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Business Acquisitions and Dispositions | 9 Months Ended
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Sep. 30, 2018
Business Combinations [Abstract] |
Business Acquisitions and Dispositions | Business Acquisitions and DispositionsAcquisitions – Sonic did not acquire any businesses during the three and nine months ended September 30, 2018. During the three months ended September 30, 2017, Sonic acquired a pre-owned vehicle business for approximately $76.6 million. Dispositions – Sonic disposed of six franchised dealerships during the nine months ended September 30, 2018 that generated net cash of approximately $121.9 million. In addition to these dispositions, Sonic terminated one luxury franchised dealership and ceased operations at three stores in our EchoPark Segment. Sonic disposed of one mid-line import franchised dealership during the three months ended September 30, 2017 that generated net cash of approximately $22.6 million. Revenues and other activities associated with disposed franchised dealerships classified as discontinued operations were as follows:
| Three Months Ended September 30, |  |  |  | Nine Months Ended September 30, |  |  |  |  |  |
| 2018 |  | 2017 |  | 2018 |  | 2017 |  |  |  |
| (In thousands) |  |  |  |  |  |  |  |  |  |
Income (loss) from operations | $ | (148) |  | $ | (119) |  | $ | (478) |  | $ | (561) |  |  |  |
Lease exit accrual adjustments and charges | (104) |  | (362) |  | (319) |  | (1,089) |  |  |  |
Pre-tax income (loss) | $ | (252) |  | $ | (481) |  | $ | (797) |  | $ | (1,650) |  |  |  |
Total revenues | $ | — |  | $ | — |  | $ | — |  | $ | — |  |  |  |
Revenues and other activities associated with disposed franchised dealerships that remain in continuing operations were as follows:
| Three Months Ended September 30, |  |  |  | Nine Months Ended September 30, |  |  |  |  |  |
| 2018 |  | 2017 |  | 2018 |  | 2017 |  |  |  |
| (In thousands) |  |  |  |  |  |  |  |  |  |
Income (loss) from operations | $ | (910) |  | $ | (1,779) |  | $ | (6,039) |  | $ | (4,067) |  |  |  |
Gain (loss) on disposal | (88) |  | 8,490 |  | 39,149 |  | 8,466 |  |  |  |
Lease exit accrual adjustments and charges | (15) |  | — |  | (33) |  | — |  |  |  |
Pre-tax income (loss) | $ | (1,013) |  | $ | 6,711 |  | $ | 33,077 |  | $ | 4,399 |  |  |  |
Total revenues | $ | — |  | $ | 127,313 |  | $ | 108,754 |  | $ | 393,662 |  |  |  |

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: 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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- References No definition available. + Details
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