Segment Information

6 Months Ended

Jul. 03, 2022

Segment Reporting [Abstract]

Segment Information

Segment Information

The Company has two operating segments: United States and International. The Company's two operating segments represent its two reportable segments. These segments represent geographic areas and reflect how the chief operating decision maker allocates resources and measures results.

Intercompany (income) expense related to charges for services provided by the United States segment to the International segment are based on the benefits received. Such services are related to technology and other business support services.

Financial information regarding the Company's reportable segments is set forth below as of and for the three and six months ended July 3, 2022 (in millions):

	Three Months Ended July 3, 2022						Six Months Ended July 3, 2022
	United States		International		Total		United States		International		Total
Revenues:
Service revenues	$	380.9	$	35.7	$	416.6	$	777.5	$	74.1	$	851.6
Vehicle and parts sales	37.6		66.1		103.7		79.8		146.5		226.3
Total revenues	418.5		101.8		520.3		857.3		220.6		1,077.9
Operating expenses:
Cost of services	211.8		30.9		242.7		433.5		61.5		495.0
Cost of vehicle and parts sales	39.2		56.4		95.6		76.5		123.2		199.7
Selling, general and administrative	42.3		5.2		47.5		89.5		12.3		101.8
Depreciation and amortization	21.5		5.1		26.6		42.2		10.5		52.7
Total operating expenses	314.8		97.6		412.4		641.7		207.5		849.2
Operating profit	103.7		4.2		107.9		215.6		13.1		228.7
Interest expense, net	11.5		—		11.5		22.7		—		22.7
Other expense, net	3.6		—		3.6		4.7		0.5		5.2
Intercompany (income) expense	(2.2)		2.2		—		(4.0)		4.0		—
Income before income taxes	90.8		2.0		92.8		192.2		8.6		200.8
Income taxes	9.6		0.5		10.1		33.9		2.7		36.6
Net income	$	81.2	$	1.5	$	82.7	$	158.3	$	5.9	$	164.2
Total assets	$	2,575.7	$	549.9	$	3,125.6	$	2,575.7	$	549.9	$	3,125.6

Financial information regarding the Company's reportable segments is set forth below as of and for the three and six months ended June 27, 2021 (in millions):

	Three Months Ended June 27, 2021						Six Months Ended June 27, 2021
	United States		International		Total		United States		International		Total
Revenues:
Service revenues	$	359.0	$	23.5	$	382.5	691.4		51.5		742.9
Vehicle and parts sales	34.0		28.6		62.6		59.9		65.8		125.7
Total revenues	393.0		52.1		445.1		751.3		117.3		868.6
Operating expenses:
Cost of services	182.7		14.9		197.6		360.8		33.2		394.0
Cost of vehicle and parts sales	26.7		24.9		51.6		47.7		58.3		106.0
Selling, general and administrative	40.5		3.2		43.7		81.0		6.1		87.1
Depreciation and amortization	18.4		2.1		20.5		36.3		4.0		40.3
Total operating expenses	268.3		45.1		313.4		525.8		101.6		627.4
Operating profit	124.7		7.0		131.7		225.5		15.7		241.2
Interest expense, net	22.0		(0.1)		21.9		35.0		(0.1)		34.9
Other income, net	(0.1)		(0.2)		(0.3)		(0.3)		(0.4)		(0.7)
Intercompany (income) expense	(2.1)		2.1		—		(4.4)		4.4		—
Income before income taxes	104.9		5.2		110.1		195.2		11.8		207.0
Income taxes	25.5		1.7		27.2		48.2		3.4		51.6
Net income	$	79.4	$	3.5	$	82.9	$	147.0	$	8.4	$	155.4
Total assets	$	2,434.6	$	238.1	$	2,672.7	$	2,434.6	$	238.1	$	2,672.7