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Note 12 - Segments | 6 Months Ended
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Jun. 30, 2015
Segment Reporting [Abstract] |
Segment Reporting Disclosure [Text Block] | Note 12. Segments While we have determined that each individual store is an operating segment, we have aggregated our operating segments into three reportable segments based on their economic similarities: Domestic, Import and Luxury. Our Domestic segment is comprised of retail automotive franchises that sell new vehicles manufactured by Chrysler, General Motors and Ford. Our Import segment is comprised of retail automotive franchises that sell new vehicles manufactured primarily by Honda, Toyota, Subaru, Nissan and Volkswagen. Our Luxury segment is comprised of retail automotive franchises that sell new vehicles manufactured primarily by BMW, Mercedes-Benz and Lexus. The franchises in each segment also sell used vehicles, parts and automotive services, and automotive finance and insurance products. Corporate and other is comprised of our stand-alone collision center; unallocated corporate overhead expenses, such as corporate personnel costs, certain interest expense and depreciation expense, and retrospective commissions for certain finance and insurance transactions that we arrange under agreements with third parties. We define our chief operating decision maker (“CODM”) to be certain members of our executive management group. Historical and forecasted operational performance is evaluated on a store-by-store basis and on a consolidated basis by the CODM. We derive the operating results of the segments directly from our internal management reporting system. The accounting policies used to derive segment results are substantially the same as those used to determine our consolidated results. Management measures the performance of each operating segment based on several metrics, including earnings from operations. Management uses these results, in part, to evaluate the performance of, and to allocate resources to, each of the operating segments. Certain financial information on a segment basis is as follows (in thousands):
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2015 |  |  | 2014 |  |  | 2015 |  |  | 2014 |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Domestic |  | $ | 768,989 |  |  | $ | 641,378 |  |  | $ | 1,460,393 |  |  | $ | 1,210,308 |
Import |  |  | 853,444 |  |  |  | 394,924 |  |  |  | 1,612,082 |  |  |  | 745,985 |
Luxury |  |  | 372,369 |  |  |  | 185,826 |  |  |  | 709,290 |  |  |  | 344,437 |
|  |  | 1,994,802 |  |  |  | 1,222,128 |  |  |  | 3,781,765 |  |  |  | 2,300,730 |
Corporate and other |  |  | 2,145 |  |  |  | (326 | ) |  |  | 4,360 |  |  |  | (822 | )
|  | $ | 1,996,947 |  |  | $ | 1,221,802 |  |  | $ | 3,786,125 |  |  | $ | 2,299,908 |
Segment income*: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Domestic |  | $ | 31,045 |  |  | $ | 25,288 |  |  | $ | 58,174 |  |  | $ | 47,710 |
Import |  |  | 25,904 |  |  |  | 14,768 |  |  |  | 42,005 |  |  |  | 24,033 |
Luxury |  |  | 9,515 |  |  |  | 5,832 |  |  |  | 15,414 |  |  |  | 8,017 |
|  |  | 66,464 |  |  |  | 45,888 |  |  |  | 115,593 |  |  |  | 79,760 |
Corporate and other |  |  | 9,175 |  |  |  | 11,186 |  |  |  | 18,102 |  |  |  | 18,018 |
Income from continuing operations before income taxes |  | $ | 75,639 |  |  | $ | 57,074 |  |  | $ | 133,695 |  |  | $ | 97,778 |
*Segment income is defined as operating income less floor plan interest expense.
Floor plan interest expense: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Domestic |  | $ | 4,932 |  |  | $ | 4,404 |  |  | $ | 9,669 |  |  | $ | 8,463 |
Import |  |  | 3,724 |  |  |  | 1,904 |  |  |  | 7,422 |  |  |  | 3,711 |
Luxury |  |  | 2,308 |  |  |  | 1,036 |  |  |  | 4,369 |  |  |  | 2,165 |
|  |  | 10,964 |  |  |  | 7,344 |  |  |  | 21,460 |  |  |  | 14,339 |
Corporate and other |  |  | (6,309 | ) |  |  | (4,129 | ) |  |  | (12,156 | ) |  |  | (8,140 | )
|  | $ | 4,655 |  |  | $ | 3,215 |  |  | $ | 9,304 |  |  | $ | 6,199 |
|  | June 30, 2015 |  |  | December 31, 2014 |
Total assets: |  |  |  |  |  |  |  |
Domestic |  | $ | 922,933 |  |  | $ | 831,574 |
Import |  |  | 711,944 |  |  |  | 696,162 |
Luxury |  |  | 422,318 |  |  |  | 405,222 |
Corporate and other |  |  | 947,660 |  |  |  | 947,974 |
|  | $ | 3,004,855 |  |  | $ | 2,880,932 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599 + Details
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