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v3.7.0.1

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016
Revenues: |  |  |  |
Total revenues | $ 2,467,036 | $ 2,133,339 | $ 4,703,137 | $ 4,116,200
Cost of sales: |  |  |  |
Total cost of sales | 2,091,765 | 1,811,303 | 3,986,214 | 3,486,982
Gross profit | 375,271 | 322,036 | 716,923 | 629,218
Asset impairments | 0 | 3,498 | 0 | 6,996
Selling, general and administrative | 257,290 | 215,526 | 500,062 | 434,632
Depreciation and amortization | 14,031 | 12,503 | 26,770 | 24,166
Operating income | 103,950 | 90,509 | 190,091 | 163,424
Floor plan interest expense | (9,332) | (6,209) | (17,384) | (12,118)
Other interest expense, net | (7,169) | (5,502) | (13,840) | (10,961)
Other income (expense), net | 387 | (1,495) | 10,232 | (3,021)
Income before income taxes | 87,836 | 77,303 | 169,099 | 137,324
Income tax provision | (34,636) | (25,875) | (65,172) | (45,626)
Net income | $ 53,200 | $ 51,428 | $ 103,927 | $ 91,698
Basic net income per share (in dollars per share) | $ 2.12 | $ 2.02 | $ 4.14 | $ 3.58
Shares used in basic per share calculations (in shares) | 25,053 | 25,462 | 25,116 | 25,639
Diluted net income per share (in dollars per share) | $ 2.12 | $ 2.01 | $ 4.13 | $ 3.56
Shares used in diluted per share calculations (in shares) | 25,106 | 25,534 | 25,177 | 25,754
Cash dividends declared per Class A and Class B share (in dollars per share) | $ 0.27 | $ 0.25 | $ 0.52 | $ 0.45
New vehicle |  |  |  |
Revenues: |  |  |  |
Total revenues | $ 1,384,055 | $ 1,209,037 | $ 2,594,359 | $ 2,305,092
Cost of sales: |  |  |  |
Total cost of sales | 1,303,516 | 1,136,175 | 2,443,702 | 2,165,464
Used vehicle retail |  |  |  |
Revenues: |  |  |  |
Total revenues | 633,635 | 553,647 | 1,235,858 | 1,086,373
Cost of sales: |  |  |  |
Total cost of sales | 559,129 | 486,422 | 1,092,569 | 954,871
Used vehicle wholesale |  |  |  |
Revenues: |  |  |  |
Total revenues | 69,512 | 66,714 | 141,015 | 131,860
Cost of sales: |  |  |  |
Total cost of sales | 67,800 | 65,228 | 137,786 | 128,544
Finance and insurance |  |  |  |
Revenues: |  |  |  |
Total revenues | 94,851 | 81,043 | 181,628 | 158,681
Service, body and parts |  |  |  |
Revenues: |  |  |  |
Total revenues | 246,005 | 202,265 | 478,579 | 398,940
Cost of sales: |  |  |  |
Total cost of sales | 123,525 | 103,666 | 242,905 | 204,222
Fleet and other |  |  |  |
Revenues: |  |  |  |
Total revenues | 38,978 | 20,633 | 71,698 | 35,254
Cost of sales: |  |  |  |
Total cost of sales | $ 37,795 | $ 19,812 | $ 69,252 | $ 33,881

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