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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
REVENUES:        
New vehicle retail sales $ 1,540,759 $ 1,534,262 $ 2,950,609 $ 2,866,986
Used vehicle retail sales 715,778 682,294 1,403,949 1,305,487
Used vehicle wholesale sales 96,279 101,512 197,871 201,704
Parts and service sales 322,073 303,193 630,665 585,382
Finance, insurance and other, net 107,560 105,219 207,710 199,775
Total revenues 2,782,449 2,726,480 5,390,804 5,159,334
COST OF SALES:        
New vehicle retail sales 1,459,611 1,458,132 2,797,734 2,721,125
Used vehicle retail sales 667,513 636,235 1,306,484 1,213,307
Used vehicle wholesale sales 96,331 102,445 196,474 199,958
Parts and service sales 148,875 138,095 290,891 269,487
Total cost of sales 2,372,330 2,334,907 4,591,583 4,403,877
GROSS PROFIT 410,119 391,573 799,221 755,457
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES 299,022 280,568 592,687 552,037
DEPRECIATION AND AMORTIZATION EXPENSE 12,713 11,946 25,177 23,630
ASSET IMPAIRMENTS 1,024 1,039 1,956 1,039
INCOME FROM OPERATIONS 97,360 98,020 179,401 178,751
OTHER EXPENSE:        
Floorplan interest expense (11,593) (10,015) (22,603) (19,362)
Other interest expense, net (16,705) (14,228) (33,634) (28,139)
INCOME BEFORE INCOME TAXES 69,062 73,777 123,164 131,250
PROVISION FOR INCOME TAXES (22,482) (27,467) (42,293) (49,126)
NET INCOME $ 46,580 $ 46,310 $ 80,871 $ 82,124
BASIC EARNINGS PER SHARE $ 2.12 $ 1.91 $ 3.57 $ 3.38
Weighted average common shares outstanding 21,057 23,312 21,753 23,377
DILUTED EARNINGS PER SHARE $ 2.12 $ 1.91 $ 3.57 $ 3.38
Weighted average common shares outstanding 21,070 23,315 21,762 23,380
CASH DIVIDENDS PER COMMON SHARE $ 0.23 $ 0.20 $ 0.45 $ 0.40