KAR Auction Services (KAR) 10-Q 7 Aug 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - $ / shares	6 Months Ended
	Jun. 30, 2019	Jul. 31, 2019	Dec. 31, 2018
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2019
Document Transition Report	false
Contained File Information, File Number	001-34568
Entity Registrant Name	KAR Auction Services, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-8744739
Entity Address, Address Line One	11299 N. Illinois Street
Entity Address, City or Town	Carmel
Entity Address, State or Province	IN
Entity Address, Postal Zip Code	46032
City Area Code	800
Local Phone Number	923-3725
Entity Interactive Data Current	Yes
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	KAR
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		133,475,296
Common stock, par value (in dollars per share)	$ 0.01		$ 0.01
Entity Central Index Key	0001395942
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Operating revenues
ADESA Auction Services	$ 632.4	$ 538.3	$ 1,232.1	$ 1,066.4
AFC	86.7	85.1	176.6	170.2
Total operating revenues	719.1	623.4	1,408.7	1,236.6
Operating expenses
Cost of services (exclusive of depreciation and amortization)	417.4	330.2	811.3	658.5
Selling, general and administrative	163.2	149.9	338.4	305.4
Depreciation and amortization	47.9	42.1	92.2	88.4
Total operating expenses	628.5	522.2	1,241.9	1,052.3
Operating profit	90.6	101.2	166.8	184.3
Interest expense	55.6	48.4	112.1	89.7
Other income, net	(1.1)	(0.5)	(3.2)	(0.8)
Income from continuing operations before income taxes	36.1	53.3	57.9	95.4
Income taxes	8.7	15.9	15.2	23.8
Income from continuing operations	27.4	37.4	42.7	71.6
Income from discontinued operations, net of income taxes	28.2	55.8	90.7	111.6
Net income	$ 55.6	$ 93.2	$ 133.4	$ 183.2
Net income per share - basic
Income from continuing operations	$ 0.21	$ 0.28	$ 0.32	$ 0.53
Income from discontinued operations	0.21	0.41	0.68	0.83
Net income	0.42	0.69	1	1.36
Net income per share - diluted
Income from continuing operations	0.20	0.28	0.32	0.53
Income from discontinued operations	0.21	0.41	0.68	0.82
Net income	0.41	0.69	1	1.35
Dividends declared per common share	$ 0.35	$ 0.35	$ 0.7	$ 0.7

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Net income	$ 55.6	$ 93.2	$ 133.4	$ 183.2
Other comprehensive income (loss)
Foreign currency translation gain (loss)	8.4	(11.4)	16.5	(18.3)
Comprehensive income	$ 64	$ 81.8	$ 149.9	$ 164.9

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Current assets
Cash and cash equivalents	$ 233	$ 277.1
Restricted cash	23.7	27.6
Trade receivables, net of allowances of $8.6 and $8.7	592.8	454.6
Finance receivables, net of allowances of $14.5 and $14.0	2,055.6	2,000.8
Other current assets	143.8	100.6
Current assets, discontinued operations	0	453.5
Total current assets	3,048.9	3,314.2
Other assets
Goodwill	1,817.6	1,676.9
Customer relationships, net of accumulated amortization of $613.3 and $587.0	231.1	227.4
Other intangible assets, net of accumulated amortization of $283.5 and $255.3	287.8	272.4
Operating lease right-of-use assets	370.5	0
Other assets	26.9	31
Non-current assets, discontinued operations	0	1,053.3
Total other assets	2,733.9	3,261
Property and equipment, net of accumulated depreciation of $502.4 and $467.5	595	631
Total assets	6,377.8	7,206.2
Current liabilities
Accounts payable	847.1	691.3
Accrued employee benefits and compensation expenses	68.7	72.8
Accrued interest	9.6	7.9
Other accrued expenses	226.1	132.8
Income taxes payable	1.1	0.7
Dividends payable	0	46.5
Obligations collateralized by finance receivables	1,422.3	1,445.3
Current maturities of long-term debt	93.5	13.1
Current liabilities, discontinued operations	0	214.4
Total current liabilities	2,668.4	2,624.8
Non-current liabilities
Long-term debt	1,390.8	2,654.3
Deferred income tax liabilities	130.3	125.3
Operating lease liabilities	365.5	0
Other liabilities	70.2	71.6
Non-current liabilities, discontinued operations	0	266
Total non-current liabilities	1,956.8	3,117.2
Commitments and contingencies (Note 10)
Stockholders' equity
Preferred stock, $0.01 par value: Authorized shares: 100,000,000; Issued shares: none	0	0
Common stock, $0.01 par value: Authorized shares: 400,000,000; Issued and outstanding shares: June 30, 2019: 133,445,058, December 31, 2018: 132,887,029	1.3	1.3
Additional paid-in capital	1,140.8	1,131.9
Retained earnings	644.9	392.3
Accumulated other comprehensive loss	(34.4)	(61.3)
Total stockholders' equity	1,752.6	1,464.2
Total liabilities and stockholders' equity	$ 6,377.8	$ 7,206.2

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Trade receivables, allowances (in dollars)	$ 8.6	$ 8.7
Finance receivables, allowances (in dollars)	14.5	14
Customer relationships, accumulated amortization (in dollars)	613.3	587
Other intangible assets, accumulated amortization (in dollars)	283.5	255.3
Property and equipment, accumulated depreciation (in dollars)	$ 502.4	$ 467.5
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, Authorized shares	100,000,000	100,000,000
Preferred stock, Issued shares	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, Authorized shares	400,000,000	400,000,000
Common stock, Issued shares	133,445,058	132,887,029
Common stock, outstanding shares	133,445,058	132,887,029

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Millions	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning Balance at Dec. 31, 2017	$ 1,484.9	$ 1.3	$ 1,251.8	$ 257	$ (25.2)
Beginning Balance (in shares) at Dec. 31, 2017		134,300,000
Increase (Decrease) in Stockholders' Equity
Cumulative effect adjustment for adoption of new accounting standard, net of tax	(3)			(3)
Net income	183.2			183.2
Other comprehensive income (loss)	(18.3)				(18.3)
Issuance of common stock under stock plans	8.4		8.4
Issuance of common stock under stock plans (in shares)		1,000,000
Surrender of RSUs for taxes	(10)		(10)
Surrender of RSUs for taxes (in shares)		(200,000)
Repurchase and retirement of common stock (in shares)		(900,000)
Repurchase and retirement of common stock	50		50
Stock-based compensation expense	11.5		11.5
Dividends earned under stock plan	0		1.9	(1.9)
Cash dividends declared to stockholders	(94.2)			(94.2)
Ending Balance at Jun. 30, 2018	1,512.5	$ 1.3	1,213.6	341.1	(43.5)
Ending Balance (in shares) at Jun. 30, 2018		134,200,000
Beginning Balance at Dec. 31, 2017	1,484.9	$ 1.3	1,251.8	257	(25.2)
Beginning Balance (in shares) at Dec. 31, 2017		134,300,000
Ending Balance at Dec. 31, 2018	$ 1,464.2	$ 1.3	1,131.9	392.3	(61.3)
Ending Balance (in shares) at Dec. 31, 2018	132,887,029	132,900,000
Beginning Balance at Mar. 31, 2018	$ 1,520.1	$ 1.3	1,255.9	295	(32.1)
Beginning Balance (in shares) at Mar. 31, 2018		135,000,000
Increase (Decrease) in Stockholders' Equity
Net income	93.2			93.2
Other comprehensive income (loss)	(11.4)				(11.4)
Issuance of common stock under stock plans	2.8		2.8
Issuance of common stock under stock plans (in shares)		200,000
Surrender of RSUs for taxes	(0.3)		(0.3)
Surrender of RSUs for taxes (in shares)		(100,000)
Repurchase and retirement of common stock (in shares)		(900,000)
Repurchase and retirement of common stock	50		50
Stock-based compensation expense	5.1		5.1
Dividends earned under stock plan	0		0.1	(0.1)
Cash dividends declared to stockholders	(47)			(47)
Ending Balance at Jun. 30, 2018	1,512.5	$ 1.3	1,213.6	341.1	(43.5)
Ending Balance (in shares) at Jun. 30, 2018		134,200,000
Beginning Balance at Dec. 31, 2018	$ 1,464.2	$ 1.3	1,131.9	392.3	(61.3)
Beginning Balance (in shares) at Dec. 31, 2018	132,887,029	132,900,000
Increase (Decrease) in Stockholders' Equity
Cumulative effect adjustment for adoption of new accounting standard, net of tax	$ 1.1			1.1
Net income	133.4			133.4
Other comprehensive income (loss)	16.5				16.5
Issuance of common stock under stock plans	5.4		5.4
Issuance of common stock under stock plans (in shares)		700,000
Surrender of RSUs for taxes	(10.4)		(10.4)
Surrender of RSUs for taxes (in shares)		(200,000)
Stock-based compensation expense	12.1		12.1
Distribution of IAA	223.6			213.2	10.4
Dividends earned under stock plan	0		1.8	(1.8)
Cash dividends declared to stockholders	(93.3)			(93.3)
Ending Balance at Jun. 30, 2019	$ 1,752.6	$ 1.3	1,140.8	644.9	(34.4)
Ending Balance (in shares) at Jun. 30, 2019	133,445,058	133,400,000
Beginning Balance at Mar. 31, 2019	$ 1,502.5	$ 1.3	1,131.5	422.9	(53.2)
Beginning Balance (in shares) at Mar. 31, 2019		133,300,000
Increase (Decrease) in Stockholders' Equity
Net income	55.6			55.6
Other comprehensive income (loss)	8.4				8.4
Issuance of common stock under stock plans	4.7		4.7
Issuance of common stock under stock plans (in shares)		100,000
Surrender of RSUs for taxes	(0.2)		(0.2)
Surrender of RSUs for taxes (in shares)		0
Stock-based compensation expense	4.7		4.7
Distribution of IAA	223.6			213.2	10.4
Dividends earned under stock plan	0		0.1	(0.1)
Cash dividends declared to stockholders	(46.7)			(46.7)
Ending Balance at Jun. 30, 2019	$ 1,752.6	$ 1.3	$ 1,140.8	$ 644.9	$ (34.4)
Ending Balance (in shares) at Jun. 30, 2019	133,445,058	133,400,000

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Cash dividends declared to stockholders (in dollars per share)	$ 0.35	$ 0.35	$ 0.7	$ 0.7

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Operating activities
Net income	$ 133.4	$ 183.2
Net income from discontinued operations	(90.7)	(111.6)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	92.2	88.4
Provision for credit losses	18.2	16.4
Deferred income taxes	3.6	1.5
Amortization of debt issuance costs	7.1	5.3
Stock-based compensation	10.3	9.6
Loss on disposal of fixed assets	0.1	0
Other non-cash, net	5.8	(4)
Changes in operating assets and liabilities, net of acquisitions:
Trade receivables and other assets	(145.7)	(161)
Accounts payable and accrued expenses	127.4	177.9
Net cash provided by operating activities - continuing operations	161.7	205.7
Net cash provided by operating activities - discontinued operations	155.8	166.7
Investing activities
Net increase in finance receivables held for investment	(69.8)	(63)
Acquisition of businesses (net of cash acquired)	(120.7)	(23.3)
Purchases of property, equipment and computer software	(78.4)	(51.4)
Net cash used by investing activities - continuing operations	(268.9)	(137.7)
Net cash used by investing activities - discontinued operations	(37.4)	(27.8)
Financing activities
Net increase in book overdrafts	44.1	13.2
Net increase in borrowings from lines of credit	93.5	0
Net (decrease) increase in obligations collateralized by finance receivables	(31)	1
Payments on long-term debt	(1,291.1)	(3.6)
Payments on capital leases	(6.9)	(7.6)
Payments of contingent consideration and deferred acquisition costs	(0.5)	(7.4)
Issuance of common stock under stock plans	5.4	8.4
Tax withholding payments for vested RSUs	(10.4)	(10)
Repurchase and retirement of common stock	0	(50)
Dividends paid to stockholders	(139.8)	(94.2)
Cash Transferred to IAA	(50.9)	0
Net cash used by financing activities - continuing operations	(1,387.6)	(150.2)
Net cash provided by (used by) financing activities - discontinued operations	1,317.6	(7.3)
Effect of exchange rate changes on cash	10.8	(9.8)
Net (decrease) increase in cash, cash equivalents and restricted cash	(48)	39.6
Cash, cash equivalents and restricted cash at beginning of period	304.7	303.5
Cash, cash equivalents and restricted cash at end of period	256.7	343.1
Cash paid for interest, net of proceeds from interest rate caps	98.2	88
Cash paid for taxes, net of refunds	20.5	39.3
Discontinued Operations
Cash paid for taxes, net of refunds	$ 40.1	$ 32.4

Basis of Presenation and Nature

Basis of Presenation and Nature of Operations	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Nature of Operations	Basis of Presentation and Nature of Operations Defined Terms Unless otherwise indicated or unless the context otherwise requires, the following terms used herein shall have the following meanings: • "we," "us," "our" and "the Company" refer, collectively, to KAR Auction Services, Inc. and all of its subsidiaries; • "ADESA" or "ADESA Auctions" refer, collectively, to ADESA, Inc., a wholly-owned subsidiary of KAR Auction Services, and ADESA, Inc.'s subsidiaries, including Openlane, Inc. (together with Openlane, Inc.'s subsidiaries, "Openlane"), Nth Gen Software Inc. ("TradeRev"), ADESA Remarketing Limited (formerly known as GRS Remarketing Limited ("GRS" or "ADESA Remarketing Limited")) and ADESA Europe (formerly known as CarsOnTheWeb ("COTW"); • "AFC" refers, collectively, to Automotive Finance Corporation, a wholly-owned subsidiary of ADESA, and Automotive Finance Corporation's subsidiaries and other related entities, including PWI Holdings, Inc.; • "Credit Agreement" refers to the Amended and Restated Credit Agreement, dated March 11, 2014, as amended on March 9, 2016 and May 31, 2017, among KAR Auction Services, as the borrower, the several banks and other financial institutions or entities from time to time parties thereto and the administrative agent; • "Credit Facility" refers to the seven-year senior secured term loan B-2 facility ("Term Loan B-2"), the seven-year senior secured term loan B-3 facility ("Term Loan B-3"), the senior secured term loan B-4 facility due March 11, 2021 ("Term Loan B-4"), the senior secured term loan B-5 facility due March 9, 2023 ("Term Loan B-5"), the $350 million , senior secured revolving credit facility due March 9, 2021 (the "revolving credit facility") and the $300 million , five-year senior secured revolving credit facility (the "2016 revolving credit facility"), the terms of which are set forth in the Credit Agreement. Term Loan B-2, Term Loan B-3 and the 2016 revolving credit facility were repaid in May 2017 with proceeds from Term Loan B-4, Term Loan B-5 and the senior notes (defined below); • "IAA" refers, collectively, to Insurance Auto Auctions, Inc., formerly a wholly-owned subsidiary of KAR Auction Services, and Insurance Auto Auctions, Inc.'s subsidiaries and other related entities, including HBC Vehicle Services Limited ("HBC"). See Note 3; • "KAR Auction Services" refers to KAR Auction Services, Inc. and not to its subsidiaries; and • "Senior notes" refers to the 5.125% senior notes due 2025 ( $950 million aggregate principal outstanding at June 30, 2019). Business and Nature of Operations ADESA is a leading, national provider of wholesale vehicle auctions and related vehicle remarketing services for the automotive industry in North America. As of June 30, 2019 , we have a North American network of 74 ADESA whole car auction sites and we also offer online auctions. ADESA also includes TradeRev, an online automotive remarketing system where dealers can launch and participate in real-time vehicle auctions at any time, ADESA Remarketing Limited, an online whole car vehicle remarketing business in the United Kingdom and ADESA Europe (formerly known as CarsOnTheWeb), an online wholesale vehicle auction marketplace in Continental Europe. Our auctions facilitate the sale of used vehicles through physical, online or hybrid auctions, which permit Internet buyers to participate in physical auctions. ADESA's online service offerings include customized private label solutions powered with software developed by its wholly-owned subsidiary, Openlane, that allow our institutional consignors (automobile manufacturers, captive finance companies and other institutions) to offer vehicles via the Internet prior to arrival at the physical auction. Remarketing services include a variety of activities designed to transfer used and salvage vehicles between sellers and buyers throughout the vehicle life cycle. ADESA facilitates the exchange of these vehicles through an auction marketplace, which aligns sellers and buyers. As an agent for customers, the Company generally does not take title to or ownership of vehicles sold at the auctions. Generally, fees are earned from the seller and buyer on each successful auction transaction in addition to fees earned for ancillary services. ADESA has the second largest used vehicle auction network in North America, based upon the number of used vehicles sold through auctions annually, and also provides services such as inbound and outbound transportation logistics, reconditioning, vehicle inspection and certification, titling, administrative and collateral recovery services. ADESA is able to serve the diverse and multi-faceted needs of its customers through the wide range of services offered. AFC is a leading provider of floorplan financing to independent used vehicle dealers and this financing is provided through 125 locations throughout the United States and Canada as of June 30, 2019 . Floorplan financing supports independent used vehicle dealers in North America who purchase vehicles at ADESA, IAA, TradeRev, other used vehicle and salvage auctions and non-auction purchases. In addition to floorplan financing, AFC also provides independent used vehicle dealers with other related services and products, such as vehicle service contracts. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by U.S. GAAP for annual financial statements. Operating results for interim periods are not necessarily indicative of results that may be expected for the year as a whole. In the opinion of management, the consolidated financial statements reflect all adjustments, generally consisting of normal recurring accruals, necessary for a fair statement of our results of operations, cash flows and financial position for the periods presented. These consolidated financial statements and condensed notes to consolidated financial statements are unaudited and should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2018, as filed with the Securities and Exchange Commission on February 21, 2019. The 2018 year-end consolidated balance sheet data included in this Form 10-Q was derived from the audited financial statements referenced above and does not include all disclosures required by U.S. GAAP for annual financial statements. Reclassifications Certain amounts reported in the consolidated financial statements prior to June 2019 have been reclassified to discontinued operations to reflect the spin-off of the Company's former salvage auction business. In addition, certain amounts reported for segment results in the consolidated financial statements prior to June 2019 have been reclassified to conform to a discontinued operations presentation. See Note 3 for a discussion of discontinued operations. Use of Estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates based in part on assumptions about current, and for some estimates, future economic and market conditions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the period. Although the current estimates contemplate current conditions and expected future changes, as appropriate, it is reasonably possible that future conditions could differ from these estimates, which could materially affect our results of operations and financial position. Among other effects, such changes could result in future impairments of goodwill, intangible assets and long-lived assets, incremental losses on finance receivables, additional allowances on accounts receivable and deferred tax assets and changes in litigation and other loss contingencies. Leases In February 2016, the Financial Accounting Standards Board ("FASB") issued ASU 2016-02, Leases (Topic 842) , which replaces the existing lease guidance in Topic 840. The ASU is intended to provide enhanced transparency and comparability by requiring lessees to record right-of-use ("ROU") assets and corresponding lease liabilities on the balance sheet, with an exception for leases that meet the definition of a short-term lease. The new guidance continues to classify leases as either finance or operating, with classification affecting the pattern of expense recognition in the statement of income. We adopted Topic 842 in the first quarter of 2019 and as permitted by ASU 2018-11, Leases (Topic 842): Targeted Improvements , we applied the new standard at the adoption date and recognized the cumulative-effect of initially applying the new standard as an increase of $1.1 million to the opening balance of retained earnings. The cumulative-effect adjustment related to the derecognition of existing fixed assets for which we were determined to be the accounting owner under Topic 840 and related liabilities associated with certain sale leaseback transactions in build-to-suit arrangements that did not qualify for sale accounting under Topic 840. Depreciation related to these fixed assets was recorded consistently with owned property and equipment in depreciation expense. In accordance with Topic 842, the lease agreements associated with the derecognized fixed assets and related liabilities generated ROU assets and lease liabilities that will be amortized to lease expense over the lease term. In addition, we recognized additional operating liabilities for continuing operations of approximately $342 million with related ROU assets of approximately $314 million based on the present value of the remaining minimum rental payments for existing operating leases. Our Credit Agreement specifies that the net debt covenant shall continue to be calculated as if the accounting standard had not been adopted and that we could enter into negotiations to amend such provisions in the Credit Agreement so as to equitably reflect such changes with the desired result that the criteria for evaluating our financial condition would be the same after the change as if such change had not been made. We determine if an arrangement is a lease at inception. Operating leases are included in “Operating lease right-of-use assets,” “Other accrued expenses” and “Operating lease liabilities” in our consolidated balance sheets. Finance leases are included in “Property and equipment, net,” “Other accrued expenses” and “Other liabilities” in our consolidated balance sheets. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and operating lease liabilities are recognized at the commencement date based on the present value of the lease payments over the lease term. As most of our leases do not provide an implicit interest rate, we use our incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. We use the implicit rate when readily determinable. The operating lease ROU assets also include any lease payments made and exclude lease incentives and initial direct costs incurred. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. We have lease agreements with lease and non-lease components, which are generally accounted for separately. For certain equipment leases, we account for the lease and non-lease components as a single lease component. New Accounting Standards In August 2018, the FASB issued ASU 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract, which aligns the requirements for capitalizing implementation costs incurred in a cloud computing arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The new guidance is effective for annual periods beginning after December 15, 2019, including interim periods within those fiscal years. The Company is currently evaluating the impact the adoption of ASU 2018-15 will have on the consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, which simplifies the test for goodwill impairment by eliminating Step 2 (implied fair value measurement). Instead goodwill impairment would be measured as the amount by which a reporting unit's carrying amount exceeds its fair value, not to exceed the carrying amount of goodwill. The new guidance is effective for annual periods beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted. We do not expect the adoption of ASU 2017-04 will have a material impact on the consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The update changes the methodology for measuring credit losses on financial instruments and the timing of when such losses are recorded. The new guidance is effective for annual periods beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted beginning in annual periods beginning after December 15, 2018, including interim periods within those fiscal years. The Company is currently evaluating the impact the adoption of ASU 2016-13 will have on the consolidated financial statements, however we do not expect that it will have a material impact on the consolidated financial statements based on the short-term nature of AFC's loans.

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2019
Business Combinations [Abstract]
Acquisitions	Acquisitions In January 2019, the Company completed the acquisition of Dent-ology. Dent-ology enhances our mobile reconditioning capabilities and bolsters our offerings to include wheel repair and expanded hail catastrophe response services. In January 2019, the Company also completed the acquisition of CarsOnTheWeb. COTW is an online auction company serving the wholesale vehicle sector in Continental Europe that seamlessly connects OEMs, fleet owners, wholesalers and dealers. The acquisition advances KAR’s international strategy and extends its strong North American and U.K.-based portfolio of physical, online and digital auction marketplaces. Certain of the purchase agreements included additional payments over a specified period contingent on certain terms, conditions and performance. The purchased assets included accounts receivable, inventory, property and equipment, customer relationships, tradenames and software. Financial results for each acquisition have been included in our consolidated financial statements from the date of acquisition. The aggregate purchase price for the businesses acquired in the first six months of 2019, net of cash acquired, was approximately $169.2 million , which included net cash payments of $120.7 million , deferred payments with a fair value of $19.2 million and estimated contingent payments with a fair value of $29.3 million . The maximum amount of undiscounted deferred payments and undiscounted contingent payments related to these acquisitions could approximate $52.0 million . The purchase price for the acquired businesses was allocated to acquired assets and liabilities based upon fair values, including $32.7 million to intangible assets, representing the fair value of acquired customer relationships of $26.4 million , software of $4.3 million and tradenames of $2.0 million , which are being amortized over their expected useful lives. The purchase accounting associated with these acquisitions is preliminary, subject to final valuation results. The acquisitions resulted in aggregate goodwill of $138.4 million . The goodwill is recorded in the ADESA Auctions reportable segment. The financial impact of these acquisitions, including pro forma financial results, was immaterial to the Company’s consolidated results for the six months ended June 30, 2019 .

IAA Separation and Discontinued

IAA Separation and Discontinued Operations	6 Months Ended
	Jun. 30, 2019
Discontinued Operations [Abstract]
IAA Separation and Discontinued Operations	IAA Separation and Discontinued Operations In February 2018, the Company announced that its board of directors had approved a plan to pursue the separation ("Separation") of its salvage auction business, IAA, through a spin-off. On June 28, 2019, the Company completed the spin-off, creating a new independent publicly traded company, IAA, Inc. ("IAA"). The Separation provided KAR shareholders with equity ownership in both KAR and IAA. On June 28, 2019, the Company’s shareholders received one share of IAA common stock for every share of Company common stock they held as of the close of business on June 18, 2019, the record date for the distribution. In addition to the shares of IAA common stock, KAR received a cash distribution of approximately $1,278.0 million from IAA, which was used to prepay a portion of KAR's term loans. In connection with the spin-off, the Company and IAA entered into various agreements to effect the Separation and provide a framework for their relationship after the Separation, including a separation and distribution agreement, a transition services agreement, an employee matters agreement and a tax matters agreement. These agreements provide for the allocation between the Company and IAA of assets, employees, liabilities and obligations (including investments, property, environmental and tax-related assets and liabilities) attributable to periods prior to, at and after IAA's Separation from the Company and will govern certain relationships between IAA and the Company after the Separation. The financial results of IAA have been accounted for as discontinued operations for all periods presented. IAA was formerly presented as one of the Company’s reportable segments. Discontinued operations included one-time transaction costs in "Selling, general and administrative" of approximately $30.5 million and $31.3 million for the three and six months ended June 30, 2019, respectively, in connection with the separation of the two companies. These costs consisted of consulting and professional fees associated with preparing for and executing the spin-off. The following table presents the results of operations for IAA that have been reclassified to discontinued operations for all periods presented: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Operating revenues $ 366.4 $ 333.2 $ 723.6 $ 670.5 Operating expenses Cost of services (exclusive of depreciation and amortization) 227.7 201.1 446.1 407.8 Selling, general and administrative 62.1 32.8 94.5 64.8 Depreciation and amortization 22.1 24.7 43.9 48.8 Total operating expenses 311.9 258.6 584.5 521.4 Operating profit 54.5 74.6 139.1 149.1 Interest expense 2.4 0.2 2.7 0.4 Other income, net (0.1 ) (0.7 ) — (0.7 ) Income from discontinued operations before income taxes 52.2 75.1 136.4 149.4 Income taxes 24.0 19.3 45.7 37.8 Income from discontinued operations $ 28.2 $ 55.8 $ 90.7 $ 111.6 The following table summarizes the major classes of assets and liabilities immediately preceding the spin-off on June 28, 2019 and at December 31, 2018: June 28, 2019 December 31, 2018 Assets Cash and cash equivalents $ 50.9 $ 60.0 Trade receivables, net 284.7 311.0 Other current assets 83.6 82.5 Goodwill 536.8 536.8 Customer relationships, net 62.2 74.8 Other intangible assets, net 87.5 86.2 Operating lease right-of-use assets 655.2 — Other assets 13.3 10.3 Property and equipment, net 241.4 345.2 Total assets, discontinued operations $ 2,015.6 $ 1,506.8 Liabilities Accounts payable $ 115.8 $ 129.0 Accrued employee benefits and compensation expenses 19.0 29.6 Other accrued expenses 120.9 53.6 Income taxes payable — 2.2 Long-term debt 1,274.8 — Deferred income tax liabilities 63.7 63.1 Operating lease liabilities 633.0 — Other liabilities 12.0 202.9 Total liabilities, discontinued operations $ 2,239.2 $ 480.4

Stock and Stock-Based Compensat

Stock and Stock-Based Compensation Plans	6 Months Ended
	Jun. 30, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock and Stock-Based Compensation Plans	Stock and Stock-Based Compensation Plans The KAR Auction Services, Inc. 2009 Omnibus Stock and Incentive Plan ("Omnibus Plan") is intended to provide equity and/or cash-based awards to our executive officers and key employees. Our stock-based compensation expense includes expense associated with KAR Auction Services, Inc. performance-based restricted stock units ("PRSUs"), service-based restricted stock units ("RSUs") and service options. We have determined that the KAR Auction Services, Inc. PRSUs, RSUs and service options should be classified as equity awards. The following table summarizes our stock-based compensation expense by type of award (in millions) : Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 PRSUs $ 1.3 $ 1.9 $ 4.9 $ 5.1 RSUs 2.6 2.2 5.4 4.4 Service options — — — 0.1 Total stock-based compensation expense $ 3.9 $ 4.1 $ 10.3 $ 9.6 PRSUs and RSUs In the first six months of 2019, we granted a target amount of approximately 0.3 million PRSUs to certain executive officers and management of the Company. The PRSUs vest if and to the extent that the Company's three-year cumulative operating adjusted net income per share attains certain specified goals. In addition, approximately 0.3 million RSUs were granted to certain executive officers and management of the Company. The RSUs are contingent upon continued employment and generally vest in three equal annual installments. The weighted average grant date fair value of the PRSUs and the RSUs was $47.23 per share and $47.63 per share, respectively, which was determined using the closing price of the Company's common stock on the dates of grant. In connection with the spin-off of IAA, the Company is modifying its stock-based compensation awards under the equity adjustment clause in the Omnibus Plan, which provides antidilution protection. Share Repurchase Program In October 2016, the board of directors authorized a repurchase of up to $500 million of the Company’s outstanding common stock, par value $0.01 per share, through October 26, 2019 . Repurchases may be made in the open market or through privately negotiated transactions, in accordance with applicable securities laws and regulations, including pursuant to repurchase plans designed to comply with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. The timing and amount of any repurchases is subject to market and other conditions. No shares of common stock were repurchased during the six months ended June 30, 2019 . In 2018, we repurchased and retired 2,695,978 shares of common stock in the open market at a weighted average price of $55.64 per share. Approximately $119.7 million of the Company's common stock remains available for repurchase under the October 2016 authorization.

Net Income from Continuing Oper

Net Income from Continuing Operations Per Share	6 Months Ended
	Jun. 30, 2019
Earnings Per Share, Basic and Diluted [Abstract]
Net income from continuing operations per share	Net Income from Continuing Operations Per Share The following table sets forth the computation of net income from continuing operations per share (in millions except per share amounts) : Three Months Ended Six Months Ended June 30, 2019 2018 2019 2018 Net income from continuing operations $ 27.4 $ 37.4 $ 42.7 $ 71.6 Weighted average common shares outstanding 133.4 134.6 133.2 134.6 Effect of dilutive stock options and restricted stock awards 0.7 1.0 0.7 1.2 Weighted average common shares outstanding and potential common shares 134.1 135.6 133.9 135.8 Net income from continuing operations per share Basic $ 0.21 $ 0.28 $ 0.32 $ 0.53 Diluted $ 0.20 $ 0.28 $ 0.32 $ 0.53 Basic net income from continuing operations per share was calculated by dividing net income from continuing operations by the weighted average number of outstanding common shares for the period. Diluted net income from continuing operations per share was calculated consistent with basic net income from continuing operations per share including the effect of dilutive unissued common shares related to our stock-based employee compensation program. The effect of stock options and restricted stock on net income from continuing operations per share-diluted is determined through the application of the treasury stock method, whereby net proceeds received by the Company based on assumed exercises are hypothetically used to repurchase our common stock at the average market price during the period. Stock options that would have an anti-dilutive effect on net income from continuing operations per diluted share and PRSUs subject to performance conditions which have not yet been satisfied are excluded from the calculations. No options were excluded from the calculation of diluted net income from continuing operations per share for each of the three or six months ended June 30, 2019 and 2018 . In addition, approximately 0.8 million and 0.7 million PRSUs were excluded from the calculation of diluted net income from continuing operations per share for the three months ended June 30, 2019 and 2018 , respectively, and approximately 0.8 million and 0.7 million PRSUs were excluded from the calculation of diluted net income from continuing operations per share for the six months ended June 30, 2019 and 2018, respectively. Total options outstanding at June 30, 2019 and 2018 were 0.8 million and 1.4 million , respectively.

Finance Receivables and Obligat

Finance Receivables and Obligations Collateralized by Finance Receivables	6 Months Ended
	Jun. 30, 2019
Notes, Loans and Financing Receivable, Net, Current [Abstract]
Finance Receivables and Obligations Collateralized by Finance Receivables	Finance Receivables and Obligations Collateralized by Finance Receivables AFC sells the majority of its U.S. dollar denominated finance receivables on a revolving basis and without recourse to a wholly-owned, bankruptcy remote, consolidated, special purpose subsidiary ("AFC Funding Corporation"), established for the purpose of purchasing AFC's finance receivables. A securitization agreement allows for the revolving sale by AFC Funding Corporation to a group of bank purchasers of undivided interests in certain finance receivables subject to committed liquidity. The agreement expires on January 28, 2022. AFC Funding Corporation had committed liquidity of $1.70 billion for U.S. finance receivables at June 30, 2019 . We also have an agreement for the securitization of Automotive Finance Canada Inc.'s ("AFCI") receivables which expires on January 28, 2022. AFCI's committed facility is provided through a third-party conduit (separate from the U.S. facility) and was C$175 million at June 30, 2019 . The receivables sold pursuant to both the U.S. and Canadian securitization agreements are accounted for as secured borrowings. The following tables present quantitative information about delinquencies, credit losses less recoveries ("net credit losses") and components of securitized financial assets and other related assets managed. For purposes of this illustration, delinquent receivables are defined as receivables 31 days or more past due. June 30, 2019 Net Credit Losses Three Months Ended June 30, 2019 Net Credit Losses Six Months Ended June 30, 2019 Total Amount of: (in millions) Receivables Receivables Delinquent Floorplan receivables $ 2,057.4 $ 12.3 $ 8.2 $ 16.2 Other loans 12.7 — — — Total receivables managed $ 2,070.1 $ 12.3 $ 8.2 $ 16.2 December 31, 2018 Net Credit Losses Three Months Ended June 30, 2018 Net Credit Losses Six Months Ended June 30, 2018 Total Amount of: (in millions) Receivables Receivables Delinquent Floorplan receivables $ 2,001.9 $ 15.9 $ 6.8 $ 14.2 Other loans 12.9 — — — Total receivables managed $ 2,014.8 $ 15.9 $ 6.8 $ 14.2 AFC's allowance for losses was $14.5 million and $14.0 million at June 30, 2019 and December 31, 2018 , respectively. As of June 30, 2019 and December 31, 2018 , $2,008.0 million and $1,973.2 million , respectively, of finance receivables and a cash reserve of 1 percent of the obligations collateralized by finance receivables served as security for the obligations collateralized by finance receivables. Obligations collateralized by finance receivables consisted of the following: June 30, December 31, Obligations collateralized by finance receivables, gross $ 1,438.7 $ 1,464.7 Unamortized securitization issuance costs (16.4 ) (19.4 ) Obligations collateralized by finance receivables $ 1,422.3 $ 1,445.3 Proceeds from the revolving sale of receivables to the bank facilities are used to fund new loans to customers. AFC, AFC Funding Corporation and AFCI must maintain certain financial covenants including, among others, limits on the amount of debt AFC and AFCI can incur, minimum levels of tangible net worth, and other covenants tied to the performance of the finance receivables portfolio. The securitization agreements also incorporate the financial covenants of our Credit Facility. At June 30, 2019 , we were in compliance with the covenants in the securitization agreements.

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2019
Long-term Debt, Unclassified [Abstract]
Long-Term Debt	Long-Term Debt Long-term debt consisted of the following (in millions) : Interest Rate* Maturity June 30, December 31, Term Loan B-4 Adjusted LIBOR + 2.25% March 11, 2021 $ 184.8 $ 704.4 Term Loan B-5 Adjusted LIBOR + 2.50% March 9, 2023 270.7 1,031.5 Revolving credit facility Adjusted LIBOR + 2.0% March 9, 2021 72.0 — Senior notes 5.125% June 1, 2025 950.0 950.0 European lines of credit Euribor + 1.25% Repayable upon demand 21.5 — Canadian line of credit CAD Prime + 0.50% Repayable upon demand — — Total debt 1,499.0 2,685.9 Unamortized debt issuance costs (14.7 ) (18.5 ) Current portion of long-term debt (93.5 ) (13.1 ) Long-term debt $ 1,390.8 $ 2,654.3 *The interest rates presented in the table above represent the rates in place at June 30, 2019 . Credit Facility On May 31, 2017, we entered into an Incremental Commitment Agreement and Second Amendment (the "Second Amendment") to the Credit Agreement. The Second Amendment provided for, among other things, (i) the refinancing and repricing of the existing tranche B-2 term loans ("Term Loan B-2") remaining after the repayment with new tranche B-4 term loans in an aggregate principal amount of $717 million ("Term Loan B-4"), (ii) the refinancing and repricing of existing tranche B-3 term loans ("Term Loan B-3") remaining after the repayment with new tranche B-5 term loans in an aggregate principal amount of $1.05 billion ("Term Loan B-5") and (iii) a $350 million senior secured revolving credit facility (the "revolving credit facility"). In June 2019, the Company prepaid approximately $518.6 million and $759.4 million of Term Loan B-4 and Term Loan B-5, respectively. The prepayments were applied to the remaining quarterly installments of each term loan. As such, no further principal payments are required on either term loan until maturity. In addition, as a result of the term loan prepayments in the second quarter of 2019, the Company recorded additional interest expense of approximately $1.8 million related to the acceleration of amortization on debt issuance costs. The Credit Facility is available for letters of credit, working capital, permitted acquisitions and general corporate purposes. The Company also pays a commitment fee of 30 to 35 basis points, payable quarterly, on the average daily unused amount of the revolving credit facility. The rates on Term Loan B-4 and Term Loan B-5 were 4.63% and 4.88% at June 30, 2019 , respectively. The obligations of the Company under the Credit Facility are guaranteed by certain of our domestic subsidiaries (the "Subsidiary Guarantors") and are secured by substantially all of the assets of the Company and the Subsidiary Guarantors, including but not limited to: (a) pledges of and first priority perfected security interests in 100% of the equity interests of certain of the Company's and the Subsidiary Guarantors' domestic subsidiaries and 65% of the equity interests of certain of the Company's and the Subsidiary Guarantors' first tier foreign subsidiaries and (b) perfected first priority security interests in substantially all other tangible and intangible assets of the Company and each Subsidiary Guarantor, subject to certain exceptions. The Credit Agreement contains affirmative and negative covenants that we believe are usual and customary for a senior secured credit agreement. The negative covenants include, among other things, limitations on asset sales, mergers and acquisitions, indebtedness, liens, dividends, investments and transactions with our affiliates. The Credit Agreement also requires us to maintain a maximum leverage ratio, provided there are revolving loans outstanding. We were in compliance with the covenants in the Credit Agreement at June 30, 2019 . On June 30, 2019, $72.0 million was drawn on the revolving credit facility and there were no borrowings on the revolving credit facility at December 31, 2018 . In addition, we had related outstanding letters of credit in the aggregate amount of $32.5 million and $32.9 million at June 30, 2019 and December 31, 2018 , respectively, which reduce the amount available for borrowings under the revolving credit facility. The $72.0 million of outstanding borrowings under the revolving credit facility have been classified as current debt as the Company intends to repay the outstanding borrowings within the next twelve months. European Lines of Credit COTW has lines of credit aggregating €30 million . The lines of credit have an interest rate of Euribor plus 1.25% and had an aggregate $21.5 million of borrowings outstanding at June 30, 2019 . The lines of credit are guaranteed by certain COTW subsidiaries. In addition, as part of the acquisition of COTW, we assumed debt of approximately $10.7 million which was paid off in the first quarter of 2019. Fair Value of Debt As of June 30, 2019 , the estimated fair value of our long-term debt amounted to $1,512.0 million . The estimates of fair value were based on broker-dealer quotes for our debt as of June 30, 2019 . The estimates presented on long-term financial instruments are not necessarily indicative of the amounts that would be realized in a current market exchange.

Derivatives

Derivatives	6 Months Ended
	Jun. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives We are exposed to interest rate risk on our variable rate borrowings. Accordingly, interest rate fluctuations affect the amount of interest expense we are obligated to pay. We use interest rate derivatives with the objective of managing exposure to interest rate movements, thereby reducing the effect of interest rate changes and the effect they could have on future cash flows. Currently, interest rate cap agreements are used to accomplish this objective. • In August 2017, we entered into two interest rate caps with an aggregate notional amount of $800 million to manage our exposure to interest rate movements on our variable rate Credit Facility when three-month LIBOR exceeds 2.0% . The interest rate cap agreements each had an effective date of September 30, 2017 and each mature on September 30, 2019. We paid an aggregate amount of approximately $1.0 million for the caps in August 2017. • In March 2017, we entered into two interest rate caps with an aggregate notional amount of $400 million to manage our exposure to interest rate movements on our variable rate Credit Facility when three-month LIBOR exceeded 2.0% . The interest rate cap agreements each had an effective date of March 31, 2017 and each matured on March 31, 2019. We paid an aggregate amount of approximately $0.7 million for the caps in April 2017. We are exposed to credit loss in the event of non-performance by the counterparties; however, non-performance is not anticipated. ASC 815, Derivatives and Hedging , requires companies to recognize all derivative instruments as either assets or liabilities at fair value in the balance sheet. The fair values of the interest rate derivatives are based on quoted market prices for similar instruments from commercial banks. The following table presents the fair value of our interest rate derivatives included in the consolidated balance sheets for the periods presented ( in millions ): Asset Derivatives June 30, 2019 December 31, 2018 Derivatives Not Designated as Hedging Instruments Balance Sheet Location Fair Value Balance Sheet Location Fair Value 2017 Interest rate caps Other assets $ 0.7 Other assets $ 5.2 We have not designated any of the interest rate caps as hedges for accounting purposes. Accordingly, changes in the fair value of the interest rate caps are recognized as "Interest expense" in the consolidated statement of income. The following table presents the effect of the interest rate derivatives on our consolidated statements of income for the periods presented ( in millions ): Amount of Gain / (Loss) Recognized in Income on Derivatives Derivatives Not Designated Location of Gain / (Loss) Recognized Three Months Ended Six Months Ended June 30, as Hedging Instruments in Income on Derivatives 2019 2018 2019 2018 2017 Interest rate caps Interest expense $ (0.4 ) $ 1.4 $ (0.9 ) $ 6.1

Leases

Leases	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Leases	Leases We lease property, software, automobiles, trucks and trailers pursuant to operating lease agreements. We also lease furniture, fixtures and equipment under finance leases. Our leases have varying remaining lease terms with leases expiring through 2038, some of which include options to extend the leases. The components of lease expense were as follows ( in millions ): Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Operating lease cost $ 14.6 $ 29.0 Finance lease cost: Amortization of right-of-use assets $ 3.6 $ 7.4 Interest on lease liabilities 0.3 0.7 Total finance lease cost $ 3.9 $ 8.1 Supplemental cash flow information related to leases was as follows ( in millions ): Six Months Ended June 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows related to operating leases $ 28.5 Operating cash flows related to finance leases 0.7 Financing cash flows related to finance leases 15.2 Right-of-use assets obtained in exchange for lease obligations: Operating leases 15.6 Finance leases 6.8 Supplemental balance sheet information related to leases was as follows ( in millions, except lease term and discount rate ): June 30, 2019 Operating Leases Operating lease right-of-use assets $ 370.5 Other accrued expenses $ 32.9 Operating lease liabilities 365.5 Total operating lease liabilities $ 398.4 Finance Leases Property and equipment, gross $ 91.2 Accumulated depreciation (66.9 ) Property and equipment, net $ 24.3 Other accrued expenses $ 12.0 Other liabilities 13.0 Total finance lease liabilities $ 25.0 Weighted Average Remaining Lease Term Operating leases 10.6 years Finance leases 2.1 years Weighted Average Discount Rate Operating leases 6.1 % Finance leases 4.8 % Maturities of lease liabilities as of June 30, 2019 were as follows ( in millions ): Operating Finance Leases 2019 (excluding the six months ended June 30, 2019) $ 28.8 $ 13.2 2020 53.8 6.7 2021 51.4 6.3 2022 49.3 0.6 2023 47.6 0.1 Thereafter 328.0 — Total lease payments 558.9 26.9 Less imputed interest (160.5 ) (1.9 ) Total $ 398.4 $ 25.0

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies We are involved in litigation and disputes arising in the ordinary course of business, such as actions related to injuries; property damage; handling, storage or disposal of vehicles; environmental laws and regulations; and other litigation incidental to the business such as employment matters and dealer disputes. Management considers the likelihood of loss or the incurrence of a liability, as well as the ability to reasonably estimate the amount of loss, in determining loss contingencies. We accrue an estimated loss contingency when it is probable that a liability has been incurred and the amount of loss (or range of possible losses) can be reasonably estimated. Management regularly evaluates current information available to determine whether accrual amounts should be adjusted. Accruals for contingencies including litigation and environmental matters are included in "Other accrued expenses" at undiscounted amounts and exclude claims for recoveries from insurance or other third parties. These accruals are adjusted periodically as assessment and remediation efforts progress, or as additional technical or legal information becomes available. If the amount of an actual loss is greater than the amount accrued, this could have an adverse impact on our operating results in that period. Such matters are generally not, in the opinion of management, likely to have a material adverse effect on our financial condition, results of operations or cash flows. Legal fees are expensed as incurred. There has been no significant change in the legal and regulatory proceedings related to continuing operations which were disclosed in our Annual Report on Form 10-K for the year ended December 31, 2018 .

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2019
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Loss Accumulated other comprehensive loss consisted of the following ( in millions ): June 30, December 31, Foreign currency translation loss $ (34.4 ) $ (61.3 ) Accumulated other comprehensive loss $ (34.4 ) $ (61.3 )

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Segment Information	Segment Information ASC 280, Segment Reporting , requires reporting of segment information that is consistent with the manner in which the chief operating decision maker operates and views the Company. Prior to the spin-off of IAA, our operations were grouped into three operating segments: ADESA Auctions, IAA and AFC, which also served as our reportable business segments. Beginning in the second quarter of 2019, after the completion of the spin-off, the Company began operating under two reportable business segments: ADESA Auctions and AFC. These reportable business segments offer different services and have fundamental differences in their operations. Results of the former IAA segment and spin-related costs are now reported as discontinued operations (see Note 3). Segment results for prior periods have been reclassified to conform with the new presentation of segments. The holding company is maintained separately from the reportable segments and includes expenses associated with the corporate offices, such as salaries, benefits and travel costs for the corporate management team, certain human resources, information technology and accounting costs, and certain insurance, treasury, legal and risk management costs. Holding company interest expense includes the interest expense incurred on capital leases and the corporate debt structure. Intercompany charges relate primarily to interest on intercompany debt or receivables and certain administrative costs allocated by the holding company. Financial information regarding our reportable segments is set forth below as of and for the three months ended June 30, 2019 (in millions) : ADESA AFC Holding Consolidated Operating revenues $ 632.4 $ 86.7 $ — $ 719.1 Operating expenses Cost of services (exclusive of depreciation and amortization) 392.9 24.5 — 417.4 Selling, general and administrative 121.9 6.4 34.9 163.2 Depreciation and amortization 38.0 2.6 7.3 47.9 Total operating expenses 552.8 33.5 42.2 628.5 Operating profit (loss) 79.6 53.2 (42.2 ) 90.6 Interest expense 1.0 16.2 38.4 55.6 Other (income) expense, net (1.3 ) (0.1 ) 0.3 (1.1 ) Intercompany expense (income) 7.6 (1.6 ) (6.0 ) — Income (loss) from continuing operations before income taxes 72.3 38.7 (74.9 ) 36.1 Income taxes 21.8 11.3 (24.4 ) 8.7 Net income (loss) from continuing operations $ 50.5 $ 27.4 $ (50.5 ) $ 27.4 Total assets $ 3,717.0 $ 2,495.1 $ 165.7 $ 6,377.8 Financial information regarding our reportable segments is set forth below as of and for the three months ended June 30, 2018 (in millions) : ADESA Auctions AFC Holding Company Consolidated Operating revenues $ 538.3 $ 85.1 $ — $ 623.4 Operating expenses Cost of services (exclusive of depreciation and amortization) 307.2 23.0 — 330.2 Selling, general and administrative 108.3 7.5 34.1 149.9 Depreciation and amortization 31.3 3.5 7.3 42.1 Total operating expenses 446.8 34.0 41.4 522.2 Operating profit (loss) 91.5 51.1 (41.4 ) 101.2 Interest expense 0.6 14.8 33.0 48.4 Other (income) expense, net (0.2 ) — (0.3 ) (0.5 ) Intercompany expense (income) 7.6 (0.7 ) (6.9 ) — Income (loss) from continuing operations before income taxes 83.5 37.0 (67.2 ) 53.3 Income taxes 23.5 9.3 (16.9 ) 15.9 Net income (loss) from continuing operations $ 60.0 $ 27.7 $ (50.3 ) $ 37.4 Total assets $ 3,171.6 $ 2,354.1 $ 246.9 $ 5,772.6 Financial information regarding our reportable segments is set forth below as of and for the six months ended June 30, 2019 (in millions) : ADESA AFC Holding Consolidated Operating revenues $ 1,232.1 $ 176.6 $ — $ 1,408.7 Operating expenses Cost of services (exclusive of depreciation and amortization) 763.6 47.7 — 811.3 Selling, general and administrative 248.5 13.6 76.3 338.4 Depreciation and amortization 73.0 5.0 14.2 92.2 Total operating expenses 1,085.1 66.3 90.5 1,241.9 Operating profit (loss) 147.0 110.3 (90.5 ) 166.8 Interest expense 1.7 33.3 77.1 112.1 Other (income) expense, net (3.2 ) (0.2 ) 0.2 (3.2 ) Intercompany expense (income) 17.9 (2.8 ) (15.1 ) — Income (loss) from continuing operations before income taxes 130.6 80.0 (152.7 ) 57.9 Income taxes 37.7 22.1 (44.6 ) 15.2 Net income (loss) from continuing operations $ 92.9 $ 57.9 $ (108.1 ) $ 42.7 Financial information regarding our reportable segments is set forth below as of and for the six months ended June 30, 2018 (in millions) : ADESA Auctions AFC Holding Company Consolidated Operating revenues $ 1,066.4 $ 170.2 $ — $ 1,236.6 Operating expenses Cost of services (exclusive of depreciation and amortization) 613.2 45.3 — 658.5 Selling, general and administrative 217.1 15.5 72.8 305.4 Depreciation and amortization 62.5 11.3 14.6 88.4 Total operating expenses 892.8 72.1 87.4 1,052.3 Operating profit (loss) 173.6 98.1 (87.4 ) 184.3 Interest expense 1.2 28.2 60.3 89.7 Other (income) expense, net (0.5 ) — (0.3 ) (0.8 ) Intercompany expense (income) 19.7 (1.2 ) (18.5 ) — Income (loss) from continuing operations before income taxes 153.2 71.1 (128.9 ) 95.4 Income taxes 39.0 17.7 (32.9 ) 23.8 Net income (loss) from continuing operations $ 114.2 $ 53.4 $ (96.0 ) $ 71.6 Geographic Information Our foreign operations include Canada, Mexico, Continental Europe and the U.K. Most of our operations outside the U.S. are in Canada. Approximately 63% and 66% of our foreign operating revenues were from Canada for the three and six months ended June 30, 2019 , respectively, and approximately 97% and 97% of our foreign operating revenues were from Canada for the three and six months ended June 30, 2018 , respectively. The 2019 acquisition of COTW has increased the percentage of operating revenues from Europe. Information regarding the geographic areas of our operations is set forth below (in millions) : Three Months Ended June 30, Six Months Ended 2019 2018 2019 2018 Operating revenues U.S. $ 580.9 $ 524.5 $ 1,160.8 $ 1,049.7 Foreign 138.2 98.9 247.9 186.9 $ 719.1 $ 623.4 $ 1,408.7 $ 1,236.6

Basis of Presentation and Natur

Basis of Presentation and Nature of Operations Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by U.S. GAAP for annual financial statements. Operating results for interim periods are not necessarily indicative of results that may be expected for the year as a whole. In the opinion of management, the consolidated financial statements reflect all adjustments, generally consisting of normal recurring accruals, necessary for a fair statement of our results of operations, cash flows and financial position for the periods presented. These consolidated financial statements and condensed notes to consolidated financial statements are unaudited and should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2018, as filed with the Securities and Exchange Commission on February 21, 2019. The 2018 year-end consolidated balance sheet data included in this Form 10-Q was derived from the audited financial statements referenced above and does not include all disclosures required by U.S. GAAP for annual financial statements.
Reclassifications	Reclassifications Certain amounts reported in the consolidated financial statements prior to June 2019 have been reclassified to discontinued operations to reflect the spin-off of the Company's former salvage auction business. In addition, certain amounts reported for segment results in the consolidated financial statements prior to June 2019 have been reclassified to conform to a discontinued operations presentation. See Note 3 for a discussion of discontinued operations.
Use of Estimates	Use of Estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates based in part on assumptions about current, and for some estimates, future economic and market conditions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the period. Although the current estimates contemplate current conditions and expected future changes, as appropriate, it is reasonably possible that future conditions could differ from these estimates, which could materially affect our results of operations and financial position. Among other effects, such changes could result in future impairments of goodwill, intangible assets and long-lived assets, incremental losses on finance receivables, additional allowances on accounts receivable and deferred tax assets and changes in litigation and other loss contingencies.
Leases	Leases In February 2016, the Financial Accounting Standards Board ("FASB") issued ASU 2016-02, Leases (Topic 842) , which replaces the existing lease guidance in Topic 840. The ASU is intended to provide enhanced transparency and comparability by requiring lessees to record right-of-use ("ROU") assets and corresponding lease liabilities on the balance sheet, with an exception for leases that meet the definition of a short-term lease. The new guidance continues to classify leases as either finance or operating, with classification affecting the pattern of expense recognition in the statement of income. We adopted Topic 842 in the first quarter of 2019 and as permitted by ASU 2018-11, Leases (Topic 842): Targeted Improvements , we applied the new standard at the adoption date and recognized the cumulative-effect of initially applying the new standard as an increase of $1.1 million to the opening balance of retained earnings. The cumulative-effect adjustment related to the derecognition of existing fixed assets for which we were determined to be the accounting owner under Topic 840 and related liabilities associated with certain sale leaseback transactions in build-to-suit arrangements that did not qualify for sale accounting under Topic 840. Depreciation related to these fixed assets was recorded consistently with owned property and equipment in depreciation expense. In accordance with Topic 842, the lease agreements associated with the derecognized fixed assets and related liabilities generated ROU assets and lease liabilities that will be amortized to lease expense over the lease term. In addition, we recognized additional operating liabilities for continuing operations of approximately $342 million with related ROU assets of approximately $314 million based on the present value of the remaining minimum rental payments for existing operating leases. Our Credit Agreement specifies that the net debt covenant shall continue to be calculated as if the accounting standard had not been adopted and that we could enter into negotiations to amend such provisions in the Credit Agreement so as to equitably reflect such changes with the desired result that the criteria for evaluating our financial condition would be the same after the change as if such change had not been made. We determine if an arrangement is a lease at inception. Operating leases are included in “Operating lease right-of-use assets,” “Other accrued expenses” and “Operating lease liabilities” in our consolidated balance sheets. Finance leases are included in “Property and equipment, net,” “Other accrued expenses” and “Other liabilities” in our consolidated balance sheets. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and operating lease liabilities are recognized at the commencement date based on the present value of the lease payments over the lease term. As most of our leases do not provide an implicit interest rate, we use our incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. We use the implicit rate when readily determinable. The operating lease ROU assets also include any lease payments made and exclude lease incentives and initial direct costs incurred. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. We have lease agreements with lease and non-lease components, which are generally accounted for separately. For certain equipment leases, we account for the lease and non-lease components as a single lease component.
New Accounting Standards	New Accounting Standards In August 2018, the FASB issued ASU 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract, which aligns the requirements for capitalizing implementation costs incurred in a cloud computing arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The new guidance is effective for annual periods beginning after December 15, 2019, including interim periods within those fiscal years. The Company is currently evaluating the impact the adoption of ASU 2018-15 will have on the consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, which simplifies the test for goodwill impairment by eliminating Step 2 (implied fair value measurement). Instead goodwill impairment would be measured as the amount by which a reporting unit's carrying amount exceeds its fair value, not to exceed the carrying amount of goodwill. The new guidance is effective for annual periods beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted. We do not expect the adoption of ASU 2017-04 will have a material impact on the consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The update changes the methodology for measuring credit losses on financial instruments and the timing of when such losses are recorded. The new guidance is effective for annual periods beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted beginning in annual periods beginning after December 15, 2018, including interim periods within those fiscal years. The Company is currently evaluating the impact the adoption of ASU 2016-13 will have on the consolidated financial statements, however we do not expect that it will have a material impact on the consolidated financial statements based on the short-term nature of AFC's loans.

IAA Separation and Discontinu_2

IAA Separation and Discontinued Operations (Tables)	6 Months Ended
	Jun. 30, 2019
Discontinued Operations [Abstract]
Discontinued Operations	The following table presents the results of operations for IAA that have been reclassified to discontinued operations for all periods presented: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Operating revenues $ 366.4 $ 333.2 $ 723.6 $ 670.5 Operating expenses Cost of services (exclusive of depreciation and amortization) 227.7 201.1 446.1 407.8 Selling, general and administrative 62.1 32.8 94.5 64.8 Depreciation and amortization 22.1 24.7 43.9 48.8 Total operating expenses 311.9 258.6 584.5 521.4 Operating profit 54.5 74.6 139.1 149.1 Interest expense 2.4 0.2 2.7 0.4 Other income, net (0.1 ) (0.7 ) — (0.7 ) Income from discontinued operations before income taxes 52.2 75.1 136.4 149.4 Income taxes 24.0 19.3 45.7 37.8 Income from discontinued operations $ 28.2 $ 55.8 $ 90.7 $ 111.6 The following table summarizes the major classes of assets and liabilities immediately preceding the spin-off on June 28, 2019 and at December 31, 2018: June 28, 2019 December 31, 2018 Assets Cash and cash equivalents $ 50.9 $ 60.0 Trade receivables, net 284.7 311.0 Other current assets 83.6 82.5 Goodwill 536.8 536.8 Customer relationships, net 62.2 74.8 Other intangible assets, net 87.5 86.2 Operating lease right-of-use assets 655.2 — Other assets 13.3 10.3 Property and equipment, net 241.4 345.2 Total assets, discontinued operations $ 2,015.6 $ 1,506.8 Liabilities Accounts payable $ 115.8 $ 129.0 Accrued employee benefits and compensation expenses 19.0 29.6 Other accrued expenses 120.9 53.6 Income taxes payable — 2.2 Long-term debt 1,274.8 — Deferred income tax liabilities 63.7 63.1 Operating lease liabilities 633.0 — Other liabilities 12.0 202.9 Total liabilities, discontinued operations $ 2,239.2 $ 480.4

Stock and Stock-Based Compens_2

Stock and Stock-Based Compensation Plans (Tables)	6 Months Ended
	Jun. 30, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of stock-based compensation expense by type of award	The following table summarizes our stock-based compensation expense by type of award (in millions) : Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 PRSUs $ 1.3 $ 1.9 $ 4.9 $ 5.1 RSUs 2.6 2.2 5.4 4.4 Service options — — — 0.1 Total stock-based compensation expense $ 3.9 $ 4.1 $ 10.3 $ 9.6

Net Income from Continuing Op_2

Net Income from Continuing Operations Per Share (Tables)	6 Months Ended
	Jun. 30, 2019
Earnings Per Share, Basic and Diluted [Abstract]
Schedule of computation of net income from continuing operations per share	The following table sets forth the computation of net income from continuing operations per share (in millions except per share amounts) : Three Months Ended Six Months Ended June 30, 2019 2018 2019 2018 Net income from continuing operations $ 27.4 $ 37.4 $ 42.7 $ 71.6 Weighted average common shares outstanding 133.4 134.6 133.2 134.6 Effect of dilutive stock options and restricted stock awards 0.7 1.0 0.7 1.2 Weighted average common shares outstanding and potential common shares 134.1 135.6 133.9 135.8 Net income from continuing operations per share Basic $ 0.21 $ 0.28 $ 0.32 $ 0.53 Diluted $ 0.20 $ 0.28 $ 0.32 $ 0.53

Finance Receivables and Oblig_2

Finance Receivables and Obligations Collateralized by Finance Receivables (Tables)	6 Months Ended
	Jun. 30, 2019
Notes, Loans and Financing Receivable, Net, Current [Abstract]
Schedule of quantitative information about delinquencies, credit losses less recoveries ("net credit losses") and components of securitized financial assets and other related assets managed	The following tables present quantitative information about delinquencies, credit losses less recoveries ("net credit losses") and components of securitized financial assets and other related assets managed. For purposes of this illustration, delinquent receivables are defined as receivables 31 days or more past due. June 30, 2019 Net Credit Losses Three Months Ended June 30, 2019 Net Credit Losses Six Months Ended June 30, 2019 Total Amount of: (in millions) Receivables Receivables Delinquent Floorplan receivables $ 2,057.4 $ 12.3 $ 8.2 $ 16.2 Other loans 12.7 — — — Total receivables managed $ 2,070.1 $ 12.3 $ 8.2 $ 16.2 December 31, 2018 Net Credit Losses Three Months Ended June 30, 2018 Net Credit Losses Six Months Ended June 30, 2018 Total Amount of: (in millions) Receivables Receivables Delinquent Floorplan receivables $ 2,001.9 $ 15.9 $ 6.8 $ 14.2 Other loans 12.9 — — — Total receivables managed $ 2,014.8 $ 15.9 $ 6.8 $ 14.2
Schedule of obligations collateralized by finance receivables	Obligations collateralized by finance receivables consisted of the following: June 30, December 31, Obligations collateralized by finance receivables, gross $ 1,438.7 $ 1,464.7 Unamortized securitization issuance costs (16.4 ) (19.4 ) Obligations collateralized by finance receivables $ 1,422.3 $ 1,445.3

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2019
Long-term Debt, Unclassified [Abstract]
Schedule of long-term debt	Long-term debt consisted of the following (in millions) : Interest Rate* Maturity June 30, December 31, Term Loan B-4 Adjusted LIBOR + 2.25% March 11, 2021 $ 184.8 $ 704.4 Term Loan B-5 Adjusted LIBOR + 2.50% March 9, 2023 270.7 1,031.5 Revolving credit facility Adjusted LIBOR + 2.0% March 9, 2021 72.0 — Senior notes 5.125% June 1, 2025 950.0 950.0 European lines of credit Euribor + 1.25% Repayable upon demand 21.5 — Canadian line of credit CAD Prime + 0.50% Repayable upon demand — — Total debt 1,499.0 2,685.9 Unamortized debt issuance costs (14.7 ) (18.5 ) Current portion of long-term debt (93.5 ) (13.1 ) Long-term debt $ 1,390.8 $ 2,654.3

Derivatives (Tables)

Derivatives (Tables)	6 Months Ended
	Jun. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of the fair value of the entity's interest rate derivatives included in the consolidated balance sheet	The following table presents the fair value of our interest rate derivatives included in the consolidated balance sheets for the periods presented ( in millions ): Asset Derivatives June 30, 2019 December 31, 2018 Derivatives Not Designated as Hedging Instruments Balance Sheet Location Fair Value Balance Sheet Location Fair Value 2017 Interest rate caps Other assets $ 0.7 Other assets $ 5.2
Schedule of other derivatives not designated as hedging instruments, statements of financial performance	The following table presents the effect of the interest rate derivatives on our consolidated statements of income for the periods presented ( in millions ): Amount of Gain / (Loss) Recognized in Income on Derivatives Derivatives Not Designated Location of Gain / (Loss) Recognized Three Months Ended Six Months Ended June 30, as Hedging Instruments in Income on Derivatives 2019 2018 2019 2018 2017 Interest rate caps Interest expense $ (0.4 ) $ 1.4 $ (0.9 ) $ 6.1

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Components of lease expense	The components of lease expense were as follows ( in millions ): Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Operating lease cost $ 14.6 $ 29.0 Finance lease cost: Amortization of right-of-use assets $ 3.6 $ 7.4 Interest on lease liabilities 0.3 0.7 Total finance lease cost $ 3.9 $ 8.1
Supplemental cash flow information related to leases	Supplemental cash flow information related to leases was as follows ( in millions ): Six Months Ended June 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows related to operating leases $ 28.5 Operating cash flows related to finance leases 0.7 Financing cash flows related to finance leases 15.2 Right-of-use assets obtained in exchange for lease obligations: Operating leases 15.6 Finance leases 6.8
Supplemental balance sheet information related to leases	Supplemental balance sheet information related to leases was as follows ( in millions, except lease term and discount rate ): June 30, 2019 Operating Leases Operating lease right-of-use assets $ 370.5 Other accrued expenses $ 32.9 Operating lease liabilities 365.5 Total operating lease liabilities $ 398.4 Finance Leases Property and equipment, gross $ 91.2 Accumulated depreciation (66.9 ) Property and equipment, net $ 24.3 Other accrued expenses $ 12.0 Other liabilities 13.0 Total finance lease liabilities $ 25.0 Weighted Average Remaining Lease Term Operating leases 10.6 years Finance leases 2.1 years Weighted Average Discount Rate Operating leases 6.1 % Finance leases 4.8 %
Maturities of lease liabilities	Maturities of lease liabilities as of June 30, 2019 were as follows ( in millions ): Operating Finance Leases 2019 (excluding the six months ended June 30, 2019) $ 28.8 $ 13.2 2020 53.8 6.7 2021 51.4 6.3 2022 49.3 0.6 2023 47.6 0.1 Thereafter 328.0 — Total lease payments 558.9 26.9 Less imputed interest (160.5 ) (1.9 ) Total $ 398.4 $ 25.0

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2019
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of accumulated other comprehensive income (loss)	Accumulated other comprehensive loss consisted of the following ( in millions ): June 30, December 31, Foreign currency translation loss $ (34.4 ) $ (61.3 ) Accumulated other comprehensive loss $ (34.4 ) $ (61.3 )

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Schedule of financial information regarding the entity's reportable segments	Financial information regarding our reportable segments is set forth below as of and for the three months ended June 30, 2019 (in millions) : ADESA AFC Holding Consolidated Operating revenues $ 632.4 $ 86.7 $ — $ 719.1 Operating expenses Cost of services (exclusive of depreciation and amortization) 392.9 24.5 — 417.4 Selling, general and administrative 121.9 6.4 34.9 163.2 Depreciation and amortization 38.0 2.6 7.3 47.9 Total operating expenses 552.8 33.5 42.2 628.5 Operating profit (loss) 79.6 53.2 (42.2 ) 90.6 Interest expense 1.0 16.2 38.4 55.6 Other (income) expense, net (1.3 ) (0.1 ) 0.3 (1.1 ) Intercompany expense (income) 7.6 (1.6 ) (6.0 ) — Income (loss) from continuing operations before income taxes 72.3 38.7 (74.9 ) 36.1 Income taxes 21.8 11.3 (24.4 ) 8.7 Net income (loss) from continuing operations $ 50.5 $ 27.4 $ (50.5 ) $ 27.4 Total assets $ 3,717.0 $ 2,495.1 $ 165.7 $ 6,377.8 Financial information regarding our reportable segments is set forth below as of and for the three months ended June 30, 2018 (in millions) : ADESA Auctions AFC Holding Company Consolidated Operating revenues $ 538.3 $ 85.1 $ — $ 623.4 Operating expenses Cost of services (exclusive of depreciation and amortization) 307.2 23.0 — 330.2 Selling, general and administrative 108.3 7.5 34.1 149.9 Depreciation and amortization 31.3 3.5 7.3 42.1 Total operating expenses 446.8 34.0 41.4 522.2 Operating profit (loss) 91.5 51.1 (41.4 ) 101.2 Interest expense 0.6 14.8 33.0 48.4 Other (income) expense, net (0.2 ) — (0.3 ) (0.5 ) Intercompany expense (income) 7.6 (0.7 ) (6.9 ) — Income (loss) from continuing operations before income taxes 83.5 37.0 (67.2 ) 53.3 Income taxes 23.5 9.3 (16.9 ) 15.9 Net income (loss) from continuing operations $ 60.0 $ 27.7 $ (50.3 ) $ 37.4 Total assets $ 3,171.6 $ 2,354.1 $ 246.9 $ 5,772.6 Financial information regarding our reportable segments is set forth below as of and for the six months ended June 30, 2019 (in millions) : ADESA AFC Holding Consolidated Operating revenues $ 1,232.1 $ 176.6 $ — $ 1,408.7 Operating expenses Cost of services (exclusive of depreciation and amortization) 763.6 47.7 — 811.3 Selling, general and administrative 248.5 13.6 76.3 338.4 Depreciation and amortization 73.0 5.0 14.2 92.2 Total operating expenses 1,085.1 66.3 90.5 1,241.9 Operating profit (loss) 147.0 110.3 (90.5 ) 166.8 Interest expense 1.7 33.3 77.1 112.1 Other (income) expense, net (3.2 ) (0.2 ) 0.2 (3.2 ) Intercompany expense (income) 17.9 (2.8 ) (15.1 ) — Income (loss) from continuing operations before income taxes 130.6 80.0 (152.7 ) 57.9 Income taxes 37.7 22.1 (44.6 ) 15.2 Net income (loss) from continuing operations $ 92.9 $ 57.9 $ (108.1 ) $ 42.7 Financial information regarding our reportable segments is set forth below as of and for the six months ended June 30, 2018 (in millions) : ADESA Auctions AFC Holding Company Consolidated Operating revenues $ 1,066.4 $ 170.2 $ — $ 1,236.6 Operating expenses Cost of services (exclusive of depreciation and amortization) 613.2 45.3 — 658.5 Selling, general and administrative 217.1 15.5 72.8 305.4 Depreciation and amortization 62.5 11.3 14.6 88.4 Total operating expenses 892.8 72.1 87.4 1,052.3 Operating profit (loss) 173.6 98.1 (87.4 ) 184.3 Interest expense 1.2 28.2 60.3 89.7 Other (income) expense, net (0.5 ) — (0.3 ) (0.8 ) Intercompany expense (income) 19.7 (1.2 ) (18.5 ) — Income (loss) from continuing operations before income taxes 153.2 71.1 (128.9 ) 95.4 Income taxes 39.0 17.7 (32.9 ) 23.8 Net income (loss) from continuing operations $ 114.2 $ 53.4 $ (96.0 ) $ 71.6
Schedule of information regarding the geographic areas of entity's operations	Information regarding the geographic areas of our operations is set forth below (in millions) : Three Months Ended June 30, Six Months Ended 2019 2018 2019 2018 Operating revenues U.S. $ 580.9 $ 524.5 $ 1,160.8 $ 1,049.7 Foreign 138.2 98.9 247.9 186.9 $ 719.1 $ 623.4 $ 1,408.7 $ 1,236.6

Basis of Presentation and Nat_2

Basis of Presentation and Nature of Operations (Details) $ in Millions	Mar. 09, 2016USD ($)	Mar. 11, 2014	Jun. 30, 2019USD ($)locationnetworkprovider	Jun. 30, 2018USD ($)	Jan. 01, 2019USD ($)	Dec. 31, 2018USD ($)	May 31, 2017USD ($)
Basis of Presentation and Nature of Operations
Long-term debt			$ 1,499			$ 2,685.9
Cumulative effect adjustment for adoption of new accounting standard, net of tax			1.1	$ (3)
Total operating lease liabilities			398.4		$ 342
Operating lease right-of-use assets			$ 370.5		$ 314	0
ADESA Auctions
Basis of Presentation and Nature of Operations
Number of sites for whole car auctions | network			74
Ranking of largest providers of used vehicle auctions and related services | provider			2
AFC
Basis of Presentation and Nature of Operations
Number of floorplan financing locations | location			125
Senior secured revolving credit facility
Basis of Presentation and Nature of Operations
Long-term debt			$ 72			0
Senior notes
Basis of Presentation and Nature of Operations
Senior notes stated interest rate			5.125%				5.125%
Long-term debt			$ 950			$ 950
Credit Agreement | Term Loan B-2
Basis of Presentation and Nature of Operations
Term of debt instrument		7 years
Credit Agreement | Term Loan B-3
Basis of Presentation and Nature of Operations
Term of debt instrument	7 years
Credit Agreement | Senior secured revolving credit facility
Basis of Presentation and Nature of Operations
Maximum borrowing capacity			$ 350				$ 350
Credit Agreement | 2016 Revolving credit facility
Basis of Presentation and Nature of Operations
Maximum borrowing capacity	$ 300
Term of debt instrument	5 years

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Acquisitions
Acquisition of businesses (net of cash acquired)	$ 120.7	$ 23.3
Goodwill	1,817.6		$ 1,676.9
Series of individually immaterial business acquisitions
Acquisitions
Purchase price for business acquired	169.2
Fair value of deferred payments	19.2
Fair value of estimated contingent payments	29.3
Maximum amount of undiscounted payments related to acquisitions	52
Purchase price for the acquired business allocated to intangible assets	32.7
Goodwill	138.4
Customer relationships | Series of individually immaterial business acquisitions
Acquisitions
Purchase price for the acquired business allocated to intangible assets	26.4
Computer software & technology | Series of individually immaterial business acquisitions
Acquisitions
Purchase price for the acquired business allocated to intangible assets	4.3
Tradenames | Series of individually immaterial business acquisitions
Acquisitions
Purchase price for the acquired business allocated to intangible assets	$ 2

IAA Separation and Discontinu_3

IAA Separation and Discontinued Operations (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Jun. 28, 2019	Dec. 31, 2018
Discontinued Operations
Cash distribution received from IAA	$ 1,278		$ 1,278
Professional fees associated with spin-off	30.5		31.3
Discontinued Operations - Results of Operations
Operating revenues	366.4	$ 333.2	723.6	$ 670.5
Cost of services (exclusive of depreciation and amortization)	227.7	201.1	446.1	407.8
Selling, general and administrative	62.1	32.8	94.5	64.8
Depreciation and amortization	22.1	24.7	43.9	48.8
Total operating expenses	311.9	258.6	584.5	521.4
Operating profit	54.5	74.6	139.1	149.1
Interest expense	2.4	0.2	2.7	0.4
Other income, net	(0.1)	(0.7)	0	(0.7)
Income from discontinued operations before income taxes	52.2	75.1	136.4	149.4
Income taxes	24	19.3	45.7	37.8
Income from discontinued operations	$ 28.2	$ 55.8	$ 90.7	$ 111.6
Discontinued Operations - Major Classes of Assets and Liabilities
Cash and cash equivalents					$ 50.9	$ 60
Trade receivables, net					284.7	311
Other current assets					83.6	82.5
Goodwill					536.8	536.8
Customer relationships, net					62.2	74.8
Other intangible assets, net					87.5	86.2
Operating lease right-of-use assets					655.2	0
Other assets					13.3	10.3
Property and equipment, net					241.4	345.2
Total assets, discontinued operations					2,015.6	1,506.8
Accounts payable					115.8	129
Accrued employee benefits and compensation expenses					19	29.6
Other accrued expenses					120.9	53.6
Income taxes payable					0	2.2
Long-term debt					1,274.8	0
Deferred income tax liabilities					63.7	63.1
Operating lease liabilities					633	0
Other liabilities					12	202.9
Total liabilities, discontinued operations					$ 2,239.2	$ 480.4

Stock and Stock-Based Compens_3

Stock and Stock-Based Compensation Summary (Details) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)installment$ / sharesshares	Jun. 30, 2018USD ($)
Stock and Stock-Based Compensation Plans
Stock-based compensation expense (in dollars)	$ 3.9	$ 4.1	$ 10.3	$ 9.6
PRSUs
Stock and Stock-Based Compensation Plans
Stock-based compensation expense (in dollars)	1.3	1.9	4.9	5.1
RSUs
Stock and Stock-Based Compensation Plans
Stock-based compensation expense (in dollars)	2.6	2.2	5.4	4.4
Service options
Stock and Stock-Based Compensation Plans
Stock-based compensation expense (in dollars)	$ 0	$ 0	$ 0	$ 0.1
KAR Auction Services, Inc. 2009 Omnibus Stock and Incentive Plan | RSUs
Stock and Stock-Based Compensation Plans
PRSUs and/or RSUs grants | shares			0.3
Number of equal annual installments | installment			3
Weighted average grant date fair value of the PRSUs/RSUs | $ / shares			$ 47.63
KAR Auction Services, Inc. 2009 Omnibus Stock and Incentive Plan | PRSUs - Operating Adjusted EPS
Stock and Stock-Based Compensation Plans
PRSUs and/or RSUs grants | shares			0.3
PRSUs vesting period			3 years
Weighted average grant date fair value of the PRSUs/RSUs | $ / shares			$ 47.23

Share Repurchase Plan (Details)

Share Repurchase Plan (Details) - USD ($) $ / shares in Units, $ in Millions	Oct. 26, 2016	Jun. 30, 2019	Dec. 31, 2018
Stock and Stock-Based Compensation Plans
Common stock, par value (in dollars per share)		$ 0.01	$ 0.01
October 2016 Share Repurchase Authorization
Stock and Stock-Based Compensation Plans
Stock repurchase program, authorized amount	$ 500
Stock repurchase program expiration date	Oct. 26, 2019
Stock repurchased and retired during period (in shares)		0	2,695,978
Stock repurchased and retired weighted average price per share			$ 55.64
Stock Repurchase Program, Remaining Authorized Repurchase Amount		$ 119.7

Net Income from Continuing Op_3

Net Income from Continuing Operations Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Earnings Per Share, Basic and Diluted [Abstract]
Net income from continuing operations	$ 27.4	$ 37.4	$ 42.7	$ 71.6
Shares outstanding
Weighted average common shares outstanding	133.4	134.6	133.2	134.6
Effect of dilutive stock options and restricted stock awards	0.7	1	0.7	1.2
Weighted average common shares outstanding and potential common shares	134.1	135.6	133.9	135.8
Net income from continuing operations per share
Basic	$ 0.21	$ 0.28	$ 0.32	$ 0.53
Diluted	$ 0.20	$ 0.28	$ 0.32	$ 0.53
Options excluded from calculation of diluted net income per share	0	0	0	0
Securities excluded from calculation of earnings per share amount due to performance conditions not yet satisfied	0.8	0.7	0.8	0.7
Stock options outstanding (in shares)	0.8	1.4	0.8	1.4

Finance Receivables and Oblig_3

Finance Receivables and Obligations Collateralized by Finance Receivables (Details) $ in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2019CAD ($)	Dec. 31, 2018USD ($)
Finance Receivables and Obligations Collateralized by Finance Receivables
Receivables	$ 2,070.1		$ 2,070.1			$ 2,014.8
Receivables Delinquent	12.3		12.3			15.9
Net Credit Losses	8.2	$ 6.8	16.2	$ 14.2
Allowance for losses	14.5		14.5			14
Finance receivables pledged as security	2,008		2,008			1,973.2
Obligations collateralized by finance receivables, gross	1,438.7		1,438.7			1,464.7
Obligations collateralized by finance receivables	1,422.3		$ 1,422.3			1,445.3
Minimum
Finance Receivables and Obligations Collateralized by Finance Receivables
Period to define financing receivables as past due (in days)			31 days
Floorplan receivables
Finance Receivables and Obligations Collateralized by Finance Receivables
Receivables	2,057.4		$ 2,057.4			2,001.9
Receivables Delinquent	12.3		12.3			15.9
Net Credit Losses	8.2	6.8	16.2	14.2
Other Loans
Finance Receivables and Obligations Collateralized by Finance Receivables
Receivables	12.7		12.7			12.9
Receivables Delinquent	0		0			0
Net Credit Losses	0	$ 0	0	$ 0
AFC
Finance Receivables and Obligations Collateralized by Finance Receivables
Allowance for losses	14.5		14.5			14
Unamortized securitization issuance costs	(16.4)		$ (16.4)			$ (19.4)
AFC | Minimum
Finance Receivables and Obligations Collateralized by Finance Receivables
Period to define financing receivables as past due (in days)			31 days
AFC Funding Corporation
Finance Receivables and Obligations Collateralized by Finance Receivables
Committed liquidity	$ 1,700		$ 1,700
Cash reserve as security for obligations of collateralized financing receivables (as a percent)			1.00%
AFCI
Finance Receivables and Obligations Collateralized by Finance Receivables
Committed liquidity					$ 175
Cash reserve as security for obligations of collateralized financing receivables (as a percent)			1.00%

Long-Term Debt Summary (Details

Long-Term Debt Summary (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018	May 31, 2017
Long-Term Debt
Total debt	$ 1,499	$ 2,685.9
Unamortized debt issuance costs	(14.7)	(18.5)
Current portion of long-term debt	(93.5)	(13.1)
Long-term debt	1,390.8	2,654.3
Term Loan B-4
Long-Term Debt
Total debt	$ 184.8	704.4
Term Loan B-4 | Adjusted LIBOR
Long-Term Debt
Variable rate basis	Adjusted LIBOR
Interest rate basis (as a percent)	2.25%
Term Loan B-5
Long-Term Debt
Total debt	$ 270.7	1,031.5
Term Loan B-5 | Adjusted LIBOR
Long-Term Debt
Variable rate basis	Adjusted LIBOR
Interest rate basis (as a percent)	2.50%
Revolving credit facility
Long-Term Debt
Total debt	$ 72	0
Revolving credit facility | Adjusted LIBOR
Long-Term Debt
Variable rate basis	Adjusted LIBOR
Interest rate basis (as a percent)	2.00%
Senior notes
Long-Term Debt
Senior notes stated interest rate	5.125%		5.125%
Total debt	$ 950	950
European lines of credit | Foreign lines of credit
Long-Term Debt
Total debt	$ 21.5	0
European lines of credit | Foreign lines of credit | Euribor rate
Long-Term Debt
Variable rate basis	Euribor
Interest rate basis (as a percent)	1.25%
Canadian line of credit | Foreign lines of credit
Long-Term Debt
Total debt	$ 0	$ 0
Canadian line of credit | Foreign lines of credit | CAD Prime
Long-Term Debt
Variable rate basis	CAD Prime
Interest rate basis (as a percent)	0.50%
Credit Agreement | Term Loan B-4
Long-Term Debt
Total debt			$ 717
Credit Agreement | Term Loan B-5
Long-Term Debt
Total debt			$ 1,050

Credit Facilities (Details)

Credit Facilities (Details) € in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2019EUR (€)	Dec. 31, 2018USD ($)	May 31, 2017USD ($)
Long-Term Debt
Repayments of Long-term Debt	$ 1,291.1	$ 3.6
Acceleration of amortization on debt issuance costs	$ 1.8
Percentage of equity interests of certain of the company's and the Subsidiary Guarantors' domestic subsidiaries pledged under the Credit Facility	100.00%
Percentage of equity interests of certain of the company's and the Subsidiary Guarantors' first-tier foreign subsidiaries pledged under the Credit Facility	65.00%
Long-term debt	$ 1,499			$ 2,685.9
Estimated fair value of long-term debt	$ 1,512
Term Loan B-4
Long-Term Debt
Interest rate of loan (as a percent)	4.63%		4.63%
Long-term debt	$ 184.8			704.4
Term Loan B-5
Long-Term Debt
Interest rate of loan (as a percent)	4.88%		4.88%
Long-term debt	$ 270.7			1,031.5
Revolving credit facility
Long-Term Debt
Amount borrowed	72			0
Long-term debt	72			0
Letters of credit
Long-Term Debt
Outstanding letters of credit	32.5			32.9
European lines of credit | Foreign lines of credit
Long-Term Debt
Maximum borrowing capacity | €			€ 30
Long-term debt	21.5			$ 0
Credit Agreement | Term Loan B-4
Long-Term Debt
Repayments of Long-term Debt	518.6
Long-term debt					$ 717
Credit Agreement | Term Loan B-5
Long-Term Debt
Repayments of Long-term Debt	759.4
Long-term debt					1,050
Credit Agreement | Revolving credit facility
Long-Term Debt
Maximum borrowing capacity	$ 350				$ 350
Commitment fee on the unused amount of the Credit Facility (as a percent)	0.30%
The commitment fee may step up to this percent	0.35%
CarsOnTheWeb
Long-Term Debt
Repayment of assumed debt	$ 10.7

Derivatives (Details)

Derivatives (Details) $ in Millions	Aug. 16, 2017USD ($)agreement	Apr. 06, 2017USD ($)	Mar. 31, 2017USD ($)agreement	Jun. 30, 2019USD ($)	Dec. 31, 2018USD ($)
August 2017 interest rate cap
Fair value of the entity's interest rate derivatives included in the consolidated balance sheet
Number of derivative agreements purchased | agreement	2
Aggregate amount paid for interest rate caps	$ 1
Aggregate notional amount	$ 800
Variable rate basis				three-month LIBOR
August 2017 interest rate cap | Minimum
Fair value of the entity's interest rate derivatives included in the consolidated balance sheet
Floor rate (as a percent)				2.00%
March 2017 interest rate cap
Fair value of the entity's interest rate derivatives included in the consolidated balance sheet
Number of derivative agreements purchased | agreement			2
Aggregate amount paid for interest rate caps		$ 0.7
Aggregate notional amount			$ 400
Variable rate basis				three-month LIBOR
March 2017 interest rate cap | Minimum
Fair value of the entity's interest rate derivatives included in the consolidated balance sheet
Floor rate (as a percent)				2.00%
Other Assets | Not designated as hedging instrument | March and August 2017 interest rate caps
Fair value of the entity's interest rate derivatives included in the consolidated balance sheet
Asset derivatives, fair value				$ 0.7	$ 5.2

Derivatives (Details 2)

Derivatives (Details 2) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Interest Expense | March and August 2017 interest rate caps | Not designated as hedging instrument
Effect of the interest rate derivatives on the entity's statement of equity and consolidated statement of income
Amount of gain/(loss) recognized in income on derivative	$ (0.4)	$ 1.4	$ (0.9)	$ 6.1

Leases Components of Lease Expe

Leases Components of Lease Expense (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Components of lease expense
Operating lease cost	$ 14.6	$ 29
Finance lease cost:
Amortization of right-of-use assets	3.6	7.4
Interest on lease liabilities	0.3	0.7
Total finance lease cost	$ 3.9	$ 8.1

Leases Supplemental Cash Flow I

Leases Supplemental Cash Flow Information Related to Leases (Details) $ in Millions	6 Months Ended
	Jun. 30, 2019USD ($)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows related to operating leases	$ 28.5
Operating cash flows related to finance leases	0.7
Financing cash flows related to finance leases	15.2
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	15.6
Finance leases	$ 6.8

Leases Supplemental Balance She

Leases Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Millions	Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Schedule of supplemental balance sheet information related to leases
Operating lease right-of-use assets	$ 370.5	$ 314	$ 0
Other accrued expenses	226.1		132.8
Operating lease liabilities	365.5		0
Total operating lease liabilities	398.4	$ 342
Accumulated depreciation	(502.4)		(467.5)
Property and equipment, net	595		631
Other liabilities	70.2		$ 71.6
Total finance lease liabilities	$ 25
Weighted average remaining lease term for operating leases	10 years 7 months 6 days
Weighted average remaining lease term for finance leases	2 years 1 month 6 days
Weighted average discount rate for operating leases	6.10%
Weighted average discount rate for finance leases	4.80%
Operating lease
Schedule of supplemental balance sheet information related to leases
Operating lease right-of-use assets	$ 370.5
Other accrued expenses	32.9
Operating lease liabilities	365.5
Total operating lease liabilities	398.4
Finance lease
Schedule of supplemental balance sheet information related to leases
Other accrued expenses	12
Property and equipment, gross	91.2
Accumulated depreciation	(66.9)
Property and equipment, net	24.3
Other liabilities	13
Total finance lease liabilities	$ 25

Leases Maturities of Lease Liab

Leases Maturities of Lease Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2019	Jan. 01, 2019
Operating Leases
2019 (excluding the six months ended June 30, 2019)	$ 28.8
2020	53.8
2021	51.4
2022	49.3
2023	47.6
Thereafter	328
Total lease payments	558.9
Less imputed interest	(160.5)
Total operating lease liabilities	398.4	$ 342
Finance Leases
2019 (excluding the six months ended June 30, 2019)	13.2
2020	6.7
2021	6.3
2022	0.6
2023	0.1
Thereafter	0
Total lease payments	26.9
Less imputed interest	(1.9)
Total finance lease liabilities	$ 25

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	6 Months Ended
	Jun. 30, 2019USD ($)
Commitments and Contingencies Disclosure [Abstract]
Significant change in legal and regulatory proceedings	$ 0

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Foreign currency translation loss	$ (34.4)	$ (61.3)
Accumulated other comprehensive loss	$ (34.4)	$ (61.3)

Segment Information (Details 1)

Segment Information (Details 1) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019USD ($)segment	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)segment	Jun. 30, 2018USD ($)	Dec. 31, 2018USD ($)
Segment Reporting [Abstract]
Number of operating segments | segment			3
Number of reportable segments | segment	2
Segment Information
ADESA Auction Services	$ 632.4	$ 538.3	$ 1,232.1	$ 1,066.4
AFC	86.7	85.1	176.6	170.2
Operating revenues	719.1	623.4	1,408.7	1,236.6
Operating expenses
Cost of services (exclusive of depreciation and amortization)	417.4	330.2	811.3	658.5
Selling, general and administrative	163.2	149.9	338.4	305.4
Depreciation and amortization	47.9	42.1	92.2	88.4
Total operating expenses	628.5	522.2	1,241.9	1,052.3
Operating profit (loss)	90.6	101.2	166.8	184.3
Interest expense	55.6	48.4	112.1	89.7
Other (income) expense, net	(1.1)	(0.5)	(3.2)	(0.8)
Intercompany expense (income)	0	0	0	0
Income from continuing operations before income taxes	36.1	53.3	57.9	95.4
Income taxes	8.7	15.9	15.2	23.8
Income from continuing operations	27.4	37.4	42.7	71.6
Total assets	6,377.8	5,772.6	6,377.8	5,772.6	$ 7,206.2
Operating Segments | ADESA Auctions
Segment Information
ADESA Auction Services	632.4	538.3	1,232.1	1,066.4
Operating expenses
Cost of services (exclusive of depreciation and amortization)	392.9	307.2	763.6	613.2
Selling, general and administrative	121.9	108.3	248.5	217.1
Depreciation and amortization	38	31.3	73	62.5
Total operating expenses	552.8	446.8	1,085.1	892.8
Operating profit (loss)	79.6	91.5	147	173.6
Interest expense	1	0.6	1.7	1.2
Other (income) expense, net	(1.3)	(0.2)	(3.2)	(0.5)
Intercompany expense (income)	7.6	7.6	17.9	19.7
Income from continuing operations before income taxes	72.3	83.5	130.6	153.2
Income taxes	21.8	23.5	37.7	39
Income from continuing operations	50.5	60	92.9	114.2
Total assets	3,717	3,171.6	3,717	3,171.6
Operating Segments | AFC
Segment Information
AFC	86.7	85.1	176.6	170.2
Operating expenses
Cost of services (exclusive of depreciation and amortization)	24.5	23	47.7	45.3
Selling, general and administrative	6.4	7.5	13.6	15.5
Depreciation and amortization	2.6	3.5	5	11.3
Total operating expenses	33.5	34	66.3	72.1
Operating profit (loss)	53.2	51.1	110.3	98.1
Interest expense	16.2	14.8	33.3	28.2
Other (income) expense, net	(0.1)	0	(0.2)	0
Intercompany expense (income)	(1.6)	(0.7)	(2.8)	(1.2)
Income from continuing operations before income taxes	38.7	37	80	71.1
Income taxes	11.3	9.3	22.1	17.7
Income from continuing operations	27.4	27.7	57.9	53.4
Total assets	2,495.1	2,354.1	2,495.1	2,354.1
Holding Company
Segment Information
Operating revenues	0	0	0	0
Operating expenses
Cost of services (exclusive of depreciation and amortization)	0	0	0	0
Selling, general and administrative	34.9	34.1	76.3	72.8
Depreciation and amortization	7.3	7.3	14.2	14.6
Total operating expenses	42.2	41.4	90.5	87.4
Operating profit (loss)	(42.2)	(41.4)	(90.5)	(87.4)
Interest expense	38.4	33	77.1	60.3
Other (income) expense, net	0.3	(0.3)	0.2	(0.3)
Intercompany expense (income)	(6)	(6.9)	(15.1)	(18.5)
Income from continuing operations before income taxes	(74.9)	(67.2)	(152.7)	(128.9)
Income taxes	(24.4)	(16.9)	(44.6)	(32.9)
Income from continuing operations	(50.5)	(50.3)	(108.1)	(96)
Total assets	$ 165.7	$ 246.9	$ 165.7	$ 246.9

Segment Information (Details 2)

Segment Information (Details 2) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Geographic Information
Operating revenues	$ 719.1	$ 623.4	$ 1,408.7	$ 1,236.6
U.S.
Geographic Information
Operating revenues	580.9	524.5	1,160.8	1,049.7
Foreign
Geographic Information
Operating revenues	$ 138.2	$ 98.9	$ 247.9	$ 186.9
Percent of foreign revenue from Canada	63.00%	97.00%	66.00%	97.00%