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Segment Information
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
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 represent two operating segments: 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 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 June 30,
Retail
Automotive		Retail Commercial
Truck		OtherNon-Automotive
Investments		Total
Revenues
2025$6,517.5 $943.6 $201.2 $— $7,662.3 
20246,615.4 892.3 189.0 — 7,696.7 
Cost of sales
2025$5,408.7 $800.0 $157.0 $— $6,365.7 
20245,540.4 747.8 144.4 — 6,432.6 
Selling, general, and administrative expenses:
Personnel expenses
2025$466.8 $65.4 $19.2 $— $551.4 
2024444.8 64.8 18.7 — 528.3 
Advertising expenses
2025$30.9 $0.8 $0.8 $— $32.5 
202433.1 0.7 0.5 — 34.3 
Rent & related expenses
2025$97.9 $6.8 $3.5 $— $108.2 
202494.1 6.2 3.4 — 103.7 
Other expenses (1)
2025$201.0 $7.4 $5.8 $— $214.2 
2024202.0 12.7 6.5 — 221.2 
Depreciation
2025$36.5 $4.1 $1.5 $— $42.1 
202433.5 3.7 1.4 — 38.6 
Floor plan interest expense
2025$36.2 $4.9 $2.2 $— $43.3 
202439.5 4.7 2.4 — 46.6 
Other interest expense
2025$17.5 $— $4.1 $— $21.6 
202418.8 — 1.1 — 19.9 
Equity in earnings of affiliates
2025$0.3 $— $— $53.3 $53.6 
20241.2 — — 52.8 54.0 
Segment income
2025$222.3 $54.2 $7.1 $53.3 $336.9 
2024210.4 51.7 10.6 52.8 325.5 
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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.
Six Months Ended June 30,
Retail
Automotive		Retail Commercial
Truck		OtherNon-Automotive
Investments		Total
Revenues
2025$13,086.8 $1,767.3 $412.7 $— $15,266.8 
202413,093.4 1,684.1 367.0 — 15,144.5 
Cost of sales
2025$10,894.2 $1,482.7 $324.3 $— $12,701.2 
202410,961.2 1,394.8 279.2 — 12,635.2 
Selling, general, and administrative expenses:
Personnel expenses
2025$913.5 $131.3 $38.1 $— $1,082.9 
2024882.2 131.0 36.2 — 1,049.4 
Advertising expenses
2025$59.6 $1.7 $1.2 $— $62.5 
202465.1 1.5 0.9 — 67.5 
Rent & related expenses
2025$193.1 $13.4 $7.0 $— $213.5 
2024187.4 12.7 7.0 — 207.1 
Other expenses (1)
2025$426.6 $22.2 $12.2 $— $461.0 
2024406.0 26.0 11.3 — 443.3 
Depreciation
2025$71.0 $8.1 $2.9 $— $82.0 
202466.6 7.2 2.6 — 76.4 
Floor plan interest expense
2025$71.7 $8.6 $4.5 $— $84.8 
202478.3 8.7 4.4 — 91.4 
Other interest expense
2025$35.5 $— $8.6 $— $44.1 
202440.0 — 1.2 — 41.2 
Equity in earnings of affiliates
2025$0.5 $— $— $86.4 $86.9 
20242.2 — — 85.1 87.3 
Segment income
2025 (2)$474.4 $99.3 $13.9 $86.4 $674.0 
2024408.8 102.2 24.2 85.1 620.3 
__________________________
(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 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 June 30,
Retail
Automotive		Retail Commercial
Truck		OtherNon-Automotive
Investments		Total
Capital expenditures
2025$51.6 $17.5 $1.7 $— $70.8 
202490.9 6.5 1.8 — 99.2 
Six Months Ended June 30,
Retail
Automotive		Retail Commercial
Truck		OtherNon-Automotive
Investments		Total
Capital expenditures
2025$109.5 $35.3 $2.6 $— $147.4 
2024174.9 22.6 4.2 — 201.7