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Unaudited Condensed Consolidated Income Statements - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
TOTAL REVENUE $ 5,343.8 $ 5,392.0 $ 10,325.6 $ 10,651.9
TOTAL COST OF SALES (excluding depreciation shown below) 4,453.0 4,540.2 8,585.6 8,957.8
TOTAL GROSS PROFIT 890.8 851.8 1,740.0 1,694.1
Selling, general, and administrative expenses 637.0 625.3 1,260.0 1,252.1
Depreciation and amortization 44.4 41.1 88.5 81.1
Franchise rights impairment 9.6 8.1 9.6 8.1
Other income, net (3.7) (13.9) (12.4) (24.2)
OPERATING INCOME 203.5 191.2 394.3 377.0
Non-operating income (expense) items:        
Floorplan interest expense (37.4) (32.4) (76.4) (60.7)
Other interest expense (27.7) (29.7) (55.5) (62.0)
Interest income 0.1 0.3 0.3 0.5
Other income (loss), net (0.3) 0.2 1.6 1.0
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 138.2 129.6 264.3 255.8
Income tax provision 37.2 32.2 71.2 65.1
NET INCOME FROM CONTINUING OPERATIONS 101.0 97.4 193.1 190.7
Income (loss) from discontinued operations, net of income taxes (0.2) 0.2 (0.3) 0.6
NET INCOME $ 100.8 $ 97.6 $ 192.8 $ 191.3
BASIC EARNINGS (LOSS) PER SHARE:        
Continuing operations (in dollars per share) [1] $ 1.12 $ 1.07 $ 2.14 $ 2.09
Discontinued operations (in dollars per share) [1] 0 0 0 0.01
Net income (in dollars per share) [1] $ 1.12 $ 1.08 $ 2.14 $ 2.09
Weighted average common shares outstanding (in shares) 89.9 90.7 90.2 91.4
DILUTED EARNINGS (LOSS) PER SHARE:        
Continuing operations (in dollars per share) [1] $ 1.12 $ 1.07 $ 2.14 $ 2.08
Discontinued operations (in dollars per share) [1] 0 0 0 0.01
Net income (in dollars per share) [1] $ 1.12 $ 1.07 $ 2.13 $ 2.08
Weighted average common shares outstanding (in shares) 90.2 91.2 90.4 91.9
COMMON SHARES OUTSTANDING, net of treasury stock, at period end (in shares) 89.1 89.8 89.1 89.8
New Vehicle [Member]        
TOTAL REVENUE $ 2,769.6 $ 2,949.6 $ 5,266.3 $ 5,751.9
TOTAL COST OF SALES (excluding depreciation shown below) 2,644.1 2,824.8 5,018.9 5,497.4
TOTAL GROSS PROFIT 125.5 124.8 247.4 254.5
Used Vehicle [Member]        
TOTAL REVENUE 1,379.4 1,298.7 2,719.0 2,629.2
TOTAL COST OF SALES (excluding depreciation shown below) 1,282.6 1,207.5 2,531.7 2,452.2
TOTAL GROSS PROFIT 96.8 91.2 187.3 177.0
Parts and Service [Member]        
TOTAL REVENUE 901.5 857.1 1,778.2 1,715.6
TOTAL COST OF SALES (excluding depreciation shown below) 489.6 469.8 967.4 942.8
TOTAL GROSS PROFIT 411.9 387.3 810.8 772.8
Finance and Insurance, Net [Member]        
TOTAL REVENUE 255.2 247.8 491.7 488.6
TOTAL GROSS PROFIT 255.2 247.8 491.7 488.6
Product and Service, Other [Member]        
TOTAL REVENUE 38.1 38.8 70.4 66.6
TOTAL COST OF SALES (excluding depreciation shown below) 36.7 38.1 67.6 65.4
TOTAL GROSS PROFIT $ 1.4 $ 0.7 $ 2.8 $ 1.2
[1] Earnings per share amounts are calculated discretely and therefore may not add up to the total due to rounding.