| Consolidated Statements of Income by Quarter |
The following table summarizes Sonic’s results of operations as presented in the accompanying Consolidated Statements of Income by quarter for the years ended December 31, 2015 and 2014:
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First
Quarter
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Second
Quarter
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Third
Quarter
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Fourth
Quarter
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(In thousands, except per share data)
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Year Ended December 31, 2015
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Total revenues (1)
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$
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2,235,516
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$
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2,423,740
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$
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2,494,408
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$
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2,470,635
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Gross profit (1)
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$
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334,959
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$
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355,554
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$
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360,251
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$
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363,848
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Net income (loss) (2)
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$
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13,967
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$
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14,781
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$
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26,505
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$
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31,058
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Earnings (loss) per common share - Basic (2) (3)
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$
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0.27
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$
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0.29
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$
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0.53
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$
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0.62
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Earnings (loss) per common share - Diluted (2) (3)
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$
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0.27
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$
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0.29
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$
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0.52
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$
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0.62
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Year Ended December 31, 2014
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Total revenues (1)
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$
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2,136,387
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$
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2,353,280
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$
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2,355,604
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$
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2,351,828
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Gross profit (1)
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$
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329,000
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$
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346,947
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$
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341,489
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$
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348,464
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Net income (loss) (2)
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$
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19,386
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$
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26,993
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$
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24,712
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$
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26,126
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Earnings (loss) per common share - Basic (2) (3)
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$
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0.37
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$
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0.51
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$
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0.47
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$
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0.51
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Earnings (loss) per common share - Diluted (2) (3)
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$
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0.36
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$
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0.51
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$
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0.47
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$
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0.50
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Note: Operations are subject to seasonal variations. The first quarter generally contributes less operating profits than the second, third and fourth quarters. Parts and service demand remains more stable throughout the year.
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(1)
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Results are for continuing operations.
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(2)
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Results include both continuing operations and discontinued operations.
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(3)
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The sum of net income per common share for the quarters may not equal the full year amount due to weighted average common shares being calculated on a quarterly versus annual basis.
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