Quarterly report pursuant to Section 13 or 15(d)

Business Acquisitions and Dispositions

v3.10.0.1
Business Acquisitions and Dispositions
 6 Months Ended
Jun. 30, 2018
Business Combinations [Abstract]  
Business Acquisitions and Dispositions
Business Acquisitions and Dispositions
Acquisitions – Sonic did not acquire any businesses during the three and six months ended June 30, 2018 and 2017.
Dispositions – Sonic disposed of six franchised dealerships during the six months ended June 30, 2018 that generated net cash of approximately $122.4 million. In addition to these dispositions, Sonic terminated one luxury franchised dealership and ceased operations at one of our pre-owned stores. Sonic did not dispose of any businesses during the six months ended June 30, 2017.
Revenues and other activities associated with disposed dealerships classified as discontinued operations were as follows:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2018
 
2017
 
2018
 
2017
 
(In thousands)
Income (loss) from operations
$
(191
)
 
$
(162
)
 
$
(330
)
 
$
(441
)
Lease exit accrual adjustments and charges
(106
)
 
(139
)
 
(215
)
 
(727
)
Pre-tax income (loss)
$
(297
)
 
$
(301
)
 
$
(545
)
 
$
(1,168
)
Total revenues
$
—

 
$
—

 
$
—

 
$
—


Revenues and other activities associated with disposed dealerships that remain in continuing operations were as follows:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2018
 
2017
 
2018
 
2017
 
(In thousands)
Income (loss) from operations
$
739

 
$
(829
)
 
$
(5,505
)
 
$
(2,289
)
Gain (loss) on disposal
38,422

 
—

 
39,613

 
(24
)
Lease exit accrual adjustments and charges
2

 
—

 
(18
)
 
—

Pre-tax income (loss)
$
39,163

 
$
(829
)
 
$
34,090

 
$
(2,313
)
Total revenues
$
30,751

 
$
135,231

 
$
108,777

 
$
266,349