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Unaudited Condensed Consolidated Income Statements - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
TOTAL REVENUE $ 5,392.0 $ 5,279.3 $ 10,651.9 $ 10,418.7
TOTAL COST OF SALES (excluding depreciation shown below) 4,540.2 4,453.2 8,957.8 8,772.8
TOTAL GROSS PROFIT 851.8 826.1 1,694.1 1,645.9
Selling, general, and administrative expenses 625.3 611.3 1,252.1 1,206.6
Depreciation and amortization 41.1 39.3 81.1 76.6
Franchise rights impairment 8.1 0.0 8.1 0.0
Other income, net (13.9) (20.7) (24.2) (40.2)
OPERATING INCOME 191.2 196.2 377.0 402.9
Non-operating income (expense) items:        
Floorplan interest expense (32.4) (24.1) (60.7) (45.6)
Other interest expense (29.7) (29.2) (62.0) (58.0)
Interest income 0.3 0.2 0.5 0.6
Other income, net 0.2 1.8 1.0 4.8
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 129.6 144.9 255.8 304.7
Income tax provision 32.2 57.2 65.1 118.8
NET INCOME FROM CONTINUING OPERATIONS 97.4 87.7 190.7 185.9
Income (loss) from discontinued operations, net of income taxes 0.2 0.0 0.6 (0.1)
NET INCOME $ 97.6 $ 87.7 $ 191.3 $ 185.8
BASIC EARNINGS (LOSS) PER SHARE:        
Continuing operations (in dollars per share) [1] $ 1.07 $ 0.87 $ 2.09 $ 1.84
Discontinued operations (in dollars per share) [1] 0.00 0.00 0.01 0.00
Net income (in dollars per share) [1] $ 1.08 $ 0.87 $ 2.09 $ 1.84
Weighted average common shares outstanding (in shares) 90.7 101.2 91.4 101.1
DILUTED EARNINGS (LOSS) PER SHARE:        
Continuing operations (in dollars per share) [1] $ 1.07 $ 0.86 $ 2.08 $ 1.83
Discontinued operations (in dollars per share) [1] 0.00 0.00 0.01 0.00
Net income (in dollars per share) [1] $ 1.07 $ 0.86 $ 2.08 $ 1.83
Weighted average common shares outstanding (in shares) 91.2 101.5 91.9 101.6
COMMON SHARES OUTSTANDING, net of treasury stock, at period end (in shares) 89.8 100.4 89.8 100.4
New Vehicle [Member]        
TOTAL REVENUE $ 2,949.6 $ 2,930.9 $ 5,751.9 $ 5,727.1
TOTAL COST OF SALES (excluding depreciation shown below) 2,824.8 2,792.7 5,497.4 5,444.6
TOTAL GROSS PROFIT 124.8 138.2 254.5 282.5
Used Vehicle [Member]        
TOTAL REVENUE 1,298.7 1,201.1 2,629.2 2,442.0
TOTAL COST OF SALES (excluding depreciation shown below) 1,207.5 1,126.6 2,452.2 2,290.5
TOTAL GROSS PROFIT 91.2 74.5 177.0 151.5
Parts and Service [Member]        
TOTAL REVENUE 857.1 857.5 1,715.6 1,702.6
TOTAL COST OF SALES (excluding depreciation shown below) 469.8 479.9 942.8 954.0
TOTAL GROSS PROFIT 387.3 377.6 772.8 748.6
Finance and Insurance, Net [Member]        
TOTAL REVENUE 247.8 228.8 488.6 450.4
TOTAL GROSS PROFIT 247.8 228.8 488.6 450.4
Other Goods and Services [Member]        
TOTAL REVENUE 38.8 61.0 66.6 96.6
TOTAL COST OF SALES (excluding depreciation shown below) 38.1 54.0 65.4 83.7
TOTAL GROSS PROFIT $ 0.7 $ 7.0 $ 1.2 $ 12.9
[1] Earnings per share amounts are calculated discretely and therefore may not add up to the total due to rounding.