Segment Information

12 Months Ended

Dec. 31, 2013

Segment Reporting [Abstract]

Segment Information

SEGMENT INFORMATION

At December 31, 2013, 2012, and 2011, 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 General Motors, Ford, 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-Benz, BMW, and Lexus. The franchises in each segment also sell used vehicles, parts and automotive services, and automotive finance and insurance products.

“Corporate and other” is comprised of our other businesses, including collision centers, a customer lead distribution business, and an auction operation, each of which generates revenues, as well as unallocated corporate overhead expenses and retrospective commissions for certain finance 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 revenue, segment income, floorplan interest expense, depreciation and amortization, total assets, and capital expenditures are as follows:

	Years Ended December 31,
	2013		2012		2011
Revenues:
Domestic	$	5,835.3	$	5,131.6	$	4,655.4
Import	6,375.0		5,827.5		4,933.3
Premium Luxury	5,152.3		4,553.3		4,096.4
Total segment revenue	17,362.6		15,512.4		13,685.1
Corporate and other	155.0		155.1		147.2
Total consolidated revenue	$	17,517.6	$	15,667.5	$	13,832.3

	Years Ended December 31,
	2013			2012			2011
Segment income*:
Domestic	$	246.6		$	209.4		$	180.0
Import	280.1			257.9			227.1
Premium Luxury	321.4			270.4			244.1
Total segment income	848.1			737.7			651.2
Corporate and other	(161.2		)	(137.9		)	(121.9		)
Other interest expense	(88.3		)	(86.9		)	(66.0		)
Loss on debt extinguishment	—			—			(2.2		)
Interest income	0.2			0.3			0.7
Other income (losses), net	5.6			3.6			(0.5		)
Income from continuing operations before income taxes	$	604.4		$	516.8		$	461.3

*Segment income for each of our segments is defined as operating income less floorplan interest expense.

	Years Ended December 31,
	2013		2012		2011
Floorplan interest expense:
Domestic	$	23.7	$	20.2	$	20.4
Import	16.3		14.2		11.2
Premium Luxury	12.6		10.7		9.7
Corporate and other	0.8		0.4		1.4
Total floorplan interest expense	$	53.4	$	45.5	$	42.7
	Years Ended December 31,
	2013		2012		2011
Depreciation and amortization:
Domestic	$	25.1	$	23.0	$	20.7
Import	28.1		25.0		22.4
Premium Luxury	26.9		25.1		23.4
Corporate and other	15.2		14.2		17.2
Total depreciation and amortization	$	95.3	$	87.3	$	83.7

	Years Ended December 31,
	2013		2012		2011
Assets:
Domestic	$	2,143.1	$	1,895.0	$	1,539.1
Import	2,030.4		1,787.4		1,487.6
Premium Luxury	1,633.6		1,541.6		1,295.0
Corporate and other:
Goodwill	1,259.6		1,237.4		1,172.2
Franchise rights	329.3		285.7		212.6
Other Corporate and other assets	518.1		455.9		492.3
Total assets	$	7,914.1	$	7,203.0	$	6,198.8

	Years Ended December 31,
	2013		2012		2011
Capital expenditures:
Domestic	$	61.9	$	69.5	$	31.7
Import	76.1		55.2		60.6
Premium Luxury	45.5		33.1		55.5
Corporate and other	23.7		25.8		10.3
Total capital expenditures	$	207.2	$	183.6	$	158.1