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Segment Information (Tables)
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Summary of Reportable Operating Segment
Reportable segment financial information for the three and six months ended June 30, 2024 and 2023 were as follows:
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
(In millions)
Segment Revenues:
Franchised Dealerships Segment revenues:
Retail new vehicles$1,530.9 $1,583.3 $2,970.8 $3,004.3 
Fleet new vehicles26.2 28.3 45.8 47.1 
Total new vehicles1,557.1 1,611.6 3,016.6 3,051.4 
Used vehicles732.1 774.5 1,461.4 1,542.0 
Wholesale vehicles48.4 55.6 96.9 114.0 
Parts, service and collision repair434.4 433.4 874.3 857.2 
Finance, insurance and other, net124.2 132.2 243.8 249.4 
Franchised Dealerships Segment revenues$2,896.2 $3,007.3 $5,693.0 $5,814.0 
EchoPark Segment revenues:
Retail new vehicles$— $— $— $1.0 
Used vehicles448.9 524.0931.7 1,096.5 
Wholesale vehicles21.9 35.5 50.7 62.5 
Finance, insurance and other, net46.5 41.1 94.3 91.1 
EchoPark Segment revenues$517.3 $600.6 $1,076.7 $1,251.1 
Powersports Segment revenues:
Retail new vehicles$21.7 $24.9 $37.5 $45.7 
Used vehicles5.3 7.4 8.7 12.3 
Wholesale vehicles0.9 0.4 1.1 0.5 
Parts, service and collision repair9.7 10.3 16.5 17.0 
Finance, insurance and other, net2.0 2.0 3.5 3.5 
Powersports Segment revenues$39.6 $45.0 $67.3 $79.0 
Total consolidated revenues$3,453.0 $3,652.9 $6,837.0 $7,144.1 

Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
(In millions)
Segment Income (Loss) (1):
Franchised Dealerships Segment (2)
$52.7 $145.9 $116.4 $255.8 
EchoPark Segment (3)
3.9 (52.8)0.9 (99.7)
Powersports Segment0.5 2.0 (1.7)2.6 
Total segment income$57.1 $95.1 $115.6 $158.7 
Impairment charges (4)
(1.4)(62.6)(2.4)(62.6)
Income before taxes$55.7 $32.5 $113.2 $96.1 
(1)Segment income (loss) for each segment is defined as income (loss) before taxes and impairment charges.
(2)For the three months ended June 30, 2024, amount includes approximately $11.2 million of pre-tax charges related to excess compensation related to the CDK outage and approximately $3.6 million of pre-tax charges related to hail and storm damage. For the three months ended June 30, 2023, amount includes approximately $20.9 million of pre-tax gain related to acquisitions and dispositions and approximately $1.9 million of pre-tax charges related to hail and storm damage. For the six months ended June 30, 2024, amount includes approximately $11.2 million of pre-tax charges related to excess compensation related to the CDK outage, approximately $3.6 million of pre-tax charges related to hail and storm damage, approximately $2.2 million of pre-tax charges related to severance and long-term compensation expense, and approximately $1.0 million of pre-tax impairment charges related to property and equipment. For the six months ended June 30, 2023, amount includes approximately $20.9 million of pre-tax gain related to acquisitions and dispositions and approximately $1.9 million of pre-tax charges related to hail and storm damage.
(3)For the three months ended June 30, 2024, amount includes approximately $3.0 million of pre-tax gain on exit of leased properties, approximately $1.4 million of pre-tax impairment charges related to property and equipment, approximately $0.7 million of pre-tax charges for severance and long-term compensation expense, approximately $0.6 million of pre-tax gain on acquisitions and dispositions, and approximately $0.4 million of pre-tax charges related to excess compensation related to the CDK outage. For the three months ended June 30, 2023, amount includes approximately $62.6 million of pre-tax impairment charges related to fixed assets, lease right-of-use assets, and other contractual obligations related to abandoned property, approximately $10.0 million of pre-tax charges related to used vehicle inventory valuation adjustments, approximately $2.2 million of pre-tax charges for long-term compensation expense, approximately $0.4 million of pre-tax lease exit charges, and approximately $0.2 million of pre-tax loss related to acquisitions and dispositions. For the six months ended June 30, 2024, amount includes approximately $3.0 million of pre-tax gain on exit of leased properties, approximately $2.7 million of pre-tax charges for severance and long-term compensation expense, approximately $2.2 million of pre-tax charges related to closed store accrued expenses related to indefinite suspension of operations at certain EchoPark locations, approximately $1.4 million of pre-tax impairment charges related to property and equipment, approximately $0.6 million of pre-tax gain on acquisitions and dispositions and approximately $0.4 million of pre-tax charges related to excess compensation related to the CDK outage. For the six months ended June 30, 2023, amount includes approximately $62.6 million of pre-tax impairment charges related to fixed assets, lease right-of-use assets, and other contractual obligations related to abandoned property, approximately $10.0 million of pre-tax charges related to used vehicle inventory valuation adjustments, approximately $4.2 million of pre-tax charges for long-term compensation expense, approximately $0.4 million of pre-tax lease exit charges, and approximately $0.2 million of pre-tax loss related to acquisitions and dispositions.
(4)For the three months ended June 30, 2024, amount includes approximately $1.4 million of pre-tax property and equipment charges for real estate held for sale in the EchoPark Segment. For the three months ended June 30, 2023, amount includes approximately $62.6 million of pre-tax impairment charges related to fixed assets, lease right-of-use assets, and other contractual obligations related to abandoned property for the EchoPark Segment. For the six months ended June 30, 2024, amount includes approximately $1.4 million of pre-tax property and equipment charges for real estate held for sale in the EchoPark Segment and approximately $1.0 million of pre-tax property and equipment charges for the Franchised Dealerships Segment. For the six months ended June 30, 2023, amount includes approximately $62.6 million of pre-tax impairment charges related to fixed assets, lease right-of-use assets, and other contractual obligations related to abandoned property for the EchoPark Segment.
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
(In millions)
Segment Impairment Charges:
Franchised Dealerships Segment$— $— $1.0 $— 
EchoPark Segment1.4 62.6 1.4 62.6 
Powersports Segment— — — — 
Total impairment charges$1.4 $62.6 $2.4 $62.6 
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
(In millions)
Segment Depreciation and Amortization:
Franchised Dealerships Segment$30.4 $27.9 $60.2 $54.5 
EchoPark Segment5.6 7.4 11.1 14.4 
Powersports Segment1.0 0.8 2.0 1.6 
Total depreciation and amortization$37.0 $36.1 $73.2 $70.5 

Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
(In millions)
Segment Floor Plan Interest Expense:
Franchised Dealerships Segment$18.0 $11.9 $34.0 $21.8 
EchoPark Segment3.8 4.8 7.6 9.3 
Powersports Segment0.5 0.3 1.0 0.4 
Total floor plan interest expense$22.2 $17.0 $42.5 $31.5 


Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
(In millions)
Segment Interest Expense, Other, Net:
Franchised Dealerships Segment$27.8 $27.5 $55.6 $54.4 
EchoPark Segment0.7 0.9 1.3 1.8 
Powersports Segment0.8 0.5 1.3 1.1 
Total interest expense, other, net$29.3 $28.9 $58.3 $57.3 
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
(In millions)
Segment Capital Expenditures:
Franchised Dealerships Segment$48.0 $34.4 $91.1 $65.4 
EchoPark Segment0.2 2.8 0.6 8.5 
Powersports Segment0.6 1.1 0.9 1.6 
Total capital expenditures$48.8 $38.3 $92.6 $75.5 
June 30, 2024December 31, 2023
(In millions)
Segment Assets:
Franchised Dealerships Segment$4,499.0 $4,110.8 
EchoPark Segment603.4 667.9 
Powersports Segment234.6 212.0 
Corporate and other:
Cash and cash equivalents67.2 28.9 
Floor plan deposit balance400.0 345.0 
Total assets$5,804.2 $5,364.6