Business Acquisitions and Dispositions

3 Months Ended

Mar. 31, 2019

Business Dispositions

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. We disposed of one luxury franchised dealership during the three months ended March 31, 2018 that generated net cash of approximately $7.5 million. Additionally, we terminated one luxury franchised dealership and ceased operations at a previously acquired pre-owned store in Florida during the three months ended March 31, 2018.

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


	Three Months Ended March 31,
	2019		2018
	(In thousands)
Income (loss) from operations	$	(1,504)	$	(6,335)
Gain (loss) on disposal	46,750		1,190
Lease exit accrual adjustments and charges	170		(520)
Pre-tax income (loss)	$	45,416	$	(5,665)
Total revenues	$	26,276	$	147,880

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


	Three Months Ended March 31,
	2019		2018
	(In thousands)
Income (loss) from operations	$	(180)	$	(139)
Lease exit accrual adjustments and charges	—		(109)
Pre-tax income (loss)	$	(180)	$	(248)
Total revenues	$	—	$	—