Business Acquisitions and Dispositions |
9 Months Ended |
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Sep. 30, 2022 | |
| Business Combinations [Abstract] | |
| Business Acquisitions and Dispositions |
2. Business Acquisitions and Dispositions
During the nine months ended September 30, 2022, we recognized a $14.7 million impact of a post-close adjustment related to the acquisition of RFJ Auto Partners, Inc. and its subsidiaries (collectively, “RFJ Auto”) completed in December 2021. See, “RFJ Acquisition,” for further discussion. We acquired two franchised dealership locations and one business to be included in our EchoPark Segment during the nine months ended September 30, 2022 for an aggregate gross purchase price (including inventory acquired and subsequently funded by floor plan notes payable) of approximately $79.5 million. The allocation of the $79.5 million aggregate gross purchase price for the acquisitions completed during the nine months ended September 30, 2022 included inventory of approximately $31.0 million, property and equipment of approximately $0.5 million, franchise assets of approximately $33.2 million, goodwill of approximately $14.1 million, other assets of $1.1 million, and liabilities of $0.4 million. We acquired three businesses to be included in our EchoPark segment and two franchised dealership locations during the nine months ended September 30, 2021 for an aggregate gross purchase price (including inventory acquired and subsequently funded by floor plan notes payable) of approximately $66.1 million.
We did not dispose of any businesses during the nine months ended September 30, 2022. During the nine months ended September 30, 2021, we disposed of one luxury franchised dealership, which generated net cash from dispositions of approximately $3.9 million.
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