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CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015
Revenue: |  |  |  |
Total revenues | $ 5,152.0 | $ 4,960.1 | $ 15,230.7 | $ 14,363.6
Cost of sales: |  |  |  |
Total cost of sales | 4,407.8 | 4,230.9 | 12,991.4 | 12,213.2
Gross profit | 744.2 | 729.2 | 2,239.3 | 2,150.4
Selling, general and administrative expenses | 581.2 | 563.4 | 1,722.8 | 1,652.3
Depreciation | 21.5 | 19.8 | 66.8 | 57.7
Operating income | 141.5 | 146.0 | 449.7 | 440.4
Floor plan interest expense | (11.9) | (11.4) | (37.8) | (32.7)
Other interest expense | (25.1) | (16.3) | (61.8) | (49.0)
Equity in earnings of affiliates | 25.6 | 11.0 | 43.1 | 29.7
Income from continuing operations before income taxes | 130.1 | 129.3 | 393.2 | 388.4
Income taxes | (41.7) | (41.7) | (128.4) | (128.2)
Income from continuing operations | 88.4 | 87.6 | 264.8 | 260.2
Income (loss) from discontinued operations, net of tax | 0.1 | (0.1) | (1.1) | (1.1)
Net income | 88.5 | 87.5 | 263.7 | 259.1
Less: Income attributable to non-controlling interests | 1.0 | 0.9 | 3.4 | 3.3
Net income attributable to Penske Automotive Group common stockholders | $ 87.5 | $ 86.6 | $ 260.3 | $ 255.8
Basic earnings per share attributable to Penske Automotive Group common stockholders: |  |  |  |
Continuing operations (in dollars per share) | $ 1.03 | $ 0.96 | $ 3.03 | $ 2.85
Discontinued operations (in dollars per share) | 0.00 | 0.00 | (0.01) | (0.01)
Net income attributable to Penske Automotive Group common stockholders (in dollars per share) | $ 1.03 | $ 0.96 | $ 3.02 | $ 2.84
Shares used in determining basic earnings per share (in shares) | 85.2 | 90.1 | 86.2 | 90.2
Diluted earnings per share attributable to Penske Automotive Group common stockholders: |  |  |  |
Continuing operations (in dollars per share) | $ 1.03 | $ 0.96 | $ 3.03 | $ 2.85
Discontinued operations (in dollars per share) | 0.00 | 0.00 | (0.01) | (0.01)
Net income attributable to Penske Automotive Group common stockholders (in dollars per share) | $ 1.03 | $ 0.96 | $ 3.02 | $ 2.84
Shares used in determining diluted earnings per share (in shares) | 85.2 | 90.1 | 86.3 | 90.2
Amounts attributable to Penske Automotive Group common stockholders: |  |  |  |
Income from continuing operations | $ 88.4 | $ 87.6 | $ 264.8 | $ 260.2
Less: Income attributable to non-controlling interests | 1.0 | 0.9 | 3.4 | 3.3
Income from continuing operations, net of tax | 87.4 | 86.7 | 261.4 | 256.9
Income (loss) from discontinued operations, net of tax | 0.1 | (0.1) | (1.1) | (1.1)
Net income attributable to Penske Automotive Group common stockholders | $ 87.5 | $ 86.6 | $ 260.3 | $ 255.8
Cash dividends per share (in dollars per share) | $ 0.28 | $ 0.24 | $ 0.81 | $ 0.69
Retail Automotive Dealership |  |  |  |
Revenue: |  |  |  |
Total revenues | $ 4,772.1 | $ 4,585.8 | $ 14,121.8 | $ 13,327.5
Cost of sales: |  |  |  |
Total cost of sales | 4,097.4 | 3,923.4 | 12,080.1 | 11,373.2
Retail Commercial Truck Dealership |  |  |  |
Revenue: |  |  |  |
Total revenues | 266.1 | 268.5 | 782.3 | 703.1
Cost of sales: |  |  |  |
Total cost of sales | 227.9 | 228.5 | 672.6 | 592.0
Commercial Vehicle Distribution and Other |  |  |  |
Revenue: |  |  |  |
Total revenues | 113.8 | 105.8 | 326.6 | 333.0
Cost of sales: |  |  |  |
Total cost of sales | $ 82.5 | $ 79.0 | $ 238.7 | $ 248.0

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