Note 18 - Segments

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

18.

    

SEGMENTS

:

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 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 or departments within our 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 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,

2016,

2015

or

2014.

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,

2016,

2015

and

2014

(in thousands):

	Truck		All
	Segment		Other			Totals
201 6
Revenues from external customers	$	4,199,348	$	15,266		$	4,214,614
Interest income		621		–			621
Interest expense		14,740		160			14,900
Depreciation and amortization		50,771		490			51,261
Segment operating income		81,483		(756	)		80,728
Segment income (loss) from continuing operations before taxes		67,364		(915	)		66,449
Segment assets		2,570,016		33,031			2,603,047
Goodwill		287,631		2,560			290,191
Expenditures for segment assets		196,704		261			196,965
201 5
Revenues from external customers	$	4,964,642	$	15,091		$	4,979,733
Interest income		490		–			490
Interest expense		13,814		149			13,963
Depreciation and amortization		43,355		504			43,859
Segment operating income		122,907		(1,631	)		121,276
Segment income (loss) from continuing operations before taxes		109,583		(1,780	)		107,803
Segment assets		2,818,255		33,753			2,852,008
Goodwill		282,481		2,560			285,041
Expenditures for segment assets		367,482		308			367,790
201 4
Revenues from external customers	$	4,708,978	$	18,378		$	4,727,356
Interest income		239		–			239
Interest expense		11,278		159			11,437
Depreciation and amortization		40,283		503			40,786
Segment operating income		142,074		(333	)		141,741
Segment income (loss) from continuing operations before taxes		131,035		(492	)		130,543
Segment assets		2,646,018		29,857			2,675,875
Goodwill		262,585		2,560			265,145
Expenditures for segment assets		262,613		510			263,123