Segment Information

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Segment Information

6. Segment Information

The Company’s principal business activity is the management and disposition of used commercial equipment, vehicles and other durable assets.

Effective as of the first quarter of 2023, the Company determined that its operations are comprised of one reportable segment following the acquisition of IAA on March 20, 2023. Effective early August 2023, with the departures of the then CEO and CFO, the former President and COO was appointed CEO. At the current time, the Company has begun a search for a new CFO. The new CEO, who is the Chief Operating Decision Maker ("CODM") of the Company, has formed his leadership team and operating structure and based on how he expects to review and assess performance of the combined business and allocate resources, we expect the Company to remain as one operating and reportable segment. 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:

Total revenue for the three months ended:	United States		Canada		Europe		Australia		Other		Consolidated
September 30, 2023	$	767.1	$	126.8	$	80.6	$	25.0	$	20.3	$	1,019.8
September 30, 2022	258.1		74.9		27.2		37.2		14.1		411.5
Total revenue for the nine months ended:
September 30, 2023	$	1,881.5	$	383.4	$	223.1	$	90.3	$	60.4	$	2,638.7
September 30, 2022	721.5		283.5		102.0		138.0		44.9		1,289.9