Q2 2015 EARNINGS REVIEW
July 20, 2015
Exhibit 99.2


2
FORWARD-LOOKING STATEMENTS
This presentation contains “forward-looking statements” within the meaning of the Private Securities
Litigation Reform Act of 1995.  These statements relate to future events, are not historical facts and are
based on our current expectations and assumptions regarding our business, the economy and other future
conditions.  These statements can generally be identified by lead-in words such as “believe”, “expect”,
“anticipate”, “intend”, “plan”, “foresee”, “may” ,”will” and other similar words.  Statements that describe our
Company’s objectives, plans or goals are also forward-looking statements.  Examples of such forward-looking
information we may be discussing in this presentation include, without limitation, anticipated 2015 industry
new vehicle sales volume, the implementation of growth and operating strategies, including acquisitions of
dealerships and properties, the development of open points and stand-alone pre-owned stores, the return of
capital to shareholders , anticipated future success and impacts from the implementation of our strategic
initiatives and earnings per share expectations.
You are cautioned that these forward-looking statements are not guarantees of future performance, involve
risks and uncertainties and actual results may differ materially from those projected in the forward-looking
statements as a result of various factors.  These risks and uncertainties include, among other things, (a)
economic conditions in the markets in which we operate, (b) the success of our operational strategies, (c) our
relationships with the automobile manufacturers, (d) new and pre-owned vehicle sales volume, and (e)
earnings expectations for the year ending December 31, 2015. These risks and uncertainties, as well as
additional factors that could affect our forward-looking statements, are described in our Form 10-K for the
year ended December 31, 2014.
These forward-looking statements, risks, uncertainties and additional factors speak only as of the date of this
presentation.  We undertake no obligation to update any such statements.


CONTENT
STRATEGIC FOCUS
FINANCIAL RESULTS
OPERATIONS REVIEW
SUMMARY AND OUTLOOK
3


4
STRATEGIC FOCUS
1.
Growth
One Sonic-One Experience
EchoPark
®
Acquisitions & Open Points
2.
Own Our Properties
3.
Return Capital to Shareholders


5
STRATEGIC FOCUS
EchoPark
®
Denver Market with three
stores open and two
additional planned
openings in next 12
months
Currently acquiring property
in another market which may
include up to 10 stores


6
STRATEGIC FOCUS
ACQUISITIONS & OPEN POINTS
Open Points
Mercedes Benz in Dallas Market
Operational in 2016
Audi in Pensacola Market
Operational in 2016
Nissan in TN Market
Operational in late 2016 / early 2017
Exploring Acquisition and Open Point
Opportunities in Other Markets


7
STRATEGIC FOCUS
OWN OUR PROPERTIES
2007
2008
2011
2012
2013
2014
Q2
2015
Proj.
2017
0%
12%
18%
23%
31%
36%
37%
49%
-


8
STRATEGIC FOCUS
RETURN CAPITAL TO SHAREHOLDERS
Shares
(in thousands)
Average Price /
Share
$
(in millions)
2015 Activity
599
$ 24.66
$ 14.8
Unused Authorization of Approximately $ 65 million
Quarterly Dividend of $0.025 Per Share


Q2 2015
FINANCIAL REVIEW


Q2 2015 FINANCIAL REVIEW
FRANCHISE DEALERSHIPS


ADJUSTED FRANCHISED OPERATIONS
B/(W)
than Q2 2014
(amounts in millions,
except per share data)
Q2
2015
$
%
Revenue
$
2,403
$
49
2.1%
Gross Profit
$
353
$ 6
1.7%
SG&A as % of Gross
(1)
78.2%
10 bps
Operating Profit
(1)
$ 61
($ 0)
(0.7%)
Interest
& Other
$ 18
$ 1
3.4%
Pretax
(1)
$ 42
$
0
0.5%
Diluted
EPS
(1)
$ 0.51
$ 0
.03
6.3%
11
Note –
Continuing operations includes results of sold stores after March 31, 2014.
(1) –
Amounts are adjusted.  See appendix for reconciliation of adjusted amounts to GAAP amounts


Q2 2015 FINANCIAL REVIEW
ECHOPARK
®


EchoPark
®
Q2 RESULTS
13
B/(W)
than
Q2 2014
(amounts in millions,
except per share data)
Q2
2015
$
Revenue
$ 21.0
$21.0
Gross Profit
$ 2.6
$ 2.6
Operating Profit
($ 3.8)
($ 0.5)
Interest
& Other
($ 0.3)
($ 0.3)
Pre-tax
Profit (Loss)
($ 4.1)
($ 0.9)
Diluted EPS Impact
($.05)
($.01)
Store
Level (retail units)
881
n/a


Q2 2015 FINANCIAL REVIEW
TOTAL ENTERPRISE


15
ADJUSTED Q2 2015 RESULTS
B/(W)
than Q2 2014
(amounts in millions,
except per share data)
Q2
2015
$
%
Revenue
$
2,424
$
70
3.0%
Gross Profit
$
356
$ 9
2.5%
Operating Profit
(1)
$ 57
($ 1)
(1.7%)
Interest
& Other
$ 18
$ 0
1.7%
Continuing Ops:
Profit (after tax)
(1)
$ 23
($
0)
(1.3%)
Diluted EPS
(1)
$ 0.46
$ 0.02
4.5%
SG&A as % of Gross
(1)
79.2%
0 bps
Discontinued Ops
Profit/(Loss)  (after tax)
($ 0.3)
($0.2)
Note –
Continuing operations includes results of sold stores after March 31, 2014.
(1) –
Amounts are adjusted.  See appendix for reconciliation of adjusted amounts to GAAP amounts


16
REVENUE & GROSS PROFIT Q2 2015
B/(W)
than Q2 2014
(amounts in millions,
except per share data)
Q2
2015
$
%
New
Retail Revenue
$
1,286
$
2
0.2%
Used
Retail Revenue
$
659
$ 55
9.1%
Fixed Operations Revenue
$ 346
$ 17
5.2%
F&I Revenue
$ 82
$ 6
7.3%
Total Revenue
$ 2,424
$ 70
3.0%
New Retail Gross
$ 65
($
9)
(12%)
Used
Retail Gross
$ 41
$3
8.6%
Fixed Operations Gross
$ 170
$ 10
6.5%
F&I Gross
$ 82
$ 6
7.3%
Total
Gross
$ 356
$ 9
2.5%


17
ADJUSTED SG&A TO GROSS
Note –
Amounts are adjusted.  See appendix for reconciliation of adjusted amounts to GAAP amounts
79.2%
79.2%
Q2 2015
Q2 2014
4.3%
4.0%
47.2%
47.0%
7.3%
7.7%
20.4%
20.5%
Advertising
Comp
Rent & Related
Other


18
(amounts in millions, except
per share date)
Q2 2015
Q2 2014
Pre-Tax
EPS
Pre-Tax
EPS
Adjusted Franchised
$42.4
$
0.51
$ 42.2
$0.48
Adjusted EchoPark®
($4.1)
($0.05)
($ 3.2)
($ 0.04)
Adjusted Total
$ 38.3
$ 0.46
$39.0
$ 0.44
Adjustments:
Impairment/Disposal
($9.7)
($ 0.12)
$ 7.3
$ 0.08
Physical
Damage
($3.4)
($0.04)
($
1.1)
($0.01)
Other
($0.5)
($ 0.00)
($ 0.3)
($ 0.0)
GAAP EPS
$ 0.30
$ 0.51
ADJUSTED AND GAAP EPS SUMMARY
Continuing Operations


CAPITAL SPEND
(amounts in millions)
YTD
Q2
2015
Estimated
2015
Real Estate
& Facility Related
$ 58.7
$180.1
All Other
Cap Ex
24.2
33.8
Subtotal
$ 82.9
$ 213.9
Less: Mortgage Funding (1)
(46.0)
(110.4)
Total
Cash Used –
Cap Ex
$ 36.9
$ 103.5
Note –
Spending excludes the effect of  franchise acquisitions.
19


LIQUIDITY
(amounts
in millions)
Q2 2015
Q4 2014
Cash
$ 3.6
$
4.2
Revolver Availability
144.2
165.6
Used floor
plan availability
75.0
22.6
Floor plan deposit balance
54.0
57.5
Total
$ 276.8
$
249.9
20


DEBT COVENANTS
Covenant
Actual
Q2
2015
Liquidity Ratio
>= 1.05
1.19
Fixed Charge Coverage Ratio
>=
1.20
1.75
Total Lease Adjusted Leverage
Ratio
<=
5.50
4.24
Compliant with all Covenants
21


OPERATIONS
REVIEW


NEW VEHICLE RETAIL
SAME STORE
Q2
2015
Q2
2014
B/(W)
Volume
34,288
33,567
2.1%
Selling Price
$ 37,127
$
36,861
0.7%
Gross Margin %
5.1%
5.8%
(70 bps)
GPU
$ 1,890
$ 2,127
($ 238)
Gross Profit
$65  million
$ 71 million
(9.3%)
SAAR (includes fleet)
17.1 million
16.5 million
3.6%
23


USED VEHICLE RETAIL
SAME STORE
24
Q2 2015
Q2 2014
B/(W)
Retail Volume
28,973
27,397
5.8%
Used Retail GPU
$ 1,342
$ 1,338
$ 4
Used to New
0.84:1.00
0.82:1.00
0.02
Vehicles
/ store / month (97 stores)
100
94
6
1
st
time
Averaging 100
units per store
per month for
an entire
quarter!


FIXED OPS
SAME STORE
Q2 2015
B/(W)
than Q2 2014
(amounts in millions)
$
%
Revenue
$ 341
$ 22
7.0%
Gross Profit
$ 168
$ 13
8.5%
25
(5.0%)
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
35.0%
Customer Pay
Warranty
Wholesale Parts
Internal & Sublet
2.9%
31.7%
0.2%
6.9%
YOY Gross % Change


FIXED OPS
SAME STORE –
CUSTOMER PAY
26
+ 1
Day
-
1
Day
(5.0%)
(3.0%)
(1.0%)
1.0%
3.0%
5.0%
Jan
Feb
Mar
Q1
Apr
May
Jun
Q2
(2.0%)
(3.7%)
2.0%
(1.2%)
2.1%
(3.7%)
10.5%
2.9%
YOY Gross % Change


OSOE


28
OSOE –
Operational Metrics
New Retail Units
Upward Trend
182
167
182
153
200
257
237
314
273
73
93
108
100
83
121
117
123
117
86
77
114
108
84
111
110
132
93
40
30
34
30
35
53
53
38
36
39
23
39
32
28
35
35
29
35
0
50
100
150
200
250
300
350
Oct-14
Nov-14
Dec-14
Jan-15
Feb-15
Mar-15
Apr-15
May-15
Jun-15
T&C Toyota
T&C Ford
Fort Mill Ford
Infiniti of CHL
Cadillac of CHL


29
OSOE –
Operational Metrics
Pre-Owned Retail Units
Upward Trend
122
108
125
117
122
142
143
160
186
96
86
75
91
90
109
95
120
120
74
61
78
78
78
90
78
107
104
37
26
48
34
36
47
52
53
65
67
60
68
63
57
58
72
66
79
0
20
40
60
80
100
120
140
160
180
200
Oct-14
Nov-14
Dec-14
Jan-15
Feb-15
Mar-15
Apr-15
May-15
Jun-15
T&C Toyota
T&C Ford
Fort Mill Ford
Infiniti of CHL
Cadillac of CHL


30
OSOE –
NEXT STEPS
1.
Continue to focus on inventory management and pricing
2.
OSOE stores continue to improve across all areas  of our business
3.
We continue to learn and have excellent CSI and guest feedback
4.
Begin
rollout
of
technology
CRM,
Desking
tool
and
Appraisal
tool
effective 8/1/15 to give stores access to this incredible technology


EchoPark
®


EchoPark
®
-
Total
32
183
185
292
251
304
326
150
170
190
210
230
250
270
290
310
330
350
Jan
Feb
Mar
Apr
May
June
Retail Unit Sales
Actual
1,039
1,331
1,636
804
1,228
1,877
-
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
Jan
Feb
Mar
Apr
May
June
Gross Per Retail Unit
Actual
829
926
901
924
877
930
800
1,000
Jan
Feb
Mar
Apr
May
June
F&I Per Unit
Actual


Continue to grow sales across all revenue categories
Pre-owned
milestone
achieved
believe
we
can
continue to grow volumes per store
Fixed operations growth showed strength in customer
pay and warranty
OSOE roll out to additional markets will include
portions of the technology components
Growth plans in EchoPark
®
expected to accelerate in
the latter half of the year
SUMMARY
33



Appendix
35


NON-GAAP RECONCILIATIONS
36
Consolidated
Franchised Dealerships
EchoPark®
Three Months Ended
Three Months Ended
Three Months Ended
June 30,
June 30,
June 30,
2015
2014
2015
2014
2015
2014
(In millions)
SG&A Reconciliation:
As Reported . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
284.7
$              
268.9
$              
279.1
$              
265.7
$              
5.6
$                  
3.2
$                 
Pre-tax Adjustments:
Gain on disposal . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . .
1.1
                    
7.3
                   
1.1
                    
7.3
                   
-
                   
-
                  
Storm damage and other . . . . . . . . . . .. . . . . . . . . . . . . . .
(4.3)
                  
(1.4)
                 
(4.3)
                  
(1.4)
                 
-
                   
-
                  
Total pre-tax adjustments . . . . . . .. . . . . . . . . . . . . . .
(3.2)
                  
5.9
                   
(3.2)
                  
5.9
                   
-
                   
-
                  
Adjusted SG&A  . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . .
281.5
$             
274.8
$              
275.9
$              
271.6
$              
5.6
$                  
3.2
$                 
SG&A as % of Gross Reconciliation:
As Reported . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
80.1%
77.5%
79.1%
76.6%
NM
NM
Pre-tax Adjustments:
Gain on disposal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
0.3%
2.1%
0.3%
2.1%
NM
NM
Storm damage and other . . . . . . . . . . . . . . . . . .. . . . . . . .
(1.2%)
(0.4%)
(1.2%)
(0.4%)
NM
NM
Total pre-tax adjustments . . . . . . . . . . . . . .. . . . . . . .
(0.9%)
1.7%
(0.9%)
1.7%
NM
NM
Adjusted SG&A as % of Gross . . . . . . . . . . . . .. . . . . . . . . .
79.2%
79.2%
78.2%
78.3%
NM
NM
NM = Not meaningful
This release contains certain non-GAAP financial measures (the "Adjusted" amounts) as defined under SEC rules, such as, but not limited to, adjusted income from continuing
operations and related earnings per share data.  The Company has reconciled these measures to the most directly comparable GAAP measures (the "Reported" amounts) in the release. 
The Company believes that these non-GAAP financial measures improve the transparency of the Company’s disclosure by providing period-to-period comparability of the
Company’s results from operations.


37
NON-GAAP RECONCILIATIONS
Consolidated
Franchised Dealerships
EchoPark®
Three Months Ended
Three Months Ended
Three Months Ended
June 30,
June 30,
June 30,
2015
2014
2015
2014
2015
2014
(In millions)
Operating Profit Reconciliation:
As Reported . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
43.1
$                
63.6
$                
46.9
$                
66.8
$                
(3.8)
$                
(3.2)
$                
Pre-tax Adjustments:
SG&A . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . .
3.2
                    
(5.9)
                 
3.2
                    
(5.9)
                 
-
                   
-
                  
Impairment charges . . . . . . . . . . . . .. . . . . . . . . . . . . . . . .
10.4
                  
-
                  
10.4
                  
-
                  
-
                   
-
                  
Total pre-tax adjustments . . . . . . .. . . . . . . . . . . . . . .
13.6
                  
(5.9)
                 
13.6
                  
(5.9)
                 
-
                   
-
                  
Adjusted Operating Profit  . . . . . .. . . . . . . . . . . . . . . . . . . . .
56.7
$                
57.7
$                
60.5
$                
60.9
$                
(3.8)
$                
(3.2)
$                
Pre-tax Profit from Continuing Operations Reconciliation:
As Reported . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
24.7
$               
44.9
$                
28.8
$                
48.1
$                
(4.1)
$                
(3.2)
$                
Pre-tax Adjustments:
SG&A . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . .
3.2
                    
(5.9)
                 
3.2
                    
(5.9)
                 
-
                   
-
                  
Impairment charges . . . . . . . . . . . . .. . . . . . . . . . . . . . . . .
10.4
                  
-
                  
10.4
                  
-
                  
-
                   
-
                  
Total pre-tax adjustments . . . . . . .. . . . . . . . . . . . . . .
13.6
                  
(5.9)
                 
13.6
                  
(5.9)
                 
-
                   
-
                  
Adjusted Pre-tax Profit from Continuing Operations . . . . .
38.3
$                
39.0
$                
42.4
$                
42.2
$                
(4.1)
$                
(3.2)
$                
Profit from Continuing Operations (after-tax) Reconciliation:
As Reported . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
15.1
$                
27.1
$                
After-tax Adjustments:
SG&A . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . .
2.0
                    
(3.6)
                 
Impairment charges . . . . . . . . . . . . .. . . . . . . . . . . . . . . . .
6.3
                    
-
                  
Total after-tax adjustments . . . . . .. . . . . . . . . . . . . . .
8.3
                    
(3.6)
                 
Adjusted Profit from Continuing Operations (after-tax) . . .
23.4
$                
23.5
$                


NON-GAAP RECONCILIATIONS
38
Consolidated
Franchised Dealerships
EchoPark®
Six Months Ended
Six Months Ended
Six Months Ended
June 30,
June 30,
June 30,
2015
2014
2015
2014
2015
2014
(In millions)
SG&A Reconciliation:
As Reported . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
555.5
$              
532.9
$              
544.0
$              
527.9
$              
11.5
$                
5.0
$                  
Pre-tax Adjustments:
Gain on disposal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1.0
                    
7.3
                   
1.0
                    
7.3
                   
-
                   
-
                  
Storm damage, severance and other . . . . .. . . . . . . . . . . .
(5.2)
                  
(1.4)
                 
(5.2)
                  
(1.4)
                 
-
                   
-
                  
Total pre-tax adjustments . . . . . . .. . . . . . . . . . . . . . .
(4.2)
                  
5.9
                   
(4.2)
                  
5.9
                   
-
                   
-
                  
Adjusted SG&A  . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . .
551.3
$             
538.8
$              
539.8
$              
533.8
$              
11.5
$                
5.0
$                  
SG&A as % of Gross Reconciliation:
As Reported . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
80.5%
78.8%
79.3%
78.1%
NM
NM
Pre-tax Adjustments:
Gain on disposal . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . .
0.1%
1.1%
0.1%
1.1%
NM
NM
Storm damage, severance and other . . . . . . . . . . . .. . . . .
(0.8%)
(0.2%)
(0.7%)
(0.2%)
NM
NM
Total pre-tax adjustments . . . . . . . . . . . . . .. . . . . . . .
(0.7%)
0.9%
(0.6%)
0.9%
NM
NM
Adjusted SG&A as % of Gross . . . . . . . . . . . . .. . . . . . . . . .
79.8%
79.7%
78.7%
79.0%
NM
NM
NM = Not meaningful


39
NON-GAAP RECONCILIATIONS
Consolidated
Franchised Dealerships
EchoPark®
Six Months Ended
Six Months Ended
Six Months Ended
June 30,
June 30,
June 30,
2015
2014
2015
2014
2015
2014
(In millions)
Operating Profit Reconciliation:
As Reported . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
84.6
$                
114.2
$              
94.6
$                
119.2
$              
(10.0)
$              
(5.0)
$                
Pre-tax Adjustments:
SG&A . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . .
4.2
                    
(5.9)
                 
4.2
                    
(5.9)
                 
-
                   
-
                  
Impairment charges . . . . . . . . . . . . .. . . . . . . . . . . . . . . . .
16.7
                  
-
                  
15.3
                  
-
                  
1.4
                    
-
                  
Total pre-tax adjustments . . . . . . .. . . . . . . . . . . . . . .
20.9
                  
(5.9)
                 
19.5
                  
(5.9)
                 
1.4
                    
-
                  
Adjusted Operating Profit  . . . . . .. . . . . . . . . . . . . . . . . . . . .
105.5
$              
108.3
$              
114.1
$              
113.3
$              
(8.6)
$                
(5.0)
$                
Pre-tax Profit from Continuing Operations Reconciliation:
As Reported . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
48.3
$               
77.1
$                
58.7
$                
82.1
$                
(10.4)
$              
(5.0)
$                
Pre-tax Adjustments:
SG&A . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . .
4.2
                    
(5.9)
                 
4.2
                    
(5.9)
                 
-
                   
-
                  
Impairment charges . . . . . . . . . . . . .. . . . . . . . . . . . . . . . .
16.7
                  
-
                  
15.3
                  
-
                  
1.4
                    
-
                  
Total pre-tax adjustments . . . . . . .. . . . . . . . . . . . . . .
20.9
                  
(5.9)
                 
19.5
                  
(5.9)
                 
1.4
                    
-
                  
Adjusted Pre-tax Profit from Continuing Operations . . . . .
69.2
$                
71.2
$                
78.2
$                
76.2
$                
(9.0)
$                
(5.0)
$                
Profit from Continuing Operations (after-tax) Reconciliation:
As Reported . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
29.5
$                
47.0
$                
After-tax Adjustments:
SG&A . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . .
2.6
                    
(3.6)
                 
Impairment charges . . . . . . . . . . . . .. . . . . . . . . . . . . . . . .
10.2
                  
-
                  
Total after-tax adjustments . . . . . .. . . . . . . . . . . . . . .
12.7
                  
(3.6)
                 
Adjusted Profit from Continuing Operations (after-tax) . . .
42.2
$                
43.4
$                


40
NON-GAAP RECONCILIATIONS
Three Months Ended June 30, 2015
Income (Loss)
Income (Loss)
From Continuing
From Discontinued
Operations
Average
Net Income (Loss)
Weighted
Per
Per
Per
Average
Share
Share
Share
Shares
Amount
Amount
Amount
Amount
Amount
Amount
(In thousands, except per share amounts)
Reported:
Earnings (loss) and shares . . . . . . . . . . . . . . . . . .
50,784
       
15,092
$     
(311)
$       
14,781
$     
Effect of participating securities:
Non-vested restricted stock
and stock units . . . . . . . . . . . . . . . . . . . . .. . .
(7)
               
-
                
(7)
               
Basic earnings (loss) and shares . . . . . . . . . . . . .
50,784
       
15,085
$     
0.30
$       
(311)
$       
(0.01)
$     
14,774
$     
0.29
$       
Effect of dilutive securities:
Stock compensation plans . . . . . . . . . . . . . . . .
309
             
Diluted earnings (loss) and shares . . . . . . . . . . . .
51,093
       
15,085
$     
0.30
$       
(311)
$       
(0.01)
$     
14,774
$     
0.29
$       
Adjustments (net of tax):
Gain on disposal. . . . . . . . . . . . . . . . . . . . .. . . . .
(645)
$        
(0.01)
$     
-
$              
-
$        
(645)
$        
(0.01)
$     
Impairment charges. . . . . . . . . . . . . . . . . . . .. . . .
6,386
         
0.12
         
-
                
-
           
6,386
         
0.12
         
Storm damage and other. . . . . . . . . . .. . . . . . . . . .
2,555
         
0.05
         
-
                
-
           
2,555
         
0.05
         
Total adjustments . . . . . . . . . . . . .. . . . . . . . . .
8,296
$       
0.16
$       
-
$              
-
$        
8,296
$       
0.16
$       
Adjusted:
Earnings (loss) and
Diluted earnings (loss) per share (1) . . . . . . . .
23,388
$     
0.46
$       
(311)
$       
(0.01)
$     
23,077
$     
0.45
$       
(1) Expenses attributable to EchoPark® operations were $0.05 per fully diluted share in the three months ended June 30, 2015.


41
NON-GAAP RECONCILIATIONS
Three Months Ended June 30, 2014
Income (Loss)
Income (Loss)
From Continuing
From Discontinued
Operations
Operations
Net Income (Loss)
Weighted
Per
Per
Per
Average
Share
Share
Share
Shares
Amount
Amount
Amount
Amount
Amount
Amount
(In thousands, except per share amounts)
Reported:
Earnings (loss) and shares . . . . . . . . . . . . . . . . . .
52,514
       
27,061
$     
(68)
$         
26,993
$     
Effect of participating securities:
Non-vested restricted stock
and stock units . . . . . . . . . . . . . . . . . . . . .. . .
(87)
             
-
                
(87)
             
Basic earnings (loss) and shares . . . . . . . . . . . . .
52,514
       
26,974
$     
0.51
$       
(68)
$         
-
$        
26,906
$     
0.51
$       
Effect of dilutive securities:
Stock compensation plans . . . .. . . . . . . . . . . . .
416
             
Diluted earnings (loss) and shares. . . . . . . . . . . .
52,930
       
26,974
$     
0.51
$       
(68)
$         
-
$        
26,906
$     
0.51
$       
Adjustments (net of tax):
Gain on disposal. . . . . . . . . . . . . . . . . . . . .. . . . .
(4,446)
$     
(0.08)
$     
-
$              
-
$        
(4,446)
$     
(0.08)
$     
Storm damage and other. . . . . . . . . . . . . . . . . .. . .
840
             
0.01
         
-
                
-
           
840
             
0.01
         
Total adjustments . . . . . . . . . . . . .. . . . . . . . . .
(3,606)
$     
(0.07)
$     
-
$              
-
$        
(3,606)
$     
(0.07)
$     
Adjusted:
Earnings (loss) and
Diluted earnings (loss) per share (2) . . . . . . . .
23,455
$     
0.44
$       
(68)
$         
-
$        
23,387
$     
0.44
$       
(2) Expenses attributable to EchoPark® operations were $0.04 per fully diluted share in the three months ended June 30, 2014.


42
NON-GAAP RECONCILIATIONS
Six Months Ended June 30, 2015
Income (Loss)
Income (Loss)
From Continuing
From Discontinued
Operations
Operations
Net Income (Loss)
Weighted
Per
Per
Per
Average
Share
Share
Share
Shares
Amount
Amount
Amount
Amount
Amount
Amount
(In thousands, except per share amounts)
Reported:
Earnings (loss) and shares . . . . . . . . . . . . . . . . . .
50,819
       
29,481
$     
(732)
$       
28,749
$     
Effect of participating securities:
Non-vested restricted stock
and stock units . . . . . . . . . . . . . . . . . . . . .. . .
(14)
             
-
                
(14)
             
Basic earnings (loss) and shares . . . . . . . . . . . . .
50,819
       
29,467
$     
0.58
$       
(732)
$       
(0.01)
$     
28,735
$     
0.57
$       
Effect of dilutive securities:
Stock compensation plans . . . .. . . . . . . . . . . . .
428
             
Diluted earnings (loss) and shares. . . . . . . . . . . .
51,247
       
29,467
$     
0.57
$       
(732)
$       
(0.01)
$     
28,735
$     
0.56
$       
Adjustments (net of tax):
Gain on disposal. . . . . . . . . . . . . . . . . . . . .. . . . .
(583)
$        
(0.01)
$     
-
$              
-
$        
(583)
$        
(0.01)
$     
Impairment charges. . . . . . . . . . . . . . . . . . . .. . . .
10,166
       
0.20
         
-
                
-
           
10,166
       
0.20
         
Storm damage and other. . . . . . . . . . .. . . . . . . . . .
3,132
         
0.06
         
-
                
-
           
3,132
         
0.06
         
Total adjustments . . . . . . . . . . . . .. . . . . . . . . .
12,715
$     
0.25
$       
-
$              
-
$        
12,715
$     
0.25
$       
Adjusted:
Earnings (loss) and
Diluted earnings (loss) per share (3) . . . . . . . .
42,196
$     
0.82
$       
(732)
$       
(0.01)
$     
41,464
$     
0.81
$       
(3) Expenses attributable to EchoPark® operations were $0.11 per fully diluted share in the six months ended June 30, 2015.


43
NON-GAAP RECONCILIATIONS
Six Months Ended June 30, 2014
Income (Loss)
Income (Loss)
From Continuing
From Discontinued
Operations
Operations
Net Income (Loss)
Weighted
Per
Per
Per
Average
Share
Share
Share
Shares
Amount
Amount
Amount
Amount
Amount
Amount
(In thousands, except per share amounts)
Reported:
Earnings (loss) and shares . . . . . . . . . . . . . . . . . .
52,466
       
47,045
$     
(666)
$       
46,379
$     
Effect of participating securities:
Non-vested restricted stock
and stock units . . . . . . . . . . . . . . . . . . . . .. . .
(151)
           
-
                
(151)
           
Basic earnings (loss) and shares . .. . . . . . . . . . . .
52,466
       
46,894
$     
0.89
$       
(666)
$       
(0.01)
$     
46,228
$     
0.88
$       
Effect of dilutive securities:
Stock compensation plans . . . .. . . . . . . . . . . . .
472
             
Diluted earnings (loss) and shares . . . . . . . . . . . .
52,938
       
46,894
$     
0.89
$       
(666)
$       
(0.02)
$     
46,228
$     
0.87
$       
Adjustments (net of tax):
Gain on disposal. . . . . . . . . . . . . . . . . . . . .. . . . .
(4,446)
$     
(0.08)
$     
-
$              
-
$        
(4,446)
$     
(0.08)
$     
Storm damage and other. . . . . . . . . . . . . . . . . .. . .
840
             
0.01
         
-
                
-
           
840
             
0.01
         
Effect of two-class method & rounding . . . . . . .
-
                 
-
           
-
                
0.01
         
-
                 
0.01
         
Total adjustments . . . . . . . . . . . . .. . . . . . . . . .
(3,606)
$     
(0.07)
$     
-
$              
0.01
$       
(3,606)
$     
(0.06)
$     
Adjusted:
Earnings (loss) and
Diluted earnings (loss) per share (4) . . . . . . . .
43,439
$     
0.82
$       
(666)
$       
(0.01)
$     
42,773
$     
0.81
$       
(4) Expenses attributable to EchoPark® operations were $0.06 per fully diluted share in the six months ended June 30, 2014.