AutoNation 2015 Annual Report Download - page 91
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Table of Contents
We may be charged back for commissions related to financing, vehicle service, or protection products in the event of early termination, default, or
prepayment of the contracts by customers (“chargebacks”). However, our exposure to loss generally is limited to the commissions that we receive. These
commissions are recorded at the time of the sale of the vehicles, net of an estimated liability for chargebacks. The following is a rollforward of our estimated
chargeback liability for each of the three years presented in our Consolidated Financial Statements:
Balance - January 1 $ 84.9
$ 67.6
$ 56.0
Add: Provisions 90.0
79.4
64.4
Deduct: Chargebacks (77.6)
(62.1)
(52.8)
Balance - December 31 $ 97.3
$ 84.9
$ 67.6
At December 31, 2015, 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 General Motors, Ford, and FCA US (formerly 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 services, and automotive finance and insurance products.
“Corporate and other” is comprised of our other businesses, including collision centers 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 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, segment income, floorplan interest expense, depreciation and amortization, total assets, and capital expenditures are as
follows:
Domestic $ 7,069.8
$ 6,359.5
$ 5,835.3
Import 7,037.2
6,717.8
6,375.0
Premium Luxury 6,607.8
5,889.3
5,152.3
Total 20,714.8
18,966.6
17,362.6
Corporate and other 147.2
142.2
155.0
Total consolidated revenue $ 20,862.0
$ 19,108.8
$ 17,517.6
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