Segment Information

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Segment Information

SEGMENT INFORMATION

At March 31, 2024 and 2023, 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 Stellantis. Our Import segment is comprised of retail automotive franchises that sell new vehicles manufactured primarily by Toyota, Honda, Hyundai, Subaru, and Nissan. Our Premium Luxury segment is comprised of retail automotive franchises that sell new vehicles manufactured primarily by Mercedes-Benz, BMW, Lexus, Audi, and Jaguar Land Rover. 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 non-franchised businesses, including AutoNation USA used vehicle stores, collision centers, parts distribution centers, auction operations, and our mobile automotive repair and maintenance business, all of which generate revenues but do not meet the quantitative thresholds for reportable segments, as well as the results of our auto finance company, unallocated corporate overhead expenses, and other income items.

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.

The following table provides information on revenues from external customers and segment income of our reportable segments:

	Three Months Ended
	March 31, 2024
	Domestic		Import		Premium Luxury
Revenues from external customers	$	1,756.7	$	1,979.5	$	2,414.9
Segment income (1)	$	75.2	$	128.8	$	171.6
	Three Months Ended
	March 31, 2023
	Domestic		Import		Premium Luxury
Revenues from external customers	$	1,831.1	$	1,789.3	$	2,484.9
Segment income (1)	$	118.5	$	160.4	$	226.8
(1) Segment income represents income for each of our reportable segments and is defined as operating income less floorplan interest expense.

The following is a reconciliation of total segment income for reportable segments to our consolidated income from continuing operations before income taxes:

	Three Months Ended
	March 31,
	2024		2023
Total segment income for reportable segments	$	375.6	$	505.7
Corporate and other	(84.7)		(89.5)
Other interest expense	(44.6)		(41.1)
Other income, net	7.0		5.2
Income from continuing operations before income taxes	$	253.3	$	380.3