Quarterly report pursuant to Section 13 or 15(d)

Business Acquisitions and Dispositions (Tables)

v2.4.0.8
Business Acquisitions and Dispositions (Tables)
 9 Months Ended
Sep. 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:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Third Quarter Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

 

 

2014

 

 

2013

 

 

2014

 

 

2013

 

 

 

 

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from operations

 

$

(900

)

 

$

(1,389

)

 

$

(1,670

)

 

$

(22

)

 

 

Gain (loss) on disposal

 

 

148

 

 

 

(57

)

 

 

201

 

 

 

(435

)

 

 

Lease exit accrual adjustments and charges

 

 

1,006

 

 

 

(611

)

 

 

631

 

 

 

(1,977

)

 

 

Pre-tax income (loss)

 

$

254

 

 

$

(2,057

)

 

$

(838

)

 

$

(2,434

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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:  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Third Quarter Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

 

 

2014

 

 

2013

 

 

2014

 

 

2013

 

 

 

 

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from operations

 

$

(99

)

 

$

(132

)

 

$

268

 

 

$

(936

)

 

 

Gain (loss) on disposal

 

 

3,111

 

 

 

-

 

 

 

10,734

 

 

 

-

 

 

 

Pre-tax income (loss)

 

$

3,012

 

 

$

(132

)

 

$

11,002

 

 

$

(936

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenues

 

$

4,117

 

 

$

43,181

 

 

$

86,467

 

 

$

125,139

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
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:

 

 

 

 

 

 

 

 

 

 

September 30, 2014

 

 

December 31, 2013

 

 

 

 

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Inventories

 

$

7,630

 

 

$

-

 

 

 

Property and equipment, net (1)

 

 

6,170

 

 

 

4,101

 

 

 

Goodwill

 

 

1,011

 

 

 

-

 

 

 

Assets held for sale

 

$

14,811

 

 

$

4,101

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities associated with assets held for sale - non-trade

 

$

6,587

 

 

$

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)   September 30, 2014 includes approximately $0.2 million related to franchises classified as held for sale, and

 

 

 

approximately $6.0 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.