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v3.10.0.1

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016
REVENUES | $ 11,601,358 | $ 11,123,721 | $ 10,887,612
COST OF SALES | 9,876,265 | 9,478,212 | 9,292,543
GROSS PROFIT | 1,725,093 | 1,645,509 | 1,595,069
Selling, general and administrative expenses | 1,273,057 | 1,226,195 | 1,170,763
Depreciation and amortization expense | 67,070 | 57,936 | 51,234
Asset impairments | 43,883 | 19,506 | 32,838
INCOME (LOSS) FROM OPERATIONS | 341,083 | 341,872 | 340,234
OTHER INCOME (EXPENSE): |  |  |
Floorplan interest expense | (59,882) | (52,372) | (44,927)
Other interest expense, net | (75,798) | (70,497) | (67,936)
INCOME (LOSS) BEFORE INCOME TAXES | 205,403 | 219,003 | 227,371
Benefit (provision) for income taxes | (47,631) | (5,561) | (80,306)
NET INCOME (LOSS) | $ 157,772 | $ 213,442 | $ 147,065
BASIC EARNINGS (LOSS) PER SHARE (in dollars per share) | $ 7.83 | $ 10.08 | $ 6.67
Weighted average common shares outstanding (in shares) | 19,453 | 20,420 | 21,161
DILUTED EARNINGS (LOSS) PER SHARE (in dollars per share) | $ 7.83 | $ 10.08 | $ 6.67
Weighted average common shares outstanding (in shares) | 19,461 | 20,425 | 21,170
CASH DIVIDENDS PER COMMON SHARE (in dollars per share) | $ 1.04 | $ 0.97 | $ 0.91
New vehicle retail sales |  |  |
REVENUES | $ 6,181,371 | $ 6,157,531 | $ 6,046,075
COST OF SALES | 5,870,502 | 5,835,526 | 5,729,697
Used vehicle retail sales |  |  |
REVENUES | 3,166,070 | 2,798,986 | 2,757,713
COST OF SALES | 2,980,142 | 2,621,431 | 2,575,234
Used vehicle wholesale sales |  |  |
REVENUES | 369,575 | 400,170 | 401,863
COST OF SALES | 367,880 | 402,912 | 406,305
Parts and service sales |  |  |
REVENUES | 1,416,889 | 1,338,032 | 1,261,307
COST OF SALES | 657,741 | 618,343 | 581,307
Finance, insurance and other, net |  |  |
REVENUES | $ 467,453 | $ 429,002 | $ 420,654

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- Definition Interest expense incurred on borrowings under the floorplan line of the credit facility and arrangements with vehicle manufacturer affiliates for the financing of specific new, used and rental vehicle inventory. Interest expense also includes the net impact of interest rate swap settlements during the period, which are designed to hedge exposure to variable interest rates. + References No definition available. + Details
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