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SEGMENT REPORTING | 6 Months Ended
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Jun. 30, 2023
Segment Reporting [Abstract] |
SEGMENT REPORTING | SEGMENT REPORTING Business segments are defined as components of an enterprise about which discrete financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing operating performance. Our operations are organized by management into operating segments by line of business. We have determined that we have two reportable segments as defined in U.S. GAAP for segment reporting: (1) powersports and (2) vehicle logistics. Our powersports segment consists of the distribution principally of new and used motorcycles and other powersports vehicles. Our vehicle logistics segment provides nationwide transportation brokerage services between dealerships and auctions. Information about continuing operations by operating segment for the three and six months ended June 30, 2023 and 2022 were as follows:
| Powersports | Vehicle Logistics | Eliminations (1) | Total - Continuing Operations |  |
Three Months Ended June 30, 2023 |  |  |  |  |  |
Revenue | $ | 368,308 |  | $ | 14,601 |  | $ | (178) |  | $ | 382,731 |  |  |
Operating income (loss) | $ | (661) |  | $ | 1,480 |  | $ | — |  | $ | 819 |  |  |
Depreciation and amortization | $ | 5,258 |  | $ | 11 |  | $ | — |  | $ | 5,269 |  |  |
Interest expense | $ | (18,326) |  | $ | — |  | $ | — |  | $ | (18,326) |  |  |
Three Months Ended June 30, 2022 |  |  |  |  |  |
Revenue (2) | $ | 396,665 |  | $ | 16,636 |  | $ | (1,119) |  | $ | 412,182 |  |  |
Operating income (loss) | $ | 29,820 |  | $ | 1,281 |  | $ | (55) |  | $ | 31,046 |  |  |
Depreciation and amortization | $ | 5,852 |  | $ | 10 |  | $ | — |  | $ | 5,862 |  |  |
Interest expense | $ | (12,751) |  | $ | — |  | $ | — |  | $ | (12,751) |  |  |
Six Months Ended June 30, 2023 |  |  |  |  |  |
Revenue | $ | 687,852 |  | $ | 29,600 |  | $ | (337) |  | $ | 717,115 |  |  |
Operating income (loss) | $ | (2,804) |  | $ | 2,910 |  | $ | — |  | $ | 106 |  |  |
Depreciation and amortization | $ | 9,975 |  | $ | 21 |  | $ | — |  | $ | 9,996 |  |  |
Interest expense | $ | (35,928) |  | $ | — |  | $ | — |  | $ | (35,928) |  |  |
Change in derivative liability | $ | — |  | $ | — |  | $ | — |  | $ | — |  |  |
Six Months Ended June 30, 2022 |  |  |  |  |  |
Revenue (2) | $ | 718,818 |  | $ | 30,248 |  | $ | (2,380) |  | $ | 746,686 |  |  |
Operating income (loss) | $ | 51,588 |  | $ | 2,348 |  | $ | (48) |  | $ | 53,888 |  |  |
Depreciation and amortization | $ | 10,299 |  | $ | 20 |  | $ | — |  | $ | 10,319 |  |  |
Interest expense | $ | (23,412) |  | $ | (1) |  | $ | — |  | $ | (23,413) |  |  |
Change in derivative liability | $ | 39 |  | $ | — |  | $ | — |  | $ | 39 |  |  |
Total assets by operating segment at June 30, 2023 and 2022 were as follows:
| Powersports | Vehicle Logistics | Eliminations (1) | Continuing Operations | Discontinued Operations | Total
Total assets at June 30, 2023 | $ | 1,876,666 |  | $ | 23,186 |  | $ | (863,300) |  | $ | 1,036,552 |  | $ | 307 |  | $ | 1,036,859 |
Total assets at June 30, 2022 | $ | 2,028,815 |  | $ | 18,672 |  | $ | (824,275) |  | $ | 1,223,212 |  | $ | 48,345 |  | $ | 1,271,557 |
(1)Intercompany investment balances primarily relate to the acquisitions of RideNow, Freedom Entities, Wholesale Inc. and Wholesale Express, and receivables and other balances related to intercompany freight services of Wholesale Express are eliminated in the Condensed Consolidated Balance Sheets. Revenue and costs for these intercompany freight services have been eliminated in the Condensed Consolidated Statements of Operations. (2)Amount for Powersports for 2022 have been adjusted by $18.1 million and $32.8 million, respectively for three and six months ended June 30, 2022. See "Correction of an Immaterial Misstatement Related to Prior Periods" in Note 1.

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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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