AutoNation 2000 Annual Report Download - page 22
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o Share Repurchases: Since the inception of our Board-authorized share
repurchase programs in 1998, we have repurchased 138.6 million shares of
our common stock for an aggregate price of $1.57 billion through March 26,
2001. See further discussion under the heading "Financial Condition."
Unless otherwise stated, the following discussions will focus on the
results of continuing operations, which consists of our automotive retail
business.
Same Store Operating Data:
Our historical operating results include the results of acquired
businesses from the date of acquisition for acquisitions accounted for under
the purchase method of accounting. Due to our expansion through acquisitions as
well as the impact of divestitures, year over year comparisons of our reported
operating results do not necessarily provide a meaningful representation of our
internal performance. Accordingly, we have presented below our operating
results for the years ended December 31, 2000 and 1999 on a same store basis to
better reflect our internal performance.
20
The following table sets forth: (1) the components of same store revenue,
with component percentages of total revenue; (2) the components of same store
gross margin, with gross margin percentages of applicable same store revenue;
(3) same store selling, general and administrative expenses; (4) same store
performance; and (5) retail vehicle same store unit sales for the years ended
December 31 ($ in millions):
2000 % 1999 %
--------------- --------- -------------- ---------
Revenue:
New vehicle ................... $ 10,636.9 61.5 $ 10,405.8 60.5
Used vehicle .................. 3,167.1 18.3 3,260.2 19.0
Fixed operations .............. 1,947.2 11.3 1,904.9 11.1
Finance and insurance ......... 362.8 2.1 344.1 2.0
Other ......................... 1,192.0 6.8 1,284.8 7.4
------------ ----- ----------- -----
$ 17,306.0 100.0 $ 17,199.8 100.0
============ ===== =========== =====
Gross margin:
New vehicle ................... $ 894.1 8.4 $ 875.0 8.4
Used vehicle .................. 362.2 11.4 360.1 11.0
Fixed operations .............. 830.2 42.6 799.0 41.9
Finance and insurance ......... 362.8 100.0 344.1 100.0
Other ......................... 76.4 6.4 113.6 8.8
------------ -----------
2,525.7 14.6 2,491.8 14.5
S,G&A Store ..................... 1,663.4 9.6 1,691.4 9.8
------------ -----------
Store performance ............... $ 862.3 5.0 $ 800.4 4.7
============ ===========
Retail vehicle unit sales:
New ........................... 420,000 428,000
Used .......................... 212,000 231,000
------------ -----------
632,000 659,000
============ ===========
Same store revenue was $17.31 billion for the year ended December 31, 2000