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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
REVENUES:        
New vehicle retail sales $ 1,601,213 $ 1,521,246 $ 4,468,200 $ 4,256,146
Used vehicle retail sales 687,637 615,924 1,993,124 1,743,071
Used vehicle wholesale sales 100,483 100,347 302,186 284,491
Parts and service sales 303,557 291,816 888,939 844,340
Finance, insurance and other, net 107,679 97,115 307,454 270,901
Total revenues 2,800,569 2,626,448 7,959,903 7,398,949
COST OF SALES:        
New vehicle retail sales 1,521,721 1,441,016 4,242,847 4,028,164
Used vehicle retail sales 641,055 571,613 1,854,361 1,610,293
Used vehicle wholesale sales 102,318 101,643 302,276 281,434
Parts and service sales 137,093 137,467 406,580 397,079
Total cost of sales 2,402,187 2,251,739 6,806,064 6,316,970
GROSS PROFIT 398,382 374,709 1,153,839 1,081,979
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES 289,012 264,233 841,050 793,761
DEPRECIATION AND AMORTIZATION EXPENSE 11,811 10,746 35,441 31,424
ASSET IMPAIRMENTS 916 9,373 1,955 11,094
INCOME FROM OPERATIONS 96,643 90,357 275,393 245,700
OTHER EXPENSE:        
Floorplan interest expense (9,685) (10,452) (29,046) (31,695)
Other interest expense, net (13,922) (13,246) (42,061) (36,326)
Loss on extinguishment of long-term debt 0 (22,790) 0 (46,403)
INCOME BEFORE INCOME TAXES 73,036 43,869 204,286 131,276
PROVISION FOR INCOME TAXES (27,775) (17,707) (76,901) (56,949)
NET INCOME $ 45,261 $ 26,162 $ 127,385 $ 74,327
BASIC EARNINGS PER SHARE $ 1.88 $ 1.07 $ 5.26 $ 3.06
Weighted average common shares outstanding 23,132 23,424 23,294 23,354
DILUTED EARNINGS PER SHARE $ 1.88 $ 1.03 $ 5.26 $ 2.82
Weighted average common shares outstanding 23,137 24,432 23,298 25,363
CASH DIVIDENDS PER COMMON SHARE $ 0.21 $ 0.17 $ 0.61 $ 0.51