Segment Information

6 Months Ended

Jun. 30, 2014

Segment Reporting [Abstract]

Segment Information

SEGMENT INFORMATION

At June 30, 2014 and 2013, we had three 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 Ford, General Motors, 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, Lexus, and Audi. The franchises in each segment also sell used vehicles, parts and automotive repair and maintenance services, and automotive finance and insurance products.

“Corporate and other” is comprised of our other businesses, including collision centers, a customer lead distribution business (which was divested in January 2014), and an auction operation, each of which generates revenues, as well as unallocated corporate overhead expenses and retrospective commissions for certain financing and insurance transactions that we arrange under agreements with third parties.

The reportable 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.

Reportable segment revenue and segment income are as follows:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2014		2013		2014		2013
Revenue:
Domestic	$	1,604.9	$	1,515.3	$	3,077.9	$	2,893.3
Import	1,717.8		1,629.3		3,267.2		3,133.0
Premium Luxury	1,431.9		1,242.4		2,738.3		2,415.3
Total	4,754.6		4,387.0		9,083.4		8,441.6
Corporate and other	33.9		39.5		68.6		81.3
Total consolidated revenue	$	4,788.5	$	4,426.5	$	9,152.0	$	8,522.9

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2014			2013			2014			2013
Segment income(1):
Domestic	$	70.5		$	66.1		$	134.3		$	124.7
Import	77.5			72.9			142.9			143.9
Premium Luxury	85.8			75.7			169.1			144.5
Total	233.8			214.7			446.3			413.1
Corporate and other	(49.3		)	(47.4		)	(85.9		)	(89.3		)
Other interest expense	(21.3		)	(22.0		)	(42.9		)	(44.3		)
Interest income	0.1			—			0.1			0.1
Other income, net	0.9			1.3			2.4			2.9
Income from continuing operations before income taxes	$	164.2		$	146.6		$	320.0		$	282.5

⁽¹⁾ Segment income represents income for each of our reportable segments and is defined as operating income less floorplan interest expense.