Segments and Other Geographic Reporting Segment Reporting

9 Months Ended

Apr. 30, 2019

Segment Reporting Disclosure [Text Block]

NOTE 12 – Segments and Other Geographic Reporting

The Company’s U.S. and International regions are considered two separate operating segments and are disclosed as two reportable segments. The segments represent geographic areas and reflect how the chief operating decision maker allocates resources and measures results, including total revenues, operating income and income before income taxes. Intercompany income (expense) is primarily related to charges for services provided by the U.S. segment.

The following table presents financial information by segment:



	Three Months Ended April 30, 2019									Three Months Ended April 30, 2018
(In thousands)	United States			International			Total			United States			International			Total
Service revenues	$	416,874		$	56,808		$	473,682		$	356,252		$	54,510		$	410,762
Vehicle sales	31,325			48,109			79,434			29,029			38,407			67,436
Total service revenues and vehicle sales	448,199			104,917			553,116			385,281			92,917			478,198
Yard operations	194,228			36,325			230,553			170,637			30,955			201,592
Cost of vehicle sales	29,032			41,952			70,984			27,456			30,082			57,538
General and administrative	36,681			7,404			44,085			36,300			8,149			44,449
Operating income	188,258			19,236			207,494			150,888			23,731			174,619
Interest (expense) income, net	(5,198		)	114			(5,084		)	(4,765		)	631			(4,134		)
Other income (expense), net	1,068			651			1,719			(52		)	783			731
Intercompany income (expense)	1,867			(1,867		)	—			1,757			(1,757		)	—
Income before income taxes	185,995			18,134			204,129			147,828			23,388			171,216
Income tax expense	7,274			4,114			11,388			39,366			4,445			43,811
Net income	$	178,721		$	14,020		$	192,741		$	108,462		$	18,943		$	127,405

Depreciation and amortization	$	18,636		$	2,476		$	21,112		$	14,189		$	2,384		$	16,573
Capital expenditures, including acquisitions	107,569			15,785			123,354			57,028			20,672			77,700



	Nine Months Ended April 30, 2019									Nine Months Ended April 30, 2018
(In thousands)	United States			International			Total			United States			International			Total
Service revenues	$	1,122,470		$	162,825		$	1,285,295		$	1,043,185		$	143,656		$	1,186,841
Vehicle sales	87,010			127,077			214,087			78,336			91,295			169,631
Total service revenues and vehicle sales	1,209,480			289,902			1,499,382			1,121,521			234,951			1,356,472
Yard operations	553,205			100,502			653,707			552,848			83,535			636,383
Cost of vehicle sales	81,858			108,094			189,952			75,010			71,138			146,148
General and administrative	110,465			21,585			132,050			103,746			20,687			124,433
Operating income	463,952			59,721			523,673			389,917			59,591			449,508
Interest (expense) income, net	(13,686		)	356			(13,330		)	(15,881		)	788			(15,093		)
Other income (expense), net	6,367			1,171			7,538			(4,653		)	20			(4,633		)
Intercompany income (expense)	5,209			(5,209		)	—			5,243			(5,243		)	—
Income before income taxes	461,842			56,039			517,881			374,626			55,156			429,782
Income tax expense	70,539			9,145			79,684			110,628			10,888			121,516
Net income	$	391,303		$	46,894		$	438,197		$	263,998		$	44,268		$	308,266

Depreciation and amortization	$	55,905		$	7,475		$	63,380		$	41,772		$	8,574		$	50,346
Capital expenditures, including acquisitions	209,723			50,358			260,081			152,737			35,745			188,482



	April 30, 2019						July 31, 2018
(In thousands)	United States		International		Total		United States		International		Total
Total assets	$	1,935,621	$	456,142	$	2,391,763	$	1,856,058	$	451,640	$	2,307,698
Goodwill	256,997		80,728		337,725		256,434		80,801		337,235