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Acquisitions and Dispositions
9 Months Ended
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.