Segment Information Segment Information

6 Months Ended

Jun. 30, 2016

Segment Reporting [Abstract]

Segment Information

SEGMENT INFORMATION

As of June 30, 2016, the Company had three reportable segments: (1) the U.S., (2) the U.K., and (3) Brazil. Each of the reportable segments is comprised of retail automotive franchises, which sell new and used cars and light trucks; arranges related vehicle financing; sells service and insurance contracts; provides automotive maintenance and repair services; and sells vehicle parts. The vast majority of the Company's corporate activities are associated with the operations of the U.S. operating segments and therefore the corporate financial results are included within the U.S. reportable segment.

Reportable segment revenue, income (loss) before income taxes, (provision) benefit for income taxes and net income (loss) were as follows for the three and six months ended June 30, 2016 and 2015:

	Three Months Ended June 30, 2016												Six Months Ended June 30, 2016
	U.S.			U.K.			Brazil			Total			U.S.			U.K.			Brazil			Total
	(In thousands)												(In thousands)
Total revenues	$	2,207,381		$	467,792		$	107,276		$	2,782,449		$	4,289,014		$	899,688		$	202,102		$	5,390,804
Income (loss) before income taxes	61,784			7,929			(651		)	69,062			111,989			13,449			(2,274		)	123,164
(Provision) benefit for income taxes	(22,854		)	(1,586		)	1,958			(22,482		)	(41,685		)	(2,756		)	2,148			(42,293		)
Net income (loss) (1)	$	38,930		$	6,343		$	1,307		$	46,580		70,304			10,693			(126		)	80,871

	Three Months Ended June 30, 2015												Six Months Ended June 30, 2015
	U.S.			U.K.			Brazil			Total			U.S.			U.K.			Brazil			Total
	(In thousands)												(In thousands)
Total revenues	$	2,287,446		$	308,167		$	130,867		$	2,726,480		$	4,285,946		$	607,708		$	265,680		$	5,159,334
Income (loss) before income taxes	69,431			4,831			(485		)	73,777			122,589			9,951			(1,290		)	131,250
Provision for income taxes	(26,288		)	(1,010		)	(169		)	(27,467		)	(46,651		)	(2,009		)	(466		)	(49,126		)
Net income (loss)	$	43,143		$	3,821		$	(654	)	$	46,310		75,938			7,942			(1,756		)	82,124

⁽¹⁾ Includes the following, after tax: loss due to catastrophic events of $1.7 million and $3.4 million for the three and six months ended June 30, 2016, respectively, in the U.S. segment; and foreign deferred income tax benefit of $1.7 million for the three and six months ended June 30, 2016 in the Brazil segment.

Reportable segment total assets as of June 30, 2016 and December 31, 2015 were as follows:

	As of June 30, 2016
	U.S.		U.K.		Brazil		Total
	(In thousands)
Total assets	$	3,874,447	$	485,596	$	140,757	$	4,500,800

	As of December 31, 2015
	U.S.		U.K.		Brazil		Total
	(In thousands)
Total assets	$	3,923,001	$	358,476	$	115,239	$	4,396,716