v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
shares in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues:        
Revenues $ 3,072,812,000 $ 2,548,545,000 $ 9,211,856,000 $ 6,968,487,000
Cost of Sales:        
Cost of Sales (2,600,793,000) (2,171,978,000) (7,828,136,000) (5,933,959,000)
Gross profit 472,019,000 376,567,000 1,383,720,000 1,034,528,000
Selling, general and administrative expenses (321,373,000) (257,174,000) (931,349,000) (769,688,000)
Impairment charges 0 (26,000) 0 (268,859,000)
Depreciation and amortization (25,239,000) (22,934,000) (73,687,000) (67,879,000)
Operating income (loss) 125,407,000 96,433,000 378,684,000 (71,898,000)
Other income (expense):        
Interest expense, floor plan (3,340,000) (4,999,000) (12,781,000) (21,821,000)
Interest expense, other, net (9,817,000) (10,762,000) (30,180,000) (31,523,000)
Other income (expense), net 0 1,000 100,000 100,000
Total other income (expense) (13,157,000) (15,760,000) (42,861,000) (53,244,000)
Income (loss) from continuing operations before taxes 112,250,000 80,673,000 335,823,000 (125,142,000)
Provision for income taxes for continuing operations - benefit (expense) (27,559,000) (20,685,000) (83,452,000) 16,995,000
Income (loss) from continuing operations 84,691,000 59,988,000 252,371,000 (108,147,000)
Discontinued operations:        
Income (loss) from discontinued operations before taxes (275,000) (234,000) 241,000 (808,000)
Provision for income taxes for discontinued operations - benefit (expense) 69,000 64,000 (60,000) 231,000
Income (loss) from discontinued operations (206,000) (170,000) 181,000 (577,000)
Net income (loss) $ 84,485,000 $ 59,818,000 $ 252,552,000 $ (108,724,000)
Basic earnings (loss) per common share:        
Earnings (loss) per share from continuing operations (usd per share) $ 2.04 $ 1.41 $ 6.07 $ (2.53)
Earnings (loss) per share from discontinued operations (usd per share) (0.01) 0 0.01 (0.02)
Earnings (loss) per common share (usd per share) $ 2.03 $ 1.41 $ 6.08 $ (2.55)
Weighted average common shares outstanding 41,561 42,510 41,561 42,687
Diluted earnings (loss) per common share:        
Earnings (loss) per share from continuing operations (usd per share) $ 1.96 $ 1.35 $ 5.81 $ (2.53)
Earnings (loss) per share from discontinued operations (usd per share) (0.01) (0.01) 0.01 (0.02)
Earnings (loss) per common share (usd per share) $ 1.95 $ 1.34 $ 5.82 $ (2.55)
Weighted average common shares outstanding 43,285 44,577 43,416 42,687
Total vehicles        
Revenues:        
Revenues $ 2,553,501,000 $ 2,100,832,000 $ 7,689,120,000 $ 5,700,972,000
Cost of Sales:        
Cost of Sales (2,417,080,000) (2,007,575,000) (7,293,811,000) (5,457,995,000)
New vehicles        
Revenues:        
Revenues 1,146,922,000 1,098,302,000 3,766,133,000 2,957,794,000
Cost of Sales:        
Cost of Sales (1,031,476,000) (1,035,624,000) (3,462,795,000) (2,804,314,000)
Used vehicles        
Revenues:        
Revenues 1,309,492,000 946,028,000 3,666,286,000 2,604,957,000
Cost of Sales:        
Cost of Sales (1,289,772,000) (917,993,000) (3,580,944,000) (2,517,421,000)
Wholesale vehicles        
Revenues:        
Revenues 97,087,000 56,502,000 256,701,000 138,221,000
Cost of Sales:        
Cost of Sales (95,832,000) (53,958,000) (250,072,000) (136,260,000)
Parts, service and collision repair        
Revenues:        
Revenues 355,227,000 320,929,000 1,036,736,000 914,667,000
Cost of Sales:        
Cost of Sales (183,713,000) (164,403,000) (534,325,000) (475,964,000)
Finance, insurance and other, net        
Revenues:        
Revenues $ 164,084,000 $ 126,784,000 $ 486,000,000 $ 352,848,000

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