Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2016 |
Sep. 30, 2015 |
Sep. 30, 2016 |
Sep. 30, 2015 |
|
| Revenues: | ||||
| New and used commercial vehicle sales | $ 698,838 | $ 872,106 | $ 2,004,236 | $ 2,590,178 |
| Parts and service sales | 336,459 | 360,711 | 1,007,063 | 1,051,001 |
| Lease and rental | 52,452 | 50,545 | 155,491 | 147,634 |
| Finance and insurance | 4,870 | 6,164 | 14,206 | 16,373 |
| Other | 3,422 | 4,550 | 12,347 | 12,728 |
| Total revenue | 1,096,041 | 1,294,076 | 3,193,343 | 3,817,914 |
| Cost of products sold: | ||||
| New and used commercial vehicle sales | 653,992 | 813,178 | 1,868,983 | 2,413,712 |
| Parts and service sales | 214,916 | 227,775 | 642,678 | 664,697 |
| Lease and rental | 45,817 | 45,115 | 136,618 | 130,242 |
| Total cost of products sold | 914,725 | 1,086,068 | 2,648,279 | 3,208,651 |
| Gross profit | 181,316 | 208,008 | 545,064 | 609,263 |
| Selling, general and administrative expense | 142,280 | 160,776 | 450,812 | 474,712 |
| Depreciation and amortization expense | 13,014 | 11,228 | 38,482 | 32,051 |
| Gain (loss) on sale of assets | 1,566 | 26 | 1,571 | (581) |
| Operating income | 27,588 | 36,030 | 57,341 | 101,919 |
| Interest expense, net | 3,285 | 3,568 | 11,287 | 10,107 |
| Income before taxes | 24,303 | 32,462 | 46,054 | 91,812 |
| Provision for income taxes | 9,423 | 12,579 | 17,962 | 35,572 |
| Net income | $ 14,880 | $ 19,883 | $ 28,092 | $ 56,240 |
| Earnings per common share: | ||||
| Basic (in dollars per share) | $ 0.38 | $ 0.49 | $ 0.70 | $ 1.40 |
| Diluted (in dollars per share) | $ 0.37 | $ 0.48 | $ 0.69 | $ 1.37 |
| Weighted average shares outstanding: | ||||
| Basic (in shares) | 39,617 | 40,361 | 40,138 | 40,235 |
| Diluted (in shares) | 40,274 | 41,136 | 40,698 | 41,065 |
| Comprehensive income | $ 14,889 | $ 19,883 | $ 28,111 | $ 56,395 |