Segment Information

9 Months Ended

Oct. 02, 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 nine months ended October 2, 2022 (in millions):

	Three Months Ended October 2, 2022						Nine Months Ended October 2, 2022
	United States		International		Total		United States		International		Total
Revenues:
Service revenues	$	362.8	$	35.1	$	397.9	$	1,140.3	$	109.2	$	1,249.5
Vehicle and parts sales	43.1		56.5		99.6		122.9		203.0		325.9
Total revenues	405.9		91.6		497.5		1,263.2		312.2		1,575.4
Operating expenses:
Cost of services	215.1		28.9		244.0		648.6		90.4		739.0
Cost of vehicle and parts sales	41.3		52.0		93.3		117.8		175.2		293.0
Selling, general and administrative	45.8		5.2		51.0		135.3		17.5		152.8
Depreciation and amortization	20.3		4.9		25.2		62.5		15.4		77.9
Total operating expenses	322.5		91.0		413.5		964.2		298.5		1,262.7
Operating profit	83.4		0.6		84.0		299.0		13.7		312.7
Interest expense (income), net	13.6		(0.3)		13.3		36.3		(0.3)		36.0
Other expense (income), net	3.4		(0.4)		3.0		8.1		0.1		8.2
Intercompany (income) expense	(1.8)		1.8		—		(5.8)		5.8		—
Income (loss) before income taxes	68.2		(0.5)		67.7		260.4		8.1		268.5
Income taxes	16.8		0.6		17.4		50.7		3.3		54.0
Net income (loss)	$	51.4	$	(1.1)	$	50.3	$	209.7	$	4.8	$	214.5
Total assets	$	2,663.1	$	518.3	$	3,181.4	$	2,663.1	$	518.3	$	3,181.4

Financial information regarding the Company's reportable segments is set forth below as of and for the three and nine months ended September 26, 2021 (in millions):

	Three Months Ended September 26, 2021						Nine Months Ended September 26, 2021
	United States		International		Total		United States		International		Total
Revenues:
Service revenues	$	336.5	$	22.5	$	359.0	1,027.9		74.0		1,101.9
Vehicle and parts sales	32.6		29.1		61.7		92.5		94.9		187.4
Total revenues	369.1		51.6		420.7		1,120.4		168.9		1,289.3
Operating expenses:
Cost of services	183.7		14.7		198.4		544.5		47.9		592.4
Cost of vehicle and parts sales	29.2		25.3		54.5		76.9		83.6		160.5
Selling, general and administrative	46.4		3.4		49.8		127.4		9.5		136.9
Depreciation and amortization	19.1		2.1		21.2		55.4		6.1		61.5
Total operating expenses	278.4		45.5		323.9		804.2		147.1		951.3
Operating profit	90.7		6.1		96.8		316.2		21.8		338.0
Interest expense (income), net	11.1		—		11.1		46.1		(0.1)		46.0
Other (income) expense, net	(0.2)		0.4		0.2		(0.5)		—		(0.5)
Intercompany (income) expense	(1.8)		1.8		—		(6.2)		6.2		—
Income before income taxes	81.6		3.9		85.5		276.8		15.7		292.5
Income taxes	19.0		0.8		19.8		67.2		4.2		71.4
Net income	$	62.6	$	3.1	$	65.7	$	209.6	$	11.5	$	221.1
Total assets	$	2,573.1	$	239.6	$	2,812.7	$	2,573.1	$	239.6	$	2,812.7