Segment Information (Tables)

12 Months Ended

Dec. 31, 2024

Income statement or balance sheet information by reportable segment

The following table summarizes revenues; cost of sales; selling, general, and administrative expenses; depreciation; floor plan interest expense; other interest expense; equity in earnings of affiliates; and income 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. Our company's Chief Operating Decision Maker ("CODM") is our Chief Executive Officer. Our CODM uses segment income to evaluate the profitability of our reportable segments, which helps guide decisions on resource allocation. Segment income is also used to analyze budget versus actual results and actual results versus the comparable prior period. This analysis is utilized in assessing the performance of our reportable segments.


	Retail Automotive		Retail Commercial Truck		Other		Non-Automotive Investments		Total
Revenues
2024	$	26,156.2	$	3,521.1	$	777.9	$	—	$	30,455.2
2023	25,209.1		3,684.3		634.0		—		29,527.4
2022	23,694.7		3,541.3		578.8		—		27,814.8
Cost of sales
2024	$	21,905.6	$	2,936.6	$	599.7	$	—	$	25,441.9
2023	21,032.9		3,091.9		468.8		—		24,593.6
2022	19,568.3		2,986.2		421.5		—		22,976.0


Selling, general, and administrative expenses:
Personnel expenses
2024	$	1,775.6	$	264.3	$	72.2	$	—	$	2,112.1
2023	1,709.9		253.6		72.3		—		2,035.8
2022	1,709.1		234.0		70.2		—		2,013.3
Advertising expenses
2024	$	129.4	$	3.2	$	1.8	$	—	$	134.4
2023	130.8		3.3		1.8		—		135.9
2022	116.7		3.5		1.8		—		122.0
Rent & related expenses
2024	$	378.6	$	25.7	$	13.9	$	—	$	418.2
2023	350.6		25.8		12.9		—		389.3
2022	333.1		24.7		12.9		—		370.7
Other expenses (1)
2024	$	797.0	$	53.4	$	23.4	$	—	$	873.8
2023	756.6		57.3		25.7		—		839.6
2022	630.7		56.8		30.2		—		717.7
Depreciation
2024	$	137.4	$	15.1	$	5.5	$	—	$	158.0
2023	124.7		11.6		4.7		—		141.0
2022	112.7		10.0		4.6		—		127.3
Floor plan interest expense
2024	$	160.9	$	19.2	$	9.7	$	—	$	189.8
2023	116.0		14.5		2.6		—		133.1
2022	44.5		7.5		0.4		—		52.4
Other interest expense
2024	$	82.1	$	—	$	5.7	$	—	$	87.8
2023	90.3		1.3		1.0		—		92.6
2022	65.1		3.9		1.4		—		70.4
Equity in earnings of affiliates
2024	$	3.1	$	—	$	—	$	197.6	$	200.7
2023	3.9		—		—		289.8		293.7
2022	3.5		—		—		490.7		494.2


Segment income
2024	$	792.7	$	203.6	$	46.0	$	197.6	$	1,239.9
2023 (2)	860.5		225.0		44.2		289.8		1,419.5
2022	1,118.0		214.7		35.8		490.7		1,859.2
__________________________
(1)Other expenses within SG&A primarily consist of information technology expenses, customer service vehicle loaner expenses, vehicle delivery expenses, utility expenses, and various other miscellaneous expenses. These expenses are individually not significant to the performance of our segments and are not regularly used by the CODM on a disaggregated basis for purposes of evaluating segment profit or loss.

(2)Retail automotive segment income includes $40.7 million of goodwill impairment charges in 2023 related to our former Used Vehicle Dealerships International reporting unit.

Total capital expenditures by reportable segment are set forth in the table below. As segment assets are not regularly provided to or used by the CODM to measure business performance or allocate resources, total segment assets are not presented.


	Retail Automotive		Retail Commercial Truck		Other		Non-Automotive Investments		Total






Capital expenditures
2024	$	322.3	$	41.0	$	5.4	$	—	$	368.7
2023	306.9		60.1		8.3		—		375.3
2022	245.6		31.2		5.7		—		282.5

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,
	2024		2023		2022
Revenue from external customers:
U.S.	$	17,715.1	$	17,186.5	$	16,801.7
U.K.	9,322.0		9,240.4		8,443.4
Other International	3,418.1		3,100.5		2,569.7
Total revenue from external customers	$	30,455.2	$	29,527.4	$	27,814.8
Long-lived assets, net:
U.S.	$	3,529.0	$	3,255.4
U.K.	975.5		953.6
Other International	438.5		394.2
Total long-lived assets	$	4,943.0	$	4,603.2