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Unaudited Condensed Consolidated Income Statements - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
TOTAL REVENUE $ 5,349.2 $ 5,432.4 $ 16,001.1 $ 15,851.1
TOTAL COST OF SALES (excluding depreciation shown below) 4,493.9 4,586.5 13,451.7 13,359.3
TOTAL GROSS PROFIT 855.3 845.9 2,549.4 2,491.8
Selling, general, and administrative expenses 626.2 607.5 1,878.3 1,814.1
Depreciation and amortization 42.9 41.4 124.0 118.0
Franchise rights impairment 0.0 0.0 8.1 0.0
Other income, net (17.4) (14.2) (41.6) (54.4)
OPERATING INCOME 203.6 211.2 580.6 614.1
Non-operating income (expense) items:        
Floorplan interest expense (32.7) (25.1) (93.4) (70.7)
Other interest expense (28.4) (30.0) (90.4) (88.0)
Interest income 0.3 0.2 0.8 0.8
Other income, net 2.3 1.6 3.3 6.4
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 145.1 157.9 400.9 462.6
Income tax provision 32.8 60.3 97.9 179.1
NET INCOME FROM CONTINUING OPERATIONS 112.3 97.6 303.0 283.5
Income (loss) from discontinued operations, net of income taxes (0.3) (0.1) 0.3 (0.2)
NET INCOME $ 112.0 $ 97.5 $ 303.3 $ 283.3
BASIC EARNINGS (LOSS) PER SHARE:        
Continuing operations (in dollars per share) [1] $ 1.24 $ 1.00 $ 3.33 $ 2.84
Discontinued operations (in dollars per share) [1] 0 0 0 0
Net income (in dollars per share) [1] $ 1.24 $ 1.00 $ 3.33 $ 2.84
Weighted average common shares outstanding (in shares) 90.4 97.3 91.1 99.9
DILUTED EARNINGS (LOSS) PER SHARE:        
Continuing operations (in dollars per share) [1] $ 1.24 $ 1.00 $ 3.31 $ 2.83
Discontinued operations (in dollars per share) [1] 0 0 0 0
Net income (in dollars per share) [1] $ 1.23 $ 1.00 $ 3.31 $ 2.82
Weighted average common shares outstanding (in shares) 90.8 97.7 91.6 100.3
COMMON SHARES OUTSTANDING, net of treasury stock, at period end (in shares) 89.9 91.2 89.9 91.2
New Vehicle [Member]        
TOTAL REVENUE $ 2,933.1 $ 3,108.4 $ 8,685.0 $ 8,835.5
TOTAL COST OF SALES (excluding depreciation shown below) 2,807.7 2,963.6 8,305.1 8,408.2
TOTAL GROSS PROFIT 125.4 144.8 379.9 427.3
Used Vehicle [Member]        
TOTAL REVENUE 1,281.7 1,228.3 3,910.9 3,670.3
TOTAL COST OF SALES (excluding depreciation shown below) 1,190.7 1,142.6 3,642.9 3,433.1
TOTAL GROSS PROFIT 91.0 85.7 268.0 237.2
Parts and Service [Member]        
TOTAL REVENUE 864.0 841.6 2,579.6 2,544.2
TOTAL COST OF SALES (excluding depreciation shown below) 473.4 474.2 1,416.2 1,428.2
TOTAL GROSS PROFIT 390.6 367.4 1,163.4 1,116.0
Finance and Insurance, Net [Member]        
TOTAL REVENUE 247.4 241.6 736.0 692.0
TOTAL GROSS PROFIT 247.4 241.6 736.0 692.0
Product and Service, Other [Member]        
TOTAL REVENUE 23.0 12.5 89.6 109.1
TOTAL COST OF SALES (excluding depreciation shown below) 22.1 6.1 87.5 89.8
TOTAL GROSS PROFIT $ 0.9 $ 6.4 $ 2.1 $ 19.3
[1] Earnings per share amounts are calculated discretely and therefore may not add up to the total due to rounding.