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v3.8.0.1

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016
Revenues: |  |  |  |
Total revenues | $ 2,680,342 | $ 2,269,967 | $ 7,383,479 | $ 6,386,167
Cost of sales: |  |  |  |
Total cost of sales | 2,277,321 | 1,932,706 | 6,263,535 | 5,419,688
Gross profit | 403,021 | 337,261 | 1,119,944 | 966,479
Asset impairments | 0 | 3,498 | 0 | 10,494
Selling, general and administrative | 282,241 | 228,134 | 782,303 | 662,766
Depreciation and amortization | 14,828 | 12,206 | 41,598 | 36,372
Operating income | 105,952 | 93,423 | 296,043 | 256,847
Floor plan interest expense | (10,629) | (6,186) | (28,013) | (18,304)
Other interest expense, net | (9,905) | (5,647) | (23,745) | (16,608)
Other income (expense), net | 1,125 | (1,513) | 11,357 | (4,534)
Income before income taxes | 86,543 | 80,077 | 255,642 | 217,401
Income tax provision | (34,657) | (26,036) | (99,829) | (71,662)
Net income | $ 51,886 | $ 54,041 | $ 155,813 | $ 145,739
Basic net income per share (in dollars per share) | $ 2.07 | $ 2.15 | $ 6.21 | $ 5.72
Shares used in basic per share calculations (in shares) | 25,008 | 25,194 | 25,090 | 25,490
Diluted net income per share (in dollars per share) | $ 2.07 | $ 2.14 | $ 6.19 | $ 5.69
Shares used in diluted per share calculations (in shares) | 25,076 | 25,290 | 25,158 | 25,598
Cash dividends declared per Class A and Class B share (in dollars per share) | $ 0.27 | $ 0.25 | $ 0.79 | $ 0.7
New vehicle |  |  |  |
Revenues: |  |  |  |
Total revenues | $ 1,553,511 | $ 1,297,511 | $ 4,147,870 | $ 3,602,603
Cost of sales: |  |  |  |
Total cost of sales | 1,465,466 | 1,221,668 | 3,909,168 | 3,387,132
Used vehicle retail |  |  |  |
Revenues: |  |  |  |
Total revenues | 679,180 | 580,885 | 1,915,038 | 1,667,258
Cost of sales: |  |  |  |
Total cost of sales | 600,522 | 512,076 | 1,693,091 | 1,466,947
Used vehicle wholesale |  |  |  |
Revenues: |  |  |  |
Total revenues | 65,739 | 75,271 | 206,754 | 207,131
Cost of sales: |  |  |  |
Total cost of sales | 64,565 | 74,353 | 202,351 | 202,897
Finance and insurance |  |  |  |
Revenues: |  |  |  |
Total revenues | 101,044 | 87,709 | 282,672 | 246,390
Service, body and parts |  |  |  |
Revenues: |  |  |  |
Total revenues | 265,683 | 217,148 | 744,262 | 616,088
Cost of sales: |  |  |  |
Total cost of sales | 133,191 | 112,806 | 376,096 | 317,028
Fleet and other |  |  |  |
Revenues: |  |  |  |
Total revenues | 15,185 | 11,443 | 86,883 | 46,697
Cost of sales: |  |  |  |
Total cost of sales | $ 13,577 | $ 11,803 | $ 82,829 | $ 45,684

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