v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
shares in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues:        
Revenues $ 2,548,545,000 $ 2,702,720,000 $ 6,968,487,000 $ 7,705,939,000
Cost of Sales:        
Cost of Sales (2,171,978,000) (2,315,909,000) (5,933,959,000) (6,578,806,000)
Gross profit 376,567,000 386,811,000 1,034,528,000 1,127,133,000
Selling, general and administrative expenses (257,174,000) (296,826,000) (769,688,000) (838,453,000)
Impairment charges (26,000) (1,124,000) (268,859,000) (3,076,000)
Depreciation and amortization (22,934,000) (23,665,000) (67,879,000) (70,120,000)
Operating income (loss) 96,433,000 65,196,000 (71,898,000) 215,484,000
Other income (expense):        
Interest expense, floor plan (4,999,000) (11,638,000) (21,821,000) (37,382,000)
Interest expense, other, net (10,762,000) (13,013,000) (31,523,000) (39,494,000)
Other income (expense), net 1,000 (5,000) 100,000 90,000
Total other income (expense) (15,760,000) (24,656,000) (53,244,000) (76,786,000)
Income (loss) from continuing operations before taxes 80,673,000 40,540,000 (125,142,000) 138,698,000
Provision for income taxes for continuing operations - benefit (expense) (20,685,000) (11,372,000) 16,995,000 (40,430,000)
Income (loss) from continuing operations 59,988,000 29,168,000 (108,147,000) 98,268,000
Discontinued operations:        
Income (loss) from discontinued operations before taxes (234,000) (223,000) (808,000) (616,000)
Provision for income taxes for discontinued operations - benefit (expense) 64,000 65,000 231,000 179,000
Income (loss) from discontinued operations (170,000) (158,000) (577,000) (437,000)
Net income (loss) $ 59,818,000 $ 29,010,000 $ (108,724,000) $ 97,831,000
Basic earnings (loss) per common share:        
Earnings (loss) per share from continuing operations (usd per share) $ 1.41 $ 0.68 $ (2.53) $ 2.28
Earnings (loss) per share from discontinued operations (usd per share) 0 (0.01) (0.02) (0.01)
Earnings (loss) per common share (usd per share) $ 1.41 $ 0.67 $ (2.55) $ 2.27
Weighted average common shares outstanding 42,510 43,078 42,687 42,995
Diluted earnings (loss) per common share:        
Earnings (loss) per share from continuing operations (usd per share) $ 1.35 $ 0.66 $ (2.53) $ 2.26
Earnings (loss) per share from discontinued operations (usd per share) (0.01) 0 (0.02) (0.01)
Earnings (loss) per common share (usd per share) $ 1.34 $ 0.66 $ (2.55) $ 2.25
Weighted average common shares outstanding 44,577 44,203 42,687 43,456
Total vehicles        
Revenues:        
Revenues $ 2,100,832,000 $ 2,223,832,000 $ 5,700,972,000 $ 6,305,721,000
Cost of Sales:        
Cost of Sales (2,007,575,000) (2,132,802,000) (5,457,995,000) (6,032,739,000)
New vehicles        
Revenues:        
Revenues 1,098,302,000 1,258,018,000 2,957,794,000 3,529,106,000
Cost of Sales:        
Cost of Sales (1,035,624,000) (1,202,710,000) (2,804,314,000) (3,363,603,000)
Used vehicles        
Revenues:        
Revenues 946,028,000 914,272,000 2,604,957,000 2,620,264,000
Cost of Sales:        
Cost of Sales (917,993,000) (877,444,000) (2,517,421,000) (2,509,699,000)
Wholesale vehicles        
Revenues:        
Revenues 56,502,000 51,542,000 138,221,000 156,351,000
Cost of Sales:        
Cost of Sales (53,958,000) (52,648,000) (136,260,000) (159,437,000)
Parts, service and collision repair        
Revenues:        
Revenues 320,929,000 352,047,000 914,667,000 1,048,789,000
Cost of Sales:        
Cost of Sales (164,403,000) (183,107,000) (475,964,000) (546,067,000)
Finance, insurance and other, net        
Revenues:        
Revenues $ 126,784,000 $ 126,841,000 $ 352,848,000 $ 351,429,000

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