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Consolidated Statements of Operations (Unaudited) (USD $)
In Thousands, except Per Share data
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
REVENUES:    
New vehicle retail sales$ 862,660$ 822,121$ 2,457,255$ 2,254,093
Used vehicle retail sales377,115340,6251,053,609960,376
Used vehicle wholesale sales69,05158,463191,609156,653
Parts and service sales210,067196,264609,108575,762
Finance, insurance and other, net51,49644,282142,255124,533
Total revenues1,570,3891,461,7554,453,8364,071,417
COST OF SALES:    
New vehicle retail sales806,498775,0462,304,0572,122,533
Used vehicle retail sales345,048310,055958,094870,823
Used vehicle wholesale sales69,25458,158187,651153,565
Parts and service sales100,83689,657289,295264,484
Total cost of sales1,321,6361,232,9163,739,0973,411,405
GROSS PROFIT248,753228,839714,739660,012
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES188,185173,925547,120522,796
DEPRECIATION AND AMORTIZATION EXPENSE6,8456,77219,88119,936
ASSET IMPAIRMENTS3,6441,6394,0083,121
INCOME FROM OPERATIONS50,07946,503143,730114,159
OTHER EXPENSE:    
Floorplan interest expense(6,964)(9,021)(20,245)(25,220)
Other interest expense, net(8,644)(6,894)(24,811)(20,265)
Loss on redemption of long-term debt   (3,872)
INCOME BEFORE INCOME TAXES34,47130,58898,67464,802
PROVISION FOR INCOME TAXES(12,977)(11,603)(37,135)(25,067)
NET INCOME$ 21,494$ 18,985$ 61,539$ 39,735
BASIC EARNINGS PER SHARE$ 0.98$ 0.85$ 2.75$ 1.74
Weighted average common shares outstanding22,02022,41922,37722,877
DILUTED EARNINGS PER SHARE$ 0.94$ 0.83$ 2.67$ 1.70
Weighted average common shares outstanding22,77822,92623,07323,414
CASH DIVIDENDS PER COMMON SHARE$ 0.13 $ 0.35