Business Acquisitions and Dispositions

6 Months Ended

Jun. 30, 2019

Business Dispositions

We disposed of one luxury franchised dealership and three mid-line import franchised dealerships during the six months ended June 30, 2019 that generated net cash of approximately $121.3 million. We disposed of two luxury franchised dealerships and four mid-line import franchised dealerships during the six months ended June 30, 2018 that generated net cash of approximately $122.4 million. Additionally, we terminated one luxury franchised dealership and ceased operations at a previously acquired pre-owned store in Florida during the six months ended June 30, 2018.

Revenues and other activities associated with disposed franchised dealerships that remain in continuing operations were as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
	2019		2018		2019		2018
	(In thousands)
Income (loss) from operations	$	(339)	$	739	$	(1,842)	$	(5,505)
Gain (loss) on disposal	(356)		38,422		46,394		39,613
Lease exit accrual adjustments and charges	—		2		169		(18)
Pre-tax income (loss)	$	(695)	$	39,163	$	44,721	$	34,090
Total revenues	$	—	$	30,751	$	26,473	$	108,777

Revenues and other activities associated with disposed franchised dealerships classified as discontinued operations were as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
	2019		2018		2019		2018
	(In thousands)
Income (loss) from operations	$	(213)	$	(191)	$	(393)	$	(330)
Lease exit accrual adjustments and charges	—		(106)		—		(215)
Pre-tax income (loss)	$	(213)	$	(297)	$	(393)	$	(545)
Total revenues	$	—	$	—	$	—	$	—