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Note 7 - Segment Information

6 Months Ended

Jun. 30, 2019

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

7 – Segment Information

The Company currently has one reportable business segment - the Truck Segment. The Truck Segment includes the Company’s operation of a nationwide network of commercial vehicle dealerships that provide an integrated one-stop source for the commercial vehicle needs of its customers, including retail sales of new and used commercial vehicles; aftermarket parts, service and collision center facilities; and a wide array of financial services, including the financing of new and used commercial vehicle purchases, insurance products and truck leasing and rentals. The commercial vehicle dealerships are deemed a single reporting unit because they have similar economic characteristics. The Company’s chief operating decision maker considers the entire Truck Segment, not individual dealerships or departments within its dealerships, when making decisions about resources to be allocated to the segment and assessing its performance.

The Company also has revenues attributable to three other operating segments. These segments include a retail tire company, an insurance agency and a guest ranch operation and are included in the All Other column below. None of these segments has ever met any of the quantitative thresholds for determining reportable segments.

The accounting policies of the segments are the same as those described in the summary of significant accounting policies. The Company evaluates performance based on income before income taxes, not including extraordinary items.

The following table contains summarized information about reportable segment revenues, segment income or loss from continuing operations and segment assets for the periods ended June 30, 2019 and 2018 (in thousands):

		Truck Segment				All Other				Total
As of and for the three months ended June 30, 2019
Revenues from external customers		$	1,540,237			$	4,324			$	1,544,561
Segment operating income			61,579				213				61,792
Segment income before taxes			54,269				141				54,410
Segment assets			3,490,254				40,441				3,530,695

For the six months ended June 30, 2019
Revenues from external customers		$	2,884,686			$	8,192			$	2,892,878
Segment operating income			118,321				338				118,659
Segment income before taxes			103,774				194				103,968

As of and for the three months ended June 30, 2018
Revenues from external customers		$	1,344,271			$	4,560			$	1,348,831
Segment operating income			43,126				300				43,426
Segment income before taxes			38,684				248				38,932
Segment assets			2,981,063				35,400				3,016,463

For the six months ended June 30, 2018
Revenues from external customers		$	2,580,924			$	8,688			$	2,589,612
Segment operating income			75,486				329				75,815
Segment income before taxes			66,787				228				67,015