v3.20.1
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
shares in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Revenues:    
Revenues $ 2,308,056,000 $ 2,389,138,000
Cost of Sales:    
Cost of Sales (1,957,478,000) (2,030,127,000)
Gross profit 350,578,000 359,011,000
Selling, general and administrative expenses (282,156,000) (247,095,000)
Impairment charges (268,000,000) (1,952,000)
Depreciation and amortization (22,297,000) (22,649,000)
Operating income (loss) (221,875,000) 87,315,000
Other income (expense):    
Interest expense, floor plan (10,508,000) (13,226,000)
Interest expense, other, net (10,965,000) (12,853,000)
Other income (expense), net 100,000 100,000
Total other income (expense) (21,373,000) (25,979,000)
Income (loss) from continuing operations before taxes (243,248,000) 61,336,000
Provision for income taxes for continuing operations - benefit (expense) 44,117,000 (18,987,000)
Income (loss) from continuing operations (199,131,000) 42,349,000
Discontinued operations:    
Income (loss) from discontinued operations before taxes (285,000) (180,000)
Provision for income taxes for discontinued operations - benefit (expense) 83,000 52,000
Income (loss) from discontinued operations (202,000) (128,000)
Net income (loss) $ (199,333,000) $ 42,221,000
Basic earnings (loss) per common share:    
Earnings (loss) per share from continuing operations (usd per share) $ (4.67) $ 0.99
Earnings (loss) per share from discontinued operations (usd per share) (0.01) (0.01)
Earnings (loss) per common share (usd per share) $ (4.68) $ 0.98
Weighted average common shares outstanding 42,615 42,838
Diluted earnings (loss) per common share:    
Earnings (loss) per share from continuing operations (usd per share) $ (4.67) $ 0.99
Earnings (loss) per share from discontinued operations (usd per share) (0.01) (0.01)
Earnings (loss) per common share (usd per share) $ (4.68) $ 0.98
Weighted average common shares outstanding 42,615 42,888
Total vehicles    
Revenues:    
Revenues $ 1,858,084,000 $ 1,941,470,000
Cost of Sales:    
Cost of Sales (1,780,696,000) (1,851,933,000)
New vehicles    
Revenues:    
Revenues 959,489,000 1,066,334,000
Cost of Sales:    
Cost of Sales (914,074,000) (1,012,538,000)
Used vehicles    
Revenues:    
Revenues 850,052,000 820,366,000
Cost of Sales:    
Cost of Sales (817,922,000) (783,358,000)
Wholesale vehicles    
Revenues:    
Revenues 48,543,000 54,770,000
Cost of Sales:    
Cost of Sales (48,700,000) (56,037,000)
Parts, service and collision repair    
Revenues:    
Revenues 334,680,000 341,430,000
Cost of Sales:    
Cost of Sales (176,782,000) (178,194,000)
Finance, insurance and other, net    
Revenues:    
Revenues $ 115,292,000 $ 106,238,000

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