XML 18 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
REVENUES:        
New vehicle retail sales $ 1,376,219 $ 1,080,710 $ 2,486,454 $ 1,993,305
Used vehicle retail sales 534,804 456,234 1,006,203 871,208
Used vehicle wholesale sales 83,316 73,134 157,867 139,991
Parts and service sales 260,950 220,313 498,460 433,414
Finance, insurance and other, net 79,821 65,435 149,958 122,653
Total revenues 2,335,110 1,895,826 4,298,942 3,560,571
COST OF SALES:        
New vehicle retail sales 1,295,854 1,016,868 2,343,453 1,876,643
Used vehicle retail sales 491,299 417,388 922,422 795,965
Used vehicle wholesale sales 82,804 72,811 154,933 136,964
Parts and service sales 123,879 103,415 236,371 205,231
Total cost of sales 1,993,836 1,610,482 3,657,179 3,014,803
GROSS PROFIT 341,274 285,344 641,763 545,768
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES (251,159) (214,327) (484,592) (413,439)
DEPRECIATION AND AMORTIZATION EXPENSE (8,884) (7,742) (17,297) (14,978)
ASSET IMPAIRMENTS (609) (187) (609) (288)
INCOME FROM OPERATIONS 80,622 63,088 139,265 117,063
OTHER EXPENSE:        
Floorplan interest expense (10,873) (7,863) (20,237) (15,482)
Other interest expense, net (9,570) (9,190) (18,812) (18,230)
Other expense, net 0 0 (789) 0
INCOME BEFORE INCOME TAXES 60,179 46,035 99,427 83,351
PROVISION FOR INCOME TAXES (22,791) (17,410) (39,921) (31,609)
NET INCOME $ 37,388 $ 28,625 $ 59,506 $ 51,742
BASIC EARNINGS PER SHARE $ 1.53 $ 1.25 $ 2.49 $ 2.26
Weighted average common shares outstanding 23,315 21,650 22,796 21,640
DILUTED EARNINGS PER SHARE $ 1.43 $ 1.20 $ 2.32 $ 2.18
Weighted average common shares outstanding 24,980 22,513 24,544 22,522
CASH DIVIDENDS PER COMMON SHARE $ 0.16 $ 0.15 $ 0.31 $ 0.29