Annual report pursuant to Section 13 and 15(d)

Segment Information (Tables)

v3.10.0.1
Segment Information (Tables)
 12 Months Ended
Dec. 31, 2018
Segment Reporting [Abstract]  
Summary of Reportable Operating Segment
Reportable segment revenues, segment income (loss), floor plan interest expense, depreciation and amortization, capital expenditures and assets are as follows:
Year Ended December 31,
2018 2017 2016
(In thousands)
Revenues:
Franchised Dealerships Segment $ 9,251,453  $ 9,612,899  $ 9,590,752 
EchoPark Segment 700,177  254,309  141,027 
Total revenues $ 9,951,630  $ 9,867,208  $ 9,731,779 
Year Ended December 31,
2018 2017 2016
(In thousands)
Segment income (loss) (1):
Franchised Dealerships Segment (2) $ 181,730  $ 197,121  $ 218,769 
EchoPark Segment (3) (52,465) (21,951) (13,576)
Total segment income (loss) 129,265  175,170  205,193 
Interest expense, other, net (54,059) (52,524) (50,106)
Other income (expense), net 106  (14,522) 125 
Income (loss) from continuing operations before taxes $ 75,312  $ 108,124  $ 155,212 
(1) Segment income (loss) for each segment is defined as operating income (loss) less interest expense, floor plan.
(2) For the year ended December 31, 2018, the above amount includes approximately $38.9 million of net gain on the disposal of franchised dealerships, offset partially by approximately $27.9 million of impairment expense, approximately $4.0 million of storm-related physical damage costs, approximately $1.7 million of legal costs, approximately $1.6 million of executive transition costs and approximately $1.4 million of lease exit charges. For the year ended December 31, 2017, the above amount includes approximately $14.6 million of net loss on the extinguishment of debt, approximately $8.9 million of storm-related physical damage and legal costs, approximately $7.5 million of impairment expense, approximately $0.7 million of double-carry interest and approximately $0.3 million of lease exit charges, offset partially by approximately $10.0 million of net gain on the disposal of franchised dealerships. For the year ended December 31, 2016, the above amount includes approximately $11.7 million of storm-related physical damage and legal costs, approximately $7.9 million of impairment expense and approximately $0.2 million of lease exit charges.
(3) For the year ended December 31, 2018, the above amount includes approximately $32.5 million of long-term compensation-related charges and approximately $1.6 million of impairment expense. For the year ended December 31, 2017, the above amount includes approximately $1.9 million of impairment expense, approximately $1.3 million of long-term compensation-related charges, approximately $0.6 million of lease exit charges and approximately $0.2 million of storm-related physical damage and legal costs.
Year Ended December 31,
2018 2017 2016
(In thousands)
Floor plan interest expense:
Franchised Dealerships Segment $ 46,126  $ 35,030  $ 26,631 
EchoPark Segment 2,272  1,365  1,085 
Total floor plan interest expense $ 48,398  $ 36,395  $ 27,716 

Year Ended December 31,
2018 2017 2016
(In thousands)
Depreciation and amortization:
Franchised Dealerships Segment $ 85,849  $ 83,741  $ 73,591 
EchoPark Segment 7,774  5,203  3,855 
Total depreciation and amortization $ 93,623  $ 88,944  $ 77,446 

Year Ended December 31,
2018 2017 2016
(In thousands)
Capital expenditures:
Franchised Dealerships Segment $ 116,854  $ 195,220  $ 166,405 
EchoPark Segment 46,765  39,025  39,827 
Total capital expenditures $ 163,619  $ 234,245  $ 206,232 
 
December 31,
2018 2017
(In thousands)
Assets:
Franchised Dealerships Segment $ 1,861,144  $ 1,930,336 
EchoPark Segment 245,648  200,289 
Corporate and other:
Cash and Cash Equivalents 5,854  6,352 
Goodwill, Net 509,592  525,780 
Other Intangible Assets, Net 69,705  74,589 
Other Corporate and Other Assets 1,104,864  1,081,172 
Total assets $ 3,796,807  $ 3,818,518