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DISCONTINUED OPERATIONS AND OTHER DIVESTITURES (Tables) | 12 Months Ended
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Dec. 31, 2022
Discontinued Operations and Disposal Groups [Abstract] |
Disposal groups, including discontinued operations | The following table summarizes the fair value of the proceeds received from the disposition and net carrying value of the assets disposed as of December 31, 2022 (in millions):
Fair value of proceeds from disposition |  | $ | 92.5 |  |
Net assets disposed |  | 48.8 |  |
Gain before currency translation adjustments |  | 43.7 |  |
Amount of currency translation loss recorded in AOCI |  | (122.8) |  |
Incremental costs to sell |  | 8.4 |  |
Net loss on the Brazil Disposal |  | $ | (87.5) |  |
Results of the Brazil Discontinued Operations were as follows (in millions):
|  | Years Ended December 31,
|  | 2022 |  | 2021 |  | 2020
REVENUES: |  |  |  |  |  |
New vehicle retail sales |  | $ | 109.0 |  |  | $ | 205.6 |  |  | $ | 152.4 |
Used vehicle retail sales |  | 44.0 |  |  | 58.1 |  |  | 50.0 |
Used vehicle wholesale sales |  | 10.1 |  |  | 11.3 |  |  | 12.3 |
Parts and service sales |  | 23.8 |  |  | 38.7 |  |  | 31.9 |
Finance, insurance and other, net |  | 3.3 |  |  | 6.1 |  |  | 5.0 |
Total revenues |  | 190.2 |  |  | 319.8 |  |  | 251.6 |
COST OF SALES: |  |  |  |  |  |
New vehicle retail sales |  | 98.5 |  |  | 184.9 |  |  | 141.3 |
Used vehicle retail sales |  | 41.2 |  |  | 53.1 |  |  | 46.3 |
Used vehicle wholesale sales |  | 10.0 |  |  | 10.5 |  |  | 11.5 |
Parts and service sales |  | 14.5 |  |  | 22.0 |  |  | 17.7 |
Total cost of sales |  | 164.2 |  |  | 270.6 |  |  | 216.7 |
GROSS PROFIT |  | 26.1 |  |  | 49.2 |  |  | 34.8 |
Selling, general and administrative expenses |  | 15.1 |  |  | 34.3 |  |  | 31.1 |
Depreciation and amortization expense |  | 0.9 |  |  | 1.5 |  |  | 2.3 |
Asset impairments |  | 6.3 |  |  | 77.5 |  |  | 11.1 |
INCOME (LOSS) FROM DISCONTINUED OPERATIONS |  | 3.7 |  |  | (64.1) |  |  | (9.6) |
Floorplan interest expense |  | 1.4 |  |  | 1.1 |  |  | 0.3 |
Other interest (income) expense, net |  | (1.8) |  |  | 0.9 |  |  | 0.7 |
Loss on extinguishment of debt |  | — |  |  | 3.8 |  |  | — |
Other expenses |  | 1.5 |  |  | — |  |  | — |
INCOME (LOSS) BEFORE INCOME TAXES — DISCONTINUED OPERATIONS |  | 2.6 |  |  | (69.9) |  |  | (10.5) |
Provision (benefit) for income taxes |  | 5.3 |  |  | 3.4 |  |  | (0.3) |
NET LOSS — DISCONTINUED OPERATIONS |  | $ | (2.7) |  |  | $ | (73.3) |  |  | $ | (10.2) |
The following table presents cash flows from operating and investing activities for the Brazil Discontinued Operations (in millions):
|  | Years Ended December 31,
|  | 2022 |  | 2021 |  | 2020
Net cash provided by operating activities — discontinued operations |  | $ | 26.6 |  |  | $ | 5.2 |  |  | $ | 13.1 |
Net cash provided by (used in) investing activities — discontinued operations |  | $ | 59.1 |  |  | $ | (1.5) |  |  | $ | (6.8) |
Assets and liabilities of the Brazil Discontinued Operations were as follows (in millions):
|  | As of December 31,
|  | 2022 |  | 2021
Cash and cash equivalents |  | $ | — |  |  | $ | 3.7 |
Contracts-in-transit and vehicle receivables, net |  | — |  |  | 2.3 |
Accounts and notes receivable, net |  | — |  |  | 11.8 |
Inventories |  | — |  |  | 37.2 |
Prepaid expenses |  | — |  |  | 1.9 |
Other current assets |  | 1.3 |  |  | — |
Current assets of discontinued operations |  | 1.3 |  |  | 56.9 |
Property and equipment, net |  | — |  |  | 22.3 |
Operating lease assets |  | — |  |  | 2.4 |
Other long-term assets |  | 22.8 |  |  | 7.8 |
Non-current assets of discontinued operations |  | 22.8 |  |  | 32.5 |
Total assets, before valuation allowance |  | 24.1 |  |  | 89.5 |
Valuation allowance |  | — |  |  | (76.4) |
Total assets, net of valuation allowance |  | $ | 24.1 |  |  | $ | 13.0 |
Floorplan notes payable — credit facility and other |  | $ | — |  |  | $ | 3.3 |
Floorplan notes payable — manufacturer affiliates |  | — |  |  | 20.1 |
Current operating lease liabilities |  | — |  |  | 2.5 |
Accounts payable |  | — |  |  | 13.7 |
Accrued expenses and other current liabilities |  | 7.8 |  |  | 8.7 |
Current liabilities of discontinued operations |  | $ | 7.8 |  |  | $ | 48.3 |
Assets and Liabilities Held for Sale Assets and liabilities classified as held for sale consisted of the following (in millions):
|  | As of December 31,
|  | 2022 |  | 2021
Current assets classified as held for sale |  |  |  |
Brazil Discontinued Operations |  | $ | — |  |  | $ | 13.0 |
Prime Acquisition (1) |  | 9.8 |  |  | 52.3 |
Other (2) |  | 43.8 |  |  | 34.9 |
Total current assets classified as held for sale |  | $ | 53.6 |  |  | $ | 100.3 |
Current liabilities classified as held for sale |  |  |  |
Brazil Discontinued Operations |  | $ | — |  |  | $ | 48.3 |
Prime Acquisition (1) |  | 1.1 |  |  | 1.6 |
Other |  | 3.7 |  |  | — |
Total current liabilities classified as held for sale |  | $ | 4.8 |  |  | $ | 49.9 |
(1) For additional details on current assets and current liabilities classified as held for sale in connection with the Prime Acquisition, refer to Note 3. Acquisitions. (2) Includes $13.4 million and $9.9 million of goodwill reclassified to assets held for sale as of December 31, 2022 and December 31, 2021.

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