Sonic Automotive (SAH) 10-Q 11 May 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2020	Apr. 29, 2020
Document Information [Line Items]
Entity Registrant Name	SONIC AUTOMOTIVE, INC.
Entity Central Index Key	0001043509
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Document Period End Date	Mar. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Trading Symbol	SAH
Amendment Flag	false
Entity Emerging Growth Company	false
Entity Small Business	false
City Area Code	(704)
Entity Address, Address Line One	4401 Colwick Road
Entity Address, Postal Zip Code	28211
Entity Tax Identification Number	56-2010790
Local Phone Number	566-2400
Entity File Number	1-13395
Entity Shell Company	false
Entity Current Reporting Status	Yes
Entity Address, City or Town	Charlotte,
Entity Address, State or Province	NC
Document Quarterly Report	true
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		30,890,395
Class B common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		12,029,375

Details

Details	3 Months Ended
	Mar. 31, 2020
Document Information [Line Items]
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Security Exchange Name	NYSE
Entity Incorporation, State or Country Code	DE
Document Transition Report	false
Title of 12(b) Security	Class A Common Stock, par value $0.01 per share
Entity Small Business	false
Entity Emerging Growth Company	false

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) shares in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenues:
Revenues	$ 2,308,056,000	$ 2,389,138,000
Cost of Sales:
Cost of Sales	(1,957,478,000)	(2,030,127,000)
Gross profit	350,578,000	359,011,000
Selling, general and administrative expenses	(282,156,000)	(247,095,000)
Impairment charges	(268,000,000)	(1,952,000)
Depreciation and amortization	(22,297,000)	(22,649,000)
Operating income (loss)	(221,875,000)	87,315,000
Other income (expense):
Interest expense, floor plan	(10,508,000)	(13,226,000)
Interest expense, other, net	(10,965,000)	(12,853,000)
Other income (expense), net	100,000	100,000
Total other income (expense)	(21,373,000)	(25,979,000)
Income (loss) from continuing operations before taxes	(243,248,000)	61,336,000
Provision for income taxes for continuing operations - benefit (expense)	44,117,000	(18,987,000)
Income (loss) from continuing operations	(199,131,000)	42,349,000
Discontinued operations:
Income (loss) from discontinued operations before taxes	(285,000)	(180,000)
Provision for income taxes for discontinued operations - benefit (expense)	83,000	52,000
Income (loss) from discontinued operations	(202,000)	(128,000)
Net income (loss)	$ (199,333,000)	$ 42,221,000
Basic earnings (loss) per common share:
Earnings (loss) per share from continuing operations (usd per share)	$ (4.67)	$ 0.99
Earnings (loss) per share from discontinued operations (usd per share)	(0.01)	(0.01)
Earnings (loss) per common share (usd per share)	$ (4.68)	$ 0.98
Weighted average common shares outstanding	42,615	42,838
Diluted earnings (loss) per common share:
Earnings (loss) per share from continuing operations (usd per share)	$ (4.67)	$ 0.99
Earnings (loss) per share from discontinued operations (usd per share)	(0.01)	(0.01)
Earnings (loss) per common share (usd per share)	$ (4.68)	$ 0.98
Weighted average common shares outstanding	42,615	42,888
Total vehicles
Revenues:
Revenues	$ 1,858,084,000	$ 1,941,470,000
Cost of Sales:
Cost of Sales	(1,780,696,000)	(1,851,933,000)
New vehicles
Revenues:
Revenues	959,489,000	1,066,334,000
Cost of Sales:
Cost of Sales	(914,074,000)	(1,012,538,000)
Used vehicles
Revenues:
Revenues	850,052,000	820,366,000
Cost of Sales:
Cost of Sales	(817,922,000)	(783,358,000)
Wholesale vehicles
Revenues:
Revenues	48,543,000	54,770,000
Cost of Sales:
Cost of Sales	(48,700,000)	(56,037,000)
Parts, service and collision repair
Revenues:
Revenues	334,680,000	341,430,000
Cost of Sales:
Cost of Sales	(176,782,000)	(178,194,000)
Finance, insurance and other, net
Revenues:
Revenues	$ 115,292,000	$ 106,238,000

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (199,333)	$ 42,221
Other comprehensive income (loss) before taxes:
Change in fair value of interest rate swap and interest rate cap agreements	361	(2,349)
Amortization of terminated interest rate swap agreements	(797)	(288)
Total other comprehensive income (loss) before taxes	(436)	(2,637)
Provision for income tax benefit (expense) related to components of other comprehensive income (loss)	164	776
Other comprehensive income (loss)	(272)	(1,861)
Comprehensive income (loss)	$ (199,605)	$ 40,360

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Current Assets:
Cash and cash equivalents	$ 181,780	$ 29,103
Receivables, net	200,876	432,742
Inventories	1,608,218	1,517,875
Other current assets	138,912	37,890
Total current assets	2,129,786	2,017,610
Property and Equipment, net	1,092,385	1,097,247
Goodwill	207,791	475,791
Other Intangible Assets, net	64,300	64,300
Right-of-use asset	344,148	337,842
Right-of-use asset	50,698	34,691
Other Assets	87,636	43,554
Total Assets	3,976,744	4,071,035
Current Liabilities:
Notes payable - floor plan - trade	827,292	860,871
Notes payable - floor plan - non-trade	719,446	678,223
Trade accounts payable	78,394	135,217
Operating Lease, Liability, Current	43,139	43,332
Finance Lease, Liability, Current	20,225	1,564
Accrued interest	6,534	10,830
Other accrued liabilities	237,211	266,211
Current maturities of long-term debt	80,803	69,908
Total current liabilities	2,013,044	2,066,156
Long-Term Debt	830,839	636,978
Other Long-Term Liabilities	66,287	73,746
Operating Lease, Liability, Noncurrent	311,371	304,151
Finance Lease, Liability, Noncurrent	33,216	36,313
Deferred Income Taxes	0	8,927
Commitments and Contingencies
Stockholders' Equity:
Class A convertible preferred stock, none issued	0	0
Paid-in capital	758,327	755,904
Retained Earnings (Accumulated Deficit)	586,511	790,158
Accumulated other comprehensive income (loss)	(2,334)	(2,062)
Treasury stock, at cost; 33,476,159 Class A common stock shares held at September 30, 2018 and 32,290,493 Class A common stock shares held at December 31, 2017	(621,290)	(600,004)
Total Stockholders' Equity	721,987	944,764
Total Liabilities and Stockholders' Equity	3,976,744	4,071,035
Class A Common Stock
Stockholders' Equity:
Common stock, value	652	647
Class B common stock
Stockholders' Equity:
Common stock, value	$ 121	$ 121

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2020	Dec. 31, 2019
Convertible preferred stock issued	0	0
Class A Common Stock
Common stock, par value (usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	65,199,247	64,733,667
Common stock, shares outstanding	30,834,793	31,105,000
Treasury stock, shares	34,364,454	33,628,667
Class B common stock
Common stock, par value (usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized	30,000,000	30,000,000
Common stock, shares issued	12,029,375	12,029,375
Common stock, shares outstanding	12,029,375	12,029,375

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Class A Common Stock	Class A Common StockCommon Stock	Class A Common StockTreasury Stock	Class A Common StockRetained Earnings	Class B Common Stock	Class B Common StockCommon Stock	Class B Common StockRetained Earnings
Beginning balance at Dec. 31, 2018	$ 823,116	$ 745,052	$ 670,691	$ 4,233		$ 642	$ (597,623)			$ 121
Beginning balance (shares) at Dec. 31, 2018						64,197	33,476			12,029
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares awarded under stock compensation plan	59	54				$ 5
Shares awarded under stock compensation plan (shares)						480
Purchase of treasury stock	(2,333)						$ (2,333)
Purchases of treasury stock (shares)							(149)
Change in fair value of interest rate swap and interest rate cap agreements, net of tax expense of $1,563	(1,861)			(1,861)
Restricted stock amortization	2,814	2,814
Net income (loss)	42,221		42,221
Dividends, Common Stock					$ 3,099			$ 3,099	$ 1,203		$ 1,203
Ending balance at Mar. 31, 2019	852,286	747,920	701,182	2,372		$ 647	$ (599,956)			$ 121
Ending balance (shares) at Mar. 31, 2019						64,677	33,625			12,029
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Retained Earnings (Accumulated Deficit) | ASU 2014-09	(7,428)
Retained Earnings (Accumulated Deficit)	790,158
Beginning balance at Dec. 31, 2019	944,764	755,904	790,158	(2,062)		$ 647	$ (600,004)			$ 121
Beginning balance (shares) at Dec. 31, 2019						64,734	33,629			12,029
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares awarded under stock compensation plan	1	(4)				$ 5
Shares awarded under stock compensation plan (shares)						465
Purchase of treasury stock	(21,286)						$ (21,286)
Purchases of treasury stock (shares)							(735)
Change in fair value of interest rate swap and interest rate cap agreements, net of tax expense of $1,563	(272)			(272)
Restricted stock amortization	2,427	2,427
Net income (loss)	(199,333)		(199,333)
Dividends, Common Stock					$ 3,111			$ 3,111	$ 1,203		$ 1,203
Ending balance at Mar. 31, 2020	721,987	$ 758,327	$ 586,511	$ (2,334)		$ 652	$ (621,290)			$ 121
Ending balance (shares) at Mar. 31, 2020						65,199	34,364			12,029
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Retained Earnings (Accumulated Deficit)	$ 586,511

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ (199,333)	$ 42,221
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization of property and equipment	21,540	22,198
Provision for bad debt expense	134	159
Debt issuance cost amortization	557	591
Stock-based compensation expense	2,427	2,814
Deferred income taxes	(53,999)	(2,816)
Net distributions from equity investee	448	379
Asset impairment charges	268,000	1,952
Loss (gain) on disposal of dealerships and property and equipment	(39)	(46,785)
Loss (gain) on exit of leased dealerships	0	(170)
Changes in assets and liabilities that relate to operations:
Receivables	231,732	66,814
Inventories	(90,342)	(40,210)
Other assets	(89,114)	(66,967)
Notes payable - floor plan - trade	(33,579)	(57,984)
Trade accounts payable and other liabilities	(105,630)	(16,525)
Total adjustments	152,135	(136,550)
Net cash provided by (used in) operating activities	(47,198)	(94,329)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of land, property and equipment	(19,805)	(30,619)
Proceeds from sales of property and equipment	194	1,125
Proceeds from sales of dealerships	0	121,700
Net cash provided by (used in) investing activities	(19,611)	92,206
CASH FLOWS FROM FINANCING ACTIVITIES:
Net (repayments) borrowings on notes payable - floor plan - non-trade	(41,223)	9,841
Borrowings on revolving credit facilities	460,916	126,185
Repayments on revolving credit facilities	(250,916)	(126,185)
Debt issuance costs	(24)	0
Principal payments and repurchase of long-term debt	(5,777)	(6,011)
Purchases of treasury stock	(21,286)	(2,333)
Finance Lease, Principal Payments	337	0
Issuance of shares under stock compensation plans	1	59
Dividends paid	(4,314)	(2,565)
Net cash provided by (used in) financing activities	219,486	(1,009)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	152,677	(3,132)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	29,103	5,854
CASH AND CASH EQUIVALENTS, END OF PERIOD	181,780	2,722
SUPPLEMENTAL SCHEDULE OF NON-CASH FINANCING ACTIVITIES:
Change in fair value of interest rate swap and interest rate cap agreements (net of tax expense of $1,563 and $1,099 in the nine months ended September 30, 2018 and 2017, respectively)	(272)	(1,861)
Cash paid (received) during the period for:
Interest, including amount capitalized	25,359	26,945
Income taxes	$ 3	$ 10,277

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Cash Flows [Abstract]
Tax effect on fair value of interest rate swap and rate cap agreements	$ (1,726)	$ 1,563

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation – The accompanying unaudited condensed consolidated financial statements of Sonic Automotive, Inc. and its wholly owned subsidiaries (“Sonic,” the “Company,” “we,” “us” or “our”) for the three months ended March 31, 2020 and 2019 are unaudited and have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and applicable rules and regulations of the Securities and Exchange Commission. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The accompanying unaudited condensed consolidated financial statements reflect, in the opinion of management, all material normal recurring adjustments necessary to fairly state the financial position, results of operations and cash flows for the periods presented. The operating results for interim periods are not necessarily indicative of the results to be expected for the entire fiscal year or future interim periods, because the first quarter historically has contributed less operating profit than the second, third and fourth quarters. Additionally, the continued magnitude and impact of COVID-19 pandemic could impact earnings in the second, third and fourth quarters of 2020. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes thereto included in Sonic’s Annual Report on Form 10-K for the year ended December 31, 2019. COVID 19 – The COVID-19 pandemic negatively impacted the global economy. As of March 31, 2020, the impact on the economy is primarily affecting demand as many countries around the world and states in the United States ("U.S.") have mandated restrictions on citizen movements (stay-at-home orders) or on retail trade at physical locations. As a result, many businesses have curtailed operations and furloughed or terminated many positions. In the U.S., the government passed several measures through the legislature that were signed by the President and enacted into law. Those measures include the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) and the Families First Coronavirus Response Act. Both Acts attempt to provide short-term relief to families and businesses as a result of the economic impacts of the COVID-19 pandemic. Specifically related to Sonic, all our stores have been impacted by the crisis. As of March 31, 2020, the majority of our stores are not permitted to conduct retail sales of new and used vehicles at our physical locations. Those locations can offer virtual sales transactions with “contactless” delivery to customers. Due to the critical nature of automotive repair, our fixed operations have been deemed “essential” by governmental agencies and were able to continue to conduct business, but must maintain certain local standards for “social distancing”. As a result, in the last several weeks of March of 2020, we experienced 30%-50% declines in unit sales of new and used vehicles (as compared to the prior year period) and 15%-30% reductions in repair order activity in fixed operations. These trends have continued into April of 2020 and are expected to continue until at least through mid-May of 2020. Based on these events, we evaluated our long-lived assets for impairment. This evaluation included reviews of fixed assets and related right-of-use assets, franchise assets and goodwill. As a result of this evaluation, we determined the carrying values of all long-lived assets to be recoverable at March 31, 2020 with the exception of goodwill related to our franchised dealership reporting unit. One of the primary factors which contributed to the conclusion that goodwill was impaired was the market value of Sonic's stock between the announcement date of the pandemic on March 11, 2020 to March 31, 2020. See Note 5 for further discussion. The effects of the COVID-19 pandemic continue to evolve. While we currently expect to begin to see recovery in the last half of 2020, the outbreak may cause changes in customer behaviors, including a potential reduction in consumer spending for vehicles and automotive repairs. This may lead to increased asset recovery and valuation risks, such as impairment of additional long-lived assets. The uncertainties in the global economy may negatively impact our suppliers and other business partners, which may interrupt our supply chain and require other changes to our operations. These and other factors may adversely impact our revenues, operating income and earnings per share financial measures. As a result of the pandemic and related stay-at-home orders, we have transitioned many of our teammates to remote work arrangements. In situations where the role does not permit remote work (ie. technicians), we have implemented staggered work hours and other social distancing measures to promote the health and safety of our teammates and guests. As a result of the systems and infrastructure we had in place prior to the pandemic, we have been able to effectively maintain our back-office operations, financial reporting and internal control processes with minimal disruption. Recent Accounting Pronouncements – In June 2016, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2016-13, “Financial Instruments - Credit Losses (Accounting Standards Codification (“ASC”) Topic 326): Measurement of Credit Losses on Financial Instruments.” The amendment in this update replaced the previous incurred loss impairment methodology of recognizing credit losses when a loss is probable, with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to assess credit loss estimates. This ASU is effective for fiscal years beginning after December 15, 2019. We adopted this ASU as of January 1, 2020 and the effects of this ASU did not materially impact our unaudited condensed consolidated financial statements. Principles of Consolidation – All of our dealership and non-dealership subsidiaries are wholly owned and consolidated in the accompanying unaudited condensed consolidated financial statements, except for one 50%-owned dealership that is accounted for under the equity method. All material intercompany balances and transactions have been eliminated in the accompanying unaudited condensed consolidated financial statements. Revenue Recognition – Revenue is recognized when a customer obtains control of promised goods or services and in an amount that reflects the consideration that the entity expects to receive in exchange for those goods or services. ASC Topic 606, “Revenue from Contracts with Customers,” applies a five-step model that includes: (1) identifying the contract(s) with the customer; (2) identifying the performance obligation(s) in the contract(s); (3) determining the transaction price; (4) allocating the transaction price to the performance obligation(s) in the contract(s); and (5) recognizing revenue as the performance obligation(s) are satisfied. The standard also requires disclosure of the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. We do not include the cost of obtaining contracts within the related revenue streams since we elected the practical expedient to expense the costs to obtain a contract when incurred. Management has evaluated our established business processes, revenue transaction streams and accounting policies, and identified our material revenue streams to be: (1) the sale of new vehicles; (2) the sale of used vehicles to retail customers; (3) the sale of wholesale used vehicles at third-party auctions; (4) the arrangement of vehicle financing and the sale of service, warranty and other insurance contracts; and (5) the performance of vehicle maintenance and repair services and the sale of related parts and accessories. Generally, performance conditions are satisfied when the associated vehicle is either delivered or returned to a customer and customer acceptance has occurred, or over time as the maintenance and repair services are performed. We do not have any revenue streams with significant financing components as payments are typically received within a short period of time following completion of the performance obligation(s). Certain retrospective finance and insurance revenue is earned in periods subsequent to the completion of the initial performance obligation (“F&I retro revenues”). F&I retro revenues are recognized when the product contract has been executed with the end customer and are estimated each reporting period based on the expected value method using historical and projected data, which results in the acceleration of revenue recognition. F&I retro revenues, which represent variable consideration, subject to constraint, are to be included in the transaction price and recognized when or as the performance obligation is satisfied. F&I retro revenues can vary based on a variety of factors, including number of contracts and history of cancellations and claims. Accordingly, we utilize this historical and projected data to constrain the consideration to the extent that it is probable that a significant reversal in the amount of cumulative revenue will not occur when the uncertainty associated with the variable consideration is subsequently resolved. We record revenue when vehicles are delivered to customers, when vehicle service work is performed and when parts are delivered. Conditions for completing a sale include having an agreement with the customer, including pricing, and the sales price must be reasonably expected to be collected. Receivables, net in the accompanying unaudited condensed consolidated balance sheets as of March 31, 2020 and December 31, 2019 include approximately $3.6 million and $5.1 million, respectively, related to work in process and contract assets related to F&I retro revenues of approximately $5.2 million and $12.9 million, respectively. Changes in contract assets from December 31, 2019 to March 31, 2020 were primarily due to ordinary business activity, including the receipt of cash for amounts earned and recognized in prior periods. Please refer to Note 1, “Description of Business and Summary of Significant Accounting Policies,” to the consolidated financial statements in Sonic’s Annual Report on Form 10-K for the year ended December 31, 2019 for further discussion of our revenue recognition policies and processes. Income Tax Expense – The overall effective tax rate from continuing operations was 18.2% for the three months ended March 31, 2020, and 31.0% for the three months ended March 31, 2019. Income tax expense for the three months ended March 31, 2020 includes a $51.3 million benefit, including the effect of non-deductible amounts, related to the $268.0 million goodwill impairment charge, a $0.5 million discrete benefit related to vested or exercised stock compensation awards, offset partially by a $0.1 million discrete charge related to changes in uncertain tax positions. Income tax expense for the three months ended March 31, 2019 includes a $1.5 million discrete charge for non-deductible executive officer compensation related to executive transition costs, a $0.2 million discrete charge related to changes in uncertain tax positions, and a $0.2 million discrete charge related to vested or exercised stock compensation awards. Sonic’s effective tax rate varies from year to year based on the level of taxable income, the distribution of taxable income between states in which the Company operates and other tax adjustments. Earnings Per Share – The calculation of diluted earnings per share considers the potential dilutive effect of restricted stock units, restricted stock awards and stock options granted under Sonic’s stock compensation plans (and any non-forfeitable dividends paid on such awards).

Business Acquisitions and Dispo

Business Acquisitions and Dispositions	3 Months Ended
	Mar. 31, 2020
Business Combinations [Abstract]
Business Acquisitions and Dispositions	Business Dispositions We did not dispose of any dealerships during the three months ended March 31, 2020. We disposed of one luxury franchised dealership and three mid-line import franchised dealerships during the three months ended March 31, 2019 that generated net cash of approximately $121.7 million. The results of operations of each of these disposed dealerships remain in continuing operations in the accompanying unaudited condensed consolidated statements of income. Revenues and other activities associated with disposed franchised dealerships that remain in continuing operations were as follows: Three Months Ended March 31, 2020 2019 (In thousands) Income (loss) from operations $ (160) $ (2,553) Gain (loss) on disposal 2 46,750 Lease exit accrual adjustments and charges — 170 Pre-tax income (loss) $ (158) $ 44,367 Total revenues $ — $ 106,774 Revenues and other activities associated with disposed franchised dealerships classified as discontinued operations were as follows: Three Months Ended March 31, 2020 2019 (In thousands) Income (loss) from operations $ (285) $ (180) Lease exit accrual adjustments and charges — — Pre-tax income (loss) $ (285) $ (180) Total revenues $ — $ —

Inventories

Inventories	3 Months Ended
	Mar. 31, 2020
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consist of the following: March 31, 2020 December 31, 2019 (In thousands) New vehicles $ 1,072,318 $ 983,123 Used vehicles 324,526 319,791 Service loaners 152,254 152,278 Parts, accessories and other 59,120 62,683 Net inventories $ 1,608,218 $ 1,517,875

Property and Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Property and equipment, net consists of the following: March 31, 2020 December 31, 2019 (In thousands) Land $ 373,963 $ 373,301 Building and improvements 976,904 969,609 Furniture, fixtures and equipment 352,574 346,260 Construction in progress 53,214 50,928 Total, at cost 1,756,655 1,740,098 Less accumulated depreciation (638,030) (616,611) Subtotal 1,118,625 1,123,487 Less assets held for sale (1) (26,240) (26,240) Property and equipment, net $ 1,092,385 $ 1,097,247 (1) Classified in other current assets in the accompanying unaudited condensed consolidated balance sheets. In the three months ended March 31, 2020 and 2019, capital expenditures were approximately $19.8 million and $30.6 million, respectively. Capital expenditures in all periods were primarily related to real estate acquisitions, construction of new franchised dealerships and EchoPark stores, building improvements and equipment purchased for use in our franchised dealerships and EchoPark stores. Assets held for sale as of March 31, 2020 and December 31, 2019 consists of real property not currently used in operations that we expect to dispose of in the next 12 months. There were no fixed asset impairment charges for the three months ended March 31, 2020. Impairment charges for the three months ended March 31, 2019, were approximately $2.0 million, related to fair value adjustments of real estate at former EchoPark locations classified as held for sale.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible AssetsPursuant to the applicable accounting pronouncements, we were required to evaluate the recoverability of our long-lived assets at the end of the first quarter of 2020 as a result of the effects of the COVID-19 pandemic on our operations and market value. Based on this evaluation, we determined the carrying value of our franchised dealership reporting unit goodwill was greater than the fair value of the reporting unit. Accordingly, we recorded a non-cash goodwill impairment charge of $268.0 million and a corresponding income tax benefit of $51.3 million to reduce the carrying value to fair value as of March 31, 2020. We utilized the Discounted Cash Flows ("DCF") method, using unobservable inputs (Level 3) to estimate Sonic's enterprise value as of March 31, 2020 and reconciled the discounted cash flows to Sonic's market capitalization, using quoted market price inputs (Level 1). The significant assumptions in our DCF model include projected earnings, a discount rate (and estimates in the discount rate inputs), control premium factors and residual growth rates.The carrying amount of goodwill was approximately $207.8 million and $475.8 million as of March 31, 2020 and December 31, 2019, respectively. The carrying amount of goodwill for our franchised dealership reporting unit was $147.8 million and $415.8 million as of March 31, 2020 and December 31, 2019, respectively. The carrying amount of goodwill for our EchoPark reporting unit was $60.0 million as of March 31, 2020 and December 31, 2019. The total carrying amount of goodwill is net of accumulated impairment losses of approximately $1.1 billion and $797.6 million as of March 31, 2020 and December 31, 2019, respectively. The carrying amount of franchise assets was approximately $64.3 million as of both March 31, 2020 and December 31, 2019, respectively.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal and Other Proceedings Sonic is involved, and expects to continue to be involved, in various legal and administrative proceedings arising out of the conduct of its business, including regulatory investigations and private civil actions brought by plaintiffs purporting to represent a potential class or for which a class has been certified. Although Sonic vigorously defends itself in all legal and administrative proceedings, the outcomes of pending and future proceedings arising out of the conduct of Sonic’s business, including litigation with customers, employment-related lawsuits, contractual disputes, class actions, purported class actions and actions brought by governmental authorities, cannot be predicted with certainty. An unfavorable resolution of one or more of these matters could have a material adverse effect on Sonic’s business, financial condition, results of operations, cash flows or prospects. Included in other accrued liabilities and other long-term liabilities in the accompanying unaudited condensed consolidated balance sheet as of March 31, 2020 was approximately $0.4 million and $0.2 million, respectively, in reserves that Sonic was holding for pending proceedings. Included in other accrued liabilities and other long-term liabilities in the accompanying unaudited condensed consolidated balance sheet as of December 31, 2019 was approximately $1.2 million and $0.3 million, respectively, for such reserves. Except as reflected in such reserves, Sonic is currently unable to estimate a range of reasonably possible loss, or a range of reasonably possible loss in excess of the amount accrued, for pending proceedings. Guarantees and Indemnification Obligations In accordance with the terms of Sonic’s operating lease agreements, Sonic’s dealership subsidiaries, acting as lessees, generally agree to indemnify the lessor from certain exposure arising as a result of the use of the leased premises, including environmental exposure and repairs to leased property upon termination of the lease. In addition, Sonic has generally agreed to indemnify the lessor in the event of a breach of the lease by the lessee. In connection with dealership dispositions and facility relocations, certain of Sonic’s subsidiaries have assigned or sublet to the buyer their interests in real property leases associated with such dealerships or facilities. In general, the subsidiaries retain responsibility for the performance of certain obligations under such leases, including rent payments and repairs to leased property upon termination of the lease, to the extent that the assignee or sublessee does not perform. In the event an assignee or a sublessee does not perform its obligations, Sonic remains liable for such obligations. In accordance with the terms of agreements entered into for the sale of Sonic’s dealerships, Sonic generally agrees to indemnify the buyer from certain liabilities and costs arising subsequent to the date of sale, including environmental exposure and exposure resulting from the breach of representations or warranties made in accordance with the agreements. While Sonic’s exposure with respect to environmental remediation and repairs is difficult to quantify, Sonic’s maximum exposure associated with these general indemnifications was approximately $43.3 million and $46.5 million at March 31, 2020 and December 31, 2019, respectively. These indemnifications typically expire within a period of one Sonic also guarantees the floor plan commitments of its 50%-owned joint venture, the amount of which was approximately $4.3 million at both March 31, 2020 and December 31, 2019.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements In determining fair value, Sonic uses various valuation approaches, including market, income and/or cost approaches. “Fair Value Measurements and Disclosures” in the ASC establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of Sonic. Unobservable inputs are inputs that reflect Sonic’s assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The hierarchy is broken down into three levels based on the reliability of inputs as follows: Level 1 – Valuations based on quoted prices in active markets for identical assets or liabilities that Sonic has the ability to access. Assets utilizing Level 1 inputs include marketable securities that are actively traded, including Sonic’s stock or public bonds. Level 2 – Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. Assets and liabilities utilizing Level 2 inputs include cash flow swap instruments and deferred compensation plan balances. Level 3 – Valuations based on inputs that are unobservable and significant to the overall fair value measurement. Asset and liability measurements utilizing Level 3 inputs include those used in estimating fair value of non-financial assets and non-financial liabilities in purchase acquisitions, those used in assessing impairment of right-of-use assets ("ROU assets"), property, plant and equipment and other intangibles and those used in the reporting unit valuation in the goodwill impairment evaluation. The availability of observable inputs can vary and is affected by a wide variety of factors. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment required by Sonic in determining fair value is greatest for assets and liabilities categorized in Level 3. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement is disclosed is determined based on the lowest level input (Level 3 being the lowest level) that is significant to the fair value measurement. Fair value is a market-based measure considered from the perspective of a market participant who holds the asset or owes the liability rather than an entity-specific measure. Therefore, even when market assumptions are not readily available, Sonic’s own assumptions are set to reflect those that market participants would use in pricing the asset or liability at the measurement date. Sonic uses inputs that are current as of the measurement date, including during periods when the market may be abnormally high or abnormally low. Accordingly, fair value measurements can be volatile based on various factors that may or may not be within Sonic’s control. Assets and liabilities recorded at fair value in the accompanying unaudited condensed consolidated balance sheets as of March 31, 2020 and December 31, 2019 are as follows: Fair Value Based on Significant Other Observable Inputs (Level 2) March 31, 2020 December 31, 2019 (In thousands) Assets: Cash surrender value of life insurance policies (1) $ 32,209 $ 32,799 Interest rate caps designated as hedges (2) 88 97 Total assets $ 32,297 $ 32,896 Liabilities: Deferred compensation plan (3) $ 17,934 $ 17,890 Total liabilities $ 17,934 $ 17,890 (1) Included in other assets in the accompanying unaudited condensed consolidated balance sheets. (2) As of both March 31, 2020 and December 31, 2019, approximately $0.1 million was included in other assets in the accompanying unaudited condensed consolidated balance sheet. (3) Included in other long-term liabilities in the accompanying unaudited condensed consolidated balance sheets. There were $268.0 million of impairment charges related to long-lived intangible assets assessed during the three months ended March 31, 2020 which required a fair value measurement of assets ordinarily measured at fair value on a non-recurring basis. Goodwill has been adjusted for fair value through impairment charges using Level 1 and Level 3 fair value inputs as discussed in Note 5, "Goodwill and Intangible Assets." Remaining intangible and long-lived assets will be evaluated as of the annual valuation assessment date of October 1, 2020 or as events or changes in circumstances require. As of March 31, 2020 and December 31, 2019, the fair values of Sonic’s financial instruments, including receivables, notes receivable from finance contracts, notes payable – floor plan, trade accounts payable, borrowings under the revolving credit facilities and certain mortgage notes, approximated their carrying values due either to length of maturity or existence of variable interest rates that approximate prevailing market rates. At March 31, 2020 and December 31, 2019, the fair value and carrying value of Sonic’s significant fixed rate long-term debt were as follows: March 31, 2020 December 31, 2019 Fair Value Carrying Value Fair Value Carrying Value (In thousands) 6.125% Notes (1) $ 207,500 $ 250,000 $ 261,250 $ 250,000 Mortgage Notes (2) $ 194,265 $ 191,248 $ 195,962 $ 194,535 (1) As determined by market quotations as of March 31, 2020 and December 31, 2019, respectively (Level 1). (2) As determined by discounted cash flows (Level 3) based on estimated current market interest rates for comparable instruments.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) The changes in accumulated other comprehensive income (loss) by component for the three months ended March 31, 2020 are as follows: Gains and Defined Total (In thousands) Balance at December 31, 2019 $ (1,326) $ (736) $ (2,062) Other comprehensive income (loss) before reclassifications (1) 294 — 294 Amounts reclassified out of accumulated other comprehensive income (loss) (2) (566) — (566) Net current-period other comprehensive income (loss) (272) — (272) Balance at March 31, 2020 $ (1,598) $ (736) $ (2,334) (1) Net of tax expense of $67 related to cash flow hedges. (2) Net of tax benefit of $231 related to cash flow hedges. See the heading “Derivative Instruments and Hedging Activities” in Note 6, “Long-Term Debt,” for further discussion of Sonic’s cash flow hedges. For further discussion of Sonic’s defined benefit pension plan, see Note 10, “Employee Benefit Plans,” to the consolidated financial statements in Sonic’s Annual Report on Form 10-K for the year ended December 31, 2019.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Segment Information	10. Segment Information As of March 31, 2020, Sonic had two operating segments comprised of: (1) retail automotive franchises that sell new vehicles and buy and sell used vehicles, sell replacement parts, perform vehicle repair and maintenance services, and arrange finance and insurance products (the “Franchised Dealerships Segment”); and (2) pre-owned vehicle specialty retail locations that provide customers 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 months ended March 31, 2020 and 2019 are as follows: Three Months Ended March 31, 2020 2019 Segment Revenues: (In thousands, except unit data) Franchised Dealerships Segment revenues: New vehicles $ 959,489 $ 1,066,334 Used vehicles 566,888 603,949 Wholesale vehicles 42,440 52,533 Parts, service and collision repair 324,501 336,225 Finance, insurance and other, net 83,029 80,521 Franchised Dealerships Segment revenues $ 1,976,347 $ 2,139,562 EchoPark Segment revenues: Used vehicles $ 283,164 $ 216,417 Wholesale vehicles 6,103 2,237 Parts, service and collision repair 10,179 5,205 Finance, insurance and other, net 32,263 25,717 EchoPark Segment revenues $ 331,709 $ 249,576 Total consolidated revenues $ 2,308,056 $ 2,389,138 Three Months Ended March 31, 2020 2019 Segment Income (Loss) (1): (In thousands) Franchised Dealerships Segment (2) $ 22,656 $ 61,182 EchoPark Segment 2,096 2,106 Total segment income (loss) $ 24,752 $ 63,288 Impairment charges (3) (268,000) (1,952) Income (loss) from continuing operations before taxes $ (243,248) $ 61,336 Retail New and Used Vehicle Unit Sales Volume: Franchised Dealerships Segment 47,762 52,609 EchoPark Segment 13,986 11,051 Total retail new and used vehicle unit sales volume 61,748 63,660 (1) Segment income (loss) for each segment is defined as income (loss) from continuing operations before taxes and impairment charges. (2) For the three months ended March 31, 2019 , the above amount includes a pre-tax net gain on the disposal of franchised dealerships of approximately $46.7 million, offset partially by approximately $6.3 million of pre-tax executive transition costs. (3) For the three months ended March 31, 2020, the above amount includes a pre-tax impairment charge of approximately $268.0 million related to adjustments in fair value of goodwill for the Franchised Dealerships Segment as a result of the economic disruptions due to the worldwide spread of COVID-19 which has adversely affected our business. For the three months ended March 31, 2019, the above amount includes approximately $1.9 million of pre-tax fair value adjustments to real estate at former EchoPark locations classified as held for sale. Three Months Ended March 31, 2020 2019 (In thousands) Impairment Charges: Franchised Dealerships Segment $ 268,000 $ 26 EchoPark Segment — 1,926 Total impairment charges $ 268,000 $ 1,952 Three Months Ended March 31, 2020 2019 (In thousands) Depreciation and amortization: Franchised Dealerships Segment $ 19,589 $ 20,237 EchoPark Segment 2,708 2,412 Total depreciation and amortization $ 22,297 $ 22,649 Three Months Ended March 31, 2020 2019 (In thousands) Floor Plan Interest Expense: Franchised Dealerships Segment $ 9,608 $ 12,505 EchoPark Segment 900 721 Total floor plan interest expense $ 10,508 $ 13,226 Three Months Ended March 31, 2020 2019 (In thousands) Interest Expense, Other, Net: Franchised Dealerships Segment $ 10,599 $ 12,414 EchoPark Segment 366 439 Total interest expense, other, net $ 10,965 $ 12,853 Three Months Ended March 31, 2020 2019 (In thousands) Capital expenditures: Franchised Dealerships Segment $ 17,249 $ 25,229 EchoPark Segment 2,556 5,390 Total capital expenditures $ 19,805 $ 30,619

Leases, Codification Topic 842

Leases, Codification Topic 842	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Leases of Lessee Disclosure [Text Block]	11. Lease Accounting The majority of our leases are related to dealership properties that are subject to long-term lease arrangements. In addition, we have certain equipment leases and contracts containing embedded leased assets that have been evaluated and included in the recorded ROU asset and lease liabilities as appropriate. As a result of the adoption of ASC 842, “Leases,” on January 1, 2019, we are required to recognize a ROU asset and a lease liability in the accompanying unaudited condensed consolidated balance sheets at the lease commencement date. For operating leases, the lease liability is initially and subsequently measured at the present value of the unpaid lease payments at the lease commencement date. For finance leases, the lease liability is initially measured in the same manner and date as for operating leases, and is subsequently measured at reduced cost using the effective interest method. The ROU asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for lease payments made at or before the lease commencement date, plus any initial direct costs incurred or previously recognized favorable lease assets, less any lease incentives received or previously recognized lease exit accruals. For operating leases, the ROU asset is subsequently measured throughout the lease term at the carrying amount of the lease liability, plus initial direct costs, plus (minus) any prepaid (accrued) lease payments, less the unamortized balance of lease incentives received. Lease expense for lease payments is recognized on a straight-line basis over the lease term. For finance leases, the ROU asset is reduced using the straight-line method from the lease commencement date to the earlier of the end of its useful life or the end of the lease term unless the lease transfers ownership of the underlying asset to us or we are reasonably certain to exercise an option to purchase the underlying asset. In those cases, the ROU asset is reduced over the expected useful life of the underlying asset. Expense related to the reduction of the ROU asset is recognized and presented separately from interest expense on the lease liability. Variable lease payments associated with our leases are recognized when the event, activity or circumstance in the lease agreement on which those payments are assessed occurs. Variable lease payments are presented as operating expense in our unaudited condensed consolidated statements of income in the same line item as expense arising from fixed lease payments (operating leases) or expense related to the reduction of the ROU asset (finance leases). ROU assets for operating and finance leases are periodically reduced by impairment losses. We use the long-lived assets impairment guidance in ASC 360, “Property, Plant, and Equipment,” to determine whether the ROU asset is impaired and, if so, the amount of the impairment loss to recognize. We regularly monitor events or changes in circumstances that may require a reassessment of one of our leases. When a reassessment results in the remeasurement of a lease liability, a corresponding adjustment is made to the carrying amount of the corresponding ROU asset unless doing so would reduce the carrying amount of the ROU asset to an amount less than zero. In that case, the amount of the adjustment that would result in a negative ROU asset balance is recorded in profit or loss. Key estimates and judgments related to the measurement and recording of ROU assets and lease liabilities include how we determine: (1) the discount rate used to discount the unpaid lease payments to present value; and (2) the expected lease term, including any extension options. ASC 842, “Leases,” requires a lessee to discount its unpaid lease payments using the interest rate implicit in the lease or, if that rate cannot be readily determined, its incremental borrowing rate. Generally, we cannot determine the interest rate implicit in the lease because we do not have access to the lessor’s estimated residual value or the amount of the lessor’s deferred initial direct costs. Therefore, we generally use our incremental borrowing rate as the discount rate for the lease. We determined the discount rate for our leases based on the risk-free rate as of the measurement date for varying maturities corresponding to the remaining lease term, adjusted for the risk-premium attributed to Sonic’s corporate credit rating for a secured or collateralized instrument. Many of our lease arrangements have one or more existing renewal options to extend the lease term (typically in five- to ten-year increments), which were considered in the calculation of the ROU assets and lease liabilities if we determined that it was reasonably certain that an extension option would be exercised. The lease term for all of the Company’s leases includes the noncancellable period of the lease plus any additional periods covered by our option to extend the lease that we are reasonably certain to exercise. We determined the probability of the exercise of a lease extension option based on our long-term strategic business outlook and the condition and remaining useful life of the fixed assets at the location subject to the lease agreement, among other factors. The majority of our lease agreements require fixed monthly payments (subject to either specific or index-based escalations in future periods) while other agreements require variable lease payments based on changes in LIBOR or any replacement thereof. Lease payments included in the measurement of the lease liability comprise the: (1) fixed lease payments, including in-substance fixed payments, owed over the lease term, which include termination penalties we would owe if the estimated lease term assumes that we would be likely to exercise a termination option prior to the earliest expiration date; (2) variable lease payments that depend on an index or rate, initially measured using the index or rate at the lease commencement date; and (3) the exercise price of our option to purchase the underlying asset if we are reasonably certain to exercise the option. Our leases do not typically contain residual value guarantees. In certain situations, we have entered into sublease agreements whereby we sublease all or a portion of a leased real estate asset to a third party. To the extent that we have a sublease related to a lease agreement for an asset that we are no longer using in operations, we have reduced the ROU asset by any applicable net deficiency in expected cash flows from that sublease (either due to partial monthly sublease proceeds or a sublease term less than the remaining master lease term). Following is information related to changes in our ROU asset and lease liability balances and other financial information for the three months ended March 31, 2020: As Reported December 31, 2019 New Modifications (1) Reduction / Amortization As Reported March 31, 2020 (In thousands) ROU Assets: Finance Leases $ 34,691 $ — $ 16,763 $ (756) $ 50,698 Operating Leases 337,842 — 17,191 (10,885) 344,148 Total ROU Assets $ 372,533 $ — $ 33,954 $ (11,641) $ 394,846 Current Lease Liabilities: Finance Leases $ 1,564 $ — $ 18,588 $ 73 $ 20,225 Operating Leases 43,332 — 402 (595) 43,139 Total Current Lease Liabilities $ 44,896 $ — $ 18,990 $ (522) $ 63,364 Long-Term Lease Liabilities: Finance Leases $ 36,313 $ — $ (2,687) $ (410) $ 33,216 Operating Leases 304,151 — 17,651 (10,431) 311,371 Total Long-Term Lease Liabilities $ 340,464 $ — $ 14,964 $ (10,841) $ 344,587 (1) Includes the impact of remeasurements related to lease terminations and changes in assumptions around the probability of exercise of extension options. Three Months Ended March 31, 2020 2019 (In thousands) Lease Expense: Finance lease expense: Reduction of ROU assets $ 756 $ 709 Interest on lease liabilities 1,344 1,176 Operating lease expense (1) 16,610 17,997 Short-term lease expense (1) 420 427 Variable lease expense 718 114 Sublease income (3,099) (3,578) Total $ 16,749 $ 16,845 (1) Included in operating cash flows in the accompanying unaudited condensed consolidated statement of cash flows as of March 31, 2020. Three Months Ended March 31, 2020 2019 (In thousands) Other Information: Cash paid for amounts included in the measurement of lease liabilities Financing cash flows for finance leases $ 337 $ 281 Operating cash flows for finance leases $ 1,344 $ 1,176 Operating cash flows for operating leases $ 16,753 $ 18,469 ROU assets obtained in exchange for lease liabilities Finance leases $ 6,728 $ 9,983 Operating leases (1) $ 27,226 $ (10,711) (1) Includes the impact of reclassification of ROU assets from operating leases to finance leases due to remeasurement. March 31, 2020 March 31, 2019 Other Information: Weighted-average remaining lease term (in years) Finance leases 7.8 11.4 Operating leases 9.6 9.8 Weighted-average discount rate Finance leases 16.52 % 18.31 % Operating leases 6.56 % 6.86 % Undiscounted Lease Cash Flows Under ASC 842 as of March 31, 2020 Finance Operating Receipts from Subleases Year Ending December 31, (In thousands) Remainder of 2020 $ 23,572 $ 48,808 $ (8,343) 2021 6,075 60,674 (8,228) 2022 6,083 54,358 (6,103) 2023 6,144 52,687 (6,103) 2024 6,263 47,219 (5,042) Thereafter 43,103 223,118 (4,270) Total $ 91,240 $ 486,864 $ (38,089) Less: Present value discount (37,799) (132,354) Lease liabilities $ 53,441 $ 354,510

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	1 Months Ended	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation		Basis of Presentation – The accompanying unaudited condensed consolidated financial statements of Sonic Automotive, Inc. and its wholly owned subsidiaries (“Sonic,” the “Company,” “we,” “us” or “our”) for the three months ended March 31, 2020 and 2019 are unaudited and have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and applicable rules and regulations of the Securities and Exchange Commission. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The accompanying unaudited condensed consolidated financial statements reflect, in the opinion of management, all material normal recurring adjustments necessary to fairly state the financial position, results of operations and cash flows for the periods presented. The operating results for interim periods are not necessarily indicative of the results to be expected for the entire fiscal year or future interim periods, because the first quarter historically has contributed less operating profit than the second, third and fourth quarters. Additionally, the continued magnitude and impact of COVID-19 pandemic could impact earnings in the second, third and fourth quarters of 2020. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes thereto included in Sonic’s Annual Report on Form 10-K for the year ended December 31, 2019.
Recent Accounting Pronouncements		COVID 19 – The COVID-19 pandemic negatively impacted the global economy. As of March 31, 2020, the impact on the economy is primarily affecting demand as many countries around the world and states in the United States ("U.S.") have mandated restrictions on citizen movements (stay-at-home orders) or on retail trade at physical locations. As a result, many businesses have curtailed operations and furloughed or terminated many positions. In the U.S., the government passed several measures through the legislature that were signed by the President and enacted into law. Those measures include the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) and the Families First Coronavirus Response Act. Both Acts attempt to provide short-term relief to families and businesses as a result of the economic impacts of the COVID-19 pandemic. Specifically related to Sonic, all our stores have been impacted by the crisis. As of March 31, 2020, the majority of our stores are not permitted to conduct retail sales of new and used vehicles at our physical locations. Those locations can offer virtual sales transactions with “contactless” delivery to customers. Due to the critical nature of automotive repair, our fixed operations have been deemed “essential” by governmental agencies and were able to continue to conduct business, but must maintain certain local standards for “social distancing”. As a result, in the last several weeks of March of 2020, we experienced 30%-50% declines in unit sales of new and used vehicles (as compared to the prior year period) and 15%-30% reductions in repair order activity in fixed operations. These trends have continued into April of 2020 and are expected to continue until at least through mid-May of 2020. Based on these events, we evaluated our long-lived assets for impairment. This evaluation included reviews of fixed assets and related right-of-use assets, franchise assets and goodwill. As a result of this evaluation, we determined the carrying values of all long-lived assets to be recoverable at March 31, 2020 with the exception of goodwill related to our franchised dealership reporting unit. One of the primary factors which contributed to the conclusion that goodwill was impaired was the market value of Sonic's stock between the announcement date of the pandemic on March 11, 2020 to March 31, 2020. See Note 5 for further discussion. The effects of the COVID-19 pandemic continue to evolve. While we currently expect to begin to see recovery in the last half of 2020, the outbreak may cause changes in customer behaviors, including a potential reduction in consumer spending for vehicles and automotive repairs. This may lead to increased asset recovery and valuation risks, such as impairment of additional long-lived assets. The uncertainties in the global economy may negatively impact our suppliers and other business partners, which may interrupt our supply chain and require other changes to our operations. These and other factors may adversely impact our revenues, operating income and earnings per share financial measures. As a result of the pandemic and related stay-at-home orders, we have transitioned many of our teammates to remote work arrangements. In situations where the role does not permit remote work (ie. technicians), we have implemented staggered work hours and other social distancing measures to promote the health and safety of our teammates and guests. As a result of the systems and infrastructure we had in place prior to the pandemic, we have been able to effectively maintain our back-office operations, financial reporting and internal control processes with minimal disruption. Recent Accounting Pronouncements – In June 2016, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2016-13, “Financial Instruments - Credit Losses (Accounting Standards Codification (“ASC”) Topic 326): Measurement of Credit Losses on Financial Instruments.” The amendment in this update replaced the previous incurred loss impairment methodology of recognizing credit losses when a loss is probable, with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to assess credit
Principles of Consolidation		Principles of Consolidation – All of our dealership and non-dealership subsidiaries are wholly owned and consolidated in the accompanying unaudited condensed consolidated financial statements, except for one 50%-owned dealership that is accounted for under the equity method. All material intercompany balances and transactions have been eliminated in the accompanying unaudited condensed consolidated financial statements.
Revenue from Contract with Customers		Revenue Recognition – Revenue is recognized when a customer obtains control of promised goods or services and in an amount that reflects the consideration that the entity expects to receive in exchange for those goods or services. ASC Topic 606, “Revenue from Contracts with Customers,” applies a five-step model that includes: (1) identifying the contract(s) with the customer; (2) identifying the performance obligation(s) in the contract(s); (3) determining the transaction price; (4) allocating the transaction price to the performance obligation(s) in the contract(s); and (5) recognizing revenue as the performance obligation(s) are satisfied. The standard also requires disclosure of the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. We do not include the cost of obtaining contracts within the related revenue streams since we elected the practical expedient to expense the costs to obtain a contract when incurred. Management has evaluated our established business processes, revenue transaction streams and accounting policies, and identified our material revenue streams to be: (1) the sale of new vehicles; (2) the sale of used vehicles to retail customers; (3) the sale of wholesale used vehicles at third-party auctions; (4) the arrangement of vehicle financing and the sale of service, warranty and other insurance contracts; and (5) the performance of vehicle maintenance and repair services and the sale of related parts and accessories. Generally, performance conditions are satisfied when the associated vehicle is either delivered or returned to a customer and customer acceptance has occurred, or over time as the maintenance and repair services are performed. We do not have any revenue streams with significant financing components as payments are typically received within a short period of time following completion of the performance obligation(s). Certain retrospective finance and insurance revenue is earned in periods subsequent to the completion of the initial performance obligation (“F&I retro revenues”). F&I retro revenues are recognized when the product contract has been executed with the end customer and are estimated each reporting period based on the expected value method using historical and projected data, which results in the acceleration of revenue recognition. F&I retro revenues, which represent variable consideration, subject to constraint, are to be included in the transaction price and recognized when or as the performance obligation is satisfied. F&I retro revenues can vary based on a variety of factors, including number of contracts and history of cancellations and claims. Accordingly, we utilize this historical and projected data to constrain the consideration to the extent that it is probable that a significant reversal in the amount of cumulative revenue will not occur when the uncertainty associated with the variable consideration is subsequently resolved. We record revenue when vehicles are delivered to customers, when vehicle service work is performed and when parts are delivered. Conditions for completing a sale include having an agreement with the customer, including pricing, and the sales price must be reasonably expected to be collected. Receivables, net in the accompanying unaudited condensed consolidated balance sheets as of March 31, 2020 and December 31, 2019 include approximately $3.6 million and $5.1 million, respectively, related to work in process and contract assets related to F&I retro revenues of approximately $5.2 million and $12.9 million, respectively. Changes in contract assets from December 31, 2019 to March 31, 2020 were primarily due to ordinary business activity, including the receipt of cash for amounts earned and recognized in prior periods. Please refer to Note 1, “Description of Business and Summary of Significant Accounting Policies,” to the consolidated financial statements in Sonic’s Annual Report on Form 10-K for the year ended December 31, 2019 for further discussion of our revenue recognition policies and processes.
Income Tax Expense		Income Tax Expense – The overall effective tax rate from continuing operations was 18.2% for the three months ended March 31, 2020, and 31.0% for the three months ended March 31, 2019. Income tax expense for the three months ended March 31, 2020 includes a $51.3 million benefit, including the effect of non-deductible amounts, related to the $268.0 million goodwill impairment charge, a $0.5 million discrete benefit related to vested or exercised stock compensation awards, offset partially by a $0.1 million discrete charge related to changes in uncertain tax positions. Income tax expense for the three months ended March 31, 2019 includes a $1.5 million discrete charge for non-deductible executive officer compensation related to executive transition costs, a $0.2 million discrete charge related to changes in uncertain tax positions, and a $0.2 million discrete charge related to vested or exercised stock compensation awards. Sonic’s effective tax rate varies from year to year based on the level of taxable income, the distribution of taxable income between states in which the Company operates and other tax adjustments. Earnings Per Share – The calculation of diluted earnings per share considers the potential dilutive effect of restricted stock units, restricted stock awards and stock options granted under Sonic’s stock compensation plans (and any non-forfeitable dividends paid on such awards).
Unit Sale Decline Min	30.00%
Unit Sale Decline Max	50.00%
Fixed Ops Decline Min	15.00%
Fixed Ops Decline Max	30.00%

Business Acquisitions and Dis_2

Business Acquisitions and Dispositions (Tables)	3 Months Ended
	Mar. 31, 2020
Business Combinations [Abstract]
Revenues and Other Activities Associated with Disposed Dealerships Classified as Discontinued Operations	Revenues and other activities associated with disposed franchised dealerships classified as discontinued operations were as follows: Three Months Ended March 31, 2020 2019 (In thousands) Income (loss) from operations $ (285) $ (180) Lease exit accrual adjustments and charges — — Pre-tax income (loss) $ (285) $ (180) Total revenues $ — $ —

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2020
Inventory Disclosure [Abstract]
Components of Inventories	Inventories consist of the following: March 31, 2020 December 31, 2019 (In thousands) New vehicles $ 1,072,318 $ 983,123 Used vehicles 324,526 319,791 Service loaners 152,254 152,278 Parts, accessories and other 59,120 62,683 Net inventories $ 1,608,218 $ 1,517,875

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
Components of Property and Equipment, Net	Property and equipment, net consists of the following: March 31, 2020 December 31, 2019 (In thousands) Land $ 373,963 $ 373,301 Building and improvements 976,904 969,609 Furniture, fixtures and equipment 352,574 346,260 Construction in progress 53,214 50,928 Total, at cost 1,756,655 1,740,098 Less accumulated depreciation (638,030) (616,611) Subtotal 1,118,625 1,123,487 Less assets held for sale (1) (26,240) (26,240) Property and equipment, net $ 1,092,385 $ 1,097,247 (1) Classified in other current assets in the accompanying unaudited condensed consolidated balance sheets.

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2020
Debt Instrument [Line Items]
Long-Term Debt	Long-term debt consists of the following: March 31, 2020 December 31, 2019 (In thousands) 2016 Revolving Credit Facility (1) $ 210,000 $ — 6.125% Senior Subordinated Notes due 2027 (the “6.125% Notes”) 250,000 250,000 2019 Mortgage Facility (2) 109,088 109,088 Mortgage notes to finance companies - fixed rate, bearing interest from 3.51% to 7.03% 191,248 194,535 Mortgage notes to finance companies - variable rate, bearing interest at 1.50 to 2.90 percentage points above one-month or three-month LIBOR 158,855 161,345 Subtotal $ 919,191 $ 714,968 Debt issuance costs (7,549) (8,082) Total debt 911,642 706,886 Less current maturities (80,803) (69,908) Long-term debt $ 830,839 $ 636,978 (1) The interest rate on the 2016 Revolving Credit Facility (as defined below) was 175 and 150 basis points above LIBOR at March 31, 2020 and December 31, 2019, respectively. (2) The interest rate on the 2019 Mortgage Facility (as defined below) was 175 and 200 basis points above the London Interbank Offer Rate ("LIBOR") at March 31, 2020 and December 31, 2019, respectively.
Financial Covenants Include Required Specified Ratios	were in compliance with the financial covenants under the 2016 Credit Facilities and the 2019 Mortgage Facility as of March 31, 2020. Financial covenants include required specified ratios (as each is defined in the 2016 Credit Facilities and the 2019 Mortgage Facility) of: Covenant Minimum Consolidated Liquidity Ratio Minimum Consolidated Fixed Charge Coverage Ratio Maximum Consolidated Total Lease Adjusted Leverage Ratio Required ratio 1.05 1.20 5.75 March 31, 2020 actual 1.07 1.70 3.69
Summary of Interest Received and Paid under Term of Cash Flow Swap	Under the terms of the interest rate cap agreements, we will receive interest based on the following: Notional Cap Rate (1) Receive Rate (1) (2) Start Date End Date (In millions) $ 312.5 2.000% one-month LIBOR July 1, 2019 June 30, 2020 $ 250.0 3.000% one-month LIBOR July 1, 2019 June 30, 2020 $ 225.0 3.000% one-month LIBOR July 1, 2020 June 30, 2021 $ 150.0 2.000% one-month LIBOR July 1, 2020 July 1, 2021 $ 250.0 3.000% one-month LIBOR July 1, 2021 July 1, 2022 (1) Under these interest rate caps, no payment from the counterparty will occur unless the stated receive rate exceeds the stated cap rate, in which case a net payment to us from the counterparty, based on the spread between the receive rate and the cap rate, will be recognized as a reduction of interest expense, other, net in the accompanying unaudited condensed consolidated statements of income. (2) The one-month LIBOR rate was approximately 0.993% at March 31, 2020.
6.125% Notes
Debt Instrument [Line Items]
Debt Instrument Redemption	We may redeem the 6.125% Notes, in whole or in part, at any time on or after March 15, 2022 at the following redemption prices, which are expressed as percentages of the principal amount: Redemption Price Beginning on March 15, 2022 103.063 % Beginning on March 15, 2023 102.042 % Beginning on March 15, 2024 101.021 % Beginning on March 15, 2025 and thereafter 100.000 %

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Assets and Liabilities Recorded at Fair Value	Assets and liabilities recorded at fair value in the accompanying unaudited condensed consolidated balance sheets as of March 31, 2020 and December 31, 2019 are as follows: Fair Value Based on Significant Other Observable Inputs (Level 2) March 31, 2020 December 31, 2019 (In thousands) Assets: Cash surrender value of life insurance policies (1) $ 32,209 $ 32,799 Interest rate caps designated as hedges (2) 88 97 Total assets $ 32,297 $ 32,896 Liabilities: Deferred compensation plan (3) $ 17,934 $ 17,890 Total liabilities $ 17,934 $ 17,890 (1) Included in other assets in the accompanying unaudited condensed consolidated balance sheets. (2) As of both March 31, 2020 and December 31, 2019, approximately $0.1 million was included in other assets in the accompanying unaudited condensed consolidated balance sheet. (3) Included in other long-term liabilities in the accompanying unaudited condensed consolidated balance sheets.
Fair Value and Carrying Value of Significant Fixed Rate Long-Term Debt	At March 31, 2020 and December 31, 2019, the fair value and carrying value of Sonic’s significant fixed rate long-term debt were as follows: March 31, 2020 December 31, 2019 Fair Value Carrying Value Fair Value Carrying Value (In thousands) 6.125% Notes (1) $ 207,500 $ 250,000 $ 261,250 $ 250,000 Mortgage Notes (2) $ 194,265 $ 191,248 $ 195,962 $ 194,535 (1) As determined by market quotations as of March 31, 2020 and December 31, 2019, respectively (Level 1). (2) As determined by discounted cash flows (Level 3) based on estimated current market interest rates for comparable instruments.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Summary of Changes in Accumulated Other Comprehensive Income (Loss)	The changes in accumulated other comprehensive income (loss) by component for the three months ended March 31, 2020 are as follows: Gains and Defined Total (In thousands) Balance at December 31, 2019 $ (1,326) $ (736) $ (2,062) Other comprehensive income (loss) before reclassifications (1) 294 — 294 Amounts reclassified out of accumulated other comprehensive income (loss) (2) (566) — (566) Net current-period other comprehensive income (loss) (272) — (272) Balance at March 31, 2020 $ (1,598) $ (736) $ (2,334) (1) Net of tax expense of $67 related to cash flow hedges.

Leases, Codification Topic 842

Leases, Codification Topic 842 (Tables) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Lease Expense [Abstract]
Finance Lease, Right-of-Use Asset, Amortization	$ 756,000	$ 709,000
Finance Lease, Interest Expense	1,344,000	1,176,000
Operating Lease, Cost	16,610,000	17,997,000
Short-term Lease, Cost	420,000	427,000
Variable Lease, Cost	718,000	114,000
Sublease Income	3,099,000	3,578,000
Lease, Cost	$ 16,749,000	$ 16,845,000
Lease Other Information [Abstract]
Weighted-average remaining lease term (in years): Finance leases	7 years 9 months 18 days	11 years 4 months 24 days
Weighted-average remaining lease term (in years): Operating leases	9 years 7 months 6 days	9 years 9 months 18 days
Weighted-average discount rate: Finance leases	16.52%	18.31%
Weighted-average discount rate: Operating leases	6.56%	6.86%
Finance Lease, Liability, Payment, Due [Abstract]
Finance Lease, Liability, Payments, Due Next Twelve Months	$ 23,572,000
Finance Lease, Liability, Payments, Due Year Two	6,075,000
Finance Lease, Liability, Payments, Due Year Three	6,083,000
Finance Lease, Liability, Payments, Due Year Four	6,144,000
Finance Lease, Liability, Payments, Due Year Five	6,263,000
Thereafter	43,103,000
Finance Lease, Liability, Payment, Due	91,240,000
Finance Lease, Liability, Undiscounted Excess Amount	37,799,000
Finance Lease, Liability	53,441,000
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months	48,808,000
Lessee, Operating Lease, Liability, Payments, Due Year Two	60,674,000
Lessee, Operating Lease, Liability, Payments, Due Year Three	54,358,000
Lessee, Operating Lease, Liability, Payments, Due Year Four	52,687,000
Lessee, Operating Lease, Liability, Payments, Due Year Five	47,219,000
Thereafter	223,118,000
Total	486,864,000
Less: Present value discount	132,354,000
Lease liabilities	354,510,000
Lease, Cost [Abstract]
Finance Lease, Principal Payments	337,000	$ 0
Finance Lease, Interest Payment on Liability	1,344,000	1,176,000
Operating Lease, Payments	16,753,000	18,469,000
Right-of-use assets obtained in exchange for new lease liabilities: Finance leases	6,728,000	9,983,000
Right-of-use assets obtained in exchange for new lease liabilities: Operating leases	27,226,000	(10,711,000)
2019 Finance Lease Principal Payments		281,000
Leases [Abstract]
Right of Use Assets Total	394,846,000		$ 372,533,000
Right-of-use asset	50,698,000		34,691,000
Lease Right of Use Asset New Lease Total	0
Finance Lease, Right-of-Use Asset, New Leases	0
Operating Lease, Right-of-Use Asset, New Leases	0
Lease Liability Current New Lease Total	0
Finance Lease, Liability, Current, New Leases	0
Operating Lease, Liability, Current, New Leases	0
Finance Lease, Liability, Noncurrent, New Leases	0
Operating Lease, Liability, Noncurrent, New Leases	0
Lease Liability Noncurrent New Lease Total	0
Finance Lease, Right-of-Use Asset, Modifications	16,763,000
Operating Lease, Right-of-Use Asset, Modifications	17,191,000
Lease Right of Use Asset Modifications Total	33,954,000
Lease Right of Use Asset Amortization Total	(11,641,000)
Finance Lease, Liability, Current, Modifications	18,588,000
Operating Lease, Liability, Current, Modifications	402,000
Lease, Liability Current, Modifications Total	18,990,000
Finance Lease, Liability, Noncurrent, Modifications	(2,687,000)
Operating Lease, Liability, Noncurrent, Modifications	17,651,000
Lease, Liability Noncurrent, Modifications Total	14,964,000
Operating Lease, Right-of-Use Asset, Amortization	10,885,000
Finance Lease, Right-of-Use Asset, Amortization	756,000	$ 709,000
Finance Lease, Liability, Current, Amortization	(73,000)
Operating Lease, Liability, Current, Amortization	595,000
Lease, Liability, Current, Amortization Total	(522,000)
Finance Lease, Liability, Noncurrent, Amortization	410,000
Operating Lease, Liability, Noncurrent, Amortization	10,431,000
Lease, Liability, Noncurrent, Amortization Total	(10,841,000)
Lease Liability Current Total	63,364,000		44,896,000
Operating Lease, Liability, Current	43,139,000		43,332,000
Finance Lease, Liability, Current	20,225,000		1,564,000
Lease Liability Noncurrent Total	344,587,000		340,464,000
Operating Lease, Liability, Noncurrent	311,371,000		304,151,000
Finance Lease, Liability, Noncurrent	33,216,000		$ 36,313,000
Lessor, Operating Lease, Payments, Fiscal Year Maturity [Abstract]
Lessor, Operating Lease, Payments to be Received, Next Twelve Months	8,343,000
Lessor, Operating Lease, Payments to be Received, Two Years	8,228,000
Lessor, Operating Lease, Payments to be Received, Three Years	6,103,000
Lessor, Operating Lease, Payments to be Received, Four Years	6,103,000
Lessor, Operating Lease, Payments to be Received, Five Years	5,042,000
Lessor, Operating Lease, Payments to be Received, Thereafter	4,270,000
Lessor, Operating Lease, Payments to be Received	$ 38,089,000

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Cumulative Effect of Adjustments for Adoption of ASC 606 (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Revenues:
Revenues	$ 2,308,056,000	$ 2,389,138,000
Cost of Sales:
Cost of Sales	(1,957,478,000)	(2,030,127,000)
Operating income (loss)	(221,875,000)	87,315,000
Assets:
Receivables, net	200,876,000		$ 432,742,000
Liabilities:
Other accrued liabilities	237,211,000		266,211,000
Deferred income taxes	0		8,927,000
Stockholders' Equity:
Retained Earnings (Accumulated Deficit)	586,511,000		790,158,000
Parts, service and collision repair
Revenues:
Revenues	334,680,000	341,430,000
Cost of Sales:
Cost of Sales	(176,782,000)	(178,194,000)
Finance, insurance and other, net
Revenues:
Revenues	115,292,000	106,238,000
ASU 2014-09
Stockholders' Equity:
Retained Earnings (Accumulated Deficit)		$ (7,428,000)
ASU 2014-09 | Finance, insurance and other, net
Assets:
Contract assets	$ 5,200,000		$ 12,900,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Recent Accounting Pronouncements (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right-of-use asset	$ 50,698,000	$ 34,691,000
Finance Lease, Liability	53,441,000
Intangible assets	64,300,000	64,300,000
Right-of-use asset	$ 344,148,000	$ 337,842,000

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Accounting Policies [Abstract]
Finance Lease, Right-of-Use Asset	$ 50,698		$ 34,691
Operating Lease, Right-of-Use Asset	344,148		$ 337,842
Finance Lease, Right-of-Use Asset, Amortization	$ (756)	$ (709)

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Other Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Accounting Policies [Abstract]
Right-of-use assets obtained in exchange for new lease liabilities: Finance leases	$ 6,728	$ 9,983
Right-of-use assets obtained in exchange for new lease liabilities: Operating leases	$ (27,226)	$ 10,711

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Undiscounted Lease Cash Flows (Details)	Mar. 31, 2020USD ($)
Finance Lease, Liability, Payment, Due [Abstract]
Total	$ 91,240,000
Finance Lease, Liability	53,441,000
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
Thereafter	223,118,000
Lease liabilities	$ 354,510,000

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Schedule of Equity Method Investments [Line Items]
Discrete charge for non-deductible executive compensation, transition costs			$ 1,500
Percentage of dealership that is accounted for under the equity method		50.00%
Contract work in process	$ 5,100	$ 3,600
Effective tax rate from continuing operations		18.20%	31.00%
Tax expense for uncertain tax positions		$ 100	$ 200
Discrete benefit related to vested or exercised stock compensation		500	200
Income benefit		44,117	(18,987)
Impairment charges		268,000	$ 1,952
Income Tax Benefit Goodwill Impairment		$ 51,300
Dealership
Schedule of Equity Method Investments [Line Items]
Percentage of dealership that is accounted for under the equity method		50.00%
ASU 2014-09 | Finance, insurance and other, net
Schedule of Equity Method Investments [Line Items]
Contract assets	$ 12,900	$ 5,200

Business Acquisitions and Dis_3

Business Acquisitions and Dispositions - Additional Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)Business	Mar. 31, 2019USD ($)Business
Business Combinations [Abstract]
Number of acquired franchises	0
Business Acquisition [Line Items]
Number of franchises disposed		3
Number of franchises terminated	0
Proceeds from sales of dealerships | $	$ 0	$ 121,700
Luxury franchise
Business Acquisition [Line Items]
Number of franchises terminated		1
Mid-line import franchise
Business Acquisition [Line Items]
Net cash generated from disposition | $		$ 121,700

Business Acquisitions and Dis_4

Business Acquisitions and Dispositions - Revenues and Other Activities Associated with Disposed Dealerships Classified as Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Pre-tax income (loss)	$ (285)	$ (180)
Disposed dealerships classified as discontinued operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (loss) from operations	(285)	(180)
Lease exit accrual adjustments and charges	0	0
Pre-tax income (loss)	(285)	(180)
Total revenues	$ 0	$ 0

Business Acquisitions and Dis_5

Business Acquisitions and Dispositions - Revenues and Other Activities Associated with Disposed Dealerships That Remain in Continuing Operations (Details) - Disposed dealerships that remain in continuing operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (loss) from operations	$ (160)	$ (2,553)
Gain (loss) on disposal	2	46,750
Lease exit accrual adjustments and charges	0	170
Pre-tax income (loss)	(158)	44,367
Total revenues	$ 0	$ 106,774

Inventories - Components of Inv

Inventories - Components of Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
New vehicles	$ 1,072,318	$ 983,123
Used vehicles	324,526	319,791
Service loaners	152,254	152,278
Parts, accessories and other	59,120	62,683
Net inventories	$ 1,608,218	$ 1,517,875

Property and Equipment - Compon

Property and Equipment - Components of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Less accumulated depreciation	$ (638,030)	$ (616,611)
Subtotal	1,118,625	1,123,487
Less assets held for sale	(26,240)	(26,240)
Property and equipment, net	1,092,385	1,097,247
Land
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	373,963	373,301
Building and improvements
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	976,904	969,609
Furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	352,574	346,260
Construction in progress
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	53,214	50,928
Property, Plant and Equipment, Net, Excluding Capital Leased Assets
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 1,756,655	$ 1,740,098

Property and Equipment - Additi

Property and Equipment - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
Capital expenditures	$ 19,800	$ 30,600
Impairment charges	268,000	1,952
Impairment of Long-Lived Assets Held-for-use	$ 0
Impairment of Long-Lived Assets to be Disposed of		$ 2,000

Goodwill and Intangible Assets

Goodwill and Intangible Assets - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 207,791	$ 475,791
Net of accumulated impairment losses	1,100,000	797,600
Income Tax Benefit Goodwill Impairment	51,300
Goodwill - Franchise Segment	147,800	415,800
Goodwill - Preowned Segment	60,000	60,000
Finite-Lived Intangible Assets [Line Items]
Goodwill	207,791	$ 475,791
Franchise assets
Finite-Lived Intangible Assets [Line Items]
Franchise assets	$ 64,300

Long-Term Debt - Long-Term Debt

Long-Term Debt - Long-Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 10, 2017
Debt Instrument [Line Items]
Subtotal	$ 919,191	$ 714,968
Debt issuance costs	(7,549)	(8,082)
Total debt	911,642	706,886
Less current maturities	(80,803)	(69,908)
Long-term debt	830,839	636,978
Mortgage notes
Debt Instrument [Line Items]
Mortgage notes to finance companies - fixed rate, bearing interest from 3.51% to 7.03%	191,248	194,535
Mortgage notes to finance companies - variable rate, bearing interest at 1.50 to 2.90 percentage points above one-month or three-month LIBOR	158,855	161,345
Subtotal	$ 350,100
Mortgage notes | Minimum
Debt Instrument [Line Items]
Mortgage notes to finance companies-fixed rate, percentage	3.51%
Mortgage notes to finance companies-variable rate, percentage	1.50%
Mortgage notes | Maximum
Debt Instrument [Line Items]
Mortgage notes to finance companies-fixed rate, percentage	7.03%
Mortgage notes to finance companies-variable rate, percentage	2.90%
2016 Revolving Credit Facility
Debt Instrument [Line Items]
2016 Revolving Credit Facility	$ 210,000	$ 0
Interest rate	2.50%	2.25%
5.0% Senior Subordinate Notes due 2023
Debt Instrument [Line Items]
Stated interest rate	5.00%
6.125% Senior Subordinate Notes due 2027
Debt Instrument [Line Items]
Senior Subordinated Notes	$ 250,000	$ 250,000
Total debt	$ 250,000	250,000
Stated interest rate	6.125%		6.125%
2019 Mortgage Facility [Member]
Debt Instrument [Line Items]
Senior Subordinated Notes	$ 109,088	$ 109,088
Stated interest rate	2.50%

Long-Term Debt - Debt Redemptio

Long-Term Debt - Debt Redemption (Details) - 6.125% Notes	3 Months Ended
	Mar. 31, 2020
Period One
Debt Instrument, Redemption [Line Items]
Redemption percentage of principal amount	103.063%
Period Two
Debt Instrument, Redemption [Line Items]
Redemption percentage of principal amount	102.042%
Period Three
Debt Instrument, Redemption [Line Items]
Redemption percentage of principal amount	101.021%
Period Four
Debt Instrument, Redemption [Line Items]
Redemption percentage of principal amount	100.00%

Long-Term Debt - 2016 Credit Fa

Long-Term Debt - 2016 Credit Facilities (Details) - USD ($)	Nov. 30, 2016	Mar. 31, 2020	Dec. 31, 2019
2016 Revolving Credit Facility
Line of Credit Facility [Line Items]
2016 Revolving Credit Facility		$ 210,000,000	$ 0
Revolving Credit Facility | 2016 Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of Credit Facility, Increase (Decrease), Net	$ 25,000,000
Current borrowing capacity		250,000,000
Maximum borrowing capacity		300,000,000
Borrowing base		196,500,000
Letters of credit outstanding amount		13,000,000
Borrowing availability amount		0
Revolving Credit Facility | 2016 Credit Facilities
Line of Credit Facility [Line Items]
2016 Revolving Credit Facility		210,000,000
Revolving Credit Facility | 2016 New Vehicle Floor Plan Facility and 2016 Used Vehicle Floor Plan Facility
Line of Credit Facility [Line Items]
Current borrowing capacity		1,015,000,000
Maximum borrowing capacity		$ 1,265,000,000
Maximum aggregate commitments allocated to commitments under the 2016 Used Vehicle Floor Plan Facility		30.00%
Revolving Credit Facility | Two Thousand Sixteen Vehicle Floor Plan Facility [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Increase (Decrease), Net	$ 215,000,000

Long-Term Debt - Notes Narrativ

Long-Term Debt - Notes Narrative (Details) - USD ($)	Mar. 10, 2017	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Debt Instrument Percentage Of Outstanding Principal Amount Redeemable Upon Event Of Default		25.00%
Debt outstanding		$ 919,191,000	$ 714,968,000
Maximum Borrowing 2019 Mortgage Facility		$ 112,200,000
Mortgage notes
Debt Instrument [Line Items]
Debt weighted average interest rate on note		4.01%
Debt outstanding		$ 350,100,000
5.0% Notes
Debt Instrument [Line Items]
Stated interest rate		5.00%
6.125% Notes
Debt Instrument [Line Items]
Notes Redemption Price Percentage Of Par Value Due To Change Of Control	101.00%
Stated interest rate	6.125%	6.125%
Principal amount	$ 250,000,000
Notes issued, percent of principal	100.00%
Maximum dividend (usd per share)		$ 0.12
2019 Mortgage Facility [Member]
Debt Instrument [Line Items]
Stated interest rate		2.50%
Long Term Debt Prepayment		$ 500,000
Debt Instrument, Unused Borrowing Capacity, Amount		$ 3,100,000
Debt Instrument Maximum Allowed Dividends Per Share		$ 0.10
Percent of Collateralized Real Estate		75.00%
Minimum | 5.0% Notes
Debt Instrument [Line Items]
Debt Instrument Other Outstanding Indebtedness In Excess		$ 50,000,000
Minimum | 2019 Mortgage Facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		0.50%
Debt Instrument, Basis Spread LIBOR		1.50%
Maximum | 2019 Mortgage Facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		1.75%
Debt Instrument, Basis Spread LIBOR		2.75%

Long-Term Debt - Covenants (Det

Long-Term Debt - Covenants (Details) $ in Millions	Mar. 31, 2020USD ($)
Line of Credit Facility [Line Items]
Minimum Consolidated Liquidity Ratio	107.00%
Minimum Consolidated Fixed Charge Coverage Ratio	170.00%
Maximum Consolidated Total Lease Adjusted Leverage Ratio	369.00%
2016 Credit Facilities
Line of Credit Facility [Line Items]
Net income and retained earnings free of restrictions	$ 274.1
Minimum EBTDAR to rent ratio	580.00%
Required ratio
Line of Credit Facility [Line Items]
Minimum Consolidated Liquidity Ratio	105.00%
Minimum Consolidated Fixed Charge Coverage Ratio	120.00%
Maximum Consolidated Total Lease Adjusted Leverage Ratio	575.00%
Required ratio | 2016 Credit Facilities
Line of Credit Facility [Line Items]
Minimum EBTDAR to rent ratio	150.00%

Long-Term Debt - Derivative Ins

Long-Term Debt - Derivative Instruments and Hedging Activities (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Dec. 31, 2018
Derivatives, Fair Value [Line Items]
Derivative Cash Premium Paid			$ 2,500,000	$ 2,800,000
Derivative Instrument, Unamortized Premium	$ 3,400,000		$ 3,700,000
Incremental interest expense	0	$ 400,000
Net benefit expected to be reclassified	700,000
Interest rate swap and interest rate cap | Derivative instruments and hedging activities
Derivatives, Fair Value [Line Items]
Fair value of derivative	100,000			$ 100,000
Net cash proceeds	$ 4,800,000

Long-Term Debt - Summary of Int

Long-Term Debt - Summary of Interest Received and Paid under Term of Cash Flow Swap (Details)	Mar. 31, 2020USD ($)
Derivatives, Fair Value [Line Items]
One month LIBOR rate	0.993%
Cash Flow Swap D
Derivatives, Fair Value [Line Items]
Notional Amount	$ 312,500,000
Pay Rate	2.00%
Cash Flow Swap E
Derivatives, Fair Value [Line Items]
Notional Amount	$ 250,000,000
Pay Rate	3.00%
Cash Flow Swap F
Derivatives, Fair Value [Line Items]
Notional Amount	$ 225,000,000
Pay Rate	3.00%
Cash Flow Swap G
Derivatives, Fair Value [Line Items]
Notional Amount	$ 150,000,000
Pay Rate	2.00%
Cash Flow Swap H
Derivatives, Fair Value [Line Items]
Notional Amount	$ 250,000,000
Pay Rate	3.00%

Per Share Data and Stockholders

Per Share Data and Stockholders' Equity - Dilutive Effect on Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Weighted Average Shares
Weighted average common shares outstanding	42,615	42,838
Diluted earnings (loss) (shares)	42,615	42,888
From Continuing Operations
Earnings (loss)	$ (199,131)	$ 42,349
Basic earnings (loss) per share (usd per share)	$ (4.67)	$ 0.99
From Discontinued Operations
Earnings (loss)	$ (202)	$ (128)
Basic earnings (loss) per share (usd per share)	$ (0.01)	$ (0.01)
Net Income (Loss)
Earnings (loss)	$ (199,333)	$ 42,221
Basic earnings (loss) per share (usd per share)	$ (4.68)	$ 0.98
Effect of dilutive securities:
Earnings (loss) per share from continuing operations (usd per share)	(4.67)	0.99
Earnings (loss) per share from discontinued operations (usd per share)	(0.01)	(0.01)
Earnings (loss) per common share (usd per share)	$ (4.68)	$ 0.98

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Other Commitments [Line Items]
Maximum exposure associated with general indemnifications	$ 43.3	$ 46.5
General indemnifications minimum expiration period	1 year
General indemnifications maximum expiration period	3 years
Percentage of dealership that is accounted for under the equity method	50.00%
Contingent liability reserve balance after reduction	$ 4.3
Other accrued liabilities
Other Commitments [Line Items]
Amount reserved for pending proceedings	0.4	1.2
Other long-term liabilities
Other Commitments [Line Items]
Amount reserved for pending proceedings	$ 0.2	$ 0.3

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Recorded at Fair Value (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2020	Dec. 31, 2019
Fair Value, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Tangible Asset Impairment Charges	$ 268,000
Fair Value Based on Significant Other Observable Inputs (Level 2)
Assets:
Cash surrender value of life insurance policies		$ 32,209	$ 32,799
Cash flow swaps and interest rate caps designated as hedges		88	97
Total assets		32,297	32,896
Liabilities:
Deferred compensation plan		17,934	17,890
Total liabilities		17,934	17,890
Fair Value Based on Significant Other Observable Inputs (Level 2) | Other assets
Assets:
Cash flow swaps and interest rate caps designated as hedges		$ 100
Fair Value Based on Significant Other Observable Inputs (Level 2) | Other accrued liabilities
Liabilities:
Cash flow swaps and interest rate caps designated as hedges			0
Fair Value Based on Significant Other Observable Inputs (Level 2) | Other long-term liabilities
Liabilities:
Cash flow swaps and interest rate caps designated as hedges			$ 0

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value and Carrying Value of Significant Fixed Rate Long-Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 10, 2017
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value	$ 911,642	$ 706,886
Mortgage Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	194,265	195,962
Carrying Value	$ 191,248	194,535
5.0% Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	5.00%
6.125% Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	$ 207,500	261,250
Carrying Value	$ 250,000	$ 250,000
Stated interest rate	6.125%		6.125%

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Summary of Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 944,764,000	$ 823,116,000
Other comprehensive income (loss) before reclassifications	294,000
Amounts reclassified out of accumulated other comprehensive income (loss)	(566,000)
Other comprehensive income (loss)	(272,000)	(1,861,000)
Ending balance	721,987,000	852,286,000
Other comprehensive income (loss) before reclassifications, tax expense	67
Amounts reclassified out of accumulated other comprehensive income (loss), tax expense	(231)
Gains and Losses on Cash Flow Hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(1,326,000)
Other comprehensive income (loss) before reclassifications	294,000
Amounts reclassified out of accumulated other comprehensive income (loss)	(566,000)
Other comprehensive income (loss)	(272,000)
Ending balance	(1,598,000)
Defined Benefit Pension Plan
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(736,000)
Other comprehensive income (loss) before reclassifications	0
Amounts reclassified out of accumulated other comprehensive income (loss)	0
Other comprehensive income (loss)	0
Ending balance	(736,000)
Total Accumulated Other Comprehensive Income (Loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(2,062,000)	4,233,000
Other comprehensive income (loss)	(272,000)	(1,861,000)
Ending balance	$ (2,334,000)	$ 2,372,000

Segment Information - Additiona

Segment Information - Additional Information (Details)	3 Months Ended
	Mar. 31, 2020Segment
Segment Reporting [Abstract]
Number of operating segments	2

Segment Information - Summary o

Segment Information - Summary of Reportable Operating Segment (Details)	3 Months Ended
	Mar. 31, 2020USD ($)retail_Units	Mar. 31, 2019USD ($)retail_Units	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Revenues:
Total consolidated revenues	$ 2,308,056,000	$ 2,389,138,000
Segment income (loss):
Segment income (loss)	(221,875,000)	87,315,000
Interest expense, other, net	(10,965,000)	(12,853,000)
Other income (expense), net	100,000	100,000
Income (loss) from continuing operations before taxes	(243,248,000)	61,336,000
Executive transition costs		6,300,000
Asset impairment charges	$ 268,000,000	1,952,000
Impairment of Long-Lived Assets to be Disposed of		$ 2,000,000
Retail Units | retail_Units	61,748	63,660
Depreciation, Depletion and Amortization	$ 22,297,000	$ 22,649,000
FloorPlanInterestExpense	10,508,000	13,226,000
Interest Expense, Other	10,965,000	12,853,000
Payments to Acquire Property, Plant, and Equipment	19,805,000	30,619,000
Cash and cash equivalents	181,780,000	2,722,000	$ 29,103,000	$ 5,854,000
Assets	3,976,744,000		4,071,035,000
Gain on Franchise Disposal		46,700,000
Executive transition costs		6,300,000
Franchised Dealerships Segment
Revenues:
Total consolidated revenues	1,976,347,000	2,139,562,000
Segment income (loss):
Interest expense, other, net	(10,599,000)	(12,414,000)
Asset impairment charges	$ 268,000,000	$ 26,000
Retail Units | retail_Units	47,762	52,609
Depreciation, Depletion and Amortization	$ 19,589,000	$ 20,237,000
FloorPlanInterestExpense	9,608,000	12,505,000
Interest Expense, Other	10,599,000	12,414,000
Payments to Acquire Property, Plant, and Equipment	17,249,000	25,229,000
Assets	3,550,745,000		3,797,878,000
EchoPark Segment
Revenues:
Total consolidated revenues	331,709,000	249,576,000
Segment income (loss):
Interest expense, other, net	(366,000)	(439,000)
Asset impairment charges	$ 0	1,926,000
Impairment of Long-Lived Assets to be Disposed of		$ 1,900,000
Retail Units | retail_Units	13,986	11,051
Depreciation, Depletion and Amortization	$ 2,708,000	$ 2,412,000
FloorPlanInterestExpense	900,000	721,000
Interest Expense, Other	366,000	439,000
Payments to Acquire Property, Plant, and Equipment	2,556,000	5,390,000
Assets	244,219,000		$ 244,054,000
Operating segments
Segment income (loss):
Segment income (loss)	24,752,000	63,288,000
Operating segments | Franchised Dealerships Segment
Segment income (loss):
Segment income (loss)	22,656,000	61,182,000
Operating segments | EchoPark Segment
Segment income (loss):
Segment income (loss)	2,096,000	2,106,000
Reconciling items
Segment income (loss):
Other income (expense), net	(243,248,000)	61,336,000
Asset impairment charges	(268,000,000)	(1,952,000)
New vehicles
Revenues:
Total consolidated revenues	959,489,000	1,066,334,000
New vehicles | Franchised Dealerships Segment
Revenues:
Total consolidated revenues	959,489,000	1,066,334,000
Used vehicles
Revenues:
Total consolidated revenues	850,052,000	820,366,000
Used vehicles | Franchised Dealerships Segment
Revenues:
Total consolidated revenues	566,888,000	603,949,000
Used vehicles | EchoPark Segment
Revenues:
Total consolidated revenues	283,164,000	216,417,000
Wholesale vehicles
Revenues:
Total consolidated revenues	48,543,000	54,770,000
Wholesale vehicles | Franchised Dealerships Segment
Revenues:
Total consolidated revenues	42,440,000	52,533,000
Wholesale vehicles | EchoPark Segment
Revenues:
Total consolidated revenues	6,103,000	2,237,000
Parts, service and collision repair
Revenues:
Total consolidated revenues	334,680,000	341,430,000
Parts, service and collision repair | Franchised Dealerships Segment
Revenues:
Total consolidated revenues	324,501,000	336,225,000
Parts, service and collision repair | EchoPark Segment
Revenues:
Total consolidated revenues	10,179,000	5,205,000
Finance, insurance and other, net
Revenues:
Total consolidated revenues	115,292,000	106,238,000
Finance, insurance and other, net | Franchised Dealerships Segment
Revenues:
Total consolidated revenues	83,029,000	80,521,000
Finance, insurance and other, net | EchoPark Segment
Revenues:
Total consolidated revenues	$ 32,263,000	$ 25,717,000

Leases, Codification Topic 84_2

Leases, Codification Topic 842 (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Right-of-use asset	$ 50,698,000	$ 34,691,000
Lessor, Operating Lease, Payments to be Received, Five Years	5,042,000
Right-of-use asset	$ 344,148,000	$ 337,842,000