XML 49 R23.htm IDEA: XBRL DOCUMENT
v3.6.0.2

Segment Information | 12 Months Ended
--- | ---
Dec. 31, 2016
Segment Reporting [Abstract] |
Segment Information | 14. Segment Information As of December 31, 2016, Sonic had two operating segments: Franchised Dealerships and EchoPark®. The Franchised Dealerships segment is comprised of retail automotive franchises that sell new vehicles and buy and sell used vehicles, sell replacement parts, perform vehicle repair and maintenance services, and arrange finance and insurance products. The EchoPark® segment is comprised of stand-alone specialty retail locations that provide customers an opportunity to search, buy, service, finance and sell pre-owned vehicles. The operating segments identified above are the business activities of Sonic for which discrete financial information is available and for which operating results are regularly reviewed by Sonic’s chief operating decision maker to assess operating performance and allocate resources. Sonic’s chief operating decision maker is a group of three individuals consisting of the Company’s Chief Executive Officer and President, Executive Vice President and Chief Financial Officer, and Executive Vice President of Operations. The Company has determined that its operating segments also represent its reportable segments. Reportable segment revenue, segment income, floor plan interest expense, depreciation and amortization, capital expenditures and total assets are as follows:
|  | Year Ended December 31, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
|  | (In thousands) |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
Franchised Dealerships |  | $ | 9,602,562 |  |  | $ | 9,547,236 |  |  | $ | 9,191,661 |
EchoPark® |  |  | 129,217 |  |  |  | 77,063 |  |  |  | 5,438 |
Total consolidated revenues |  | $ | 9,731,779 |  |  | $ | 9,624,299 |  |  | $ | 9,197,099 |
|  | Year Ended December 31, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
|  | (In thousands) |
Segment income (loss) (1): |  |  |  |  |  |  |  |  |  |  |  |
Franchised Dealerships |  | $ | 217,306 |  |  | $ | 213,224 |  |  | $ | 230,733 |
EchoPark® |  |  | (12,113 | ) |  |  | (17,257 | ) |  |  | (15,913 | )
Total segment income (loss) |  |  | 205,193 |  |  |  | 195,967 |  |  |  | 214,820 |
Interest expense, other, net |  |  | (50,106 | ) |  |  | (50,910 | ) |  |  | (53,190 | )
Other income (expense), net |  |  | 125 |  |  |  | 99 |  |  |  | 97 |
Income (loss) from continuing operations before taxes |  | $ | 155,212 |  |  | $ | 145,156 |  |  | $ | 161,727 |
(1) Segment income (loss) for each segment is defined as operating income less floor plan interest expense. |
|  | Year Ended December 31, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
|  | (In thousands) |
Floor plan interest expense: |  |  |  |  |  |  |  |  |  |  |  |
Franchised Dealerships |  | $ | 26,777 |  |  | $ | 20,727 |  |  | $ | 18,727 |
EchoPark® |  |  | 939 |  |  |  | 599 |  |  |  | 66 |
Total floor plan interest expense |  | $ | 27,716 |  |  | $ | 21,326 |  |  | $ | 18,793 |
|  | Year Ended December 31, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
|  | (In thousands) |
Depreciation and amortization: |  |  |  |  |  |  |  |  |  |  |  |
Franchised Dealerships |  | $ | 73,635 |  |  | $ | 65,766 |  |  | $ | 58,001 |
EchoPark® |  |  | 3,811 |  |  |  | 3,033 |  |  |  | 259 |
Total depreciation and amortization |  | $ | 77,446 |  |  | $ | 68,799 |  |  | $ | 58,260 |
|  | Year Ended December 31, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
|  | (In thousands) |
Capital expenditures: |  |  |  |  |  |  |  |  |  |  |  |
Franchised Dealerships |  | $ | 170,876 |  |  | $ | 148,593 |  |  | $ | 117,129 |
EchoPark® |  |  | 35,356 |  |  |  | 24,656 |  |  |  | 29,303 |
Total capital expenditures |  | $ | 206,232 |  |  | $ | 173,249 |  |  | $ | 146,432 |
|  |  |  | December 31, |
|  |  |  | 2016 |  |  | 2015 |
|  |  |  | (In thousands) |
Assets: |  |  |  |  |  |  |  |  |  |
Franchised Dealerships |  |  |  | $ | 2,095,777 |  |  | $ | 2,211,232 |
EchoPark® |  |  |  |  | 128,125 |  |  |  | 76,808 |
Corporate and other: |  |  |  |  |  |  |  |  |  |
Cash and Cash Equivalents |  |  |  |  | 3,108 |  |  |  | 3,625 |
Goodwill, Net |  |  |  |  | 472,437 |  |  |  | 471,493 |
Other Intangible Assets, Net |  |  |  |  | 80,233 |  |  |  | 80,876 |
Other Corporate and other assets |  |  |  |  | 859,656 |  |  |  | 718,347 |
Total assets |  |  |  | $ | 3,639,336 |  |  | $ | 3,562,381 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration