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Segment Information Segment Information | 12 Months Ended
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Dec. 31, 2017
Segment Reporting [Abstract] |
Segment Reporting Disclosure [Text Block] | 20. SEGMENT INFORMATION As of December 31, 2017, 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 sells new and used cars and light trucks; arranges related vehicle financing; sells service insurance contracts; provides automotive maintenance and repair services; and sells vehicle parts. 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. Reportable segment revenue, gross profit, SG&A, depreciation and amortization expense, asset impairment, floorplan interest expense, other interest expense, benefit (provision) for income taxes, net income (loss) and capital expenditures were as follows for the years ended December 31, 2017, 2016 and 2015:
| Year Ended December 31, 2017 |
| U.S. |  | U.K. |  | Brazil |  | Total |
| (In thousands) |
New vehicle retail sales | $ | 4,768,864 |  |  | $ | 1,092,612 |  |  | $ | 296,055 |  |  | $ | 6,157,531 |  |
Used vehicle retail sales | 2,160,699 |  |  | 546,266 |  |  | 92,021 |  |  | 2,798,986 |  |
Used vehicle wholesale sales | 250,668 |  |  | 136,847 |  |  | 12,655 |  |  | 400,170 |  |
Parts and service | 1,124,380 |  |  | 165,755 |  |  | 47,897 |  |  | 1,338,032 |  |
Finance, insurance and other, net | 375,954 |  |  | 44,523 |  |  | 8,525 |  |  | 429,002 |  |
Total revenues | 8,680,565 |  | (1) | 1,986,003 |  |  | 457,153 |  |  | 11,123,721 |  |
Gross profit | 1,365,314 |  |  | 225,253 |  |  | 54,942 |  |  | 1,645,509 |  |
Selling, general and administrative expense | 983,974 |  | (2) | 191,570 |  |  | 50,651 |  |  | 1,226,195 |  |
Depreciation and amortization expense | 48,285 |  |  | 8,198 |  |  | 1,453 |  |  | 57,936 |  |
Asset impairment | 12,762 |  |  | — |  |  | 6,744 |  |  | 19,506 |  |
Floorplan interest expense | (47,221 | ) |  | (4,727 | ) |  | (424 | ) |  | (52,372 | ) |
Other interest expense, net | (66,493 | ) |  | (3,664 | ) |  | (340 | ) |  | (70,497 | ) |
Income (loss) before income taxes | 206,579 |  |  | 17,094 |  |  | (4,670 | ) |  | 219,003 |  |
(Provision) benefit for income taxes | (5,679 | ) | (3) | (2,142 | ) |  | 2,260 |  |  | (5,561 | ) |
Net income (loss) | 200,900 |  | (4) | 14,952 |  |  | (2,410 | ) | (5) | 213,442 |  |
Capital expenditures | $ | 77,477 |  |  | $ | 19,944 |  |  | $ | 880 |  |  | $ | 98,301 |  |
(1) Includes the impact of chargeback reserves for finance and insurance revenues associated with catastrophic events of $6.6 million. (2) Includes the following, pre-tax: gain on OEM settlement of $1.8 million and loss due to catastrophic events of $8.8 million. (3) Includes a tax benefit of $73.0 million associated with a reduction in the corporate income tax rate enacted in the Tax Act. (4) Includes the after-tax impact of the items noted above and the after-tax non-cash asset impairment charges of $8.0 million. (5) Includes after-tax non-cash asset impairment charges of $4.4 million.
| Year Ended December 31, 2016 |
| U.S. |  | U.K. |  | Brazil |  | Total |
| (In thousands) |
New vehicle retail sales | $ | 4,766,047 |  |  | $ | 987,538 |  |  | $ | 292,490 |  |  | $ | 6,046,075 |  |
Used vehicle retail sales | 2,242,508 |  |  | 434,203 |  |  | 81,002 |  |  | 2,757,713 |  |
Used vehicle wholesale sales | 276,710 |  |  | 121,747 |  |  | 3,406 |  |  | 401,863 |  |
Parts and service | 1,071,651 |  |  | 143,362 |  |  | 46,294 |  |  | 1,261,307 |  |
Finance, insurance and other, net | 377,756 |  |  | 36,305 |  |  | 6,593 |  |  | 420,654 |  |
Total revenues | 8,734,672 |  |  | 1,723,155 |  |  | 429,785 |  |  | 10,887,612 |  |
Gross profit | 1,355,349 |  |  | 192,982 |  |  | 46,738 |  |  | 1,595,069 |  |
Selling, general and administrative expense | 965,139 |  | (1) | 158,636 |  |  | 46,988 |  | (3) | 1,170,763 |  |
Depreciation and amortization expense | 43,472 |  |  | 6,594 |  |  | 1,168 |  |  | 51,234 |  |
Asset impairment | 21,794 |  |  | 201 |  |  | 10,843 |  |  | 32,838 |  |
Floorplan interest expense | (40,444 | ) |  | (4,222 | ) |  | (261 | ) |  | (44,927 | ) |
Other interest expense, net | (62,320 | ) |  | (5,197 | ) |  | (419 | ) |  | (67,936 | ) |
Income (loss) before income taxes | 222,180 |  |  | 18,132 |  |  | (12,941 | ) |  | 227,371 |  |
(Provision) benefit for income taxes | (82,541 | ) |  | (3,697 | ) |  | 5,932 |  |  | (80,306 | ) |
Net income (loss) | 139,639 |  | (2) | 14,435 |  |  | (7,009 | ) | (4) | 147,065 |  |
Capital expenditures | $ | 86,692 |  |  | $ | 12,602 |  |  | $ | 1,312 |  |  | $ | 100,606 |  |
(1) Includes the following, pre-tax: gain on OEM settlement of $11.7 million, loss due to catastrophic events of $5.9 million, a net gain on real estate and dealership transactions of $2.7 million, and severance costs of $1.8 million. (2) Includes the following, after tax: non-cash asset impairment charges of $13.5 million, gain on OEM settlement of $7.3 million, loss due to catastrophic events of $3.7 million, net gain on real estate and dealership transactions of $1.7 million, and severance costs of $1.2 million. (3) Includes pre-tax loss on real estate and dealership transactions of $0.8 million. (4) Includes after-tax non-cash asset impairment charges of $6.9 million and a foreign deferred income tax benefit of $1.7 million.
| Year Ended December 31, 2015 |
| U.S. |  | U.K. |  | Brazil |  | Total |
| (In thousands) |
New vehicle retail sales | $ | 4,989,290 |  |  | $ | 641,888 |  |  | $ | 370,128 |  |  | $ | 6,001,306 |  |
Used vehicle retail sales | 2,204,728 |  |  | 351,311 |  |  | 82,930 |  |  | 2,638,969 |  |
Used vehicle wholesale sales | 289,580 |  |  | 100,706 |  |  | 6,965 |  |  | 397,251 |  |
Parts and service | 1,032,960 |  |  | 102,183 |  |  | 51,050 |  |  | 1,186,193 |  |
Finance, insurance and other, net | 377,432 |  |  | 24,117 |  |  | 7,237 |  |  | 408,786 |  |
Total revenues | 8,893,990 |  |  | 1,220,205 |  |  | 518,310 |  |  | 10,632,505 |  |
Gross profit | 1,338,947 |  |  | 137,646 |  |  | 57,379 |  |  | 1,533,972 |  |
Selling, general and administrative expense | 958,608 |  | (1) | 108,719 |  |  | 53,506 |  |  | 1,120,833 |  |
Depreciation and amortization expense | 41,220 |  |  | 4,307 |  |  | 1,712 |  |  | 47,239 |  |
Asset impairment | 18,983 |  |  | 330 |  |  | 68,249 |  |  | 87,562 |  |
Floorplan interest expense | (36,062 | ) |  | (2,276 | ) |  | (926 | ) |  | (39,264 | ) |
Other interest expense, net | (52,277 | ) |  | (3,135 | ) |  | (1,491 | ) |  | (56,903 | ) |
Income before income taxes | 231,797 |  |  | 18,879 |  |  | (68,505 | ) |  | 182,171 |  |
(Provision) benefit for income taxes | (89,433 | ) |  | (3,655 | ) |  | 4,916 |  |  | (88,172 | ) |
Net income (loss) | 142,364 |  | (2) | 15,224 |  |  | (63,589 | ) | (3) | 93,999 |  |
Capital expenditures | $ | 97,504 |  |  | $ | 9,395 |  |  | $ | 333 |  |  | $ | 107,232 |  |
(1) Includes the following, pre-tax: loss due to catastrophic events of $1.6 million, a net gain on real estate and dealership transactions of $8.9 million, and legal items of $1.0 million. (2) Includes the following, after tax: loss due to catastrophic events of $1.0 million, net gain on real estate and dealership transactions of $5.5 million, and non-cash asset impairment charges of $12.0 million. (3) Includes after-tax non-cash asset impairment charges of $62.4 million. Goodwill and intangible franchise rights and total assets by reportable segment were as follows:
|  | As of December 31, 2017
|  | U.S. |  | U.K. |  | Brazil |  | Total
|  | (In thousands)
Goodwill and intangible franchise rights |  | $ | 1,091,248 |  |  | $ | 94,517 |  |  | $ | 12,901 |  |  | $ | 1,198,666 |
Total assets |  | $ | 4,087,039 |  |  | $ | 654,154 |  |  | $ | 129,872 |  |  | $ | 4,871,065 |
|  | As of December 31, 2016
|  | U.S. |  | U.K. |  | Brazil |  | Total
|  | (In thousands)
Goodwill and intangible franchise rights |  | $ | 1,066,469 |  |  | $ | 74,391 |  |  | $ | 20,779 |  |  | $ | 1,161,639 |
Total assets |  | $ | 3,855,701 |  |  | $ | 482,937 |  |  | $ | 123,265 |  |  | $ | 4,461,903 |

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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=68060357&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=68060357&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=68060357&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=68060357&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=68060357&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=68060357&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=68060357&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=68060357&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=68060357&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=68060357&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=68060357&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=68060357&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=68060357&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=68060357&loc=d3e8906-108599 + Details
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