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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
REVENUE:        
TOTAL REVENUE $ 4,236.7 $ 3,666.2 $ 12,684.1 $ 10,991.0
COST OF SALES:        
TOTAL COST OF SALES 3,518.6 2,992.7 10,485.3 8,908.2
GROSS PROFIT 718.0 673.5 2,198.8 2,082.8
OPERATING EXPENSES:        
Selling, general, and administrative 466.5 391.7 1,411.6 1,203.3
Depreciation and amortization 18.9 17.0 55.8 50.5
Asset impairments 0.0 0.0 135.4 0.0
INCOME FROM OPERATIONS 232.7 264.7 596.0 829.0
OTHER EXPENSES (INCOME):        
Floor plan interest expense 22.3 0.0 66.1 1.5
Other interest expense, net 45.7 38.7 134.9 115.3
Gain on dealership divestitures (5.0) 0.0 (8.6) (13.5)
Total other expenses, net 63.0 38.7 192.4 103.3
INCOME BEFORE INCOME TAXES 169.7 226.0 403.6 725.7
Income tax expense 43.4 56.8 102.1 178.7
NET INCOME $ 126.3 $ 169.2 $ 301.5 $ 547.0
Basic—        
Net income (in dollars per share) $ 6.40 $ 8.22 $ 15.03 $ 26.02
Diluted—        
Net income (in dollars per share) $ 6.37 $ 8.19 $ 14.99 $ 25.91
WEIGHTED AVERAGE SHARES OUTSTANDING:        
Basic (in shares) 19.7 20.6 20.1 21.0
Diluted (in shares) 19.8 20.7 20.1 21.1
New vehicle        
REVENUE:        
TOTAL REVENUE $ 2,163.5 $ 1,861.9 $ 6,392.6 $ 5,572.2
COST OF SALES:        
TOTAL COST OF SALES 2,013.1 1,693.6 5,924.4 5,040.1
Used vehicle        
REVENUE:        
TOTAL REVENUE 1,294.7 1,111.7 3,959.6 3,345.6
COST OF SALES:        
TOTAL COST OF SALES 1,235.3 1,049.6 3,767.3 3,135.6
Parts and service        
REVENUE:        
TOTAL REVENUE 593.1 526.5 1,764.3 1,568.2
COST OF SALES:        
TOTAL COST OF SALES 256.0 235.3 753.2 702.9
Finance and insurance, net        
REVENUE:        
TOTAL REVENUE 185.4 166.1 567.5 505.0
COST OF SALES:        
TOTAL COST OF SALES $ 14.2 $ 14.1 $ 40.5 $ 29.6
Restricted stock        
WEIGHTED AVERAGE SHARES OUTSTANDING:        
Incremental common shares (in shares) 0.1 0.1 0.0 0.1
Performance share units        
WEIGHTED AVERAGE SHARES OUTSTANDING:        
Incremental common shares (in shares) 0.0 0.0 0.1 0.0