Segment Information

3 Months Ended

Mar. 31, 2023

Segment Information

Segment Information

6.    Segment Information

The Company’s principal business activity is the management and disposition of used industrial equipment, vehicles and other durable assets. Effective as of the first quarter of 2023, the Company’s operations are comprised of one reportable segment following the acquisition of IAA on March 20, 2023. During the first quarter of 2023, senior management of the Company reassessed the organizational reporting structure of the Company and how to manage the combined business. As a result, the Company now operates in one operating and reportable segment to reflect the way the Chief Operating Decision Maker (“CODM”) reviews and assesses performance of the business and allocates resources. The long-term strategy for the Company is to sell Gross Transaction Value (“GTV”) while offering integrated marketplace services. The CODM does not evaluate the performance of the Company or assess allocation of resources at any level below the consolidated level or based on assets and liabilities.

The Company’s geographic breakdown of total revenue and location is as follows:

	United
Total revenue for the three months ended:	States		Canada		Australia		Europe		Other		Consolidated
March 31, 2023	$	360.1	$	68.3	$	19.1	$	50.7	$	14.2	$	512.4
March 31, 2022		248.0		65.2		29.1		37.8		13.8		393.9