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Acquisitions and Dispositions | 12 Months Ended
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Dec. 31, 2018
Business Combinations [Abstract] |
Acquisitions and Dispositions | ACQUISITIONS AND DISPOSITIONS During the twelve months ended December 31, 2018, the Company acquired 5 dealerships, inclusive of 8 franchises, added one franchise and opened one additional dealership for one awarded franchise in the U.K.. The Company also acquired four dealerships in the U.S., inclusive of four franchises, and opened one additional dealership, representing one franchise. Further, the Company acquired one dealership in Brazil, representing one franchise, and opened one additional dealership, representing one franchise. Aggregate consideration paid for these dealerships totaled $140.4 million, including the associated real estate and goodwill, as well as $5.1 million of cash received in the acquisition of the dealerships. The purchase price of each dealership acquired has been allocated based upon the consideration paid and the estimated fair values of the assets acquired and liabilities assumed at the acquisition dates. The allocation of the purchase prices is based on estimates and assumptions, including the fair value of long-lived assets and intangible franchise rights. These estimates and assumptions are preliminary and, therefore, subject to change within the purchase price allocation periods (generally one year from the respective acquisition date). In addition, during the twelve months ended December 31, 2018, the Company disposed of two dealerships in the U.S., representing three franchises, terminated one additional franchise in the U.S., disposed of one dealership in the U.K., representing one franchise, and terminated one additional franchise in the U.K. As a result of these dispositions, the Company recognized a pretax gain of $24.4 million during the twelve months ended December 31, 2018. During the twelve months ended December 31, 2017, the Company acquired 12 U.K. dealerships, inclusive of 14 franchises, and opened one additional dealership for one awarded franchise in the U.K. In addition, the Company acquired three dealerships in the U.S., inclusive of four franchises, opened one dealership for one awarded franchise in the U.S. and added motorcycles to an existing BMW dealership in Brazil. Aggregate consideration paid for these dealerships totaled $120.3 million, including the associated real estate and goodwill, as well as $11.2 million of cash received in the acquisition of the dealerships. The purchase prices were allocated based upon the consideration paid and the estimated fair values of the assets acquired and liabilities assumed at the acquisition dates. In addition, during the twelve months ended December 31, 2017, the Company disposed of three dealerships: two in Brazil representing two franchises and one in the U.K. representing one franchise. During the twelve months ended December 31, 2016, the Company acquired 12 U.K. dealerships, inclusive of 15 franchises, and opened two additional dealerships for two awarded franchises in the U.K. The Company also acquired one dealership in Brazil, representing one franchise, and opened two additional dealerships in Brazil representing two acquired and two previously awarded franchises. Aggregate consideration paid for these dealerships totaled $61.2 million, including the associated real estate and goodwill, as well as $3.9 million of cash received in the acquisition of the dealerships. The purchase prices were allocated based upon the consideration paid and the estimated fair values of the assets acquired and liabilities assumed at the acquisition dates. In addition, during the twelve months ended December 31, 2016, the Company disposed of ten franchises: five in the U.S., four in Brazil and one in the U.K. Primarily as a result of these U.S., Brazil and U.K. dealership dispositions, a net pre-tax gain of $2.7 million, a net pretax loss of $0.8 million and a net pretax loss of $0.3 million, respectively, were recognized for the twelve months ended December 31, 2016.

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- Definition The entire disclosure for business combinations, including leverage buyout transactions (as applicable), and divestitures. This may include a description of a business combination or divestiture (or series of individually immaterial business combinations or divestitures) completed during the period, including background, timing, and assets and liabilities recognized and reclassified or sold. This element does not include fixed asset sales and plant closings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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