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 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues:        
Revenues $ 3,643,500,000 $ 3,448,100,000 $ 10,787,600,000 $ 10,410,500,000
Cost of Sales:        
Cost of Sales (3,061,300,000) (2,867,400,000) (9,083,000,000) (8,669,600,000)
Gross profit 582,200,000 580,700,000 1,704,600,000 1,740,900,000
Selling, general and administrative expenses (409,600,000) (399,000,000.0) (1,214,200,000) (1,188,800,000)
Impairment charges 0 0 (62,600,000) 0
Depreciation and amortization (35,200,000) (32,800,000) (105,700,000) (94,000,000.0)
Operating income (loss) 137,400,000 148,900,000 322,100,000 458,100,000
Other income (expense):        
Interest expense, floor plan (17,400,000) (9,600,000) (48,900,000) (20,600,000)
Interest expense, other, net (29,000,000.0) (22,900,000) (86,200,000) (65,100,000)
Other income (expense), net 200,000 0 300,000 100,000
Total other income (expense) (46,200,000) (32,500,000) (134,800,000) (85,600,000)
Income (loss) from continuing operations before taxes 91,200,000 116,400,000 187,300,000 372,500,000
Provision for income taxes for continuing operations - benefit (expense) (22,800,000) (29,100,000) (47,800,000) (93,100,000)
Discontinued operations:        
Net income (loss) $ 68,400,000 $ 87,300,000 $ 139,500,000 $ 279,400,000
Basic earnings (loss) per common share:        
Earnings (loss) per common share (usd per share) $ 1.96 $ 2.28 $ 3.94 $ 7.09
Weighted average common shares outstanding 34,900 38,300 35,400 39,400
Diluted earnings (loss) per common share:        
Earnings (loss) per common share (usd per share) $ 1.92 $ 2.23 $ 3.85 $ 6.90
Weighted average common shares outstanding 35,600 39,200 36,200 40,500
Total vehicles        
Revenues:        
Revenues $ 3,016,400,000 $ 2,874,300,000 $ 8,942,300,000 $ 8,716,600,000
Cost of Sales:        
Cost of Sales (2,833,200,000) (2,662,000,000) (8,414,000,000) (8,069,400,000)
New vehicles        
Revenues:        
Revenues 1,596,700,000 1,403,800,000 4,694,800,000 4,137,400,000
Cost of Sales:        
Cost of Sales (1,464,400,000) (1,240,300,000) (4,280,800,000) (3,636,100,000)
Used vehicles        
Revenues:        
Revenues 1,340,400,000 1,355,800,000 3,991,200,000 4,174,400,000
Cost of Sales:        
Cost of Sales (1,288,100,000) (1,304,900,000) (3,877,400,000) (4,029,100,000)
Wholesale vehicles        
Revenues:        
Revenues 79,300,000 114,700,000 256,300,000 404,800,000
Cost of Sales:        
Cost of Sales (80,700,000) (116,800,000) (255,800,000) (404,200,000)
Retail New Vehicles [Member]        
Revenues:        
Revenues 1,573,500,000 1,371,800,000 4,624,400,000 4,067,400,000
Cost of Sales:        
Cost of Sales (1,442,100,000) (1,209,600,000) (4,213,500,000) (3,569,200,000)
Fleet New Vehicles [Member]        
Revenues:        
Revenues 23,200,000 32,000,000.0 70,400,000 70,000,000.0
Cost of Sales:        
Cost of Sales (22,300,000) (30,700,000) (67,300,000) (66,900,000)
Parts, service and collision repair        
Revenues:        
Revenues 453,400,000 408,200,000 1,327,600,000 1,188,600,000
Cost of Sales:        
Cost of Sales (228,100,000) (205,400,000) (669,000,000.0) (600,200,000)
Finance, insurance and other, net        
Revenues:        
Revenues $ 173,700,000 $ 165,600,000 $ 517,700,000 $ 505,300,000