XML 15 R4.htm IDEA: XBRL DOCUMENT v3.21.1
CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
REVENUE:    
New vehicle $ 1,151,700,000 $ 822,100,000
Used vehicle 690,900,000 493,200,000
Parts and service 262,000,000.0 221,600,000
Finance and insurance, net 88,300,000 70,400,000
TOTAL REVENUE 2,192,900,000 1,607,300,000
COST OF SALES:    
New vehicle 1,076,200,000 785,700,000
Used vehicle 635,100,000 462,500,000
Parts and service 98,900,000 86,700,000
TOTAL COST OF SALES 1,810,200,000 1,334,900,000
GROSS PROFIT 382,700,000 272,400,000
OPERATING EXPENSES:    
Selling, general, and administrative 239,800,000 194,700,000
Depreciation and amortization 9,800,000 9,500,000
Franchise rights impairment 0 23,000,000.0
Other operating (income) expense, net (3,200,000) 10,200,000
INCOME FROM OPERATIONS 136,300,000 35,000,000.0
OTHER EXPENSES (INCOME):    
Floor plan interest expense 2,900,000 7,000,000.0
Other interest expense, net 14,000,000.0 17,000,000.0
Loss on extinguishment of long-term debt, net 0 20,600,000
Gain on dealership divestitures, net 0 (33,700,000)
Total other expense, net 16,900,000 10,900,000
INCOME BEFORE INCOME TAXES 119,400,000 24,100,000
Income tax expense 26,600,000 4,600,000
NET INCOME $ 92,800,000 $ 19,500,000
Basic—    
Net income (in dollars per share) $ 4.81 $ 1.02
Diluted—    
Net income (in dollars per share) $ 4.78 $ 1.01
WEIGHTED AVERAGE SHARES OUTSTANDING:    
Basic (in shares) 19.3 19.1
Restricted stock (in shares) 0.1 0.1
Performance share units (in shares) 0.0 0.1
Diluted (in shares) 19.4 19.3