Segment Information

3 Months Ended

Mar. 31, 2020

As of March 31, 2020, the Company had three reportable segments: the U.S., the U.K. and Brazil. The U.S. and Brazil segments are led by the President, U.S. and Brazilian Operations, and the U.K. segment is led by a Managing Director, each reporting directly to the Company's Chief Executive Officer, who is the Chief Operating Decision Maker. The President, U.S. and Brazilian Operations, and the U.K. Managing Director are responsible for the overall performance of their respective regions, as well as for overseeing field level management. Each of the segments is comprised of retail automotive franchises that sell new and used cars and light trucks; arrange related vehicle financing; sell service insurance contracts; provide automotive maintenance and repair services; and sell vehicle parts. The vast majority of the Company’s corporate activities are associated with the operations of the U.S. segment and therefore the corporate financial results are included within the U.S. segment.

Reportable segment revenues and income (loss) before income taxes were as follows for the three months ended March 31, 2020 and 2019 (in millions):



	Three Months Ended March 31, 2020
	U.S.		U.K.			Brazil			Total
Total revenues	$	2,007.6	$	590.7		$	92.5		$	2,690.8
Income (loss) before income taxes ⁽¹⁾	$	42.2	$	(2.7	)	$	(0.6	)	$	38.9



	Three Months Ended March 31, 2019
	U.S.		U.K.		Brazil			Total
Total revenues	$	2,062.8	$	642.2	$	103.4		$	2,808.4
Income (loss) before income taxes ⁽²⁾	$	46.4	$	6.2	$	(0.4	)	$	52.2

⁽¹⁾ Income (loss) before income taxes for the three months ended March 31, 2020 includes a $0.9 million severance expense in the Brazil segment as further described in Note 1 “Interim Financial Information.”

⁽²⁾ Income (loss) before income taxes for the three months ended March 31, 2019 includes a $5.2 million net gain on disposition of real estate and dealership transactions in the U.S. segment, a $2.4 million loss on legal matters in the U.S. and Brazil segments and $2.0 million in expense related to Oklahoma hail storm damages in the U.S. segment.