Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
shares in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Revenues:    
New vehicles $ 1,171,932,000 $ 1,164,570,000
Used vehicles 634,474,000 598,355,000
Wholesale vehicles 46,310,000 44,374,000
Total vehicles 1,852,716,000 1,807,299,000
Parts, service and collision repair 352,043,000 346,054,000
Finance, insurance and other, net 83,063,000 81,273,000
Total revenues 2,287,822,000 2,234,626,000
Cost of Sales:    
New vehicles (1,113,654,000) (1,106,146,000)
Used vehicles (593,641,000) (557,824,000)
Wholesale vehicles (47,482,000) (45,452,000)
Total vehicles (1,754,777,000) (1,709,422,000)
Parts, service and collision repair (182,699,000) (180,054,000)
Total cost of sales (1,937,476,000) (1,889,476,000)
Gross profit 350,346,000 345,150,000
Selling, general and administrative expenses (292,234,000) (284,375,000)
Impairment charges (510,000) 0
Depreciation and amortization (21,153,000) (18,470,000)
Operating income (loss) 36,449,000 42,305,000
Other income (expense):    
Interest expense, floor plan (8,387,000) (6,436,000)
Interest expense, other, net (13,409,000) (12,339,000)
Other income (expense), net (14,501,000) 104,000
Total other income (expense) (36,297,000) (18,671,000)
Income (loss) from continuing operations before taxes 152,000 23,634,000
Provision for income taxes for continuing operations - benefit (expense) (172,000) (9,170,000)
Income (loss) from continuing operations (20,000) 14,464,000
Discontinued operations:    
Income (loss) from discontinued operations before taxes (868,000) 261,000
Provision for income taxes for discontinued operations - benefit (expense) 347,000 (101,000)
Income (loss) from discontinued operations (521,000) 160,000
Net income (loss) $ (541,000) $ 14,624,000
Basic earnings (loss) per common share:    
Earnings (loss) per share from continuing operations   $ 0.31
Earnings (loss) per share from discontinued operations $ (0.01)  
Earnings (loss) per common share $ (0.01) $ 0.31
Weighted average common shares outstanding 44,791 46,950
Diluted earnings (loss) per common share:    
Earnings (loss) per share from continuing operations   $ 0.31
Earnings (loss) per share from discontinued operations $ (0.01)  
Earnings (loss) per common share $ (0.01) $ 0.31
Weighted average common shares outstanding 44,791 47,122
Dividends declared per common share $ 0.05 $ 0.05