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, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues:        
Revenues $ 3,453,000,000 $ 3,652,900,000 $ 6,837,000,000 $ 7,144,100,000
Cost of Sales:        
Cost of Sales (2,913,900,000) (3,084,000,000) (5,761,700,000) (6,021,600,000)
Gross profit 539,100,000 568,900,000 1,075,300,000 1,122,500,000
Selling, general and administrative expenses (393,000,000.0) (391,900,000) (785,300,000) (804,700,000)
Asset impairment charges 1,400,000 62,600,000 (2,400,000) 62,600,000
Depreciation and amortization (37,000,000.0) (36,100,000) (73,200,000) (70,500,000)
Operating income (loss) 107,700,000 78,300,000 214,400,000 184,700,000
Other income (expense):        
Interest expense, floor plan (22,200,000) (17,000,000.0) (42,500,000) (31,500,000)
Interest expense, other, net (29,300,000) (28,900,000) (58,300,000) (57,300,000)
Other income (expense), net (500,000) 100,000 (400,000) 200,000
Total other income (expense) (52,000,000.0) (45,800,000) (101,200,000) (88,600,000)
Income (loss) from continuing operations before taxes 55,700,000 32,500,000 113,200,000 96,100,000
Provision for income taxes for continuing operations - benefit (expense) (14,500,000) (9,100,000) (30,000,000.0) (25,000,000.0)
Discontinued operations:        
Net income (loss) $ 41,200,000 $ 23,400,000 $ 83,200,000 $ 71,100,000
Basic earnings (loss) per common share:        
Earnings (loss) per common share (usd per share) $ 1.21 $ 0.66 $ 2.45 $ 2.00
Weighted average common shares outstanding 34,000 35,300 34,000 35,600
Diluted earnings (loss) per common share:        
Earnings (loss) per common share (usd per share) $ 1.18 $ 0.65 $ 2.39 $ 1.95
Weighted average common shares outstanding 34,900 36,000 34,800 36,500
Total vehicles        
Revenues:        
Revenues $ 2,836,300,000 $ 3,033,900,000 $ 5,604,600,000 $ 5,925,900,000
Cost of Sales:        
Cost of Sales (2,693,400,000) (2,860,700,000) (5,318,300,000) (5,580,700,000)
New vehicles        
Revenues:        
Revenues 1,578,800,000 1,636,500,000 3,054,200,000 3,098,100,000
Cost of Sales:        
Cost of Sales (1,480,000,000) (1,493,800,000) (2,858,300,000) (2,816,500,000)
Used vehicles        
Revenues:        
Revenues 1,186,200,000 1,305,900,000 2,401,800,000 2,650,800,000
Cost of Sales:        
Cost of Sales (1,141,500,000) (1,274,400,000) (2,310,100,000) (2,589,300,000)
Wholesale vehicles        
Revenues:        
Revenues 71,300,000 91,500,000 148,600,000 177,000,000.0
Cost of Sales:        
Cost of Sales (71,900,000) (92,500,000) (149,900,000) (174,900,000)
Retail New Vehicles [Member]        
Revenues:        
Revenues 1,552,600,000 1,608,200,000 3,008,400,000 3,051,000,000
Cost of Sales:        
Cost of Sales (1,454,800,000) (1,466,800,000) (2,814,200,000) (2,771,500,000)
Fleet New Vehicles [Member]        
Revenues:        
Revenues 26,200,000 28,300,000 45,800,000 47,100,000
Cost of Sales:        
Cost of Sales (25,200,000) (27,000,000.0) (44,100,000) (45,000,000.0)
Parts, service and collision repair        
Revenues:        
Revenues 444,100,000 443,700,000 890,800,000 874,200,000
Cost of Sales:        
Cost of Sales (220,500,000) (223,300,000) (443,400,000) (440,900,000)
Finance, insurance and other, net        
Revenues:        
Revenues $ 172,600,000 $ 175,300,000 $ 341,600,000 $ 344,000,000.0