Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF INCOME

v3.6.0.2
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Revenues:      
New vehicles $ 5,234,505 $ 5,265,401 $ 5,124,029
Used vehicles 2,533,122 2,512,024 2,310,247
Wholesale vehicles 211,048 155,339 166,158
Total vehicles 7,978,675 7,932,764 7,600,434
Parts, service and collision repair 1,409,819 1,364,947 1,296,570
Finance, insurance and other, net 343,285 326,588 300,095
Total revenues 9,731,779 9,624,299 9,197,099
Cost of Sales:      
New vehicles (4,973,911) (4,997,472) (4,835,403)
Used vehicles (2,374,537) (2,349,982) (2,153,001)
Wholesale vehicles (218,364) (162,707) (169,774)
Total vehicles (7,566,812) (7,510,161) (7,158,178)
Parts, service and collision repair (735,693) (699,526) (673,021)
Total cost of sales (8,302,505) (8,209,687) (7,831,199)
Gross profit 1,429,274 1,414,612 1,365,900
Selling, general and administrative expenses (1,110,856) (1,110,565) (1,067,433)
Impairment charges (8,063) (17,955) (6,594)
Depreciation and amortization (77,446) (68,799) (58,260)
Operating income (loss) 232,909 217,293 233,613
Other income (expense):      
Interest expense, floor plan (27,716) (21,326) (18,793)
Interest expense, other, net (50,106) (50,910) (53,190)
Other income (expense), net 125 99 97
Total other income (expense) (77,697) (72,137) (71,886)
Income (loss) from continuing operations before taxes 155,212 145,156 161,727
Provision for income taxes for continuing operations - benefit (expense) (60,696) (57,065) (63,168)
Income (loss) from continuing operations 94,516 88,091 98,559
Discontinued operations:      
Income (loss) from discontinued operations before taxes (2,121) (2,883) (2,164)
Provision for income taxes for discontinued operations - benefit (expense) 798 1,103 822
Income (loss) from discontinued operations (1,323) (1,780) (1,342)
Net income (loss) $ 93,193 $ 86,311 $ 97,217
Basic earnings (loss) per common share:      
Earnings (loss) per share from continuing operations $ 2.07 $ 1.74 $ 1.89
Earnings (loss) per share from discontinued operations (0.03) (0.03) (0.03)
Earnings (loss) per common share $ 2.04 $ 1.71 $ 1.86
Weighted average common shares outstanding 45,637 50,489 52,065
Diluted earnings (loss) per common share:      
Earnings (loss) per share from continuing operations $ 2.06 $ 1.73 $ 1.87
Earnings (loss) per share from discontinued operations (0.03) (0.03) (0.03)
Earnings (loss) per common share $ 2.03 $ 1.70 $ 1.84
Weighted average common shares outstanding 45,948 50,883 52,563
Dividends declared per common share $ 0.20 $ 0.11 $ 0.10