|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Franchised
Dealerships
Segment |
|
EchoPark Segment |
|
Powersports Segment |
|
Total |
|
(In millions) |
| Balance at December 31, 2022 (1) |
$ |
221.8 |
|
|
$ |
— |
|
|
$ |
9.2 |
|
|
$ |
231.0 |
|
| Additions through current year acquisitions |
— |
|
|
— |
|
|
11.9 |
|
|
11.9 |
|
| Reductions from dispositions |
(1.8) |
|
|
— |
|
|
— |
|
|
(1.8) |
|
| Reductions from impairment |
— |
|
|
— |
|
|
— |
|
|
— |
|
| Prior year acquisition allocations |
9.8 |
|
|
— |
|
|
2.9 |
|
|
12.7 |
|
| Balance at December 31, 2023 (1) |
$ |
229.8 |
|
|
$ |
— |
|
|
$ |
24.0 |
|
|
$ |
253.8 |
|
| Additions through current year acquisitions |
— |
|
|
— |
|
|
— |
|
|
— |
|
| Reductions from dispositions |
(0.2) |
|
|
— |
|
|
— |
|
|
(0.2) |
|
| Reductions from impairment |
— |
|
|
— |
|
|
— |
|
|
— |
|
| Prior year acquisition allocations |
93.5 |
|
|
— |
|
|
— |
|
|
93.5 |
|
| Balance at September 30, 2024 (1) |
$ |
323.1 |
|
|
$ |
— |
|
|
$ |
24.0 |
|
|
$ |
347.1 |
|
(1)Net of accumulated impairment losses of $1.1 billion and $202.9 million related to the Franchised Dealerships Segment and the EchoPark Segment, respectively.
During the quarter ended September 30, 2024, we identified an error related to the goodwill associated with the purchase of certain franchise assets in a business combination in the year ended December 31, 2021. As a result, during the quarter ended September 30, 2024, we recorded a $93.5 million adjustment to goodwill to provide for deferred income tax liabilities.
The changes in the carrying amount of franchise assets for the year ended December 31, 2023 and the nine months ended September 30, 2024 were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Franchised Dealerships Segment |
|
EchoPark Segment |
|
Powersports Segment |
|
Total |
|
|
|
|
(In millions) |
| Balance at December 31, 2022 |
$ |
371.7 |
|
|
$ |
1.9 |
|
|
$ |
23.1 |
|
|
$ |
396.7 |
|
|
|
|
| Additions through current year acquisitions |
— |
|
|
— |
|
|
22.6 |
|
|
22.6 |
|
|
|
|
| Reductions from dispositions |
— |
|
|
(1.9) |
|
|
— |
|
|
(1.9) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Balance at December 31, 2023 |
$ |
371.7 |
|
|
$ |
— |
|
|
$ |
45.7 |
|
|
$ |
417.4 |
|
|
|
|
| Additions through current year acquisitions |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
|
|
| Reductions from dispositions |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Balance at September 30, 2024 |
$ |
371.7 |
|
|
$ |
— |
|
|
$ |
45.7 |
|
|
$ |
417.4 |
|
|
|
|
|