In 2018, KAR generated approximately $2.4 billion of revenue. It is well-positioned with attractive opportunities for enhanced growth and margins around the globe. IAA will operate the pre-separation salvage auction businesses of KAR, primarily comprised of Insurance Auto Auctions, Inc. in the U.S., Impact Auto Auctions Ltd. in Canada and HBC Vehicle Services Limited in the United Kingdom. Through those businesses, IAA has been a leader in total loss claim solutions and damaged and salvage vehicle auctions in North America and the United Kingdom. In 2018, Insurance Auto Auctions, Inc. generated approximately $1.3 billion of revenue. Under the terms of the spin-off, KAR shareholders retained their KAR shares and received one IAA share for every KAR share held as of 5:00 p.m. EDT on June 18, 2019, the record date for the distribution. Published in the August 2019 Edition