Note 6 - Segment Information

9 Months Ended

Sep. 30, 2024

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

6 – Segment Information

The Company currently has one reportable business segment - the Truck Segment. The Truck Segment includes the Company’s operation of a network of commercial vehicle dealerships throughout the United States and Ontario, Canada 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, 2024 and 2023 (in thousands):

	Truck Segment		All Other			Total
As of and for the three months ended September 30, 2024
Revenues from external customers	$	1,891,777	$	4,356		$	1,896,133
Segment operating income		120,553		201			120,754
Segment income before taxes		103,038		201			103,239
Segment assets		4,591,223		57,248			4,648,471
For the nine months ended September 30, 2024
Revenues from external customers	$	5,782,578	$	12,582		$	5,795,160
Segment operating income		355,890		(45	)		355,845
Segment income before taxes		301,158		(44	)		301,114
As of and for the three months ended September 30, 2023
Revenues from external customers	$	1,976,395	$	4,345		$	1,980,740
Segment operating income		121,675		(54	)		121,621
Segment income before taxes		107,614		(54	)		107,560
Segment assets		4,163,261		54,792			4,218,053
For the nine months ended September 30, 2023
Revenues from external customers	$	5,883,127	$	12,432		$	5,895,559
Segment operating income		391,870		386			392,256
Segment income before taxes		356,839		386			357,225