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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