AutoNation 2000 Annual Report Download - page 40

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---------- ----------
Total Current Liabilities ............................................ 3,141.3 3,134.2
LONG-TERM DEBT, NET OF CURRENT MATURITIES ............................... 850.4 836.1
DEFERRED INCOME TAXES ................................................... 877.2 804.8
OTHER LIABILITIES ....................................................... 118.6 206.8
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' EQUITY:
Preferred stock, par value $.01 per share; 5,000,000 shares authorized;
none issued .......................................................... -- --
Common stock, par value $.01 per share; 1,500,000,000 shares
authorized; 475,559,195 and 474,965,676 shares issued and outstanding
including shares held in treasury, respectively ...................... 4.8 4.7
Additional paid-in capital ............................................ 4,664.7 4,661.5
Retained earnings ..................................................... 649.3 1,213.8
Accumulated other comprehensive income ................................ 1.0 6.6
Treasury stock, at cost; 127,473,709 and 99,602,444 shares held,
respectively ......................................................... (1,477.3) (1,285.4)
---------- ----------
Total Shareholders' Equity ........................................... 3,842.5 4,601.2
---------- ----------
$ 8,830.0 $ 9,583.1
========== ==========
The accompanying notes are an integral part of these statements.
39
AUTONATION, INC.
CONSOLIDATED INCOME STATEMENTS
For the Years Ended December 31,
(In millions, except per share data)
2000 1999 1998
--------------- --------------- ---------------
REVENUE ..................................................... $ 20,609.6 $ 20,111.8 $ 12,664.6
COST OF OPERATIONS .......................................... 17,577.1 17,183.2 10,733.0
----------- ----------- -----------
GROSS MARGIN ................................................ 3,032.5 2,928.6 1,931.6
SELLING, GENERAL AND ADMINISTRATIVE
EXPENSES .................................................. 2,177.7 2,279.4 1,388.3
DEPRECIATION ................................................ 54.7 60.1 40.3
AMORTIZATION ................................................ 79.1 62.9 39.6
ASSET IMPAIRMENT CHARGES (RECOVERIES), NET .................. (3.8) 416.4 --
------------ ----------- ------------
OPERATING INCOME ............................................ 724.8 109.8 463.4
FLOORPLAN INTEREST EXPENSE .................................. (199.8) (125.2) (107.0)
OTHER INTEREST EXPENSE ...................................... (47.7) (34.9) (14.0)
INTEREST INCOME ............................................. 14.3 20.6 8.7
OTHER INCOME, NET ........................................... 33.4 2.2 1.5
------------ ------------ ------------
INCOME (LOSS) FROM CONTINUING OPERATIONS
BEFORE INCOME TAXES ....................................... 525.0 (27.5) 352.6
PROVISION FOR INCOME TAXES .................................. 196.9 4.0 126.8
------------ ------------ ------------
INCOME (LOSS) FROM CONTINUING OPERATIONS .................... 328.1 (31.5) 225.8
------------ ------------ ------------
DISCONTINUED OPERATIONS:
Income (loss) from discontinued operations, net of income
taxes .................................................... 13.1 (30.6) 262.1
Gain (loss) on disposal of segments, net of income taxes of
$(1.4), $516.9 and $8.4, respectively .................... (11.3) 345.0 11.6
------------ ------------ ------------
1.8 314.4 273.7
------------ ------------ ------------
NET INCOME .................................................. $ 329.9 $ 282.9 $ 499.5
============ ============ ============
BASIC EARNINGS (LOSS) PER SHARE:
Continuing operations ..................................... $ 0.91 $ (.07) $ .50
Discontinued operations ................................... -- .73 .60
------------ ------------- ------------
Net income ................................................ $ 0.91 $ .66 $ 1.10
============ ============= ============
Weighted average common shares outstanding ................ 361.3 429.8 455.1
============ ============= ============
DILUTED EARNINGS (LOSS) PER SHARE:
Continuing operations ..................................... $ 0.91 $ (.07) $ .48
Discontinued operations ................................... -- .73 .58
------------ ------------- ------------
Net income ................................................ $ 0.91 $ .66 $ 1.06
============ ============= ============
Weighted average common shares outstanding ................ 361.4 429.8 470.9
============ ============= ============