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What is the free cash flow Ratio? Consolidated Statements of Cash Flows - USD ($) $ in Millions 12 Months Ended Dec. 31, 2019 Dec.

What is the free cash flow Ratio?

Consolidated Statements of Cash Flows - USD ($) $ in Millions 12 Months Ended
Dec. 31, 2019 Dec. 31, 2018 Dec. 31, 2017
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES:
Net income $ 450 $ 396 $ 434.6
Adjustments to reconcile net income to net cash provided by operating activities:
(Increase) decrease, net of effects from business combinations and divestitures:
Receivables 56.2 133.7 (61.6)
Inventory 296 (319.5) 39.3
Other assets 49.5 (107.9) (37)
Increase (decrease), net of effects from business combinations and divestitures:
Vehicle floorplan payable-trade, net (240.6) 242.4 (64.4)
Accounts payable (17.6) 1.7 0.5
Other liabilities (22.1) (2) 139.1
Net cash provided by continuing operations 769.2 510.4 540.4
Net cash provided by (used in) discontinued operations 0 0.6 (0.3)
Net cash provided by operating activities 769.2 511 540.1
CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES:
Purchases of property and equipment (269.3) (400.8) (313.4)
Proceeds from the sale of property and equipment 1 28 21
Proceeds from the disposal of assets held for sale 38 21.1 38
Insurance recoveries on property and equipment 3.5 1.1 1.7
Cash used in business acquisitions, net of cash acquired (4.7) (67.2) (76.8)
Cash received from business divestitures, net of cash relinquished 115.6 173.2 104.6
Investment in equity security 0 (50) 0
Other 0.1 (0.7) (2.1)

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