AutoNation 2015 Annual Report Download - page 86
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Table of Contents
The following table presents the calculation of basic and diluted EPS:
Net income from continuing operations $ 443.7
$ 419.8
$ 375.8
Loss from discontinued operations, net of income taxes (1.1)
(1.1)
(0.9)
Net income $ 442.6
$ 418.7
$ 374.9
Weighted average common shares outstanding used in calculating basic EPS 112.7
117.3
121.3
Effect of dilutive stock options 1.2
1.6
2.0
Weighted average common shares outstanding used in calculating diluted EPS 113.9
118.9
123.3
Continuing operations $ 3.94
$ 3.58
$ 3.10
Discontinued operations $ (0.01)
$ (0.01)
$ (0.01)
Net income $ 3.93
$ 3.57
$ 3.09
Continuing operations $ 3.90
$ 3.53
$ 3.05
Discontinued operations $ (0.01)
$ (0.01)
$ (0.01)
Net income $ 3.89
$ 3.52
$ 3.04
(1) Earnings per share amounts are calculated discretely and therefore may not add up to the total due to rounding.
A summary of anti-dilutive options excluded from the computation of diluted earnings per share is as follows:
Anti-dilutive options excluded from the computation of diluted earnings per share 0.7
0.6
0.6
During 2015, we divested three Import stores and recorded a gain of $7.4 million ($4.6 million after-tax). During 2014, we divested two Import stores and
recorded a gain of $4.4 million ($2.7 million after-tax). We also divested our customer lead distribution business and recorded a gain of $8.4 million ($5.2
million after-tax) during 2014. This business was reported in the “Corporate and other” category of our segment information.
The gains on these divestitures are included in Other Income, Net (within Operating Income) in our Consolidated Statements of Income. The financial
condition and results of operations of these businesses were not material to our consolidated financial statements.
We purchased 22 stores and related assets during 2015, which include Chrysler, Dodge, Jeep, Ram, Mercedes-Benz, Honda, Ford, Lincoln, Audi,
Volkswagen, Hyundai, Subaru, Jaguar, Land Rover, Volvo, and Fiat franchises. We purchased five stores in 2014, and five stores in 2013. The amounts
incurred related to acquisitions were $321.5 million in 2015, $205.2 million in 2014, and $87.9 million in 2013. Acquisitions are included in the
Consolidated Financial Statements from the date of acquisition. The purchase price allocations for the business combinations in 2015 are preliminary and
subject to final adjustment.
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