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CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019
Revenue: |  |  |  |
Total revenues | $ 3,651.1 | $ 5,755.8 | $ 8,660.2 | $ 11,320.2
Cost of sales: |  |  |  |
Total cost of sales | 3,098.2 | 4,888.0 | 7,330.6 | 9,600.9
Gross profit | 552.9 | 867.8 | 1,329.6 | 1,719.3
Selling, general and administrative expenses | 453.6 | 668.9 | 1,095.4 | 1,335.3
Depreciation | 27.9 | 27.1 | 56.4 | 53.5
Operating income | 71.4 | 171.8 | 177.8 | 330.5
Floor plan interest expense | (11.7) | (21.0) | (29.4) | (42.8)
Other interest expense | (28.4) | (30.4) | (60.1) | (60.3)
Equity in earnings of affiliates | 29.9 | 39.5 | 44.4 | 66.3
Income from continuing operations before income taxes | 61.2 | 159.9 | 132.7 | 293.7
Income taxes | (16.5) | (41.5) | (36.6) | (76.2)
Income from continuing operations | 44.7 | 118.4 | 96.1 | 217.5
Income from discontinued operations, net of tax | 0.1 | 0.1 | 0.2 | 0.2
Net income | 44.8 | 118.5 | 96.3 | 217.7
Less: (Loss) Income attributable to non-controlling interests | (0.3) | 0.7 | (0.5) | (0.3)
Net income attributable to Penske Automotive Group common stockholders | $ 45.1 | $ 117.8 | $ 96.8 | $ 218.0
Basic earnings per share attributable to Penske Automotive Group common stockholders: |  |  |  |
Continuing operations (in dollars per share) | $ 0.56 | $ 1.42 | $ 1.20 | $ 2.61
Discontinued operations (in dollars per share) |  |  |  |
Net income attributable to Penske Automotive Group common stockholders (in dollars per share) | $ 0.56 | $ 1.42 | $ 1.20 | $ 2.61
Shares used in determining basic earnings per share (in shares) | 80,421,478 | 82,872,330 | 80,731,889 | 83,625,142
Diluted earnings per share attributable to Penske Automotive Group common stockholders: |  |  |  |
Continuing operations (in dollars per share) | $ 0.56 | $ 1.42 | $ 1.20 | $ 2.60
Discontinued operations (in dollars per share) |  |  |  |
Net income attributable to Penske Automotive Group common stockholders (in dollars per share) | $ 0.56 | $ 1.42 | $ 1.20 | $ 2.61
Shares used in determining diluted earnings per share (in shares) | 80,461,478 | 82,912,330 | 80,771,889 | 83,665,142
Amounts attributable to Penske Automotive Group common stockholders: |  |  |  |
Income from continuing operations | $ 44.7 | $ 118.4 | $ 96.1 | $ 217.5
Less: (Loss) Income attributable to non-controlling interests | (0.3) | 0.7 | (0.5) | (0.3)
Income from continuing operations, net of tax | 45.0 | 117.7 | 96.6 | 217.8
Income from discontinued operations, net of tax | 0.1 | 0.1 | 0.2 | 0.2
Net income attributable to Penske Automotive Group common stockholders | 45.1 | $ 117.8 | $ 96.8 | $ 218.0
Cash dividends per share (in dollars per share) |  | $ 0.39 | $ 0.42 | $ 0.77
Retail Automotive Dealership |  |  |  |
Revenue: |  |  |  |
Total revenues | 3,153.5 | $ 5,196.3 | $ 7,570.1 | $ 10,287.5
Cost of sales: |  |  |  |
Total cost of sales | 2,687.2 | 4,421.4 | 6,425.7 | 8,751.1
Retail Commercial Truck Dealership |  |  |  |
Revenue: |  |  |  |
Total revenues | 399.2 | 426.8 | 890.6 | 759.1
Cost of sales: |  |  |  |
Total cost of sales | 339.0 | 368.3 | 761.6 | 646.2
Commercial Vehicle Distribution and Other |  |  |  |
Revenue: |  |  |  |
Total revenues | 98.4 | 132.7 | 199.5 | 273.6
Cost of sales: |  |  |  |
Total cost of sales | $ 72.0 | $ 98.3 | $ 143.3 | $ 203.6

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