XML 63 R23.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Segement Information Segment Information | 9 Months Ended
--- | ---
Sep. 30, 2014
Segment Reporting [Abstract] |
Segment Information | SEGMENT INFORMATION As of September 30, 2014, the Company had three reportable segments: (1) the U.S., (2) the U.K., and (3) Brazil. Each of the reportable segments is comprised of retail automotive franchises, which sell new vehicles, used vehicles, parts and automotive services, finance and insurance products, and collision centers. The vast majority of the Company's corporate activities are associated with the operations of the U.S. operating segments and therefore the corporate financial results are included within the U.S. reportable segment. 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 its chief operating decision maker to allocate resources and assess performance. The Company's chief operating decision maker is its Chief Executive Officer. Reportable segment revenue, income (loss) before income taxes, provision for income taxes and net income (loss) were as follows for the three and nine months ended September 30, 2014 and 2013:
| Three Months Ended September 30, 2014 |  | Nine Months Ended September 30, 2014
| U.S. |  | U.K. |  | Brazil |  | Total |  | U.S. |  | U.K. |  | Brazil |  | Total
| (In thousands)
Total revenues | $ | 2,175,605 |  |  | $ | 252,201 |  |  | $ | 198,642 |  |  | $ | 2,626,448 |  |  | $ | 6,070,827 |  |  | $ | 751,226 |  |  | $ | 576,896 |  |  | $ | 7,398,949 |
Income (loss) before income taxes | 43,146 |  |  | 5,840 |  |  | (5,117 | ) |  | 43,869 |  |  | 123,474 |  |  | 15,974 |  |  | (8,172 | ) |  | 131,276 |
(Provision) benefit for income taxes | (20,375 | ) |  | (1,159 | ) |  | 3,827 |  |  | (17,707 | ) |  | (57,439 | ) |  | (2,814 | ) |  | 3,304 |  |  | (56,949 | )
Net income (loss) (1) | 22,771 |  |  | 4,681 |  |  | (1,290 | ) |  | 26,162 |  |  | 66,035 |  |  | 13,160 |  |  | (4,868 | ) |  | 74,327 |
(1) Includes the following, after tax: loss due to extinguishment of long-term debt of $17.9 million and $38.7 million for the three and nine months ended September 30, 2014, respectively, in the U.S. segment; asset impairment charges of $2.6 million and $3.6 million for the three and nine months ended September 30, 2014, respectively, in the U.S. segment, and $4.0 million for the three and nine months ended September 30, 2014, in the Brazil segment; gain on real estate and dealership transactions of $8.6 million and $8.9 million for the three and nine months ended September 30, 2014, respectively, in the U.S. segment; and the tax benefit of deductible goodwill of $3.4 million for the three and nine months ended September 30, 2014 in the Brazil segment.
| Three Months Ended September 30, 2013 |  | Nine Months Ended September 30, 2013
| U.S. |  | U.K. |  | Brazil |  | Total |  | U.S. |  | U.K. |  | Brazil (3) |  | Total
| (In thousands)
Total revenues | $ | 1,889,378 |  |  | $ | 234,914 |  |  | $ | 215,855 |  |  | $ | 2,340,147 |  |  | $ | 5,492,819 |  |  | $ | 613,428 |  |  | $ | 532,842 |  |  | $ | 6,639,089 |
Income before income taxes | 47,332 |  |  | 4,514 |  |  | 434 |  |  | 52,280 |  |  | 139,111 |  |  | 10,355 |  |  | 2,241 |  |  | 151,707 |
Provision for income taxes | (18,369 | ) |  | (907 | ) |  | (239 | ) |  | (19,515 | ) |  | (56,475 | ) |  | (2,260 | ) |  | (701 | ) |  | (59,436 | )
Net income (2) | 28,963 |  |  | 3,607 |  |  | 195 |  |  | 32,765 |  |  | 82,636 |  |  | 8,095 |  |  | 1,540 |  |  | 92,271 |
(2) Includes the following, after tax: loss due to catastrophic events of $0.2 million and $7.4 million for the three and nine months ended September 2013, respectively, in the U.S. segment; gain on real estate and dealership transactions of $0.2 million and $5.4 million for the three and nine months ended September 2013, respectively, in the U.S. segment; and acquisition costs of $4.9 million, $0.1 million and $1.3 million in the U.S., U.K. and Brazil segments, respectively, for the nine months ended September 30, 2013. (3) Represents financial data from date of acquisition on February 28, 2013.
| As of September 30, 2014
| U.S. |  | U.K. |  | Brazil |  | Total
| (In thousands)
Total assets | $ | 3,362,758 |  |  | $ | 279,299 |  |  | $ | 320,452 |  |  | $ | 3,962,509 |
| As of December 31, 2013
| U.S. |  | U.K. |  | Brazil |  | Total
| (In thousands)
Total assets | $ | 3,241,192 |  |  | $ | 237,960 |  |  | $ | 340,326 |  |  | $ | 3,819,478 |

X
- Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: 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=6534315&loc=d3e8933-108599 Reference 3: 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=6534315&loc=d3e8844-108599 Reference 4: 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=6534315&loc=d3e8538-108599 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=6534315&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 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: 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=6534315&loc=d3e8984-108599 Reference 8: 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=6534315&loc=d3e9038-108599 Reference 9: 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=6534315&loc=d3e8906-108599 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=6534315&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 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: 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=6534315&loc=d3e9031-108599 Reference 13: 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=6534315&loc=d3e8971-108599 Reference 14: 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=6534315&loc=d3e8595-108599 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration