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Segment Information | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Segment Information | SEGMENT INFORMATION At December 31, 2024, we had four reportable segments: (1) Domestic, (2) Import, (3) Premium Luxury, and (4) AutoNation Finance. Our Domestic segment is comprised of retail automotive franchises that sell new vehicles manufactured by Ford, General Motors, and Stellantis. Our Import segment is comprised of retail automotive franchises that sell new vehicles manufactured primarily by Toyota, Honda, Hyundai, Subaru, and Nissan. Our Premium Luxury segment is comprised of retail automotive franchises that sell new vehicles manufactured primarily by Mercedes-Benz, BMW, Lexus, Audi, and Jaguar Land Rover. The franchises in each of our Domestic, Import, and Premium Luxury segments also sell used vehicles, parts and automotive services, and automotive finance and insurance products. Our AutoNation Finance segment is comprised of our captive auto finance company, which provides indirect financing to qualified retail customers on vehicles we sell. “Corporate and other” is comprised of our non-franchised businesses, including AutoNation USA used vehicle stores, collision centers, parts distribution centers, auction operations, and our mobile automotive repair and maintenance business, all of which generate revenues but do not meet the quantitative thresholds for reportable segments, as well as unallocated corporate overhead expenses and other income items. The reportable segments identified above are the business activities of the Company for which discrete financial information is available and for which operating results are regularly reviewed by our chief operating decision maker to allocate resources and assess performance. Our chief operating decision maker for each of our reportable segments is our Chief Executive Officer. For the Domestic, Import, and Premium Luxury segments, the chief operating decision maker uses operating income less floorplan expense to assess performance and allocate resources to each segment. Our chief operating decision maker uses AutoNation Finance Income (Loss) to assess performance and allocate resources to the AutoNation Finance segment. The following tables provide segment revenues and segment expenses that align with the segment-level information that is regularly provided to the chief operating decision maker, as well as a reconciliation of reportable segment income to our income from continuing operations before income taxes:
|  | Year Ended December 31, 2024
|  | Domestic |  | Import |  | Premium Luxury |  | AutoNation Finance |  | Total
Revenues from external customers:(1) |  |  |  |  |  |  |  |  |  |
Franchised dealerships |  | $ | 7,140.3 |  |  | $ | 8,156.9 |  |  | $ | 10,139.9 |  |  |  |  | $ | 25,437.1 |
Corporate and other |  |  |  |  |  |  |  |  |  | 1,328.3 |
Total consolidated revenues |  |  |  |  |  |  |  |  |  | 26,765.4 |
Less segment expenses: |  |  |  |  |  |  |  |  |  |
Cost of sales: |  |  |  |  |  |  |  |  |  |
New vehicle |  | 3,389.2 |  |  | 4,066.2 |  |  | 4,816.8 |  |  |  |  |
Used vehicle |  | 1,963.9 |  |  | 2,029.9 |  |  | 2,685.2 |  |  |  |  |
Parts and service |  | 632.1 |  |  | 609.5 |  |  | 784.2 |  |  |  |  |
Other |  | 5.6 |  |  | 13.7 |  |  | 0.1 |  |  |  |  |
Total cost of sales |  | 5,990.8 |  |  | 6,719.3 |  |  | 8,286.3 |  |  |  |  |
Selling, general and administrative expenses: |  |  |  |  |  |  |  |  |  |
Compensation |  | 497.2 |  |  | 575.8 |  |  | 648.4 |  |  |  |  |
Advertising |  | 68.7 |  |  | 83.8 |  |  | 54.8 |  |  |  |  |
Store overhead |  | 200.5 |  |  | 217.7 |  |  | 306.5 |  |  |  |  |
Total selling, general, and administrative expenses |  | 766.4 |  |  | 877.3 |  |  | 1,009.7 |  |  |  |  |
Depreciation and amortization |  | 44.3 |  |  | 43.9 |  |  | 79.6 |  |  |  |  |
Floorplan interest expense |  | 84.0 |  |  | 39.9 |  |  | 88.7 |  |  |  |  |
Other income(2) |  | (0.1) |  |  | (0.1) |  |  | (0.1) |  |  |  |  |
Franchised dealerships - segment income |  | $ | 254.9 |  |  | $ | 476.6 |  |  | $ | 675.7 |  |  |  |  | 1,407.2 |
AutoNation Finance: |  |  |  |  |  |  |  |  |  |
Interest fee income |  |  |  |  |  |  |  | 118.4 |  |  |
Interest expense |  |  |  |  |  |  |  | (39.8) |  |  |
Provision for credit losses |  |  |  |  |  |  |  | (57.5) |  |  |
Direct expenses(3) |  |  |  |  |  |  |  | (37.8) |  |  |
Gain on sale of auto loans receivable |  |  |  |  |  |  |  | 7.4 |  |  |
AutoNation Finance income (loss) |  |  |  |  |  |  |  | $ | (9.3) |  |  | (9.3) |
Corporate and other |  |  |  |  |  |  |  |  |  | (311.3) |
Other interest expense |  |  |  |  |  |  |  |  |  | (179.7) |
Other income, net |  |  |  |  |  |  |  |  |  | 9.8 |
Income from continuing operations before income taxes |  |  |  |  |  |  |  |  |  | $ | 916.7 |
(1) See Note 2 of the Notes to Consolidated Financial Statements for detail of revenue by segment.
(2) Other income includes net gains on asset dispositions and legal settlements.
(3) Direct expenses are comprised primarily of compensation expense and loan administration costs incurred by our auto finance company.
|  | Year Ended December 31, 2023
|  | Domestic |  | Import |  | Premium Luxury |  | AutoNation Finance |  | Total
Revenues from external customers:(1) |  |  |  |  |  |  |  |  |  |
Franchised dealerships |  | $ | 7,573.2 |  |  | $ | 7,880.9 |  |  | $ | 10,266.4 |  |  |  |  | $ | 25,720.5 |
Corporate and other |  |  |  |  |  |  |  |  |  | 1,228.4 |
Total consolidated revenues |  |  |  |  |  |  |  |  |  | 26,948.9 |
Less segment expenses: |  |  |  |  |  |  |  |  |  |
Cost of sales: |  |  |  |  |  |  |  |  |  |
New vehicle |  | 3,301.6 |  |  | 3,644.3 |  |  | 4,759.6 |  |  |  |  |
Used vehicle |  | 2,303.5 |  |  | 2,073.3 |  |  | 2,803.3 |  |  |  |  |
Parts and service |  | 667.4 |  |  | 591.9 |  |  | 752.1 |  |  |  |  |
Other |  | 1.5 |  |  | 24.3 |  |  | 1.0 |  |  |  |  |
Total cost of sales |  | 6,274.0 |  |  | 6,333.8 |  |  | 8,316.0 |  |  |  |  |
Selling, general and administrative expenses: |  |  |  |  |  |  |  |  |  |
Compensation |  | 515.2 |  |  | 578.6 |  |  | 646.2 |  |  |  |  |
Advertising |  | 65.6 |  |  | 76.1 |  |  | 55.0 |  |  |  |  |
Store overhead |  | 202.2 |  |  | 196.8 |  |  | 281.9 |  |  |  |  |
Total selling, general, and administrative expenses |  | 783.0 |  |  | 851.5 |  |  | 983.1 |  |  |  |  |
Depreciation and amortization |  | 43.6 |  |  | 39.2 |  |  | 76.9 |  |  |  |  |
Floorplan interest expense |  | 57.3 |  |  | 21.5 |  |  | 53.9 |  |  |  |  |
Other income(2) |  | (0.1) |  |  | (0.1) |  |  | — |  |  |  |  |
Franchised dealerships - segment income |  | $ | 415.4 |  |  | $ | 635.0 |  |  | $ | 836.5 |  |  |  |  | 1,886.9 |
AutoNation Finance: |  |  |  |  |  |  |  |  |  |
Interest fee income |  |  |  |  |  |  |  | 84.0 |  |  |
Interest expense |  |  |  |  |  |  |  | (20.8) |  |  |
Provision for credit losses |  |  |  |  |  |  |  | (45.9) |  |  |
Direct expenses(3) |  |  |  |  |  |  |  | (39.3) |  |  |
Gain on sale of auto loans receivable |  |  |  |  |  |  |  | 8.1 |  |  |
AutoNation Finance income (loss) |  |  |  |  |  |  |  | $ | (13.9) |  |  | (13.9) |
Corporate and other |  |  |  |  |  |  |  |  |  | (365.8) |
Other interest expense |  |  |  |  |  |  |  |  |  | (181.4) |
Other income, net |  |  |  |  |  |  |  |  |  | 24.4 |
Income from continuing operations before income taxes |  |  |  |  |  |  |  |  |  | $ | 1,350.2 |
(1) See Note 2 of the Notes to Consolidated Financial Statements for detail of revenue by segment.
(2) Other income includes net gains on asset dispositions and legal settlements.
(3) Direct expenses are comprised primarily of compensation expense and loan administration costs incurred by our auto finance company.
|  | Year Ended December 31, 2022
|  | Domestic |  | Import |  | Premium Luxury |  | AutoNation Finance |  | Total
Revenues from external customers:(1) |  |  |  |  |  |  |  |  |  |
Franchised dealerships |  | $ | 7,987.5 |  |  | $ | 7,690.3 |  |  | $ | 10,278.1 |  |  |  |  | $ | 25,955.9 |
Corporate and other |  |  |  |  |  |  |  |  |  | 1,029.1 |
Total consolidated revenues |  |  |  |  |  |  |  |  |  | 26,985.0 |
Less segment expenses: |  |  |  |  |  |  |  |  |  |
Cost of sales: |  |  |  |  |  |  |  |  |  |
New vehicle |  | 3,094.3 |  |  | 3,054.3 |  |  | 4,239.5 |  |  |  |  |
Used vehicle |  | 2,878.2 |  |  | 2,486.8 |  |  | 3,311.6 |  |  |  |  |
Parts and service |  | 621.7 |  |  | 549.7 |  |  | 705.3 |  |  |  |  |
Other |  | 1.7 |  |  | 18.2 |  |  | 2.9 |  |  |  |  |
Total cost of sales |  | 6,595.9 |  |  | 6,109.0 |  |  | 8,259.3 |  |  |  |  |
Selling, general and administrative expenses: |  |  |  |  |  |  |  |  |  |
Compensation |  | 535.2 |  |  | 576.8 |  |  | 668.0 |  |  |  |  |
Advertising |  | 50.7 |  |  | 61.1 |  |  | 38.0 |  |  |  |  |
Store overhead |  | 188.3 |  |  | 168.9 |  |  | 253.9 |  |  |  |  |
Total selling, general, and administrative expenses |  | 774.2 |  |  | 806.8 |  |  | 959.9 |  |  |  |  |
Depreciation and amortization |  | 39.1 |  |  | 35.6 |  |  | 74.9 |  |  |  |  |
Floorplan interest expense |  | 14.4 |  |  | 4.8 |  |  | 15.0 |  |  |  |  |
Other income(2) |  | (1.4) |  |  | (0.1) |  |  | (0.1) |  |  |  |  |
Franchised dealerships - segment income |  | $ | 565.3 |  |  | $ | 734.2 |  |  | $ | 969.1 |  |  |  |  | 2,268.6 |
AutoNation Finance: |  |  |  |  |  |  |  |  |  |
Interest fee income |  |  |  |  |  |  |  | 20.6 |  |  |
Interest expense |  |  |  |  |  |  |  | (4.7) |  |  |
Provision for credit losses |  |  |  |  |  |  |  | (44.0) |  |  |
Direct expenses(3) |  |  |  |  |  |  |  | (9.5) |  |  |
AutoNation Finance income (loss) |  |  |  |  |  |  |  | $ | (37.6) |  |  | (37.6) |
Corporate and other |  |  |  |  |  |  |  |  |  | (247.9) |
Other interest expense |  |  |  |  |  |  |  |  |  | (134.9) |
Other loss, net |  |  |  |  |  |  |  |  |  | (14.7) |
Income from continuing operations before income taxes |  |  |  |  |  |  |  |  |  | $ | 1,833.5 |
(1) See Note 2 of the Notes to Consolidated Financial Statements for detail of revenue by segment.
(2) Other income includes net gains on asset dispositions and legal settlements.
(3) Direct expenses are comprised primarily of compensation expense and loan administration costs incurred by our auto finance company.
The following tables provide information on floorplan interest expense, depreciation and amortization, capital expenditures, and total assets:
|  | Year Ended December 31, 2024
|  | Domestic |  | Import |  | Premium Luxury |  | AutoNation Finance |  | Corporate and other |  | Total
Floorplan interest expense |  | $ | 84.0 |  |  | $ | 39.9 |  |  | $ | 88.7 |  |  | $ | — |  |  | $ | 6.3 |  |  | $ | 218.9 |
Depreciation and amortization |  | $ | 44.3 |  |  | $ | 43.9 |  |  | $ | 79.6 |  |  | $ | — |  |  | $ | 72.9 |  |  | $ | 240.7 |
Capital expenditures(1) |  | $ | 46.5 |  |  | $ | 85.7 |  |  | $ | 56.8 |  |  | $ | 1.1 |  |  | $ | 117.9 |  |  | $ | 308.0 |
Segment assets(2) |  | $ | 2,407.8 |  |  | $ | 2,184.8 |  |  | $ | 3,829.9 |  |  | $ | 1,118.3 |  |  | $ | 3,460.9 |  |  | $ | 13,001.7 |
|  | Year Ended December 31, 2023
|  | Domestic |  | Import |  | Premium Luxury |  | AutoNation Finance |  | Corporate and other |  | Total
Floorplan interest expense |  | $ | 57.3 |  |  | $ | 21.5 |  |  | $ | 53.9 |  |  | $ | — |  |  | $ | 12.0 |  |  | $ | 144.7 |
Depreciation and amortization |  | $ | 43.6 |  |  | $ | 39.2 |  |  | $ | 76.9 |  |  | $ | — |  |  | $ | 60.8 |  |  | $ | 220.5 |
Capital expenditures(1) |  | $ | 102.0 |  |  | $ | 106.6 |  |  | $ | 69.4 |  |  | $ | 0.5 |  |  | $ | 137.5 |  |  | $ | 416.0 |
Segment assets(2) |  | $ | 2,507.7 |  |  | $ | 2,034.6 |  |  | $ | 3,506.8 |  |  | $ | 430.5 |  |  | $ | 3,500.4 |  |  | $ | 11,980.0 |
|  | Year Ended December 31, 2022
|  | Domestic |  | Import |  | Premium Luxury |  | AutoNation Finance |  | Corporate and other |  | Total
Floorplan interest expense |  | $ | 14.4 |  |  | $ | 4.8 |  |  | $ | 15.0 |  |  | $ | — |  |  | $ | 7.2 |  |  | $ | 41.4 |
Depreciation and amortization |  | $ | 39.1 |  |  | $ | 35.6 |  |  | $ | 74.9 |  |  | $ | — |  |  | $ | 50.7 |  |  | $ | 200.3 |
Capital expenditures(1) |  | $ | 32.8 |  |  | $ | 70.1 |  |  | $ | 126.5 |  |  | $ | 0.1 |  |  | $ | 106.7 |  |  | $ | 336.2 |
Segment assets(2) |  | $ | 1,974.3 |  |  | $ | 1,555.6 |  |  | $ | 2,996.8 |  |  | $ | 337.8 |  |  | $ | 3,195.2 |  |  | $ | 10,059.7 |
(1) Includes accrued construction in progress and excludes property associated with leases entered during the year.
(2) “Corporate and other” assets include goodwill and franchise rights.

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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/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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