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Unaudited Condensed Consolidated Income Statements - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
TOTAL REVENUE $ 5,432.4 $ 5,567.5 $ 15,851.1 $ 16,128.5
TOTAL COST OF SALES (excluding depreciation shown below) 4,586.5 4,731.1 13,359.3 13,624.4
TOTAL GROSS PROFIT 845.9 836.4 2,491.8 2,504.1
Selling, general, and administrative expenses 607.5 591.3 1,814.1 1,765.2
Depreciation and amortization 41.4 36.3 118.0 107.0
Other income, net (14.2) (10.2) (54.4) (21.0)
OPERATING INCOME 211.2 219.0 614.1 652.9
Non-operating income (expense) items:        
Floorplan interest expense (25.1) (18.2) (70.7) (56.4)
Other interest expense (30.0) (28.9) (88.0) (85.9)
Interest income 0.2 0.3 0.8 0.8
Other income, net 1.6 2.6 6.4 3.4
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 157.9 174.8 462.6 514.8
Income tax provision 60.3 67.0 179.1 198.7
NET INCOME FROM CONTINUING OPERATIONS 97.6 107.8 283.5 316.1
Loss from discontinued operations, net of income taxes (0.1) (0.5) (0.2) (0.9)
NET INCOME $ 97.5 $ 107.3 $ 283.3 $ 315.2
BASIC EARNINGS (LOSS) PER SHARE:        
Continuing operations (in dollars per share) [1] $ 1.00 $ 1.06 $ 2.84 $ 3.05
Discontinued operations (in dollars per share) [1] 0.00 0.00 0.00 (0.01)
Net income (in dollars per share) [1] $ 1.00 $ 1.05 $ 2.84 $ 3.04
Weighted average common shares outstanding (in shares) 97.3 101.9 99.9 103.8
DILUTED EARNINGS (LOSS) PER SHARE:        
Continuing operations (in dollars per share) [1] $ 1.00 $ 1.05 $ 2.83 $ 3.02
Discontinued operations (in dollars per share) [1] 0.00 0.00 0.00 (0.01)
Net income (in dollars per share) [1] $ 1.00 $ 1.05 $ 2.82 $ 3.02
Weighted average common shares outstanding (in shares) 97.7 102.6 100.3 104.5
COMMON SHARES OUTSTANDING, net of treasury stock, at period end (in shares) 91.2 101.2 91.2 101.2
New Vehicle [Member]        
TOTAL REVENUE $ 3,108.4 $ 3,195.9 $ 8,835.5 $ 9,068.0
TOTAL COST OF SALES (excluding depreciation shown below) 2,963.6 3,037.7 8,408.2 8,597.8
TOTAL GROSS PROFIT 144.8 158.2 427.3 470.2
Used Vehicle [Member]        
TOTAL REVENUE 1,228.3 1,276.8 3,670.3 3,777.8
TOTAL COST OF SALES (excluding depreciation shown below) 1,142.6 1,199.6 3,433.1 3,525.6
TOTAL GROSS PROFIT 85.7 77.2 237.2 252.2
Parts and Service [Member]        
TOTAL REVENUE 841.6 843.8 2,544.2 2,498.9
TOTAL COST OF SALES (excluding depreciation shown below) 474.2 480.0 1,428.2 1,418.8
TOTAL GROSS PROFIT 367.4 363.8 1,116.0 1,080.1
Finance and Insurance, Net [Member]        
TOTAL REVENUE 241.6 229.6 692.0 678.1
TOTAL GROSS PROFIT 241.6 229.6 692.0 678.1
Other Goods and Services [Member]        
TOTAL REVENUE 12.5 21.4 109.1 105.7
TOTAL COST OF SALES (excluding depreciation shown below) 6.1 13.8 89.8 82.2
TOTAL GROSS PROFIT $ 6.4 $ 7.6 $ 19.3 $ 23.5
[1] Earnings per share amounts are calculated discretely and therefore may not add up to the total due to rounding.