XML 18 R4.htm IDEA: XBRL DOCUMENT v3.23.2
Unaudited Condensed Consolidated Statements Of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
TOTAL REVENUE $ 6,890.1 $ 6,869.2 $ 13,288.8 $ 13,622.0
TOTAL COST OF SALES 5,554.8 5,507.5 10,667.1 10,951.4
TOTAL GROSS PROFIT 1,335.3 1,361.7 2,621.7 2,670.6
Selling, general, and administrative expenses 842.9 754.8 1,625.6 1,496.2
Depreciation and amortization 54.6 48.8 107.4 98.8
Other (income) expense, net (1.4) 0.0 6.2 (1.5)
OPERATING INCOME 439.2 558.1 882.5 1,077.1
Non-operating income (expense) items:        
Floorplan interest expense (32.8) (5.8) (59.9) (11.0)
Other interest expense (46.0) (34.1) (87.1) (63.7)
Other income (loss), net 4.4 (13.7) 9.6 (20.1)
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 364.8 504.5 745.1 982.3
Income tax provision 92.3 128.0 184.8 243.7
NET INCOME FROM CONTINUING OPERATIONS 272.5 376.5 560.3 738.6
Income (loss) from discontinued operations, net of income taxes 0.0 (0.2) 0.9 (0.2)
NET INCOME $ 272.5 $ 376.3 $ 561.2 $ 738.4
BASIC EARNINGS (LOSS) PER SHARE:        
Continuing operations (in dollars per share) [1] $ 6.06 $ 6.51 $ 12.15 $ 12.33
Discontinued operations (in dollars per share) [1] 0 0 0.02 0
Net income (in dollars per share) [1] $ 6.06 $ 6.51 $ 12.17 $ 12.33
Weighted average common shares outstanding (in shares) 45.0 57.8 46.1 59.9
DILUTED EARNINGS (LOSS) PER SHARE:        
Continuing operations (in dollars per share) [1] $ 6.02 $ 6.48 $ 12.08 $ 12.25
Discontinued operations (in dollars per share) [1] 0 0 0.02 0
Net income (in dollars per share) [1] $ 6.02 $ 6.48 $ 12.09 $ 12.25
Weighted average common shares outstanding (in shares) 45.3 58.1 46.4 60.3
COMMON SHARES OUTSTANDING, net of treasury stock, at period end (in shares) 44.0 56.0 44.0 56.0
New vehicle        
TOTAL REVENUE $ 3,281.0 $ 2,935.8 $ 6,212.9 $ 5,743.0
TOTAL COST OF SALES 2,993.3 2,582.3 5,638.3 5,044.5
TOTAL GROSS PROFIT 287.7 353.5 574.6 698.5
Used vehicle        
TOTAL REVENUE 2,088.0 2,520.4 4,120.6 5,092.8
TOTAL COST OF SALES 1,953.7 2,363.9 3,831.9 4,799.7
TOTAL GROSS PROFIT 134.3 156.5 288.7 293.1
Parts and service        
TOTAL REVENUE 1,145.3 1,036.3 2,235.1 2,040.2
TOTAL COST OF SALES 602.8 554.6 1,181.5 1,097.4
TOTAL GROSS PROFIT 542.5 481.7 1,053.6 942.8
Finance and insurance, net        
TOTAL REVENUE 369.5 367.6 701.9 731.5
TOTAL GROSS PROFIT 369.5 367.6 701.9 731.5
Other        
TOTAL REVENUE 6.3 9.1 18.3 14.5
TOTAL COST OF SALES 5.0 6.7 15.4 9.8
TOTAL GROSS PROFIT $ 1.3 $ 2.4 $ 2.9 $ 4.7
[1] (1) EPS amounts are calculated discretely and, therefore, may not add up to the total due to rounding.