Quarterly report [Sections 13 or 15(d)]

Intangible Assets, Goodwill and Other (Tables)

v3.25.3
Intangible Assets, Goodwill and Other (Tables)
 9 Months Ended
Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets and Goodwill
Franchised Dealerships Segment
 EchoPark Segment Powersports Segment Total
(In millions)
Balance at December 31, 2023 (1) $ 229.8  $ —  $ 24.0  $ 253.8 
Additions through current year acquisitions 8.1  —  3.3  11.4 
Reductions from dispositions (0.2) —  —  (0.2)
Prior year acquisition allocations 93.5  —  —  93.5 
Balance at December 31, 2024 (1) $ 331.2  $ —  $ 27.3  $ 358.5 
Additions through current year acquisitions (2) 263.9  —  —  263.9 
Reductions from dispositions (0.7) —  —  (0.7)
Prior year acquisition allocations 1.1  —  0.5  1.6 
Balance at September 30, 2025 (1) $ 595.5  $ —  $ 27.8  $ 623.3 
(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.
(2)Purchase accounting allocations for current year acquisitions are preliminary. Amounts will be allocated from goodwill to franchise assets once the overall purchase accounting allocation is finalized.

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, 2024 and the nine months ended September 30, 2025 were as follows:
  Franchised Dealerships Segment EchoPark Segment Powersports Segment
Total
(In millions)
Balance at December 31, 2023 $ 371.7  $ —  $ 45.7  $ 417.4 
Additions through current year acquisitions 10.9  —  2.0  12.9 
Balance at December 31, 2024 $ 382.6  $ —  $ 47.7  $ 430.3 
Reductions from dispositions (5.1) —  (0.7) (5.8)
Reductions from impairment (165.9) —  (6.5) (172.4)
Balance at September 30, 2025 $ 211.6  $ —  $ 40.5  $ 252.1