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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
REVENUES:        
New vehicle retail sales $ 1,587,952 $ 1,601,213 $ 4,538,562 $ 4,468,200
Used vehicle retail sales 702,620 687,637 2,106,569 1,993,124
Used vehicle wholesale sales 104,218 100,483 302,089 302,186
Parts and service sales 319,676 303,557 950,341 888,939
Finance, insurance and other, net 108,710 107,679 316,419 307,454
Total revenues 2,823,176 2,800,569 8,213,980 7,959,903
COST OF SALES:        
New vehicle retail sales 1,507,517 1,521,721 4,305,252 4,242,847
Used vehicle retail sales 656,652 641,055 1,963,136 1,854,361
Used vehicle wholesale sales 106,077 102,318 302,551 302,276
Parts and service sales 146,262 137,093 437,153 406,580
Total cost of sales 2,416,508 2,402,187 7,008,092 6,806,064
GROSS PROFIT 406,668 398,382 1,205,888 1,153,839
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES 299,006 289,012 891,692 841,050
DEPRECIATION AND AMORTIZATION EXPENSE 12,891 11,811 38,067 35,441
ASSET IMPAIRMENTS 10,855 916 12,812 1,955
INCOME FROM OPERATIONS 83,916 96,643 263,317 275,393
OTHER EXPENSE:        
Floorplan interest expense (11,135) (9,685) (33,737) (29,046)
Other interest expense, net (17,094) (13,922) (50,729) (42,061)
INCOME BEFORE INCOME TAXES 55,687 73,036 178,851 204,286
PROVISION FOR INCOME TAXES (20,321) (27,775) (62,614) (76,901)
NET INCOME $ 35,366 $ 45,261 $ 116,237 $ 127,385
BASIC EARNINGS PER SHARE $ 1.65 $ 1.88 $ 5.23 $ 5.26
Weighted average common shares outstanding 20,568 23,132 21,355 23,294
DILUTED EARNINGS PER SHARE $ 1.65 $ 1.88 $ 5.22 $ 5.26
Weighted average common shares outstanding 20,578 23,137 21,364 23,298
CASH DIVIDENDS PER COMMON SHARE $ 0.23 $ 0.21 $ 0.68 $ 0.61