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Unaudited Condensed Consolidated Income Statements - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
TOTAL REVENUE $ 5,461.2 $ 5,349.2 $ 15,786.8 $ 16,001.1
TOTAL COST OF SALES (excluding depreciation shown below) 4,573.8 4,493.9 13,159.4 13,451.7
TOTAL GROSS PROFIT 887.4 855.3 2,627.4 2,549.4
Selling, general, and administrative expenses 653.8 626.2 1,913.8 1,878.3
Depreciation and amortization 45.2 42.9 133.7 124.0
Franchise rights impairment 0.0 0.0 9.6 8.1
Other income, net (5.1) (17.4) (17.5) (41.6)
OPERATING INCOME 193.5 203.6 587.8 580.6
Non-operating income (expense) items:        
Floorplan interest expense (33.0) (32.7) (109.4) (93.4)
Other interest expense (26.1) (28.4) (81.6) (90.4)
Interest income 0.1 0.3 0.4 0.8
Other income, net 2.6 2.3 4.2 3.3
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 137.1 145.1 401.4 400.9
Income tax provision 37.1 32.8 108.3 97.9
NET INCOME FROM CONTINUING OPERATIONS 100.0 112.3 293.1 303.0
Income (loss) from discontinued operations, net of income taxes (0.5) (0.3) (0.8) 0.3
NET INCOME $ 99.5 $ 112.0 $ 292.3 $ 303.3
BASIC EARNINGS (LOSS) PER SHARE:        
Continuing operations (in dollars per share) [1] $ 1.11 $ 1.24 $ 3.25 $ 3.33
Discontinued operations (in dollars per share) [1] (0.01) 0 (0.01) 0
Net income (in dollars per share) [1] $ 1.11 $ 1.24 $ 3.24 $ 3.33
Weighted average common shares outstanding (in shares) 89.9 90.4 90.1 91.1
DILUTED EARNINGS (LOSS) PER SHARE:        
Continuing operations (in dollars per share) [1] $ 1.11 $ 1.24 $ 3.24 $ 3.31
Discontinued operations (in dollars per share) [1] (0.01) 0 (0.01) 0
Net income (in dollars per share) [1] $ 1.10 $ 1.23 $ 3.23 $ 3.31
Weighted average common shares outstanding (in shares) 90.4 90.8 90.4 91.6
COMMON SHARES OUTSTANDING, net of treasury stock, at period end (in shares) 89.2 89.9 89.2 89.9
New Vehicle [Member]        
TOTAL REVENUE $ 2,874.8 $ 2,933.1 $ 8,141.1 $ 8,685.0
TOTAL COST OF SALES (excluding depreciation shown below) 2,755.9 2,807.7 7,774.8 8,305.1
TOTAL GROSS PROFIT 118.9 125.4 366.3 379.9
Used Vehicle [Member]        
TOTAL REVENUE 1,402.9 1,281.7 4,121.9 3,910.9
TOTAL COST OF SALES (excluding depreciation shown below) 1,310.6 1,190.7 3,842.3 3,642.9
TOTAL GROSS PROFIT 92.3 91.0 279.6 268.0
Parts and Service [Member]        
TOTAL REVENUE 902.6 864.0 2,680.8 2,579.6
TOTAL COST OF SALES (excluding depreciation shown below) 493.6 473.4 1,461.0 1,416.2
TOTAL GROSS PROFIT 409.0 390.6 1,219.8 1,163.4
Finance and Insurance, Net [Member]        
TOTAL REVENUE 266.2 247.4 757.9 736.0
TOTAL GROSS PROFIT 266.2 247.4 757.9 736.0
Product and Service, Other [Member]        
TOTAL REVENUE 14.7 23.0 85.1 89.6
TOTAL COST OF SALES (excluding depreciation shown below) 13.7 22.1 81.3 87.5
TOTAL GROSS PROFIT $ 1.0 $ 0.9 $ 3.8 $ 2.1
[1] Earnings per share amounts are calculated discretely and therefore may not add up to the total due to rounding.