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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
shares in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues:        
Revenues $ 3,352,246,000 $ 2,111,886,000 $ 6,139,043,000 $ 4,419,942,000
Cost of Sales:        
Cost of Sales (2,841,438,000) (1,804,503,000) (5,227,342,000) (3,761,981,000)
Gross profit 510,808,000 307,383,000 911,701,000 657,961,000
Selling, general and administrative expenses (320,620,000) (230,359,000) (609,976,000) (512,515,000)
Impairment charges 0 (833,000) 0 (268,833,000)
Depreciation and amortization (24,761,000) (22,647,000) (48,448,000) (44,944,000)
Operating income (loss) 165,427,000 53,544,000 253,277,000 (168,331,000)
Other income (expense):        
Interest expense, floor plan (4,329,000) (6,314,000) (9,441,000) (16,822,000)
Interest expense, other, net (10,077,000) (9,797,000) (20,363,000) (20,762,000)
Other income (expense), net 0 0 100,000 100,000
Total other income (expense) (14,406,000) (16,111,000) (29,704,000) (37,484,000)
Income (loss) from continuing operations before taxes 151,021,000 37,433,000 223,573,000 (205,815,000)
Provision for income taxes for continuing operations - benefit (expense) (37,030,000) (6,437,000) (55,893,000) 37,680,000
Income (loss) from continuing operations 113,991,000 30,996,000 167,680,000 (168,135,000)
Discontinued operations:        
Income (loss) from discontinued operations before taxes (204,000) (289,000) 516,000 (573,000)
Provision for income taxes for discontinued operations - benefit (expense) 58,000 84,000 (129,000) 166,000
Income (loss) from discontinued operations (146,000) (205,000) 387,000 (407,000)
Net income (loss) $ 113,845,000 $ 30,791,000 $ 168,067,000 $ (168,542,000)
Basic earnings (loss) per common share:        
Earnings (loss) per share from continuing operations (usd per share) $ 2.74 $ 0.72 $ 4.03 $ (3.93)
Earnings (loss) per share from discontinued operations (usd per share) 0 0 0.01 (0.01)
Earnings (loss) per common share (usd per share) $ 2.74 $ 0.72 $ 4.04 $ (3.94)
Weighted average common shares outstanding 41,581 42,940 41,561 42,779
Diluted earnings (loss) per common share:        
Earnings (loss) per share from continuing operations (usd per share) $ 2.63 $ 0.71 $ 3.86 $ (3.93)
Earnings (loss) per share from discontinued operations (usd per share) 0 0 0.01 (0.01)
Earnings (loss) per common share (usd per share) $ 2.63 $ 0.71 $ 3.87 $ (3.94)
Weighted average common shares outstanding 43,424 43,575 43,483 42,779
Total vehicles        
Revenues:        
Revenues $ 2,814,396,000 $ 1,742,055,000 $ 5,135,618,000 $ 3,600,140,000
Cost of Sales:        
Cost of Sales (2,656,690,000) (1,669,724,000) (4,876,730,000) (3,450,421,000)
New vehicles        
Revenues:        
Revenues 1,462,893,000 900,003,000 2,619,210,000 1,859,492,000
Cost of Sales:        
Cost of Sales (1,344,467,000) (854,617,000) (2,431,319,000) (1,768,690,000)
Used vehicles        
Revenues:        
Revenues 1,266,696,000 808,877,000 2,356,794,000 1,658,930,000
Cost of Sales:        
Cost of Sales (1,231,943,000) (781,506,000) (2,291,171,000) (1,599,428,000)
Wholesale vehicles        
Revenues:        
Revenues 84,807,000 33,175,000 159,614,000 81,718,000
Cost of Sales:        
Cost of Sales (80,280,000) (33,601,000) (154,240,000) (82,303,000)
Parts, service and collision repair        
Revenues:        
Revenues 360,596,000 259,058,000 681,509,000 593,738,000
Cost of Sales:        
Cost of Sales (184,748,000) (134,779,000) (350,612,000) (311,560,000)
Finance, insurance and other, net        
Revenues:        
Revenues $ 177,254,000 $ 110,773,000 $ 321,916,000 $ 226,064,000