Business Acquisitions and Dispositions

3 Months Ended

Mar. 31, 2020

Business Combinations [Abstract]

Business Acquisitions and Dispositions

Business Dispositions

We did not dispose of any dealerships during the three months ended March 31, 2020. We disposed of one luxury franchised dealership and three mid-line import franchised dealerships during the three months ended March 31, 2019 that generated net cash of approximately $121.7 million. The results of operations of each of these disposed dealerships remain in continuing operations in the accompanying unaudited condensed consolidated statements of income.

Revenues and other activities associated with disposed franchised dealerships that remain in continuing operations were as follows:

	Three Months Ended March 31,
	2020		2019
	(In thousands)
Income (loss) from operations	$	(160)	$	(2,553)
Gain (loss) on disposal	2		46,750
Lease exit accrual adjustments and charges	—		170
Pre-tax income (loss)	$	(158)	$	44,367
Total revenues	$	—	$	106,774

Revenues and other activities associated with disposed franchised dealerships classified as discontinued operations were as follows:

	Three Months Ended March 31,
	2020		2019
	(In thousands)
Income (loss) from operations	$	(285)	$	(180)
Lease exit accrual adjustments and charges	—		—
Pre-tax income (loss)	$	(285)	$	(180)
Total revenues	$	—	$	—