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Segment Information
 9 Months Ended
Sep. 30, 2021
Segment Reporting [Abstract]  
Segment Information 9. Segment Information
As of September 30, 2022, Sonic had two operating segments: (1) retail automotive franchises that sell new vehicles and buy and sell used vehicles, sell replacement parts, perform vehicle maintenance, warranty and repair services, and arrange finance and insurance products (the “Franchised Dealerships Segment”); and (2) pre-owned vehicle specialty retail locations that provide guests an opportunity to search our nationwide inventory, purchase a pre-owned vehicle, select finance and insurance products and sell their current vehicle to us (the “EchoPark Segment”). Sonic has determined that its operating segments also represent its reportable segments.
The reportable segments identified above are the business activities of Sonic for which discrete financial information is available and for which operating results are regularly reviewed by Sonic’s chief operating decision maker to assess operating performance and allocate resources. Sonic’s chief operating decision maker is a group of three individuals consisting of: (1) the Company’s Chief Executive Officer; (2) the Company’s President; and (3) the Company’s Chief Financial Officer.
Reportable segment financial information for the three and nine months ended September 30, 2022 and 2021 were as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(In millions)
Revenues:
Franchised Dealerships Segment revenues:
Retail new vehicles$1,359.6 $1,124.5 $4,047.1 $3,710.8 
Fleet new vehicles32.0 18.9 70.0 50.9 
Total new vehicles$1,391.6 $1,143.4 $4,117.1 $3,761.7 
Used vehicles842.4 750.3 2,568.1 2,173.3 
Wholesale vehicles75.8 64.1 261.2 183.2 
Parts, service and collision repair404.7 339.9 1,183.4 994.1 
Finance, insurance and other, net125.8 111.8 382.1 333.5 
Franchised Dealerships Segment revenues$2,840.3 $2,409.5 $8,511.9 $7,445.8 
EchoPark Segment revenues:
Retail new vehicles$13.5 $3.5 $21.6 $4.4 
Used vehicles515.6 574.51,610.2 1,535.6 
Wholesale vehicles38.9 33.0 143.6 73.5 
Finance, insurance and other, net39.8 52.3 123.2 152.6 
EchoPark Segment revenues$607.8 $663.3 $1,898.6 $1,766.1 
Total consolidated revenues$3,448.1 $3,072.8 $10,410.5 $9,211.9 

Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(In millions)
Income (Loss) (1):
Franchised Dealerships Segment$146.3 $145.1 $472.2 $381.1 
EchoPark Segment(29.9)(32.9)(99.7)(45.3)
Income from continuing operations before taxes$116.4 $112.2 $372.5 $335.8 
(1)Segment income (loss) for each segment is defined as income (loss) from continuing operations before taxes and impairment charges.

Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(In millions)
Depreciation and Amortization:
Franchised Dealerships Segment$25.8 $21.2 $75.8 $62.3 
EchoPark Segment7.0 4.0 18.2 11.4 
Total depreciation and amortization$32.8 $25.2 $94.0 $73.7 

Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(In millions)
Floor Plan Interest Expense:
Franchised Dealerships Segment$6.6 $2.0 $13.9 $9.2 
EchoPark Segment3.0 1.3 6.7 3.5 
Total floor plan interest expense$9.6 $3.3 $20.6 $12.8 
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(In millions)
Interest Expense, Other, Net:
Franchised Dealerships Segment$21.4 $9.5 $61.7 $29.2 
EchoPark Segment1.5 0.3 3.4 1.0 
Total interest expense, other, net$22.9 $9.8 $65.1 $30.2 
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(In millions)
Capital Expenditures:
Franchised Dealerships Segment$43.8 $53.8 $95.8 $122.0 
EchoPark Segment53.5 22.7 101.8 59.5 
Total capital expenditures$97.3 $76.5 $197.6 $181.5 
September 30, 2022December 31, 2021
(In millions)
Assets:
Franchised Dealerships Segment$4,004.9 $3,934.9 
EchoPark Segment684.4 740.6 
Corporate and other:
Cash and cash equivalents139.0 299.4 
Other corporate assets— 0.2 
Total assets$4,828.3 $4,975.1