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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
REVENUES:        
New vehicle retail sales $ 1,448,768 $ 1,540,759 $ 2,785,981 $ 2,950,609
Used vehicle retail sales 685,949 715,778 1,346,876 1,403,949
Used vehicle wholesale sales 99,377 96,279 203,534 197,871
Parts and service sales 331,631 322,073 651,329 630,665
Finance, insurance and other, net 106,470 107,560 203,304 207,710
Total revenues 2,672,195 2,782,449 5,191,024 5,390,804
COST OF SALES:        
New vehicle retail sales 1,373,857 1,459,611 2,641,843 2,797,734
Used vehicle retail sales 641,036 667,513 1,256,958 1,306,484
Used vehicle wholesale sales 99,644 96,331 203,701 196,474
Parts and service sales 152,766 148,875 300,108 290,891
Total cost of sales 2,267,303 2,372,330 4,402,610 4,591,583
GROSS PROFIT 404,892 410,119 788,414 799,221
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES 298,568 299,022 588,347 592,687
DEPRECIATION AND AMORTIZATION EXPENSE 14,093 12,713 27,699 25,177
ASSET IMPAIRMENTS 0 1,024 0 1,956
INCOME FROM OPERATIONS 92,231 97,360 172,368 179,401
OTHER EXPENSE:        
Floorplan interest expense (13,226) (11,593) (25,168) (22,603)
Other interest expense, net (17,315) (16,705) (34,314) (33,634)
INCOME BEFORE INCOME TAXES 61,690 69,062 112,886 123,164
PROVISION FOR INCOME TAXES (22,557) (22,482) (39,814) 42,293
NET INCOME $ 39,133 $ 46,580 $ 73,072 $ 80,871
BASIC EARNINGS PER SHARE $ 1.84 $ 2.12 $ 3.42 $ 3.57
Weighted average common shares outstanding 20,516 21,057 20,604 21,753
DILUTED EARNINGS PER SHARE $ 1.84 $ 2.12 $ 3.42 $ 3.57
Weighted average common shares outstanding 20,522 21,070 20,609 21,762
CASH DIVIDENDS PER COMMON SHARE $ 0.24 $ 0.23 $ 0.48 $ 0.45