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Segments
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segments SEGMENTS
As of December 31, 2024, we had two reportable segments: Vehicle Operations and Financing Operations. Our Vehicle Operations consists of all aspects of our auto merchandising and service operations, including our retail automotive, recreational vehicles, and motorcycle franchises that sell new vehicles, used vehicles, parts, repair and maintenance services, and vehicle F&I products. Vehicle Operations excludes financing provided by our Financing Operations. Our Financing Operations segment provides financing to customers buying and leasing retail vehicles from our Vehicle Operations.

All other remaining activity is reported under “Corporate and Other,” including corporate personnel costs, certain unallocated reserves, internal charges, and other unallocated corporate overhead expenses. Internal charges consist of corporate expense allocations which increase segment income for “Corporate and Other” while decreasing segment income for the other operating segments. These internal corporate expense allocations are used to increase comparability of our dealerships and reflect the capital burden a stand-alone dealership would experience. Examples of these internal allocations include internal rent expense, internal floor plan financing charges, and internal fees charged to offset team members within our corporate headquarters that perform certain dealership functions.

The reportable segments identified above represent our business activities for which discrete financial information is available and for which operating results are regularly provided and reviewed by our CODM to allocate resources and assess performance. Our CODM is our Chief Executive Officer. The CODM assesses segment performance using segment income, which is measured as net segment profit before taxes on a U.S. GAAP basis.

In 2024, we adopted ASU 2023-07 related to improvements to reportable segment disclosures. The update includes additional disclosure requirements to report significant segment expenses that are used by our CODM to assess performance, allocate resources, and deploy capital.

Total asset information by segment is not regularly provided to our CODM or utilized for purposes of assessing performance or allocating resources and, as a result, such information has not been presented below. Certain financing operations asset information including total managed receivables are used by the financing operations segment manager to manage operations and are included in various reports regularly provided to our CODM. See Note 5 – Finance Receivables.
Certain financial information including significant expense detail on a segment basis is as follows:
Year Ended December 31,
($ in millions)202420232022
Vehicle operations
Total revenue$36,188.2 $31,042.3 $28,187.8 
Total gross profit5,561.0 5,228.9 5,154.3 
Floor plan interest expense(278.8)(150.9)(38.8)
Personnel expense(2,056.0)(1,850.0)(1,897.3)
Rent and facility expense(701.2)(552.1)(466.7)
Advertising expense(277.4)(271.7)(270.3)
Other vehicle operations expenses1
(1,047.1)(808.8)(625.7)
Vehicle operations income1,200.5 1,595.4 1,855.5 
Financing operations
Interest and fee income347.8 249.4 116.3 
Interest expense(195.1)(170.5)(52.2)
Total interest margin152.7 78.9 64.1 
Lease income74.6 19.1 17.8 
Lease costs(60.3)(8.4)(9.5)
Lease income, net14.3 10.7 8.3 
Provision expense(106.7)(98.8)(44.4)
Other financing operations expenses2
(44.9)(36.7)(32.0)
Financing operations income (loss)
15.4 (45.9)(4.0)
Total segment income for reportable segments1,215.9 1,549.5 1,851.6 
Corporate and other3
326.5 187.8 213.9 
Depreciation and amortization(245.6)(195.8)(163.2)
Other interest expense(257.8)(201.2)(129.1)
Other income (expense), net39.3 22.0 (43.2)
Income before income taxes$1,078.3 $1,362.3 $1,730.0 
(1)Other vehicle operations expenses includes management fees, data processing fees, outside services fees, insurance expense, office and other supplies expense, banking expense, and certain overhead expenses.
(2)Other financing operations expenses includes personnel expense, data processing fees, outside services fees, expenses attributable to underwriting, funding, and loan servicing, and certain overhead expenses.
(3)Corporate and other includes management fee income.

The following table presents revenue and long-lived assets (all non-current assets except goodwill, franchise value, and other intangible assets) by geographic area:
Year Ended December 31,
($ in millions)
202420232022
Revenue from external customers:
United States$28,247.0 $27,979.6 $27,131.0 
United Kingdom6,788.5 1,904.6 — 
Canada1,152.8 1,158.1 1,056.8 
Total revenue from external customers$36,188.2 $31,042.3 $28,187.8 
Long-lived assets, net:
United States$10,129.6 $8,665.1 $6,837.7 
United Kingdom1,360.4 552.4 — 
Canada429.3 436.1 427.1 
Total long-lived assets$11,919.3 9,653.6 $7,264.8