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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
REVENUE:    
New vehicle $ 2,064.3 $ 1,767.7
Used vehicle 1,356.9 1,126.5
Parts and service 590.4 515.6
Finance and insurance, net 189.7 172.5
TOTAL REVENUE 4,201.2 3,582.3
COST OF SALES:    
New vehicle 1,901.4 1,588.8
Used vehicle 1,285.0 1,049.5
Parts and service 256.2 233.5
Finance and insurance 8.6 14.3
TOTAL COST OF SALES 3,451.2 2,886.1
GROSS PROFIT 750.0 696.2
OPERATING EXPENSES:    
Selling, general, and administrative 468.6 403.0
Depreciation and amortization 18.7 16.7
INCOME FROM OPERATIONS 262.8 276.5
OTHER EXPENSES:    
Floor plan interest expense 22.8 0.6
Other interest expense, net 44.1 37.3
Total other expenses, net 66.9 38.0
INCOME BEFORE INCOME TAXES 195.8 238.5
Income tax expense 48.8 57.1
NET INCOME $ 147.1 $ 181.4
Basic—    
Net income (in dollars per share) $ 7.24 $ 8.42
Diluted—    
Net income (in dollars per share) $ 7.21 $ 8.37
WEIGHTED AVERAGE SHARES OUTSTANDING:    
Basic (in shares) 20.3 21.6
Diluted (in shares) 20.4 21.7
Performance share units    
WEIGHTED AVERAGE SHARES OUTSTANDING:    
Incremental common shares (in shares) 0.1 0.1