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 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues:        
Revenues $ 3,652,900,000 $ 3,506,200,000 $ 7,144,100,000 $ 6,962,400,000
Cost of Sales:        
Cost of Sales (3,084,000,000) (2,917,400,000) (6,021,600,000) (5,802,300,000)
Gross profit 568,900,000 588,800,000 1,122,500,000 1,160,100,000
Selling, general and administrative expenses (391,900,000) (402,800,000) (804,700,000) (789,800,000)
Impairment charges (62,600,000) 0 (62,600,000) 0
Depreciation and amortization (36,100,000) (31,200,000) (70,500,000) (61,100,000)
Operating income (loss) 78,300,000 154,800,000 184,700,000 309,200,000
Other income (expense):        
Interest expense, floor plan (17,000,000.0) (6,100,000) (31,500,000) (11,100,000)
Interest expense, other, net (28,900,000) (21,300,000) (57,300,000) (42,100,000)
Other income (expense), net 100,000 (200,000) 200,000 100,000
Total other income (expense) (45,800,000) (27,600,000) (88,600,000) (53,100,000)
Income (loss) from continuing operations before taxes 32,500,000 127,200,000 96,100,000 256,100,000
Provision for income taxes for continuing operations - benefit (expense) (9,100,000) (32,400,000) (25,000,000.0) (64,000,000.0)
Discontinued operations:        
Net income (loss) $ 23,400,000 $ 94,800,000 $ 71,100,000 $ 192,100,000
Basic earnings (loss) per common share:        
Earnings (loss) per common share (usd per share) $ 0.66 $ 2.40 $ 2.00 $ 4.81
Weighted average common shares outstanding 35,300 39,500 35,600 40,000
Diluted earnings (loss) per common share:        
Earnings (loss) per common share (usd per share) $ 0.65 $ 2.34 $ 1.95 $ 4.67
Weighted average common shares outstanding 36,000 40,500 36,500 41,200
Total vehicles        
Revenues:        
Revenues $ 3,033,900,000 $ 2,933,800,000 $ 5,925,900,000 $ 5,842,200,000
Cost of Sales:        
Cost of Sales (2,860,700,000) (2,716,800,000) (5,580,700,000) (5,407,400,000)
New vehicles        
Revenues:        
Revenues 1,636,500,000 1,364,100,000 3,098,100,000 2,733,600,000
Cost of Sales:        
Cost of Sales (1,493,800,000) (1,194,900,000) (2,816,500,000) (2,395,800,000)
Used vehicles        
Revenues:        
Revenues 1,305,900,000 1,448,300,000 2,650,800,000 2,818,400,000
Cost of Sales:        
Cost of Sales (1,274,400,000) (1,401,700,000) (2,589,300,000) (2,724,000,000)
Wholesale vehicles        
Revenues:        
Revenues 91,500,000 121,400,000 177,000,000.0 290,200,000
Cost of Sales:        
Cost of Sales (92,500,000) (120,200,000) (174,900,000) (287,600,000)
Retail New Vehicles [Member]        
Revenues:        
Revenues 1,608,200,000 1,344,300,000 3,051,000,000 2,695,600,000
Cost of Sales:        
Cost of Sales (1,466,800,000) (1,176,000,000) (2,771,500,000) (2,359,600,000)
Fleet New Vehicles [Member]        
Revenues:        
Revenues 28,300,000 19,800,000 47,100,000 38,000,000.0
Cost of Sales:        
Cost of Sales (27,000,000.0) (18,900,000) (45,000,000.0) (36,200,000)
Parts, service and collision repair        
Revenues:        
Revenues 443,700,000 399,200,000 874,200,000 780,500,000
Cost of Sales:        
Cost of Sales (223,300,000) (200,600,000) (440,900,000) (394,900,000)
Finance, insurance and other, net        
Revenues:        
Revenues $ 175,300,000 $ 173,200,000 $ 344,000,000.0 $ 339,700,000