Quarterly report pursuant to Section 13 or 15(d)

Business Acquisitions and Dispositions

v3.19.2
Business Acquisitions and Dispositions
 6 Months Ended
Jun. 30, 2019
Business Combinations [Abstract]  
Business Acquisitions and Dispositions Business Dispositions
We disposed of one luxury franchised dealership and three mid-line import franchised dealerships during the six months ended June 30, 2019 that generated net cash of approximately $121.3 million. We disposed of two luxury franchised dealerships and four mid-line import franchised dealerships during the six months ended June 30, 2018 that generated net cash of approximately $122.4 million. Additionally, we terminated one luxury franchised dealership and ceased operations at a previously acquired pre-owned store in Florida during the six months ended June 30, 2018.
Revenues and other activities associated with disposed franchised dealerships that remain in continuing operations were as follows:
Three Months Ended June 30, Six Months Ended June 30,
2019 2018 2019 2018
(In thousands)
Income (loss) from operations $ (339) $ 739  $ (1,842) $ (5,505)
Gain (loss) on disposal (356) 38,422  46,394  39,613 
Lease exit accrual adjustments and charges —  2  169  (18)
Pre-tax income (loss) $ (695) $ 39,163  $ 44,721  $ 34,090 
Total revenues $ —  $ 30,751  $ 26,473  $ 108,777 
Revenues and other activities associated with disposed franchised dealerships classified as discontinued operations were as follows:
Three Months Ended June 30, Six Months Ended June 30,
2019 2018 2019 2018
(In thousands)
Income (loss) from operations $ (213) $ (191) $ (393) $ (330)
Lease exit accrual adjustments and charges —  (106) —  (215)
Pre-tax income (loss) $ (213) $ (297) $ (393) $ (545)
Total revenues $ —  $ —  $ —  $ —