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Note 7 - Segment Information
 9 Months Ended
Sep. 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 September 30, 2021 and 2020 (in thousands):

 

   

Truck

Segment

    

All Other

    

Total

  
                         

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

                        
                         

Revenues from external customers

   $ 1,261,885     $ 4,636     $ 1,266,521  

Segment operating income

     89,841       328       90,169  

Segment income before taxes

     91,595       254       91,849  

Segment assets

     2,722,614       54,715       2,777,329  
                         

For the nine months ended September 30, 2021

                        
                         

Revenues from external customers

   $ 3,801,675     $ 12,667     $ 3,814,342  

Segment operating income

     217,953       1,232       219,185  

Segment income before taxes

     222,218       1,017       223,235  
                         

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

                        
                         

Revenues from external customers

   $ 1,174,662     $ 3,906     $ 1,178,568  

Segment operating income

     42,714       154       42,868  

Segment income before taxes

     43,844       84       43,928  

Segment assets

     2,965,188       45,501       3,010,689  
                         

For the nine months ended September 30, 2020

                        
                         

Revenues from external customers

   $ 3,456,780     $ 10,963     $ 3,467,743  

Segment operating income

     100,842       224       101,066  

Segment income before taxes

     98,097       12       98,109