{"id":515282,"date":"2021-07-20T16:08:42","date_gmt":"2021-07-20T20:08:42","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/rush-enterprises-inc-reports-second-quarter-2021-results-announces-0-19-per-share-dividend\/"},"modified":"2021-07-20T16:08:42","modified_gmt":"2021-07-20T20:08:42","slug":"rush-enterprises-inc-reports-second-quarter-2021-results-announces-0-19-per-share-dividend","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/rush-enterprises-inc-reports-second-quarter-2021-results-announces-0-19-per-share-dividend\/","title":{"rendered":"Rush Enterprises, Inc. Reports Second Quarter 2021 Results, Announces $0.19 Per Share Dividend"},"content":{"rendered":"<div class=\"mw_release\">\n<ul>\n<li style=\"text-align:justify\">Revenues of $1.316 billion, net income of $58.0 million<\/li>\n<li style=\"text-align:justify\">Earnings per diluted share of $1.00<\/li>\n<li style=\"text-align:justify\">Absorption ratio 129.1%<\/li>\n<li style=\"text-align:justify\">Strong financial results due largely to economic recovery; supply chain issues continue to impact aftermarket sales and new truck availability<\/li>\n<li style=\"text-align:justify\">Board declares cash dividend of $0.19 per share of Class A and Class B common stock, increasing dividend by 5.6% over prior quarterly dividend<\/li>\n<\/ul>\n<p align=\"justify\">SAN ANTONIO, July  20, 2021  (GLOBE NEWSWIRE) &#8212; Rush Enterprises, Inc. (NASDAQ: RUSHA &amp; RUSHB), which operates the largest network of commercial vehicle dealerships in North America, today announced that for the quarter ended June 30, 2021, the Company achieved revenues of $1.316 billion and net income of $58.0 million, or $1.00 per diluted share, compared with revenues of $1.003 billion and net income of $16.8 million, or $0.30 per diluted share, in the quarter ended June 30, 2020. Additionally, the Company\u2019s Board of Directors declared a cash dividend of $0.19 per share of Class A and Class B Common Stock, to be paid on September 10, 2021, to all shareholders of record as of August 10, 2021.<\/p>\n<p align=\"justify\">\u201cWe are proud of our team for achieving impressive financial results in the second quarter, which were largely driven by the continued nationwide economic recovery and widespread activity throughout most market segments we support,\u201d said W.M. \u201cRusty\u201d Rush, Chairman, Chief Executive Officer and President of Rush Enterprises, Inc.\u00a0\u00a0 \u201cIn addition to healthy demand for new and used trucks and aftermarket products and services resulting from the continued economic recovery, our continued focus on expense management also contributed to our strong results this quarter,\u201d he added. <\/p>\n<p>\u201cRight now, component supply chain issues are the biggest concern in our industry, as they are directly affecting new truck production, with the timing of some new truck deliveries now stretching well into 2022. However, demand remains strong, and manufacturers plan to increase production as component parts become more readily available. Industry-wide aftermarket sales have also been impacted by supply constraints, but we believe our parts inventory management has mitigated those impacts on our business and we expect our aftermarket sales will continue to improve throughout 2021,\u201d said Rush.<\/p>\n<p align=\"justify\">\u201cOur Board of Directors approved a $0.01 increase in our quarterly cash dividend, our fourth increase since we announced our intent to begin paying a quarterly cash dividend in July 2018 as part of our capital allocation strategy. This dividend increase represents a 5.6% increase over the first quarter of 2021 dividend and is further evidence of our intent to increase the dividend on an annual basis, although future declarations of dividends are subject to approval by the Company\u2019s Board of Directors and may be adjusted as business needs or market conditions change,\u201d explained Rush.<\/p>\n<p align=\"justify\">\u201cWe believe our financial results will be strong for the remainder of 2021 as we continue to navigate this unusual market marked by both unprecedented supply constraints and strong customer demand. We will continue to manage expenses company-wide, while we continue adding personnel to meet market demand,\u201d Rush said. \u201cIt is important that I recognize our employees for their steadfast commitment to our company and support of our customers, which allowed us to have such a great quarter,\u201d said Rush.<\/p>\n<p align=\"center\">\n        <strong>Operations<\/strong>\n      <\/p>\n<p align=\"justify\">\n        <strong>Aftermarket Products and Services<\/strong><\/p>\n<p>Aftermarket products and services accounted for approximately 62% of the Company\u2019s total gross profit in the second quarter of 2021, with parts, service and collision center revenues reaching $445.5 million. The Company achieved a quarterly absorption ratio of 129.1% in the second quarter of 2021, compared to 110.2% in the second quarter of 2020.<\/p>\n<p align=\"justify\">\u201cOur parts and services revenues were up 18% in the second quarter of 2021 compared to the same quarter last year, which we attribute to the overall recovery of the national economy,\u201d said Rush. \u201cOur parts sales are back to pre-pandemic levels, with healthy activity in a variety of market segments, especially leasing, refuse and over-the-road customers and from independent service centers. However, parts sales are beginning to be impacted by supplier constraints. To date, we have been able to mitigate most of the impact of supplier constraints with the size of our parts inventory at our nationwide dealership network. Service revenues are improving at a slower pace, which is due in part to staffing issues common in the industry, along with supply chain issues. We are actively hiring parts personnel and service technicians throughout our network and remain focused on promoting our Xpress Services preventive and contract maintenance offerings, which enable us to bring in business and build long-term relationships with new customers,\u201d Rush said. <\/p>\n<p>\u201cAs we look ahead, supply constraints are expected to continue to negatively impact the industry through 2021.\u00a0\u00a0 Our parts management technologies help us adjust to current market dynamics and effectively manage our nationwide parts inventory. Further, we are piloting \u201cfinal mile\u201d route optimization software to improve efficiency in our parts deliveries. With the economy expected to remain strong, we believe our aftermarket revenues will continue to increase for the remainder of 2021,\u201d said Rush.<\/p>\n<p align=\"justify\">\n        <strong>Commercial Vehicle Sales<\/strong>\n      <\/p>\n<p align=\"justify\">New U.S. Class 8 retail truck sales totaled 58,844 units in the second quarter of 2021, up 63.3% over the second quarter last year, according to ACT Research. The Company sold 2,954 new Class 8 trucks in the second quarter, an increase of 58.3% compared to the second quarter of 2020, which accounted for 5.0% of the new U.S. Class 8 truck market.<\/p>\n<p align=\"justify\">\u201cIn the second quarter, our new Class 8 truck sales were up significantly compared to the second quarter of 2020, due to healthy activity from a wide variety of market segments, including vocational, construction and over-the-road customers as well as strong sales of stock trucks. Our results were again driven by the continued economic recovery and strong freight rates throughout the country,\u201d said Rush. <\/p>\n<p>\u201cAs we look ahead, component supply issues will likely continue to impact new Class 8 truck production through the third quarter or longer, pushing out the delivery dates for new trucks and contributing to a historically high backlog. Depending on our manufacturers\u2019 ability to ramp up production capacities, we believe our third quarter new Class 8 truck sales will be consistent with our second quarter results and expect new Class 8 truck sales will accelerate later this year and into 2022,\u201d Rush said. <\/p>\n<p>New\u00a0U.S.\u00a0Class 4 through 7 retail commercial vehicle sales totaled 63,426 units in the second quarter of 2021, up 26.1% over the second quarter last year, according to\u00a0ACT Research.\u00a0 The Company sold 2,825 new Class 4-7 medium-duty commercial vehicles in the second quarter of 2021, an increase of 21.1% compared to the second quarter of 2020, representing 4.5% of the U.S. Class 4-7 commercial vehicle market. \u201cIn the second quarter, our Class 4-7 new commercial truck sales were up significantly year-over-year, largely due to the nation\u2019s overall economic strength, as well as increased activity from our lease and rental and food service customers who continue to recover from the effects of the pandemic.\u00a0\u00a0 However, component supply chain issues also continue to cause production shutdowns for some of the medium-duty manufacturers we represent. Looking ahead, we believe Class 4-7 truck production capabilities will not improve as quickly as Class 8 truck manufacturing, which will negatively impact Class 4-7 truck sales in the third quarter. That said, demand is strong, and we are well positioned to take advantage of every sales opportunity,\u201d Rush said. <\/p>\n<p>The Company sold 2,094 used commercial trucks in the second quarter of 2021, an increase of 18.4% over the second quarter of 2020.<\/p>\n<p align=\"justify\">\u201cUsed truck sales continued to be exceptionally strong across all market segments in the second quarter, driven primarily by the limited availability of new Class 8 trucks. Used truck values remain historically high as well, though we expect some softening may occur later this year if new truck production increases. While it is becoming more challenging to maintain a desirable supply of used trucks, we believe used truck demand will remain healthy, and our third quarter sales will be on pace with our second quarter results,\u201d said Rush.<\/p>\n<p align=\"center\">\n        <strong><br \/>\n          <em>Strategic Growth and Expanded Customer Support Through Joint Venture with Cummins, Inc.<\/em><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"justify\">In June, Cummins Inc. and Rush Enterprises, Inc. signed a Letter of Intent for Cummins to acquire a 50% equity interest in Momentum Fuel Technologies. The joint venture will produce Cummins-branded natural gas fuel delivery systems for the commercial vehicle market in North America and offer aftermarket support through Rush Truck Centers dealerships and Cummins distributors, which will be able to service both the engine and the fuel delivery system.<\/p>\n<p align=\"justify\">\u201cWe believe in the long-term viability of natural gas vehicles. The current economic and infrastructure challenges associated with the adoption of Class 8 electric vehicles, existing and future emissions regulations and the environmental benefits of vehicles operating on renewable natural gas will make natural gas vehicles a practical choice for many of our customers for the foreseeable future. This joint venture will further enable us to keep customers\u2019 trucks up and running across the country through Cummins\u2019 and Rush Truck Centers\u2019 broad portfolio of aftermarket solutions and robust support network throughout North America,\u201d said Rush. The joint venture is expected to close later this year.<\/p>\n<p align=\"center\">\n        <strong><br \/>\n          <em>Financial Highlights<\/em><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"justify\">In the second quarter of 2021, the Company\u2019s gross revenues totaled $1.316 billion, a 31.3% increase from gross revenues of $1.003 billion reported in the second quarter of 2020. Net income for the second quarter of 2021 was $58.0 million, or $1.00 per diluted share, compared to net income of $16.8 million, or $0.30 per diluted share, in the second quarter of 2020.<\/p>\n<p align=\"justify\">Aftermarket products and services revenues were $445.5 million in the second quarter of 2021, compared to $377.6 million in the second quarter of 2020. The Company delivered 2,954 new heavy-duty trucks, 2,825 new medium-duty commercial vehicles, 472 new light-duty commercial vehicles and 2,094 used commercial vehicles during the second quarter of 2021, compared to 1,866 new heavy-duty trucks, 2,333 new medium-duty commercial vehicles, 254 new light-duty commercial vehicles and 1,768 used commercial vehicles during the second quarter of 2020.<\/p>\n<p align=\"justify\">The Company\u2019s lease and rental revenues increased by 7.2% in the second quarter of 2021, compared to the second quarter of 2020. Rush Truck Leasing operates 45 PacLease and Idealease franchises with more than 8,800 trucks in its lease and rental fleet and more than 1,300 trucks under contract maintenance agreements.<\/p>\n<p>During the second quarter of 2021, the Company repurchased $4.2 million of its common stock pursuant to its stock repurchase plan. In addition, the Company paid a cash dividend of $10.0 million during the second quarter of 2021.<\/p>\n<p align=\"justify\">\u201cWith our continued focus on growing our business while carefully managing expenses, our balance sheet and cash position remain strong. We are proud to continue to return capital to shareholders through our dividend and share repurchase programs while continuing to invest in our long-term strategic initiatives. As always, we are grateful to our employees for their hard work and dedication to our company\u2019s goals while supporting our customers,\u201d Rush said.<\/p>\n<p align=\"center\">\n        <strong><br \/>\n          <em>Conference Call Information<\/em><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"justify\">Rush Enterprises will host its quarterly conference call to discuss earnings for the second quarter on <strong>Wednesday, July 21, 2020, at 10 a.m. Eastern\/9 a.m. Central<\/strong>. The call can be heard live by dialing <strong>877-638-4557 (Toll Free) or 914-495-8522 (Conference ID 6227189) <\/strong>or via the Internet at\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=p7aRuVA1sYV6vgWnEqe4P6ALHVIbFr_SlojTZsGdgftOxkLGQPRduibYMefD_lErzXbiI4-hzOzo1yvbLuDiMSkT3zn0ylWq6SHhK9sCrX3pr6NS3Q1J1CloK5WQGP66q551l-8pxIp6jLn6GlAUdsHLOv-w1KXq4ln27ez9uBo=\" rel=\"nofollow noopener\" target=\"_blank\">http:\/\/investor.rushenterprises.com\/events.cfm<\/a>.<\/p>\n<p align=\"justify\">For those who cannot listen to the live broadcast, the webcast will be available on our website at the above link until October 10, 2021. Listen to the audio replay until July 28, 2021, by dialing <strong>855-859-2056 (Toll Free) or 404-537-3406<\/strong> and entering the <strong>Conference ID 6227189.<\/strong><\/p>\n<p align=\"left\">\n        <strong>About Rush Enterprises, Inc.<\/strong>\n      <\/p>\n<p align=\"justify\">Rush Enterprises, Inc. is the premier solutions provider to the commercial vehicle industry. The Company owns and operates Rush Truck Centers, the largest network of commercial vehicle dealerships in North America, with more than 100 dealership locations in 22 states. These vehicle centers, strategically located in high traffic areas on or near major highways throughout the United States, represent truck and bus manufacturers, including Peterbilt, International, Hino, Isuzu, Ford, IC Bus and Blue Bird. They offer an integrated approach to meeting customer needs \u2014 from sales of new and used vehicles to aftermarket parts, service and collision center operations plus financing, insurance, leasing and rental. Rush Enterprises&#8217; operations also provide vehicle upfitting, CNG fuel systems and vehicle telematics products. Additional information about Rush Enterprises\u2019 products and services is available at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=bIY20HhV9jQOlxLgrz4w33hIO1mo3TooWTp8PQqe4y8H2soDQfu-teuh7c2o7sHaw3VAax-eYxo3cwHUkZ4RWe7-b_Ni7k6eNGW2oLj7A0s=\" rel=\"nofollow noopener\" target=\"_blank\"><u>www.rushenterprises.com<\/u><\/a>. Follow our news on Twitter at @rushtruckcenter and on Facebook at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=ilfsAAybjbzfNl5TL2Fa4sAYzROisSCZSSYpB_SIQqW5KipSnHAt-G4nY_9j1sOO6pEf0-bDpqyVvUJsi-_ZkwQcGMU6QXJUj3dEWrFh22a_K_sSdIc24G4TB-dB4_r-\" rel=\"nofollow noopener\" target=\"_blank\"><u>facebook.com\/rushtruckcenters<\/u><\/a>.<\/p>\n<p align=\"justify\">\n        <em>Certain statements contained in this release, including those concerning current and projected market conditions, sales forecasts, market share forecasts, and anticipated demand for the Company\u2019s services, are \u201cforward-looking\u201d statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Such forward-looking statements only speak as of the date of this release and the Company assumes no obligation to update the information included in this release. Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, competitive factors, general U.S. economic conditions, economic conditions in the new and used commercial vehicle markets, customer relations, relationships with vendors, the interest rate environment, governmental regulation and supervision, product introductions and acceptance, changes in industry practices, the duration and severity of the COVID-19 pandemic and governmental mandates in connection therewith, one-time events and other factors described herein and in filings made by the Company with the Securities and Exchange Commission, including in our annual report on Form 10-K for the fiscal year ended December 31, 2020.<\/em>\u00a0\u00a0 <em>In addition, the declaration and payment of cash dividends and authorization of future share repurchase programs remains at the sole discretion of the Company\u2019s Board of Directors and the issuance of future dividends and authorization of future share repurchase programs will depend upon the Company\u2019s financial results, cash requirements, future prospects, applicable law and other factors that may be deemed relevant by the Company\u2019s Board of Directors. Although we believe that these forward-looking statements are based on reasonable assumptions, there are many factors that could affect our actual business and financial results and could cause actual results to differ materially from those in the forward-looking statements. All future written and oral forward-looking statements by us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to above. Except for our ongoing obligations to disclose material information as required by the federal securities laws, we do not have any obligations or intention to release publicly any revisions to any forward-looking statements to reflect events or circumstances in the future or to reflect the occurrence of unanticipated events.<\/em><\/p>\n<p align=\"center\">-Tables and Additional Information to Follow-<\/p>\n<p align=\"center\">\n<p>        <strong><br \/>\n          <u>RUSH ENTERPRISES, INC. AND SUBSIDIARIES<\/u><br \/>\n        <\/strong><br \/>\n        <br \/>\n        <strong><br \/>\n          <u>CONSOLIDATED BALANCE SHEETS<\/u><br \/>\n        <\/strong><br \/>\n        <br \/>(In Thousands, Except Shares and Per Share Amounts)<\/p>\n<table align=\"center\" style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>June 30,<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>December 31,<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:66%;width:66%;min-width:66%;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2021<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2020<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">(unaudited)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\n            <strong>Assets<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;vertical-align: bottom\">Current assets:<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Cash and cash equivalents<\/td>\n<td style=\"text-align: right;vertical-align: middle\">$<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">315,911<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">$<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">312,048<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Accounts receivable, net<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">160,435<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">172,481<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Inventories, net<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">813,773<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">858,291<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0 \u00a0 \u00a0 \u00a0 Prepaid expenses and other<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">16,161<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">14,906<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Total current assets<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,306,280<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,357,726<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Property and equipment, net<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,179,312<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,203,719<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Operating lease right-of-use assets, net<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">62,025<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">60,577<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Goodwill, net<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">292,142<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">292,142<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Other assets, net<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">72,365<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">71,229<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Total assets<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">2,912,124<\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">$<\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">2,985,393<\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\n            <strong>Liabilities and shareholders\u2019 equity<\/strong>\n          <\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;vertical-align: bottom\">Current liabilities:<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Floor plan notes payable<\/td>\n<td style=\"text-align: right;vertical-align: middle\">$<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">470,877<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">$<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">511,786<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Current maturities of long-term debt<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">120,593<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">141,672<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Current maturities of finance lease obligations<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">26,006<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">26,373<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0 \u00a0 \u00a0 \u00a0 Current maturities of operating lease obligations<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">10,950<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">10,196<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Trade accounts payable<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">124,124<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">110,728<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Customer deposits<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">50,484<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">74,209<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Accrued expenses<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">125,777<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">151,830<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Total current liabilities<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">928,811<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,026,794<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Long-term debt, net of current maturities<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">332,165<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">387,982<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Finance lease obligations, net of current maturities<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">91,209<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">90,740<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Operating lease obligations, net of current maturities<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">52,321<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">51,155<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Other long-term liabilities<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">35,582<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">34,246<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Deferred income taxes, net<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">111,837<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">126,439<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Shareholders\u2019 equity:<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">Preferred stock, par value $.01 per share; 1,000,000 shares authorized; 0 shares outstanding in 2021 and 2020<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0 \u2013<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u2013<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px;vertical-align: bottom\">Common stock, par value $.01 per share; 60,000,000\u00a0Class A shares and 20,000,000 Class B shares authorized; 43,104,231 Class A shares and 12,560,943 Class B shares outstanding in 2021; and 42,503,925 Class A shares and 12,470,308 Class B shares outstanding in 2020<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">560<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">551<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px\">Additional paid-in capital<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">456,785<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">437,646<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px\">Treasury stock, at cost: 12,999 Class A shares and 327,824 Class B shares in 2021; and 10,335 Class A shares and 73,437 Class B shares in 2020<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(13,585<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(2,879<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px\">Retained earnings<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">915,003<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">831,850<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 25.0px\">Accumulated other comprehensive income<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,436<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">869<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Total shareholders\u2019 equity<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,360,199<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,268,037<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Total liabilities and shareholders\u2019 equity<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">$<\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">2,912,124<\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">$<\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">2,985,393<\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"7\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"7\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"center\">\n        <strong><br \/>\n          <u>RUSH ENTERPRISES, INC. AND SUBSIDIARIES<\/u><br \/>\n        <\/strong><br \/>\n        <br \/>\n        <strong><br \/>\n          <u>CONSOLIDATED STATEMENTS OF OPERATIONS<\/u><br \/>\n        <\/strong><br \/>\n        <br \/>(In Thousands, Except Per Share Amounts)<br \/>(Unaudited)<\/p>\n<table align=\"center\" style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"4\" style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>Three Months Ended<\/strong><br \/>\n            <br \/>\n            <strong>June 30,<\/strong>\n          <\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"3\" style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>Six Months Ended<\/strong><br \/>\n            <br \/>\n            <strong>June 30,<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:35%;width:35%;min-width:35%;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: top\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;vertical-align: middle;text-align: left;padding-left: 10.0px;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>2021<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: middle;text-align: left;padding-left: 10.0px;border-top: solid black 1pt;vertical-align: top\">\u00a0<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;vertical-align: middle;text-align: left;padding-left: 10.0px;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>2020<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;vertical-align: middle;text-align: left;padding-left: 10.0px;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>2021<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;vertical-align: middle;text-align: left;padding-left: 10.0px;border-top: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;vertical-align: middle;text-align: left;padding-left: 10.0px;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>2020<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\n            <strong>Revenues<\/strong>\n          <\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0New and used commercial vehicle sales<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">797,269<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">559,062<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">1,544,988<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">1,348,616<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Parts and service sales<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">445,526<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">377,553<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">861,263<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">805,531<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Lease and rental<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">61,396<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">57,290<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">119,623<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">118,071<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Finance and insurance<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">7,407<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">4,960<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">13,872<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">9,427<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Other<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">4,417<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">3,647<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">8,075<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">7,530<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0 \u00a0 \u00a0 \u00a0 Total revenue<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,316,015<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">1,002,512<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">2,547,821<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">2,289,175<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\n            <strong>Cost of products sold<\/strong>\n          <\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0New and used commercial vehicle sales<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">719,768<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">521,494<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">1,396,860<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">1,250,033<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Parts and service sales<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">277,078<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">237,196<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">538,920<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">508,611<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Lease and rental<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">48,387<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">51,491<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">96,445<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">103,699<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0 \u00a0 \u00a0 \u00a0 Total cost of products sold<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,045,233<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">810,181<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">2,032,225<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">1,862,343<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\n            <strong>Gross profit<\/strong>\n          <\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">270,782<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">192,331<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">515,596<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">426,832<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Selling, general and administrative expense<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">184,734<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">156,195<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">359,689<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">341,269<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Depreciation and amortization expense<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">13,421<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">14,516<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">27,147<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">28,846<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Gain (loss) on sale of assets<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">164<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">1,381<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">256<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">1,481<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\n            <strong>Operating income<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">72,791<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">23,001<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">129,016<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">58,198<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Other income<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,746<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">1,720<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">2,665<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">2,961<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Interest (income) expense, net<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(212<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">2,209<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">295<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">6,978<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <strong>Income before taxes<\/strong>\n          <\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">74,749<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">22,512<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">131,386<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">54,181<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">Provision for income taxes<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">16,705<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">5,696<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">28,009<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">14,258<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\n            <strong>Net income <\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: double 15px 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">58,044<\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">16,816<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">103,377<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-bottom: double 15px 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">39,923<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-top: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-top: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-top: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;border-top: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\n            <strong>Earnings per common share:<\/strong>\n          <\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Basic<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1.04<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">0.31<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">1.85<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">0.73<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Diluted<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1.00<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">0.30<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">1.79<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">0.72<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\n            <strong>Weighted average shares outstanding:<\/strong>\n          <\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Basic<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">56,009<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">54,436<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">55,819<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">54,581<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Diluted<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">57,956<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">55,351<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">57,846<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">55,670<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: top\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Dividends declared per common share<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">0.18<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">0.09<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">0.36<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">0.17<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">This press release and the attached financial tables contain certain non-GAAP financial measures as defined under SEC rules, such as Adjusted net income, Adjusted total debt, Adjusted net (cash) debt, EBITDA, Adjusted EBITDA, Free cash flow, Adjusted free cash flow and Adjusted invested capital, which exclude certain items disclosed in the attached financial tables. The Company provides reconciliations of these measures to the most directly comparable GAAP measures.<\/p>\n<p align=\"justify\">Management believes the presentation of these non-GAAP financial measures provides useful information about the results of operations of the Company for the current and past periods. Management believes that investors should have the same information available to them that management uses to assess the Company\u2019s operating performance and capital structure. These non-GAAP financial measures should not be considered in isolation or as a substitute for the most comparable GAAP financial measures. Investors are cautioned that non-GAAP financial measures utilized by the Company may not be comparable to similarly titled non-GAAP financial measures used by other companies.<\/p>\n<table align=\"center\" style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"5\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>Three Months Ended<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\n            <strong>\u00a0 \u00a0 \u00a0Vehicle Sales Revenue <\/strong>(in thousands)<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>June 30, 2021<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\n            <strong>June 30, 2020<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:66%;width:66%;min-width:66%;border-top: solid black 1pt;vertical-align: bottom\">\u00a0 \u00a0 \u00a0New heavy-duty vehicles<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">434,902<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">287,721<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0 \u00a0 \u00a0New medium-duty vehicles (including bus sales revenue)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">226,231<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">191,760<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0 \u00a0 \u00a0New light-duty vehicles<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">21,370<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">11,212<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0 \u00a0 \u00a0Used vehicles<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">112,563<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">66,856<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0 \u00a0 \u00a0Other vehicles<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">2,203<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,513<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0 \u00a0 \u00a0Absorption Ratio<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">129.1<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">110.2<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">\n        <strong><br \/>\n          <u>Absorption Ratio<\/u><br \/>\n        <\/strong><br \/>\n        <br \/>Management uses several performance metrics to evaluate the performance of its commercial vehicle dealerships and considers Rush Truck Centers\u2019 \u201cabsorption ratio\u201d to be of critical importance. Absorption ratio is calculated by dividing the gross profit from the parts, service and collision center departments by the overhead expenses of all of a dealership\u2019s departments, except for the selling expenses of the new and used commercial vehicle departments and carrying costs of new and used commercial vehicle inventory. When 100% absorption is achieved, then gross profit from the sale of a commercial vehicle, after sales commissions and inventory carrying costs, directly impacts operating profit.<\/p>\n<table align=\"center\" style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\n            <strong>Debt Analysis\u00a0<\/strong>(in thousands)<strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/strong><\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong> June 30, <br \/>2021<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>June 30,<\/strong><br \/>\n            <br \/>\n            <strong>2020<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:66%;width:66%;min-width:66%;border-top: solid black 1pt;vertical-align: bottom\">Floor plan notes payable<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">470,877<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">724,946<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Current maturities of long-term debt<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">120,593<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">177,742<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Current maturities of finance lease obligations<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">26,006<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">24,223<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Long-term debt, net of current maturities<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">332,165<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">408,580<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Finance lease obligations, net of current maturities<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">91,209<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">82,145<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Total Debt (GAAP)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,040,850<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,417,636<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">Adjustments:<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">Debt related to lease &amp; rental fleet<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(565,556<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(633,543<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">Floor plan notes payable<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(470,877<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(724,946<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Adjusted Total Debt (Non-GAAP)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">4,417<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">59,147<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">\u00a0Adjustment:<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">Cash and cash equivalents<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(315,911<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(215,556<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Adjusted Net Debt (Cash) (Non-GAAP)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(311,494<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(156,409<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td colspan=\"7\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">Management uses \u201cAdjusted Total Debt\u201d to reflect the Company\u2019s estimated financial obligations less debt related to lease and rental fleet (L&amp;RFD) and floor plan notes payable (FPNP), and \u201cAdjusted Net (Cash) Debt\u201d to present the amount of Adjusted Total Debt net of cash and cash equivalents on the Company\u2019s balance sheet. The FPNP is used to finance the Company\u2019s new and used inventory, with its principal balance changing daily as vehicles are purchased and sold and the sale proceeds are used to repay the notes. Consequently, in managing the business, management views the FPNP as interest bearing accounts payable, representing the cost of acquiring the vehicle that is then repaid when the vehicle is sold, as the Company\u2019s credit agreements require it to repay loans used to purchase vehicles when such vehicles are sold. The Company\u2019s lease &amp; rental fleet are fully financed and are either (i) leased to customers under long-term lease arrangements or (ii), to a lesser extent, dedicated to the Company\u2019s rental business. In both cases, the lease and rental payments received fully cover the capital costs of the lease &amp; rental fleet (i.e., the interest expense on the borrowings used to acquire the vehicles and the depreciation expense associated with the vehicles), plus a profit margin for the Company.<strong>\u00a0\u00a0<\/strong> The Company believes excluding the FPNP and L&amp;RFD from the Company\u2019s total debt for this purpose provides management with supplemental information regarding the Company\u2019s capital structure and leverage profile and assists investors in performing analysis that is consistent with financial models developed by Company management and research analysts. \u201cAdjusted Total Debt\u201d and \u201cAdjusted Net (Cash) Debt\u201d are both non-GAAP financial measures and should be considered in addition to, and not as a substitute for, the Company\u2019s debt obligations, as reported in the Company\u2019s consolidated balance sheet in accordance with U.S. GAAP. Additionally, these non-GAAP measures may vary among companies and may not be comparable to similarly titled non-GAAP measures used by other companies.<\/p>\n<table align=\"center\" style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"5\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Twelve Months Ended<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\n            <strong>EBITDA <\/strong>(in thousands)<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong> June 30, 2021<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong> June 30, 2020<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:66%;width:66%;min-width:66%;border-top: solid black 1pt;vertical-align: bottom\">\n            <strong>Net Income (GAAP)<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">178,341<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">102,781<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Provision for income taxes<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">50,587<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">36,955<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Interest expense<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">2,331<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">20,355<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Depreciation and amortization<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">55,757<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">57,699<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">(Gain) loss on sale of assets<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(627<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(1,461<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>EBITDA (Non-GAAP)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">286,389<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">216,329<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">Adjustments:<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">Interest expense associated with FPNP<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(1,615<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(19,682<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Adjusted EBITDA (Non-GAAP)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">284,774<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">196,647<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"7\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">The Company presents EBITDA and Adjusted EBITDA, for the twelve months ended each period presented, as additional information about its operating results. The presentation of Adjusted EBITDA that excludes the addition of interest expense associated with FPNP to EBITDA is consistent with management\u2019s presentation of Adjusted Total Debt, in each case reflecting management\u2019s view of interest expense associated with the FPNP as an operating expense of the Company, and to provide management with supplemental information regarding operating results and to assist investors in performing analysis that is consistent with financial models developed by management and research analyst. \u201cEBITDA\u201d and \u201cAdjusted EBITDA\u201d are both non-GAAP financial measures and should be considered in addition to, and not as a substitute for, net income of the Company, as reported in the Company\u2019s consolidated statements of income in accordance with U.S. GAAP. Additionally, these non-GAAP measures may vary among companies and may not be comparable to similarly titled non-GAAP measures used by other companies.<\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"5\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Twelve Months Ended<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\n            <strong>Free Cash Flow\u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0<\/strong>(in thousands)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong> June 30, 2021<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>June 30, 2020<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:66%;width:66%;min-width:66%;border-top: solid black 1pt;vertical-align: bottom\">\n            <strong>Net cash provided by operations (GAAP)<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">578,796<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">871,425<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Acquisition of property and equipment<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(138,316<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(222,656<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Free cash flow (Non-GAAP)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">440,480<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">648,769<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">Adjustments:<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">Payments on floor plan financing, net<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(171,720<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(415,803<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">Proceeds from L&amp;RFD<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">90,232<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">154,488<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">Principal payments on L&amp;RFD<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(180,937<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(177,548<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">Non-maintenance capital expenditures<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">8,127<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">32,143<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Adjusted Free Cash Flow (Non-GAAP)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">186,182<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">242,049<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"7\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">\u201cFree Cash Flow\u201d and \u201cAdjusted Free Cash Flow\u201d are key financial measures of the Company\u2019s ability to generate cash from operating its business. Free Cash Flow is calculated by subtracting the acquisition of property and equipment included in the <em>Cash flows from investing activities<\/em> from <em>Net cash provided by (used in) operating activities<\/em>. For purposes of deriving Adjusted Free Cash Flow from the Company\u2019s operating cash flow, Company management makes the following adjustments: (i) adds back draws (or subtracts payments) on the floor plan financing that are included in <em>Cash flows from financing activities<\/em> as their purpose is to finance the vehicle inventory that is included in <em>Cash flows from operating activities<\/em>; (ii) adds back proceeds from notes payable related specifically to the financing of the lease and rental fleet that are reflected in <em>Cash flows from financing activities<\/em>; (iii) subtracts draws on floor plan financing, net and proceeds from L&amp;RFD related to business acquisition assets that are included in <em>Cash flows from investing activities; (<\/em>iv) subtracts principal payments on notes payable related specifically to the financing of the lease and rental fleet that are included in <em>Cash flows from financing activities<\/em>; and (v) adds back non-maintenance capital expenditures that are for growth and expansion (i.e. building of new dealership facilities) that are not considered necessary to maintain the current level of cash generated by the business. \u201cFree Cash Flow\u201d and \u201cAdjusted Free Cash Flow\u201d are both presented so that investors have the same financial data that management uses in evaluating the Company\u2019s cash flows from operating activities. \u201cFree Cash Flow\u201d and \u201cAdjusted Free Cash Flow\u201d are both non-GAAP financial measures and should be considered in addition to, and not as a substitute for, net cash provided by (used in) operations of the Company, as reported in the Company\u2019s consolidated statement of cash flows in accordance with U.S. GAAP. Additionally, these non-GAAP measures may vary among companies and may not be comparable to similarly titled non-GAAP measures used by other companies. <br \/><strong>\u00a0\u00a0<\/strong><\/p>\n<table align=\"center\" style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\n            <strong>Invested Capital <\/strong>(in thousands)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong> June 30, 2021<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>June 30, 2020<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:66%;width:66%;min-width:66%;border-top: solid black 1pt;vertical-align: bottom\">\n            <strong>Total Shareholders&#8217; equity (GAAP)<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,360,199<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,186,560<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Adjusted net debt (cash) (Non-GAAP)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(311,494<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(156,409<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Adjusted Invested Capital (Non-GAAP)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,048,705<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top\">$<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,030,151<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"7\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">\u201cAdjusted Invested Capital\u201d is a key financial measure used by the Company to calculate its return on invested capital. For purposes of this analysis, management excludes L&amp;RFD, FPNP, and cash and cash equivalents, for the reasons provided in the debt analysis above and uses Adjusted Net Debt in the calculation. The Company believes this approach provides management a more accurate picture of the Company\u2019s leverage profile and capital structure and assists investors in performing analysis that is consistent with financial models developed by Company management and research analysts. \u201cAdjusted Net (Cash) Debt\u201d and \u201cAdjusted Invested Capital\u201d are both non-GAAP financial measures. Additionally, these non-GAAP measures may vary among companies and may not be comparable to similarly titled non-GAAP measures used by other companies.<\/p>\n<p align=\"justify\">\n        <em>Contact: <\/em>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<br \/>Rush Enterprises, Inc., San Antonio <br \/>Steven L. Keller, 830-302-5226<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODI4Mzc2MiM0MzA2MzIxIzIwMjc4MDE=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/c1818973-1677-4e8e-9de3-dfd89dfb925a\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Revenues of $1.316 billion, net income of $58.0 million Earnings per diluted share of $1.00 Absorption ratio 129.1% Strong financial results due largely to economic recovery; supply chain issues continue to impact aftermarket sales and new truck availability Board declares cash dividend of $0.19 per share of Class A and Class B common stock, increasing dividend by 5.6% over prior quarterly dividend SAN ANTONIO, July 20, 2021 (GLOBE NEWSWIRE) &#8212; Rush Enterprises, Inc. (NASDAQ: RUSHA &amp; RUSHB), which operates the largest network of commercial vehicle dealerships in North America, today announced that for the quarter ended June 30, 2021, the Company achieved revenues of $1.316 billion and net income of $58.0 million, or $1.00 per diluted share, compared with revenues &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/rush-enterprises-inc-reports-second-quarter-2021-results-announces-0-19-per-share-dividend\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Rush Enterprises, Inc. Reports Second Quarter 2021 Results, Announces $0.19 Per Share Dividend&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-515282","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Rush Enterprises, Inc. Reports Second Quarter 2021 Results, Announces $0.19 Per Share Dividend - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/rush-enterprises-inc-reports-second-quarter-2021-results-announces-0-19-per-share-dividend\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rush Enterprises, Inc. Reports Second Quarter 2021 Results, Announces $0.19 Per Share Dividend - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Revenues of $1.316 billion, net income of $58.0 million Earnings per diluted share of $1.00 Absorption ratio 129.1% Strong financial results due largely to economic recovery; supply chain issues continue to impact aftermarket sales and new truck availability Board declares cash dividend of $0.19 per share of Class A and Class B common stock, increasing dividend by 5.6% over prior quarterly dividend SAN ANTONIO, July 20, 2021 (GLOBE NEWSWIRE) &#8212; Rush Enterprises, Inc. (NASDAQ: RUSHA &amp; RUSHB), which operates the largest network of commercial vehicle dealerships in North America, today announced that for the quarter ended June 30, 2021, the Company achieved revenues of $1.316 billion and net income of $58.0 million, or $1.00 per diluted share, compared with revenues &hellip; Continue reading &quot;Rush Enterprises, Inc. 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Reports Second Quarter 2021 Results, Announces $0.19 Per Share Dividend - Market Newsdesk","og_description":"Revenues of $1.316 billion, net income of $58.0 million Earnings per diluted share of $1.00 Absorption ratio 129.1% Strong financial results due largely to economic recovery; supply chain issues continue to impact aftermarket sales and new truck availability Board declares cash dividend of $0.19 per share of Class A and Class B common stock, increasing dividend by 5.6% over prior quarterly dividend SAN ANTONIO, July 20, 2021 (GLOBE NEWSWIRE) &#8212; Rush Enterprises, Inc. (NASDAQ: RUSHA &amp; RUSHB), which operates the largest network of commercial vehicle dealerships in North America, today announced that for the quarter ended June 30, 2021, the Company achieved revenues of $1.316 billion and net income of $58.0 million, or $1.00 per diluted share, compared with revenues &hellip; Continue reading \"Rush Enterprises, Inc. 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