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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
REVENUE:        
TOTAL REVENUE $ 4,246.2 $ 3,742.5 $ 8,447.4 $ 7,324.8
COST OF SALES:        
TOTAL COST OF SALES 3,515.5 3,029.4 6,966.7 5,915.5
GROSS PROFIT 730.7 713.1 1,480.7 1,409.3
OPERATING EXPENSES:        
Selling, general, and administrative 476.5 408.6 945.1 811.6
Depreciation and amortization 18.2 16.8 36.9 33.5
Asset impairments 135.4 0.0 135.4 0.0
INCOME FROM OPERATIONS 100.5 287.7 363.3 564.2
OTHER EXPENSES (INCOME):        
Floor plan interest expense 21.0 0.8 43.8 1.5
Other interest expense, net 45.1 39.3 89.2 76.6
Gain on dealership divestitures (3.6) (13.5) (3.6) (13.5)
Total other expenses, net 62.5 26.6 129.4 64.6
INCOME BEFORE INCOME TAXES 38.0 261.1 233.9 499.6
Income tax expense 9.9 64.8 58.7 121.9
NET INCOME $ 28.1 $ 196.4 $ 175.2 $ 377.7
Basic—        
Net income (in dollars per share) $ 1.40 $ 9.37 $ 8.66 $ 17.78
Diluted—        
Net income (in dollars per share) $ 1.39 $ 9.34 $ 8.64 $ 17.70
WEIGHTED AVERAGE SHARES OUTSTANDING:        
Basic (in shares) 20.1 20.9 20.2 21.2
Diluted (in shares) 20.2 21.0 20.3 21.3
New vehicle        
REVENUE:        
TOTAL REVENUE $ 2,164.9 $ 1,942.7 $ 4,229.1 $ 3,710.4
COST OF SALES:        
TOTAL COST OF SALES 2,009.8 1,757.7 3,911.2 3,346.5
Used vehicle        
REVENUE:        
TOTAL REVENUE 1,308.0 1,107.3 2,664.9 2,233.9
COST OF SALES:        
TOTAL COST OF SALES 1,247.0 1,036.4 2,532.0 2,086.0
Parts and service        
REVENUE:        
TOTAL REVENUE 580.9 526.1 1,171.2 1,041.7
COST OF SALES:        
TOTAL COST OF SALES 241.0 234.1 497.2 467.6
Finance and insurance, net        
REVENUE:        
TOTAL REVENUE 192.4 166.3 382.1 338.9
COST OF SALES:        
TOTAL COST OF SALES $ 17.7 $ 1.2 $ 26.3 $ 15.5
Restricted stock        
WEIGHTED AVERAGE SHARES OUTSTANDING:        
Incremental common shares (in shares) 0.1 0.0 0.0 0.0
Performance share units        
WEIGHTED AVERAGE SHARES OUTSTANDING:        
Incremental common shares (in shares) 0.0 0.1 0.1 0.1