Note 19 - Segments

12 Months Ended

Dec. 31, 2012

Segment Reporting Disclosure [Text Block]

19. SEGMENTS:

The Company currently has one reportable business segment, the Truck Segment.  The Truck Segment operates a 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 body shop facilities; and a wide array of 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, when making decisions about resources to be allocated to the segment and assess its performance.

The Construction Equipment segment is no longer reported as a separate business segment due to the sale of Company’s construction equipment business.  See Note 16 for further discussion of the sale of the construction equipment business.

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 from continuing operations before income taxes not including extraordinary items.

The Company accounts for intersegment sales and transfers as if the sales or transfers were to third parties, that is, at current market prices. There were no material intersegment sales during the years ended December 31, 2012, 2011 and 2010.

The following table contains summarized information about reportable segment revenue, segment income or loss from continuing operations and segment assets for the periods ended December 31, 2012, 2011 and 2010 (in thousands):

	Truck Segment		All Other			Totals
2012
Revenues from external customers	$	3,072,092	$	18,475		$	3,090,567
Interest income		21		–			21
Interest expense		12,830		208			13,038
Depreciation and amortization		24,482		534			25,016
Segment income (loss) from continuing operations before taxes		102,392		(1,209	)		101,183
Segment assets		1,855,431		26,135			1,881,566
Goodwill		195,697		2,560			198,257
Expenditures for segment assets		170,436		515			170,951
2011
Revenues from external customers	$	2,562,740	$	17,871		$	2,580,611
Interest income		20		–			20
Interest expense		6,876		305			7,181
Depreciation and amortization		19,471		613			20,084
Segment income (loss) from continuing operations before taxes		91,820		(1,643	)		90,177
Segment assets		1,691,938		25,763			1,717,701
Goodwill		180,052		2,560			182,612
Expenditures for segment assets		148,384		159			148,543
2010
Revenues from external customers	$	1,482,742	$	15,185		$	1,497,927
Interest income		127		–			127
Interest expense		5,092		398			5,490
Depreciation and amortization		15,019		701			15,720
Segment income (loss) from continuing operations before taxes		37,690		(1,386	)		36,304
Segment assets		1,143,385		24,548			1,167,933
Goodwill		147,828		2,560			150,388
Expenditures for segment assets		83,670		633			84,303

Revenues from segments below the quantitative thresholds are attributable to three operating segments of the Company and are included in the All Other column. Those segments include a retail tire company, an insurance agency and a guest ranch operation. None of those segments has ever met any of the quantitative thresholds for determining reportable segments.