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SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company has adopted ASU 2023-07, Segment Reporting (Topic 820): Improvements to Reportable Segment Disclosures, effective retrospectively for the year ended December 31, 2024. As a result of this adoption, the Company’s segment disclosure below now includes significant expense categories. The Company’s segment performance measure remains unchanged.
As of December 31, 2024, the Company had two operating and reportable segments: the U.S. and the U.K. The Company defines its segments as those operations whose results the Company’s Chief Executive Officer, who is the Chief Operating Decision Maker (“CODM”), regularly reviews to analyze performance and allocate resources at the U.S. and U.K. geographic areas. Each segment is comprised of retail automotive franchises that sell new and used cars and light trucks; arrange related vehicle financing; sell service and insurance contracts; provide automotive maintenance and repair services; and sell vehicle parts. The CODM uses income before income taxes predominantly in making decisions about the allocation of operating and capital resources to each segment, evaluating annual budget and forecast, as well as determining compensation for certain employees.
The accounting policies of the segments are the same as those described in the Company’s summary of accounting policies. All intercompany balances and transactions have been eliminated in consolidation. Refer to Note 1. Basis of Presentation, Consolidation and Summary of Accounting Policies for further discussion of the Company’s accounting policies.
Selected reportable segment data for continuing operations as follows (in millions):
Year Ended December 31, 2024
U.S.U.K.Total
Total revenues$15,772.9 

$4,161.5 $19,934.3 
Cost of sales$13,092.0 $3,601.3 $16,693.3 
SG&A expenses $1,704.0 

$475.2 $2,179.2 
Depreciation and amortization expense$88.2 $24.9 $113.1 
Asset impairments$33.0 $— $33.0 
Restructuring charges
$— $16.7 $16.7 
Other operating (income) expense
$(10.0)$— $(10.0)
Floorplan interest expense$88.8 $19.8 $108.5 
Other interest expense, net$124.8 $16.6 $141.3 
Other segment items (1)
$— $0.7 $0.7 
Income before income taxes $652.2 $6.3 $658.5 
Capital expenditures:
Real estate related capital expenditures$42.8 $23.1 $65.9 
Non-real estate related capital expenditures148.5 30.7 179.2 
Total capital expenditures$191.3 $53.7 $245.1 
Year Ended December 31, 2023
U.S.U.K.Total
Total revenues$14,814.2 $3,059.5 $17,873.7 
Cost of sales$12,204.1 $2,649.4 $14,853.4 
SG&A expenses $1,622.9 

$303.9 $1,926.8 
Depreciation and amortization expense$76.9 $15.1 $92.0 
Asset impairments$32.9 $— $32.9 
Floorplan interest expense$53.5 $10.6 $64.1 
Other interest expense, net$91.4 $8.4 $99.8 
Other segment items (1)
$0.4 $4.1 $4.5 
Income before income taxes $732.1 $68.1 $800.2 
Capital expenditures:
Real estate related capital expenditures$41.5 $4.7 $46.3 
Non-real estate related capital expenditures114.6 24.5 139.2 
Total capital expenditures$156.2 $29.3 $185.4 
Year Ended December 31, 2022
U.S.U.K.Total
Total revenues$13,427.1 $2,795.1 $16,222.1 
Cost of sales$10,844.7 $2,412.2 $13,256.9 
SG&A expenses $1,516.9 

$266.5 $1,783.3 
Depreciation and amortization expense$73.1 $15.2 $88.4 
Asset impairments$2.1 $— $2.1 
Floorplan interest expense$21.4 $5.9 $27.3 
Other interest expense, net$71.0 $6.6 $77.5 
Other segment items (1)
$0.4 $0.8 $1.2 
Income before income taxes $897.4 $87.9 $985.3 
Capital expenditures:
Real estate related capital expenditures$17.7 $22.0 $39.6 
Non-real estate related capital expenditures100.2 15.3 115.5 
Total capital expenditures$117.8 $37.3 $155.1 
(1) Other segment items include other expenses, which primarily relate to currency translation losses.
December 31, 2024
U.S.U.K.Total
Property and equipment, net$2,181.9 $674.6 $2,856.5 
Total assets$7,630.1 $2,176.6 $9,806.6 
December 31, 2023
U.S.U.K.Total
Property and equipment, net$1,915.2 $333.5 $2,248.7 
Total assets$6,665.7 $1,086.6 $7,752.3 
Refer to Note 13. Intangible Franchise Rights and Goodwill for further discussion of the Company’s intangible franchise rights and goodwill by segment.