XML 15 R3.htm IDEA: XBRL DOCUMENT v3.21.1
Unaudited Condensed Consolidated Income Statements - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
TOTAL REVENUE $ 5,903.8 $ 4,667.0
TOTAL COST OF SALES (excluding depreciation shown below) 4,871.0 3,853.8
TOTAL GROSS PROFIT 1,032.8 813.2
Selling, general, and administrative expenses 647.9 600.7
Depreciation and amortization 47.9 48.1
Goodwill impairment 0.0 318.3
Franchise rights impairment 0.0 57.5
Other expense, net 0.1 7.9
OPERATING INCOME (LOSS) 336.9 (219.3)
Non-operating income (expense) items:    
Floorplan interest expense (9.4) (25.5)
Other interest expense (21.2) (23.5)
Other income (loss), net 11.0 (2.9)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 317.3 (271.2)
Income tax provision (benefit) 77.8 (39.0)
NET INCOME (LOSS) FROM CONTINUING OPERATIONS 239.5 (232.2)
Loss from discontinued operations, net of income taxes (0.1) (0.1)
NET INCOME (LOSS) $ 239.4 $ (232.3)
BASIC EARNINGS (LOSS) PER SHARE:    
Continuing operations (in dollars per share) $ 2.88 $ (2.58)
Discontinued operations (in dollars per share) 0 0
Net income (loss) (in dollars per share) $ 2.88 $ (2.58)
Weighted average common shares outstanding (in shares) 83.1 90.0
DILUTED EARNINGS (LOSS) PER SHARE:    
Continuing operations (in dollars per share) $ 2.85 $ (2.58)
Discontinued operations (in dollars per share) 0 0
Net income (loss) (in dollars per share) $ 2.85 $ (2.58)
Weighted average common shares outstanding (in shares) 83.9 90.0
COMMON SHARES OUTSTANDING, net of treasury stock, at period end (in shares) 80.5 87.2
New Vehicle [Member]    
TOTAL REVENUE $ 2,982.3 $ 2,281.9
TOTAL COST OF SALES (excluding depreciation shown below) 2,792.3 2,185.5
TOTAL GROSS PROFIT 190.0 96.4
Used Vehicle [Member]    
TOTAL REVENUE 1,749.1 1,248.7
TOTAL COST OF SALES (excluding depreciation shown below) 1,608.9 1,157.7
TOTAL GROSS PROFIT 140.2 91.0
Parts and Service [Member]    
TOTAL REVENUE 851.0 876.3
TOTAL COST OF SALES (excluding depreciation shown below) 462.0 487.5
TOTAL GROSS PROFIT 389.0 388.8
Finance and Insurance, Net [Member]    
TOTAL REVENUE 313.0 235.8
TOTAL GROSS PROFIT 313.0 235.8
Product and Service, Other [Member]    
TOTAL REVENUE 8.4 24.3
TOTAL COST OF SALES (excluding depreciation shown below) 7.8 23.1
TOTAL GROSS PROFIT $ 0.6 $ 1.2