Quarterly report pursuant to Section 13 or 15(d)

Business Acquisitions and Dispositions

v3.8.0.1
Business Acquisitions and Dispositions
 3 Months Ended
Mar. 31, 2018
Business Combinations [Abstract]  
Business Acquisitions and Dispositions
Business Acquisitions and Dispositions
Acquisitions – Sonic did not acquire any businesses during the three months ended March 31, 2018 and 2017.
Dispositions – Sonic disposed of one luxury franchised dealership during the three months ended March 31, 2018 that generated net cash of approximately $7.5 million. Additionally, Sonic terminated one luxury franchised dealership and ceased operations at one of our pre-owned stores in Florida. Sonic did not dispose of any businesses during the three months ended March 31, 2017.
Revenues and other activities associated with disposed dealerships classified as discontinued operations were as follows:
 
Three Months Ended
March 31,
 
2018
 
2017
 
(In thousands)
Income (loss) from operations
$
(139
)
 
$
(280
)
Lease exit accrual adjustments and charges
(109
)
 
(588
)
Pre-tax income (loss)
$
(248
)
 
$
(868
)
Total revenues
$
—

 
$
—


Revenues and other activities associated with disposed dealerships that remain in continuing operations were as follows:
 
Three Months Ended
March 31,
 
2018
 
2017
 
(In thousands)
Income (loss) from operations
$
(636
)
 
$
(703
)
Gain (loss) on disposal
1,630

 
(24
)
Pre-tax income (loss)
$
994

 
$
(727
)
Total revenues
$
1,919

 
$
43,202