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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
REVENUES $ 2,889,058 $ 3,012,292 $ 8,692,546 $ 8,203,316
COST OF SALES 2,453,957 2,580,872 7,399,519 6,983,482
GROSS PROFIT 435,101 431,420 1,293,027 1,219,834
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES 316,771 328,327 949,210 916,674
DEPRECIATION AND AMORTIZATION EXPENSE 16,981 15,059 49,961 42,758
ASSET IMPAIRMENTS 23,159 9,526 27,427 9,526
INCOME FROM OPERATIONS 78,190 78,508 266,429 250,876
OTHER EXPENSE:        
Floorplan interest expense (14,685) (13,491) (43,335) (38,659)
Other interest expense, net (19,140) (17,874) (57,374) (52,188)
INCOME BEFORE INCOME TAXES 44,365 47,143 165,720 160,029
PROVISION FOR INCOME TAXES (9,587) (17,262) (38,666) (57,076)
NET INCOME $ 34,778 $ 29,881 $ 127,054 $ 102,953
BASIC EARNINGS PER SHARE (in dollars per share) $ 1.74 $ 1.43 $ 6.18 $ 4.85
Weighted average common shares outstanding (in shares) 19,253 20,222 19,859 20,475
DILUTED EARNINGS PER SHARE (in dollars per share) $ 1.74 $ 1.43 $ 6.18 $ 4.85
Weighted average common shares outstanding (in shares) 19,261 20,225 19,868 20,480
CASH DIVIDENDS PER COMMON SHARE (in dollars per share) $ 0.26 $ 0.24 $ 0.78 $ 0.72
New vehicle retail sales        
REVENUES $ 1,539,498 $ 1,710,241 $ 4,608,658 $ 4,496,222
COST OF SALES 1,461,896 1,621,909 4,379,047 4,263,752
Used vehicle retail sales        
REVENUES 792,405 743,038 2,394,828 2,089,914
COST OF SALES 742,250 695,915 2,249,964 1,952,873
Used vehicle wholesale sales        
REVENUES 86,570 104,827 283,453 308,361
COST OF SALES 86,884 105,012 281,871 308,713
Parts and service sales        
REVENUES 354,501 343,193 1,062,145 994,522
COST OF SALES 162,927 158,036 488,637 458,144
Finance, insurance and other, net        
REVENUES $ 116,084 $ 110,993 $ 343,462 $ 314,297