XML 47 R35.htm IDEA: XBRL DOCUMENT
v3.25.1

Segment Information (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2025
Segment Reporting [Abstract] |
Revenues and segment income by reportable segment | The following table summarizes revenues; cost of sales; selling, general, and administrative expenses; depreciation; floor plan interest expense; other interest expense; equity in earnings of affiliates; and income before income taxes ("EBT"). EBT is the measure of segment performance by which management allocates resources to its segments and which we refer to as segment income, for each of our reportable segments. Our company's Chief Operating Decision Maker ("CODM") is our Chief Executive Officer. Our CODM uses segment income to evaluate the profitability of our reportable segments, which helps guide decisions on resource allocation. Segment income is also used to analyze budget versus actual results and actual results versus the comparable prior period. This analysis is utilized in assessing the performance of our reportable segments.
Three Months Ended March 31, |  |  |  |  |  |  |  |  |  |  |
| Retail Automotive |  | Retail Commercial Truck |  | Other |  | Non-Automotive Investments |  |  |  | Total
Revenues |  |  |  |  |  |  |  |  |  |  |
2025 | $ | 6,569.3 |  |  | $ | 823.7 |  |  | $ | 211.5 |  |  | $ | — |  |  |  |  | $ | 7,604.5 |
2024 | 6,478.0 |  |  | 791.8 |  |  | 178.0 |  |  | — |  |  |  |  | 7,447.8 |
Cost of sales |  |  |  |  |  |  |  |  |  |  |
2025 | $ | 5,485.5 |  |  | $ | 682.7 |  |  | $ | 167.3 |  |  | $ | — |  |  |  |  | $ | 6,335.5 |
2024 | 5,420.8 |  |  | 647.0 |  |  | 134.8 |  |  | — |  |  |  |  | 6,202.6 |
Selling, general, and administrative expenses: |  |  |  |  |  |  |  |  |  |  |
Personnel expenses |  |  |  |  |  |  |  |  |  |  |
2025 | $ | 446.8 |  |  | $ | 65.9 |  |  | $ | 18.8 |  |  | $ | — |  |  |  |  | $ | 531.5 |
2024 | 437.4 |  |  | 66.2 |  |  | 17.5 |  |  | — |  |  |  |  | 521.1 |
Advertising expenses |  |  |  |  |  |  |  |  |  |  |
2025 | $ | 28.8 |  |  | $ | 0.9 |  |  | $ | 0.3 |  |  | $ | — |  |  |  |  | $ | 30.0 |
2024 | 32.0 |  |  | 0.7 |  |  | 0.4 |  |  | — |  |  |  |  | 33.1 |
Rent & related expenses |  |  |  |  |  |  |  |  |  |  |
2025 | $ | 95.1 |  |  | $ | 6.6 |  |  | $ | 3.6 |  |  | $ | — |  |  |  |  | $ | 105.3 |
2024 | 93.4 |  |  | 6.5 |  |  | 3.6 |  |  | — |  |  |  |  | 103.5 |
Other expenses (1) |  |  |  |  |  |  |  |  |  |  |
2025 | $ | 225.4 |  |  | $ | 14.9 |  |  | $ | 6.5 |  |  | $ | — |  |  |  |  | $ | 246.8 |
2024 | 204.1 |  |  | 13.3 |  |  | 4.7 |  |  | — |  |  |  |  | 222.1 |
Depreciation |  |  |  |  |  |  |  |  |  |  |
2025 | $ | 34.6 |  |  | $ | 3.9 |  |  | $ | 1.4 |  |  | $ | — |  |  |  |  | $ | 39.9 |
2024 | 32.9 |  |  | 3.6 |  |  | 1.3 |  |  | — |  |  |  |  | 37.8 |
Floor plan interest expense |  |  |  |  |  |  |  |  |  |  |
2025 | $ | 35.5 |  |  | $ | 3.7 |  |  | $ | 2.3 |  |  | $ | — |  |  |  |  | $ | 41.5 |
2024 | 38.8 |  |  | 4.0 |  |  | 2.0 |  |  | — |  |  |  |  | 44.8 |
Other interest expense |  |  |  |  |  |  |  |  |  |  |
2025 | $ | 18.0 |  |  | $ | — |  |  | $ | 4.5 |  |  | $ | — |  |  |  |  | $ | 22.5 |
2024 | 21.2 |  |  | — |  |  | 0.1 |  |  | — |  |  |  |  | 21.3 |
Equity in earnings of affiliates |  |  |  |  |  |  |  |  |  |  |
2025 | $ | 0.3 |  |  | $ | — |  |  | $ | — |  |  | $ | 33.0 |  |  |  |  | $ | 33.3 |
2024 | 1.0 |  |  | — |  |  | — |  |  | 32.3 |  |  |  |  | 33.3 |
Segment income |  |  |  |  |  |  |  |  |  |  |
2025 (2) | $ | 252.2 |  |  | $ | 45.1 |  |  | $ | 6.8 |  |  | $ | 33.0 |  |  |  |  | $ | 337.1 |
2024 | 198.4 |  |  | 50.5 |  |  | 13.6 |  |  | 32.3 |  |  |  |  | 294.8 |
__________________________
(1)Other expenses within SG&A primarily consist of information technology expenses, customer service vehicle loaner expenses, vehicle delivery and preparation expenses, utility expenses, and various other miscellaneous expenses. These expenses are individually not significant to the performance of our segments and are not regularly used by the CODM on a disaggregated basis for purposes of evaluating segment profit or loss.
(2)Retail automotive segment income includes a gain of $52.3 million from the sale of one retail automotive franchise in the U.S.
Total capital expenditures by reportable segment are set forth in the table below. As segment assets are not regularly provided to or used by the CODM to measure business performance or allocate resources, total segment assets are not presented.
Three Months Ended March 31, |  |  |  |  |  |  |  |  |  |  |
| Retail Automotive |  | Retail Commercial Truck |  | Other |  | Non-Automotive Investments |  |  |  | Total
Capital expenditures |  |  |  |  |  |  |  |  |  |  |
2025 | $ | 57.9 |  |  | $ | 17.8 |  |  | $ | 0.9 |  |  | $ | — |  |  |  |  | $ | 76.6 |
2024 | 84.0 |  |  | 16.1 |  |  | 2.4 |  |  | — |  |  |  |  | 102.5 |

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration