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Segment Information
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Segment Information Segment Information
Our operations are organized by management into operating segments by line of business and geography. We have determined that we have four reportable segments as defined in generally accepted accounting principles for segment reporting: (i) Retail Automotive, consisting of our retail automotive dealership operations; (ii) Retail Commercial Truck, consisting of our retail commercial truck dealership operations in the U.S. and Canada; (iii) Other, consisting of our commercial vehicle and power systems distribution operations; and (iv) Non-Automotive Investments, consisting of our equity method investments in non-automotive operations which includes our investment in PTS and other various investments. The Retail Automotive reportable segment includes all automotive dealerships and all departments relevant to the operation of the dealerships and our retail automotive joint ventures. The individual dealership operations included in the Retail Automotive reportable segment now represent two operating segments as previously discussed in Note 1: United States Retail Automotive and International Retail Automotive. These operating segments have been aggregated into one reportable segment as their operations (A) have similar economic characteristics (all are automotive dealerships having similar margins), (B) offer similar products and services (all sell new and/or used vehicles, service, parts, and third-party finance and insurance products), (C) have similar target markets and customers (generally individuals), and (D) have similar distribution and marketing practices (all distribute products and services through dealership facilities that market to customers in similar fashions). The accounting policies of the segments are the same and are described in Note 1.
The following table summarizes revenues, gross profit, selling, general, and administrative expenses, floor plan interest expense, other interest expense, depreciation, equity in earnings of affiliates, and income from continuing operations before income taxes, which is the measure of segment performance by which management allocates resources to its segments and which we refer to as segment income, for each of our reportable segments.
Retail
Automotive		Retail Commercial
Truck		OtherNon-Automotive
Investments		Total
Revenues
2023$25,209.1 $3,684.3 $634.0 $— $29,527.4 
202223,694.7 3,541.3 578.8 — 27,814.8 
202122,513.3 2,465.7 575.7 — 25,554.7 
Gross profit
2023$4,176.2 $592.4 $165.2 $— $4,933.8 
20224,126.4 555.1 157.3 — 4,838.8 
20213,870.2 416.9 153.7 — 4,440.8 
Selling, general, and administrative expenses
2023$2,948.8 $339.2 $112.6 $— $3,400.6 
20222,790.4 318.3 115.0 — 3,223.7 
20212,607.3 243.3 112.3 — 2,962.9 
Floor plan interest expense
2023$116.0 $14.5 $2.6 $— $133.1 
202244.5 7.5 0.4 — 52.4 
202123.9 1.9 0.4 — 26.2 
Other interest expense
2023$90.3 $1.3 $1.0 $— $92.6 
202265.1 3.9 1.4 — 70.4 
202163.8 3.3 1.5 — 68.6 
Depreciation
2023$124.7 $11.6 $4.7 $— $141.0 
2022112.7 10.0 4.6 — 127.3 
2021108.7 7.9 4.9 — 121.5 
Equity in earnings of affiliates
2023$3.9 $— $— $289.8 $293.7 
20223.5 — — 490.7 494.2 
20218.2 — — 366.3 374.5 
Segment income
2023 (1)$860.5 $225.0 $44.2 $289.8 $1,419.5 
20221,118.0 214.7 35.8 490.7 1,859.2 
20211,046.6 160.3 34.5 366.3 1,607.7 
__________________________
(1)Retail automotive segment income includes $40.7 million of impairment charges in 2023 related to our Used Vehicle Dealerships International reporting unit.
Total assets, equity method investments, and capital expenditures by reportable segment are as set forth in the table below:
Retail
Automotive		Retail Commercial
Truck		OtherNon-Automotive
Investments		Total
Total assets
2023$11,408.3 $1,690.8 $842.0 $1,730.4 $15,671.5 
202210,483.3 1,471.9 563.6 1,595.8 14,114.6 
Equity method investments
2023$44.5 $— $— $1,730.4 $1,774.9 
202241.1 — — 1,595.8 1,636.9 
Capital expenditures
2023$306.9 $60.1 $8.3 $— $375.3 
2022245.6 31.2 5.7 — 282.5 
2021239.4 6.3 3.2 — 248.9 
The following table presents revenue and long-lived assets (all non-current assets except goodwill, other indefinite-lived intangible assets, and operating lease right-of-use assets) by geographic area:
Year Ended December 31,
202320222021
Revenue from external customers:
U.S.$17,186.5 $16,801.7 $15,275.9 
Non-U.S.12,340.9 11,013.1 10,278.8 
Total revenue from external customers$29,527.4 $27,814.8 $25,554.7 
Long-lived assets, net:
U.S.$3,255.4 $3,001.8 
Non-U.S.1,347.8 1,186.9 
Total long-lived assets$4,603.2 $4,188.7 
The Company's non-U.S. operations are predominantly based in the U.K.