OPENLANE, Inc.OPLN
OPENLANE, Inc. Segments Disclosure
Segment Information
No single customer accounted for more than ten percent of our total revenues in any fiscal year presented.
ASC 280, Segment Reporting, requires reporting of segment information that is consistent with the manner in which the chief operating decision maker ("CODM") operates and views the Company. OPENLANE's CODM is the . Our operations are grouped into two operating segments: Marketplace and Finance, which also serve as our reportable business segments. These reportable business segments offer different services and have fundamental differences in their operations. This segment structure reflects the financial information used by our CODM to make decisions regarding the business, including resource allocations and performance assessments. The Company’s method for measuring profitability on a reportable segment basis is operating profit (loss). The CODM considers history-to-actual, budget-to-actual and forecast-to-actual results to assess the performance of the segments and in allocating resources.
Marketplace encompasses all wholesale marketplaces throughout North America and Europe. The Marketplace segment relates to used vehicle remarketing, including marketplace services, remarketing, or make ready services and all are interrelated, synergistic elements along the auto remarketing chain.
The Finance segment (through AFC) is primarily engaged in the business of providing short-term, inventory-secured financing to independent vehicle dealers. AFC conducts business primarily at or near wholesale used vehicle auctions in the U.S. and Canada and other areas where there is a concentration of AFC customers.
Financial information regarding our reportable segments is set forth below as of and for the year ended December 31, 2025 (in millions):
| Marketplace | Finance | Consolidated | |||||||||||||||
| Operating revenues | $ | 1,500.8 | $ | 433.7 | $ | 1,934.5 | |||||||||||
| Operating expenses | |||||||||||||||||
| Cost of services (exclusive of depreciation and amortization) | 970.4 | 71.3 | 1,041.7 | ||||||||||||||
Finance interest expense | — | 109.9 | 109.9 | ||||||||||||||
Provision for credit losses | 5.1 | 37.3 | 42.4 | ||||||||||||||
| Selling, general and administrative | 391.2 | 54.0 | 445.2 | ||||||||||||||
Depreciation and amortization | 79.4 | 12.3 | 91.7 | ||||||||||||||
| Loss on sale of property | 7.0 | — | 7.0 | ||||||||||||||
| Total operating expenses | 1,737.9 | ||||||||||||||||
Operating profit | 47.7 | 148.9 | 196.6 | ||||||||||||||
| Interest expense | 18.1 | ||||||||||||||||
| Other income, net | (13.7) | ||||||||||||||||
Income from continuing operations before income taxes | 192.2 | ||||||||||||||||
| Income taxes | 14.5 | ||||||||||||||||
Income from continuing operations | $ | 177.7 | |||||||||||||||
| Total assets | $ | 1,960.7 | $ | 2,763.6 | $ | 4,724.3 | |||||||||||
| Capital expenditures | $ | 51.0 | $ | 4.4 | $ | 55.4 | |||||||||||
Financial information regarding our reportable segments is set forth below as of and for the year ended December 31, 2024 (in millions):
| Marketplace | Finance | Consolidated | |||||||||||||||
| Operating revenues | $ | 1,357.4 | $ | 431.1 | $ | 1,788.5 | |||||||||||
| Operating expenses | |||||||||||||||||
| Cost of services (exclusive of depreciation and amortization) | 888.9 | 67.4 | 956.3 | ||||||||||||||
Finance interest expense | — | 123.5 | 123.5 | ||||||||||||||
Provision for credit losses | 6.7 | 47.6 | 54.3 | ||||||||||||||
| Selling, general and administrative | 359.6 | 49.0 | 408.6 | ||||||||||||||
Depreciation and amortization | 83.3 | 11.9 | 95.2 | ||||||||||||||
| Gain on sale of business | (31.6) | — | (31.6) | ||||||||||||||
| Total operating expenses | 1,606.3 | ||||||||||||||||
| Operating profit | 50.5 | 131.7 | 182.2 | ||||||||||||||
| Interest expense | 21.8 | ||||||||||||||||
| Other expense, net | 2.5 | ||||||||||||||||
| Income from continuing operations before income taxes | 157.9 | ||||||||||||||||
| Income taxes | 48.0 | ||||||||||||||||
| Income from continuing operations | $ | 109.9 | |||||||||||||||
| Total assets | $ | 1,944.6 | $ | 2,677.7 | $ | 4,622.3 | |||||||||||
| Capital expenditures | $ | 48.7 | $ | 4.3 | $ | 53.0 | |||||||||||
Financial information regarding our reportable segments is set forth below as of and for the year ended December 31, 2023 (in millions):
| Marketplace | Finance | Consolidated | |||||||||||||||
| Operating revenues | $ | 1,251.7 | $ | 444.0 | $ | 1,695.7 | |||||||||||
| Operating expenses | |||||||||||||||||
| Cost of services (exclusive of depreciation and amortization) | 801.7 | 65.9 | 867.6 | ||||||||||||||
Finance interest expense | — | 130.6 | 130.6 | ||||||||||||||
Provision for credit losses | 8.6 | 50.6 | 59.2 | ||||||||||||||
| Selling, general and administrative | 372.0 | 49.8 | 421.8 | ||||||||||||||
Depreciation and amortization | 92.2 | 9.3 | 101.5 | ||||||||||||||
| Goodwill and other intangibles impairment | 250.8 | — | 250.8 | ||||||||||||||
| Total operating expenses | 1,831.5 | ||||||||||||||||
Operating (loss) profit | (273.6) | 137.8 | (135.8) | ||||||||||||||
| Interest expense | 25.2 | ||||||||||||||||
| Other income, net | (15.6) | ||||||||||||||||
| Loss on extinguishment of debt | 1.1 | ||||||||||||||||
| Loss from continuing operations before income taxes | (146.5) | ||||||||||||||||
| Income taxes | 8.3 | ||||||||||||||||
| Loss from continuing operations | $ | (154.8) | |||||||||||||||
| Total assets | $ | 2,065.6 | $ | 2,660.7 | $ | 4,726.3 | |||||||||||
| Capital expenditures | $ | 46.5 | $ | 5.5 | $ | 52.0 | |||||||||||
Geographic Information
Our foreign operations include Canada, Continental Europe and the U.K. Approximately 52%, 52% and 58% of our foreign operating revenues were from Canada for the years ended December 31, 2025, 2024 and 2023, respectively. Most of the remaining foreign operating revenues were generated from Continental Europe. Long-lived assets are defined as long-term assets other than financial instruments and deferred tax assets. Information regarding the geographic areas of our operations is set forth below (in millions):
| Year Ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Operating revenues | |||||||||||||||||
| U.S. | $ | 1,109.2 | $ | 1,053.7 | $ | 1,068.1 | |||||||||||
| Foreign | 825.3 | 734.8 | 627.6 | ||||||||||||||
| $ | 1,934.5 | $ | 1,788.5 | $ | 1,695.7 | ||||||||||||
| December 31, | |||||||||||
| 2025 | 2024 | ||||||||||
| Long-lived assets | |||||||||||
| U.S. | $ | 935.0 | $ | 976.7 | |||||||
| Foreign | 735.9 | 761.3 | |||||||||
| $ | 1,670.9 | $ | 1,738.0 | ||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 18, 2026 | Showing above |
| 2024 | Feb 20, 2025 | |
| 2023 | Feb 21, 2024 | |
| 2022 | Mar 9, 2023 | |
| 2021 | Feb 23, 2022 | |
| 2020 | Feb 18, 2021 | |
| 2019 | Feb 19, 2020 | |
| 2018 | Feb 21, 2019 | |
| 2017 | Feb 21, 2018 | |
| 2016 | Feb 24, 2017 | |
| 2015 | Feb 18, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.