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Note 7 - Segment Information
 6 Months Ended
Jun. 30, 2021
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, 2021 and 2020 (in thousands):

 

  

Truck

Segment

  

All Other

  

Total

 

As of and for the three months ended June 30, 2021

            

Revenues from external customers

 $1,311,678  $4,337  $1,316,015 

Segment operating income

  72,163   628   72,791 

Segment income before taxes

  74,191   558   74,749 

Segment assets

  2,863,087   49,037   2,912,124 

For the six months ended June 30, 2021

            

Revenues from external customers

 $2,539,790  $8,031  $2,547,821 

Segment operating income

  128,113   903   129,016 

Segment income before taxes

  130,623   763   131,386 
             

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