Segment Information (Tables)

12 Months Ended

Dec. 31, 2023

Income statement or balance sheet information by reportable segment

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		Other		Non-Automotive Investments		Total
Revenues
2023	$	25,209.1	$	3,684.3	$	634.0	$	—	$	29,527.4
2022	23,694.7		3,541.3		578.8		—		27,814.8
2021	22,513.3		2,465.7		575.7		—		25,554.7
Gross profit
2023	$	4,176.2	$	592.4	$	165.2	$	—	$	4,933.8
2022	4,126.4		555.1		157.3		—		4,838.8
2021	3,870.2		416.9		153.7		—		4,440.8
Selling, general, and administrative expenses
2023	$	2,948.8	$	339.2	$	112.6	$	—	$	3,400.6
2022	2,790.4		318.3		115.0		—		3,223.7
2021	2,607.3		243.3		112.3		—		2,962.9
Floor plan interest expense
2023	$	116.0	$	14.5	$	2.6	$	—	$	133.1
2022	44.5		7.5		0.4		—		52.4
2021	23.9		1.9		0.4		—		26.2
Other interest expense
2023	$	90.3	$	1.3	$	1.0	$	—	$	92.6
2022	65.1		3.9		1.4		—		70.4
2021	63.8		3.3		1.5		—		68.6
Depreciation
2023	$	124.7	$	11.6	$	4.7	$	—	$	141.0
2022	112.7		10.0		4.6		—		127.3
2021	108.7		7.9		4.9		—		121.5
Equity in earnings of affiliates
2023	$	3.9	$	—	$	—	$	289.8	$	293.7
2022	3.5		—		—		490.7		494.2
2021	8.2		—		—		366.3		374.5
Segment income
2023 (1)	$	860.5	$	225.0	$	44.2	$	289.8	$	1,419.5
2022	1,118.0		214.7		35.8		490.7		1,859.2
2021	1,046.6		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		Other		Non-Automotive Investments		Total
Total assets
2023	$	11,408.3	$	1,690.8	$	842.0	$	1,730.4	$	15,671.5
2022	10,483.3		1,471.9		563.6		1,595.8		14,114.6
Equity method investments
2023	$	44.5	$	—	$	—	$	1,730.4	$	1,774.9
2022	41.1		—		—		1,595.8		1,636.9
Capital expenditures
2023	$	306.9	$	60.1	$	8.3	$	—	$	375.3
2022	245.6		31.2		5.7		—		282.5
2021	239.4		6.3		3.2		—		248.9

Schedule of revenue and long-lived assets by geographic area

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,
	2023		2022		2021
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