XML 15 R4.htm IDEA: XBRL DOCUMENT v3.19.2
Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
REVENUES $ 3,005,689 $ 2,943,462 $ 5,814,065 $ 5,803,488
COST OF SALES 2,551,436 2,505,299 4,928,309 4,945,562
GROSS PROFIT 454,253 438,163 885,756 857,926
Selling, general and administrative expenses 338,715 308,092 666,423 632,439
Depreciation and amortization expense 17,864 16,638 34,861 32,980
Asset impairments 537 4,268 537 4,268
INCOME (LOSS) FROM OPERATIONS 97,137 109,165 183,935 188,239
OTHER INCOME (EXPENSE)        
Floorplan interest expense (15,943) (14,563) (31,646) (28,650)
Other interest expense, net (17,961) (19,414) (36,880) (38,234)
INCOME (LOSS) BEFORE INCOME TAXES 63,233 75,188 115,409 121,355
Benefit (provision) for income taxes (14,008) (18,725) (27,536) (29,078)
NET INCOME (LOSS) $ 49,225 $ 56,463 $ 87,873 $ 92,277
BASIC EARNINGS (LOSS) PER SHARE $ 2.65 $ 2.72 $ 4.74 $ 4.42
Weighted average common shares outstanding (in shares) 17,908 20,036 17,853 20,167
DILUTED EARNINGS (LOSS) PER SHARE $ 2.64 $ 2.72 $ 4.73 $ 4.42
Weighted average common shares outstanding (in shares) 17,930 20,046 17,878 20,176
New vehicle retail sales        
REVENUES $ 1,565,375 $ 1,555,570 $ 2,979,860 $ 3,069,160
COST OF SALES 1,495,671 1,478,988 2,838,765 2,917,151
Used vehicle retail sales        
REVENUES 838,896 821,853 1,658,099 1,602,423
COST OF SALES 785,604 770,639 1,556,998 1,507,714
Used vehicle wholesale sales        
REVENUES 95,996 92,854 188,134 196,883
COST OF SALES 96,089 92,613 187,776 194,987
Parts and service sales        
REVENUES 378,167 358,129 747,341 707,644
COST OF SALES 174,072 163,059 344,770 325,710
Finance, insurance and other, net        
REVENUES $ 127,255 $ 115,056 $ 240,631 $ 227,378