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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
REVENUE:        
New vehicle $ 964.0 $ 821.3 $ 2,720.7 $ 2,378.8
Used vehicle 493.0 457.0 1,474.0 1,319.2
Parts and service 190.6 168.3 555.5 495.9
Finance and insurance, net 68.8 59.0 197.6 170.8
TOTAL REVENUE 1,716.4 1,505.6 4,947.8 4,364.7
COST OF SALES:        
New vehicle 911.7 772.1 2,568.2 2,232.4
Used vehicle 459.6 425.8 1,371.6 1,220.6
Parts and service 72.4 63.1 207.6 189.1
TOTAL COST OF SALES 1,443.7 1,261.0 4,147.4 3,642.1
GROSS PROFIT 272.7 244.6 800.4 722.6
OPERATING EXPENSES:        
Selling, general and administrative 188.8 171.5 546.4 500.5
Depreciation and amortization 7.5 6.7 22.0 19.4
Other operating (income) expense, net (0.2) 0.3 0.1 0.2
INCOME FROM OPERATIONS 76.6 66.1 231.9 202.5
OTHER (INCOME) EXPENSES:        
Floor plan interest expense 4.1 3.0 12.0 9.3
Other interest expense, net 10.7 9.6 31.5 28.2
Swap interest expense 1.0 0.5 2.0 1.5
Gain on divestitures (21.4) 0.0 (21.4) 0.0
Total other (income) expenses, net (5.6) 13.1 24.1 39.0
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 82.2 53.0 207.8 163.5
Income tax expense 31.0 20.6 79.6 63.4
INCOME FROM CONTINUING OPERATIONS 51.2 32.4 128.2 100.1
Discontinued operations, net of tax (0.1) 0.1 (0.1) (0.3)
NET INCOME $ 51.1 $ 32.5 $ 128.1 $ 99.8
Basic—        
Continuing operations (in dollars per share) $ 1.98 $ 1.09 $ 4.80 $ 3.31
Discontinued operations (in dollars per share) (0.01) 0.00 0.00 (0.01)
Net income (in dollars per share) 1.97 1.09 4.80 3.30
Diluted—        
Continuing operations (in dollars per share) 1.96 1.08 4.77 3.29
Discontinued operations (in dollars per share) 0.00 0.00 (0.01) (0.01)
Net income (in dollars per share) $ 1.96 $ 1.08 $ 4.76 $ 3.28
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:        
Basic (in shares) 25.9 29.8 26.7 30.2
Restricted stock (in shares) 0.1 0.1 0.1 0.1
Performance share units (in shares) 0.1 0.1 0.1 0.1
Diluted (in shares) 26.1 30.0 26.9 30.4