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Note 7 - Segment Information
 6 Months Ended
Jun. 30, 2020
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 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, 2020 and 2019 (in thousands):

 

  

Truck
Segment

  

 

All Other

  

 

Total

 

As of and for the three months ended June 30, 2020

            

Revenues from external customers

 $998,739  $3,773  $1,002,512 

Segment operating income

  22,678   323   23,001 

Segment income before taxes

  22,260   252   22,512 

Segment assets

  3,021,241   43,360   3,064,601 

For the six months ended June 30, 2020

            

Revenues from external customers

 $2,282,118  $7,057  $2,289,175 

Segment operating income

  58,129   69   58,198 

Segment income before taxes

  54,253   (72)  54,181 
             

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