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Segment Information | 3 Months Ended
--- | ---
Mar. 31, 2024
Segment Reporting [Abstract] |
Segment Information | Segment Information ASC 280, Segment Reporting, requires reporting of segment information that is consistent with the manner in which the chief operating decision maker operates and views the Company. Our operations are grouped into two operating segments: Marketplace and Finance, which also serve as our reportable business segments. These reportable business segments offer different services and have fundamental differences in their operations. Financial information regarding our reportable segments is set forth below as of and for the three months ended March 31, 2024 (in millions):
| Marketplace |  | Finance |  | Consolidated
Operating revenues | $ | 318.3 |  |  | $ | 98.0 |  |  | $ | 416.3 |
Operating expenses |  |  |  |  |
Cost of services (exclusive of depreciation and amortization) | 197.1 |  |  | 16.8 |  |  | 213.9 |
Selling, general and administrative | 94.8 |  |  | 13.9 |  |  | 108.7 |
Depreciation and amortization | 21.6 |  |  | 2.7 |  |  | 24.3 |
Total operating expenses | 313.5 |  |  | 33.4 |  |  | 346.9 |
Operating profit | 4.8 |  |  | 64.6 |  |  | 69.4 |
Interest expense | 7.1 |  |  | 32.6 |  |  | 39.7 |
Other (income) expense, net | 0.5 |  |  | — |  |  | 0.5 |
Intercompany expense (income) | 9.9 |  |  | (9.9) |  |  | — |
Income (loss) from continuing operations before income taxes | (12.7) |  |  | 41.9 |  |  | 29.2 |
Income taxes | 0.2 |  |  | 10.5 |  |  | 10.7 |
Income (loss) from continuing operations | $ | (12.9) |  |  | $ | 31.4 |  |  | $ | 18.5 |
Total assets | $ | 2,159.3 |  |  | $ | 2,659.1 |  |  | $ | 4,818.4 |
Financial information regarding our reportable segments is set forth below as of and for the three months ended March 31, 2023 (in millions):
| Marketplace |  | Finance |  | Consolidated
Operating revenues | $ | 321.0 |  |  | $ | 99.6 |  |  | $ | 420.6 |
Operating expenses |  |  |  |  |
Cost of services (exclusive of depreciation and amortization) | 207.8 |  |  | 16.4 |  |  | 224.2 |
Selling, general and administrative | 95.6 |  |  | 12.4 |  |  | 108.0 |
Depreciation and amortization | 21.2 |  |  | 1.8 |  |  | 23.0 |
Total operating expenses | 324.6 |  |  | 30.6 |  |  | 355.2 |
Operating profit (loss) | (3.6) |  |  | 69.0 |  |  | 65.4 |
Interest expense | 8.0 |  |  | 30.3 |  |  | 38.3 |
Other (income) expense, net | 7.0 |  |  | 0.1 |  |  | 7.1 |
Intercompany expense (income) | 6.4 |  |  | (6.4) |  |  | — |
Income (loss) from continuing operations before income taxes | (25.0) |  |  | 45.0 |  |  | 20.0 |
Income taxes | (3.9) |  |  | 11.2 |  |  | 7.3 |
Income (loss) from continuing operations | $ | (21.1) |  |  | $ | 33.8 |  |  | $ | 12.7 |
Total assets | $ | 2,376.5 |  |  | $ | 2,771.4 |  |  | $ | 5,147.9 |
Geographic Information Our foreign operations include Canada, Continental Europe and the U.K. Approximately 54% and 60% of our foreign operating revenues were from Canada for the three months ended March 31, 2024 and 2023, respectively. Most of the remaining foreign operating revenues were generated from Continental Europe. Information regarding the geographic areas of our operations is set forth below (in millions):
| Three Months Ended March 31,
| 2024 |  | 2023
Operating revenues |  |  |
U.S. | $ | 258.5 |  |  | $ | 272.2 |
Foreign | 157.8 |  |  | 148.4 |
| $ | 416.3 |  |  | $ | 420.6 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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