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Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
REVENUES:        
New vehicle retail sales $ 1,521,246 $ 1,386,667 $ 4,256,146 $ 3,873,121
Used vehicle retail sales 615,924 529,828 1,743,071 1,536,031
Used vehicle wholesale sales 100,347 85,800 284,491 243,667
Parts and service sales 291,816 255,316 844,340 753,776
Finance, insurance and other, net 97,115 82,536 270,901 232,494
Total revenues 2,626,448 2,340,147 7,398,949 6,639,089
COST OF SALES:        
New vehicle retail sales 1,441,016 1,313,372 4,028,164 3,656,825
Used vehicle retail sales 571,613 488,346 1,610,293 1,410,768
Used vehicle wholesale sales 101,643 87,334 281,434 242,267
Parts and service sales 137,467 121,633 397,079 358,004
Total cost of sales 2,251,739 2,010,685 6,316,970 5,667,864
GROSS PROFIT 374,709 329,462 1,081,979 971,225
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES (264,233) (246,863) (793,761) (731,455)
DEPRECIATION AND AMORTIZATION EXPENSE (10,746) (9,093) (31,424) (26,390)
Asset Impairment Charges 9,373 565 11,094 1,174
INCOME FROM OPERATIONS 90,357 72,941 245,700 212,206
OTHER EXPENSE:        
Floorplan interest expense (10,452) (10,690) (31,695) (30,927)
Other interest expense, net (13,246) (9,971) (36,326) (28,783)
Other expense, net 0 0 0 (789)
Gains (Losses) on Extinguishment of Debt (22,790) 0 (46,403) 0
INCOME BEFORE INCOME TAXES 43,869 52,280 131,276 151,707
PROVISION FOR INCOME TAXES (17,707) (19,515) (56,949) (59,436)
NET INCOME $ 26,162 $ 32,765 $ 74,327 $ 92,271
BASIC EARNINGS PER SHARE $ 1.07 $ 1.34 $ 3.06 $ 3.83
Weighted average common shares outstanding 23,424 23,373 23,354 22,994
DILUTED EARNINGS PER SHARE $ 1.03 $ 1.19 $ 2.82 $ 3.52
Weighted average common shares outstanding 24,432 26,342 25,363 25,153
CASH DIVIDENDS PER COMMON SHARE $ 0.17 $ 0.17 $ 0.51 $ 0.48