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, $ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Revenues:    
New vehicles $ 1,180,846 $ 1,171,932
Used vehicles 709,046 634,474
Wholesale vehicles 65,398 46,310
Total vehicles 1,955,290 1,852,716
Parts, service and collision repair 351,758 352,043
Finance, insurance and other, net 93,725 83,063
Total revenues 2,400,773 2,287,822
Cost of Sales:    
New vehicles (1,124,046) (1,113,654)
Used vehicles (672,275) (593,641)
Wholesale vehicles (69,823) (47,482)
Total vehicles (1,866,144) (1,754,777)
Parts, service and collision repair (182,130) (182,699)
Total cost of sales (2,048,274) (1,937,476)
Gross profit 352,499 350,346
Selling, general and administrative expenses (304,925) (292,234)
Impairment charges (3,643) (510)
Depreciation and amortization (23,743) (21,153)
Operating income (loss) 20,188 36,449
Other income (expense):    
Interest expense, floor plan (10,677) (8,387)
Interest expense, other, net (13,456) (13,409)
Other income (expense), net 89 (14,501)
Total other income (expense) (24,044) (36,297)
Income (loss) from continuing operations before taxes (3,856) 152
Provision for income taxes for continuing operations - benefit (expense) 1,842 (172)
Income (loss) from continuing operations (2,014) (20)
Discontinued operations:    
Income (loss) from discontinued operations before taxes (248) (868)
Provision for income taxes for discontinued operations - benefit (expense) 68 347
Income (loss) from discontinued operations (180) (521)
Net income (loss) $ (2,194) $ (541)
Basic earnings (loss) per common share:    
Earnings (loss) per share from continuing operations (usd per share) $ (0.05) $ 0.00
Earnings (loss) per share from discontinued operations (usd per share) 0.00 (0.01)
Earnings (loss) per common share (usd per share) $ (0.05) $ (0.01)
Weighted average common shares outstanding (shares) 42,789 44,791
Diluted earnings (loss) per common share:    
Earnings (loss) per share from continuing operations (usd per share) $ (0.05) $ 0.00
Earnings (loss) per share from discontinued operations (usd per share) 0.00 (0.01)
Earnings (loss) per common share (usd per share) $ (0.05) $ (0.01)
Weighted average common shares outstanding 42,789 44,791
Dividends declared per common share (usd per share) $ 0.06 $ 0.05