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Segment Information (Tables)
3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Revenues and segment income 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 ("EBT"). EBT 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.
Three Months Ended March 31,
Retail
Automotive
Retail Commercial
Truck
OtherNon-Automotive
Investments
Total
Revenues
2025$6,569.3 $823.7 $211.5 $— $7,604.5 
20246,478.0 791.8 178.0 — 7,447.8 
Cost of sales
2025$5,485.5 $682.7 $167.3 $— $6,335.5 
20245,420.8 647.0 134.8 — 6,202.6 
Selling, general, and administrative expenses:
Personnel expenses
2025$446.8 $65.9 $18.8 $— $531.5 
2024437.4 66.2 17.5 — 521.1 
Advertising expenses
2025$28.8 $0.9 $0.3 $— $30.0 
202432.0 0.7 0.4 — 33.1 
Rent & related expenses
2025$95.1 $6.6 $3.6 $— $105.3 
202493.4 6.5 3.6 — 103.5 
Other expenses (1)
2025$225.4 $14.9 $6.5 $— $246.8 
2024204.1 13.3 4.7 — 222.1 
Depreciation
2025$34.6 $3.9 $1.4 $— $39.9 
202432.9 3.6 1.3 — 37.8 
Floor plan interest expense
2025$35.5 $3.7 $2.3 $— $41.5 
202438.8 4.0 2.0 — 44.8 
Other interest expense
2025$18.0 $— $4.5 $— $22.5 
202421.2 — 0.1 — 21.3 
Equity in earnings of affiliates
2025$0.3 $— $— $33.0 $33.3 
20241.0 — — 32.3 33.3 
Segment income
2025 (2)$252.2 $45.1 $6.8 $33.0 $337.1 
2024198.4 50.5 13.6 32.3 294.8 
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(1)Other expenses within SG&A primarily consist of information technology expenses, customer service vehicle loaner expenses, vehicle delivery and preparation 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 a gain of $52.3 million from the sale of one retail automotive franchise in the U.S.
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.
Three Months Ended March 31,
Retail
Automotive
Retail Commercial
Truck
OtherNon-Automotive
Investments
Total
Capital expenditures
2025$57.9 $17.8 $0.9 $— $76.6 
202484.0 16.1 2.4 — 102.5