Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF INCOME

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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenues:      
Total revenues $ 12,396,400,000 $ 9,767,000,000 $ 10,454,300,000
Cost of Sales:      
Total cost of sales (10,482,100,000) (8,343,400,000) (8,933,300,000)
Gross profit 1,914,300,000 1,423,600,000 1,521,000,000
Selling, general and administrative expenses (1,274,700,000) (1,028,700,000) (1,099,400,000)
Impairment charges 100,000 270,000,000.0 20,800,000
Depreciation and amortization (101,100,000) (91,000,000.0) (93,100,000)
Operating income 538,400,000 33,900,000 307,700,000
Other income (expense):      
Interest expense, floor plan (16,700,000) (27,200,000) (48,500,000)
Interest expense, other, net (48,000,000.0) (41,600,000) (53,000,000.0)
Other income (expense), net (15,500,000) 100,000 (6,600,000)
Total other income (expense) (80,200,000) (68,700,000) (108,100,000)
Income (loss) from continuing operations before taxes 458,200,000 (34,800,000) 199,600,000
Provision for income taxes for continuing operations - benefit (expense) (109,300,000) (15,900,000) (55,100,000)
Income (loss) from continuing operations 348,900,000 (50,700,000) 144,500,000
Discontinued operations:      
Income (loss) from discontinued operations before taxes 0 (1,000,000.0) (600,000)
Provision for income taxes for discontinued operations - benefit (expense) 0 300,000 200,000
Income (loss) from discontinued operations 0 (700,000) (400,000)
Net income (loss) $ 348,900,000 $ (51,400,000) $ 144,100,000
Basic earnings (loss) per common share:      
Earnings (loss) per share from continuing operations (usd per share) $ 8.43 $ (1.19) $ 3.36
Earnings (loss) per share from discontinued operations (usd per share) 0 (0.02) (0.01)
Earnings (loss) per common share (usd per share) $ 8.43 $ (1.21) $ 3.35
Weighted average common shares outstanding (in shares) 41,404 42,483 43,016
Diluted earnings (loss) per common share:      
Earnings (loss) per share from continuing operations (usd per share) $ 8.06 $ (1.19) $ 3.31
Earnings (loss) per share from discontinued operations (usd per share) 0 (0.02) (0.01)
Earnings (loss) per common share (usd per share) $ 8.06 $ (1.21) $ 3.30
Weighted average common shares outstanding (in shares) 43,280 42,483 43,710
EchoPark Total Impairment [Member]      
Cost of Sales:      
Impairment charges $ 100,000 $ 0 $ 19,700,000
Franchised Dealership Impairment [Member]      
Cost of Sales:      
Impairment charges 0   1,100,000
New vehicles      
Revenues:      
Total revenues 5,118,000,000 4,281,200,000 4,889,200,000
Cost of Sales:      
Total cost of sales (4,656,700,000) (4,047,100,000) (4,656,100,000)
Used vehicles      
Revenues:      
Total revenues 4,877,200,000 3,564,800,000 3,490,000,000
Cost of Sales:      
Total cost of sales (4,745,300,000) (3,458,800,000) (3,342,600,000)
Wholesale vehicles      
Revenues:      
Total revenues 367,200,000 197,400,000 202,900,000
Cost of Sales:      
Total cost of sales (357,300,000) (198,300,000) (207,300,000)
Total vehicles      
Revenues:      
Total revenues 10,362,400,000 8,043,400,000 8,582,100,000
Cost of Sales:      
Total cost of sales (9,759,300,000) (7,704,200,000) (8,206,000,000)
Parts, service and collision repair      
Revenues:      
Total revenues 1,396,800,000 1,233,700,000 1,395,300,000
Cost of Sales:      
Total cost of sales (722,800,000) (639,200,000) (727,300,000)
Finance, insurance and other, net      
Revenues:      
Total revenues $ 637,200,000 $ 489,900,000 $ 476,900,000