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SEGMENTS (Tables)

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Schedule of Certain Information on a Segment Basis

Certain financial information on a segment basis is as follows:

						Three Months Ended September 30,												Nine Months Ended September 30,
(in millions)						2022						2021						2022						2021
Revenues:
Domestic
New vehicle retail						$	1,078.3					$	766.1					$	3,083.1					$	2,305.3
Used vehicle retail						832.9						699.7						2,418.7						1,803.7
Used vehicle wholesale						115.4						74.5						376.3						174.4
Finance and insurance						98.9						80.5						284.6						217.7
Service, body and parts						206.7						170.2						597.5						450.0
Fleet and other						69.7						28.2						182.0						67.4
						2,401.9						1,819.2						6,942.2						5,018.5
Import
New vehicle retail						1,389.0						1,376.9						4,022.9						3,730.7
Used vehicle retail						1,015.5						847.9						2,920.9						2,127.8
Used vehicle wholesale						112.7						99.5						361.2						247.8
Finance and insurance						178.9						162.9						532.3						408.9
Service, body and parts						292.1						235.3						802.5						596.9
Fleet and other						12.7						4.9						27.6						37.5
						3,000.9						2,727.4						8,667.4						7,149.6
Luxury
New vehicle retail						840.3						750.9						2,513.2						2,204.1
Used vehicle retail						618.2						530.3						1,861.9						1,309.9
Used vehicle wholesale						92.1						72.8						300.5						171.9
Finance and insurance						61.2						56.1						187.2						145.7
Service, body and parts						200.3						162.8						580.3						434.7
Fleet and other						30.9						22.2						81.4						59.5
						1,843.0						1,595.1						5,524.5						4,325.8
						7,245.8						6,141.7						21,134.1						16,493.9
Corporate and other						49.9						28.1						107.2						28.3
						$	7,295.7					$	6,169.8					$	21,241.3					$	16,522.2
Segment income1:
Domestic						$	127.9					$	123.6					$	400.1					$	335.6
Import						261.5						255.4						782.8						573.2
Luxury						109.5						108.5						366.6						249.8
Total segment income for reportable segments						$	498.9					$	487.5					$	1,549.5					$	1,158.6

1Segment income for each of the segments is a Non-GAAP measure defined as Income from operations before income taxes, depreciation and amortization, other interest expense and other income, net.

Reconciliation of total segment income for reportable segments to our consolidated income before income taxes:

						Three Months Ended September 30,												Nine Months Ended September 30,
(in millions)						2022						2021						2022						2021
Total segment income for reportable segments						$	498.9					$	487.5					$	1,549.5					$	1,158.6
Corporate and other						55.4						22.8						117.6						80.1
Depreciation and amortization						(41.9)						(34.4)						(122.1)						(91.5)
Other interest expense						(49.6)						(28.0)						(114.1)						(79.6)
Other income (expense), net						(7.1)						(25.7)						(37.0)						(14.6)
Income before income taxes						$	455.7					$	422.2					$	1,393.9					$	1,053.0

Reconciliation of Assets from Segment to Consolidated

Total assets by reportable segments is as follows:

(in millions)						September 30, 2022						December 31, 2021
Total assets:
Domestic						$	2,504.1					$	1,574.7
Import						2,855.4						1,858.1
Luxury						2,007.3						1,407.1
Corporate and other						6,707.7						6,307.0
						$	14,074.5					$	11,146.9

X

- Definition

Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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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

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