Segment Information

9 Months Ended

Sep. 30, 2011

Segment Reporting [Abstract]

Segment Information

SEGMENT INFORMATION

At September 30, 2011 and 2010, we had three operating and reportable segments: (1) Domestic, (2) Import, and (3) Premium Luxury. Our Domestic segment is comprised of retail automotive franchises that sell new vehicles manufactured by Ford, General Motors, and Chrysler. Our Import segment is comprised of retail automotive franchises that sell new vehicles manufactured primarily by Toyota, Honda, and Nissan. Our Premium Luxury segment is comprised of retail automotive franchises that sell new vehicles manufactured primarily by Mercedes, BMW, and Lexus. The franchises in each segment also sell used vehicles, parts and automotive repair and maintenance services, and automotive finance and insurance products.

“Corporate and other” is comprised of our other businesses, including collision centers, E-commerce activities, and an auction operation, each of which generates revenues, as well as unallocated corporate overhead expenses and retrospective commissions for certain financing and insurance transactions that we arrange under agreements with third parties.

The operating segments identified above are the business activities of the Company for which discrete financial information is available and for which operating results are regularly reviewed by our chief operating decision maker to allocate resources and assess performance. Our chief operating decision maker is our Chief Executive Officer. We have determined that our three operating segments also represent our reportable segments.

Reportable segment revenues and segment income (loss) are as follows:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2011		2010		2011		2010
Revenues:
Domestic	$	1,204.4	$	1,102.6	$	3,445.5	$	3,048.7
Import	1,318.3		1,275.1		3,829.0		3,523.9
Premium Luxury	948.7		863.3		2,768.5		2,546.3
Corporate and other	35.1		32.9		110.9		95.9
Total revenues	$	3,506.5	$	3,273.9	$	10,153.9	$	9,214.8

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2011			2010			2011			2010
Segment income (loss)*:
Domestic	$	46.7		$	42.5		$	135.8		$	116.1
Import	65.0			51.3			187.9			153.6
Premium Luxury	49.5			47.7			161.3			142.8
Corporate and other	(26.8		)	(31.4		)	(88.3		)	(80.8		)
Total segment income	134.4			110.1			396.7			331.7
Other interest expense	(16.4		)	(16.1		)	(48.6		)	(39.8		)
Loss on debt extinguishment	—			—			—			(19.6		)
Interest income	—			0.3			0.6			0.8
Other losses, net	(2.4		)	(0.7		)	(0.2		)	(1.1		)
Income from continuing operations before income taxes	$	115.6		$	93.6		$	348.5		$	272.0

*    Segment income (loss) is defined as operating income less floorplan interest expense.