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Earnings Per Share (Tables) | 6 Months Ended
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Jun. 30, 2024
Earnings Per Share [Abstract] |
Basic and Diluted Earnings Per Share | The following table presents the calculation of basic and diluted EPS:
| Three Months Ended |  | Six Months Ended
| June 30, |  | June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Net income from continuing operations | $ | 130.2 |  |  | $ | 272.5 |  |  | $ | 320.3 |  |  | $ | 560.3 |
Income from discontinued operations, net of income taxes | — |  |  | — |  |  | — |  |  | 0.9 |
Net income | $ | 130.2 |  |  | $ | 272.5 |  |  | $ | 320.3 |  |  | $ | 561.2 |
Basic weighted average common shares outstanding | 40.4 |  |  | 45.0 |  |  | 41.2 |  |  | 46.1 |
Dilutive effect of unvested RSUs and stock options | 0.3 |  |  | 0.3 |  |  | 0.3 |  |  | 0.3 |
Diluted weighted average common shares outstanding | 40.7 |  |  | 45.3 |  |  | 41.5 |  |  | 46.4 |
Basic EPS amounts(1): |  |  |  |  |  |  |
Continuing operations | $ | 3.22 |  |  | $ | 6.06 |  |  | $ | 7.77 |  |  | $ | 12.15 |
Discontinued operations | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 0.02 |
Net income | $ | 3.22 |  |  | $ | 6.06 |  |  | $ | 7.77 |  |  | $ | 12.17 |
Diluted EPS amounts(1): |  |  |  |  |  |  |
Continuing operations | $ | 3.20 |  |  | $ | 6.02 |  |  | $ | 7.72 |  |  | $ | 12.08 |
Discontinued operations | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 0.02 |
Net income | $ | 3.20 |  |  | $ | 6.02 |  |  | $ | 7.72 |  |  | $ | 12.09 |
(1) EPS amounts are calculated discretely and, therefore, may not add up to the total due to rounding.
In June 2024, our business was impacted by an outage of our dealer management system provided by CDK Global, which is used to support our dealership operations, including our sales, service, inventory, customer relationship management, and accounting functions. As a result, our results of operations and earnings per share for the three and six months ended June 30, 2024, were negatively impacted by lost income from the disruption to our operations and one-time compensation costs paid to commission-based associates to ensure business continuity.
Anti-Dilutive Equity Instruments Excluded From The Computation Of Diluted EPS | A summary of anti-dilutive equity instruments excluded from the computation of diluted EPS is as follows:
| Three Months Ended |  | Six Months Ended
| June 30, |  | June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Anti-dilutive equity instruments excluded from the computation of diluted EPS | — |  |  | — |  |  | 0.1 |  |  | — |

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- Definition Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 + Details
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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 + Details
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