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Acquisitions and Divestitures | 12 Months Ended
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Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Acquisitions and Divestitures | ACQUISITIONS AND DIVESTITURES During 2024, we did not purchase any stores. During 2023, we acquired RepairSmith, a mobile solution for automotive repair and maintenance, which we renamed AutoNation Mobile Service, and we also purchased one Domestic store, five Import stores, and one Premium Luxury store. During 2022, we acquired CIG Financial, an auto finance company, which we renamed AutoNation Finance, and we also purchased three Domestic stores and one Import store. Acquisitions are included in the Consolidated Financial Statements from the date of acquisition. The acquisitions completed in 2023 and 2022 were not material to our financial condition or results of operations. Additionally, on a pro forma basis as if the results of these acquisitions had been included in our consolidated results for the respective full years ended December 31, 2023 and 2022, revenue and net income would not have been materially different from our reported revenue and net income for these periods. During 2024, we divested seven Domestic stores and one Import store for aggregate proceeds of $156.0 million and recognized net gains of $53.9 million related to these divestitures. During 2023, we divested one Domestic store for aggregate proceeds of $23.2 million and recognized a net gain of $6.1 million related to this divestiture. During 2022, we divested three Premium Luxury stores for aggregate proceeds of $55.2 million and recognized net gains of $16.0 million related to these divestitures. These gains are included in Other Income, Net (within Operating Income) in our Consolidated Statements of Income. The financial condition and results of operations of these businesses were not material to our consolidated financial statements.

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