KAR Auction Services Inc was organized in the State of Delaware on November 9, 2006. The Company is a provider of whole car auction services in North America and salvage auction services in North America and the United Kingdom. It facilitates an efficient marketplace by providing auction services for sellers of used, or whole car, vehicles and salvage vehicles through its 237 physical auction locations, and multiple proprietary Internet venues. The Company operates three reportable segments - ADESA Auctions, IAA and AFC. ADESA, the Company's whole car auction services business, is the provider of whole car auctions and related services to the vehicle remarketing industry in North America. It serves customer base through online auctions and auction facilities that are developed and strategically located to draw professional sellers and buyers together and allow the buyers to inspect and compare vehicles remotely or in person. Its online service offerings include ADESA.com, LiveBlock and DealerBlock and offers vehicles for sale from any location. Vehicles available at its auctions include vehicles from institutional customers such as off-lease vehicles, repossessed vehicles, rental vehicles and other program fleet vehicles that have reached a predetermined age or mileage and have been repurchased by the manufacturers, as well as vehicles from used vehicle dealers turning their inventory. It offers both online and physical auctions. Suppliers of vehicles to whole car auctions include large institutions, such as vehicle manufacturers and their captive finance arms, vehicle rental companies, financial institutions, and commercial fleets and fleet management companies and franchised and independent used vehicle dealers. The services offered by ADESA include Auction Related Services; Transportation Services; Reconditioning Services; Inspection Services Provided By AutoVIN; Title and Repossession Administration and Remarketing Services; Vehicle Research Services Provided by AutoNiq; and ADESA Analytical Services. ADESA competes in the North American whole car auction industry, with Manheim, OVE.com, SmartAuction, as well as several smaller chains of auctions and independent auctions. In the United States, competition is with Manheim for the supply of used vehicles from national institutional customers. In Canada, it is the provider of whole car vehicle auction services. IAA provides salvage vehicle auctions and related services in the United States and Impact Auto Auctions in Canada and serves its customer base through salvage auction locations throughout North America. It facilitates the remarketing of vehicles for a variety of sellers, including insurance companies, dealerships, rental car companies, fleet lease companies and charitable organizations. Its auctions provide buyers with the salvage vehicles it needs to fulfill their scrap demand, replacement part inventory or vehicle rebuild requirements. The services provided by IAA are Live and Live Online Auction Model; Total Loss Solutions; IAA Title Management ; Vehicle Inspection Centers; Transportation and Towing; Remarketing Division; and Donation Division. The buyers of salvage vehicles include automotive body shops, rebuilders, used car dealers, automotive wholesalers, exporters, dismantlers, recyclers, brokers, and where allowed, non-licensed (public) buyers. In the IAA salvage sector the competition includes Copart; Total Resource Auctions; and independent auctions. In Canada, its competitors include Copart, independent vehicle auctions, brokers, online auction companies, and vehicle recyclers and dismantlers. AFC segment is the provider of floorplan financing to independent used vehicle dealers. It provides short-term inventory-secured financing, known as floorplan financing, to independent used vehicle dealers through branches in North America. AFC serviced over 1.6 million loan transactions, which includes both loans paid off and loans extended, or curtailed.