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Unaudited Condensed Consolidated Income Statements - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Document Fiscal Year Focus     2020  
TOTAL REVENUE $ 4,533.0 $ 5,343.8 $ 9,200.0 $ 10,325.6
TOTAL COST OF SALES (excluding depreciation shown below) 3,738.0 4,453.0 7,591.8 8,585.6
TOTAL GROSS PROFIT 795.0 890.8 1,608.2 1,740.0
Selling, general, and administrative expenses 547.9 637.0 1,148.6 1,260.0
Depreciation and amortization 49.1 44.4 97.2 88.5
Goodwill impairment 0.0 0.0 318.3 0.0
Franchise rights impairment 0.0 9.6 57.5 9.6
Other (income) expense, net (3.4) (3.7) 4.5 (12.4)
OPERATING INCOME (LOSS) 201.4 203.5 (17.9) 394.3
Non-operating income (expense) items:        
Floorplan interest expense (16.3) (37.4) (41.8) (76.4)
Other interest expense (23.2) (27.7) (46.7) (55.5)
Interest income 0.1 0.1 0.2 0.3
Other income (loss), net 214.5 (0.3) 211.5 1.6
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 376.5 138.2 105.3 264.3
Income tax provision 96.6 37.2 57.6 71.2
NET INCOME FROM CONTINUING OPERATIONS 279.9 101.0 47.7 193.1
Loss from discontinued operations, net of income taxes (0.1) (0.2) (0.2) (0.3)
NET INCOME $ 279.8 $ 100.8 $ 47.5 $ 192.8
BASIC EARNINGS (LOSS) PER SHARE:        
Continuing operations (in dollars per share) [1] $ 3.18 $ 1.12 $ 0.54 $ 2.14
Discontinued operations (in dollars per share) [1] 0 0 0 0
Net income (in dollars per share) [1] $ 3.18 $ 1.12 $ 0.53 $ 2.14
Weighted average common shares outstanding (in shares) 87.9 89.9 89.0 90.2
DILUTED EARNINGS (LOSS) PER SHARE:        
Continuing operations (in dollars per share) [1] $ 3.18 $ 1.12 $ 0.54 $ 2.14
Discontinued operations (in dollars per share) [1] 0 0 0 0
Net income (in dollars per share) [1] $ 3.18 $ 1.12 $ 0.53 $ 2.13
Weighted average common shares outstanding (in shares) 88.1 90.2 89.0 90.4
COMMON SHARES OUTSTANDING, net of treasury stock, at period end (in shares) 87.2 89.1 87.2 89.1
New Vehicle [Member]        
TOTAL REVENUE $ 2,261.3 $ 2,769.6 $ 4,543.2 $ 5,266.3
TOTAL COST OF SALES (excluding depreciation shown below) 2,141.7 2,644.1 4,327.2 5,018.9
TOTAL GROSS PROFIT 119.6 125.5 216.0 247.4
Used Vehicle [Member]        
TOTAL REVENUE 1,324.5 1,379.4 2,573.2 2,719.0
TOTAL COST OF SALES (excluding depreciation shown below) 1,207.5 1,282.6 2,365.2 2,531.7
TOTAL GROSS PROFIT 117.0 96.8 208.0 187.3
Parts and Service [Member]        
TOTAL REVENUE 689.9 901.5 1,566.2 1,778.2
TOTAL COST OF SALES (excluding depreciation shown below) 378.5 489.6 866.0 967.4
TOTAL GROSS PROFIT 311.4 411.9 700.2 810.8
Finance and Insurance, Net [Member]        
TOTAL REVENUE 246.4 255.2 482.2 491.7
TOTAL GROSS PROFIT 246.4 255.2 482.2 491.7
Product and Service, Other [Member]        
TOTAL REVENUE 10.9 38.1 35.2 70.4
TOTAL COST OF SALES (excluding depreciation shown below) 10.3 36.7 33.4 67.6
TOTAL GROSS PROFIT $ 0.6 $ 1.4 $ 1.8 $ 2.8
[1] Earnings per share amounts are calculated discretely and therefore may not add up to the total due to rounding.