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Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
REVENUES:        
New vehicle retail sales $ 1,386,667 $ 1,141,286 $ 3,873,121 $ 3,134,591
Used vehicle retail sales 529,828 462,395 1,536,031 1,333,603
Used vehicle wholesale sales 85,800 78,424 243,667 218,415
Parts and service sales 255,316 224,990 753,776 658,404
Finance, insurance and other, net 82,536 69,477 232,494 192,130
Total revenues 2,340,147 1,976,572 6,639,089 5,537,143
COST OF SALES:        
New vehicle retail sales 1,313,372 1,074,736 3,656,825 2,951,379
Used vehicle retail sales 488,346 424,663 1,410,768 1,220,628
Used vehicle wholesale sales 87,334 79,067 242,267 216,031
Parts and service sales 121,633 106,875 358,004 312,106
Total cost of sales 2,010,685 1,685,341 5,667,864 4,700,144
GROSS PROFIT 329,462 291,231 971,225 836,999
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES (246,863) (216,082) (731,455) (629,521)
DEPRECIATION AND AMORTIZATION EXPENSE (9,093) (8,096) (26,390) (23,074)
ASSET IMPAIRMENTS (565) 0 (1,174) (288)
INCOME FROM OPERATIONS 72,941 67,053 212,206 184,116
OTHER EXPENSE:        
Floorplan interest expense (10,690) (7,942) (30,927) (23,424)
Other interest expense, net (9,971) (9,619) (28,783) (27,849)
Other expense, net 0 0 (789) 0
INCOME BEFORE INCOME TAXES 52,280 49,492 151,707 132,843
PROVISION FOR INCOME TAXES (19,515) (18,157) (59,436) (49,766)
NET INCOME $ 32,765 $ 31,335 $ 92,271 $ 83,077
BASIC EARNINGS PER SHARE $ 1.34 $ 1.38 $ 3.83 $ 3.64
Weighted average common shares outstanding 23,373 21,521 22,994 21,600
DILUTED EARNINGS PER SHARE $ 1.19 $ 1.32 $ 3.52 $ 3.50
Weighted average common shares outstanding 26,342 22,458 25,153 22,501
CASH DIVIDENDS PER COMMON SHARE $ 0.17 $ 0.15 $ 0.48 $ 0.44