross goodwill balance and accumulated impairment losses reflected in “Other” include $1.47 billion associated with our single reporting unit (prior to September 30, 2008, our reporting unit reporting structure was comprised of a single reporting unit). Gross goodwill balance reflected in “Other” also includes amounts associated with the Collision Center, Parts Center, and AutoNation Mobile Service reporting units, as applicable in a given period.
(2)    Includes amounts reclassified to held for sale and related adjustments, which are presented in Other Current Assets in our Consolidated Balance Sheets as of period end.
See Note 19 of the Notes to Consolidated Financial Statements for more information about our goodwill impairment test.
Intangible Assets
Our principal identifiable intangible assets are individual store rights under franchise agreements with vehicle manufacturers. As of December 31, 2024, we had $861.2 million of franchise rights recorded on our Consolidated Balance Sheets, of which $225.6 million was related to Domestic stores, $189.6 million was related to Import stores, and $446.0 million was related to Premium Luxury stores.
See Note 19 of the Notes to Consolidated Financial Statements for more information about our franchise rights impairment tests.
v3.25.0.1
Leases
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Leases LEASES
General description
The significant majority of leases that we enter into are for real estate. We lease numerous facilities relating to our operations, including primarily for automobile showrooms, display lots, service facilities, collision repair centers, supply facilities, automobile storage lots, parking lots, offices, and our corporate headquarters. Leases for real property generally have terms ranging from 1 to 25 years. We also lease various types of equipment, including security cameras, diagnostic equipment, copiers, key-cutting machines, and postage machines, among others. Equipment leases generally have terms
ranging from 1 to 5 years. In addition, we lease certain vehicles from vehicle manufacturers to provide our service customers with the use of a vehicle while their vehicles are being serviced at our dealerships. These service loaner vehicle leases generally have terms ranging from 6 to 18 months, and we typically purchase the service loaner vehicles at the end of the lease.
Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. We do not have any significant leases that have not yet commenced but that create significant rights and obligations for us. We have elected the practical expedient under ASC Topic 842 to not separate lease and nonlease components for the following classes of underlying assets: real estate, office equipment, service loaner vehicles, and marketing-related assets (e.g., billboards).
Our real estate and equipment leases often require that we pay maintenance in addition to rent. Additionally, our real estate leases generally require payment of real estate taxes and insurance. Maintenance, real estate taxes, and insurance payments are generally variable and based on actual costs incurred by the lessor. Therefore, these amounts are not included in the consideration of the contract when determining the right-of-use (“ROU”) asset and lease liability, but are reflected as variable lease expenses for those classes of underlying assets for which we have elected the practical expedient to not separate lease and nonlease components.
Leases with an initial term of 12 months or less that do not include a purchase option that is reasonably certain to be exercised are not recorded on the balance sheet; we recognize lease expense for these leases on a straight-line basis over the lease term. We rent or sublease certain real estate to third parties, which are primarily operating leases.
Variable lease payments
A majority of our lease agreements include fixed rental payments. Certain of our lease agreements include fixed rental payments that are adjusted periodically for changes in the Consumer Price Index (“CPI”). Payments based on a change in an index or a rate are not considered in the determination of lease payments for purposes of measuring the related lease liability. While lease liabilities are not remeasured as a result of changes to the CPI, changes to the CPI are treated as variable lease payments and recognized in the period in which the obligation for those payments are incurred.
Options to extend or terminate leases
Most of our real estate leases include one or more options to renew, with renewal terms that can extend the lease term from one to five years or more. The exercise of lease renewal options is at our sole discretion. If it is reasonably certain that we will exercise such options, the periods covered by such options are included in the lease term and are recognized as part of our ROU assets and lease liabilities. Certain leases also include options to purchase the leased property or asset. The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise.
Discount rate
For our incremental borrowing rate, we generally use a portfolio approach to determine the discount rate for leases with similar characteristics. We determine discount rates based on current market prices of instruments similar to our unsecured borrowings with maturities that align with the relevant lease term, and such rates are then adjusted for our credit spread and the effects of full collateralization.
The following tables present information about our ROU assets, lease liabilities, total lease costs, cash flows arising from lease transactions, and other supplemental information for the years ended December 31, 2024 and 2023:
LeasesClassification20242023
Assets
Operating
Operating lease assets
$391.1 $392.1 
Finance
Property and equipment, net and Other assets
325.1 351.1 
Total right-of-use assets$716.2 $743.2 
Liabilities
Current
Operating
Other current liabilities
$48.1 $41.2 
Finance
Current maturities of long-term debt and Vehicle floorplan payable - trade
94.1 46.9 
Noncurrent
Operating
Noncurrent operating lease liabilities
356.9 363.2 
Finance
Long-term debt, net of current maturities
281.3 349.6 
Total lease liabilities$780.4 $800.9 
Lease Term and Discount Rate20242023
Weighted average remaining lease term
Operating11 years12 years
Finance12 years13 years
Weighted-average discount rate
Operating5.79 %5.71 %
Finance4.40 %4.43 %
Lease costClassification20242023
Operating lease costSelling, general, and administrative expenses$71.1 $62.3 
Finance lease cost:
Amortization of ROU assetsDepreciation and amortization23.6 24.6 
Interest on lease liabilities
Other interest expense and Floorplan interest expense
17.0 17.8 
Short-term lease cost (1)
Selling, general, and administrative expenses13.0 11.3 
Variable lease costSelling, general, and administrative expenses13.8 12.0 
Sublease incomeSelling, general, and administrative expenses(4.6)(3.6)
Net lease cost$133.9 $124.4 
(1) Includes leases with a term of one month or less.
Other Information20242023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases$68.0 $61.4 
Operating cash flows from finance leases (1)
$62.4 $63.7 
Financing cash flows from finance leases$13.0 $12.3 
Supplemental noncash information on adjustments to right-of-use assets, including right-of-use assets obtained in exchange for new:
Operating lease liabilities$45.9 $111.7 
Finance lease liabilities$38.0 $54.7 
(1) Includes the interest component of payments made on finance leases as well as principal payments on vehicle floorplan payables with trade lenders for certain service loaner vehicle leases.
Maturity of Lease LiabilitiesOperating LeasesFinance Leases
Year ending December 31,
2025$65.3 $106.3 
202661.4 24.3 
202753.3 25.5 
202849.6 25.3 
202948.2 24.9 
Thereafter293.5 259.2 
Total lease payments571.3 465.5 
Less: interest(166.3)(90.1)
Present value of lease liabilities$405.0 $375.4 
Leases LEASES
General description
The significant majority of leases that we enter into are for real estate. We lease numerous facilities relating to our operations, including primarily for automobile showrooms, display lots, service facilities, collision repair centers, supply facilities, automobile storage lots, parking lots, offices, and our corporate headquarters. Leases for real property generally have terms ranging from 1 to 25 years. We also lease various types of equipment, including security cameras, diagnostic equipment, copiers, key-cutting machines, and postage machines, among others. Equipment leases generally have terms
ranging from 1 to 5 years. In addition, we lease certain vehicles from vehicle manufacturers to provide our service customers with the use of a vehicle while their vehicles are being serviced at our dealerships. These service loaner vehicle leases generally have terms ranging from 6 to 18 months, and we typically purchase the service loaner vehicles at the end of the lease.
Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. We do not have any significant leases that have not yet commenced but that create significant rights and obligations for us. We have elected the practical expedient under ASC Topic 842 to not separate lease and nonlease components for the following classes of underlying assets: real estate, office equipment, service loaner vehicles, and marketing-related assets (e.g., billboards).
Our real estate and equipment leases often require that we pay maintenance in addition to rent. Additionally, our real estate leases generally require payment of real estate taxes and insurance. Maintenance, real estate taxes, and insurance payments are generally variable and based on actual costs incurred by the lessor. Therefore, these amounts are not included in the consideration of the contract when determining the right-of-use (“ROU”) asset and lease liability, but are reflected as variable lease expenses for those classes of underlying assets for which we have elected the practical expedient to not separate lease and nonlease components.
Leases with an initial term of 12 months or less that do not include a purchase option that is reasonably certain to be exercised are not recorded on the balance sheet; we recognize lease expense for these leases on a straight-line basis over the lease term. We rent or sublease certain real estate to third parties, which are primarily operating leases.
Variable lease payments
A majority of our lease agreements include fixed rental payments. Certain of our lease agreements include fixed rental payments that are adjusted periodically for changes in the Consumer Price Index (“CPI”). Payments based on a change in an index or a rate are not considered in the determination of lease payments for purposes of measuring the related lease liability. While lease liabilities are not remeasured as a result of changes to the CPI, changes to the CPI are treated as variable lease payments and recognized in the period in which the obligation for those payments are incurred.
Options to extend or terminate leases
Most of our real estate leases include one or more options to renew, with renewal terms that can extend the lease term from one to five years or more. The exercise of lease renewal options is at our sole discretion. If it is reasonably certain that we will exercise such options, the periods covered by such options are included in the lease term and are recognized as part of our ROU assets and lease liabilities. Certain leases also include options to purchase the leased property or asset. The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise.
Discount rate
For our incremental borrowing rate, we generally use a portfolio approach to determine the discount rate for leases with similar characteristics. We determine discount rates based on current market prices of instruments similar to our unsecured borrowings with maturities that align with the relevant lease term, and such rates are then adjusted for our credit spread and the effects of full collateralization.
The following tables present information about our ROU assets, lease liabilities, total lease costs, cash flows arising from lease transactions, and other supplemental information for the years ended December 31, 2024 and 2023:
LeasesClassification20242023
Assets
Operating
Operating lease assets
$391.1 $392.1 
Finance
Property and equipment, net and Other assets
325.1 351.1 
Total right-of-use assets$716.2 $743.2 
Liabilities
Current
Operating
Other current liabilities
$48.1 $41.2 
Finance
Current maturities of long-term debt and Vehicle floorplan payable - trade
94.1 46.9 
Noncurrent
Operating
Noncurrent operating lease liabilities
356.9 363.2 
Finance
Long-term debt, net of current maturities
281.3 349.6 
Total lease liabilities$780.4 $800.9 
Lease Term and Discount Rate20242023
Weighted average remaining lease term
Operating11 years12 years
Finance12 years13 years
Weighted-average discount rate
Operating5.79 %5.71 %
Finance4.40 %4.43 %
Lease costClassification20242023
Operating lease costSelling, general, and administrative expenses$71.1 $62.3 
Finance lease cost:
Amortization of ROU assetsDepreciation and amortization23.6 24.6 
Interest on lease liabilities
Other interest expense and Floorplan interest expense
17.0 17.8 
Short-term lease cost (1)
Selling, general, and administrative expenses13.0 11.3 
Variable lease costSelling, general, and administrative expenses13.8 12.0 
Sublease incomeSelling, general, and administrative expenses(4.6)(3.6)
Net lease cost$133.9 $124.4 
(1) Includes leases with a term of one month or less.
Other Information20242023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases$68.0 $61.4 
Operating cash flows from finance leases (1)
$62.4 $63.7 
Financing cash flows from finance leases$13.0 $12.3 
Supplemental noncash information on adjustments to right-of-use assets, including right-of-use assets obtained in exchange for new:
Operating lease liabilities$45.9 $111.7 
Finance lease liabilities$38.0 $54.7 
(1) Includes the interest component of payments made on finance leases as well as principal payments on vehicle floorplan payables with trade lenders for certain service loaner vehicle leases.
Maturity of Lease LiabilitiesOperating LeasesFinance Leases
Year ending December 31,
2025$65.3 $106.3 
202661.4 24.3 
202753.3 25.5 
202849.6 25.3 
202948.2 24.9 
Thereafter293.5 259.2 
Total lease payments571.3 465.5 
Less: interest(166.3)(90.1)
Present value of lease liabilities$405.0 $375.4 
v3.25.0.1
Debt
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Debt DEBT
Non-Vehicle Long-Term Debt
Non-vehicle long-term debt at December 31 consisted of the following:
Debt DescriptionMaturity DateInterest Payable20242023
3.5% Senior Notes
November 15, 2024May 15 and November 15$— $450.0 
4.5% Senior Notes
October 1, 2025April 1 and October 1450.0 450.0 
3.8% Senior Notes
November 15, 2027May 15 and November 15300.0 300.0 
1.95% Senior Notes
August 1, 2028February 1 and August 1400.0 400.0 
4.75% Senior Notes
June 1, 2030June 1 and December 1 500.0 500.0 
2.4% Senior Notes
August 1, 2031February 1 and August 1450.0 450.0 
3.85% Senior Notes
March 1, 2032March 1 and September 1700.0 700.0 
Revolving credit facilityJuly 18, 2028Monthly— — 
Finance leases and other debtVarious dates through 2041350.0 362.2 
3,150.0 3,612.2 
Less: unamortized debt discounts and debt issuance costs(17.9)(21.9)
Less: current maturities(518.5)(462.4)
Long-term debt, net of current maturities$2,613.6 $3,127.9 

At December 31, 2024, aggregate maturities of non-vehicle long-term debt were as follows:
Year Ending December 31:
2025$519.0 
202614.1 
2027315.9 
2028416.4 
202916.8 
Thereafter1,867.8 
$3,150.0 
Senior Unsecured Notes and Credit Agreement
In November 2024, we repaid the outstanding $450.0 million of 3.5% Senior Notes due 2024. Our 4.5% Senior Notes due 2025 will mature on October 1, 2025, and were, therefore, reclassified to current during the fourth quarter of 2024.
The interest rates payable on our 4.5% Senior Notes, 3.8% Senior Notes, and 4.75% Senior Notes are subject to adjustment upon the occurrence of certain credit rating events as provided in the indentures for these senior unsecured notes.
Under our amended and restated credit agreement, we have a $1.9 billion revolving credit facility that matures on July 18, 2028. The credit agreement also contains an accordion feature that allows us, subject to credit availability and certain other conditions, to increase the amount of the revolving credit facility, together with any added term loans, by up to $500.0 million in the aggregate. As of December 31, 2024, we had no borrowings outstanding under our revolving credit facility. We have a $200.0 million letter of credit sublimit as part of our revolving credit facility. The amount available to be borrowed under the revolving credit facility is reduced on a dollar-for-dollar basis by the cumulative amount of any
outstanding letters of credit, which was $0.8 million at December 31, 2024, leaving a borrowing capacity under our credit agreement of $1.9 billion at December 31, 2024.
Our revolving credit facility under the amended credit agreement provides for a commitment fee on undrawn amounts ranging from 0.125% to 0.20% and interest on borrowings at SOFR plus a credit spread adjustment of 0.10% or the base rate, in each case plus an applicable margin. The applicable margin ranges from 1.125% to 1.50% for SOFR borrowings and 0.125% to 0.50% for base rate borrowings. The interest rate charged for our revolving credit facility is affected by our leverage ratio.
Within the meaning of Regulation S-X, Rule 3-10, AutoNation, Inc. (the parent company) has no independent assets or operations. If guarantees of our subsidiaries were to be issued under our existing registration statement, we expect that such guarantees would be full and unconditional and joint and several, and any subsidiaries other than the guarantor subsidiaries would be minor.
Other Long-Term Debt
At December 31, 2024, we had finance leases and other debt obligations of $350.0 million, which are due at various dates through 2041. See Note 10 of the Notes to Consolidated Financial Statements for more information related to finance lease obligations.
Commercial Paper
We have a commercial paper program pursuant to which we may issue short-term, unsecured commercial paper notes on a private placement basis up to a maximum aggregate amount outstanding at any time of $1.9 billion. The interest rate for the commercial paper notes varies based on duration and market conditions. The maturities of the commercial paper notes may vary, but may not exceed 397 days from the date of issuance. Proceeds from the issuance of commercial paper notes are used to repay borrowings under the revolving credit facility, to finance acquisitions, and for strategic initiatives, working capital, capital expenditures, share repurchases, and/or other general corporate purposes. We use the revolving credit facility under our credit agreement as a liquidity backstop for borrowings under the commercial paper program. A downgrade in our credit ratings could negatively impact our ability to issue, or the interest rates for, commercial paper notes.
At December 31, 2024, we had $630.0 million of commercial paper notes outstanding with a weighted-average annual interest rate of 4.9% and a weighted-average remaining term of 9 days. At December 31, 2023, we had $440.0 million of commercial paper notes outstanding with a weighted-average annual interest rate of 5.9% and a weighted-average remaining term of 6 days.
Non-Recourse Debt
Non-recourse debt relates to auto loans receivable of our captive auto finance company funded through a combination of warehouse facilities, asset-backed term funding transactions, and free cash flows from operations.
Non-recourse debt outstanding at December 31, 2024 and 2023, consisted of the following:
20242023
Warehouse facilities$801.5 $209.4 
Term securitization debt of consolidated VIEs24.7 50.5 
826.2 259.9 
Less: unamortized debt discounts and debt issuance costs(0.2)(1.5)
Less: current maturities (28.3)(8.8)
Non-recourse debt, net of current maturities $797.7 $249.6 
The timing of principal payments on the non-recourse debt is based on the timing of principal collections and defaults on the related auto loans receivable. The current portion of non-recourse debt represents the portion of the payments received from the auto loans receivable that are due to be distributed as principal payments on the non-recourse debt in the following period.
We recognize transfers of auto loans receivable into the warehouse facilities and term securitizations (together, “non-recourse debt”) as secured borrowings, which result in recording the auto loans receivable and the related non-recourse debt on our Consolidated Balance Sheets. The non-recourse debt is structured to legally isolate the auto loans receivable, which can only be used as collateral to settle obligations of the related non-recourse debt. The term securitization trusts and investors and the creditors of the warehouse facilities have no recourse to our assets for payment of the debt beyond the related auto loans receivable, the amounts on deposit in reserve accounts, and the restricted cash from collections on auto loans receivable.
Warehouse Facilities
We have three warehouse facility agreements with certain banking institutions through wholly-owned, bankruptcy-remote, special purpose entities, primarily to finance the purchase and origination of auto loans receivable. We fund auto loans receivable through these warehouse facilities, which are secured by the eligible auto loans receivable pledged as collateral.
We generally enter into warehouse facility agreements for one-year terms and typically renew the agreements annually. At December 31, 2024, our warehouse facilities utilized SOFR-based interest rates, as well as interest rates based on a lender’s asset-backed commercial paper conduit. Our warehouse facilities had a weighted-average interest rate of 5.4% at December 31, 2024, and 7.3% at December 31, 2023. The aggregate capacities under our warehouse facilities as of December 31, 2024, were as follows:
December 31,
2024
Warehouse facilities:
August 31, 2025 expiration
$300.0 
October 1, 2025 expiration
200.0 
October 17, 2025 expiration
450.0 
Aggregate capacity $950.0 
Unused capacity$148.5 
The remaining borrowing capacity of $148.5 million was limited to $1.1 million based on the eligible auto loans receivable that have been pledged as collateral.
Term Securitizations
We have term securitizations that were put in place to provide long-term funding for certain auto loans receivable initially funded through the warehouse facilities. In these transactions, a pool of auto loans receivable is sold to a bankruptcy-remote, special purpose entity that, in turn, transfers the receivables to a special purpose securitization trust (“term securitization trust”). The term securitization trust issues asset-backed securities, secured or otherwise supported by the transferred receivables, and the proceeds from the sale of the asset-backed securities are used to finance the securitized receivables.
We are required to evaluate the term securitization trusts for consolidation. We retain the servicing rights for the auto loans receivable that were funded through the term securitizations. In our capacity as servicer of the underlying auto loans receivable, we have the power to direct the activities of the trusts that most significantly impact the economic performance of the trusts. In addition, we have the obligation to absorb losses (subject to limitations) and the rights to receive any returns of the trusts, which could be significant. Accordingly, we are the primary beneficiary of the trusts and are required to consolidate them.
The term securitization debt of consolidated VIEs consists of various notes with interest rates ranging from 2.11% to 4.45% and maturity dates ranging from April 2027 to May 2028. Term securitization debt is expected to become due and be paid prior to the final legal maturities based on amortization of the auto loans receivable pledged as collateral. The term securitization agreements require certain funds to be held in restricted cash accounts to provide additional collateral for the borrowings or to be applied to make payments on the securitization debt. Restricted cash of consolidated VIEs under the various term securitization agreements totaled $3.4 million as of December 31, 2024, and $4.3 million as of December 31, 2023, and is included in Other Current Assets and Other Assets in our Consolidated Balance Sheets. Auto loans receivable pledged to the term securitization debt of consolidated VIEs totaled $24.5 million as of December 31, 2024, and $50.8 million as of December 31, 2023.
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Chargeback Liability
 12 Months Ended
Dec. 31, 2024
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]  
Chargeback Liability CHARGEBACK LIABILITY
We may be charged back for commissions related to financing, vehicle service, or protection products in the event of early termination, default, or prepayment of the contracts by customers (“chargebacks”). However, our exposure to loss generally is limited to the commissions that we receive. An estimated chargeback liability is recorded in the period in which the related finance and insurance revenue is recognized. The following is a rollforward of our estimated chargeback liability for each of the three years presented in our Consolidated Financial Statements:
202420232022
Balance - January 1$200.4 $197.0 $171.0 
Add: Provisions194.8 168.0 192.3 
Deduct: Chargebacks(185.9)(164.6)(166.3)
Balance - December 31$209.3 $200.4 $197.0 
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Self-Insurance
 12 Months Ended
Dec. 31, 2024
Insurance [Abstract]  
Self-Insurance SELF-INSURANCE
Under our self-insurance programs, we retain various levels of aggregate loss limits, per claim deductibles, and claims-handling expenses as part of our various insurance programs, including property and casualty, employee medical benefits, automobile, and workers’ compensation.
At December 31, 2024 and 2023, current and long-term self-insurance liabilities were included in Other Current Liabilities and Other Liabilities, respectively, in the Consolidated Balance Sheets as follows:
20242023
Self-insurance - current portion$52.2 $42.3 
Self-insurance - long-term portion68.0 60.0 
Total self-insurance liabilities
$120.2 $102.3 
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Income Taxes
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Income Taxes INCOME TAXES
The components of the income tax provision from continuing operations for the years ended December 31 are as follows:
202420232022
Current:
Federal$185.8 $245.6 $368.7 
State45.1 64.9 87.4 
Federal and state deferred(3.8)19.0 0.8 
Change in valuation allowance, net1.3 1.0 0.2 
Adjustments and settlements(3.9)(0.5)(1.3)
Income tax provision$224.5 $330.0 $455.8 

A reconciliation of the income tax provision calculated using the statutory federal income tax rate to our income tax provision from continuing operations for the years ended December 31 is as follows:
2024%2023%2022%
Income tax provision at statutory rate
$192.5 21.0 $283.5 21.0 $385.0 21.0 
Other non-deductible expenses, net4.5 0.5 0.5 — 7.9 0.4 
State income taxes, net of federal benefit
35.5 3.9 53.4 4.0 72.8 4.0 
232.5 25.4 337.4 25.0 465.7 25.4 
Change in valuation allowance, net1.3 0.1 1.0 0.1 0.2 — 
Adjustments and settlements(3.9)(0.4)(0.5)— (1.3)(0.1)
Federal and state tax credits(2.9)(0.3)(2.8)(0.2)(4.5)(0.2)
Other, net(2.5)(0.3)(5.1)(0.5)(4.3)(0.2)
Income tax provision$224.5 24.5 $330.0 24.4 $455.8 24.9 
Deferred income tax asset and liability components at December 31 are as follows:
20242023
Deferred income tax assets:
Inventory$32.4 $31.9 
Receivable allowances0.7 0.4 
Warranty, chargeback, and self-insurance liabilities78.6 72.6 
Other accrued liabilities32.7 30.7 
Deferred compensation33.9 31.7 
Stock-based compensation8.9 9.0 
Lease liabilities 159.6 162.9 
Loss carryforwards— federal and state
19.1 22.7 
Software development costs
25.1 15.4 
Other, net4.2 5.5 
Total deferred income tax assets395.2 382.8 
Valuation allowance(8.3)(7.1)
Deferred income tax assets, net of valuation allowance386.9 375.7 
Deferred income tax liabilities:
Long-lived assets (intangible assets and property)(312.9)(298.7)
Investments - unrealized appreciation(1.1)(2.8)
Right-of-use assets(145.0)(150.2)
Other, net(11.0)(9.0)
Total deferred income tax liabilities(470.0)(460.7)
Net deferred income tax liabilities$(83.1)$(85.0)
Our net deferred tax liability of $83.1 million as of December 31, 2024, and $85.0 million as of December 31, 2023, is classified as Deferred Income Taxes in the accompanying Consolidated Balance Sheets.
Income taxes payable included in Other Current Liabilities totaled $69.0 million at December 31, 2024, and income taxes receivable included in Receivables, net totaled $11.1 million at December 31, 2023.
At December 31, 2024, we had a $44.5 million gross domestic federal net operating loss carryforward, $176.5 million of gross domestic state net operating loss carryforwards and capital loss carryforwards, and $1.0 million of state tax credits. The federal net operating loss carryforward and $37.4 million of state net operating loss carryforwards have no expiration. The state tax credits and $139.0 million of state net operating loss carryforwards expire from 2025 through 2044. The federal and state loss carryforwards and state tax credits result in a deferred tax asset of $19.1 million.
In assessing the realizability of deferred tax assets, we consider whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. We provide valuation allowances to offset portions of deferred tax assets due to uncertainty surrounding the future realization of such deferred tax assets. At December 31, 2024, we had $8.3 million of valuation allowance related to state net operating loss carryforwards. We adjust the valuation allowance in the period management determines it is more likely than not that deferred tax assets will or will not be realized.
We file income tax returns in the U.S. federal jurisdiction and various states. As a matter of course, various taxing authorities, including the IRS, regularly audit us. These audits may culminate in proposed assessments which may ultimately result in our owing additional taxes. With few exceptions, we are no longer subject to U.S. federal, state, and local income tax examinations by tax authorities for years before 2020. Currently, no tax years are under examination by
the IRS and tax years from 2021 to 2022 are under examination by U.S. state jurisdictions. We believe that our tax positions comply with applicable tax law and that we have adequately provided for these matters.
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
202420232022
Balance at January 1$5.1 $5.5 $6.9 
Additions based on tax positions related to the current year— — — 
Additions for tax positions of prior years2.5 1.2 0.6 
Reductions for tax positions of prior years— — — 
Reductions for expirations of statute of limitations(1.7)(1.6)(1.4)
Settlements— — (0.6)
Balance at December 31$5.9 $5.1 $5.5 
We had accumulated interest and penalties associated with these unrecognized tax benefits of $7.6 million at December 31, 2024, $10.7 million at December 31, 2023, and $9.6 million at December 31, 2022. We additionally had a deferred tax asset of $3.0 million at December 31, 2024, $3.6 million at December 31, 2023, and $3.4 million at December 31, 2022, related to these balances. The net of the unrecognized tax benefits, associated interest, penalties, and deferred tax asset was $10.5 million at December 31, 2024, $12.2 million at December 31, 2023, and $11.7 million at December 31, 2022, which if resolved favorably (in whole or in part) would reduce our effective tax rate. The unrecognized tax benefits, associated interest, penalties, and deferred tax asset are included as components of Other Liabilities and Deferred Income Taxes in the Consolidated Balance Sheets.
It is our policy to account for interest and penalties associated with income tax obligations as a component of income tax expense. We recognized a benefit of $2.3 million during 2024, an expense of $0.8 million during 2023, and an expense of $0.4 million during 2022 related to interest and penalties (each net of tax effect) as part of the provision for income taxes in the Consolidated Statements of Income.
We do not expect any increase or decrease to our unrecognized tax benefits to have a material impact on our consolidated financial statements during the twelve months beginning January 1, 2025.
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Shareholders' Equity
 12 Months Ended
Dec. 31, 2024
Stockholders' Equity Note [Abstract]  
Shareholders' Equity SHAREHOLDERS’ EQUITY
A summary of shares repurchased under our stock repurchase program authorized by our Board of Directors follows:
202420232022
Shares repurchased2.9 6.4 15.6 
Aggregate purchase price(1)
$460.0 $863.6 $1,710.2 
Average purchase price per share$160.86 $134.68 $109.86 
(1) Excludes the excise tax accrual imposed under the Inflation Reduction Act of $4.2 million for 2024 and $8.1 million for 2023.
As of December 31, 2024, $860.8 million remained available under our stock repurchase limit most recently authorized by our Board of Directors.
Our Board of Directors authorized the retirement of 23.0 million shares of our treasury stock in November 2022, which assumed the status of authorized but unissued shares. Upon the retirement of treasury stock, it is our policy to charge the excess of the cost of the treasury stock over its par value entirely to additional paid-in capital. Any amounts exceeding additional paid-in capital are charged to retained earnings. These retirements had the effect of reducing treasury stock and issued common stock, which includes treasury stock. Our common stock, additional paid-in capital, retained earnings, and
treasury stock accounts were adjusted accordingly. There was no impact to shareholders’ equity or outstanding common stock.
We have 5.0 million authorized shares of preferred stock, par value $0.01 per share, none of which are issued or outstanding. The Board of Directors has the authority to issue the preferred stock in one or more series and to establish the rights, preferences, and dividends of such preferred stock.
A summary of shares of common stock issued in connection with the exercise of stock options follows:
202420232022
Shares issued (in actual number of shares)
8,68537,99671,030
Proceeds from the exercise of stock options$0.5 $1.9 $3.4 
Average exercise price per share$58.08 $50.34 $47.94 
The following table presents a summary of shares of common stock issued in connection with the settlement of RSUs, as well as shares surrendered to AutoNation to satisfy tax withholding obligations in connection with the settlement of RSUs:
(In actual number of shares)
202420232022
Shares issued0.4 0.6 0.8 
Shares surrendered to AutoNation to satisfy tax withholding obligations
0.1 0.2 0.3 
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Stock-Based Compensation
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation STOCK-BASED COMPENSATION
The AutoNation, Inc. 2017 Employee Equity and Incentive Plan (the “2017 Plan”) provides for the grant of RSUs, restricted stock, stock options, stock appreciation rights, and other stock-based and cash-based awards to employees. A maximum of 5.5 million shares may be issued under the 2017 Plan.
The AutoNation, Inc. 2014 Non-Employee Director Equity Plan (the “2014 Director Plan”) provided for the grant of stock options, restricted stock, RSUs, stock appreciation rights, and other stock-based awards to our non-employee directors. On February 21, 2024, our Board of Directors, upon the recommendation of its Compensation Committee, approved the AutoNation, Inc. 2024 Non-Employee Director Equity Plan (the “2024 Director Plan”), which was approved by our stockholders at our Annual meeting of Stockholders held on April 24, 2024. The 2024 Director Plan replaced the 2014 Director Plan, which terminated on May 6, 2024. As of December 31, 2024, the maximum number of shares authorized for issuance under the 2024 Director Plan was 400,000.
Restricted Stock Units
On January 2, 2024, each of our non-employee directors received a grant of 1,659 RSUs under the 2014 Director Plan. RSUs granted to our non-employee directors are fully vested on the grant date and are settled in shares of the Company’s common stock on the first trading day of February in the third year following the grant date, unless the non-employee director elects to defer delivery in accordance with the terms of the award and the 2014 Director Plan. Settlement of the RSUs will be accelerated in certain circumstances as provided in the terms of the award and the 2014 Director Plan, including in the event the non-employee director ceases to serve as a non-employee director of the Company. Compensation cost is recognized on the grant date and is based on the closing price of our common stock on the grant date.
In 2024, our Board’s Compensation Committee approved the grant to employees of 0.3 million RSUs including time-based RSUs, performance-based RSUs, and market-based RSUs. We account for forfeitures of stock-based awards as they occur.
Time-based RSUs vest in equal installments generally over three or four years. The fair value of each time-based RSU is based on the closing price of our common stock on the date of grant. Compensation cost for time-based RSUs is
recognized on a straight-line basis over the shorter of the stated vesting period or the period until employees become retirement-eligible.
Performance-based RSUs cliff vest after three years subject to the achievement of certain performance goals over a three-year period. Performance-based RSUs granted prior to 2023 include a measure of earnings, a measure of return on invested capital, and a measure of our performance relative to certain customer satisfaction indices. Performance-based RSUs granted in 2023 and 2024 include a measure of return on invested capital. The fair value of each performance-based RSU is based on the closing price of our common stock on the date of grant. Compensation cost for performance-based RSUs is based on the expected achievement level of the performance goals, which is evaluated over the performance period, and recognized on a straight-line basis over the shorter of the stated vesting period or the period until employees become retirement-eligible.
Beginning in 2023, we granted market-based RSUs that cliff vest after three years subject to a measure of total shareholder return over a three-year period relative to the shareholder return for a predefined group of companies. The fair value of each market-based RSU is based on a Monte Carlo simulation model on the date of grant using the following assumptions:
20242023
Risk-free interest rate
4.31 %4.60 %
Expected volatility
40.28 %42.89 %
Dividend yield
— — 
Compensation cost for market-based RSUs is recognized on a straight-line basis over the shorter of the stated vesting period or the period until employees become retirement-eligible, regardless of whether the market condition is satisfied.
The following table summarizes information about vested and nonvested RSUs for 2024:
 RSUs
 SharesWeighted-Average
Grant Date
Fair Value
Nonvested at January 11.0 $108.26 
Granted 0.3 $171.84 
Vested(0.3)$85.56 
Forfeited(0.1)$138.69 
Nonvested at December 310.9 $140.18 
The weighted average grant-date fair value of RSUs and total fair value of RSUs vested are summarized in the following table:
202420232022
Weighted average grant-date fair value of RSUs granted
$171.84 $139.11 $112.66 
Total fair value of RSUs vested (in millions)
$54.8 $76.0 $85.7 
The following table summarizes the total stock-based compensation expense related to RSUs recognized in Selling, General, and Administrative Expenses in the Consolidated Statements of Income and the total recognized tax benefit related thereto:
202420232022
Stock-based compensation expense
$36.5 $39.7 $31.5 
Tax benefit related to stock-based compensation expense$4.1 $4.5 $4.0 
Tax benefits related to vesting of RSUs and stock options exercised were $6.9 million in 2024, $9.0 million in 2023, and $9.7 million in 2022.
As of December 31, 2024, there was $34.3 million of total unrecognized compensation cost related to non-vested RSUs, which is expected to be recognized over a weighted average period of 1.51 years.
Stock Options
Prior to 2017, we granted non-qualified stock options with a term of 10 years from the date of grant that vested in equal installments over four years. All stock options were fully vested as of December 31, 2020. The intrinsic value of stock options exercised was $1.0 million during 2024, $3.5 million during 2023, and $5.0 million during 2022.
As of December 31, 2024, we had 12,309 stock options outstanding with a weighted average exercise price of $55.27 and weighted average contractual term of 0.87 years.
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Acquisitions and Divestitures
 12 Months Ended
Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Acquisitions and Divestitures ACQUISITIONS AND DIVESTITURES
During 2024, we did not purchase any stores. During 2023, we acquired RepairSmith, a mobile solution for automotive repair and maintenance, which we renamed AutoNation Mobile Service, and we also purchased one Domestic store, five Import stores, and one Premium Luxury store. During 2022, we acquired CIG Financial, an auto finance company, which we renamed AutoNation Finance, and we also purchased three Domestic stores and one Import store. Acquisitions are included in the Consolidated Financial Statements from the date of acquisition.
The acquisitions completed in 2023 and 2022 were not material to our financial condition or results of operations. Additionally, on a pro forma basis as if the results of these acquisitions had been included in our consolidated results for the respective full years ended December 31, 2023 and 2022, revenue and net income would not have been materially different from our reported revenue and net income for these periods.
During 2024, we divested seven Domestic stores and one Import store for aggregate proceeds of $156.0 million and recognized net gains of $53.9 million related to these divestitures. During 2023, we divested one Domestic store for aggregate proceeds of $23.2 million and recognized a net gain of $6.1 million related to this divestiture. During 2022, we divested three Premium Luxury stores for aggregate proceeds of $55.2 million and recognized net gains of $16.0 million related to these divestitures. These gains are included in Other Income, Net (within Operating Income) in our Consolidated Statements of Income. The financial condition and results of operations of these businesses were not material to our consolidated financial statements.
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Financial Instruments and Fair Value Measurements
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Financial Instruments and Fair Value Measurements FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS
The fair value of a financial instrument represents the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced sale or liquidation. Fair value estimates are made at a specific point in time, based on relevant market information about the financial instrument. These estimates are subjective in nature and involve uncertainties and matters of judgment, and therefore cannot be determined with precision.
Accounting standards define fair value as the price that would be received from selling an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. Accounting standards establish a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value and also establishes the following three levels of inputs that may be used to measure fair value:
Level 1Quoted prices (unadjusted) in active markets for identical assets or liabilities that a reporting entity can access at the measurement date
Level 2Inputs other than quoted prices in active markets for identical assets and liabilities that are observable either directly or indirectly
Level 3Unobservable inputs
The following methods and assumptions were used by us in estimating fair value disclosures for financial instruments:
 
•Cash and cash equivalents, receivables, other current assets, vehicle floorplan payable, accounts payable, other current liabilities, commercial paper, warehouse credit facilities, and variable rate debt: The amounts reported in the accompanying Consolidated Balance Sheets approximate fair value due to their short-term nature or the existence of variable interest rates that approximate prevailing market rates.
•Auto loans receivable, net: Auto loans receivable are presented net of an allowance for expected credit losses, which we believe approximates fair value.
•Investments in Equity Securities: Our equity investments with readily determinable fair values are measured at fair value using Level 1 inputs. The fair value of our equity investments with readily determinable fair values totaled $20.0 million at December 31, 2024, and $22.8 million at December 31, 2023.
Our equity investments that do not have a readily determinable fair value are measured using the measurement alternative as permitted by accounting standards and were recorded at cost, to be subsequently adjusted for observable price changes. During 2024, we identified an observable transaction for the issuance of similar equity securities of the same issuer of one of our equity investments and recorded a downward adjustment to this equity investment of $8.4 million based on the observable price change. The carrying amount of our equity investments without a readily determinable fair value was $49.8 million at December 31, 2024, and $56.7 million at December 31, 2023. Equity investments that do not have a readily determinable fair value reflect cumulative downward adjustments of $8.4 million and cumulative upward adjustments of $3.4 million based on observable price changes. We did not record any upward adjustments during the year ended December 31, 2024.
Investments in equity securities are reported in Other Current Assets and Other Assets in the accompanying Consolidated Balance Sheets. Realized and unrealized gains and losses are reported in Other Income (Loss), Net (non-operating) in the Consolidated Statements of Income and in the “Corporate and other” category of our segment information.
The following is the portion of unrealized gains recognized during the years ended December 31, 2024 and 2023, related to equity securities still held at December 31:
20242023
Net gains (losses) recognized during the period on equity securities
$(7.0)$5.2 
Less: Net gains recognized during the period on equity securities sold during the period— — 
Unrealized gains (losses) recognized during the reporting period on equity securities still held at the reporting date
$(7.0)$5.2 
•Fixed rate long-term debt: Our fixed rate long-term debt consists primarily of amounts outstanding under our senior unsecured notes. We estimate the fair value of our senior unsecured notes using quoted prices for the identical liability (Level 1). A summary of the aggregate carrying values and fair values of our senior unsecured notes at December 31 is as follows:
20242023
Carrying value$2,782.1 $3,228.1 
Fair value$2,578.6 $2,979.3 
Nonfinancial assets such as goodwill, other intangible assets, and long-lived assets held and used, are measured at fair value when there is an indicator of impairment and recorded at fair value only when impairment is recognized or for a business combination. The fair values less costs to sell of long-lived assets or disposal groups held for sale are assessed each reporting period they remain classified as held for sale. Subsequent changes in the held for sale long-lived asset’s or disposal group’s fair value less cost to sell (increase or decrease) are reported as an adjustment to its carrying amount, except that the adjusted carrying amount cannot exceed the carrying amount of the long-lived asset or disposal group at the time it was initially classified as held for sale.
The following table presents assets measured and recorded at fair value on a nonrecurring basis during the years ended December 31, 2024 and 2023:
20242023
DescriptionFair Value Measurements Using Significant Unobservable Inputs (Level 3)Gain/(Loss)Fair Value Measurements Using Significant Unobservable Inputs (Level 3)Gain/(Loss)
Equity investments
$48.3 $(8.4)$— $— 
Franchise rights and other intangible assets
$— $(12.5)$— $(2.3)
Long-lived assets held and used$— $(9.3)$— $(2.9)
Goodwill
Goodwill for our reporting units and our indefinite-lived intangible assets are tested for impairment annually as of April 30 or more frequently when events or changes in circumstances indicate that impairment may exist. Under accounting standards, we chose to perform quantitative tests for our annual goodwill impairment testing as of April 30, 2024, and no impairment charges resulted from these quantitative tests.
The quantitative goodwill impairment test requires a determination of whether the fair value of a reporting unit is less than its carrying value. We estimate the fair value of our reporting units using an “income” valuation approach, which discounts projected free cash flows of the reporting unit at a computed weighted average cost of capital as the discount rate. The income valuation approach requires the use of significant estimates and assumptions, which include the revenue growth rates and future operating margins used to calculate projected future cash flows, weighted average costs of capital, and future economic and market conditions. In connection with this process, we also reconcile the estimated aggregate fair values of our reporting units to our market capitalization, including consideration of a control premium that represents the estimated amount an investor would pay for our equity securities to obtain a controlling interest. We believe that this reconciliation process is consistent with a market participant perspective. We base our cash flow forecasts on our knowledge of the automotive industry, our recent performance, our expectations of our future performance, and other assumptions we believe to be reasonable but that are unpredictable and inherently uncertain. Actual future results may differ from those estimates. We also make certain judgments and assumptions in allocating shared assets and liabilities to determine the carrying values for each of our reporting units.
We chose to make a qualitative evaluation about the likelihood of goodwill impairment as of April 30, 2023, and determined that it was not more likely than not that the fair values of our reporting units were less than their carrying amounts.
Other Intangible Assets
Our principal identifiable intangible assets are individual store rights under franchise agreements with vehicle manufacturers, which have indefinite lives and are tested for impairment annually as of April 30 or more frequently when events or changes in circumstances indicate that impairment may have occurred. We elected to perform quantitative franchise rights impairment tests for our annual impairment tests as of April 30, 2024 and 2023, and no impairment charges resulted from these quantitative tests.
The quantitative impairment test for franchise rights requires the comparison of the franchise rights’ estimated fair value to carrying value by store. Fair values of rights under franchise agreements are estimated using Level 3 inputs by discounting expected future cash flows of the store. The forecasted cash flows contain inherent uncertainties, including significant estimates and assumptions related to growth rates, margins, working capital requirements, capital expenditures, and cost of capital, for which we utilize certain market participant-based assumptions, using third-party industry projections, economic projections, and other marketplace data we believe to be reasonable. Actual future results may differ from those estimates.
During the fourth quarter of 2024, we concluded that a triggering event had occurred that indicated the fair values of franchise rights for one Domestic store and one Import store may have been less than their carrying values. Therefore, we performed quantitative franchise rights impairment tests for these stores during the fourth quarter of 2024. As a result of the quantitative tests, we determined the franchise rights carrying values for both stores exceeded their fair values, and we recorded non-cash franchise rights impairment charges of $12.5 million during the fourth quarter of 2024 to reduce the carrying value of the stores’ franchise agreements to their estimated fair values. The decline in the fair value of rights under these stores’ franchise agreements reflects the underperformance relative to expectations of these stores since our acquisition of them, as well as our expectations for the stores’ future prospects. These factors resulted in a reduction in forecasted cash flows and growth rates used to estimate fair value. The non-cash impairment charges are recorded as Franchise Rights Impairments in the accompanying Consolidated Statements of Income and in the “Corporate and other” category of our segment information.
Long-Lived Assets and Right-of-Use Assets
Fair value measurements for our long-lived assets and right-of-use assets are based on Level 3 inputs. Changes in fair value measurements are reviewed and assessed each quarter for properties classified as held for sale, or when an indicator of impairment exists for properties classified as held and used or for right-of-use assets. The valuation process is generally based on a combination of the market and replacement cost approaches. In certain cases, fair value measurements are based on pending agreements to sell the related assets.
In a market approach, we use transaction prices for comparable properties that have recently been sold. These transaction prices are adjusted for factors related to a specific property. We evaluate changes in local real estate markets, and/or recent market interest or negotiations related to a specific property. In a replacement cost approach, the cost to replace a specific long-lived asset is considered, which is adjusted for depreciation from physical deterioration, as well as functional and economic obsolescence, if present and measurable.
To validate the fair values determined under the valuation process noted above, we also obtain independent third-party appraisals for our properties and/or third-party brokers’ opinions of value, which are generally developed using the same valuation approaches described above, and we evaluate any recent negotiations or discussions with third-party real estate brokers related to a specific long-lived asset or market.
We recorded non-cash impairment charges related to long-lived assets held and used of $9.3 million in 2024 and $2.9 million in 2023. The non-cash impairment charges related to long-lived assets held and used are included in Other Income, Net in our Consolidated Statements of Income and are reported in the “Corporate and other” category of our segment information.
We had assets held for sale of $23.6 million as of December 31, 2024 and $21.3 million as of December 31, 2023, primarily related to inventory, franchise rights, goodwill, and property of disposal groups held for sale, as well as property held for sale. Assets held for sale are included in Other Current Assets in our Consolidated Balance Sheets.
Quantitative Information about Level 3 Fair Value Measurements
Description
Fair Value at December 31, 2024
Valuation TechniqueUnobservable InputRange (Average)
Franchise rights$— Discounted cash flowWeighted average cost of capital10.0 %
Discount rate
13.5% - 15.0% (14.3%)
Long-term revenue growth rate2.0 %
Long-term pretax loss margin
2.7% - 6.4% (4.6%)
Contributory asset charges
5.5% - 6.4% (6.0%)
v3.25.0.1
Commitments and Contingencies
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Commitments And Contingencies COMMITMENTS AND CONTINGENCIES
Legal Proceedings
We are involved, and will continue to be involved, in numerous legal proceedings arising out of the conduct of our business, including litigation with customers, third-party dealers, wage and hour and other employment-related lawsuits, and actions brought by governmental authorities. Some of these lawsuits purport or may be determined to be class or collective actions and seek substantial damages or injunctive relief, or both, and some may remain unresolved for several years. We establish accruals for specific legal proceedings when it is considered probable that a loss has been incurred and the amount of the loss can be reasonably estimated. Our accruals for loss contingencies are reviewed quarterly and adjusted as additional information becomes available. We disclose the amount accrued if material or if such disclosure is necessary for our financial statements to not be misleading. If a loss is not both probable and reasonably estimable, or if an exposure to loss exists in excess of the amount accrued, we assess whether there is at least a reasonable possibility that a loss, or additional loss, may have been incurred. If there is a reasonable possibility that a loss, or additional loss, may have been incurred, we disclose the estimate of the possible loss or range of loss if it is material or a statement that such an estimate cannot be made. Our evaluation of whether a loss is reasonably possible or probable is based on our assessment and consultation with legal counsel regarding the ultimate outcome of the matter.
As of December 31, 2024 and 2023, we have accrued for the potential impact of loss contingencies that are probable and reasonably estimable, and there was no indication of a reasonable possibility that a material loss, or additional material loss, may have been incurred. We do not believe that the ultimate resolution of any of these matters will have a material adverse effect on our results of operations, financial condition, or cash flows. However, the results of these matters cannot be predicted with certainty, and an unfavorable resolution of one or more of these matters could have a material adverse effect on our results of operations, financial condition, or cash flows.
Other Matters
AutoNation, acting through its subsidiaries, is the lessee under many real estate leases that provide for the use by our subsidiaries of their respective dealership premises. Pursuant to these leases, we agree to indemnify the lessor and other related parties from certain liabilities arising as a result of the use of the leased premises, including environmental liabilities, or a breach of the lease by the lessee. Additionally, from time to time, we enter into agreements with third parties in connection with the sale of assets or businesses in which we agree to indemnify the purchaser or related parties from certain liabilities or costs arising in connection with the assets or business. Also, in the ordinary course of business in connection with purchases or sales of goods and services, we enter into agreements that may contain indemnification provisions. In the event that an indemnification claim is asserted, our liability would be limited by the terms of the applicable agreement.
From time to time, primarily in connection with dispositions of automotive stores, we assign or sublet to the store purchaser our interests in any real property leases associated with such stores. In general, we retain responsibility for the performance of certain obligations under such leases to the extent that the assignee or sublessee does not perform, whether such performance is required prior to or following the assignment or subletting of the lease. Additionally, we generally remain subject to the terms of any guarantees made by us in connection with such leases. We generally have indemnification rights against the assignee or sublessee in the event of non-performance under these leases, as well as certain defenses. We presently have no reason to believe that we will be called on to perform under any such remaining assigned leases or subleases. We estimate that lessee rental payment obligations during the remaining terms of these leases with expirations ranging from 2027 to 2034 are approximately $4 million at December 31, 2024. There can be no assurance that any performance required of us under these leases would not have a material adverse effect on our business, financial condition, and cash flows.
At December 31, 2024, surety bonds, letters of credit, and cash deposits totaled $124.3 million, of which $0.8 million were letters of credit. In the ordinary course of business, we are required to post performance and surety bonds, letters of credit, and/or cash deposits as financial guarantees of our performance. We do not currently provide cash collateral for outstanding letters of credit.
In the ordinary course of business, we are subject to numerous laws and regulations, including automotive, environmental, health and safety, and other laws and regulations. We do not anticipate that the costs of such compliance will have a material adverse effect on our business, results of operations, cash flows, or financial condition, although such outcome is possible given the nature of our operations and the extensive legal and regulatory framework applicable to our business. We do not have any material known environmental commitments or contingencies.
v3.25.0.1
Business and Credit Concentrations
 12 Months Ended
Dec. 31, 2024
Risks and Uncertainties [Abstract]  
Business And Credit Concentrations BUSINESS AND CREDIT CONCENTRATIONS
We own and operate franchised automotive stores in the United States pursuant to franchise agreements with vehicle manufacturers. In 2024, approximately 64% of our total revenue was generated by our stores in Florida, California, and Texas. Franchise agreements generally provide the manufacturers or distributors with considerable influence over the operations of the store. The success of any franchised automotive dealership is dependent, to a large extent, on the financial condition, management, marketing, production, and distribution capabilities of the vehicle manufacturers or distributors of which we hold franchises. We had receivables from manufacturers or distributors of $267.1 million at December 31, 2024, and $240.5 million at December 31, 2023. Additionally, a large portion of our Contracts-in-Transit included in Receivables, net, in the accompanying Consolidated Balance Sheets, are due from automotive manufacturers’ captive finance subsidiaries which provide financing directly to our new and used vehicle customers.
We purchase substantially all of our new vehicles from various manufacturers or distributors at the prevailing prices available to all franchised dealers. Additionally, we finance a large portion of our new vehicle inventory with automotive manufacturers’ captive finance subsidiaries. Our sales volume could be adversely impacted by the manufacturers’ or distributors’ inability to supply the stores with an adequate supply of vehicles and related financing.
The core brands of vehicles that we sell, representing approximately 88% of the new vehicles that we sold in 2024, are manufactured by Toyota (including Lexus), Honda, Ford, General Motors, BMW, Mercedes-Benz, Stellantis, and Volkswagen (including Audi and Porsche). As a result, we are subject to a concentration of risk, and our business could be materially adversely impacted by the financial distress, including bankruptcy, of or other adverse event related to a major vehicle manufacturer or related lender or supplier.
We are also subject to concentration risk in the event of the non-performance of third-party information technology service providers, such as the provider of our dealer management system on which we significantly rely to operate our business. See Note 4 of the Notes to Consolidated Financial Statements for a discussion of an outage that impacted our results of operations during 2024.
Concentrations of credit risk with respect to non-manufacturer trade receivables are limited due to the wide variety of customers and markets in which our products are sold as well as their dispersion across many different geographic areas in the United States. Consequently, at December 31, 2024, we do not consider AutoNation to have any significant non-manufacturer concentrations of credit risk.
v3.25.0.1
Segment Information
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Information SEGMENT INFORMATION
At December 31, 2024, we had four reportable segments: (1) Domestic, (2) Import, (3) Premium Luxury, and (4) AutoNation Finance. Our Domestic segment is comprised of retail automotive franchises that sell new vehicles manufactured by Ford, General Motors, and Stellantis. Our Import segment is comprised of retail automotive franchises that sell new vehicles manufactured primarily by Toyota, Honda, Hyundai, Subaru, and Nissan. Our Premium Luxury segment is comprised of retail automotive franchises that sell new vehicles manufactured primarily by Mercedes-Benz, BMW, Lexus, Audi, and Jaguar Land Rover. The franchises in each of our Domestic, Import, and Premium Luxury segments also sell used vehicles, parts and automotive services, and automotive finance and insurance products. Our AutoNation Finance segment is comprised of our captive auto finance company, which provides indirect financing to qualified retail customers on vehicles we sell.
“Corporate and other” is comprised of our non-franchised businesses, including AutoNation USA used vehicle stores, collision centers, parts distribution centers, auction operations, and our mobile automotive repair and maintenance business,
all of which generate revenues but do not meet the quantitative thresholds for reportable segments, as well as unallocated corporate overhead expenses and other income items.
The reportable segments identified above are the business activities of the Company for which discrete financial information is available and for which operating results are regularly reviewed by our chief operating decision maker to allocate resources and assess performance. Our chief operating decision maker for each of our reportable segments is our Chief Executive Officer. For the Domestic, Import, and Premium Luxury segments, the chief operating decision maker uses operating income less floorplan expense to assess performance and allocate resources to each segment. Our chief operating decision maker uses AutoNation Finance Income (Loss) to assess performance and allocate resources to the AutoNation Finance segment.
The following tables provide segment revenues and segment expenses that align with the segment-level information that is regularly provided to the chief operating decision maker, as well as a reconciliation of reportable segment income to our income from continuing operations before income taxes:
Year Ended December 31, 2024
Domestic
Import
Premium Luxury
AutoNation Finance
Total
Revenues from external customers:(1)
Franchised dealerships
$7,140.3 $8,156.9 $10,139.9 $25,437.1 
Corporate and other
1,328.3 
Total consolidated revenues 26,765.4 
Less segment expenses:
Cost of sales:
New vehicle
3,389.2 4,066.2 4,816.8 
Used vehicle
1,963.9 2,029.9 2,685.2 
Parts and service
632.1 609.5 784.2 
Other
5.6 13.7 0.1 
Total cost of sales
5,990.8 6,719.3 8,286.3 
Selling, general and administrative expenses:
Compensation
497.2 575.8 648.4 
Advertising
68.7 83.8 54.8 
Store overhead
200.5 217.7 306.5 
Total selling, general, and administrative expenses
766.4 877.3 1,009.7 
Depreciation and amortization44.3 43.9 79.6 
Floorplan interest expense
84.0 39.9 88.7 
Other income(2)
(0.1)(0.1)(0.1)
Franchised dealerships - segment income
$254.9 $476.6 $675.7 1,407.2 
AutoNation Finance:
Interest fee income
118.4 
Interest expense
(39.8)
Provision for credit losses
(57.5)
Direct expenses(3)
(37.8)
Gain on sale of auto loans receivable
7.4 
AutoNation Finance income (loss)
$(9.3)(9.3)
Corporate and other
(311.3)
Other interest expense
(179.7)
Other income, net
9.8 
Income from continuing operations before income taxes
$916.7 
(1) See Note 2 of the Notes to Consolidated Financial Statements for detail of revenue by segment.
(2) Other income includes net gains on asset dispositions and legal settlements.
(3) Direct expenses are comprised primarily of compensation expense and loan administration costs incurred by our auto finance company.
Year Ended December 31, 2023
Domestic
Import
Premium Luxury
AutoNation Finance
Total
Revenues from external customers:(1)
Franchised dealerships
$7,573.2 $7,880.9 $10,266.4 $25,720.5 
Corporate and other
1,228.4 
Total consolidated revenues26,948.9 
Less segment expenses:
Cost of sales:
New vehicle
3,301.6 3,644.3 4,759.6 
Used vehicle
2,303.5 2,073.3 2,803.3 
Parts and service
667.4 591.9 752.1 
Other
1.5 24.3 1.0 
Total cost of sales
6,274.0 6,333.8 8,316.0 
Selling, general and administrative expenses:
Compensation
515.2 578.6 646.2 
Advertising
65.6 76.1 55.0 
Store overhead
202.2 196.8 281.9 
Total selling, general, and administrative expenses
783.0 851.5 983.1 
Depreciation and amortization43.6 39.2 76.9 
Floorplan interest expense
57.3 21.5 53.9 
Other income(2)
(0.1)(0.1)— 
Franchised dealerships - segment income
$415.4 $635.0 $836.5 1,886.9 
AutoNation Finance:
Interest fee income
84.0 
Interest expense
(20.8)
Provision for credit losses
(45.9)
Direct expenses(3)
(39.3)
Gain on sale of auto loans receivable
8.1 
AutoNation Finance income (loss)
$(13.9)(13.9)
Corporate and other
(365.8)
Other interest expense
(181.4)
Other income, net
24.4 
Income from continuing operations before income taxes
$1,350.2 
(1) See Note 2 of the Notes to Consolidated Financial Statements for detail of revenue by segment.
(2) Other income includes net gains on asset dispositions and legal settlements.
(3) Direct expenses are comprised primarily of compensation expense and loan administration costs incurred by our auto finance company.
Year Ended December 31, 2022
Domestic
Import
Premium Luxury
AutoNation Finance
Total
Revenues from external customers:(1)
Franchised dealerships
$7,987.5 $7,690.3 $10,278.1 $25,955.9 
Corporate and other
1,029.1 
Total consolidated revenues26,985.0 
Less segment expenses:
Cost of sales:
New vehicle
3,094.3 3,054.3 4,239.5 
Used vehicle
2,878.2 2,486.8 3,311.6 
Parts and service
621.7 549.7 705.3 
Other
1.7 18.2 2.9 
Total cost of sales
6,595.9 6,109.0 8,259.3 
Selling, general and administrative expenses:
Compensation
535.2 576.8 668.0 
Advertising
50.7 61.1 38.0 
Store overhead
188.3 168.9 253.9 
Total selling, general, and administrative expenses
774.2 806.8 959.9 
Depreciation and amortization39.1 35.6 74.9 
Floorplan interest expense
14.4 4.8 15.0 
Other income(2)
(1.4)(0.1)(0.1)
Franchised dealerships - segment income
$565.3 $734.2 $969.1 2,268.6 
AutoNation Finance:
Interest fee income
20.6 
Interest expense
(4.7)
Provision for credit losses
(44.0)
Direct expenses(3)
(9.5)
AutoNation Finance income (loss)
$(37.6)(37.6)
Corporate and other
(247.9)
Other interest expense
(134.9)
Other loss, net
(14.7)
Income from continuing operations before income taxes
$1,833.5 
(1) See Note 2 of the Notes to Consolidated Financial Statements for detail of revenue by segment.
(2) Other income includes net gains on asset dispositions and legal settlements.
(3) Direct expenses are comprised primarily of compensation expense and loan administration costs incurred by our auto finance company.
The following tables provide information on floorplan interest expense, depreciation and amortization, capital expenditures, and total assets:
Year Ended December 31, 2024
DomesticImportPremium Luxury
AutoNation Finance
Corporate and otherTotal
Floorplan interest expense$84.0 $39.9 $88.7 $— $6.3 $218.9 
Depreciation and amortization$44.3 $43.9 $79.6 $— $72.9 $240.7 
Capital expenditures(1)
$46.5 $85.7 $56.8 $1.1 $117.9 $308.0 
Segment assets(2)
$2,407.8 $2,184.8 $3,829.9 $1,118.3 $3,460.9 $13,001.7 
Year Ended December 31, 2023
DomesticImportPremium Luxury
AutoNation Finance
Corporate and otherTotal
Floorplan interest expense$57.3 $21.5 $53.9 $— $12.0 $144.7 
Depreciation and amortization$43.6 $39.2 $76.9 $— $60.8 $220.5 
Capital expenditures(1)
$102.0 $106.6 $69.4 $0.5 $137.5 $416.0 
Segment assets(2)
$2,507.7 $2,034.6 $3,506.8 $430.5 $3,500.4 $11,980.0 
Year Ended December 31, 2022
DomesticImportPremium Luxury
AutoNation Finance
Corporate and otherTotal
Floorplan interest expense$14.4 $4.8 $15.0 $— $7.2 $41.4 
Depreciation and amortization$39.1 $35.6 $74.9 $— $50.7 $200.3 
Capital expenditures(1)
$32.8 $70.1 $126.5 $0.1 $106.7 $336.2 
Segment assets(2)
$1,974.3 $1,555.6 $2,996.8 $337.8 $3,195.2 $10,059.7 
(1) Includes accrued construction in progress and excludes property associated with leases entered during the year.
(2) “Corporate and other” assets include goodwill and franchise rights.
v3.25.0.1
Multiemployer Pension Plans
 12 Months Ended
Dec. 31, 2024
Multiemployer Plan [Abstract]  
Multiemployer Pension Plans MULTIEMPLOYER PENSION PLANS
Four of our 243 stores participate in multiemployer pension plans. We contribute to these multiemployer defined benefit pension plans under the terms of collective-bargaining agreements that cover certain of our union-represented employees. The risks of participating in these multiemployer plans are different from single-employer plans in the following aspects:
a.    Assets contributed to the multiemployer plan by one employer may be used to provide benefits to employees of other participating employers.
b.    If a participating employer stops contributing to the plan, the unfunded obligations of the plan may be assumed by the remaining participating employers.
c.    If we choose to stop participating in a multiemployer plan, we may be required to pay the plan an amount based on the underfunded status of the plan, subject to certain limits, referred to as a withdrawal liability.
Two of the multiemployer pension plans in which we participate are designated as being in “red zone” status, as defined by the Pension Protection Act (PPA) of 2006. Our participation in these plans for the year ended December 31, 2024, is outlined in the table below. The “EIN/Pension Plan Number” column provides the Employer Identification Number (EIN) and the three-digit plan number. The most recent PPA zone status available in 2024 and 2023 is based on information that
we received from the plans and is certified by each plan’s actuary. Among other factors, plans in the red zone are generally less than 65 percent funded. The last column lists the expiration date of the collective-bargaining agreements to which the plans are subject. A rehabilitation plan has been implemented for each plan. In the third quarter of 2024, we divested one store that participated in a multiemployer pension plan. There have been no other significant changes that affect the comparability of 2024, 2023, and 2022 contributions.
Pension Protection Act Zone Status
Contributions of AutoNation
($ in millions) (1)
Expiration Date of Collective-Bargaining Agreement
Pension Fund
EIN/Pension Plan Number
20242023202420232022
Surcharge Imposed (2)
Automotive Industries Pension Plan94-1133245 - 001RedRed$1.2 $1.2 $1.3 Yes(3)
IAM National Pension Fund51-6031295- 002RedRed0.2 0.2 0.2 Yes(4)
Other funds— 0.1 0.1 
Total contributions$1.4 $1.5 $1.6 
(1)    Our stores were not listed in the Automotive Industries Pension Plan’s or IAM National Pension Fund’s Form 5500 as providing more than 5% of the total contributions for the plan years ended December 31, 2023 or 2022.
(2)    We paid surcharges to the Automotive Industries Pension Plan of $0.6 million, $0.6 million, and $0.6 million in 2024, 2023, and 2022 respectively. Surcharges to the IAM National Pension Fund were de minimis.
(3)    We are party to three collective-bargaining agreements that require contributions to the Automotive Industries Pension Plan each with an expiration date of June 30, 2027.
(4)    We are party to one collective-bargaining agreement that requires contributions to the IAM National Pension Fund with an expiration date of August 31, 2025.
In the event that we cease participating in these plans, we could be assessed withdrawal liabilities, which we estimate are approximately $14 million for the Automotive Industries Pension Plan and approximately $4 million for the IAM National Pension Fund.
v3.25.0.1
Pay vs Performance Disclosure - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pay vs Performance Disclosure      
Net Income (Loss) Attributable to Parent $ 692.2 $ 1,021.1 $ 1,377.4
v3.25.0.1
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2024
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.0.1
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.0.1
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
Risk Management and Strategy
We have developed and continue to enhance our cybersecurity governance program to help protect the security of our computer systems, software, networks, and other technology assets against material risks from cybersecurity threats, including unauthorized attempts to access confidential information or to disrupt or degrade our business operations. Our cybersecurity governance program is strategically integrated into our broader risk management framework and aims to (1) proactively manage cyber and information security risks at AutoNation, (2) implement the internal controls required by cybersecurity regulatory requirements as well as AutoNation’s information security control objective documents and information security standards, and (3) improve the efficiency, maturity, and effectiveness of technology functions and processes.
We regularly evaluate new and emerging risks and ever-changing legal and compliance requirements and examine the effectiveness and maturity of our cyber defenses through various means, including internal audits, targeted testing, incident response exercises, maturity assessments, and industry benchmarking. We also dedicate significant resources that are designed to secure our systems and to protect confidential information, such as firewalls, endpoint protection, and behavior analysis tools, among others, and engage with a range of external experts, including cybersecurity assessors, consultants, and auditors in evaluating and testing our risk management systems. In addition, we annually perform a risk assessment of our third-party service providers.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block] Our cybersecurity governance program is strategically integrated into our broader risk management framework and aims to (1) proactively manage cyber and information security risks at AutoNation, (2) implement the internal controls required by cybersecurity regulatory requirements as well as AutoNation’s information security control objective documents and information security standards, and (3) improve the efficiency, maturity, and effectiveness of technology functions and processes.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] false
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block] Our Board of Directors is acutely aware of the critical nature of managing risks associated with cybersecurity threats and oversees risks associated with cybersecurity threats.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] The Board’s Audit Committee is central to the Board’s oversight of cybersecurity risks and bears the primary responsibility for this area. The Audit Committee is composed of independent directors with diverse expertise, including risk management, technology, and finance, equipping them to oversee cybersecurity risks effectively.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] Our Chief Information Security Officer (“CISO”) plays a pivotal role in informing the Audit Committee on cybersecurity risks. He provides comprehensive briefings to the Audit Committee on a quarterly basis or more frequently as needed. These briefings encompass a broad range of topics, including emerging threats, the status of ongoing cybersecurity initiatives, and incident reports and learnings from any cybersecurity events. The Audit Committee actively participates and offers guidance in strategic decisions related to cybersecurity. This involvement helps ensure that cybersecurity considerations are integrated into our broader strategic objectives.
Cybersecurity Risk Role of Management [Text Block]
Our CISO regularly informs our Chief Executive Officer and Chief Financial Officer of all aspects related to cybersecurity risks and incidents. This helps ensure that the highest levels of management are kept abreast of the cybersecurity posture and potential risks facing the Company. Furthermore, significant cybersecurity matters and strategic risk management decisions are escalated to our Board of Directors, ensuring that they have comprehensive oversight and can provide guidance on critical cybersecurity issues.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]
Our Board of Directors is acutely aware of the critical nature of managing risks associated with cybersecurity threats and oversees risks associated with cybersecurity threats. The Board’s Audit Committee is central to the Board’s oversight of cybersecurity risks and bears the primary responsibility for this area. The Audit Committee is composed of independent directors with diverse expertise, including risk management, technology, and finance, equipping them to oversee cybersecurity risks effectively.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] With nearly three decades of experience in the field of cybersecurity, including extensive experience as an enterprise CISO, his in-depth knowledge and experience are instrumental in developing and executing our cybersecurity strategies.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]
Our CISO regularly informs our Chief Executive Officer and Chief Financial Officer of all aspects related to cybersecurity risks and incidents. This helps ensure that the highest levels of management are kept abreast of the cybersecurity posture and potential risks facing the Company. Furthermore, significant cybersecurity matters and strategic risk management decisions are escalated to our Board of Directors, ensuring that they have comprehensive oversight and can provide guidance on critical cybersecurity issues.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.0.1
Description of Business and Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation
The accompanying Consolidated Financial Statements include the accounts of AutoNation, Inc. and its subsidiaries. All of our automotive dealership subsidiaries are indirectly wholly owned by the parent company, AutoNation, Inc. Intercompany accounts and transactions have been eliminated in the consolidation.
Certain amounts from the previously reported financial statements have been reclassified to conform to the financial statement presentation of the current period.
Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. In preparing these financial statements, management has made its best estimates and judgments of certain amounts included in the financial statements. We base our estimates and judgments on historical experience and other assumptions that we believe are reasonable. However, application of these accounting policies involves the exercise of judgment and use of assumptions as to future uncertainties and, as a result, actual results could differ materially from these estimates. We periodically evaluate estimates and assumptions used in the preparation of the financial statements and make changes on a prospective basis when adjustments are necessary. Such estimates and assumptions affect, among other things, our goodwill, indefinite-lived intangible asset, and long-lived asset valuations; inventory valuation; equity investment valuation; assets held for sale; assessments of variable consideration and related constraints associated with retrospective commissions; accruals for chargebacks against revenue recognized from the sale of finance and insurance products; accruals related to self-insurance programs; the allowance for expected credit losses; certain legal proceedings; assessment of the annual income tax expense; deferred income taxes and income tax contingencies; and measurement of performance-based compensation costs.
Cash and Cash Equivalents
We consider all highly liquid investments with a maturity of three months or less as of the date of purchase to be cash equivalents unless the investments are legally or contractually restricted for more than three months. Under our cash management system, outstanding checks that are in excess of the cash balances at certain banks are included in Accounts Payable in the Consolidated Balance Sheets and changes in these amounts are reflected in operating cash flows in the accompanying Consolidated Statements of Cash Flows.
Inventory Inventory consists primarily of new and used vehicles held for sale, valued at the lower of cost or net realizable value using the specific identification method. Cost includes acquisition, reconditioning, dealer installed accessories, and transportation expenses. Our new vehicle inventory costs are generally reduced by manufacturer holdbacks (percentage of either the manufacturer’s suggested retail price or invoice price of a new vehicle that the manufacturer repays to the dealer), incentives, floorplan assistance, and non-reimbursement-based manufacturer advertising assistance. Parts, accessories, and other inventory are valued at the lower of cost or net realizable value.
Auto Loans Receivable Auto loans receivable include amounts due from customers related to retail vehicle sales financed through our captive auto finance company, as well as retail vehicle installment sales contracts acquired through third-party dealers prior to October 2023. Auto loans receivable are presented net of an allowance for expected credit losses.
Financing and Securitization Transactions Through wholly-owned, bankruptcy-remote, special purpose entities, we utilize warehouse facilities to fund auto loans receivable originated by our captive auto finance company. We also have term securitizations that were put in place prior to our acquisition of our captive auto finance company to provide long-term funding for certain auto loans receivable initially funded through the warehouse facilities. In these transactions, a pool of auto loans receivable is sold to a bankruptcy-remote, special purpose entity that, in turn, transfers the receivables to a special purpose securitization trust. The securitization trust issues asset-backed securities, secured or otherwise supported by the transferred receivables, and the proceeds from the sale of the asset-backed securities are used to finance the securitized receivables. We are required to evaluate the term securitization trusts for consolidation.
Property and Equipment, net
Property and equipment are recorded at cost less accumulated depreciation. Expenditures for major additions and improvements are capitalized, while minor replacements, maintenance, and repairs are charged to expense as incurred. In addition, we capitalize interest on borrowings during the active construction period of capital projects. Capitalized interest is added to the cost of the assets and depreciated over the estimated useful lives of the assets. Leased property meeting certain criteria is capitalized as a finance lease right-of-use asset and the present value of the related lease payments is recorded as a liability and included in current and/or long-term debt based on the lease term. When property is retired or otherwise disposed of, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in Other Income, Net (within Operating Income) in the Consolidated Statements of Income. See Note 8 of the Notes to Consolidated Financial Statements for detailed information about our property and equipment.
Depreciation is recorded over the estimated useful lives of the assets involved using the straight-line method. Leasehold improvements and finance lease right-of-use assets are amortized to depreciation expense over the estimated useful life of the asset or the respective lease term used in determining lease classification, whichever is shorter. The range of estimated useful lives is as follows:
Buildings and improvements    5 to 40 years
Furniture, fixtures, and equipment    3 to 10 years
We continually evaluate property and equipment, including leasehold improvements, to determine whether events or changes in circumstances have occurred that may warrant revision of the estimated useful life or whether the remaining balance should be evaluated for possible impairment. Such events or changes in circumstances may include a significant decrease in market value, a significant change in the business climate in a particular market, a current expectation that more-likely-than-not a long-lived asset will be sold or otherwise disposed of significantly before the end of its previously estimated useful life, or a current-period operating or cash flow loss combined with historical losses or projected future losses. We use an estimate of the related undiscounted cash flows over the remaining life of the asset (asset group) in assessing whether an asset (asset group) is recoverable. If the asset (asset group) is not recoverable, we determine the fair value of the asset (asset group) based on Level 3 inputs, and measure impairment losses based upon the amount by which the carrying amount of the asset (asset group) exceeds the fair value. If we recognize an impairment loss on a depreciable long-lived asset, the adjusted carrying amount of the asset becomes its new cost basis, which is depreciated over the remaining useful life of that asset.
When property and equipment are identified as held for sale, we reclassify the held for sale assets to Other Current Assets and cease recording depreciation. We measure each long-lived asset or disposal group at the lower of its carrying amount or fair value less cost to sell and recognize a loss for any initial adjustment of the long-lived asset’s or disposal group’s carrying amount to fair value less cost to sell in the period the “held for sale” criteria are met. Such valuations include estimations of fair values and incremental direct costs to transact a sale. The fair value measurements for our long-lived assets held for sale are based on Level 3 inputs, which consider information obtained from third-party real estate valuation sources, or, in certain cases, pending agreements to sell the related assets. We recognize an impairment loss if the amount of the asset’s or disposal group’s carrying amount exceeds the asset’s or disposal group’s estimated fair value less cost to sell.
Goodwill and Other Intangible Assets, net
Goodwill consists of the cost of acquired businesses in excess of the fair value of the net assets acquired. Additionally, other intangible assets are separately recognized if the benefit of the intangible asset is obtained through contractual or other legal rights, or if the intangible asset can be sold, transferred, licensed, rented, or exchanged, regardless of our intent to do so.
Our principal identifiable intangible assets are rights under franchise agreements with vehicle manufacturers. We generally expect our franchise agreements to survive for the foreseeable future and, when the agreements do not have indefinite terms, anticipate routine renewals of the agreements without substantial cost. The contractual terms of our franchise agreements provide for various durations, ranging from one year to no expiration date, and in certain cases,
manufacturers have undertaken to renew such franchises upon expiration so long as the dealership is in compliance with the terms of the agreement. However, in general, the states in which we operate have automotive dealership franchise laws that provide that, notwithstanding the terms of any franchise agreement, it is unlawful for a manufacturer to terminate or not renew a franchise unless “good cause” exists. It is generally difficult, outside of bankruptcy, for a manufacturer to terminate or not renew a franchise under these franchise laws, which were designed to protect dealers. In addition, in our experience and historically in the automotive retail industry, dealership franchise agreements are rarely involuntarily terminated or not renewed by the manufacturer outside of bankruptcy. Accordingly, we believe that our franchise agreements will contribute to cash flows for the foreseeable future and have indefinite lives. Other intangible assets are amortized using a straight-line method over their useful lives, generally ranging from three to thirty years.
Stock-Based Compensation
We grant stock-based awards in the form of time-based, performance-based, and market-based restricted stock units (“RSUs”), which are issued from our treasury stock upon vesting. Compensation cost for time-based and performance-based RSUs is based on the closing price of our common stock on the date of grant. Compensation cost for market-based RSUs is based on the fair value of the award calculated using a Monte Carlo simulation model on the date of grant.
Certain of our equity-based compensation plans contain provisions that provide for vesting of awards upon retirement. Accordingly, compensation cost for time-based RSUs is recognized on a straight-line basis over the shorter of the stated vesting period or the period until associates become retirement-eligible. Compensation cost for performance-based RSUs is recognized based on the expected achievement level of the performance goals, which is evaluated over the performance period, and recognized over the shorter of the stated vesting period or the period until associates become retirement-eligible. Compensation cost for market-based RSUs is recognized over the shorter of the stated vesting period or the period until associates become retirement-eligible, regardless of whether the market condition is satisfied. We account for forfeitures of stock-based awards as they occur.
Insurance Under our self-insurance programs, we retain various levels of aggregate loss limits, per claim deductibles, and claims-handling expenses as part of our various insurance programs, including property and casualty, automobile, workers’ compensation, and employee medical benefits. Costs in excess of this retained risk per claim may be insured under various contracts with third-party insurance carriers. We review our claim and loss history on a periodic basis to assist in assessing our future liability. The ultimate costs of these retained insurance risks, including related legal costs, are estimated by management and by third-party actuarial evaluation of historical claims experience, adjusted for current trends and changes in claims-handling procedures.
Manufacturer Incentives And Other Rebates
We receive various incentives from manufacturers based on achieving certain objectives, such as specified sales volume targets, as well as other objectives, including maintaining standards of a particular vehicle brand, which may include but are not limited to facility image and design requirements, customer satisfaction survey results, and training standards, among others. These incentives are typically based upon units purchased or sold. These manufacturer incentives are recognized as a reduction of new vehicle cost of sales when earned, generally at the time the related vehicles are sold or upon attainment of the particular program goals, whichever is later.
We also receive manufacturer rebates and assistance for holdbacks, floorplan interest, and non-reimbursement-based advertising expenses (described below), which are reflected as a reduction in the carrying value of each vehicle purchased by us. We recognize holdbacks, floorplan interest assistance, non-reimbursement-based advertising rebates, cash incentives, and other rebates received from manufacturers that are tied to specific vehicles as a reduction to cost of sales as the related vehicles are sold.
Advertising We generally expense the cost of advertising as incurred, net of earned manufacturer reimbursements for specific advertising costs and other discounts.
Reimbursable advertising assistance Manufacturer advertising rebates that are reimbursements of costs associated with specific advertising expenses are earned in accordance with the respective manufacturers’ reimbursement-based advertising assistance programs, which is typically after we have incurred the corresponding advertising expenses, and are reflected as a reduction of advertising expense.
Parts and Service Internal Profit
Our parts and service departments recondition the majority of used vehicles acquired by our used vehicle departments and perform preparatory work and accessory installation on new vehicles acquired by our new vehicle departments. The parts and service departments charge the new and used vehicle departments as if they were third parties in order to account for total activity performed by that department. Revenues and costs of sales associated with the internal work performed by our parts and service departments are reflected in our parts and service results in our Consolidated Statements of Income. New and used vehicle revenues and costs of sales are reduced by the amount of the intracompany charge. As a result, the revenues and costs of sales associated with the internal work performed by our parts and service departments are eliminated in consolidation. We also defer internal profit associated with the internal work performed by our parts and service departments on our vehicle inventory until such vehicles have been sold.
Income Taxes We file a consolidated federal income tax return. Deferred income taxes have been provided for temporary differences between the recognition of revenue and expenses for financial and income tax reporting purposes and between the tax basis of assets and liabilities and their reported amounts in the financial statements.
Earnings (Loss) Per Share Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding for the period, including vested RSU awards. Diluted earnings per share is computed using the treasury stock method by dividing net income by the weighted average number of shares outstanding, noted above, including the dilutive effect of unvested RSU awards and stock options.
Taxes Assessed by Governmental Authorities Taxes assessed by governmental authorities that are directly imposed on revenue transactions are excluded from revenue and expenses.
Revenue Recognition
New and Used Vehicle
We sell new vehicles at our franchised dealerships and used vehicles at our franchised dealerships, AutoNation USA used vehicle stores, and wholesale auctions. The transaction price for a vehicle sale is determined with the customer at the time of sale. Customers often trade in their own vehicle to apply toward the purchase of a retail new or used vehicle. The “trade-in” vehicle is a type of noncash consideration measured at fair value, based on external and internal market data for the specific vehicle, and applied as payment to the contract price for the purchased vehicle.
When we sell a new or used vehicle, we typically transfer control at a point in time upon delivery of the vehicle to the customer, which is generally at time of sale, as the customer is able to direct the use of, and obtain substantially all of the benefits from, the vehicle at such time. We do not directly finance our customers’ vehicle purchases or leases. We offer indirect financing on certain vehicles we sell, and income from such financing is reflected in AutoNation Finance Income (Loss) in our Consolidated Statements of Income. In many cases, we arrange third-party financing for the retail sale or lease of vehicles to our customers in exchange for a fee paid to us by the third-party financial institution. We receive payment directly from the customer at the time of sale, from the third-party financial institution (referred to as contracts-in-transit or vehicle receivables, which are part of our receivables from contracts with customers), or from our captive auto finance company within a short period of time following the sale. We establish provisions, which are not significant, for estimated returns and warranties on the basis of both historical information and current trends.
We also offer auction services at our AutoNation-branded automotive auctions, revenue from which is included within Used Vehicle wholesale revenue. The transaction price for auction services is based on an established pricing schedule and determined with the customer at the time of sale, and payment is due upon completion of service. We satisfy our performance obligations related to auction services at the point in time that control transfers to the customer, which is when the service is completed.
Parts and Service
We sell parts and automotive services related to customer-paid repairs and maintenance, repairs and maintenance under manufacturer warranties and extended service contracts, and collision-related repairs. We also sell parts through our wholesale and retail counter channels, as well as our e-commerce website.
Each automotive repair and maintenance service is a single performance obligation that includes both the parts and labor associated with the service. Payment for automotive service work is typically due upon completion of the service, which is generally completed within a short period of time from contract inception. The transaction price for automotive repair and maintenance services is based on the parts used, the number of labor hours applied, and standardized hourly labor rates. We satisfy our performance obligations, transfer control, and recognize revenue over time for automotive repair and maintenance services because we are creating an asset with no alternative use and we have an enforceable right to payment for performance completed to date. We use an input method to recognize revenue and measure progress based on labor hours expended relative to the total labor hours expected to be expended to satisfy the performance obligation. We have determined labor hours expended to be the relevant measure of work performed to complete the automotive repair or maintenance service for the customer. As a practical expedient, since automotive repair and maintenance service contracts have an original duration of one year or less, we do not consider the time value of money, and we do not disclose estimated revenue expected to be recognized in the future for performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period or when we expect to recognize such revenue.
The transaction price for wholesale and retail counter parts sales is determined at the time of sale based on the quantity and price of each product purchased. Payment is typically due at time of sale, or within a short period of time following the sale. We establish provisions, which are not significant, for estimated parts returns based on historical information and current trends. Delivery methods of wholesale and retail counter parts vary; however, we generally consider control of wholesale and retail counter parts to transfer when the products are shipped, which typically occurs the same day as or within a few days of the sale.
Finance and Insurance
We sell and receive a commission on the following types of finance and insurance products: extended service contracts, maintenance programs, guaranteed auto protection (known as “GAP,” this protection covers the shortfall between a customer’s loan balance and insurance payoff in the event of a casualty), “tire and wheel” protection, and theft protection products, among others. We offer products that are sold and administered by independent third parties, including the vehicle manufacturers’ captive finance subsidiaries.
Pursuant to our arrangements with these third-party providers, we sell the products on a commission basis, and, for certain products, we also participate in future profit pursuant to retrospective commission arrangements with the issuers of those contracts through the life of the related contracts. For retrospective commission arrangements, we are paid annually based on the annual performance of the issuers’ product portfolio. For the majority of finance and insurance product sales, our performance obligation is to arrange for the provision of goods or services by another party. Our performance obligation is satisfied when this arrangement is made, which is when the finance and insurance product is delivered to the end-customer, generally at the time of the vehicle sale. As agent, we recognize revenue in the amount of any fee or commission to which we expect to be entitled, which is the net amount of consideration that we retain after paying the third-party provider the consideration received in exchange for the goods or services to be fulfilled by that party.
The retrospective commission we earn on each product sold is a form of variable consideration that is subject to constraint due to it being highly susceptible to factors outside our influence and control. Our agreements with the third-party administrators generally provide for an annual retrospective commission payout based on the product portfolio performance for that year. We estimate variable consideration related to retrospective commissions and perform a constraint analysis using the expected value method based on the historical performance of the product portfolios and current trends to estimate the amount of retrospective commissions to which we expect we will be entitled. At each reporting period, we reassess our expectations about the amount of retrospective commission variable consideration to which we expect to be entitled and recognize revenue when we no longer believe a significant revenue reversal is probable.
Additionally, we may be charged back for commissions related to finance and insurance products in the event of early termination, default, or prepayment of the contracts by end-customers (“chargebacks”). An estimated refund liability for chargebacks against the revenue recognized from sales of finance and insurance products is recorded in the period in which the related revenue is recognized and is based primarily on our historical chargeback experience. We update our measurement of the chargeback liability at each reporting date for changes in expectations about the amount of chargebacks. See Note 12 of the Notes to Consolidated Financial Statements for more information regarding chargeback liabilities.
We also sell a vehicle maintenance program (the Vehicle Care Program or “VCP”) where we act as the principal in the sale since we have the primary responsibility to provide the specified services to the customer under the VCP contract. When a VCP product is sold in conjunction with the sale of a vehicle to the same customer, the stand-alone selling prices of each product are based on observable selling prices. Under a VCP contract, a customer purchases a specific number of maintenance services to be redeemed at an AutoNation location over a five-year term from the date of purchase. We satisfy our performance obligations and recognize revenue as maintenance services are rendered, since the customer benefits when we have completed the maintenance service. Although payment is due from the customer at the time of sale and services are rendered at points in time during a five-year contract term, these contracts do not contain a significant financing component as the transfer of services is at the discretion of the customer.
Auto loans receivable, Allowance for credit losses
The allowance for credit losses represents the net credit losses expected over the remaining contractual life of our auto loans receivable. The allowance for credit losses is determined using a vintage-level statistical model that captures the relationship between historical changes in gross losses and the lifetime loss curves by month on book, credit tiers at origination, and seasonality, adjusted for expected recoveries based on historical recovery trends. The credit loss model also incorporates reasonable and supportable forecasts about the future utilizing a forecast of a macroeconomic variable, specifically, the change in U.S. disposable personal income, which we believe is most strongly correlated to evaluating and
predicting expected credit losses of our auto loans receivable. We utilize a reasonable and supportable forecast period of one year, after which we immediately revert to historical experience.
We periodically consider whether the use of alternative variables would result in improved credit loss model accuracy and revise the model when appropriate. We also consider whether qualitative adjustments are necessary for factors that are not reflected in the quantitative methods but impact the measurement of estimated credit losses. Such adjustments include the expectations of the impact of recent economic trends on customer behavior.
The net loss estimate is calculated by applying the loss rates developed using the methods described above to the amortized cost basis of the auto loans receivable. The change in the allowance for credit losses is recognized through an adjustment to the provision for credit losses.
Impairment Of Long-Lived Assets Nonfinancial assets such as goodwill, other intangible assets, and long-lived assets held and used, are measured at fair value when there is an indicator of impairment and recorded at fair value only when impairment is recognized or for a business combination. The fair values less costs to sell of long-lived assets or disposal groups held for sale are assessed each reporting period they remain classified as held for sale. Subsequent changes in the held for sale long-lived asset’s or disposal group’s fair value less cost to sell (increase or decrease) are reported as an adjustment to its carrying amount, except that the adjusted carrying amount cannot exceed the carrying amount of the long-lived asset or disposal group at the time it was initially classified as held for sale.
New Accounting Pronouncements, Policy
In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, that requires disclosure of significant segment expenses that are regularly reviewed by the chief operating decision maker and included within each reported measure of segment profit or loss. The standard also requires
disclosure of the composition of other segment items included in the measure of segment profit or loss that are not separately disclosed. The new standard is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. We adopted this accounting standard for our fiscal year beginning January 1, 2024, retrospectively. Therefore, prior periods have been updated to conform with the current period presentation. See Note 22 of the Notes to Consolidated Financial Statements for our reportable segment disclosures.
In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, that requires presentation of specific categories of reconciling items, as well as reconciling items that meet a quantitative threshold, in the reconciliation between the income tax provision and the income tax provision using statutory tax rates. The standard also requires disclosure of income taxes paid disaggregated by jurisdiction with separate disclosure of income taxes paid to individual jurisdictions that meet a quantitative threshold. The amendments in this accounting standard are effective for fiscal years beginning after December 15, 2024, on a prospective basis. Early adoption and retrospective application are permitted. We do not expect the adoption of this accounting standard to have an impact on our Consolidated Financial Statements, but will require certain additional disclosures.
In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, that requires disclosure of the amounts of purchases of inventory, employee compensation, depreciation, and intangible asset amortization included in each relevant expense line item on the income statement. The standard also requires a qualitative description of other amounts included in each relevant expense line item on the income statement that are not separately disclosed. In addition, entities are required to disclose the nature and amount of selling expenses. The new standard is effective for fiscal years beginning after December 15, 2026, and interim periods beginning after December 15, 2027. Early adoption is permitted. We do not expect the adoption of this accounting standard to have an impact on our Consolidated Financial Statements, but will require certain additional disclosures.
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Revenue Recognition (Tables)
 12 Months Ended
Dec. 31, 2024
Revenue Recognition [Abstract]  
Disaggregation of Revenue In the following tables, revenue is disaggregated by major lines of goods and services and timing of transfer of goods and services. The tables also include a reconciliation of the disaggregated revenue to reportable segment revenue.
Year Ended December 31, 2024
DomesticImportPremium Luxury
Corporate and other(1)
Total
Major Goods/Service Lines
New vehicle$3,527.1 $4,320.0 $5,201.1 $— $13,048.2 
Used vehicle2,057.5 2,162.5 2,837.0 662.9 7,719.9 
Parts and service1,146.0 1,194.7 1,667.4 606.5 4,614.6 
Finance and insurance, net402.5 470.9 434.1 52.6 1,360.1 
Other7.2 8.8 0.3 6.3 22.6 
$7,140.3 $8,156.9 $10,139.9 $1,328.3 $26,765.4 
Timing of Revenue Recognition
Goods and services transferred at a point in time$6,285.7 $7,212.3 $8,703.6 $916.4 $23,118.0 
Goods and services transferred over time(2)
854.6 944.6 1,436.3 411.9 3,647.4 
$7,140.3 $8,156.9 $10,139.9 $1,328.3 $26,765.4 
Year Ended December 31, 2023
DomesticImportPremium Luxury
Corporate and other(1)
Total
Major Goods/Service Lines
New vehicle$3,525.0 $3,996.0 $5,246.4 $— $12,767.4 
Used vehicle2,428.4 2,222.2 2,979.5 568.4 8,198.5 
Parts and service1,184.7 1,150.1 1,593.1 605.8 4,533.7 
Finance and insurance, net432.0 490.1 446.2 50.5 1,418.8 
Other3.1 22.5 1.2 3.7 30.5 
$7,573.2 $7,880.9 $10,266.4 $1,228.4 $26,948.9 
Timing of Revenue Recognition
Goods and services transferred at a point in time$6,723.2 $6,988.3 $8,911.4 $819.9 $23,442.8 
Goods and services transferred over time(2)
850.0 892.6 1,355.0 408.5 3,506.1 
$7,573.2 $7,880.9 $10,266.4 $1,228.4 $26,948.9 
Year Ended December 31, 2022
DomesticImportPremium Luxury
Corporate and other(1)
Total
Major Goods/Service Lines
New vehicle$3,409.1 $3,473.0 $4,872.3 $— $11,754.4 
Used vehicle3,022.3 2,652.7 3,499.8 487.0 9,661.8 
Parts and service1,092.7 1,050.9 1,448.6 508.4 4,100.6 
Finance and insurance, net460.3 494.1 453.8 29.1 1,437.3 
Other3.1 19.6 3.6 4.6 30.9 
$7,987.5 $7,690.3 $10,278.1 $1,029.1 $26,985.0 
Timing of Revenue Recognition
Goods and services transferred at a point in time$7,226.9 $6,896.2 $9,063.1 $703.7 $23,889.9 
Goods and services transferred over time(2)
760.6 794.1 1,215.0 325.4 3,095.1 
$7,987.5 $7,690.3 $10,278.1 $1,029.1 $26,985.0 
(1) “Corporate and other” is comprised of our non-franchised businesses, including AutoNation USA used vehicle stores, collision centers, parts distribution centers, auction operations, and AutoNation Mobile Service.
(2) Represents revenue recognized during the period for automotive repair and maintenance services.
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction The following table includes estimated revenue expected to be recognized in the future related to VCP performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period.
Revenue Expected to Be Recognized by Period
TotalNext 12 Months13 - 36 Months37 - 60 Months
Revenue expected to be recognized on VCP contracts sold as of period end
$112.0 $39.0 $54.4 $18.6 
Contract Assets and Liabilities
The following table provides the balances at December 31 of our receivables from contracts with customers and our current and long-term contract assets and contract liabilities:
202420232022
Receivables from contracts with customers, net$774.0 $762.0 $634.5 
Contract Asset (Current)$20.4 $23.1 $27.7 
Contract Asset (Long-Term)$2.8 $3.2 $8.6 
Contract Liability (Current)$43.9 $42.5 $41.8 
Contract Liability (Long-Term)$72.9 $70.6 $66.6 
The change in the balances of our contract assets and contract liabilities primarily result from the timing differences between our performance and the customer’s payment, as well as changes in the estimated transaction price related to variable consideration for performance obligations satisfied in previous periods. The following table presents revenue recognized during the year from amounts included in the contract liability balance at the beginning of the period and adjustments to revenue related to performance obligations satisfied in previous periods:
202420232022
Amounts included in contract liability at the beginning of the period$37.1 $35.0 $33.6 
Performance obligations satisfied in previous periods$0.8 $— $2.1 
Other significant changes include contract assets reclassified to receivables of $23.8 million during 2024 and $29.1 million in 2023.
v3.25.0.1
AutoNation Finance Income (Loss) (Tables)
 12 Months Ended
Dec. 31, 2024
AutoNation Finance Income (Loss) [Abstract]  
AutoNation Finance Income (Loss) The following table presents the components of AutoNation Finance income (loss):
20242023
2022(1)
Interest margin:
Interest and fee income $118.4 $84.0 $20.6 
Interest expense (39.8)(20.8)(4.7)
Total interest margin78.6 63.2 15.9 
Provision for credit losses(57.5)(45.9)(44.0)
Total interest margin after provision for loan losses
21.1 17.3 (28.1)
Direct expenses(2)
(37.8)(39.3)(9.5)
Gain on sale of auto loans receivable 7.4 8.1 — 
AutoNation Finance income (loss)
$(9.3)$(13.9)$(37.6)
(1) Reflects activity that occurred after the acquisition of CIG Financial on October 1, 2022. Provision for credit losses includes initial credit loss expense of $34.2 million associated with the auto loans portfolio acquired as part of the acquisition.
(2) Direct expenses are comprised primarily of compensation expenses and loan administration costs incurred by our auto finance company.
v3.25.0.1
Earnings Per Share (Tables)
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Basic and Diluted EPS The following table presents the calculation of basic and diluted EPS:
 202420232022
Net income from continuing operations
$692.2 $1,020.2 $1,377.7 
Income (loss) from discontinued operations, net of income taxes
— 0.9 (0.3)
Net income
$692.2 $1,021.1 $1,377.4 
Basic weighted average common shares outstanding40.5 44.6 56.3 
Dilutive effect of unvested RSUs and stock options0.4 0.3 0.4 
Diluted weighted average common shares outstanding40.9 44.9 56.7 
Basic EPS amounts(1):
Continuing operations
$17.09 $22.87 $24.47 
Discontinued operations
$— $0.02 $(0.01)
Net income
$17.09 $22.89 $24.47 
Diluted EPS amounts(1):
Continuing operations
$16.92 $22.72 $24.30 
Discontinued operations
$— $0.02 $(0.01)
Net income
$16.92 $22.74 $24.29 
(1) EPS amounts are calculated discretely and, therefore, may not add up to the total due to rounding.
Anti-Dilutive Equity Instruments Excluded From The Computation Of Diluted Earnings Per Share
In June 2024, we experienced an outage of our dealer management system provided by CDK Global, which is used to support our dealership operations, including our sales, service, inventory, customer relationship management, and accounting functions. Access to core functions of this system was restored by the end of June 2024, and certain ancillary systems and integrations were restored by the end of July 2024, with residual impacts resolved by the end of the third quarter 2024. As a result, our results of operations and earnings per share were negatively impacted by lost income from the disruption to our operations and one-time compensation costs paid to commission-based associates to ensure business continuity.
v3.25.0.1
Receivables, Net (Tables)
 12 Months Ended
Dec. 31, 2024
Receivables [Abstract]  
Schedule of Accounts Receivables
The components of receivables, net of allowances for expected credit losses, at December 31 are as follows:
20242023
Contracts-in-transit and vehicle receivables$560.2 $553.8 
Trade receivables168.5 173.2 
Manufacturer receivables267.1 240.5 
Income taxes receivable (see Note 14)
— 11.1 
Other73.8 63.9 
1,069.6 1,042.5 
Less: allowances for expected credit losses(3.3)(2.1)
Receivables, net$1,066.3 $1,040.4 
v3.25.0.1
Auto Loans Receivable (Tables)
 12 Months Ended
Dec. 31, 2024
Receivables [Abstract]  
Auto Loans Receivable
The components of auto loans receivable, net of third-party unearned discounts and allowances for expected credit losses, at December 31, are as follows:
20242023
Total auto loans receivable$1,103.8 $451.2 
Accrued interest and fees8.2 4.8 
Deferred loan origination costs4.2 1.6 
Less: unearned discounts(4.3)(8.9)
Less: allowances for expected credit losses(54.8)(46.3)
Auto loans receivable, net$1,057.1 $402.4 
Financing Receivable Credit Quality Indicators
The following table presents auto loans receivable as of December 31, 2024 and 2023, disaggregated by major credit program tier, in descending order of highest likelihood of repayment:
Fiscal Year of Origination
As of December 31, 2024
Weighted Average FICO Score
20242023202220212020Prior to 2020Total
Credit Program Tier(1):
Palladium
734$194.0 $— $— $— $— $— $194.0 
Rhodium
702147.6 16.9 0.1 — — — 164.6 
Platinum651525.1 82.3 1.7 4.0 1.0 0.1 614.2 
Gold62364.9 25.0 1.3 7.3 1.6 0.1 100.2 
Silver5740.3 13.4 1.2 5.4 1.2 0.1 21.6 
Bronze5510.1 4.0 0.2 2.8 0.6 — 7.7 
Copper562— 0.2 — 1.1 0.2 — 1.5 
Total auto loans receivable$932.0 $141.8 $4.5 $20.6 $4.6 $0.3 $1,103.8 
Current-period gross write-offs$7.9 $26.6 $14.8 $8.3 $2.1 $0.8 $60.5 
Fiscal Year of Origination
As of December 31, 2023
Weighted Average FICO Score
20232022202120202019Prior to 2019Total
Credit Program Tier(1):
Rhodium
701$27.6 $0.1 $— $— $— $— $27.7 
Platinum644136.3 14.7 8.2 3.3 3.1 0.5 166.1 
Gold61264.3 35.9 18.5 6.8 4.5 0.8 130.8 
Silver58350.2 33.0 16.2 5.2 2.8 0.3 107.7 
Bronze5566.7 0.7 6.0 1.5 0.1 — 15.0 
Copper5580.3 0.2 2.8 0.5 0.1 — 3.9 
Total auto loans receivable$285.4 $84.6 $51.7 $17.3 $10.6 $1.6 $451.2 
(1) Classified based on credit grade assigned when customer was initially approved for financing.
Financing Receivable, Allowance for Credit Loss
The following is a rollforward of our allowance for expected credit losses for auto loans receivable for the years ended December 31, 2024 and 2023:
20242023
Balance as of beginning of year$46.3 $57.5 
Provision for credit losses
54.7 45.9 
Write-offs(60.5)(68.3)
Recoveries(1)
26.0 27.3 
Sold loans(11.7)(16.1)
Balance as of end of year$54.8 $46.3 
(1) Includes proceeds from the recovery of vehicle collateral, net of costs incurred.
Financing Receivable, Past Due The following table presents past due auto loans receivable, as of December 31, 2024 and 2023:
Age Analysis of Past-Due Financial Assets as of December 31,
20242023
31-60 Days$20.6 $20.7 
61-90 Days5.5 5.4 
Greater than 90 Days2.7 3.1 
Total Past Due$28.8 $29.2 
Current1,075.0 422.0 
Total$1,103.8 $451.2 
v3.25.0.1
Inventory and Vehicle Floorplan Payable (Tables)
 12 Months Ended
Dec. 31, 2024
Inventory And Vehicle Floorplan Payable [Abstract]  
Components Of Inventory
The components of inventory at December 31 are as follows:
20242023
New vehicles$2,341.4 $1,948.6 
Used vehicles754.1 815.3 
Parts, accessories, and other264.5 269.5 
Inventory
$3,360.0 $3,033.4 
Components Of Vehicle Floorplan Payable
The components of vehicle floorplan payable at December 31 are as follows:
20242023
Vehicle floorplan payable - trade$2,216.2 $1,760.0 
Vehicle floorplan payable - non-trade1,493.5 1,622.4 
Vehicle floorplan payable
$3,709.7 $3,382.4 
v3.25.0.1
Property and Equipment, Net (Tables)
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net
A summary of property and equipment, net, at December 31 is as follows:
20242023
Land$1,523.2 $1,539.5 
Buildings and improvements3,004.7 2,898.1 
Furniture, fixtures, and equipment1,583.2 1,486.7 
6,111.1 5,924.3 
Less: accumulated depreciation and amortization(2,319.2)(2,132.7)
Property and equipment, net$3,791.9 $3,791.6 
v3.25.0.1
Goodwill and Intangible Assets, Net (Tables)
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets, Net
Goodwill and intangible assets, net, at December 31 consisted of the following:
20242023
Goodwill$1,452.9 $1,465.8 
Franchise rights - indefinite-lived$861.2 $876.2 
Other intangible assets68.0 68.0 
929.2 944.2 
Less: accumulated amortization(23.3)(16.4)
Intangible assets, net$905.9 $927.8 
Goodwill Allocated to Reporting Units and Changes in Carrying Amounts
Goodwill allocated to our reporting units and changes in the carrying amount of goodwill for the years ended December 31, 2024 and 2023, were as follows:
DomesticImportPremium
Luxury
AN Finance
OtherConsolidated
Balance as of January 1, 2023
Goodwill (1)
$376.3 $518.7 $739.5 $78.3 $1,535.6 $3,248.4 
Accumulated impairment losses (1)
(140.0)— (257.4)— (1,530.9)(1,928.3)
236.3 518.7 482.1 78.3 4.7 1,320.1 
Acquisitions, dispositions, and other adjustments, net (2)
(1.8)7.9 — 0.1 139.5 145.7 
Balance as of December 31, 2023
Goodwill (1)
374.5 526.6 739.5 78.4 1,675.1 3,394.1 
Accumulated impairment losses (1)
(140.0)— (257.4)— (1,530.9)(1,928.3)
234.5 526.6 482.1 78.4 144.2 1,465.8 
Acquisitions, dispositions, and other adjustments, net (2)
(11.1)(2.3)(0.4)— 0.9 (12.9)
Balance as of December 31, 2024
Goodwill (1)
363.4 524.3 739.1 78.4 1,676.0 3,381.2 
Accumulated impairment losses (1)
(140.0)— (257.4)— (1,530.9)(1,928.3)
$223.4 $524.3 $481.7 $78.4 $145.1 $1,452.9 
(1)    Gross goodwill balance and accumulated impairment losses reflected in “Other” include $1.47 billion associated with our single reporting unit (prior to September 30, 2008, our reporting unit reporting structure was comprised of a single reporting unit). Gross goodwill balance reflected in “Other” also includes amounts associated with the Collision Center, Parts Center, and AutoNation Mobile Service reporting units, as applicable in a given period.
(2)    Includes amounts reclassified to held for sale and related adjustments, which are presented in Other Current Assets in our Consolidated Balance Sheets as of period end.
v3.25.0.1
Leases (Tables)
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Lease Assets and Lease Liabilities
LeasesClassification20242023
Assets
Operating
Operating lease assets
$391.1 $392.1 
Finance
Property and equipment, net and Other assets
325.1 351.1 
Total right-of-use assets$716.2 $743.2 
Liabilities
Current
Operating
Other current liabilities
$48.1 $41.2 
Finance
Current maturities of long-term debt and Vehicle floorplan payable - trade
94.1 46.9 
Noncurrent
Operating
Noncurrent operating lease liabilities
356.9 363.2 
Finance
Long-term debt, net of current maturities
281.3 349.6 
Total lease liabilities$780.4 $800.9 
Lease Term and Discount Rate20242023
Weighted average remaining lease term
Operating11 years12 years
Finance12 years13 years
Weighted-average discount rate
Operating5.79 %5.71 %
Finance4.40 %4.43 %
Net Lease Cost
Lease costClassification20242023
Operating lease costSelling, general, and administrative expenses$71.1 $62.3 
Finance lease cost:
Amortization of ROU assetsDepreciation and amortization23.6 24.6 
Interest on lease liabilities
Other interest expense and Floorplan interest expense
17.0 17.8 
Short-term lease cost (1)
Selling, general, and administrative expenses13.0 11.3 
Variable lease costSelling, general, and administrative expenses13.8 12.0 
Sublease incomeSelling, general, and administrative expenses(4.6)(3.6)
Net lease cost$133.9 $124.4 
(1) Includes leases with a term of one month or less.
Cash Flow Information, Lessee
Other Information20242023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases$68.0 $61.4 
Operating cash flows from finance leases (1)
$62.4 $63.7 
Financing cash flows from finance leases$13.0 $12.3 
Supplemental noncash information on adjustments to right-of-use assets, including right-of-use assets obtained in exchange for new:
Operating lease liabilities$45.9 $111.7 
Finance lease liabilities$38.0 $54.7 
(1) Includes the interest component of payments made on finance leases as well as principal payments on vehicle floorplan payables with trade lenders for certain service loaner vehicle leases.
Maturity of Lease Liabilities
Maturity of Lease LiabilitiesOperating LeasesFinance Leases
Year ending December 31,
2025$65.3 $106.3 
202661.4 24.3 
202753.3 25.5 
202849.6 25.3 
202948.2 24.9 
Thereafter293.5 259.2 
Total lease payments571.3 465.5 
Less: interest(166.3)(90.1)
Present value of lease liabilities$405.0 $375.4 
Maturity of Lease Liabilities
Maturity of Lease LiabilitiesOperating LeasesFinance Leases
Year ending December 31,
2025$65.3 $106.3 
202661.4 24.3 
202753.3 25.5 
202849.6 25.3 
202948.2 24.9 
Thereafter293.5 259.2 
Total lease payments571.3 465.5 
Less: interest(166.3)(90.1)
Present value of lease liabilities$405.0 $375.4 
v3.25.0.1
Debt (Tables)
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Long-term debt
Non-vehicle long-term debt at December 31 consisted of the following:
Debt DescriptionMaturity DateInterest Payable20242023
3.5% Senior Notes
November 15, 2024May 15 and November 15$— $450.0 
4.5% Senior Notes
October 1, 2025April 1 and October 1450.0 450.0 
3.8% Senior Notes
November 15, 2027May 15 and November 15300.0 300.0 
1.95% Senior Notes
August 1, 2028February 1 and August 1400.0 400.0 
4.75% Senior Notes
June 1, 2030June 1 and December 1 500.0 500.0 
2.4% Senior Notes
August 1, 2031February 1 and August 1450.0 450.0 
3.85% Senior Notes
March 1, 2032March 1 and September 1700.0 700.0 
Revolving credit facilityJuly 18, 2028Monthly— — 
Finance leases and other debtVarious dates through 2041350.0 362.2 
3,150.0 3,612.2 
Less: unamortized debt discounts and debt issuance costs(17.9)(21.9)
Less: current maturities(518.5)(462.4)
Long-term debt, net of current maturities$2,613.6 $3,127.9 
Aggregate maturities of non-vehicle long-term debt
At December 31, 2024, aggregate maturities of non-vehicle long-term debt were as follows:
Year Ending December 31:
2025$519.0 
202614.1 
2027315.9 
2028416.4 
202916.8 
Thereafter1,867.8 
$3,150.0 
Schedule of non-recourse debt
Non-recourse debt outstanding at December 31, 2024 and 2023, consisted of the following:
20242023
Warehouse facilities$801.5 $209.4 
Term securitization debt of consolidated VIEs24.7 50.5 
826.2 259.9 
Less: unamortized debt discounts and debt issuance costs(0.2)(1.5)
Less: current maturities (28.3)(8.8)
Non-recourse debt, net of current maturities $797.7 $249.6 
v3.25.0.1
Chargeback Liability (Tables)
 12 Months Ended
Dec. 31, 2024
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]  
Rollforward of Estimated Chargeback Liability The following is a rollforward of our estimated chargeback liability for each of the three years presented in our Consolidated Financial Statements:
202420232022
Balance - January 1$200.4 $197.0 $171.0 
Add: Provisions194.8 168.0 192.3 
Deduct: Chargebacks(185.9)(164.6)(166.3)
Balance - December 31$209.3 $200.4 $197.0 
v3.25.0.1
Self-Insurance (Tables)
 12 Months Ended
Dec. 31, 2024
Insurance [Abstract]  
Current and long-term self-insurance liabilities
At December 31, 2024 and 2023, current and long-term self-insurance liabilities were included in Other Current Liabilities and Other Liabilities, respectively, in the Consolidated Balance Sheets as follows:
20242023
Self-insurance - current portion$52.2 $42.3 
Self-insurance - long-term portion68.0 60.0 
Total self-insurance liabilities
$120.2 $102.3 
v3.25.0.1
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Components of Income Tax Provision From Continuing Operations
The components of the income tax provision from continuing operations for the years ended December 31 are as follows:
202420232022
Current:
Federal$185.8 $245.6 $368.7 
State45.1 64.9 87.4 
Federal and state deferred(3.8)19.0 0.8 
Change in valuation allowance, net1.3 1.0 0.2 
Adjustments and settlements(3.9)(0.5)(1.3)
Income tax provision$224.5 $330.0 $455.8 
Reconciliation of Income Tax Provision
A reconciliation of the income tax provision calculated using the statutory federal income tax rate to our income tax provision from continuing operations for the years ended December 31 is as follows:
2024%2023%2022%
Income tax provision at statutory rate
$192.5 21.0 $283.5 21.0 $385.0 21.0 
Other non-deductible expenses, net4.5 0.5 0.5 — 7.9 0.4 
State income taxes, net of federal benefit
35.5 3.9 53.4 4.0 72.8 4.0 
232.5 25.4 337.4 25.0 465.7 25.4 
Change in valuation allowance, net1.3 0.1 1.0 0.1 0.2 — 
Adjustments and settlements(3.9)(0.4)(0.5)— (1.3)(0.1)
Federal and state tax credits(2.9)(0.3)(2.8)(0.2)(4.5)(0.2)
Other, net(2.5)(0.3)(5.1)(0.5)(4.3)(0.2)
Income tax provision$224.5 24.5 $330.0 24.4 $455.8 24.9 
Deferred Income Tax Asset and Liability Components
Deferred income tax asset and liability components at December 31 are as follows:
20242023
Deferred income tax assets:
Inventory$32.4 $31.9 
Receivable allowances0.7 0.4 
Warranty, chargeback, and self-insurance liabilities78.6 72.6 
Other accrued liabilities32.7 30.7 
Deferred compensation33.9 31.7 
Stock-based compensation8.9 9.0 
Lease liabilities 159.6 162.9 
Loss carryforwards— federal and state
19.1 22.7 
Software development costs
25.1 15.4 
Other, net4.2 5.5 
Total deferred income tax assets395.2 382.8 
Valuation allowance(8.3)(7.1)
Deferred income tax assets, net of valuation allowance386.9 375.7 
Deferred income tax liabilities:
Long-lived assets (intangible assets and property)(312.9)(298.7)
Investments - unrealized appreciation(1.1)(2.8)
Right-of-use assets(145.0)(150.2)
Other, net(11.0)(9.0)
Total deferred income tax liabilities(470.0)(460.7)
Net deferred income tax liabilities$(83.1)$(85.0)
Schedule of Unrecognized Tax Benefits Roll Forward
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
202420232022
Balance at January 1$5.1 $5.5 $6.9 
Additions based on tax positions related to the current year— — — 
Additions for tax positions of prior years2.5 1.2 0.6 
Reductions for tax positions of prior years— — — 
Reductions for expirations of statute of limitations(1.7)(1.6)(1.4)
Settlements— — (0.6)
Balance at December 31$5.9 $5.1 $5.5 
v3.25.0.1
Shareholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2024
Stockholders' Equity Note [Abstract]  
Shares Repurchased Under Share Repurchase Program
A summary of shares repurchased under our stock repurchase program authorized by our Board of Directors follows:
202420232022
Shares repurchased2.9 6.4 15.6 
Aggregate purchase price(1)
$460.0 $863.6 $1,710.2 
Average purchase price per share$160.86 $134.68 $109.86 
(1) Excludes the excise tax accrual imposed under the Inflation Reduction Act of $4.2 million for 2024 and $8.1 million for 2023.
Common Stock Issued With The Exercise of Stock Options
A summary of shares of common stock issued in connection with the exercise of stock options follows:
202420232022
Shares issued (in actual number of shares)
8,68537,99671,030
Proceeds from the exercise of stock options$0.5 $1.9 $3.4 
Average exercise price per share$58.08 $50.34 $47.94 
Shares Issued and Shares Surrendered to Satisfy Tax Withholdings in Connection With Restricted Stock Units
The following table presents a summary of shares of common stock issued in connection with the settlement of RSUs, as well as shares surrendered to AutoNation to satisfy tax withholding obligations in connection with the settlement of RSUs:
(In actual number of shares)
202420232022
Shares issued0.4 0.6 0.8 
Shares surrendered to AutoNation to satisfy tax withholding obligations
0.1 0.2 0.3 
v3.25.0.1
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Restricted Stock Unit Activity
The following table summarizes information about vested and nonvested RSUs for 2024:
 RSUs
 SharesWeighted-Average
Grant Date
Fair Value
Nonvested at January 11.0 $108.26 
Granted 0.3 $171.84 
Vested(0.3)$85.56 
Forfeited(0.1)$138.69 
Nonvested at December 310.9 $140.18 
Stock-Based Compensation Expense and related Tax Benefit Recognized
The following table summarizes the total stock-based compensation expense related to RSUs recognized in Selling, General, and Administrative Expenses in the Consolidated Statements of Income and the total recognized tax benefit related thereto:
202420232022
Stock-based compensation expense
$36.5 $39.7 $31.5 
Tax benefit related to stock-based compensation expense$4.1 $4.5 $4.0 
Weighted Average Grant-Date Fair Value of Restricted Stock Units Granted and Total Fair Value of Restricted Stock Units Vested
The weighted average grant-date fair value of RSUs and total fair value of RSUs vested are summarized in the following table:
202420232022
Weighted average grant-date fair value of RSUs granted
$171.84 $139.11 $112.66 
Total fair value of RSUs vested (in millions)
$54.8 $76.0 $85.7 
v3.25.0.1
Cash Flow Information (Tables)
 12 Months Ended
Dec. 31, 2024
Supplemental Cash Flow Information [Abstract]  
Reconciliation of cash and cash equivalents The following table provides a reconciliation
of cash and cash equivalents reported on our Consolidated Balance Sheets to the total amounts reported on our Consolidated Statements of Cash Flows:
Years Ended December 31,
20242023
Cash and cash equivalents $59.8 $60.8 
Restricted cash included in Other Current Assets41.7 14.3 
Restricted cash included in Other Assets 1.9 1.9 
Total cash, cash equivalents, and restricted cash$103.4 $77.0 
v3.25.0.1
Financial Instruments and Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Unrealized gains recognized on equity securities
The following is the portion of unrealized gains recognized during the years ended December 31, 2024 and 2023, related to equity securities still held at December 31:
20242023
Net gains (losses) recognized during the period on equity securities
$(7.0)$5.2 
Less: Net gains recognized during the period on equity securities sold during the period— — 
Unrealized gains (losses) recognized during the reporting period on equity securities still held at the reporting date
$(7.0)$5.2 
Summary Of Carrying Values And Fair Values Of Fixed Rate Debt A summary of the aggregate carrying values and fair values of our senior unsecured notes at December 31 is as follows:
20242023
Carrying value$2,782.1 $3,228.1 
Fair value$2,578.6 $2,979.3 
Nonfinancial Assets Measured and Recorded At Fair Value On A Nonrecurring Basis
The following table presents assets measured and recorded at fair value on a nonrecurring basis during the years ended December 31, 2024 and 2023:
20242023
DescriptionFair Value Measurements Using Significant Unobservable Inputs (Level 3)Gain/(Loss)Fair Value Measurements Using Significant Unobservable Inputs (Level 3)Gain/(Loss)
Equity investments
$48.3 $(8.4)$— $— 
Franchise rights and other intangible assets
$— $(12.5)$— $(2.3)
Long-lived assets held and used$— $(9.3)$— $(2.9)
Fair Value Measurement Inputs and Valuation Techniques
Quantitative Information about Level 3 Fair Value Measurements
Description
Fair Value at December 31, 2024
Valuation TechniqueUnobservable InputRange (Average)
Franchise rights$— Discounted cash flowWeighted average cost of capital10.0 %
Discount rate
13.5% - 15.0% (14.3%)
Long-term revenue growth rate2.0 %
Long-term pretax loss margin
2.7% - 6.4% (4.6%)
Contributory asset charges
5.5% - 6.4% (6.0%)
v3.25.0.1
Segment Information (Tables)
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Reportable Segment Information
The following tables provide segment revenues and segment expenses that align with the segment-level information that is regularly provided to the chief operating decision maker, as well as a reconciliation of reportable segment income to our income from continuing operations before income taxes:
Year Ended December 31, 2024
Domestic
Import
Premium Luxury
AutoNation Finance
Total
Revenues from external customers:(1)
Franchised dealerships
$7,140.3 $8,156.9 $10,139.9 $25,437.1 
Corporate and other
1,328.3 
Total consolidated revenues 26,765.4 
Less segment expenses:
Cost of sales:
New vehicle
3,389.2 4,066.2 4,816.8 
Used vehicle
1,963.9 2,029.9 2,685.2 
Parts and service
632.1 609.5 784.2 
Other
5.6 13.7 0.1 
Total cost of sales
5,990.8 6,719.3 8,286.3 
Selling, general and administrative expenses:
Compensation
497.2 575.8 648.4 
Advertising
68.7 83.8 54.8 
Store overhead
200.5 217.7 306.5 
Total selling, general, and administrative expenses
766.4 877.3 1,009.7 
Depreciation and amortization44.3 43.9 79.6 
Floorplan interest expense
84.0 39.9 88.7 
Other income(2)
(0.1)(0.1)(0.1)
Franchised dealerships - segment income
$254.9 $476.6 $675.7 1,407.2 
AutoNation Finance:
Interest fee income
118.4 
Interest expense
(39.8)
Provision for credit losses
(57.5)
Direct expenses(3)
(37.8)
Gain on sale of auto loans receivable
7.4 
AutoNation Finance income (loss)
$(9.3)(9.3)
Corporate and other
(311.3)
Other interest expense
(179.7)
Other income, net
9.8 
Income from continuing operations before income taxes
$916.7 
(1) See Note 2 of the Notes to Consolidated Financial Statements for detail of revenue by segment.
(2) Other income includes net gains on asset dispositions and legal settlements.
(3) Direct expenses are comprised primarily of compensation expense and loan administration costs incurred by our auto finance company.
Year Ended December 31, 2023
Domestic
Import
Premium Luxury
AutoNation Finance
Total
Revenues from external customers:(1)
Franchised dealerships
$7,573.2 $7,880.9 $10,266.4 $25,720.5 
Corporate and other
1,228.4 
Total consolidated revenues26,948.9 
Less segment expenses:
Cost of sales:
New vehicle
3,301.6 3,644.3 4,759.6 
Used vehicle
2,303.5 2,073.3 2,803.3 
Parts and service
667.4 591.9 752.1 
Other
1.5 24.3 1.0 
Total cost of sales
6,274.0 6,333.8 8,316.0 
Selling, general and administrative expenses:
Compensation
515.2 578.6 646.2 
Advertising
65.6 76.1 55.0 
Store overhead
202.2 196.8 281.9 
Total selling, general, and administrative expenses
783.0 851.5 983.1 
Depreciation and amortization43.6 39.2 76.9 
Floorplan interest expense
57.3 21.5 53.9 
Other income(2)
(0.1)(0.1)— 
Franchised dealerships - segment income
$415.4 $635.0 $836.5 1,886.9 
AutoNation Finance:
Interest fee income
84.0 
Interest expense
(20.8)
Provision for credit losses
(45.9)
Direct expenses(3)
(39.3)
Gain on sale of auto loans receivable
8.1 
AutoNation Finance income (loss)
$(13.9)(13.9)
Corporate and other
(365.8)
Other interest expense
(181.4)
Other income, net
24.4 
Income from continuing operations before income taxes
$1,350.2 
(1) See Note 2 of the Notes to Consolidated Financial Statements for detail of revenue by segment.
(2) Other income includes net gains on asset dispositions and legal settlements.
(3) Direct expenses are comprised primarily of compensation expense and loan administration costs incurred by our auto finance company.
Year Ended December 31, 2022
Domestic
Import
Premium Luxury
AutoNation Finance
Total
Revenues from external customers:(1)
Franchised dealerships
$7,987.5 $7,690.3 $10,278.1 $25,955.9 
Corporate and other
1,029.1 
Total consolidated revenues26,985.0 
Less segment expenses:
Cost of sales:
New vehicle
3,094.3 3,054.3 4,239.5 
Used vehicle
2,878.2 2,486.8 3,311.6 
Parts and service
621.7 549.7 705.3 
Other
1.7 18.2 2.9 
Total cost of sales
6,595.9 6,109.0 8,259.3 
Selling, general and administrative expenses:
Compensation
535.2 576.8 668.0 
Advertising
50.7 61.1 38.0 
Store overhead
188.3 168.9 253.9 
Total selling, general, and administrative expenses
774.2 806.8 959.9 
Depreciation and amortization39.1 35.6 74.9 
Floorplan interest expense
14.4 4.8 15.0 
Other income(2)
(1.4)(0.1)(0.1)
Franchised dealerships - segment income
$565.3 $734.2 $969.1 2,268.6 
AutoNation Finance:
Interest fee income
20.6 
Interest expense
(4.7)
Provision for credit losses
(44.0)
Direct expenses(3)
(9.5)
AutoNation Finance income (loss)
$(37.6)(37.6)
Corporate and other
(247.9)
Other interest expense
(134.9)
Other loss, net
(14.7)
Income from continuing operations before income taxes
$1,833.5 
(1) See Note 2 of the Notes to Consolidated Financial Statements for detail of revenue by segment.
(2) Other income includes net gains on asset dispositions and legal settlements.
(3) Direct expenses are comprised primarily of compensation expense and loan administration costs incurred by our auto finance company.
The following tables provide information on floorplan interest expense, depreciation and amortization, capital expenditures, and total assets:
Year Ended December 31, 2024
DomesticImportPremium Luxury
AutoNation Finance
Corporate and otherTotal
Floorplan interest expense$84.0 $39.9 $88.7 $— $6.3 $218.9 
Depreciation and amortization$44.3 $43.9 $79.6 $— $72.9 $240.7 
Capital expenditures(1)
$46.5 $85.7 $56.8 $1.1 $117.9 $308.0 
Segment assets(2)
$2,407.8 $2,184.8 $3,829.9 $1,118.3 $3,460.9 $13,001.7 
Year Ended December 31, 2023
DomesticImportPremium Luxury
AutoNation Finance
Corporate and otherTotal
Floorplan interest expense$57.3 $21.5 $53.9 $— $12.0 $144.7 
Depreciation and amortization$43.6 $39.2 $76.9 $— $60.8 $220.5 
Capital expenditures(1)
$102.0 $106.6 $69.4 $0.5 $137.5 $416.0 
Segment assets(2)
$2,507.7 $2,034.6 $3,506.8 $430.5 $3,500.4 $11,980.0 
Year Ended December 31, 2022
DomesticImportPremium Luxury
AutoNation Finance
Corporate and otherTotal
Floorplan interest expense$14.4 $4.8 $15.0 $— $7.2 $41.4 
Depreciation and amortization$39.1 $35.6 $74.9 $— $50.7 $200.3 
Capital expenditures(1)
$32.8 $70.1 $126.5 $0.1 $106.7 $336.2 
Segment assets(2)
$1,974.3 $1,555.6 $2,996.8 $337.8 $3,195.2 $10,059.7 
(1) Includes accrued construction in progress and excludes property associated with leases entered during the year.
(2) “Corporate and other” assets include goodwill and franchise rights.
v3.25.0.1
Multiemployer Pension Plans (Tables)
 12 Months Ended
Dec. 31, 2024
Multiemployer Plan [Abstract]  
Multiemployer Plans
Pension Protection Act Zone Status
Contributions of AutoNation
($ in millions) (1)
Expiration Date of Collective-Bargaining Agreement
Pension Fund
EIN/Pension Plan Number
20242023202420232022
Surcharge Imposed (2)
Automotive Industries Pension Plan94-1133245 - 001RedRed$1.2 $1.2 $1.3 Yes(3)
IAM National Pension Fund51-6031295- 002RedRed0.2 0.2 0.2 Yes(4)
Other funds— 0.1 0.1 
Total contributions$1.4 $1.5 $1.6 
(1)    Our stores were not listed in the Automotive Industries Pension Plan’s or IAM National Pension Fund’s Form 5500 as providing more than 5% of the total contributions for the plan years ended December 31, 2023 or 2022.
(2)    We paid surcharges to the Automotive Industries Pension Plan of $0.6 million, $0.6 million, and $0.6 million in 2024, 2023, and 2022 respectively. Surcharges to the IAM National Pension Fund were de minimis.
(3)    We are party to three collective-bargaining agreements that require contributions to the Automotive Industries Pension Plan each with an expiration date of June 30, 2027.
(4)    We are party to one collective-bargaining agreement that requires contributions to the IAM National Pension Fund with an expiration date of August 31, 2025.
v3.25.0.1
Description of Business and Summary of Significant Accounting Policies (Organization and Business, Inventory) (Details)
 12 Months Ended
Dec. 31, 2024
store
franchises
brand
Product Information [Line Items]  
Owned and operated new vehicle franchises | franchises 325
Number of brands | brand 31
Percentage of new vehicle sales from core brands (percent) 88.00%
Dealerships [Member]  
Product Information [Line Items]  
Number of stores 243
Collision Center [Member]  
Product Information [Line Items]  
Number of stores 52
AutoNation USA Stores [Member]  
Product Information [Line Items]  
Number of stores 24
Automotive Auction Operations [Member]  
Product Information [Line Items]  
Number of stores 4
Parts Distribution Centers [Member]  
Product Information [Line Items]  
Number of stores 3
v3.25.0.1
Description of Business and Summary of Significant Accounting Policies (Property and Equipment Net) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Reported Value Measurement [Member] | Continuing Operations [Member]    
Property, Plant and Equipment [Line Items]    
Assets held for sale in continuing operations $ 23.6 $ 21.3
Buildings and improvements [Member] | Minimum [Member]    
Property, Plant and Equipment [Line Items]    
Property and equipment estimated useful life 5 years  
Buildings and improvements [Member] | Maximum [Member]    
Property, Plant and Equipment [Line Items]    
Property and equipment estimated useful life 40 years  
Furniture, fixtures, and equipment [Member] | Minimum [Member]    
Property, Plant and Equipment [Line Items]    
Property and equipment estimated useful life 3 years  
Furniture, fixtures, and equipment [Member] | Maximum [Member]    
Property, Plant and Equipment [Line Items]    
Property and equipment estimated useful life 10 years  
v3.25.0.1
Description of Business and Summary of Significant Accounting Policies (Goodwill and Other Intangible Assets) (Details) - USD ($)
 3 Months Ended 4 Months Ended 12 Months Ended
Dec. 31, 2024
Apr. 30, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Goodwill and Intangible Assets [Line Items]          
Franchise agreements, minimal contractual terms (in years)     1 year    
Franchise rights impairment     $ 12,500,000 $ 0 $ 0
Franchise Rights          
Goodwill and Intangible Assets [Line Items]          
Franchise rights impairment   $ 0   $ 0  
Minimum [Member]          
Goodwill and Intangible Assets [Line Items]          
Other intangibles, useful life 3 years   3 years    
Maximum [Member]          
Goodwill and Intangible Assets [Line Items]          
Other intangibles, useful life 30 years   30 years    
Nonrecurring [Member] | Franchise Rights          
Goodwill and Intangible Assets [Line Items]          
Franchise rights impairment $ 12,500,000   $ 12,500,000    
v3.25.0.1
Description of Business and Summary of Significant Accounting Policies (Employee Savings Plans) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]      
401(k) plan employer matching contribution $ 25.3 $ 24.5 $ 19.9
Deferred Compensation Arrangement with Individual, by Type of Compensation, Pension and Other Postretirement Benefits [Member]      
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]      
Matching contributions to employee participants $ 2.0 2.1 $ 1.3
Deferred compensation arrangement with individual matching contribution annual vesting portion, year one 33.00%    
Employer discretionary contributions vesting periods (in years) 3 years    
Balances due to participants $ 139.5 $ 129.3  
Deferred compensation arrangement with individual matching contribution annual vesting years two and three 33.00%    
v3.25.0.1
Description of Business and Summary of Significant Accounting Policies (Revenue Recognition, Advertising) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Advertising [Abstract]      
Advertising Expense, net $ 255.5 $ 243.5 $ 184.3
Manufacturer advertising reimbursements $ 63.0 $ 61.3 $ 58.2
v3.25.0.1
Revenue Recognition Disaggregation of Revenue (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Disaggregation of Revenue [Line Items]      
Revenues $ 26,765.4 $ 26,948.9 $ 26,985.0
Transferred at Point in Time [Member]      
Disaggregation of Revenue [Line Items]      
Revenues 23,118.0 23,442.8 23,889.9
Transferred over Time [Member]      
Disaggregation of Revenue [Line Items]      
Revenues [1] 3,647.4 3,506.1 3,095.1
New Vehicle [Member]      
Disaggregation of Revenue [Line Items]      
Revenues 13,048.2 12,767.4 11,754.4
Used Vehicle [Member]      
Disaggregation of Revenue [Line Items]      
Revenues 7,719.9 8,198.5 9,661.8
Parts and Service [Member]      
Disaggregation of Revenue [Line Items]      
Revenues 4,614.6 4,533.7 4,100.6
Finance and Insurance, Net [Member]      
Disaggregation of Revenue [Line Items]      
Revenues 1,360.1 1,418.8 1,437.3
Product and Service, Other [Member]      
Disaggregation of Revenue [Line Items]      
Revenues 22.6 30.5 30.9
AN Reportable Segment, Domestic [Member]      
Disaggregation of Revenue [Line Items]      
Revenues 7,140.3 7,573.2 7,987.5
AN Reportable Segment, Domestic [Member] | Transferred at Point in Time [Member]      
Disaggregation of Revenue [Line Items]      
Revenues 6,285.7 6,723.2 7,226.9
AN Reportable Segment, Domestic [Member] | Transferred over Time [Member]      
Disaggregation of Revenue [Line Items]      
Revenues [1] 854.6 850.0 760.6
AN Reportable Segment, Domestic [Member] | New Vehicle [Member]      
Disaggregation of Revenue [Line Items]      
Revenues 3,527.1 3,525.0 3,409.1
AN Reportable Segment, Domestic [Member] | Used Vehicle [Member]      
Disaggregation of Revenue [Line Items]      
Revenues 2,057.5 2,428.4 3,022.3
AN Reportable Segment, Domestic [Member] | Parts and Service [Member]      
Disaggregation of Revenue [Line Items]      
Revenues 1,146.0 1,184.7 1,092.7
AN Reportable Segment, Domestic [Member] | Finance and Insurance, Net [Member]      
Disaggregation of Revenue [Line Items]      
Revenues 402.5 432.0 460.3
AN Reportable Segment, Domestic [Member] | Product and Service, Other [Member]      
Disaggregation of Revenue [Line Items]      
Revenues 7.2 3.1 3.1
AN Reportable Segment, Import [Member]      
Disaggregation of Revenue [Line Items]      
Revenues 8,156.9 7,880.9 7,690.3
AN Reportable Segment, Import [Member] | Transferred at Point in Time [Member]      
Disaggregation of Revenue [Line Items]      
Revenues 7,212.3 6,988.3 6,896.2
AN Reportable Segment, Import [Member] | Transferred over Time [Member]      
Disaggregation of Revenue [Line Items]      
Revenues [1] 944.6 892.6 794.1
AN Reportable Segment, Import [Member] | New Vehicle [Member]      
Disaggregation of Revenue [Line Items]      
Revenues 4,320.0 3,996.0 3,473.0
AN Reportable Segment, Import [Member] | Used Vehicle [Member]      
Disaggregation of Revenue [Line Items]      
Revenues 2,162.5 2,222.2 2,652.7
AN Reportable Segment, Import [Member] | Parts and Service [Member]      
Disaggregation of Revenue [Line Items]      
Revenues 1,194.7 1,150.1 1,050.9
AN Reportable Segment, Import [Member] | Finance and Insurance, Net [Member]      
Disaggregation of Revenue [Line Items]      
Revenues 470.9 490.1 494.1
AN Reportable Segment, Import [Member] | Product and Service, Other [Member]      
Disaggregation of Revenue [Line Items]      
Revenues 8.8 22.5 19.6
AN Reportable Segment, Premium Luxury [Member]      
Disaggregation of Revenue [Line Items]      
Revenues 10,139.9 10,266.4 10,278.1
AN Reportable Segment, Premium Luxury [Member] | Transferred at Point in Time [Member]      
Disaggregation of Revenue [Line Items]      
Revenues 8,703.6 8,911.4 9,063.1
AN Reportable Segment, Premium Luxury [Member] | Transferred over Time [Member]      
Disaggregation of Revenue [Line Items]      
Revenues [1] 1,436.3 1,355.0 1,215.0
AN Reportable Segment, Premium Luxury [Member] | New Vehicle [Member]      
Disaggregation of Revenue [Line Items]      
Revenues 5,201.1 5,246.4 4,872.3
AN Reportable Segment, Premium Luxury [Member] | Used Vehicle [Member]      
Disaggregation of Revenue [Line Items]      
Revenues 2,837.0 2,979.5 3,499.8
AN Reportable Segment, Premium Luxury [Member] | Parts and Service [Member]      
Disaggregation of Revenue [Line Items]      
Revenues 1,667.4 1,593.1 1,448.6
AN Reportable Segment, Premium Luxury [Member] | Finance and Insurance, Net [Member]      
Disaggregation of Revenue [Line Items]      
Revenues 434.1 446.2 453.8
AN Reportable Segment, Premium Luxury [Member] | Product and Service, Other [Member]      
Disaggregation of Revenue [Line Items]      
Revenues 0.3 1.2 3.6
Corporate Segment and Other Operating Segment [Member]      
Disaggregation of Revenue [Line Items]      
Revenues [2] 1,328.3 1,228.4 1,029.1
Corporate Segment and Other Operating Segment [Member] | Transferred at Point in Time [Member]      
Disaggregation of Revenue [Line Items]      
Revenues [2] 916.4 819.9 703.7
Corporate Segment and Other Operating Segment [Member] | Transferred over Time [Member]      
Disaggregation of Revenue [Line Items]      
Revenues [1],[2] 411.9 408.5 325.4
Corporate Segment and Other Operating Segment [Member] | New Vehicle [Member]      
Disaggregation of Revenue [Line Items]      
Revenues [2] 0.0 0.0 0.0
Corporate Segment and Other Operating Segment [Member] | Used Vehicle [Member]      
Disaggregation of Revenue [Line Items]      
Revenues [2] 662.9 568.4 487.0
Corporate Segment and Other Operating Segment [Member] | Parts and Service [Member]      
Disaggregation of Revenue [Line Items]      
Revenues [2] 606.5 605.8 508.4
Corporate Segment and Other Operating Segment [Member] | Finance and Insurance, Net [Member]      
Disaggregation of Revenue [Line Items]      
Revenues [2] 52.6 50.5 29.1
Corporate Segment and Other Operating Segment [Member] | Product and Service, Other [Member]      
Disaggregation of Revenue [Line Items]      
Revenues [2] $ 6.3 $ 3.7 $ 4.6
[1]
(2) Represents revenue recognized during the period for automotive repair and maintenance services.
[2]
(1) “Corporate and other” is comprised of our non-franchised businesses, including AutoNation USA used vehicle stores, collision centers, parts distribution centers, auction operations, and AutoNation Mobile Service.
v3.25.0.1
Revenue Recognition Revenue Remaining Performance Obligation, Expected Timing of Satisfaction (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Vehicle Care Program, contract term 5 years
Revenue expected to be recognized on VCP contracts sold as of period end $ 112.0
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period 1 year
Revenue expected to be recognized on VCP contracts sold as of period end $ 39.0
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period 2 years
Revenue expected to be recognized on VCP contracts sold as of period end $ 54.4
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period 2 years
Revenue expected to be recognized on VCP contracts sold as of period end $ 18.6
v3.25.0.1
Revenue Recognition Contract Assets and Liabilities (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenue Recognition [Abstract]      
Receivables from contracts with customers, net $ 774.0 $ 762.0 $ 634.5
Contract Asset (Current) 20.4 23.1 27.7
Contract Asset (Long-Term) 2.8 3.2 8.6
Contract Liability (Current) 43.9 42.5 41.8
Contract Liability (Long-Term) 72.9 70.6 66.6
Revenue amounts included in contract liability at the beginning of the period 37.1 35.0 33.6
Revenue for performance obligations satisfied in previous periods 0.8 0.0 $ 2.1
Contract assets reclassified to receivables $ 23.8 $ 29.1  
v3.25.0.1
Revenue Recognition Contract Costs (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Revenue Recognition [Abstract]    
Capitalized contract cost, amortization term 5 years  
Capitalized contract cost $ 11.0 $ 10.4
Capitalized Contract Cost, Amortization $ 4.0 $ 4.0
v3.25.0.1
AutoNation Finance Income (Loss) (Details) - USD ($)
$ in Millions
 12 Months Ended
Oct. 01, 2022
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
AutoNation Finance Income [Line Items]        
Gain on sale of auto loans receivable   $ 7.4 $ 8.1 $ 0.0
AutoNation finance income (loss)   (9.3) (13.9) (37.6)
Provision for credit losses on auto loans receivable   54.7 45.9 43.8
Sold loans, allowance for expected credit losses   11.7 16.1  
Proceeds from the sale of auto loans receivable   96.0 68.7 0.0
CIG Financial Acquisition        
AutoNation Finance Income [Line Items]        
Provision for credit losses on auto loans receivable $ 34.2      
AN Reportable Segment, AN Finance        
AutoNation Finance Income [Line Items]        
Interest and fee income   118.4 84.0 20.6
Interest expense   (39.8) (20.8) (4.7)
Total interest margin   78.6 63.2 15.9
Provision for credit losses   (57.5) (45.9) (44.0) [1]
Total interest margin after provision for loan losses   21.1 17.3 (28.1)
Direct expenses [2]   (37.8) (39.3) (9.5)
Gain on sale of auto loans receivable   7.4 8.1 0.0
AutoNation finance income (loss)   (9.3) (13.9) $ (37.6)
Sold auto loans receivable, aggregate amortized cost   88.6 60.6  
Sold loans, allowance for expected credit losses   11.7 16.1  
Proceeds from the sale of auto loans receivable   $ 96.0 $ 68.7  
[1]
(1) Reflects activity that occurred after the acquisition of CIG Financial on October 1, 2022. Provision for credit losses includes initial credit loss expense of $34.2 million associated with the auto loans portfolio acquired as part of the acquisition.
[2]
(2) Direct expenses are comprised primarily of compensation expenses and loan administration costs incurred by our auto finance company.
v3.25.0.1
Earnings Per Share (Basic and Diluted) (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Earnings Per Share [Abstract]      
Net income from continuing operations $ 692.2 $ 1,020.2 $ 1,377.7
Income (loss) from discontinued operations, net of income taxes 0.0 0.9 (0.3)
NET INCOME $ 692.2 $ 1,021.1 $ 1,377.4
Basic weighted average common shares outstanding (in shares) 40.5 44.6 56.3
Dilutive effect of unvested RSUs and stock options (in shares) 0.4 0.3 0.4
Diluted weighted average common shares outstanding (in shares) 40.9 44.9 56.7
Basic EPS amounts:      
Continuing operations (in dollars per share) [1] $ 17.09 $ 22.87 $ 24.47
Discontinued operations (in dollars per share) [1] 0 0.02 (0.01)
Net income (in dollars per share) [1] 17.09 22.89 24.47
Diluted EPS amounts:      
Continuing operations (in dollars per share) [1] 16.92 22.72 24.30
Discontinued operations (in dollars per share) [1] 0 0.02 (0.01)
Net income (in dollars per share) [1] $ 16.92 $ 22.74 $ 24.29
[1]
(1) EPS amounts are calculated discretely and, therefore, may not add up to the total due to rounding.
v3.25.0.1
Receivables, Net (Components Of Receivables, Net Of Allowances For Expected Credit Losses) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Receivables [Abstract]    
Contracts-in-transit and vehicle receivables $ 560.2 $ 553.8
Trade receivables 168.5 173.2
Manufacturer receivables 267.1 240.5
Income taxes receivable (See Note 14) 0.0 11.1
Other 73.8 63.9
Receivables, gross 1,069.6 1,042.5
Less: allowances for expected credit losses (3.3) (2.1)
Receivables, net $ 1,066.3 $ 1,040.4
v3.25.0.1
Auto Loans Receivable - Components Of Receivables, Net Of Allowances For Expected Credit Losses (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Receivables [Abstract]      
Total auto loans receivable $ 1,103.8 $ 451.2  
Accrued interest and fees 8.2 4.8  
Deferred loan origination costs 4.2 1.6  
Less: unearned discounts (4.3) (8.9)  
Less: allowances for expected credit losses (54.8) (46.3) $ (57.5)
Auto loans receivable, net $ 1,057.1 $ 402.4  
v3.25.0.1
Auto Loans Receivable - Financing Receivable Credit Quality Indicators (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
fICOScore
Dec. 31, 2023
USD ($)
fICOScore
Auto Loans Receivable    
Auto loans receivable, Originated in current year $ 932.0 $ 285.4
Auto loans receivable, Originated in year before current year 141.8 84.6
Auto loans receivable, Originated two years before current year 4.5 51.7
Auto loans receivable, Originated three years before current year 20.6 17.3
Auto loans receivable, Originated four years before current year 4.6 10.6
Auto loans receivable, Originated five years or more before current year 0.3 1.6
Total auto loans receivable 1,103.8 451.2
Financing Receivable, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]    
Current-period gross write-offs, 2024 origination 7.9  
Current-period gross write-offs, 2023 origination 26.6  
Current-period gross write-offs, 2022 origination 14.8  
Current-period gross write-offs, 2021 origination 8.3  
Current-period gross write-offs, 2020 origination 2.1  
Current-period gross write-offs, Prior to 2020 origination 0.8  
Current-period gross write-offs 60.5 68.3
Palladium    
Auto Loans Receivable    
Auto loans receivable, Originated in current year 194.0  
Auto loans receivable, Originated in year before current year 0.0  
Auto loans receivable, Originated two years before current year 0.0  
Auto loans receivable, Originated three years before current year 0.0  
Auto loans receivable, Originated four years before current year 0.0  
Auto loans receivable, Originated five years or more before current year 0.0  
Total auto loans receivable $ 194.0  
Palladium | Weighted Average [Member]    
Auto Loans Receivable    
Auto loans receivable, FICO Score | fICOScore 734  
Rhodium    
Auto Loans Receivable    
Auto loans receivable, Originated in current year $ 147.6 27.6
Auto loans receivable, Originated in year before current year 16.9 0.1
Auto loans receivable, Originated two years before current year 0.1 0.0
Auto loans receivable, Originated three years before current year 0.0 0.0
Auto loans receivable, Originated four years before current year 0.0 0.0
Auto loans receivable, Originated five years or more before current year 0.0 0.0
Total auto loans receivable $ 164.6 $ 27.7
Rhodium | Weighted Average [Member]    
Auto Loans Receivable    
Auto loans receivable, FICO Score | fICOScore 702 701
Platinum    
Auto Loans Receivable    
Auto loans receivable, Originated in current year $ 525.1 $ 136.3
Auto loans receivable, Originated in year before current year 82.3 14.7
Auto loans receivable, Originated two years before current year 1.7 8.2
Auto loans receivable, Originated three years before current year 4.0 3.3
Auto loans receivable, Originated four years before current year 1.0 3.1
Auto loans receivable, Originated five years or more before current year 0.1 0.5
Total auto loans receivable $ 614.2 $ 166.1
Platinum | Weighted Average [Member]    
Auto Loans Receivable    
Auto loans receivable, FICO Score | fICOScore 651 644
Gold    
Auto Loans Receivable    
Auto loans receivable, Originated in current year $ 64.9 $ 64.3
Auto loans receivable, Originated in year before current year 25.0 35.9
Auto loans receivable, Originated two years before current year 1.3 18.5
Auto loans receivable, Originated three years before current year 7.3 6.8
Auto loans receivable, Originated four years before current year 1.6 4.5
Auto loans receivable, Originated five years or more before current year 0.1 0.8
Total auto loans receivable $ 100.2 $ 130.8
Gold | Weighted Average [Member]    
Auto Loans Receivable    
Auto loans receivable, FICO Score | fICOScore 623 612
Silver    
Auto Loans Receivable    
Auto loans receivable, Originated in current year $ 0.3 $ 50.2
Auto loans receivable, Originated in year before current year 13.4 33.0
Auto loans receivable, Originated two years before current year 1.2 16.2
Auto loans receivable, Originated three years before current year 5.4 5.2
Auto loans receivable, Originated four years before current year 1.2 2.8
Auto loans receivable, Originated five years or more before current year 0.1 0.3
Total auto loans receivable $ 21.6 $ 107.7
Silver | Weighted Average [Member]    
Auto Loans Receivable    
Auto loans receivable, FICO Score | fICOScore 574 583
Bronze    
Auto Loans Receivable    
Auto loans receivable, Originated in current year $ 0.1 $ 6.7
Auto loans receivable, Originated in year before current year 4.0 0.7
Auto loans receivable, Originated two years before current year 0.2 6.0
Auto loans receivable, Originated three years before current year 2.8 1.5
Auto loans receivable, Originated four years before current year 0.6 0.1
Auto loans receivable, Originated five years or more before current year 0.0 0.0
Total auto loans receivable $ 7.7 $ 15.0
Bronze | Weighted Average [Member]    
Auto Loans Receivable    
Auto loans receivable, FICO Score | fICOScore 551 556
Copper    
Auto Loans Receivable    
Auto loans receivable, Originated in current year $ 0.0 $ 0.3
Auto loans receivable, Originated in year before current year 0.2 0.2
Auto loans receivable, Originated two years before current year 0.0 2.8
Auto loans receivable, Originated three years before current year 1.1 0.5
Auto loans receivable, Originated four years before current year 0.2 0.1
Auto loans receivable, Originated five years or more before current year 0.0 0.0
Total auto loans receivable $ 1.5 $ 3.9
Copper | Weighted Average [Member]    
Auto Loans Receivable    
Auto loans receivable, FICO Score | fICOScore 562 558
v3.25.0.1
Auto Loans Receivable - Financing Receivable, Allowance for Credit Loss (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Financing Receivable, Allowance for Credit Loss [Roll Forward]      
Balance as of beginning of year $ 46.3 $ 57.5  
Provision for credit losses 54.7 45.9 $ 43.8
Write-offs (60.5) (68.3)  
Recoveries [1] 26.0 27.3  
Sold loans (11.7) (16.1)  
Balance as of end of year 54.8 $ 46.3 $ 57.5
Unfunded Loan Commitment      
Financing Receivable, Allowance for Credit Loss [Line Items]      
Credit loss liability, current $ 2.8    
[1]
(1) Includes proceeds from the recovery of vehicle collateral, net of costs incurred.
v3.25.0.1
Auto Loans Receivable - Financing Receivable, Past Due (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Financing Receivable, Past Due [Line Items]    
Total auto loans receivable $ 1,103.8 $ 451.2
Total Past Due    
Financing Receivable, Past Due [Line Items]    
Total auto loans receivable 28.8 29.2
31-60 Days    
Financing Receivable, Past Due [Line Items]    
Total auto loans receivable 20.6 20.7
61-90 Days    
Financing Receivable, Past Due [Line Items]    
Total auto loans receivable 5.5 5.4
Greater than 90 Days    
Financing Receivable, Past Due [Line Items]    
Total auto loans receivable 2.7 3.1
Current    
Financing Receivable, Past Due [Line Items]    
Total auto loans receivable $ 1,075.0 $ 422.0
v3.25.0.1
Inventory and Vehicle Floorplan Payable (Components of Inventory) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Inventory [Line Items]    
Inventory $ 3,360.0 $ 3,033.4
New Vehicle [Member]    
Inventory [Line Items]    
Inventory 2,341.4 1,948.6
Used Vehicle [Member]    
Inventory [Line Items]    
Inventory 754.1 815.3
Parts and Service [Member]    
Inventory [Line Items]    
Inventory $ 264.5 $ 269.5
v3.25.0.1
Inventory and Vehicle Floorplan Payable (Components of Vehicle Floorplan Payable) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Floorplan Payable [Line Items]    
Vehicle floorplan payable $ 3,709.7 $ 3,382.4
Trade [Member]    
Floorplan Payable [Line Items]    
Vehicle floorplan payable 2,216.2 1,760.0
Non-Trade [Member]    
Floorplan Payable [Line Items]    
Vehicle floorplan payable $ 1,493.5 $ 1,622.4
v3.25.0.1
Inventory and Vehicle Floorplan Payable (Narrative) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Floorplan Payable [Line Items]    
Vehicle floorplan facilities, amount outstanding $ 3,709.7 $ 3,382.4
Used vehicle floorplan facilities, remaining borrowing capacity 263.5  
Used vehicle floorplan facilities, current borrowing capacity $ 0.4  
New Vehicle Floorplan Facilities [Member]    
Floorplan Payable [Line Items]    
Vehicle floorplan facilities, weighted average interest rates on amounts outstanding 6.10% 7.10%
Vehicle floorplan facilities, maximum borrowing capacity $ 4,600.0  
Vehicle floorplan facilities, amount outstanding $ 3,200.0  
Used Vehicle Floorplan Facilities [Member]    
Floorplan Payable [Line Items]    
Vehicle floorplan facilities, weighted average interest rates on amounts outstanding 5.80% 6.90%
Vehicle floorplan facilities, maximum borrowing capacity $ 809.8  
Vehicle floorplan facilities, amount outstanding $ 546.3  
v3.25.0.1
Property and Equipment, Net (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Property, Plant and Equipment [Line Items]      
Property and equipment, gross $ 6,111.1 $ 5,924.3  
Less: accumulated depreciation and amortization (2,319.2) (2,132.7)  
Property and equipment, net 3,791.9 3,791.6  
Interest costs capitalized 1.5 1.4 $ 2.2
Land [Member]      
Property, Plant and Equipment [Line Items]      
Property and equipment, gross 1,523.2 1,539.5  
Buildings and improvements [Member]      
Property, Plant and Equipment [Line Items]      
Property and equipment, gross 3,004.7 2,898.1  
Furniture, fixtures, and equipment [Member]      
Property, Plant and Equipment [Line Items]      
Property and equipment, gross $ 1,583.2 $ 1,486.7  
v3.25.0.1
Goodwill and Intangible Assets, Net (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]      
Goodwill $ 1,452.9 $ 1,465.8 $ 1,320.1
Franchise rights - indefinite-lived 861.2 876.2  
Other intangible assets 68.0 68.0  
Intangible assets, gross 929.2 944.2  
Less: accumulated amortization (23.3) (16.4)  
Intangible assets, net $ 905.9 $ 927.8  
v3.25.0.1
Goodwill and Intangible Assets, Net (Goodwill) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Goodwill [Roll Forward]    
Goodwill, gross, beginning balance $ 3,394.1 $ 3,248.4
Goodwill, Impaired, Accumulated Impairment Loss (1,928.3) (1,928.3)
Goodwill, beginning balance 1,465.8 1,320.1
Acquisitions, dispositions, and other adjustments, net [1] (12.9) 145.7
Goodwill, gross, ending balance 3,381.2 3,394.1
Goodwill, Impaired, Accumulated Impairment Loss (1,928.3) (1,928.3)
Goodwill, ending balance 1,452.9 1,465.8
Reporting Unit, Domestic [Member]    
Goodwill [Roll Forward]    
Goodwill, gross, beginning balance 374.5 376.3
Goodwill, Impaired, Accumulated Impairment Loss (140.0) (140.0)
Goodwill, beginning balance 234.5 236.3
Acquisitions, dispositions, and other adjustments, net [1] (11.1) (1.8)
Goodwill, gross, ending balance 363.4 374.5
Goodwill, Impaired, Accumulated Impairment Loss (140.0) (140.0)
Goodwill, ending balance 223.4 234.5
Reporting Unit, Import [Member]    
Goodwill [Roll Forward]    
Goodwill, gross, beginning balance 526.6 518.7
Goodwill, Impaired, Accumulated Impairment Loss 0.0 0.0
Goodwill, beginning balance 526.6 518.7
Acquisitions, dispositions, and other adjustments, net [1] (2.3) 7.9
Goodwill, gross, ending balance 524.3 526.6
Goodwill, Impaired, Accumulated Impairment Loss 0.0 0.0
Goodwill, ending balance 524.3 526.6
Reporting Unit, Premium Luxury [Member]    
Goodwill [Roll Forward]    
Goodwill, gross, beginning balance 739.5 739.5
Goodwill, Impaired, Accumulated Impairment Loss (257.4) (257.4)
Goodwill, beginning balance 482.1 482.1
Acquisitions, dispositions, and other adjustments, net [1] (0.4) 0.0
Goodwill, gross, ending balance 739.1 739.5
Goodwill, Impaired, Accumulated Impairment Loss (257.4) (257.4)
Goodwill, ending balance 481.7 482.1
Reporting Unit, AN Finance [Member]    
Goodwill [Roll Forward]    
Goodwill, gross, beginning balance 78.4 78.3
Goodwill, Impaired, Accumulated Impairment Loss 0.0 0.0
Goodwill, beginning balance 78.4 78.3
Acquisitions, dispositions, and other adjustments, net [1] 0.0 0.1
Goodwill, gross, ending balance 78.4 78.4
Goodwill, Impaired, Accumulated Impairment Loss 0.0 0.0
Goodwill, ending balance 78.4 78.4
Reporting Unit, Other    
Goodwill [Roll Forward]    
Goodwill, gross, beginning balance [2] 1,675.1 1,535.6
Goodwill, Impaired, Accumulated Impairment Loss [2] (1,530.9) (1,530.9)
Goodwill, beginning balance 144.2 4.7
Acquisitions, dispositions, and other adjustments, net [1] 0.9 139.5
Goodwill, gross, ending balance [2] 1,676.0 1,675.1
Goodwill, Impaired, Accumulated Impairment Loss [2] (1,530.9) (1,530.9)
Goodwill, ending balance 145.1 144.2
Single Reporting Unit (before change in reporting units)    
Goodwill [Roll Forward]    
Goodwill, Impaired, Accumulated Impairment Loss (1,470.0) (1,470.0)
Goodwill, Impaired, Accumulated Impairment Loss $ (1,470.0) $ (1,470.0)
[1] Includes amounts reclassified to held for sale and related adjustments, which are presented in Other Current Assets in our Consolidated Balance Sheets as of period end.
[2] Gross goodwill balance and accumulated impairment losses reflected in “Other” include $1.47 billion associated with our single reporting unit (prior to September 30, 2008, our reporting unit reporting structure was comprised of a single reporting unit). Gross goodwill balance reflected in “Other” also includes amounts associated with the Collision Center, Parts Center, and AutoNation Mobile Service reporting units, as applicable in a given period.
v3.25.0.1
Goodwill and Intangible Assets, Net (Intangible Assets) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Indefinite-lived Intangible Assets by Segment [Line Items]    
Franchise rights - indefinite-lived $ 861.2 $ 876.2
AN Reportable Segment, Domestic [Member]    
Indefinite-lived Intangible Assets by Segment [Line Items]    
Franchise rights - indefinite-lived 225.6  
AN Reportable Segment, Import [Member]    
Indefinite-lived Intangible Assets by Segment [Line Items]    
Franchise rights - indefinite-lived 189.6  
AN Reportable Segment, Premium Luxury [Member]    
Indefinite-lived Intangible Assets by Segment [Line Items]    
Franchise rights - indefinite-lived $ 446.0  
v3.25.0.1
Leases (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Assets and Liabilities, Lessee [Abstract]    
Operating Lease Assets $ 391.1 $ 392.1
Finance Lease Assets 325.1 351.1
Total right-of-use Assets 716.2 743.2
Current Operating Lease Liabilities 48.1 41.2
Current Finance Lease Liabilities 94.1 46.9
Noncurrent Operating Lease Liabilities 356.9 363.2
Noncurrent Finance Lease Liabilities 281.3 349.6
Total lease liabilities $ 780.4 $ 800.9
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] OTHER ASSETS, PROPERTY AND EQUIPMENT, NET OTHER ASSETS, PROPERTY AND EQUIPMENT, NET
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Other current liabilities Other current liabilities
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List] Current maturities of long-term debt, Vehicle floorplan payable Current maturities of long-term debt, Vehicle floorplan payable
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Long-term debt, net of current maturities Long-term debt, net of current maturities
Lease Cost [Abstract]    
Weighted average remaining lease term, Operating leases 11 years 12 years
Weighted average remaining lease term, Finance leases 12 years 13 years
Weighted average discount rate, Operating leases (percent) 5.79% 5.71%
Weighted average discount rate, finance leases (percent) 4.40% 4.43%
Operating lease cost $ 71.1 $ 62.3
Finance lease cost, Amortization of ROU assets 23.6 24.6
Finance lease cost, Interest on lease liabilities 17.0 17.8
Short-term lease cost [1] 13.0 11.3
Variable lease cost 13.8 12.0
Sublease Income (4.6) (3.6)
Net lease cost 133.9 124.4
Cash Flow Activities, Lessee [Abstract]    
Operating cash flows from operating leases 68.0 61.4
Operating cash flows from finance leases [2] 62.4 63.7
Payment of other debt obligations 13.0 12.3
Adjustments to right-of-use assets, including right-of-use assets obtained in exchange for new operating lease liabilities 45.9 111.7
Adjustments to right-of-use assets, including right-of-use assets obtained in exchange for new finance lease liabilities 38.0 $ 54.7
Maturity of Lease Liabilities [Abstract]    
Maturity of Operating Lease Liabilities, Twelve months ended December 31, 2025 65.3  
Maturity of Operating Lease Liabilities, Twelve months ended December 31, 2026 61.4  
Maturity of Operating Lease Liabilities, Twelve months ended December 31, 2027 53.3  
Maturity of Operating Lease Liabilities, Twelve months ended December 31, 2028 49.6  
Maturity of Operating Lease Liabilities, Twelve months ended December 31, 2029 48.2  
Maturity of Operating Lease Liabilities, Thereafter 293.5  
Total Operating Lease Payments 571.3  
Less: interest (Operating leases) (166.3)  
Present Value of Operating lease liabilities 405.0  
Maturity of Finance Lease Liabilities, Twelve months ended December 31, 2025 106.3  
Maturity of Finance Lease Liabilities, Twelve months ended December 31, 2026 24.3  
Maturity of Finance Lease Liabilities, Twelve months ended December 31, 2027 25.5  
Maturity of Finance Lease Liabilities, Twelve months ended December 31, 2028 25.3  
Maturity of Finance Lease Liabilities, Twelve months ended December 31, 2029 24.9  
Maturity of Finance Lease Liabilities, Thereafter 259.2  
Total Finance Lease Payments 465.5  
Less: interest (Finance leases) (90.1)  
Present value of Finance lease liabilities $ 375.4  
Minimum [Member]    
Lessee, General Description [Abstract]    
Lease Renewal Terms 1 year  
Maximum [Member]    
Lessee, General Description [Abstract]    
Lease Renewal Terms 5 years  
Land and Building [Member] | Minimum [Member]    
Lessee, General Description [Abstract]    
Lease Terms 1 year  
Land and Building [Member] | Maximum [Member]    
Lessee, General Description [Abstract]    
Lease Terms 25 years  
Equipment [Member] | Minimum [Member]    
Lessee, General Description [Abstract]    
Lease Terms 1 year  
Equipment [Member] | Maximum [Member]    
Lessee, General Description [Abstract]    
Lease Terms 5 years  
Vehicles [Member] | Minimum [Member]    
Lessee, General Description [Abstract]    
Service loaner vehicle leases, lease terms 6 months  
Vehicles [Member] | Maximum [Member]    
Lessee, General Description [Abstract]    
Service loaner vehicle leases, lease terms 18 months  
[1]
(1) Includes leases with a term of one month or less.
[2]
(1) Includes the interest component of payments made on finance leases as well as principal payments on vehicle floorplan payables with trade lenders for certain service loaner vehicle leases.
v3.25.0.1
Debt (Long-Term Debt) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Debt Instruments [Abstract]    
Less: current maturities $ (518.5) $ (462.4)
Long-term debt, net of current maturities 2,613.6 3,127.9
Recourse    
Debt Instruments [Abstract]    
Long-term debt 3,150.0 3,612.2
Less: unamortized debt discounts and debt issuance costs (17.9) (21.9)
Less: current maturities (518.5) (462.4)
Long-term debt, net of current maturities $ 2,613.6 3,127.9
Senior Notes at Three Point Five Percent Due 2024 [Member] | Senior Notes [Member] | Recourse    
Debt Instruments [Abstract]    
Percentage interest on debt instrument 3.50%  
Debt instrument, maturity date Nov. 15, 2024  
Senior notes $ 0.0 450.0
Senior Notes at Four Point Five Percent Due 2025 [Member] | Senior Notes [Member] | Recourse    
Debt Instruments [Abstract]    
Percentage interest on debt instrument 4.50%  
Debt instrument, maturity date Oct. 01, 2025  
Senior notes $ 450.0 450.0
Senior Notes at Three Point Eight Percent Due 2027 [Member] | Senior Notes [Member] | Recourse    
Debt Instruments [Abstract]    
Percentage interest on debt instrument 3.80%  
Debt instrument, maturity date Nov. 15, 2027  
Senior notes $ 300.0 300.0
Senior Notes at One Point Nine Five Percent Due 2028 [Member] | Senior Notes [Member] | Recourse    
Debt Instruments [Abstract]    
Percentage interest on debt instrument 1.95%  
Debt instrument, maturity date Aug. 01, 2028  
Senior notes $ 400.0 400.0
Senior Notes at Four Point Seven Five Percent Due 2030 [Member] | Senior Notes [Member] | Recourse    
Debt Instruments [Abstract]    
Percentage interest on debt instrument 4.75%  
Debt instrument, maturity date Jun. 01, 2030  
Senior notes $ 500.0 500.0
Senior Notes at Two Point Four Percent Due 2031 [Member] | Senior Notes [Member] | Recourse    
Debt Instruments [Abstract]    
Percentage interest on debt instrument 2.40%  
Debt instrument, maturity date Aug. 01, 2031  
Senior notes $ 450.0 450.0
Senior Notes at Three Point Eight Five Percent Due 2032 [Member] | Senior Notes [Member] | Recourse    
Debt Instruments [Abstract]    
Percentage interest on debt instrument 3.85%  
Debt instrument, maturity date Mar. 01, 2032  
Senior notes $ 700.0 700.0
Revolving Credit Facility Due 2028 [Member] | Recourse    
Debt Instruments [Abstract]    
Revolving credit facility, amount outstanding $ 0.0 0.0
Revolving Credit Facility Due 2028 [Member] | Line of Credit [Member] | Recourse    
Debt Instruments [Abstract]    
Debt instrument, maturity date Jul. 18, 2028  
Other Debt [Member] | Recourse    
Debt Instruments [Abstract]    
Other debt $ 350.0 $ 362.2
v3.25.0.1
Debt (Maturities of Long-Term Debt) (Details) - Recourse - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Debt Instrument [Line Items]    
2025 $ 519.0  
2026 14.1  
2027 315.9  
2028 416.4  
2029 16.8  
Thereafter 1,867.8  
Long-term debt $ 3,150.0 $ 3,612.2
v3.25.0.1
Debt (Senior Unsecured Notes and Credit Agreement) (Details) - USD ($)
$ in Millions
 1 Months Ended 12 Months Ended
Nov. 30, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Debt Instrument [Line Items]        
Repayment of senior notes   $ 450.0 $ 0.0 $ 0.0
Letters of credit, amount outstanding   0.8    
Senior Notes at Three Point Five Percent Due 2024 [Member] | Senior Notes [Member] | Recourse        
Debt Instrument [Line Items]        
Repayment of senior notes $ 450.0      
Senior notes   $ 0.0 450.0  
Percentage interest on debt instrument   3.50%    
Debt instrument, maturity date   Nov. 15, 2024    
Senior Notes at Four Point Five Percent Due 2025 [Member] | Senior Notes [Member] | Recourse        
Debt Instrument [Line Items]        
Senior notes   $ 450.0 450.0  
Percentage interest on debt instrument   4.50%    
Debt instrument, maturity date   Oct. 01, 2025    
Senior Notes at Three Point Eight Percent Due 2027 [Member] | Senior Notes [Member] | Recourse        
Debt Instrument [Line Items]        
Senior notes   $ 300.0 300.0  
Percentage interest on debt instrument   3.80%    
Debt instrument, maturity date   Nov. 15, 2027    
Senior Notes at One Point Nine Five Percent Due 2028 [Member] | Senior Notes [Member] | Recourse        
Debt Instrument [Line Items]        
Senior notes   $ 400.0 400.0  
Percentage interest on debt instrument   1.95%    
Debt instrument, maturity date   Aug. 01, 2028    
Senior Notes at Four Point Seven Five Percent Due 2030 [Member] | Senior Notes [Member] | Recourse        
Debt Instrument [Line Items]        
Senior notes   $ 500.0 500.0  
Percentage interest on debt instrument   4.75%    
Debt instrument, maturity date   Jun. 01, 2030    
Senior Notes at Two Point Four Percent Due 2031 [Member] | Senior Notes [Member] | Recourse        
Debt Instrument [Line Items]        
Senior notes   $ 450.0 450.0  
Percentage interest on debt instrument   2.40%    
Debt instrument, maturity date   Aug. 01, 2031    
Senior Notes at Three Point Eight Five Percent Due 2032 [Member] | Senior Notes [Member] | Recourse        
Debt Instrument [Line Items]        
Senior notes   $ 700.0 700.0  
Percentage interest on debt instrument   3.85%    
Debt instrument, maturity date   Mar. 01, 2032    
Revolving Credit Facility Due 2028 [Member]        
Debt Instrument [Line Items]        
Maximum borrowing capacity under revolving credit facility   $ 1,900.0    
Additional borrowing capacity under accordion feature of revolving credit facility   500.0    
Revolving credit facilities letter of credit sublimit   200.0    
Additional borrowing capacity under revolving credit facility   1,900.0    
Revolving Credit Facility Due 2028 [Member] | Recourse        
Debt Instrument [Line Items]        
Revolving credit facility, amount outstanding   $ 0.0 $ 0.0  
Revolving Credit Facility Due 2028 [Member] | Line of Credit [Member] | Recourse        
Debt Instrument [Line Items]        
Debt instrument, maturity date   Jul. 18, 2028    
Revolving Credit Facility Due 2028 [Member] | Minimum [Member]        
Debt Instrument [Line Items]        
Commitment fee on undrawn amounts (percent)   0.125%    
Revolving Credit Facility Due 2028 [Member] | Maximum [Member]        
Debt Instrument [Line Items]        
Commitment fee on undrawn amounts (percent)   0.20%    
Revolving Credit Facility Due 2028 [Member] | Base Rate [Member] | Minimum [Member] | Line of Credit [Member]        
Debt Instrument [Line Items]        
Basis spread on variable interest rates (percent)   0.125%    
Revolving Credit Facility Due 2028 [Member] | Base Rate [Member] | Maximum [Member] | Line of Credit [Member]        
Debt Instrument [Line Items]        
Basis spread on variable interest rates (percent)   0.50%    
Revolving Credit Facility Due 2028 [Member] | Secured Overnight Financing Rate (SOFR) | Line of Credit [Member]        
Debt Instrument [Line Items]        
Credit Spread Adjustment on Credit Agreement   0.10%    
Revolving Credit Facility Due 2028 [Member] | Secured Overnight Financing Rate (SOFR) | Minimum [Member] | Line of Credit [Member]        
Debt Instrument [Line Items]        
Basis spread on variable interest rates (percent)   1.125%    
Revolving Credit Facility Due 2028 [Member] | Secured Overnight Financing Rate (SOFR) | Maximum [Member] | Line of Credit [Member]        
Debt Instrument [Line Items]        
Basis spread on variable interest rates (percent)   1.50%    
v3.25.0.1
Debt (Other Long-Term Debt and Commercial Paper) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Debt Instrument [Line Items]    
Commercial paper, maximum aggregate amount outstanding permitted $ 1,900.0  
Commercial paper, amount outstanding $ 630.0 $ 440.0
Commercial Paper [Member]    
Debt Instrument [Line Items]    
Weighted-average annual interest rate 4.90% 5.90%
Weighted Average [Member] | Commercial Paper [Member]    
Debt Instrument [Line Items]    
Maturity period of debt 9 days 6 days
Maximum [Member] | Commercial Paper [Member]    
Debt Instrument [Line Items]    
Maturity period of debt 397 days  
v3.25.0.1
Debt (Non-Recourse Debt) (Details)
$ in Millions
Dec. 31, 2024
USD ($)
numberOfAgreement
Dec. 31, 2023
USD ($)
Debt Instrument [Line Items]    
Non-Recourse Debt, Current $ (28.3) $ (8.8)
NON-RECOURSE DEBT, NET OF CURRENT PORTION $ 797.7 249.6
Number of warehouse facility agreements | numberOfAgreement 3  
Auto loans receivable $ 1,103.8 451.2
Variable Interest Entity, Primary Beneficiary | Asset Pledged as Collateral    
Debt Instrument [Line Items]    
Restricted cash included in Current Assets 3.4 4.3
Auto loans receivable 24.5 50.8
Nonrecourse    
Debt Instrument [Line Items]    
Non Recourse Debt 826.2 259.9
Less: unamortized debt discounts and debt issuance costs (0.2) (1.5)
Non-Recourse Debt, Current (28.3) (8.8)
NON-RECOURSE DEBT, NET OF CURRENT PORTION 797.7 249.6
Warehouse Facilities | Nonrecourse    
Debt Instrument [Line Items]    
Non Recourse Debt $ 801.5 $ 209.4
Weighted-average annual interest rate 5.40% 7.30%
Aggregate borrowing capacity $ 950.0  
Unused borrowing capacity 148.5  
Remaining borrowing capacity 1.1  
Warehouse Facility One [Member] | Nonrecourse    
Debt Instrument [Line Items]    
Aggregate borrowing capacity 300.0  
Warehouse Facility Two [Member] | Nonrecourse    
Debt Instrument [Line Items]    
Aggregate borrowing capacity 200.0  
Term securitization debt | Nonrecourse | Variable Interest Entity, Primary Beneficiary    
Debt Instrument [Line Items]    
Non Recourse Debt $ 24.7 $ 50.5
Term securitization debt | Minimum [Member] | Nonrecourse | Variable Interest Entity, Primary Beneficiary    
Debt Instrument [Line Items]    
Percentage interest on debt instrument 2.11%  
Term securitization debt | Maximum [Member] | Nonrecourse | Variable Interest Entity, Primary Beneficiary    
Debt Instrument [Line Items]    
Percentage interest on debt instrument 4.45%  
Warehouse Facility Three | Nonrecourse    
Debt Instrument [Line Items]    
Aggregate borrowing capacity $ 450.0  
v3.25.0.1
Chargeback Liability (Details) - Chargeback Reserves [Member] - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]      
Chargeback liabilities, beginning balance $ 200.4 $ 197.0 $ 171.0
Add: Provisions 194.8 168.0 192.3
Deduct: Chargebacks (185.9) (164.6) (166.3)
Chargeback liabilities, ending balance $ 209.3 $ 200.4 $ 197.0
v3.25.0.1
Self-Insurance (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Insurance    
Self Insurance Reserve $ 120.2 $ 102.3
Other Current Liabilities    
Insurance    
Self Insurance Reserve 52.2 42.3
Other Noncurrent Liabilities    
Insurance    
Self Insurance Reserve $ 68.0 $ 60.0
v3.25.0.1
Income Taxes Components of Income Tax Provision From Continuing Operations (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Current:      
Federal $ 185.8 $ 245.6 $ 368.7
State 45.1 64.9 87.4
Federal and state deferred (3.8) 19.0 0.8
Change in valuation allowance, net 1.3 1.0 0.2
Adjustments and settlements (3.9) (0.5) (1.3)
Income tax provision $ 224.5 $ 330.0 $ 455.8
v3.25.0.1
Reconciliation of Income Tax Provision (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Effective Income Tax Rate Reconciliation, Amount [Abstract]      
Income tax provision at statutory rate $ 192.5 $ 283.5 $ 385.0
Other non-deductible expenses, net 4.5 0.5 7.9
State income taxes, net of federal benefit 35.5 53.4 72.8
Income tax provision, excluding other reconciling items 232.5 337.4 465.7
Change in valuation allowance, net 1.3 1.0 0.2
Adjustments and settlements (3.9) (0.5) (1.3)
Federal and state tax credits (2.9) (2.8) (4.5)
Other, net (2.5) (5.1) (4.3)
Income tax provision $ 224.5 $ 330.0 $ 455.8
Effective Income Tax Rate Reconciliation, Percent [Abstract]      
Income tax provision at statutory rate, % 21.00% 21.00% 21.00%
Other non-deductible expenses, net, % 0.50% 0.00% 0.40%
State income taxes, net of federal benefit, % 3.90% 4.00% 4.00%
Income tax provision, excluding other reconciling items, % 25.40% 25.00% 25.40%
Change in valuation allowance, net, % 0.10% 0.10% 0.00%
Adjustments and settlements, % (0.40%) 0.00% (0.10%)
Federal and state tax credits, % (0.30%) (0.20%) (0.20%)
Other, net, % (0.30%) (0.50%) (0.20%)
Income tax provision, % 24.50% 24.40% 24.90%
v3.25.0.1
Income Taxes Deferred Income Tax Asset and Liability Components (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Deferred income tax assets:    
Inventory $ 32.4 $ 31.9
Receivable allowances 0.7 0.4
Warranty, chargeback, and self - insurance liabilities 78.6 72.6
Other accrued liabilities 32.7 30.7
Deferred compensation 33.9 31.7
Stock-based compensation 8.9 9.0
Lease liabilities 159.6 162.9
Loss carryforwards—state 19.1 22.7
Software development costs 25.1 15.4
Other, net 4.2 5.5
Total deferred income tax assets 395.2 382.8
Valuation allowance (8.3) (7.1)
Deferred income tax assets, net of valuation allowance 386.9 375.7
Deferred income tax liabilities:    
Long-lived assets (intangible assets and property) (312.9) (298.7)
Investments - unrealized appreciation (1.1) (2.8)
Right-of-use assets (145.0) (150.2)
Other, net (11.0) (9.0)
Total deferred income tax liabilities (470.0) (460.7)
Net deferred income tax liabilities $ (83.1) $ (85.0)
v3.25.0.1
Income Taxes Deferred Income Tax Asset and Liability Components - Narrative (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Valuation Allowance [Line Items]    
Net deferred income tax liabilities $ 83.1 $ 85.0
Income taxes payable 69.0  
Income taxes receivable 0.0 11.1
State tax credits 1.0  
Federal and state loss carryforwards and state tax credits, deferred tax asset 19.1  
State net operating loss carryforwards, valuation allowance 8.3 $ 7.1
Domestic Tax Jurisdiction    
Valuation Allowance [Line Items]    
Gross domestic state net operating loss carryforwards 44.5  
State and Local Jurisdiction    
Valuation Allowance [Line Items]    
Gross domestic state net operating loss carryforwards 176.5  
Operating loss carryforwards not subject to expiration 37.4  
Operating loss carryforwards subject to expiration dates from 2025 through 2044 139.0  
Deferred Tax Asset, Loss Carry Forwards    
Valuation Allowance [Line Items]    
State net operating loss carryforwards, valuation allowance $ 8.3  
v3.25.0.1
Unrecognized Tax Benefits and Tax Reform (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Unrecognized Tax Benefits [Roll Forward]      
Balance at January 1 $ 5.1 $ 5.5 $ 6.9
Additions based on tax positions related to the current year 0.0 0.0 0.0
Additions for tax positions of prior years 2.5 1.2 0.6
Reductions for tax positions of prior years 0.0 0.0 0.0
Reductions for expirations of statute of limitations (1.7) (1.6) (1.4)
Settlements 0.0 0.0 (0.6)
Balance at December 31 5.9 5.1 5.5
Unrecognized tax benefits, accumulated interest and penalties 7.6 10.7 9.6
Deferred tax assets related to unrecognized tax benefits 3.0 3.6 3.4
Net unrecognized tax benefits, associated interest, penalties and deferred tax asset that if resolved would impact effective tax rate 10.5 12.2 11.7
Recognized interest and penalties $ (2.3) $ 0.8 $ 0.4
v3.25.0.1
Shareholders' Equity (Shares Repurchased Under Share Repurchase Program) (Details) - USD ($)
$ / shares in Units, $ in Millions
 1 Months Ended 12 Months Ended
Nov. 30, 2022
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Class of Stock [Line Items]        
Aggregate purchase price   $ 464.2 $ 871.7 $ 1,710.2
Excise tax accrual on share repurchases   $ 4.2 $ 8.1  
Common Stock [Member]        
Class of Stock [Line Items]        
Treasury stock cancellation, Shares 23,000,000     23,000,000
Stock Repurchase Program Board Authorized Repurchases [Member]        
Class of Stock [Line Items]        
Shares repurchased (in shares)   2,900,000 6,400,000 15,600,000
Aggregate purchase price   $ 460.0 $ 863.6 $ 1,710.2
Average purchase price per share (in dollars per share)   $ 160.86 $ 134.68 $ 109.86
Remaining amount available for share repurchase   $ 860.8    
v3.25.0.1
Shareholders' Equity (Preferred Stock) (Details)
Dec. 31, 2024
$ / shares
shares
Stockholders' Equity Note [Abstract]  
Preferred Stock, Shares Authorized 5,000,000.0
Preferred Stock, Par or Stated Value Per Share | $ / shares $ 0.01
Preferred stock, shares issued 0
Preferred stock, shares outstanding 0
v3.25.0.1
Shareholders' Equity (Common Stock Issued With The Exercise Of Stock Options (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Stockholders' Equity Note [Abstract]      
Shares issued (in actual number of shares) 8,685 37,996 71,030
Proceeds from the exercise of stock options $ 0.5 $ 1.9 $ 3.4
Average exercise price per share (in dollars per share) $ 58.08 $ 50.34 $ 47.94
v3.25.0.1
Shareholders' Equity (Shares Issued And Shares Surrendered To Satisfy Tax Withholdings In Connection With Restricted Stock Units) (Details) - Restricted Stock Units (RSUs) [Member] - shares
shares in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Shares issued (in shares) 0.4 0.6 0.8
Shares surrendered to AutoNation to satisfy tax withholding obligations (in shares) 0.1 0.2 0.3
v3.25.0.1
Stock-Based Compensation (Details)
Dec. 31, 2024
shares
Employee [Member] | Employee Equity and Incentive Plan 2017 [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Number of shares authorized 5,500,000
Director [Member] | Non-Employee Director Equity Plan 2024  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Number of shares authorized 400,000
v3.25.0.1
Stock-Based Compensation (Restricted Stock Units) (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Jan. 03, 2023
Share-Based Payment Arrangement, Additional Disclosure        
Stock-based compensation $ 36.5 $ 39.7 $ 31.5  
Tax benefits related to vesting of RSUs and exercise of stock options $ 6.9 $ 9.0 $ 9.7  
Restricted Stock Units (RSUs) [Member]        
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]        
Nonvested, shares, beginning balance 1,000,000.0      
Nonvested, weighted-average grant date fair value, beginning balance (in dollars per share) $ 108.26      
Granted, shares 300,000      
Granted, weighted-average grant date fair value (in dollars per share) $ 171.84 $ 139.11 $ 112.66  
Vested, shares (300,000)      
Vested, weighted-average grant date fair value (in dollars per share) $ 85.56      
Forfeited, shares (100,000)      
Forfeited, weighted-average grant date fair value (in dollars per share) $ 138.69      
Nonvested, shares, ending balance 900,000 1,000,000.0    
Nonvested, weighted-average grant date fair value, ending balance (in dollars per share) $ 140.18 $ 108.26    
Share-Based Payment Arrangement, Additional Disclosure        
Total fair value of RSU's vested $ 54.8 $ 76.0 $ 85.7  
Stock-based compensation 36.5 39.7 31.5  
Tax benefit related to stock-based compensation expense 4.1 $ 4.5 $ 4.0  
Unrecognized compensation cost related to non-vested stock-based compensation arrangements $ 34.3      
Unrecognized compensation cost expected to be recognized over weighted average period (in years) 1 year 6 months 3 days      
Director [Member] | Restricted Stock Units (RSUs) [Member] | Non-Employee Director Equity Plan 2014 [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Number of restricted stock units granted to each non-employee director (in shares)       1,659
Employee [Member] | Restricted Stock Units (RSUs) [Member] | Employee Equity and Incentive Plan 2017 [Member]        
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]        
Granted, shares 300,000      
Employee [Member] | Time-based Restricted Stock Units [Member] | Employee Equity and Incentive Plan 2017 [Member] | Minimum [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Vesting period (in years) 3 years      
Employee [Member] | Time-based Restricted Stock Units [Member] | Employee Equity and Incentive Plan 2017 [Member] | Maximum [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Vesting period (in years) 4 years      
Employee [Member] | Performance-based RSUs [Member] | Employee Equity and Incentive Plan 2017 [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Vesting period (in years) 3 years      
Measurement Period (in years) 3 years      
Employee [Member] | Market-based RSUs [Member] | Employee Equity and Incentive Plan 2017 [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Vesting period (in years) 3 years      
Measurement Period (in years) 3 years      
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions and Methodology [Abstract]        
Monte Carlo Simulation, Risk Free Interest Rate 4.31% 4.60%    
Monte Carlo Simulation, Expected Volatility Rate 40.28% 42.89%    
Monte Carlo Simulation, Expected Dividend Rate 0.00% 0.00%    
v3.25.0.1
Stock-Based Compensation (Stock Options) (Details) - Stock Options [Member] - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Expiration period (in years) 10 years    
Vesting period (in years) 4 years    
Total intrinsic value of stock options exercised $ 1.0 $ 3.5 $ 5.0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number 12,309    
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price $ 55.27    
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term 10 months 13 days    
v3.25.0.1
Acquisitions and Divestitures (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
store
Dec. 31, 2023
USD ($)
store
Dec. 31, 2022
USD ($)
store
Business Acquisition and Divestitures [Line Items]      
Cash received from business divestitures, net of cash relinquished | $ $ 156.0 $ 23.2 $ 55.2
Gain on disposal | $ $ 53.9 $ 6.1 $ 16.0
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal, Statement of Income or Comprehensive Income [Extensible Enumeration] Other Operating Income (Expense), Net Other Operating Income (Expense), Net  
Domestic Stores Divested      
Business Acquisition and Divestitures [Line Items]      
Number of businesses divested 7 1  
Import Stores Divested      
Business Acquisition and Divestitures [Line Items]      
Number of businesses divested 1    
Premium Stores Divested      
Business Acquisition and Divestitures [Line Items]      
Number of businesses divested     3
Domestic Stores Acquired      
Business Acquisition and Divestitures [Line Items]      
Number of businesses acquired   1 3
Import Stores Acquired      
Business Acquisition and Divestitures [Line Items]      
Number of businesses acquired   5 1
Premium Stores Acquired      
Business Acquisition and Divestitures [Line Items]      
Number of businesses acquired   1  
v3.25.0.1
Cash Flow Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Supplemental Cash Flow Information [Abstract]        
Cash and cash equivalents $ 59.8 $ 60.8    
Restricted cash included in Other Current Assets 41.7 14.3    
Restricted cash included in Other Assets 1.9 1.9    
Total cash, cash equivalents, and restricted cash 103.4 77.0 $ 95.4 $ 60.6
Accrued purchases of property and equipment 18.4 38.7 33.0  
Interest payments, net of amounts capitalized and including interest on vehicle inventory financing 392.0 310.3 153.7  
Income tax payments, net of income tax refunds $ 148.7 $ 300.8 $ 482.5  
v3.25.0.1
Financial Instruments and Fair Value Measurements (Summary of Carrying Values and Fair Values of Fixed Rate Debt) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity security with readily determinable fair value $ 20.0 $ 22.8
Equity investment without a readily determinable fair value 49.8 56.7
Net gains recognized during the period on equity securities (7.0) 5.2
Less: Net gains recognized during the period on equity securities 0.0 0.0
Unrealized gains (losses) recognized during the reporting period on equity securities still held at the reporting date (7.0) 5.2
Nonrecurring [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Gain/(Loss) on equity investment (8.4) 0.0
Equity investment without readily determinable fair value, cumulative downward adjustment 8.4  
Equity investment without readily determinable fair value, cumulative upward adjustment 3.4  
Fixed Rate Debt [Member] | Carrying Value [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fixed rate long-term debt 2,782.1 3,228.1
Fixed Rate Debt [Member] | Fair Value [Member]    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fixed rate long-term debt $ 2,578.6 $ 2,979.3
v3.25.0.1
Financial Instruments And Fair Value Measurements (Nonfinancial Assets Measured on a Nonrecurring Basis) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Equity investment $ 49.8 $ 56.7  
Impairment, Long-Lived Asset, Held-for-Use, Statement of Income or Comprehensive Income [Extensible Enumeration] Other Operating Income (Expense), Net Other Operating Income (Expense), Net Other Operating Income (Expense), Net
Nonrecurring [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Gain/(Loss) on equity investment $ (8.4) $ 0.0  
Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Equity investment 48.3 0.0  
Franchise rights and other intangible assets 0.0 0.0  
Franchise Rights | Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Valuation Technique, Discounted Cash Flow      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Franchise rights and other intangible assets 0.0    
Continuing Operations [Member] | Nonrecurring [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Gain/(Loss) on franchise rights and other intangible assets (12.5) (2.3)  
Gain/(Loss) on assets long-lived assets held and used (9.3) (2.9)  
Continuing Operations [Member] | Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Long-lived assets held and used $ 0.0 $ 0.0  
v3.25.0.1
Financial Instruments and Fair Value Measurements (Narrative) (Details)
 3 Months Ended 4 Months Ended 12 Months Ended
Dec. 31, 2024
USD ($)
Apr. 30, 2024
USD ($)
Dec. 31, 2024
USD ($)
store
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Franchise rights impairment     $ 12,500,000 $ 0 $ 0
Fair Value Measurement Inputs and Valuation Techniques [Abstract]          
Impairment, Intangible Asset, Statement of Income or Comprehensive Income [Extensible Enumeration]     Franchise rights impairment Franchise rights impairment  
AN Reportable Segment, Domestic [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Franchise rights impairment, number of stores | store     1    
AN Reportable Segment, Import [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Franchise rights impairment, number of stores | store     1    
Franchise Rights          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Franchise rights impairment   $ 0   $ 0  
Franchise Rights | Nonrecurring [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Franchise rights impairment $ 12,500,000   $ 12,500,000    
Franchise Rights | Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Measurement Input, Long-Term Revenue Growth Rate | Valuation Technique, Discounted Cash Flow          
Fair Value Measurement Inputs and Valuation Techniques [Abstract]          
Franchise Rights, Measurement Input 0.020   0.020    
Franchise Rights | Nonrecurring [Member] | Arithmetic Average | Fair Value, Inputs, Level 3 [Member] | Measurement Input, Weighted Average Cost of Capital | Valuation Technique, Discounted Cash Flow          
Fair Value Measurement Inputs and Valuation Techniques [Abstract]          
Franchise Rights, Measurement Input 0.100   0.100    
Franchise Rights | Nonrecurring [Member] | Arithmetic Average | Fair Value, Inputs, Level 3 [Member] | Measurement Input, Discount Rate | Valuation Technique, Discounted Cash Flow          
Fair Value Measurement Inputs and Valuation Techniques [Abstract]          
Franchise Rights, Measurement Input 0.143   0.143    
Franchise Rights | Nonrecurring [Member] | Arithmetic Average | Fair Value, Inputs, Level 3 [Member] | Measurement Input, Long-term Pretax Loss Margin | Valuation Technique, Discounted Cash Flow          
Fair Value Measurement Inputs and Valuation Techniques [Abstract]          
Franchise Rights, Measurement Input 0.046   0.046    
Franchise Rights | Nonrecurring [Member] | Arithmetic Average | Fair Value, Inputs, Level 3 [Member] | Measurement Input, Contributory Asset Charges | Valuation Technique, Discounted Cash Flow          
Fair Value Measurement Inputs and Valuation Techniques [Abstract]          
Franchise Rights, Measurement Input 0.060   0.060    
Franchise Rights | Nonrecurring [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member] | Measurement Input, Discount Rate | Valuation Technique, Discounted Cash Flow          
Fair Value Measurement Inputs and Valuation Techniques [Abstract]          
Franchise Rights, Measurement Input 0.135   0.135    
Franchise Rights | Nonrecurring [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member] | Measurement Input, Long-term Pretax Loss Margin | Valuation Technique, Discounted Cash Flow          
Fair Value Measurement Inputs and Valuation Techniques [Abstract]          
Franchise Rights, Measurement Input 0.027   0.027    
Franchise Rights | Nonrecurring [Member] | Minimum [Member] | Fair Value, Inputs, Level 3 [Member] | Measurement Input, Contributory Asset Charges | Valuation Technique, Discounted Cash Flow          
Fair Value Measurement Inputs and Valuation Techniques [Abstract]          
Franchise Rights, Measurement Input 0.055   0.055    
Franchise Rights | Nonrecurring [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | Measurement Input, Discount Rate | Valuation Technique, Discounted Cash Flow          
Fair Value Measurement Inputs and Valuation Techniques [Abstract]          
Franchise Rights, Measurement Input 0.150   0.150    
Franchise Rights | Nonrecurring [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | Measurement Input, Long-term Pretax Loss Margin | Valuation Technique, Discounted Cash Flow          
Fair Value Measurement Inputs and Valuation Techniques [Abstract]          
Franchise Rights, Measurement Input 0.064   0.064    
Franchise Rights | Nonrecurring [Member] | Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | Measurement Input, Contributory Asset Charges | Valuation Technique, Discounted Cash Flow          
Fair Value Measurement Inputs and Valuation Techniques [Abstract]          
Franchise Rights, Measurement Input 0.064   0.064    
Continuing Operations [Member] | Nonrecurring [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Impairment of assets held and used     $ 9,300,000 2,900,000  
Reported Value Measurement [Member] | Continuing Operations [Member]          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Assets held for sale $ 23,600,000   $ 23,600,000 $ 21,300,000  
v3.25.0.1
Commitments and Contingencies (Details)
$ in Millions
Dec. 31, 2024
USD ($)
Commitments and Contingencies Disclosure [Abstract]  
Guarantor obligations, maximum exposure $ 4.0
Total surety bonds, letters of credit, and cash deposits 124.3
Letters of credit, amount outstanding $ 0.8
v3.25.0.1
Business and Credit Concentrations (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Risks and Uncertainties [Abstract]    
Percentage Revenue from stores located in Florida, Texas, California 64.00%  
Manufacturer receivables $ 267.1 $ 240.5
Percentage of new vehicle sales from core brands (percent) 88.00%  
v3.25.0.1
Segment Information (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
segments
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Segment Reporting Information [Line Items]      
Number of reportable segments | segments 4    
Revenues $ 26,765.4 $ 26,948.9 $ 26,985.0
Cost of Sales:      
Cost of sales 21,980.0 21,817.4 21,719.7
Selling, general and administrative expenses:      
Advertising 255.5 243.5 184.3
Selling, General and Administrative Expense, Total 3,263.9 3,253.2 3,026.1
Depreciation and amortization 240.7 220.5 200.3
Floorplan interest expense 218.9 144.7 41.4
Finance income (loss) [Abstract]      
Gain on sale of auto loans receivable 7.4 8.1 0.0
AutoNation finance income (loss) (9.3) (13.9) (37.6)
Corporate and other income and adjustments (311.3) (365.8) (247.9)
Other interest expense (179.7) (181.4) (134.9)
Other non-operating income 9.8 24.4 (14.7)
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 916.7 1,350.2 1,833.5
Capital Expenditures [1] 308.0 416.0 336.2
Segment assets 13,001.7 11,980.0 10,059.7
Segment Reporting, Reconciling Item, Corporate Nonsegment      
Segment Reporting Information [Line Items]      
Revenues 1,328.3 1,228.4 1,029.1
Selling, general and administrative expenses:      
Depreciation and amortization 72.9 60.8 50.7
Floorplan interest expense 6.3 12.0 7.2
Finance income (loss) [Abstract]      
Capital Expenditures [1] 117.9 137.5 106.7
Segment assets [2] 3,460.9 3,500.4 3,195.2
New Vehicle [Member]      
Segment Reporting Information [Line Items]      
Revenues 13,048.2 12,767.4 11,754.4
Cost of Sales:      
Cost of sales 12,272.7 11,705.6 10,387.8
Used Vehicle [Member]      
Segment Reporting Information [Line Items]      
Revenues 7,719.9 8,198.5 9,661.8
Cost of Sales:      
Cost of sales 7,281.4 7,690.5 9,108.7
Parts and Service [Member]      
Segment Reporting Information [Line Items]      
Revenues 4,614.6 4,533.7 4,100.6
Cost of Sales:      
Cost of sales 2,405.6 2,394.4 2,200.3
Product and Service, Other [Member]      
Segment Reporting Information [Line Items]      
Revenues 22.6 30.5 30.9
Cost of Sales:      
Cost of sales 20.3 26.9 22.9
AN Reportable Segments [Member]      
Segment Reporting Information [Line Items]      
Revenues 25,437.1 25,720.5 25,955.9
AN Reportable Segment, Franchised Dealerships [Member] | Operating Segments      
Selling, general and administrative expenses:      
Franchise dealerships - segment income 1,407.2 1,886.9 2,268.6
AN Reportable Segment, Domestic [Member]      
Segment Reporting Information [Line Items]      
Revenues 7,140.3 7,573.2 7,987.5
AN Reportable Segment, Domestic [Member] | Operating Segments      
Segment Reporting Information [Line Items]      
Revenues 7,140.3 7,573.2 7,987.5
Cost of Sales:      
Cost of sales 5,990.8 6,274.0 6,595.9
Selling, general and administrative expenses:      
Compensation 497.2 515.2 535.2
Advertising 68.7 65.6 50.7
Store overhead 200.5 202.2 188.3
Selling, General and Administrative Expense, Total 766.4 783.0 774.2
Depreciation and amortization 44.3 43.6 39.1
Floorplan interest expense 84.0 57.3 14.4
Other income [3] (0.1) (0.1) (1.4)
Franchise dealerships - segment income 254.9 415.4 565.3
Finance income (loss) [Abstract]      
Capital Expenditures [1] 46.5 102.0 32.8
Segment assets 2,407.8 2,507.7 1,974.3
AN Reportable Segment, Domestic [Member] | New Vehicle [Member]      
Segment Reporting Information [Line Items]      
Revenues 3,527.1 3,525.0 3,409.1
AN Reportable Segment, Domestic [Member] | New Vehicle [Member] | Operating Segments      
Cost of Sales:      
Cost of sales 3,389.2 3,301.6 3,094.3
AN Reportable Segment, Domestic [Member] | Used Vehicle [Member]      
Segment Reporting Information [Line Items]      
Revenues 2,057.5 2,428.4 3,022.3
AN Reportable Segment, Domestic [Member] | Used Vehicle [Member] | Operating Segments      
Cost of Sales:      
Cost of sales 1,963.9 2,303.5 2,878.2
AN Reportable Segment, Domestic [Member] | Parts and Service [Member]      
Segment Reporting Information [Line Items]      
Revenues 1,146.0 1,184.7 1,092.7
AN Reportable Segment, Domestic [Member] | Parts and Service [Member] | Operating Segments      
Cost of Sales:      
Cost of sales 632.1 667.4 621.7
AN Reportable Segment, Domestic [Member] | Product and Service, Other [Member]      
Segment Reporting Information [Line Items]      
Revenues 7.2 3.1 3.1
AN Reportable Segment, Domestic [Member] | Product and Service, Other [Member] | Operating Segments      
Cost of Sales:      
Cost of sales 5.6 1.5 1.7
AN Reportable Segment, Import [Member]      
Segment Reporting Information [Line Items]      
Revenues 8,156.9 7,880.9 7,690.3
AN Reportable Segment, Import [Member] | Operating Segments      
Segment Reporting Information [Line Items]      
Revenues 8,156.9 7,880.9 7,690.3
Cost of Sales:      
Cost of sales 6,719.3 6,333.8 6,109.0
Selling, general and administrative expenses:      
Compensation 575.8 578.6 576.8
Advertising 83.8 76.1 61.1
Store overhead 217.7 196.8 168.9
Selling, General and Administrative Expense, Total 877.3 851.5 806.8
Depreciation and amortization 43.9 39.2 35.6
Floorplan interest expense 39.9 21.5 4.8
Other income [3] (0.1) (0.1) (0.1)
Franchise dealerships - segment income 476.6 635.0 734.2
Finance income (loss) [Abstract]      
Capital Expenditures [1] 85.7 106.6 70.1
Segment assets 2,184.8 2,034.6 1,555.6
AN Reportable Segment, Import [Member] | New Vehicle [Member]      
Segment Reporting Information [Line Items]      
Revenues 4,320.0 3,996.0 3,473.0
AN Reportable Segment, Import [Member] | New Vehicle [Member] | Operating Segments      
Cost of Sales:      
Cost of sales 4,066.2 3,644.3 3,054.3
AN Reportable Segment, Import [Member] | Used Vehicle [Member]      
Segment Reporting Information [Line Items]      
Revenues 2,162.5 2,222.2 2,652.7
AN Reportable Segment, Import [Member] | Used Vehicle [Member] | Operating Segments      
Cost of Sales:      
Cost of sales 2,029.9 2,073.3 2,486.8
AN Reportable Segment, Import [Member] | Parts and Service [Member]      
Segment Reporting Information [Line Items]      
Revenues 1,194.7 1,150.1 1,050.9
AN Reportable Segment, Import [Member] | Parts and Service [Member] | Operating Segments      
Cost of Sales:      
Cost of sales 609.5 591.9 549.7
AN Reportable Segment, Import [Member] | Product and Service, Other [Member]      
Segment Reporting Information [Line Items]      
Revenues 8.8 22.5 19.6
AN Reportable Segment, Import [Member] | Product and Service, Other [Member] | Operating Segments      
Cost of Sales:      
Cost of sales 13.7 24.3 18.2
AN Reportable Segment, Premium Luxury [Member]      
Segment Reporting Information [Line Items]      
Revenues 10,139.9 10,266.4 10,278.1
AN Reportable Segment, Premium Luxury [Member] | Operating Segments      
Segment Reporting Information [Line Items]      
Revenues 10,139.9 10,266.4 10,278.1
Cost of Sales:      
Cost of sales 8,286.3 8,316.0 8,259.3
Selling, general and administrative expenses:      
Compensation 648.4 646.2 668.0
Advertising 54.8 55.0 38.0
Store overhead 306.5 281.9 253.9
Selling, General and Administrative Expense, Total 1,009.7 983.1 959.9
Depreciation and amortization 79.6 76.9 74.9
Floorplan interest expense 88.7 53.9 15.0
Other income [3] (0.1) 0.0 (0.1)
Franchise dealerships - segment income 675.7 836.5 969.1
Finance income (loss) [Abstract]      
Capital Expenditures [1] 56.8 69.4 126.5
Segment assets 3,829.9 3,506.8 2,996.8
AN Reportable Segment, Premium Luxury [Member] | New Vehicle [Member]      
Segment Reporting Information [Line Items]      
Revenues 5,201.1 5,246.4 4,872.3
AN Reportable Segment, Premium Luxury [Member] | New Vehicle [Member] | Operating Segments      
Cost of Sales:      
Cost of sales 4,816.8 4,759.6 4,239.5
AN Reportable Segment, Premium Luxury [Member] | Used Vehicle [Member]      
Segment Reporting Information [Line Items]      
Revenues 2,837.0 2,979.5 3,499.8
AN Reportable Segment, Premium Luxury [Member] | Used Vehicle [Member] | Operating Segments      
Cost of Sales:      
Cost of sales 2,685.2 2,803.3 3,311.6
AN Reportable Segment, Premium Luxury [Member] | Parts and Service [Member]      
Segment Reporting Information [Line Items]      
Revenues 1,667.4 1,593.1 1,448.6
AN Reportable Segment, Premium Luxury [Member] | Parts and Service [Member] | Operating Segments      
Cost of Sales:      
Cost of sales 784.2 752.1 705.3
AN Reportable Segment, Premium Luxury [Member] | Product and Service, Other [Member]      
Segment Reporting Information [Line Items]      
Revenues 0.3 1.2 3.6
AN Reportable Segment, Premium Luxury [Member] | Product and Service, Other [Member] | Operating Segments      
Cost of Sales:      
Cost of sales 0.1 1.0 2.9
AN Reportable Segment, AN Finance      
Finance income (loss) [Abstract]      
Interest and fee income 118.4 84.0 20.6
Interest expense (39.8) (20.8) (4.7)
Provision for credit losses (57.5) (45.9) (44.0) [4]
Direct expenses [5] (37.8) (39.3) (9.5)
Gain on sale of auto loans receivable 7.4 8.1 0.0
AutoNation finance income (loss) (9.3) (13.9) (37.6)
AN Reportable Segment, AN Finance | Operating Segments      
Selling, general and administrative expenses:      
Depreciation and amortization 0.0 0.0 0.0
Floorplan interest expense 0.0 0.0 0.0
Finance income (loss) [Abstract]      
Interest and fee income 118.4 84.0 20.6
Interest expense (39.8) (20.8) (4.7)
Provision for credit losses (57.5) (45.9) (44.0)
Direct expenses [5] (37.8) (39.3) (9.5)
Gain on sale of auto loans receivable 7.4 8.1  
AutoNation finance income (loss) (9.3) (13.9) (37.6)
Capital Expenditures 1.1 0.5 0.1
Segment assets $ 1,118.3 $ 430.5 $ 337.8
[1]
(1) Includes accrued construction in progress and excludes property associated with leases entered during the year.
[2]
(2) “Corporate and other” assets include goodwill and franchise rights.
[3]
(2) Other income includes net gains on asset dispositions and legal settlements.
[4]
(1) Reflects activity that occurred after the acquisition of CIG Financial on October 1, 2022. Provision for credit losses includes initial credit loss expense of $34.2 million associated with the auto loans portfolio acquired as part of the acquisition.
[5]
(2) Direct expenses are comprised primarily of compensation expenses and loan administration costs incurred by our auto finance company.
v3.25.0.1
Multiemployer Pension Plans (Details)
$ in Millions
 3 Months Ended 12 Months Ended
Sep. 30, 2024
store
Dec. 31, 2024
USD ($)
numberOfAgreement
store
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Multiemployer Plans [Line Items]        
Number of multiemployer plans in the red zone | store   2    
Number of stores divested | store 1      
Contributions of AutoNation, insignificant plans   $ 0.0 $ 0.1 $ 0.1
Total Contributions   1.4 1.5 1.6
Automotive Industries Pension Plan [Member]        
Multiemployer Plans [Line Items]        
Contributions of AutoNation, significant plans   $ 1.2 1.2 1.3
Surcharge imposed   Yes    
Surcharges paid   $ 0.6 $ 0.6 0.6
Pension protection act zone status   Red Red  
Number of collective-bargaining arrangements that require contributions to the Plan | numberOfAgreement   3    
Potential withdrawal obligation   $ 14.0    
IAM National Pension Plan [Member]        
Multiemployer Plans [Line Items]        
Contributions of AutoNation, significant plans   $ 0.2 $ 0.2 $ 0.2
Surcharge imposed   Yes    
Pension protection act zone status   Red Red  
Number of collective-bargaining arrangements that require contributions to the Plan | numberOfAgreement   1    
Potential withdrawal obligation   $ 4.0    
Dealerships [Member]        
Multiemployer Plans [Line Items]        
Number of stores | store   243    
Dealerships [Member] | Multiemployer Plans, Pension [Member]        
Multiemployer Plans [Line Items]        
Number of stores | store   4