AutoNation 2000 Annual Report Download - page 20

ITEM 6. SELECTED FINANCIAL DATA
You should read the following Selected Financial Data in conjunction with
"Management's Discussion and Analysis of Financial Condition and Results of
Operations," our Consolidated Financial Statements and Notes thereto and other
financial information included elsewhere in this Form 10-K.
As of and for the Years Ended December 31,
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2000 1999 1998 1997 1996
--------------- --------------- --------------- -------------- --------------
(In millions, except per share data)
Revenue ........................... $ 20,609.6 $ 20,111.8 $ 12,664.6 $ 6,122.8 $ 2,933.7
Income (loss) from continuing
operations ...................... $ 328.1 $ (31.5) $ 225.8 $ 13.4 $ (1.1)
Net income (loss) ................. $ 329.9 $ 282.9 $ 499.5 $ 439.7 $ (6.7)
Basic earnings (loss) per share:
Continuing operations ........... $ .91 $ (.07) $ .50 $ .03 $ --
Discontinued operations ......... -- .73 .60 1.06 .08
Extraordinary charge ............ -- -- -- -- (.10)
------------ ------------- ------------ ----------- -----------
Net income (loss) ............... $ .91 $ .66 $ 1.10 $ 1.09 $ (.02)
============ ============= ============ =========== ============
Diluted earnings (loss) per share:
Continuing operations ........... $ .91 $ (.07) $ .48 $ .03 $ --
Discontinued operations ......... -- .73 .58 .99 .08
Extraordinary charge ............ -- -- -- -- (.10)
------------ ------------- ------------ ----------- ------------
Net income (loss) ............... $ .91 $ .66 $ 1.06 $ 1.02 $ (.02)
============ ============= ============ =========== ============
Total assets ...................... $ 8,830.0 $ 9,583.1 $ 8,412.2 $ 4,852.1 $ 2,229.1
Long-term debt, net ............... $ 850.4 $ 836.1 $ 520.9 $ 261.1 $ 269.3
Shareholders' equity .............. $ 3,842.5 $ 4,601.2 $ 5,424.2 $ 3,484.3 $ 1,419.9
Diluted weighted average common
shares outstanding .............. 361.4 429.8 470.9 430.9 320.9
See Notes 2, 6, 9, 10 and 11 of Notes to Consolidated Financial Statements
for discussion of business acquisitions and divestitures, shareholders' equity,
earnings (loss) per share, restructuring and impairment charges (recoveries),
net and discontinued operations, respectively, and their effect on
comparability of year-to-year data. See "Item 5. Market for the Registrant's
Common Equity and Related Stockholder Matters" for a discussion of our dividend
policy.
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ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS
You should read the following discussion in conjunction with the
"Introduction," "Recent Developments," "Business Strategy," and "Risk Factors"
sections of this Form 10-K and our Consolidated Financial Statements and notes
thereto included elsewhere in this Form 10-K.
Consolidated Results of Operations
AutoNation, Inc. is the largest automotive retailer in the United States.
As of December 31, 2000, we owned and operated approximately 400 new vehicle
franchises from dealership locations in major metropolitan markets in 18
states, predominantly in the Sunbelt. Our dealerships offer new and used
vehicles for sale. We also offer financing for vehicle purchases, extended
service contracts and other finance and insurance products, as well as other
aftermarket products such as vehicle accessories, upgraded sound systems and
theft deterrent systems. We also offer a wide range of vehicle maintenance and
repair services and we operate collision repair centers in most of our key
markets. The core brands of vehicles that we sell, representing almost 90% of
the new vehicles that we sold in 2000, are Ford (Ford, Lincoln and Mercury),
General Motors (Chevrolet, Pontiac, GMC and Buick), Chrysler (Chrysler, Jeep
and Dodge), Toyota, Nissan and Honda. We also sell several luxury vehicle