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Segment Information
 9 Months Ended
Sep. 30, 2020
Segment Reporting [Abstract]  
Segment Information 9. Segment Information
As of September 30, 2021, Sonic had two operating segments: (1) retail automotive franchises that sell new vehicles and buy and sell used vehicles, sell replacement parts, perform vehicle maintenance, warranty and repair services, and arrange finance and insurance products (the “Franchised Dealerships Segment”); and (2) pre-owned vehicle specialty retail locations that provide guests an opportunity to search our nationwide inventory, purchase a vehicle, select finance and insurance products and sell their current vehicle to us (the “EchoPark Segment”). Sonic has determined that its operating segments also represent its reportable segments.
The reportable 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: (1) the Company’s Chief Executive Officer; (2) the Company’s President; and (3) the Company’s Chief Financial Officer.

Reportable segment financial information for the three and nine months ended September 30, 2021 and 2020 were as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2021202020212020
(In thousands)
Segment Revenues:
Franchised Dealerships Segment revenues:
New vehicles$1,143,416 $1,098,302 $3,761,718 $2,957,794 
Used vehicles750,263 615,565 2,173,322 1,718,151 
Wholesale vehicles64,052 48,526 183,212 119,474 
Parts, service and collision repair339,930 310,035 994,125 886,534 
Finance, insurance and other, net111,808 91,035 333,394 254,465 
Franchised Dealerships Segment revenues$2,409,469 $2,163,463 $7,445,771 $5,936,418 
EchoPark Segment revenues:
New vehicles$3,506 $— $4,415 $— 
Used vehicles559,229 330,463 1,492,964 886,806 
Wholesale vehicles33,035 7,976 73,489 18,747 
Parts, service and collision repair15,297 10,894 42,611 28,133 
Finance, insurance and other, net52,276 35,749 152,606 98,383 
EchoPark Segment revenues$663,343 $385,082 $1,766,085 $1,032,069 
Total consolidated revenues$3,072,812 $2,548,545 $9,211,856 $6,968,487 
Three Months Ended September 30,Nine Months Ended September 30,
2021202020212020
(In thousands, except unit data)
Segment Income (Loss) (1):
Franchised Dealerships Segment (2)$145,137 $80,460 $381,094 $138,805 
EchoPark Segment(32,887)239 (45,271)4,912 
Total segment income (loss)$112,250 $80,699 $335,823 $143,717 
Impairment charges (3)— (26)— (268,859)
Income (loss) from continuing operations before taxes$112,250 $80,673 $335,823 $(125,142)

(1)Segment income (loss) for each segment is defined as income (loss) from continuing operations before taxes and impairment charges.
(2)For the three months ended September 30, 2020, the above amount includes a pre-tax gain on the disposal of a franchised dealership of approximately $3.2 million.
(3)For the nine months ended September 30, 2020, the above amount includes a pre-tax impairment charge of approximately $268.0 million related to adjustments in fair value of goodwill for the Franchised Dealerships Segment as a result of the economic disruptions due to the worldwide spread of COVID-19 which had adversely affected our
business, as well as a pre-tax impairment charge of approximately $0.9 million related to the abandonment of certain construction projects.
Three Months Ended September 30,Nine Months Ended September 30,
2021202020212020
(In thousands)
Impairment Charges:
Franchised Dealerships Segment$— $26 $— $268,859 
EchoPark Segment— — — — 
Total impairment charges$— $26 $— $268,859 
Three Months Ended September 30,Nine Months Ended September 30,
2021202020212020
(In thousands)
Depreciation and Amortization:
Franchised Dealerships Segment$21,266 $20,170 $62,258 $59,654 
EchoPark Segment3,973 2,764 11,429 8,225 
Total depreciation and amortization$25,239 $22,934 $73,687 $67,879 

Three Months Ended September 30,Nine Months Ended September 30,
2021202020212020
(In thousands)
Floor Plan Interest Expense:
Franchised Dealerships Segment$1,973 $4,234 $9,243 $19,517 
EchoPark Segment1,367 765 3,538 2,304 
Total floor plan interest expense$3,340 $4,999 $12,781 $21,821 
Three Months Ended September 30,Nine Months Ended September 30,
2021202020212020
(In thousands)
Interest Expense, Other, Net:
Franchised Dealerships Segment$9,477 $10,615 $29,158 $30,771 
EchoPark Segment340 147 1,022 752 
Total interest expense, other, net$9,817 $10,762 $30,180 $31,523 
Three Months Ended September 30,Nine Months Ended September 30,
2021202020212020
(In thousands)
Capital Expenditures:
Franchised Dealerships Segment$53,774 $18,237 $122,022 $70,875 
EchoPark Segment22,693 12,085 59,494 21,181 
Total capital expenditures$76,467 $30,322 $181,516 $92,056 
September 30, 2021December 31, 2020
(In thousands)
Assets:
Franchised Dealerships Segment assets$2,638,803 $3,096,811 
EchoPark Segment assets647,075 478,869 
Corporate and other:
Cash and cash equivalents220,082 170,313 
Other corporate assets3 — 
Total assets$3,505,963 $3,745,993