Quarterly report pursuant to Section 13 or 15(d)

Business Acquisitions and Dispositions (Tables)

v2.4.0.8
Business Acquisitions and Dispositions (Tables)
 6 Months Ended
Jun. 30, 2014
Business Combinations [Abstract]  
Results Associated with Dealerships Classified as Discontinued Operations

Revenues and other activities associated with dealerships classified as discontinued operations were as follows:

 

     Second Quarter Ended June 30,     Six Months Ended June 30,  
     2014     2013     2014     2013  
    

(In thousands)

  

Income (loss) from operations

    $ (181 )    $ 1,400      $ (770 )    $ 1,366   

Gain (loss) on disposal

      97        (341 )      53        (378 ) 

Lease exit accrual adjustments and charges

      (43 )      (698 )      (375 )      (1,365 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Pre-tax income (loss)

    $ (127 )    $ 361      $ (1,092 )    $ (377 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Total revenues

    $ —        $ —        $ —        $ —     
Results Associated with Disposed Dealerships That Remain in Continued Operations

Revenues and other activities associated with disposed dealerships that remain in continuing operations were as follows:

 

     Second Quarter Ended June 30,     Six Months Ended June 30,  
     2014     2013     2014     2013  
    

(In thousands)

  

Income (loss) from operations

    $ (61 )    $ (467 )    $ (507 )    $ (1,175 ) 

Gain (loss) on disposal

      7,260        —          7,624        —     
  

 

 

    

 

 

    

 

 

    

 

 

  

Pre-tax income (loss)

    $ 7,199      $ (467 )    $ 7,117      $ (1,175 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Total revenues

    $ 21,870      $ 23,628      $ 42,485      $ 49,612   
Assets and Liabilities Classified as Held for Sale

The major classes of assets and liabilities classified as held for sale for all periods presented in the statement of financial position are as follows:

 

     June 30, 2014      December 31, 2013  
     (In thousands)  

Inventories

    $ 11,820       $ —     

Property and equipment, net (1)

      8,499         4,101   

Goodwill

      3,432         —     

Other intangible assets, net

      4,600         —     
  

 

 

     

 

 

  

Assets held for sale

    $ 28,351       $ 4,101   
  

 

 

     

 

 

  

Liabilities associated with assets held for sale - trade

    $ 11,641       $ —     

 

(1) June 30, 2014 includes approximately $0.3 million related to franchises classified as held for sale, and approximately $8.2 million related to real estate not being used in operations. December 31, 2013 includes approximately $4.1 million related to real estate not being used in operations.