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Acquisitions and Dispositions | 9 Months Ended
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Sep. 30, 2019
Business Combinations [Abstract] |
ACQUISITIONS AND DISPOSITIONS | ACQUISITIONS AND DISPOSITIONS Acquisitions During the nine months ended September 30, 2019, the Company acquired two dealerships representing four franchises in the U.S. and four dealerships representing five franchises in the U.K. Aggregate consideration paid for these dealerships, which were accounted for as business combinations, totaled $97.0 million, including the associated real estate and goodwill. 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. The Company also opened one dealership representing one awarded franchise in the U.S. and one dealership representing one awarded franchise in the U.K. During the nine months ended September 30, 2018, the Company acquired five dealerships representing eight franchises and added one franchise in the U.K., acquired one dealership representing one franchise in Brazil, and acquired four dealerships inclusive of four franchises in the U.S. Aggregate consideration paid for these dealerships, which were accounted for as business combinations, totaled $140.4 million, including the associated real estate and goodwill. Also included in the consideration paid was $5.1 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. Dispositions During the nine months ended September 30, 2019, the Company disposed of four dealerships representing seven franchises and terminated two franchises in the U.S., disposed of three dealerships representing four franchises in the U.K. and disposed of one dealership representing one franchise in Brazil. The Company recorded a net pre-tax gain totaling $5.0 million related to the these dispositions, which consisted of dealership assets and related real estate. During the nine months ended September 30, 2018, the Company disposed of two dealerships representing three franchises and terminated one franchise in the U.S. and disposed of one franchise in the U.K. The Company recorded a net pre-tax gain totaling $24.4 million related to these dispositions, which consisted of dealership assets and related real estate.

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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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