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Unaudited Condensed Consolidated Income Statements (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
TOTAL REVENUE $ 3,933.8 $ 3,506.5 $ 11,495.3 $ 10,153.9
TOTAL COST OF SALES 3,311.2 2,931.3 9,641.7 8,429.1
TOTAL GROSS PROFIT 622.6 575.2 1,853.6 1,724.8
Selling, general, and administrative expenses 435.8 411.4 1,307.3 1,236.7
Depreciation and Amortization 22.9 20.9 64.9 62.7
Franchise rights impairment 0 0 4.2 0
Other expenses (income), net 0.2 (1.2) 0.6 (3.1)
OPERATING INCOME 163.7 144.1 476.6 428.5
Floorplan interest expense (11.4) (9.7) (32.9) (31.8)
Other interest expense (22.2) (16.4) (65.2) (48.6)
Interest income 0 0 0.2 0.6
Other income (loss), net 2.5 (2.4) 3.1 (0.2)
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 132.6 115.6 381.8 348.5
Income tax provision 50.7 44.9 147.4 134.2
NET INCOME FROM CONTINUING OPERATIONS 81.9 70.7 234.4 214.3
Loss from discontinued operations, net of income taxes (0.3) 0 (1.2) (2.3)
NET INCOME 81.6 70.7 233.2 212.0
BASIC EARNINGS (LOSS) PER SHARE:        
Continuing operations $ 0.68 $ 0.49 $ 1.88 $ 1.46
Discontinued operations $ 0.00 $ 0.00 $ (0.01) $ (0.02)
Net income $ 0.67 $ 0.49 $ 1.87 $ 1.44
Weighted average common shares outstanding 121.2 144.4 124.4 146.9
DILUTED EARNINGS (LOSS) PER SHARE:        
Continuing operations $ 0.66 $ 0.48 $ 1.85 $ 1.43
Discontinued operations $ 0.00 $ 0.00 $ (0.01) $ (0.02)
Net income $ 0.66 $ 0.48 $ 1.84 $ 1.42
Weighted average common shares outstanding 123.4 147.0 126.4 149.5
COMMON SHARES OUTSTANDING, net of treasury stock 121.7 141.4 121.7 141.4
New Vehicle [Member]
       
TOTAL REVENUE 2,240.5 1,881.6 6,430.9 5,413.3
TOTAL COST OF SALES 2,095.8 1,743.4 6,006.7 5,013.1
TOTAL GROSS PROFIT 144.7 138.2 424.2 400.2
Used Vehicle [Member]
       
TOTAL REVENUE 936.4 911.9 2,802.6 2,630.6
TOTAL COST OF SALES 863.7 845.4 2,571.7 2,407.4
TOTAL GROSS PROFIT 72.7 66.5 230.9 223.2
Parts and Service [Member]
       
TOTAL REVENUE 596.8 578.0 1,799.2 1,720.0
TOTAL COST OF SALES 345.0 336.1 1,043.8 988.4
TOTAL GROSS PROFIT 251.8 241.9 755.4 731.6
Finance and Insurance, Net [Member]
       
TOTAL REVENUE 147.0 121.9 422.3 349.6
TOTAL GROSS PROFIT 147.0 121.9 422.3 349.6
Other Goods and Services [Member]
       
TOTAL REVENUE 13.1 13.1 40.3 40.4
TOTAL COST OF SALES 6.7 6.4 19.5 20.2
TOTAL GROSS PROFIT $ 6.4 $ 6.7 $ 20.8 $ 20.2