Annual report [Section 13 and 15(d), not S-K Item 405]

CONSOLIDATED STATEMENTS OF INCOME

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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenues:      
Total revenues $ 15,153,600,000 $ 14,224,300,000 $ 14,372,400,000
Cost of Sales (1):      
Total cost of sales (12,770,700,000) (12,031,500,000) (12,126,700,000)
Cost of Sales 12,770,700,000 12,031,500,000 12,126,700,000
Gross profit 2,382,900,000 2,192,800,000 2,245,700,000
Selling, general and administrative expenses (1,678,200,000) (1,577,000,000) (1,600,500,000)
Impairment charges 173,800,000 3,900,000 79,300,000
Depreciation and amortization (163,400,000) (150,400,000) (142,300,000)
Operating income 367,500,000 461,500,000 423,600,000
Other income (expense):      
Interest expense, floor plan (84,700,000) (86,900,000) (67,200,000)
Interest expense, other, net (110,100,000) (118,000,000.0) (114,600,000)
Other income (expense), net 100,000 (500,000) 100,000
Total other expense (194,700,000) (205,400,000) (181,700,000)
Income before taxes 172,800,000 256,100,000 241,900,000
Provision for income taxes - expense (54,100,000) 40,100,000 63,700,000
Discontinued operations:      
Net income $ 118,700,000 $ 216,000,000.0 $ 178,200,000
Basic earnings per common share:      
Earnings (loss) per common share (usd per share) $ 3.49 $ 6.34 $ 5.09
Weighted average common shares outstanding (in shares) 34,000 34,100 35,000
Diluted earnings per common share:      
Earnings (loss) per common share (usd per share) $ 3.42 $ 6.18 $ 4.97
Weighted average common shares outstanding (in shares) 34,700 35,000 35,900
Franchised Dealership Impairment [Member]      
Cost of Sales (1):      
Impairment charges     $ 1,000,000.0
Total vehicles      
Revenues:      
Total revenues   $ 11,670,000,000 11,929,200,000
Cost of Sales (1):      
Total cost of sales $ (11,780,700,000) (11,113,900,000) (11,241,200,000)
Cost of Sales 11,780,700,000 11,113,900,000 11,241,200,000
Used vehicles      
Revenues:      
Total revenues 4,872,600,000 4,780,100,000 5,213,600,000
Cost of Sales (1):      
Total cost of sales (4,691,500,000) (4,609,400,000) (5,062,400,000)
Cost of Sales 4,691,500,000 4,609,400,000 5,062,400,000
Wholesale vehicles      
Revenues:      
Total revenues 314,100,000 287,100,000 318,800,000
Cost of Sales (1):      
Total cost of sales (325,300,000) (293,100,000) (321,400,000)
Cost of Sales 325,300,000 293,100,000 321,400,000
Total new vehicles      
Revenues:      
Total revenues 7,148,900,000 6,602,800,000 6,396,800,000
Cost of Sales (1):      
Total cost of sales (6,763,900,000) (6,211,400,000) (5,857,400,000)
Cost of Sales 6,763,900,000 6,211,400,000 5,857,400,000
Fleet new vehicles      
Revenues:      
Total revenues 101,500,000 95,300,000 92,200,000
Cost of Sales (1):      
Total cost of sales (99,800,000) (92,300,000) (88,200,000)
Cost of Sales 99,800,000 92,300,000 88,200,000
Retail new vehicles      
Revenues:      
Total revenues 7,047,400,000 6,507,500,000 6,304,600,000
Cost of Sales (1):      
Total cost of sales (6,664,100,000) (6,119,100,000) (5,769,200,000)
Cost of Sales 6,664,100,000 6,119,100,000 5,769,200,000
Parts, service and collision repair      
Revenues:      
Total revenues 2,019,100,000 1,846,500,000 1,759,500,000
Cost of Sales (1):      
Total cost of sales (990,000,000.0) (917,600,000) (885,500,000)
Cost of Sales 990,000,000.0 917,600,000 885,500,000
Finance, insurance and other, net      
Revenues:      
Total revenues 798,900,000 $ 707,800,000 $ 683,700,000
Total_Vehicles [Member]      
Revenues:      
Total revenues $ 12,335,600,000