Unaudited Condensed Consolidated Statements Of Income - USD ($) shares in Millions, $ in Millions |
3 Months Ended | 6 Months Ended | |||||
|---|---|---|---|---|---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
Jun. 30, 2023 |
Jun. 30, 2022 |
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| TOTAL REVENUE | $ 6,890.1 | $ 6,869.2 | $ 13,288.8 | $ 13,622.0 | | ||
| TOTAL COST OF SALES | 5,554.8 | 5,507.5 | 10,667.1 | 10,951.4 | |||
| TOTAL GROSS PROFIT | 1,335.3 | 1,361.7 | 2,621.7 | 2,670.6 | |||
| Selling, general, and administrative expenses | 842.9 | 754.8 | 1,625.6 | 1,496.2 | | ||
| Depreciation and amortization | 54.6 | 48.8 | 107.4 | 98.8 | | ||
| Other (income) expense, net | (1.4) | 0.0 | 6.2 | (1.5) | | | |
| Total Operating Expenses | 896.1 | 803.6 | 1739.2 | 1593.5 | 0 | |
|
| OPERATING INCOME | 439.2 | 558.1 | 882.5 | 1,077.1 | | ||
| Non-operating income (expense) items: | | ||||||
| Floorplan interest expense | (32.8) | (5.8) | (59.9) | (11.0) | | ||
| Other interest expense | (46.0) | (34.1) | (87.1) | (63.7) | | ||
| Total Other Income Expenses | -74.4 | -53.6 | -137.4 | -94.8 | 0 | |
|
| Other income (loss), net | 4.4 | (13.7) | 9.6 | (20.1) | | | |
| INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES | 364.8 | 504.5 | 745.1 | 982.3 | | ||
| Income tax provision | 92.3 | 128.0 | 184.8 | 243.7 | | ||
| NET INCOME FROM CONTINUING OPERATIONS | 272.5 | 376.5 | 560.3 | 738.6 | |||
| Income (loss) from discontinued operations, net of income taxes | 0.0 | (0.2) | 0.9 | (0.2) | | ||
| NET INCOME | $ 272.5 | $ 376.3 | $ 561.2 | $ 738.4 | | ||
| BASIC EARNINGS (LOSS) PER SHARE: | |||||||
| Continuing operations (in dollars per share) | [1] | $ 6.06 | $ 6.51 | $ 12.15 | $ 12.33 | ||
| Discontinued operations (in dollars per share) | [1] | 0 | 0 | 0.02 | 0 | ||
| Net income (in dollars per share) | [1] | $ 6.06 | $ 6.51 | $ 12.17 | $ 12.33 | ||
| Weighted average common shares outstanding (in shares) | 45.0 | 57.8 | 46.1 | 59.9 | |||
| DILUTED EARNINGS (LOSS) PER SHARE: | |||||||
| Continuing operations (in dollars per share) | [1] | $ 6.02 | $ 6.48 | $ 12.08 | $ 12.25 | ||
| Discontinued operations (in dollars per share) | [1] | 0 | 0 | 0.02 | 0 | ||
| Net income (in dollars per share) | [1] | $ 6.02 | $ 6.48 | $ 12.09 | $ 12.25 | ||
| Weighted average common shares outstanding (in shares) | 45.3 | 58.1 | 46.4 | 60.3 | |||
| COMMON SHARES OUTSTANDING, net of treasury stock, at period end (in shares) | 44.0 | 56.0 | 44.0 | 56.0 | |||
| New vehicle | |||||||
| TOTAL REVENUE | $ 3,281.0 | $ 2,935.8 | $ 6,212.9 | $ 5,743.0 | |||
| TOTAL COST OF SALES | 2,993.3 | 2,582.3 | 5,638.3 | 5,044.5 | |||
| TOTAL GROSS PROFIT | 287.7 | 353.5 | 574.6 | 698.5 | |||
| Used vehicle | |||||||
| TOTAL REVENUE | 2,088.0 | 2,520.4 | 4,120.6 | 5,092.8 | |||
| TOTAL COST OF SALES | 1,953.7 | 2,363.9 | 3,831.9 | 4,799.7 | |||
| TOTAL GROSS PROFIT | 134.3 | 156.5 | 288.7 | 293.1 | |||
| Parts and service | |||||||
| TOTAL REVENUE | 1,145.3 | 1,036.3 | 2,235.1 | 2,040.2 | |||
| TOTAL COST OF SALES | 602.8 | 554.6 | 1,181.5 | 1,097.4 | |||
| TOTAL GROSS PROFIT | 542.5 | 481.7 | 1,053.6 | 942.8 | |||
| Finance and insurance, net | |||||||
| TOTAL REVENUE | 369.5 | 367.6 | 701.9 | 731.5 | |||
| TOTAL GROSS PROFIT | 369.5 | 367.6 | 701.9 | 731.5 | |||
| Other | |||||||
| TOTAL REVENUE | 6.3 | 9.1 | 18.3 | 14.5 | |||
| TOTAL COST OF SALES | 5.0 | 6.7 | 15.4 | 9.8 | |||
| TOTAL GROSS PROFIT | $ 1.3 | $ 2.4 | $ 2.9 | $ 4.7 | |||
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- Definition The aggregate expense recognized in the current period that reflects the allocation of the cost of tangible assets and intangible assets over the assets' useful lives. This concept does not include the amortization of debt financing costs and discounts. No definition available.
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- Definition Interest expense incurred on vehicle floorplan payable trade and non-trade outstanding during the period. No definition available.
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- Definition Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate cost of goods produced and sold and services rendered during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount after tax of income (loss) from continuing operations attributable to the parent. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) derived from continuing operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount after tax of income (loss) from a discontinued operation including the portion attributable to the noncontrolling interest. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Per basic share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation and gain (loss) from the disposal of the discontinued operation. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Per diluted share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation and gain (loss) from the disposal of the discontinued operation. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of the cost of borrowed funds accounted for as interest expense for debt. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The net amount of other operating income and expenses, the components of which are not separately disclosed on the income statement, from items that are associated with the entity's normal revenue producing operations. No definition available.
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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