FORT LAUDERDALE, Fla.,
Jan. 28, 2016 /PRNewswire/
-- AutoNation, Inc. (NYSE: AN), America's largest
automotive retailer, today reported fourth quarter 2015 adjusted
net income from continuing operations of $107 million, or $0.96 per share, compared to net income from
continuing operations of $117
million, or $1.02 per share,
for the same period in the prior year. Adjusted net income from
continuing operations for the fourth quarter of 2015 excludes
non-cash impairment charges related to franchise rights associated
with certain of our Volkswagen stores of $9.6 million after-tax, or $0.09 per share. There were no adjusting items
for the fourth quarter of 2014. On a GAAP basis, fourth quarter
2015 net income from continuing operations was $98 million, or $0.87 per share. Reconciliations of non-GAAP
financial measures are included in the attached financial
tables.
Fourth quarter 2015 revenue totaled $5.3
billion compared to $5.0
billion in the year-ago period, an increase of 6%, driven by
stronger performance in all business sectors - new vehicles, used
vehicles, parts and service, and finance and insurance. In the
fourth quarter of 2015, AutoNation's retail new vehicle unit sales
increased 4% overall and 1% on a same store basis.
Fourth quarter 2015 gross profit of $812
million increased 4% as compared to $784 million in the year-ago period, driven by an
increase of 11% in parts and service gross profit and an increase
of 10% in finance and insurance gross profit as compared to the
prior year.
Mike Jackson, Chairman, Chief
Executive Officer and President said, "In the fourth quarter, new
and used vehicle margins on a combined basis declined by
$217 per vehicle retailed, or 11%, as
compared to the fourth quarter of 2014. As of year-end, our new
vehicle inventories increased 13% on a same store basis, as
compared to the prior year, driven by a 49% increase in Premium
Luxury inventories. We have begun, and will continue through the
first quarter, to take the necessary steps to align our costs,
inventory, and pricing strategy to adjust to the current
market."
Mr. Jackson added, "In 2016, we expect industry new vehicle unit
sales will again exceed 17 million."
Acquisitions
In November
2015, AutoNation completed the previously announced
acquisition of 13 stores from Carl Gregory Enterprises, and in
December 2015, AutoNation completed
the acquisition of a Honda store in the Seattle-Bellevue,
Washington market. For the full year 2015, AutoNation closed
on the acquisition of 22 stores, including 51 franchises,
representing approximately $1 billion
in annual revenue.
Share Repurchase
During 2015, AutoNation repurchased
3.9 million shares of common stock for an aggregate purchase price
of $235 million. As of January 27, 2016, AutoNation has approximately
$296 million remaining Board
authorization for share repurchase and 111 million shares
outstanding.
Segment Results
Segment results(1) for the
fourth quarter of 2015 were as follows:
Fourth Quarter 2015 Segment Results
- Domestic - Domestic segment income(2)
was $78 million compared to year-ago
segment income of $74 million, an
increase of 6%.
- Import - Import segment income(2) was
$71 million compared to year-ago
segment income of
$71
million.
- Premium Luxury - Premium Luxury segment
income(2) was $102 million
compared to year-ago segment income of $113
million, a decrease of 9%.
Full Year 2015 Segment Results
- Domestic - Domestic segment income(2)
was $337 million compared to year-ago
segment income of $285 million, an
increase of 18%.
- Import - Import segment income(2) was
$311 million compared to year-ago
segment income of $291 million, an
increase of 7%.
- Premium Luxury - Premium Luxury segment
income(2) was $376 million
compared to year-ago segment income of $366
million, an increase of 3%.
For the full year ended December 31,
2015, AutoNation reported adjusted net income from
continuing operations of $453
million, or $3.98 per share,
compared to adjusted net income from continuing operations of
$415 million, or $3.49 per share, for the same period in the prior
year, an improvement of 14% on a per-share basis. Adjusted net
income from continuing operations for the full year 2015 excludes
non-cash impairment charges related to franchise rights associated
with certain of our Volkswagen stores of $9.6 million after-tax, or $0.08 per share, and for the full year 2014
excludes a net gain related to business/property dispositions of
$5.0 million after-tax, or
$0.04 per share. On a GAAP basis, net
income from continuing operations was $444
million, or $3.90 per share,
for 2015 compared to $420 million, or
$3.53 per share, for 2014.
Reconciliations of non-GAAP financial measures are included in the
attached financial tables. AutoNation's revenue for full year 2015
totaled $20.9 billion, up 9% compared
to $19.1 billion for the same period
in the prior year.
The fourth quarter conference call may be accessed by telephone
at (888) 769-8515 (password: AutoNation) at 11:00 a.m. Eastern Time or on AutoNation's
investor relations website at http://investors.autonation.com.
The webcast will also be available on AutoNation's website under
"Events & Presentations" following the call. A playback of the
conference call will be available after 1:00
p.m. Eastern Time on January 28,
2016, through February 11,
2016 by calling (866) 403-7090 (password 5423).
Effective immediately, AutoNation will no longer disclose the
monthly new vehicle unit sales it reports to automotive
manufacturers. AutoNation will continue to disclose its sales
performance in conjunction with its regular quarterly and annual
earnings announcements.
|
(1)
|
AutoNation has three
operating segments: Domestic, Import, and Premium Luxury. The
Domestic segment is comprised of stores that sell vehicles
manufactured by General Motors, Ford, and FCA US (formerly
Chrysler); the Import segment is comprised of stores that sell
vehicles manufactured primarily by Toyota, Honda, Nissan, and
Hyundai; and the Premium Luxury segment is comprised of stores that
sell vehicles manufactured primarily by Mercedes-Benz, BMW, Lexus,
and Audi.
|
|
|
|
|
(2)
|
Segment income
represents income for each of our reportable segments and is
defined as operating income less floorplan interest
expense.
|
About AutoNation, Inc.
AutoNation is America's largest
automotive retailer, currently owning and operating 342 new vehicle
franchises from coast to coast. AutoNation sold its 10 millionth
vehicle in 2015, the first automotive retailer to reach this
milestone. AutoNation is also the only automotive retailer to
guarantee every vehicle retailed is recall-free. A commitment to
delivering a peerless experience through customer-focused sales and
service processes is what drives AutoNation's success. In 2015,
AutoNation committed $1,000,000 to
support the Breast Cancer Research Foundation through its Drive
Pink Campaign. AutoNation is transforming the automotive industry
through bold leadership, technology and innovation.
Please visit investors.autonation.com, www.autonation.com,
www.autonationdrive.com, www.twitter.com/autonation,
www.twitter.com/CEOMikeJackson, www.facebook.com/autonation, and
www.facebook.com/CEOMikeJackson, where AutoNation discloses
additional information about the Company, its business, and its
results of operations.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
All statements other than statements of historical fact are, or may
be deemed to be, forward-looking statements. Words such as
"anticipates," "expects," "intends," "goals," "plans," "believes,"
"continues," "may," "will," and variations of such words and
similar expressions are intended to identify such forward-looking
statements. Statements regarding our strategic initiatives and
expectations for the future performance of our franchises and the
automotive retail industry, as well as statements that describe our
objectives, goals, or plans, are forward-looking statements. Our
forward-looking statements reflect our current expectations
concerning future results and events, and they involve known and
unknown risks, uncertainties and other factors that are difficult
to predict and may cause our actual results, performance or
achievements to be materially different from any future results,
performance and achievements expressed or implied by these
statements. These risks, uncertainties and other factors include,
among others: economic conditions, including conditions in the
credit markets and changes in interest rates; new and used vehicle
margins; the success and financial viability and the incentive and
marketing programs of vehicle manufacturers and distributors with
which we hold franchises; our ability to maintain and enhance our
retail brands and reputation and to attract consumers to our own
digital channels; our ability to integrate successfully acquired
and awarded franchises and to attain planned sales volumes within
our expected time frames; restrictions imposed by vehicle
manufacturers and our ability to obtain manufacturer approval for
pending acquisitions; natural disasters and other adverse weather
events; the resolution of legal and administrative proceedings;
regulatory factors affecting our business, including fuel economy
requirements; our ability to identify open safety recalls; factors
affecting our goodwill and other intangible asset impairment
testing; and other factors described in our news releases and
filings made under the securities laws, including, among others,
our Annual Reports on Form 10-K, our Quarterly Reports on Form 10-Q
and our Current Reports on Form 8-K. Forward-looking statements
contained in this news release speak only as of the date of this
news release, and we undertake no obligation to update these
forward-looking statements to reflect subsequent events or
circumstances.
NON-GAAP FINANCIAL MEASURES
This press release and the attached financial tables contain
certain non-GAAP financial measures as defined under SEC rules,
such as adjusted net income and adjusted earnings per share from
continuing operations, which exclude certain items disclosed in the
attached financial tables. As required by SEC rules, the Company
provides reconciliations of these measures to the most directly
comparable GAAP measures. The Company believes that these non-GAAP
financial measures improve the transparency of the Company's
disclosure, provide a meaningful presentation of the Company's
results from its core business operations excluding the impact of
items not related to the Company's ongoing core business
operations, and improve the period-to-period comparability of the
Company's results from its core business operations.
AUTONATION,
INC.
|
UNAUDITED CONDENSED
CONSOLIDATED INCOME STATEMENTS
|
(In millions, except
per share data)
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
December 31,
|
|
Twelve Months Ended
December 31,
|
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
|
|
|
|
|
|
|
|
Revenue:
|
|
|
|
|
|
|
|
|
New
vehicle
|
$ 3,144.0
|
|
$ 2,983.1
|
|
$ 11,995.0
|
|
$ 10,972.2
|
|
Used
vehicle
|
1,153.8
|
|
1,105.2
|
|
4,768.7
|
|
4,385.7
|
|
Parts and
service
|
778.3
|
|
729.3
|
|
3,082.8
|
|
2,822.5
|
|
Finance and
insurance, net
|
216.3
|
|
196.5
|
|
868.7
|
|
750.8
|
|
Other
|
47.4
|
|
33.7
|
|
146.8
|
|
177.6
|
Total
revenue
|
5,339.8
|
|
5,047.8
|
|
20,862.0
|
|
19,108.8
|
|
|
|
|
|
|
|
|
|
Cost of
sales:
|
|
|
|
|
|
|
|
|
New
vehicle
|
2,969.3
|
|
2,797.6
|
|
11,321.9
|
|
10,322.1
|
|
Used
vehicle
|
1,078.1
|
|
1,016.6
|
|
4,415.0
|
|
4,025.1
|
|
Parts and
service
|
439.7
|
|
423.9
|
|
1,744.8
|
|
1,625.9
|
|
Other
|
40.5
|
|
26.2
|
|
118.8
|
|
147.0
|
Total cost of
sales
|
4,527.6
|
|
4,264.3
|
|
17,600.5
|
|
16,120.1
|
|
|
|
|
|
|
|
|
|
Gross
profit
|
812.2
|
|
783.5
|
|
3,261.5
|
|
2,988.7
|
|
|
|
|
|
|
|
|
|
Selling, general, and
administrative expenses
|
568.5
|
|
532.0
|
|
2,263.5
|
|
2,079.6
|
Depreciation and
amortization
|
33.7
|
|
27.9
|
|
127.4
|
|
106.9
|
Franchise rights
impairment
|
15.4
|
|
-
|
|
15.4
|
|
-
|
Other income,
net
|
(5.8)
|
|
(2.9)
|
|
(17.9)
|
|
(18.6)
|
|
|
|
|
|
|
|
|
|
Operating
income
|
200.4
|
|
226.5
|
|
873.1
|
|
820.8
|
|
|
|
|
|
|
|
|
|
Non-operating income
(expense) items:
|
|
|
|
|
|
|
|
|
Floorplan interest
expense
|
(16.2)
|
|
(13.7)
|
|
(58.3)
|
|
(53.3)
|
|
Other interest
expense
|
(26.5)
|
|
(22.1)
|
|
(90.9)
|
|
(86.7)
|
|
Loss on debt
extinguishment
|
-
|
|
(1.6)
|
|
-
|
|
(1.6)
|
|
Interest
income
|
-
|
|
-
|
|
0.1
|
|
0.2
|
|
Other income (loss),
net
|
1.4
|
|
(0.6)
|
|
(1.3)
|
|
2.9
|
|
|
|
|
|
|
|
|
|
Income from
continuing operations before income taxes
|
159.1
|
|
188.5
|
|
722.7
|
|
682.3
|
|
|
|
|
|
|
|
|
|
Income tax
provision
|
61.3
|
|
71.6
|
|
279.0
|
|
262.5
|
|
|
|
|
|
|
|
|
|
Net income from
continuing operations
|
97.8
|
|
116.9
|
|
443.7
|
|
419.8
|
|
|
|
|
|
|
|
|
|
Loss from
discontinued operations, net of income taxes
|
(0.3)
|
|
(0.2)
|
|
(1.1)
|
|
(1.1)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
$ 97.5
|
|
$ 116.7
|
|
$ 442.6
|
|
$ 418.7
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings
(loss) per share*:
|
|
|
|
|
|
|
|
|
Continuing
operations
|
$ 0.87
|
|
$ 1.02
|
|
$
3.90
|
|
$
3.53
|
|
Discontinued
operations
|
$
-
|
|
$
-
|
|
$
(0.01)
|
|
$
(0.01)
|
|
|
|
|
|
|
|
|
|
|
Net income
|
$ 0.87
|
|
$ 1.02
|
|
$
3.89
|
|
$
3.52
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
common shares outstanding
|
112.0
|
|
114.9
|
|
113.9
|
|
118.9
|
|
|
|
|
|
|
|
|
|
Common shares
outstanding, net of treasury stock, at period end
|
110.8
|
|
113.3
|
|
110.8
|
|
113.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Earnings per share
amounts are calculated discretely and therefore may not add up to
the total due to rounding.
|
AUTONATION,
INC.
|
UNAUDITED
SUPPLEMENTARY DATA
|
($ in millions,
except per vehicle data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
Highlights
|
Three Months Ended
December 31,
|
|
Twelve Months
Ended December 31,
|
|
|
|
2015
|
|
2014
|
|
$ Variance
|
|
% Variance
|
|
2015
|
|
2014
|
|
$ Variance
|
|
% Variance
|
Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
$
3,144.0
|
|
$
2,983.1
|
|
$
160.9
|
|
5.4
|
|
$ 11,995.0
|
|
$ 10,972.2
|
|
$
1,022.8
|
|
9.3
|
|
|
Retail used
vehicle
|
1,064.0
|
|
1,007.8
|
|
56.2
|
|
5.6
|
|
4,370.3
|
|
3,988.9
|
|
381.4
|
|
9.6
|
|
|
Wholesale
|
89.8
|
|
97.4
|
|
(7.6)
|
|
(7.8)
|
|
398.4
|
|
396.8
|
|
1.6
|
|
0.4
|
|
|
Used
vehicle
|
1,153.8
|
|
1,105.2
|
|
48.6
|
|
4.4
|
|
4,768.7
|
|
4,385.7
|
|
383.0
|
|
8.7
|
|
|
Finance and
insurance, net
|
216.3
|
|
196.5
|
|
19.8
|
|
10.1
|
|
868.7
|
|
750.8
|
|
117.9
|
|
15.7
|
|
Total variable
operations
|
4,514.1
|
|
4,284.8
|
|
229.3
|
|
5.4
|
|
17,632.4
|
|
16,108.7
|
|
1,523.7
|
|
9.5
|
|
Parts and
service
|
778.3
|
|
729.3
|
|
49.0
|
|
6.7
|
|
3,082.8
|
|
2,822.5
|
|
260.3
|
|
9.2
|
|
Other
|
47.4
|
|
33.7
|
|
13.7
|
|
|
|
146.8
|
|
177.6
|
|
(30.8)
|
|
|
Total
revenue
|
$
5,339.8
|
|
$
5,047.8
|
|
$
292.0
|
|
5.8
|
|
$ 20,862.0
|
|
$ 19,108.8
|
|
$
1,753.2
|
|
9.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross
profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
$
174.7
|
|
$
185.5
|
|
$
(10.8)
|
|
(5.8)
|
|
$
673.1
|
|
$
650.1
|
|
$
23.0
|
|
3.5
|
|
|
Retail used
vehicle
|
77.7
|
|
89.9
|
|
(12.2)
|
|
(13.6)
|
|
358.4
|
|
363.2
|
|
(4.8)
|
|
(1.3)
|
|
|
Wholesale
|
(2.0)
|
|
(1.3)
|
|
(0.7)
|
|
|
|
(4.7)
|
|
(2.6)
|
|
(2.1)
|
|
|
|
|
Used
vehicle
|
75.7
|
|
88.6
|
|
(12.9)
|
|
(14.6)
|
|
353.7
|
|
360.6
|
|
(6.9)
|
|
(1.9)
|
|
|
Finance and
insurance
|
216.3
|
|
196.5
|
|
19.8
|
|
10.1
|
|
868.7
|
|
750.8
|
|
117.9
|
|
15.7
|
|
Total variable
operations
|
466.7
|
|
470.6
|
|
(3.9)
|
|
(0.8)
|
|
1,895.5
|
|
1,761.5
|
|
134.0
|
|
7.6
|
|
Parts and
service
|
338.6
|
|
305.4
|
|
33.2
|
|
10.9
|
|
1,338.0
|
|
1,196.6
|
|
141.4
|
|
11.8
|
|
Other
|
6.9
|
|
7.5
|
|
(0.6)
|
|
|
|
28.0
|
|
30.6
|
|
(2.6)
|
|
|
Total gross
profit
|
812.2
|
|
783.5
|
|
28.7
|
|
3.7
|
|
3,261.5
|
|
2,988.7
|
|
272.8
|
|
9.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling, general, and
administrative expenses
|
568.5
|
|
532.0
|
|
(36.5)
|
|
(6.9)
|
|
2,263.5
|
|
2,079.6
|
|
(183.9)
|
|
(8.8)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and
amortization
|
33.7
|
|
27.9
|
|
(5.8)
|
|
|
|
127.4
|
|
106.9
|
|
(20.5)
|
|
|
Franchise rights
impairment
|
15.4
|
|
-
|
|
(15.4)
|
|
|
|
15.4
|
|
-
|
|
(15.4)
|
|
|
Other income,
net
|
(5.8)
|
|
(2.9)
|
|
2.9
|
|
|
|
(17.9)
|
|
(18.6)
|
|
(0.7)
|
|
|
Operating
income
|
200.4
|
|
226.5
|
|
(26.1)
|
|
(11.5)
|
|
873.1
|
|
820.8
|
|
52.3
|
|
6.4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-operating income
(expense) items:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Floorplan interest
expense
|
(16.2)
|
|
(13.7)
|
|
(2.5)
|
|
|
|
(58.3)
|
|
(53.3)
|
|
(5.0)
|
|
|
|
|
Other interest
expense
|
(26.5)
|
|
(22.1)
|
|
(4.4)
|
|
|
|
(90.9)
|
|
(86.7)
|
|
(4.2)
|
|
|
|
|
Loss on debt
extinguishment
|
-
|
|
(1.6)
|
|
1.6
|
|
|
|
-
|
|
(1.6)
|
|
1.6
|
|
|
|
|
Interest
income
|
-
|
|
-
|
|
-
|
|
|
|
0.1
|
|
0.2
|
|
(0.1)
|
|
|
|
|
Other income (loss),
net
|
1.4
|
|
(0.6)
|
|
2.0
|
|
|
|
(1.3)
|
|
2.9
|
|
(4.2)
|
|
|
Income from
continuing operations before income taxes
|
$
159.1
|
|
$
188.5
|
|
$
(29.4)
|
|
(15.6)
|
|
$
722.7
|
|
$
682.3
|
|
$
40.4
|
|
5.9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail vehicle unit
sales:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
|
85,740
|
|
82,549
|
|
3,191
|
|
3.9
|
|
339,080
|
|
318,008
|
|
21,072
|
|
6.6
|
|
|
Used
|
53,920
|
|
53,534
|
|
386
|
|
0.7
|
|
227,290
|
|
214,910
|
|
12,380
|
|
5.8
|
|
|
|
139,660
|
|
136,083
|
|
3,577
|
|
2.6
|
|
566,370
|
|
532,918
|
|
33,452
|
|
6.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue per vehicle
retailed:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
|
$
36,669
|
|
$
36,137
|
|
$
532
|
|
1.5
|
|
$
35,375
|
|
$
34,503
|
|
$
872
|
|
2.5
|
|
|
Used
|
$
19,733
|
|
$
18,825
|
|
$
908
|
|
4.8
|
|
$
19,228
|
|
$
18,561
|
|
$
667
|
|
3.6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit per
vehicle retailed:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
|
$
2,038
|
|
$
2,247
|
|
$
(209)
|
|
(9.3)
|
|
$
1,985
|
|
$
2,044
|
|
$
(59)
|
|
(2.9)
|
|
|
Used
|
$
1,441
|
|
$
1,679
|
|
$
(238)
|
|
(14.2)
|
|
$
1,577
|
|
$
1,690
|
|
$
(113)
|
|
(6.7)
|
|
|
Finance and
insurance
|
$
1,549
|
|
$
1,444
|
|
$
105
|
|
7.3
|
|
$
1,534
|
|
$
1,409
|
|
$
125
|
|
8.9
|
|
|
Total variable
operations(1)
|
$
3,356
|
|
$
3,468
|
|
$
(112)
|
|
(3.2)
|
|
$
3,355
|
|
$
3,310
|
|
$
45
|
|
1.4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
Percentages
|
Three Months
Ended December 31,
|
|
Twelve Months
Ended December 31,
|
|
|
|
|
|
|
|
|
|
|
|
2015 (%)
|
|
2014 (%)
|
|
2015 (%)
|
|
2014 (%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue mix
percentages:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
58.9
|
|
59.1
|
|
57.5
|
|
57.4
|
|
|
|
|
|
|
|
|
|
|
Used
vehicle
|
21.6
|
|
21.9
|
|
22.9
|
|
23.0
|
|
|
|
|
|
|
|
|
|
|
Parts and
service
|
14.6
|
|
14.4
|
|
14.8
|
|
14.8
|
|
|
|
|
|
|
|
|
|
|
Finance and
insurance, net
|
4.1
|
|
3.9
|
|
4.2
|
|
3.9
|
|
|
|
|
|
|
|
|
|
|
Other
|
0.8
|
|
0.7
|
|
0.6
|
|
0.9
|
|
|
|
|
|
|
|
|
|
|
|
100.0
|
|
100.0
|
|
100.0
|
|
100.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit mix
percentages:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
21.5
|
|
23.7
|
|
20.6
|
|
21.8
|
|
|
|
|
|
|
|
|
|
|
Used
vehicle
|
9.3
|
|
11.3
|
|
10.8
|
|
12.1
|
|
|
|
|
|
|
|
|
|
|
Parts and
service
|
41.7
|
|
39.0
|
|
41.0
|
|
40.0
|
|
|
|
|
|
|
|
|
|
|
Finance and
insurance
|
26.6
|
|
25.1
|
|
26.6
|
|
25.1
|
|
|
|
|
|
|
|
|
|
|
Other
|
0.9
|
|
0.9
|
|
1.0
|
|
1.0
|
|
|
|
|
|
|
|
|
|
|
|
100.0
|
|
100.0
|
|
100.0
|
|
100.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating items as a
percentage of revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross
profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
5.6
|
|
6.2
|
|
5.6
|
|
5.9
|
|
|
|
|
|
|
|
|
|
|
Used
vehicle - retail
|
7.3
|
|
8.9
|
|
8.2
|
|
9.1
|
|
|
|
|
|
|
|
|
|
|
Parts
and service
|
43.5
|
|
41.9
|
|
43.4
|
|
42.4
|
|
|
|
|
|
|
|
|
|
|
Total
|
15.2
|
|
15.5
|
|
15.6
|
|
15.6
|
|
|
|
|
|
|
|
|
|
|
Selling, general, and
administrative expenses
|
10.6
|
|
10.5
|
|
10.8
|
|
10.9
|
|
|
|
|
|
|
|
|
|
|
Operating
income
|
3.8
|
|
4.5
|
|
4.2
|
|
4.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating items as a
percentage of total gross profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling, general, and
administrative expenses
|
70.0
|
|
67.9
|
|
69.4
|
|
69.6
|
|
|
|
|
|
|
|
|
|
|
Operating
income
|
24.7
|
|
28.9
|
|
26.8
|
|
27.5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
|
Total variable
operations gross profit per vehicle retailed is calculated by
dividing the sum of new vehicle, retail used vehicle, and finance
and insurance gross profit by total retail vehicle unit
sales.
|
|
|
|
|
|
|
|
|
AUTONATION,
INC.
|
UNAUDITED
SUPPLEMENTARY DATA
|
($ in
millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment Operating
Highlights
|
Three Months Ended
December 31,
|
|
Twelve Months
Ended December 31,
|
|
|
2015
|
|
2014
|
|
$ Variance
|
|
% Variance
|
|
2015
|
|
2014
|
|
$ Variance
|
|
% Variance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic
|
$
1,770.8
|
|
$
1,620.9
|
|
$
149.9
|
|
9.2
|
|
$
7,069.8
|
|
$
6,359.5
|
|
$
710.3
|
|
11.2
|
|
Import
|
1,726.1
|
|
1,662.8
|
|
63.3
|
|
3.8
|
|
7,037.2
|
|
6,717.8
|
|
319.4
|
|
4.8
|
|
Premium
luxury
|
1,804.6
|
|
1,728.1
|
|
76.5
|
|
4.4
|
|
6,607.8
|
|
5,889.3
|
|
718.5
|
|
12.2
|
|
Total
|
5,301.5
|
|
5,011.8
|
|
289.7
|
|
5.8
|
|
20,714.8
|
|
18,966.6
|
|
1,748.2
|
|
9.2
|
|
Corporate and
other
|
38.3
|
|
36.0
|
|
2.3
|
|
6.4
|
|
147.2
|
|
142.2
|
|
5.0
|
|
3.5
|
|
Total consolidated revenue
|
$
5,339.8
|
|
$
5,047.8
|
|
$
292.0
|
|
5.8
|
|
$
20,862.0
|
|
$
19,108.8
|
|
$
1,753.2
|
|
9.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment
income*:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic
|
$
78.1
|
|
$
74.0
|
|
$
4.1
|
|
5.5
|
|
$
336.9
|
|
$
285.0
|
|
$
51.9
|
|
18.2
|
|
Import
|
70.8
|
|
71.3
|
|
(0.5)
|
|
(0.7)
|
|
311.4
|
|
291.3
|
|
20.1
|
|
6.9
|
|
Premium
luxury
|
102.3
|
|
113.0
|
|
(10.7)
|
|
(9.5)
|
|
376.2
|
|
366.1
|
|
10.1
|
|
2.8
|
|
Total
|
251.2
|
|
258.3
|
|
(7.1)
|
|
(2.7)
|
|
1,024.5
|
|
942.4
|
|
82.1
|
|
8.7
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate and
other
|
(67.0)
|
|
(45.5)
|
|
(21.5)
|
|
|
|
(209.7)
|
|
(174.9)
|
|
(34.8)
|
|
|
Add: Floorplan
interest expense
|
16.2
|
|
13.7
|
|
2.5
|
|
|
|
58.3
|
|
53.3
|
|
5.0
|
|
|
Operating
income
|
$
200.4
|
|
$
226.5
|
|
$
(26.1)
|
|
(11.5)
|
|
$
873.1
|
|
$
820.8
|
|
$
52.3
|
|
6.4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Segment income
represents income for each of our reportable segments and is
defined as operating income less floorplan interest
expense.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail new vehicle
unit sales:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic
|
27,410
|
|
25,605
|
|
1,805
|
|
7.0
|
|
111,519
|
|
102,643
|
|
8,876
|
|
8.6
|
|
Import
|
38,631
|
|
37,691
|
|
940
|
|
2.5
|
|
157,868
|
|
154,066
|
|
3,802
|
|
2.5
|
|
Premium
luxury
|
19,699
|
|
19,253
|
|
446
|
|
2.3
|
|
69,693
|
|
61,299
|
|
8,394
|
|
13.7
|
|
|
85,740
|
|
82,549
|
|
3,191
|
|
3.9
|
|
339,080
|
|
318,008
|
|
21,072
|
|
6.6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brand Mix - New
Vehicle Retail Units Sold
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended December 31,
|
|
Twelve Months
Ended December 31,
|
|
|
|
|
|
|
|
|
|
|
2015 (%)
|
|
2014 (%)
|
|
2015 (%)
|
|
2014 (%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ford,
Lincoln
|
15.0
|
|
15.2
|
|
16.0
|
|
16.4
|
|
|
|
|
|
|
|
|
|
Chevrolet, Buick, Cadillac, GMC
|
10.0
|
|
9.7
|
|
10.2
|
|
9.8
|
|
|
|
|
|
|
|
|
|
Chrysler, Jeep, Dodge, Ram
|
7.0
|
|
6.1
|
|
6.7
|
|
6.1
|
|
|
|
|
|
|
|
|
|
Domestic total
|
32.0
|
|
31.0
|
|
32.9
|
|
32.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Import:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Honda
|
10.5
|
|
10.8
|
|
11.0
|
|
11.7
|
|
|
|
|
|
|
|
|
|
Toyota
|
18.3
|
|
18.4
|
|
18.8
|
|
19.3
|
|
|
|
|
|
|
|
|
|
Nissan
|
8.9
|
|
9.5
|
|
9.6
|
|
10.5
|
|
|
|
|
|
|
|
|
|
Other
imports
|
7.3
|
|
7.0
|
|
7.1
|
|
6.9
|
|
|
|
|
|
|
|
|
|
Import total
|
45.0
|
|
45.7
|
|
46.5
|
|
48.4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Premium
Luxury:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mercedes-Benz
|
9.7
|
|
9.8
|
|
8.6
|
|
7.9
|
|
|
|
|
|
|
|
|
|
BMW
|
5.6
|
|
6.0
|
|
4.8
|
|
5.1
|
|
|
|
|
|
|
|
|
|
Lexus
|
3.2
|
|
3.4
|
|
2.9
|
|
2.8
|
|
|
|
|
|
|
|
|
|
Audi
|
2.0
|
|
2.0
|
|
2.0
|
|
1.6
|
|
|
|
|
|
|
|
|
|
Other
premium luxury (Land Rover, Porsche)
|
2.5
|
|
2.1
|
|
2.3
|
|
1.9
|
|
|
|
|
|
|
|
|
|
Premium Luxury
total
|
23.0
|
|
23.3
|
|
20.6
|
|
19.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
100.0
|
|
100.0
|
|
100.0
|
|
100.0
|
|
|
|
|
|
|
|
|
AUTONATION,
INC
|
UNAUDITED
SUPPLEMENTARY DATA, Continued
|
($ in
millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital
Expenditures / Stock Repurchases
|
Three Months
Ended December 31,
|
|
Twelve Months
Ended December 31,
|
|
|
|
|
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital expenditures
(1)
|
$
78.7
|
|
$
58.0
|
|
$
266.9
|
|
$
197.8
|
|
|
|
|
Cash paid for
acquisitions (2)
|
$
197.7
|
|
$
191.8
|
|
$
321.5
|
|
$
205.2
|
|
|
|
|
Proceeds from
exercises of stock options
|
$
5.9
|
|
$
5.6
|
|
$
30.0
|
|
$
35.1
|
|
|
|
|
Stock
repurchases:
|
|
|
|
|
|
|
|
|
|
|
|
|
Aggregate purchase
price
|
$
26.0
|
|
$
69.4
|
|
$
235.1
|
|
$
485.1
|
|
|
|
|
|
Shares repurchased
(in millions)
|
0.4
|
|
1.4
|
|
3.9
|
|
9.4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Floorplan
Assistance and Expense
|
Three Months
Ended December 31,
|
|
Twelve Months
Ended December 31,
|
|
|
2015
|
|
2014
|
|
Variance
|
|
2015
|
|
2014
|
|
Variance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Floorplan assistance
earned (included in cost of sales)
|
$
30.7
|
|
$
28.1
|
|
$
2.6
|
|
$
117.8
|
|
$
106.2
|
|
$
11.6
|
New vehicle floorplan
interest expense
|
(15.6)
|
|
(12.9)
|
|
(2.7)
|
|
(55.3)
|
|
(50.6)
|
|
(4.7)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net new vehicle
inventory carrying benefit
|
$
15.1
|
|
$
15.2
|
|
$
(0.1)
|
|
$
62.5
|
|
$
55.6
|
|
$
6.9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance Sheet and
Other Highlights
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31,
2015
|
|
December 31,
2014
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
$
74.1
|
|
$
75.4
|
|
|
|
|
|
|
|
|
Inventory
|
$
3,612.0
|
|
$
2,899.0
|
|
|
|
|
|
|
|
|
Total floorplan notes
payable
|
$
3,727.1
|
|
$
3,097.2
|
|
|
|
|
|
|
|
|
Non-vehicle
debt
|
$
2,366.6
|
|
$
2,128.4
|
|
|
|
|
|
|
|
|
Equity
|
$
2,349.3
|
|
$
2,072.1
|
|
|
|
|
|
|
|
|
New days supply
(industry standard of selling days)
|
68
days
|
|
54
days
|
|
|
|
|
|
|
|
|
Used days supply
(trailing calendar month days)
|
43
days
|
|
38
days
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Key Credit
Agreement Covenant Compliance
Calculations(3)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Leverage
ratio
|
|
|
2.32x
|
|
|
|
|
|
|
|
|
Covenant
|
less than or equal
to
|
3.75x
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capitalization
ratio
|
|
|
61.0%
|
|
|
|
|
|
|
|
|
Covenant
|
less than or equal
to
|
70.0%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
|
Includes accrued
construction in progress and excludes property associated with
capital leases entered into during the period
|
|
|
|
|
|
|
(2)
|
Excludes capital
leases
|
|
|
|
|
|
|
(3)
|
Calculated in
accordance with our credit agreement as filed with the
SEC
|
|
|
|
|
|
|
AUTONATION,
INC.
|
UNAUDITED
SUPPLEMENTARY DATA, Continued
|
($ in millions,
except per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comparable Basis
Reconciliations*
|
|
|
|
|
|
|
|
|
|
Three Months Ended
December 31,
|
|
|
Net
Income
|
|
Diluted
Earnings Per Share**
|
|
|
|
|
|
|
|
|
|
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
|
|
|
|
|
|
|
|
As
reported
|
$
97.5
|
|
$
116.7
|
|
$
0.87
|
|
$
1.02
|
|
|
|
|
|
|
|
|
|
|
Discontinued
operations, net of income taxes
|
0.3
|
|
0.2
|
|
$
-
|
|
$
-
|
From continuing
operations, as reported
|
97.8
|
|
116.9
|
|
$
0.87
|
|
$
1.02
|
|
|
|
|
|
|
|
|
|
|
Franchise rights
impairment
|
9.6
|
|
-
|
|
$
0.09
|
|
$
-
|
|
|
|
|
|
|
|
|
|
Adjusted
|
$
107.4
|
|
$
116.9
|
|
$
0.96
|
|
$
1.02
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Twelve Months Ended
December 31,
|
|
|
Net
Income
|
|
Diluted
Earnings Per Share**
|
|
|
|
|
|
|
|
|
|
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
|
|
|
|
|
|
|
|
As
reported
|
$
442.6
|
|
$
418.7
|
|
$
3.89
|
|
$
3.52
|
|
|
|
|
|
|
|
|
|
|
Discontinued
operations, net of income taxes
|
1.1
|
|
1.1
|
|
$
0.01
|
|
$
0.01
|
From continuing
operations, as reported
|
443.7
|
|
419.8
|
|
$
3.90
|
|
$
3.53
|
|
|
|
|
|
|
|
|
|
|
Franchise rights
impairment
|
9.6
|
|
-
|
|
$
0.08
|
|
$
-
|
|
Net gain related to
business/property dispositions
|
-
|
|
(5.0)
|
|
$
-
|
|
$
(0.04)
|
|
|
|
|
|
|
|
|
|
Adjusted
|
$
453.3
|
|
$
414.8
|
|
$
3.98
|
|
$
3.49
|
|
|
|
|
|
|
|
|
|
*
|
Please refer to the
"Non-GAAP Financial Measures" section of the Press
Release.
|
|
|
|
|
|
|
**
|
Diluted earnings per
share amounts are calculated discretely and therefore may not add
up to the total due to rounding.
|
|
|
AUTONATION,
INC.
|
UNAUDITED SAME
STORE DATA
|
($ in millions,
except per vehicle data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
Highlights
|
Three Months Ended
December 31,
|
|
Twelve Months
Ended December 31,
|
|
|
|
2015
|
|
2014
|
|
$ Variance
|
|
% Variance
|
|
2015
|
|
2014
|
|
$ Variance
|
|
% Variance
|
Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
$
3,028.2
|
|
$
2,966.8
|
|
$
61.4
|
|
2.1
|
|
$
11,576.5
|
|
$
10,885.3
|
|
$
691.2
|
|
6.3
|
|
|
Retail used
vehicle
|
1,022.9
|
|
1,001.2
|
|
21.7
|
|
2.2
|
|
4,209.2
|
|
3,957.8
|
|
251.4
|
|
6.4
|
|
|
Wholesale
|
88.1
|
|
96.9
|
|
(8.8)
|
|
(9.1)
|
|
390.7
|
|
395.0
|
|
(4.3)
|
|
(1.1)
|
|
|
Used
vehicle
|
1,111.0
|
|
1,098.1
|
|
12.9
|
|
1.2
|
|
4,599.9
|
|
4,352.8
|
|
247.1
|
|
5.7
|
|
|
Finance and
insurance, net
|
209.9
|
|
195.5
|
|
14.4
|
|
7.4
|
|
846.1
|
|
745.6
|
|
100.5
|
|
13.5
|
|
Total variable
operations
|
4,349.1
|
|
4,260.4
|
|
88.7
|
|
2.1
|
|
17,022.5
|
|
15,983.7
|
|
1,038.8
|
|
6.5
|
|
Parts and
service
|
751.1
|
|
722.7
|
|
28.4
|
|
3.9
|
|
2,973.3
|
|
2,793.1
|
|
180.2
|
|
6.5
|
|
Other
|
47.4
|
|
33.5
|
|
13.9
|
|
|
|
146.7
|
|
176.3
|
|
(29.6)
|
|
|
Total
revenue
|
$
5,147.6
|
|
$
5,016.6
|
|
$
131.0
|
|
2.6
|
|
$
20,142.5
|
|
$
18,953.1
|
|
$
1,189.4
|
|
6.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross
profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
$
167.2
|
|
$
184.7
|
|
$
(17.5)
|
|
(9.5)
|
|
$
642.7
|
|
$
646.0
|
|
$
(3.3)
|
|
(0.5)
|
|
|
Retail used
vehicle
|
74.7
|
|
89.4
|
|
(14.7)
|
|
(16.4)
|
|
346.3
|
|
359.6
|
|
(13.3)
|
|
(3.7)
|
|
|
Wholesale
|
(2.0)
|
|
(1.1)
|
|
(0.9)
|
|
|
|
(4.7)
|
|
(2.2)
|
|
(2.5)
|
|
|
|
|
Used
vehicle
|
72.7
|
|
88.3
|
|
(15.6)
|
|
(17.7)
|
|
341.6
|
|
357.4
|
|
(15.8)
|
|
(4.4)
|
|
|
Finance and
insurance
|
209.9
|
|
195.5
|
|
14.4
|
|
7.4
|
|
846.1
|
|
745.6
|
|
100.5
|
|
13.5
|
|
Total variable
operations
|
449.8
|
|
468.5
|
|
(18.7)
|
|
(4.0)
|
|
1,830.4
|
|
1,749.0
|
|
81.4
|
|
4.7
|
|
Parts and
service
|
326.1
|
|
302.2
|
|
23.9
|
|
7.9
|
|
1,285.7
|
|
1,182.5
|
|
103.2
|
|
8.7
|
|
Other
|
6.7
|
|
7.2
|
|
(0.5)
|
|
|
|
27.1
|
|
30.2
|
|
(3.1)
|
|
|
Total gross
profit
|
$
782.6
|
|
$
777.9
|
|
$
4.7
|
|
0.6
|
|
$
3,143.2
|
|
$
2,961.7
|
|
$
181.5
|
|
6.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail vehicle unit
sales:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
|
82,871
|
|
81,991
|
|
880
|
|
1.1
|
|
329,431
|
|
314,683
|
|
14,748
|
|
4.7
|
|
|
Used
|
52,013
|
|
53,137
|
|
(1,124)
|
|
(2.1)
|
|
220,538
|
|
212,731
|
|
7,807
|
|
3.7
|
|
|
|
134,884
|
|
135,128
|
|
(244)
|
|
(0.2)
|
|
549,969
|
|
527,414
|
|
22,555
|
|
4.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue per vehicle
retailed:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
|
$
36,541
|
|
$
36,184
|
|
$
357
|
|
1.0
|
|
$
35,141
|
|
$
34,591
|
|
$
550
|
|
1.6
|
|
|
Used
|
$
19,666
|
|
$
18,842
|
|
$
824
|
|
4.4
|
|
$
19,086
|
|
$
18,605
|
|
$
481
|
|
2.6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit per
vehicle retailed:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
|
$
2,018
|
|
$
2,253
|
|
$
(235)
|
|
(10.4)
|
|
$
1,951
|
|
$
2,053
|
|
$
(102)
|
|
(5.0)
|
|
|
Used
|
$
1,436
|
|
$
1,682
|
|
$
(246)
|
|
(14.6)
|
|
$
1,570
|
|
$
1,690
|
|
$
(120)
|
|
(7.1)
|
|
|
Finance and
insurance
|
$
1,556
|
|
$
1,447
|
|
$
109
|
|
7.5
|
|
$
1,538
|
|
$
1,414
|
|
$
124
|
|
8.8
|
|
|
Total variable
operations(1)
|
$
3,350
|
|
$
3,475
|
|
$
(125)
|
|
(3.6)
|
|
$
3,337
|
|
$
3,320
|
|
$
17
|
|
0.5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
Percentages
|
Three Months
Ended December 31,
|
|
Twelve Months
Ended December 31,
|
|
|
|
|
|
|
|
|
|
|
|
2015 (%)
|
|
2014 (%)
|
|
2015 (%)
|
|
2014 (%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue mix
percentages:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
58.8
|
|
59.1
|
|
57.5
|
|
57.4
|
|
|
|
|
|
|
|
|
|
|
Used
vehicle
|
21.6
|
|
21.9
|
|
22.8
|
|
23.0
|
|
|
|
|
|
|
|
|
|
|
Parts and
service
|
14.6
|
|
14.4
|
|
14.8
|
|
14.7
|
|
|
|
|
|
|
|
|
|
|
Finance and
insurance, net
|
4.1
|
|
3.9
|
|
4.2
|
|
3.9
|
|
|
|
|
|
|
|
|
|
|
Other
|
0.9
|
|
0.7
|
|
0.7
|
|
1.0
|
|
|
|
|
|
|
|
|
|
|
|
100.0
|
|
100.0
|
|
100.0
|
|
100.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit mix
percentages:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
21.4
|
|
23.7
|
|
20.4
|
|
21.8
|
|
|
|
|
|
|
|
|
|
|
Used
vehicle
|
9.3
|
|
11.4
|
|
10.9
|
|
12.1
|
|
|
|
|
|
|
|
|
|
|
Parts and
service
|
41.7
|
|
38.8
|
|
40.9
|
|
39.9
|
|
|
|
|
|
|
|
|
|
|
Finance and
insurance
|
26.8
|
|
25.1
|
|
26.9
|
|
25.2
|
|
|
|
|
|
|
|
|
|
|
Other
|
0.8
|
|
1.0
|
|
0.9
|
|
1.0
|
|
|
|
|
|
|
|
|
|
|
|
100.0
|
|
100.0
|
|
100.0
|
|
100.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating items as a
percentage of revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross
profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
vehicle
|
5.5
|
|
6.2
|
|
5.6
|
|
5.9
|
|
|
|
|
|
|
|
|
|
|
Used
vehicle - retail
|
7.3
|
|
8.9
|
|
8.2
|
|
9.1
|
|
|
|
|
|
|
|
|
|
|
Parts
and service
|
43.4
|
|
41.8
|
|
43.2
|
|
42.3
|
|
|
|
|
|
|
|
|
|
|
Total
|
15.2
|
|
15.5
|
|
15.6
|
|
15.6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
|
|
Total variable
operations gross profit per vehicle retailed is calculated by
dividing the sum of new vehicle, retail used vehicle, and finance
and insurance gross profit by total retail vehicle unit
sales.
|
|
|
|
|
|
|
|
|
Logo - http://photos.prnewswire.com/prnh/20151110/286019LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/autonation-reports-2015-fourth-quarter-and-full-year-results-300211001.html
SOURCE AutoNation, Inc.