Sonic Automotive (SAH) 10-Q 28 Jul 22 2022 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2022	Apr. 27, 2022
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	Jun. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
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		27,236,398
Class B common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		12,029,375

Details

Details	6 Months Ended
	Jun. 30, 2022
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		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues:
Revenues	$ 3,652,800,000	$ 3,352,200,000	$ 7,239,400,000	$ 6,139,000,000
Cost of Sales:
Cost of Sales	(3,064,000,000)	(2,841,400,000)	(6,079,300,000)	(5,227,300,000)
Gross profit	588,800,000	510,800,000	1,160,100,000	911,700,000
Selling, general and administrative expenses	(402,800,000)	(320,600,000)	(789,800,000)	(610,000,000)
Depreciation and amortization	(31,200,000)	(24,800,000)	(61,100,000)	(48,400,000)
Operating income (loss)	154,800,000	165,400,000	309,200,000	253,300,000
Other income (expense):
Interest expense, floor plan	(6,100,000)	(4,300,000)	(11,100,000)	(9,400,000)
Interest expense, other, net	(21,300,000)	(10,100,000)	(42,100,000)	(20,400,000)
Other income (expense), net	(200,000)	0	100,000	100,000
Total other income (expense)	(27,600,000)	(14,400,000)	(53,100,000)	(29,700,000)
Income (loss) from continuing operations before taxes	127,200,000	151,000,000	256,100,000	223,600,000
Provision for income taxes for continuing operations - benefit (expense)	(32,400,000)	(37,000,000)	(64,000,000)	(55,900,000)
Income (loss) from continuing operations	94,800,000	114,000,000	192,100,000	167,700,000
Discontinued operations:
Income (loss) from discontinued operations before taxes	0	(200,000)	0	500,000
Provision for income taxes for discontinued operations - benefit (expense)	0	0	0	(100,000)
Income (loss) from discontinued operations	0	(200,000)	0	400,000
Net income (loss)	$ 94,800,000	$ 113,800,000	$ 192,100,000	$ 168,100,000
Basic earnings (loss) per common share:
Earnings (loss) per share from continuing operations (usd per share)	$ 2.40	$ 2.74	$ 4.81	$ 4.03
Earnings (loss) per share from discontinued operations (usd per share)	0	0	0	0.01
Earnings (loss) per common share (usd per share)	$ 2.40	$ 2.74	$ 4.81	$ 4.04
Weighted average common shares outstanding	39,500	41,600	40,000	41,600
Diluted earnings (loss) per common share:
Earnings (loss) per share from continuing operations (usd per share)	$ 2.34	$ 2.63	$ 4.67	$ 3.86
Earnings (loss) per share from discontinued operations (usd per share)	0	0	0	0.01
Earnings (loss) per common share (usd per share)	$ 2.34	$ 2.63	$ 4.67	$ 3.87
Weighted average common shares outstanding	40,500	43,400	41,200	43,500
Total vehicles
Revenues:
Revenues	$ 3,081,500,000	$ 2,828,900,000	$ 6,121,000,000	$ 5,162,900,000
Cost of Sales:
Cost of Sales	(2,864,000,000)	(2,670,900,000)	(5,685,400,000)	(4,903,900,000)
New vehicles
Revenues:
Revenues	1,510,700,000	1,462,900,000	3,010,600,000	2,619,200,000
Cost of Sales:
Cost of Sales	(1,341,500,000)	(1,344,500,000)	(2,672,800,000)	(2,431,300,000)
Used vehicles
Revenues:
Revenues	1,449,400,000	1,281,200,000	2,820,200,000	2,384,100,000
Cost of Sales:
Cost of Sales	(1,402,300,000)	(1,246,100,000)	(2,725,000,000)	(2,318,400,000)
Wholesale vehicles
Revenues:
Revenues	121,400,000	84,800,000	290,200,000	159,600,000
Cost of Sales:
Cost of Sales	(120,200,000)	(80,300,000)	(287,600,000)	(154,200,000)
Retail New Vehicles [Member]
Revenues:
Revenues	1,344,300,000	1,453,200,000	2,695,600,000	2,587,200,000
Cost of Sales:
Cost of Sales	(1,176,000,000)	(1,335,100,000)	(2,359,600,000)	(2,399,900,000)
Fleet New Vehicles [Member]
Revenues:
Revenues	166,400,000	9,700,000	315,000,000	32,000,000
Cost of Sales:
Cost of Sales	(165,500,000)	(9,400,000)	(313,200,000)	(31,400,000)
Parts, service and collision repair
Revenues:
Revenues	398,100,000	346,100,000	778,700,000	654,200,000
Cost of Sales:
Cost of Sales	(200,000,000)	(170,500,000)	(393,900,000)	(323,400,000)
Finance, insurance and other, net
Revenues:
Revenues	$ 173,200,000	$ 177,200,000	$ 339,700,000	$ 321,900,000

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 94,800	$ 113,800	$ 192,100	$ 168,100
Other comprehensive income (loss) before taxes:
Change in fair value of interest rate swap and interest rate cap agreements	400	500	700	900
Total other comprehensive income (loss) before taxes	400	500	700	900
Provision for income tax benefit (expense) related to components of other comprehensive income (loss)	(100)	(100)	(200)	(300)
Other comprehensive income (loss)	300	400	500	600
Comprehensive income (loss)	$ 95,100	$ 114,200	$ 192,600	$ 168,700

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current Assets:
Cash and cash equivalents	$ 327,100	$ 299,400
Receivables, net	345,900	401,100
Inventories	1,240,400	1,261,200
Other current assets	157,500	122,400
Total current assets	2,070,900	2,084,100
Property and Equipment, net	1,491,600	1,458,800
Goodwill	423,500	416,400
Other Intangible Assets, net	486,600	480,200
Right-of-use asset	276,500	293,200
Finance Lease, Right-of-Use Asset, after Accumulated Amortization	211,400	179,900
Other Assets	63,000	62,500
Total Assets	5,023,500	4,975,100
Current Liabilities:
Notes payable - floor plan - trade	77,500	89,800
Notes payable - floor plan - non-trade	1,153,700	1,178,600
Trade accounts payable	134,600	133,300
Operating Lease, Liability, Current	36,400	36,200
Finance Lease, Liability, Current	54,200	52,700
Other accrued liabilities	350,200	350,500
Current maturities of long-term debt	76,500	50,600
Total current liabilities	1,883,100	1,891,700
Long-Term Debt	1,462,000	1,510,700
Other Long-Term Liabilities	92,500	96,000
Operating Lease, Liability, Noncurrent	247,300	264,800
Finance Lease, Liability, Noncurrent	168,600	135,500
Commitments and Contingencies
Stockholders' Equity:
Class A convertible preferred stock, none issued	0	0
Paid-in capital	804,600	790,200
Retained Earnings (Accumulated Deficit)	1,223,500	1,051,700
Accumulated other comprehensive income (loss)	(800)	(1,300)
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	(858,100)	(765,000)
Total Stockholders' Equity	1,170,000	1,076,400
Total Liabilities and Stockholders' Equity	5,023,500	4,975,100
Class A Common Stock
Stockholders' Equity:
Common stock, value	700	700
Class B common stock
Stockholders' Equity:
Common stock, value	$ 100	$ 100

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
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	67,134,072	66,501,072
Common stock, shares outstanding	27,236,398	28,692,532
Treasury stock, shares	39,897,674	37,808,540
Class B common stock
Common stock, par value (usd per share)	$ 0.01
Common stock, shares authorized	30,000,000
Common stock, shares issued	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 Stock Common Stock	Class A Common Stock Treasury Stock	Class A Common Stock Retained Earnings	Class B Common Stock	Class B Common Stock Common Stock	Class B Common Stock Retained Earnings
Beginning balance at Dec. 31, 2020	$ 814,800	$ 767,500	$ 721,800	$ (3,600)		$ 700	$ (671,700)			$ 100
Beginning balance (shares) at Dec. 31, 2020						65,600	35,800			12,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares awarded under stock compensation plan	6,800	6,800				$ 0
Shares awarded under stock compensation plan (shares)						800
Purchase of treasury stock	(42,200)						$ (42,200)
Purchases of treasury stock (shares)							(1,000)
Change in fair value of interest rate swap and interest rate cap agreements, net of tax expense of $1,563	600			600
Restricted stock amortization		7,500
Net income (loss)	168,100		168,100
Dividends, Common Stock					$ 6,500			$ 6,500	$ 2,700		$ 2,700
Ending balance at Jun. 30, 2021	946,400	781,800	880,700	(3,000)		$ 700	$ (713,900)			$ 100
Ending balance (shares) at Jun. 30, 2021						66,400	36,800			12,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared per common share (usd per share)					$ 0.22				$ 0.22
Tax effect on fair value of interest rate swap and rate cap agreements	300
Beginning balance at Mar. 31, 2021	826,500	771,100	771,900	(3,400)		$ 700	$ (713,900)			$ 100
Beginning balance (shares) at Mar. 31, 2021						66,000	36,800			12,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares awarded under stock compensation plan	6,800	6,800				$ 0
Shares awarded under stock compensation plan (shares)						400
Purchase of treasury stock	0						$ 0
Purchases of treasury stock (shares)							0
Change in fair value of interest rate swap and interest rate cap agreements, net of tax expense of $1,563	400			400
Restricted stock amortization	3,900	3,900
Net income (loss)	113,800		113,800
Dividends, Common Stock					$ 3,600			3,600	$ 1,400		1,400
Ending balance at Jun. 30, 2021	946,400	781,800	880,700	(3,000)		$ 700	$ (713,900)			$ 100
Ending balance (shares) at Jun. 30, 2021						66,400	36,800			12,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared per common share (usd per share)					$ 0.12				$ 0.12
Tax effect on fair value of interest rate swap and rate cap agreements	100
Retained Earnings (Accumulated Deficit)	1,051,700
Beginning balance at Dec. 31, 2021	1,076,400	790,200	1,051,700	(1,300)		$ 700	$ (765,000)			$ 100
Beginning balance (shares) at Dec. 31, 2021						66,500	37,800			12,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares awarded under stock compensation plan	1,300	1,300				$ 0
Shares awarded under stock compensation plan (shares)						600
Purchase of treasury stock	(93,100)						$ (93,100)
Purchases of treasury stock (shares)							(2,100)
Change in fair value of interest rate swap and interest rate cap agreements, net of tax expense of $1,563	500			500
Restricted stock amortization		13,100
Net income (loss)	192,100		192,100
Dividends, Common Stock					$ 14,300			14,300	$ 6,000		6,000
Ending balance at Jun. 30, 2022	1,170,000	804,600	1,223,500	(800)		$ 700	$ (858,100)			$ 100
Ending balance (shares) at Jun. 30, 2022						67,100	39,900			12,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared per common share (usd per share)					$ 0.37				$ 0.37
APIC, Share-based Payment Arrangement, Increase for Cost Recognition		13,100
Tax effect on fair value of interest rate swap and rate cap agreements	200
Beginning balance at Mar. 31, 2022	1,135,000	795,100	1,138,900	(1,100)		$ 700	$ (798,700)			$ 100
Beginning balance (shares) at Mar. 31, 2022						67,000	38,500			12,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares awarded under stock compensation plan	900	900				$ 0
Shares awarded under stock compensation plan (shares)						100
Purchase of treasury stock	(59,400)						$ (59,400)
Purchases of treasury stock (shares)							(1,400)
Change in fair value of interest rate swap and interest rate cap agreements, net of tax expense of $1,563	300			300
Restricted stock amortization	8,600
Net income (loss)	94,800		94,800
Dividends, Common Stock					$ 7,200			$ 7,200	$ 3,000		$ 3,000
Ending balance at Jun. 30, 2022	1,170,000	804,600	$ 1,223,500	$ (800)		$ 700	$ (858,100)			$ 100
Ending balance (shares) at Jun. 30, 2022						67,100	39,900			12,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared per common share (usd per share)					$ 0.25				$ 0.25
APIC, Share-based Payment Arrangement, Increase for Cost Recognition		$ 8,600
Tax effect on fair value of interest rate swap and rate cap agreements	100
Retained Earnings (Accumulated Deficit)	$ 1,223,500

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Stockholders' Equity [Abstract]
Tax effect on fair value of interest rate swap and rate cap agreements	$ 100	$ 100	$ 200	$ 300

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ 192,100	$ 168,100
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization of property and equipment	55,200	45,400
Debt issuance cost amortization	2,300	1,700
Stock-based compensation expense	13,100	7,500
Deferred income taxes	(7,400)	(6,000)
Other	(500)	(500)
Changes in assets and liabilities that relate to operations:
Receivables	58,800	14,500
Inventories	29,800	240,200
Other assets	1,600	10,500
Notes payable - floor plan - trade	(12,300)	(552,400)
Trade accounts payable and other liabilities	(26,400)	36,400
Total adjustments	114,200	(202,700)
Net cash provided by (used in) operating activities	306,300	(34,600)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of businesses, net of cash acquired	(28,400)	(28,600)
Purchases of land, property and equipment	(100,400)	(105,100)
Proceeds from sales of property and equipment	10,000	700
Proceeds from sales of dealerships	0	3,800
Net cash provided by (used in) investing activities	(118,800)	(129,200)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net (repayments) borrowings on notes payable - floor plan - non-trade	24,900	314,300
Borrowings on revolving credit facilities	0	4,900
Repayments on revolving credit facilities	0	(4,900)
Debt issuance costs	300	(4,700)
Principal payments and repurchase of long-term debt	(24,700)	(30,700)
Purchases of treasury stock	(93,100)	(42,200)
Finance Lease, Principal Payments	3,100	2,100
Issuance of shares under stock compensation plans	1,300	6,800
Dividends paid	(15,000)	(8,300)
Net cash provided by (used in) financing activities	(159,800)	233,100
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	27,700	69,300
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	299,400	170,300
CASH AND CASH EQUIVALENTS, END OF PERIOD	327,100	239,600
Cash paid (received) during the period for:
Interest, including amount capitalized	52,600	29,600
Income taxes	$ 59,000	$ 54,400

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Statement of Cash Flows [Abstract]
Tax effect on fair value of interest rate swap and rate cap agreements	$ 200	$ 334

Business Acquisitions and Dispo

Business Acquisitions and Dispositions	6 Months Ended
	Jun. 30, 2022
Business Combinations [Abstract]
Business Acquisitions and Dispositions	2. Business Acquisitions and Dispositions We acquired one franchised dealership location during the six months ended June 30, 2022 for an aggregate gross purchase price (including inventory acquired and subsequently funded by floor plan notes payable) of approximately $20.9 million, including a $14.7 million impact of a post-close adjustment related to the acquisition of RFJ Auto Partners, Inc. completed in December 2021. The allocation of the roughly $6.2 million aggregate gross purchase price for the acquisition completed during the six months ended June 30, 2022 included inventory of approximately $3.1 million, property and equipment of approximately $0.1 million, franchise assets of approximately $2.5 million, and goodwill of approximately $0.5 million. We acquired two businesses to be included in our EchoPark segment during the six months ended June 30, 2021 for an aggregate gross purchase price (including inventory acquired and subsequently funded by floor plan notes payable) of approximately $28.6 million. We did not dispose of any businesses during the six months ended June 30, 2022. During the six months ended June 30, 2021, we disposed of one luxury franchised dealership, which generated net cash from dispositions of approximately $3.8 million.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consist of the following: June 30, 2022 December 31, 2021 (In millions) New vehicles $ 321.5 $ 273.1 Used vehicles 719.8 807.2 Service loaners 118.8 106.3 Parts, accessories and other 80.3 74.6 Net inventories $ 1,240.4 $ 1,261.2

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment	Assets held for sale as of June 30, 2022 and December 31, 2021 consist of real property not currently used in operations that we expect to dispose of in the next 12 months.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets The changes in the carrying amount of goodwill for June 30, 2022 and December 31, 2021 were as follows: June 30, 2022 December 31, 2021 (In millions) Carrying Amount of Goodwill: Franchised Dealerships Segment $ 219.8 $ 213.5 EchoPark Segment 203.7 202.9 Total goodwill (1) $ 423.5 $ 416.4 (1) Net of accumulated impairment losses of $1.1 billion.

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
2016 Credit Facilities [Text Block]	2021 Credit Facilities On April 14, 2021, we entered into an amended and restated syndicated revolving credit facility (the “2021 Revolving Credit Facility”) and amended and restated syndicated new and used vehicle floor plan credit facilities (the “2021 Floor Plan Facilities” and, together with the 2021 Revolving Credit Facility, the “2021 Credit Facilities”). The amendment and restatement of the 2021 Credit Facilities extended the scheduled maturity dates to April 14, 2025. On October 8, 2021, we entered into an amendment to the 2021 Credit Facilities (the “Credit Facility Amendment”) to, among other things: (1) increase the aggregate commitments under the 2021 Revolving Credit Facility to the lesser of $350.0 million (which may be increased at the Company’s option up to $400.0 million upon satisfaction of certain conditions) and the applicable revolving borrowing base, and the 2021 Floor Plan Facilities to $2.6 billion (which, under certain conditions, may be increased at the Company’s option up to $2.85 billion that may be allocated between the new vehicle revolving floor plan facility and the used vehicle revolving floor plan facility that comprise the 2021 Floor Plan Facilities as the Company requests, with no more than 40% of the aggregate commitments allocated to the commitments under the used vehicle revolving floor plan facility); and (2) permit the issuance of the 4.625% Notes and the 4.875% Notes. As amended, availability under the 2021 Revolving Credit Facility is calculated as the lesser of $350.0 million or a borrowing base calculated based on certain eligible assets, less the aggregate face amount of any outstanding letters of credit under the 2021 Revolving Credit Facility (the “2021 Revolving Borrowing Base”). The 2021 Revolving Credit Facility may be increased at our option up to $400.0 million upon satisfaction of certain conditions. As of June 30, 2022, the 2021 Revolving Borrowing Base was approximately $281.8 million based on balances as of such date. As of June 30, 2022, we had no outstanding borrowings and approximately $12.5 million in outstanding letters of credit under the 2021 Revolving Credit Facility, resulting in $269.3 million remaining borrowing availability under the 2021 Revolving Credit Facility. Our obligations under the 2021 Credit Facilities are guaranteed by us and certain of our subsidiaries and are secured by a pledge of substantially all of our and our subsidiaries’ assets. As of the dates presented in the accompanying unaudited condensed consolidated financial statements, the amounts outstanding under the 2021 Credit Facilities bear interest at variable rates based on specified percentages above LIBOR. We have agreed under the 2021 Credit Facilities not to pledge any assets to any third parties (other than those explicitly allowed to be pledged by the amended terms of the 2021 Credit Facilities), including other lenders, subject to certain stated exceptions, including floor plan financing arrangements. In addition, the 2021 Credit Facilities contain certain negative covenants, including certain covenants which could restrict or prohibit indebtedness, liens, the payment of dividends and other restricted payments, capital expenditures and material dispositions and acquisitions of assets, as well as other customary covenants and default provisions. Specifically, the 2021 Credit Facilities permit quarterly
6.125 Note Text Block [Text Block]	On October 27, 2021, we issued $650.0 million in aggregate principal amount of 4.625% Notes, which will mature on November 15, 2029. Sonic used the net proceeds from the issuance of the 4.625% Notes to fund the RFJ Acquisition and to repay existing debt. The 4.625% Notes were issued under an Indenture, dated as of October 27, 2021 (the “2029 Indenture”), by and among the Company, certain subsidiary guarantors named therein (collectively, the “Guarantors”) and U.S. Bank National Association, as trustee (the “trustee”). The 4.625% Notes are unconditionally guaranteed, jointly and severally, on a senior unsecured basis initially by all of the Company’s operating domestic subsidiaries. The non-domestic operating subsidiary that is not a guarantor is considered minor. Under certain circumstances set forth in the 2029 Indenture, the guarantees of the certain subsidiaries of the Company comprising the EchoPark Business (as defined in the 2029 Indenture) may be released. The 2029 Indenture also provides substantial flexibility for the Company to enter into fundamental transactions involving the EchoPark Business. The 2029 Indenture provides that interest on the 4.625% Notes will be payable semi-annually in arrears on May 15 and November 15 of each year beginning May 15, 2022. The 2029 Indenture also contains other restrictive covenants and default provisions common for an issue of senior notes of this nature. The 4.625% Notes are redeemable by the Company under certain circumstances. For further discussion of the 4.625% Notes, see Note 6, “Long-Term Debt,” to the consolidated financial statements in Sonic’s Annual Report on Form 10-K for the year ended December 31, 2021. 4.875% Notes On October 27, 2021, we issued $500.0 million in aggregate principal amount of 4.875% Notes, which will mature on November 15, 2031. Sonic used the net proceeds from the issuance of the 4.875% Notes to fund the RFJ Acquisition and to repay existing debt. The 4.875% Notes were issued under an Indenture, dated as of October 27, 2021 (the “2031 Indenture”), by and among the Company, the Guarantors and the trustee. The 4.875% Notes are unconditionally guaranteed, jointly and severally, on a senior unsecured basis initially by all of the Company’s operating domestic subsidiaries. The non-domestic operating subsidiary that is not a guarantor is considered minor. Under certain circumstances set forth in the 2031 Indenture, the guarantees of the certain subsidiaries of the Company comprising the EchoPark Business (as defined in the 2031 Indenture) may be released. The 2031 Indenture also provides substantial flexibility for the Company to enter into fundamental transactions involving the Echo-Park Business. The 2031 Indenture provides that interest on the 4.875% Notes will be payable semi-annually in arrears on May 15 and November 15 of each year beginning May 15, 2022. The 2031 Indenture also contains other restrictive covenants and default provisions common for an issue of senior notes of this nature. The 4.875% Notes are redeemable by the Company under certain circumstances. For further discussion of the 4.875% Notes, see Note 6, “Long-Term Debt,” to the consolidated financial statements in Sonic’s Annual Report on Form 10-K for the year ended December 31, 2021.
2019 Mortgage Facility Text Block [Text Block]	2019 Mortgage Facility On November 22, 2019, we entered into a delayed draw-term loan credit agreement, which is scheduled to mature on November 22, 2024 (the “2019 Mortgage Facility”). On October 11, 2021, we entered into an amendment to the 2019 Mortgage Facility to permit the issuance of the 4.625% Notes and the 4.875% Notes. Under the 2019 Mortgage Facility, Sonic has a maximum borrowing limit of $112.2 million, which varies based on the appraised value of the collateral underlying the 2019 Mortgage Facility. The amount available for borrowing under the 2019 Mortgage Facility is subject to compliance with a borrowing base. The borrowing base is calculated based on 75% of the appraised value of certain eligible real estate designated by Sonic and owned by certain of our subsidiaries. Based on balances as of June 30, 2022, we had approximately $84.5 million of outstanding borrowings under the 2019 Mortgage Facility, resulting in total remaining borrowing availability of approximately $27.7 million under the 2019 Mortgage Facility. Amounts outstanding under the 2019 Mortgage Facility bear interest at (1) a specified rate above LIBOR (as defined in the 2019 Mortgage Facility), ranging from 1.50% to 2.75% per annum according to a performance-based pricing grid determined by the Company’s Consolidated Total Lease Adjusted Leverage Ratio (as defined in the 2019 Mortgage Facility) as of the last day of the immediately preceding fiscal quarter (the “Performance Grid”); or (2) a specified rate above the Base Rate (as defined in the 2019 Mortgage Facility), ranging from 0.50% to 1.75% per annum according to the Performance Grid.
Mortgage Notes Text Block [Text Block]	Mortgage Notes to Finance Companies As of June 30, 2022, the weighted-average interest rate of our other outstanding mortgage notes (excluding the 2019 Mortgage Facility) was 4.14% and the total outstanding mortgage principal balance of these notes (excluding the 2019 Mortgage Facility) was approximately $326.8 million. These mortgage notes require monthly payments of principal and interest through their respective maturities, are secured by the underlying properties and contain certain cross-default provisions. Maturity dates for these mortgage notes range between 2022 and 2033.
2020 Line of Credit Text Block [Text Block]

Per Share Data and Stockholders

Per Share Data and Stockholders' Equity	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Per Share Data and Stockholders' Equity	Earnings Per Share –

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments Contingencies and Guarantees	Commitments and Contingencies Guarantees and Indemnifications In accordance with the terms of our operating lease agreements, our 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, we have 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 our subsidiaries have assigned or sublet to the buyer their interests in real property leases associated with such dealerships. 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 the 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 our dealerships, we generally agree 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 our exposure with respect to environmental remediation and repairs is difficult to quantify, we did not have any remaining exposure as of June 30, 2022 and had exposure of $4.0 million at December 31, 2021. These indemnifications typically expire within a period of one We also guarantee the floor plan commitments of our 50%-owned joint venture, and the amount of such guarantee at both June 30, 2022 and December 31, 2021 was approximately $4.3 million. Legal Matters 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 June 30, 2022 were approximately $1.6 million and $0.3 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, 2021 were approximately $1.5 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.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	8. Fair Value Measurements Assets and liabilities recorded at fair value in the accompanying unaudited condensed consolidated balance sheets as of June 30, 2022 and December 31, 2021 were as follows: Fair Value Based on Significant Other Observable Inputs (Level 2) June 30, 2022 December 31, 2021 (In millions) Assets: Cash surrender value of life insurance policies (1) $ 37.2 $ 39.5 Total assets $ 37.2 $ 39.5 Liabilities: Deferred compensation plan (2) $ 22.2 $ 24.4 Total liabilities $ 22.2 $ 24.4 (1) Included in other assets in the accompanying unaudited condensed consolidated balance sheets. (2) Included in other long-term liabilities in the accompanying unaudited condensed consolidated balance sheets. There were no instances during the six months ended June 30, 2022 which required a fair value measurement of assets ordinarily measured at fair value on a non-recurring basis. These assets will be evaluated as of the annual valuation assessment date of October 1, 2022 or as events or changes in circumstances require. As of June 30, 2022 and December 31, 2021, 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. As of June 30, 2022 and December 31, 2021, the fair value and carrying value of Sonic’s significant fixed rate long-term debt were as follows: June 30, 2022 December 31, 2021 Fair Value Carrying Value Fair Value Carrying Value (In millions) 4.875% Notes (1) $ 376.3 $ 500.0 $ 504.8 $ 500.0 4.625% Notes (1) $ 503.8 $ 650.0 $ 655.9 $ 650.0 (1) As determined by market quotations from similar securities as of June 30, 2022 and December 31, 2021, respectively (Level 2). For further discussion of Sonic’s fair value measurements, see Note 11, “Fair Value Measurements,” to the consolidated financial statements in Sonic’s Annual Report on Form 10-K for the year ended December 31, 2021.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss)For further discussion of Sonic’s accumulated other comprehensive income (loss), see Note 13, “Accumulated Other Comprehensive Income (Loss),” to the consolidated financial statements in Sonic’s Annual Report on Form 10-K for the year ended December 31, 2021. 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, 2021.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Segment Information	9. Segment Information As of June 30, 2022, Sonic had two operating segments: (1) retail automotive franchises that sell new vehicles and buy and sell used vehicles, sell replacement parts, perform vehicle maintenance, warranty and repair services, and arrange finance and insurance products (the “Franchised Dealerships Segment”); and (2) pre-owned vehicle specialty retail locations that provide guests an opportunity to search our nationwide inventory, purchase a pre-owned vehicle, select finance and insurance products and sell their current vehicle to us (the “EchoPark Segment”). Sonic has determined that its operating segments also represent its reportable segments. The reportable segments identified above are the business activities of Sonic for which discrete financial information is available and for which operating results are regularly reviewed by Sonic ’ s chief operating decision maker to assess operating performance and allocate resources. Sonic’s chief operating decision maker is a group of three individuals consisting of: (1) the Company’s Chief Executive Officer; (2) the Company’s President; and (3) the Company’s Chief Financial Officer. Reportable segment financial information for the three and six months ended June 30, 2022 and 2021 were as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (In millions) Revenues: Franchised Dealerships Segment revenues: Retail new vehicles $ 1,341.7 $ 1,452.3 $ 2,687.4 $ 2,586.3 Fleet new vehicles 166.5 9.7 315.0 32.0 Total new vehicles $ 1,508.2 $ 1,462.0 $ 3,002.4 $ 2,618.3 Used vehicles 871.9 761.5 1,725.7 1,423.1 Wholesale vehicles 79.2 63.0 185.5 119.1 Parts, service and collision repair 398.1 346.1 778.7 654.2 Finance, insurance and other, net 129.8 124.0 256.2 221.6 Franchised Dealerships Segment revenues $ 2,987.2 $ 2,756.6 $ 5,948.5 $ 5,036.3 EchoPark Segment revenues: Retail new vehicles $ 2.5 $ 0.9 $ 8.2 $ 0.9 Used vehicles 577.5 519.7 1,094.5 961.0 Wholesale vehicles 42.2 21.8 104.7 40.5 Finance, insurance and other, net 43.4 53.2 83.5 100.3 EchoPark Segment revenues $ 665.6 $ 595.6 $ 1,290.9 $ 1,102.7 Total consolidated revenues $ 3,652.8 $ 3,352.2 $ 7,239.4 $ 6,139.0 Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (In millions) Income (Loss) (1): Franchised Dealerships Segment $ 162.1 $ 165.4 $ 326.0 $ 236.0 EchoPark Segment (34.9) (14.4) (69.9) (12.4) Income from continuing operations before taxes $ 127.2 $ 151.0 $ 256.1 $ 223.6 (1) Segment income (loss) for each segment is defined as income (loss) from continuing operations before taxes and impairment charges. Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (In millions) Depreciation and Amortization: Franchised Dealerships Segment $ 25.3 $ 20.6 $ 50.1 $ 41.0 EchoPark Segment 5.9 4.2 11.0 7.4 Total depreciation and amortization $ 31.2 $ 24.8 $ 61.1 $ 48.4 Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (In millions) Floor Plan Interest Expense: Franchised Dealerships Segment $ 3.9 $ 3.2 $ 7.2 $ 7.3 EchoPark Segment 2.2 1.1 3.9 2.1 Total floor plan interest expense $ 6.1 $ 4.3 $ 11.1 $ 9.4 Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (In millions) Interest Expense, Other, Net: Franchised Dealerships Segment $ 20.2 $ 9.7 $ 40.3 $ 19.7 EchoPark Segment 1.1 0.4 1.8 0.7 Total interest expense, other, net $ 21.3 $ 10.1 $ 42.1 $ 20.4 Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (In millions) Capital Expenditures: Franchised Dealerships Segment $ 21.9 $ 25.5 $ 52.0 $ 71.7 EchoPark Segment 19.7 11.9 48.4 33.4 Total capital expenditures $ 41.6 $ 37.4 $ 100.4 $ 105.1 June 30, 2022 December 31, 2021 (In millions) Assets: Franchised Dealerships Segment $ 4,031.9 $ 3,934.9 EchoPark Segment 664.5 740.6 Corporate and other: Cash and cash equivalents 327.1 299.4 Other corporate assets — 0.2 Total assets $ 5,023.5 $ 4,975.1

Business Combinations

Business Combinations	6 Months Ended
	Jun. 30, 2022
Business Combinations [Abstract]
Business Acquisitions and Dispositions	2. Business Acquisitions and Dispositions We acquired one franchised dealership location during the six months ended June 30, 2022 for an aggregate gross purchase price (including inventory acquired and subsequently funded by floor plan notes payable) of approximately $20.9 million, including a $14.7 million impact of a post-close adjustment related to the acquisition of RFJ Auto Partners, Inc. completed in December 2021. The allocation of the roughly $6.2 million aggregate gross purchase price for the acquisition completed during the six months ended June 30, 2022 included inventory of approximately $3.1 million, property and equipment of approximately $0.1 million, franchise assets of approximately $2.5 million, and goodwill of approximately $0.5 million. We acquired two businesses to be included in our EchoPark segment during the six months ended June 30, 2021 for an aggregate gross purchase price (including inventory acquired and subsequently funded by floor plan notes payable) of approximately $28.6 million. We did not dispose of any businesses during the six months ended June 30, 2022. During the six months ended June 30, 2021, we disposed of one luxury franchised dealership, which generated net cash from dispositions of approximately $3.8 million.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	10. Subsequent EventsSubsequent to June 30, 2022, Sonic’s Board of Directors increased the Company’s share repurchase authorization by $500.0 million, resulting in current remaining availability of approximately $633.1 million

Summary of Significant Accounti

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
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 and six months ended June 30, 2022 and 2021 are unaudited and have been prepared in accordance with accounting principles generally accepted in the United States (the “U.S.”) (“GAAP”) for interim financial information and applicable rules and regulations of the U.S. 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 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, 2021.
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. 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 obligations are satisfied when the associated vehicle is either delivered to a customer and customer acceptance has occurred, over time as the maintenance and repair services are performed, or at the time of wholesale and retail parts sales. 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). Retrospective finance and insurance revenues (“F&I retro revenues”) are recognized when the product contract has been executed with the end customer and the transaction price is estimated each reporting period based on the expected value method using historical and projected data. 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, as 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 it being probable that the proceeds from the sale will be collected.
Per Share Data and Stockholders' Equity	Earnings Per Share –

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Unusual Risks and Uncertainties	COVID-19 – The COVID-19 pandemic negatively impacted the global economy beginning in the first quarter of 2020 and continues to affect the global economy and supply chain. The impact on the economy has affected both consumer demand and the supply of manufactured goods, both of which continue to impact our business. The global automotive supply chain has been significantly disrupted since the onset of the pandemic, primarily related to the production of semiconductors and other components that are used in many modern automobiles, in addition to workforce-related production delays and stoppages. As a result, automobile manufacturing has operated for multiple years at lower than usual production levels, reducing the amount of new vehicle inventory and certain parts inventory available to our dealerships. These inventory constraints, coupled with strong consumer demand and elevated levels of consumer savings, have led to low new and used vehicle inventory and a high new and used vehicle pricing environment, which drove retail new vehicle unit sales volumes lower across the industry. All of our store operations were impacted by the COVID-19 pandemic to varying degrees. State and local governmental restrictions on consumer and business activity may be tightened again if conditions related to the pandemic worsen as a result of future coronavirus variants. Recent Accounting Pronouncements – In March 2020, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2020-04, “Reference Rate Reform (Accounting Standards Codification (“ASC”) Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” ASU 2020-04 provides optional guidance for a limited period of time to ease the potential accounting impact associated with transitioning away from reference rates that are expected to be discontinued, such as the London InterBank Offered Rate (“LIBOR”). The amendments in this ASU apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued. The amendments in ASU 2020-04 could be adopted beginning January 1, 2020 and are effective through December 31, 2022. In January 2021, the FASB issued ASU 2021-01, which clarifies that certain optional expedients and exceptions in ASC Topic 848 for contract modifications and hedge accounting apply to derivatives that are affected by the discounting transition. We do not currently have any contracts that have been modified, amended or renegotiated to accommodate a transition to a new reference rate, but we will continue to evaluate any such modifications or amendments to our contracts to determine the applicability of this standard on our consolidated financial statements and related financial statement disclosures.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Components of Inventories	Inventories consist of the following: June 30, 2022 December 31, 2021 (In millions) New vehicles $ 321.5 $ 273.1 Used vehicles 719.8 807.2 Service loaners 118.8 106.3 Parts, accessories and other 80.3 74.6 Net inventories $ 1,240.4 $ 1,261.2

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Components of Property and Equipment, Net	Property and equipment, net consists of the following: June 30, 2022 December 31, 2021 (In millions) Land $ 451.2 $ 447.4 Buildings and improvements 1,319.5 1,240.5 Furniture, fixtures and equipment 485.0 451.2 Construction in progress 37.9 68.1 Total, at cost 2,293.6 2,207.2 Less accumulated depreciation (796.4) (746.2) Subtotal 1,497.2 1,461.0 Less assets held for sale (1) (5.6) (2.2) Property and equipment, net $ 1,491.6 $ 1,458.8 (1) Classified in other current assets in the accompanying unaudited condensed consolidated balance sheets.

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Instrument [Line Items]
Long-Term Debt	Long-term debt consists of the following: June 30, 2022 December 31, 2021 (In millions) 2021 Revolving Credit Facility (1) $ — $ — 4.625% Senior Notes due 2029 (the “4.625% Notes”) 650.0 650.0 4.875% Senior Notes due 2031 (the “4.875% Notes”) 500.0 500.0 2019 Mortgage Facility (2) 84.5 90.0 Mortgage notes to finance companies - fixed rate, bearing interest from 2.05% to 7.03% 198.5 213.4 Mortgage notes to finance companies - variable rate, bearing interest at 1.50 to 2.90 percentage points above one-month or three-month LIBOR 128.3 132.8 Subtotal $ 1,561.3 $ 1,586.2 Debt issuance costs (22.8) (24.9) Total debt 1,538.5 1,561.3 Less current maturities (76.5) (50.6) Long-term debt $ 1,462.0 $ 1,510.7 (1) The interest rate on the 2021 Revolving Credit Facility (as defined below) was 100 basis points above LIBOR at both June 30, 2022 and December 31, 2021. (2) The interest rate on the 2019 Mortgage Facility (as defined below) was 150 basis points above LIBOR at both June 30, 2022 and December 31, 2021.
Financial Covenants Include Required Specified Ratios	Covenants We have agreed under the 2021 Credit Facilities and the 2019 Mortgage Facility not to pledge any assets to any third parties (other than those explicitly allowed to be pledged by the amended terms of the 2021 Credit Facilities and the 2019 Mortgage Facility), including other lenders, subject to certain stated exceptions, including floor plan financing arrangements. In addition, the 2021 Credit Facilities and the 2019 Mortgage Facility contain certain negative covenants, including certain covenants which could restrict or prohibit indebtedness, liens, the payment of dividends and other restricted payments, capital expenditures and material dispositions and acquisitions of assets, as well as other customary covenants and default provisions. We were in compliance with the financial covenants under the 2021 Credit Facilities and the 2019 Mortgage Facility as of June 30, 2022. Financial covenants include required specified ratios (as each is defined in the 2021 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 June 30, 2022 actual 1.27 2.62 2.17 The 2021 Credit Facilities and the 2019 Mortgage Facility contain events of default, including cross defaults to other material indebtedness, change of control events and other events of default customary for syndicated commercial credit facilities. Upon the future occurrence of an event of default, we could be required to immediately repay all outstanding amounts under the 2021 Credit Facilities and the 2019 Mortgage Facility. After giving effect to the applicable restrictions on the payment of dividends under our debt agreements, as of June 30, 2022, we had approximately $367.6 million of net income and retained earnings free of such restrictions. We were in compliance with all restrictive covenants under our debt agreements as of June 30, 2022. In addition, many of our facility leases are governed by a guarantee agreement between the landlord and us that contains financial and operating covenants. The financial covenants under the guarantee agreement are identical to those under the 2021 Credit Facilities and the 2019 Mortgage Facility with the exception of one additional financial covenant related to the ratio of EBTDAR to Rent (as defined in the guarantee agreement) with a required ratio of no less than 1.50 to 1.00. As of June 30, 2022, the ratio was 13.03 to 1.00.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2022
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 June 30, 2022 and December 31, 2021 were as follows: Fair Value Based on Significant Other Observable Inputs (Level 2) June 30, 2022 December 31, 2021 (In millions) Assets: Cash surrender value of life insurance policies (1) $ 37.2 $ 39.5 Total assets $ 37.2 $ 39.5 Liabilities: Deferred compensation plan (2) $ 22.2 $ 24.4 Total liabilities $ 22.2 $ 24.4 (1) Included in other assets in the accompanying unaudited condensed consolidated balance sheets. (2) 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	As of June 30, 2022 and December 31, 2021, the fair value and carrying value of Sonic’s significant fixed rate long-term debt were as follows: June 30, 2022 December 31, 2021 Fair Value Carrying Value Fair Value Carrying Value (In millions) 4.875% Notes (1) $ 376.3 $ 500.0 $ 504.8 $ 500.0 4.625% Notes (1) $ 503.8 $ 650.0 $ 655.9 $ 650.0 (1) As determined by market quotations from similar securities as of June 30, 2022 and December 31, 2021, respectively (Level 2).

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Summary of Changes in Accumulated Other Comprehensive Income (Loss)	For further discussion of Sonic’s accumulated other comprehensive income (loss), see Note 13, “Accumulated Other Comprehensive Income (Loss),” to the consolidated financial statements in Sonic’s Annual Report on Form 10-K for the year ended December 31, 2021. 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, 2021.

Leases, Codification Topic 842

Leases, Codification Topic 842 (Tables) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Lease, Cost [Abstract]
Finance Lease, Principal Payments	$ 3,100	$ 2,100
Leases [Abstract]
Finance Lease, Right-of-Use Asset, after Accumulated Amortization	211,400		$ 179,900
Operating Lease, Liability, Current	36,400		36,200
Finance Lease, Liability, Current	54,200		52,700
Operating Lease, Liability, Noncurrent	247,300		264,800
Finance Lease, Liability, Noncurrent	$ 168,600		$ 135,500

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Cumulative Effect of Adjustments for Adoption of ASC 606 (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Revenues:
Revenues	$ 3,652,800,000	$ 3,352,200,000	$ 7,239,400,000	$ 6,139,000,000
Cost of Sales:
Cost of Sales	(3,064,000,000)	(2,841,400,000)	(6,079,300,000)	(5,227,300,000)
Operating income (loss)	154,800,000	165,400,000	309,200,000	253,300,000
Assets:
Receivables, net	345,900,000		345,900,000		$ 401,100,000
Liabilities:
Other accrued liabilities	350,200,000		350,200,000		350,500,000
Stockholders' Equity:
Retained Earnings (Accumulated Deficit)	1,223,500,000		1,223,500,000		1,051,700,000
Parts, service and collision repair
Revenues:
Revenues	398,100,000	346,100,000	778,700,000	654,200,000
Cost of Sales:
Cost of Sales	(200,000,000)	(170,500,000)	(393,900,000)	(323,400,000)
Finance, insurance and other, net
Revenues:
Revenues	173,200,000	$ 177,200,000	339,700,000	$ 321,900,000
ASU 2014-09 | Finance, insurance and other, net
Assets:
Contract assets	$ 27,600,000		$ 27,600,000		$ 34,900,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Finance Lease, Right-of-Use Asset, after Accumulated Amortization	$ 211,400	$ 179,900
Intangible assets	486,600	480,200
Right-of-use asset	$ 276,500	$ 293,200

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Activity (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Finance Lease, Right-of-Use Asset, after Accumulated Amortization	$ 211,400	$ 179,900
Operating Lease, Right-of-Use Asset	$ 276,500	$ 293,200

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Percentage of dealership that is accounted for under the equity method	50%		50%
Effective tax rate from continuing operations	25.50%	24.50%
Income benefit	$ (32,400)	$ (37,000)	$ (64,000)	$ (55,900)
Dealership
Schedule of Equity Method Investments [Line Items]
Percentage of dealership that is accounted for under the equity method	50%		50%
ASU 2014-09 | Finance, insurance and other, net
Schedule of Equity Method Investments [Line Items]
Contract assets	$ 27,600		$ 27,600		$ 34,900

Business Acquisitions and Dis_2

Business Acquisitions and Dispositions - Additional Information (Details)	3 Months Ended	6 Months Ended
	Jun. 30, 2022 USD ($) Business	Jun. 30, 2022 USD ($) Business retail_Units	Jun. 30, 2021 Business	Jun. 30, 2021 retail_Units	Jun. 30, 2021 USD ($)
Business Combinations [Abstract]
Number of acquired franchises | Business	2
Business Acquisition [Line Items]
Number of franchises disposed		0	0	1
Net cash generated from disposition		$ 0
Proceeds from sales of dealerships		0			$ 3,800,000
Number of acquired franchises | Business	2
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Inventory		4,300,000
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Intangibles		1,100,000
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Consideration Transferred		14,700,000
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Assets		3,400,000
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Liabilities		$ 5,900,000
Mid-line import franchise
Business Acquisition [Line Items]
Net cash generated from disposition					$ 3,800,000
EchoPark Segment [Member]
Business Combinations [Abstract]
Number of acquired franchises | Business		0
Business Acquisition [Line Items]
Number of acquired franchises | Business		0
Stand-alone pre-owned vehicle business
Business Acquisition [Line Items]
Business acquisition, consideration amount	$ 20,900,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory	3,100,000	$ 3,100,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	100,000	100,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 2,500,000	$ 2,500,000
Franchised [Member]
Business Combinations [Abstract]
Number of acquired franchises | Business		1
Business Acquisition [Line Items]
Number of acquired franchises | Business		1

Business Acquisitions and Dis_3

Business Acquisitions and Dispositions - Revenues and Other Activities Associated with Disposed Dealerships Classified as Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Pre-tax income (loss)	$ 0	$ (200)	$ 0	$ 500

Inventories - Components of Inv

Inventories - Components of Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
New vehicles	$ 321,500	$ 273,100
Used vehicles	719,800	807,200
Service loaners	118,800	106,300
Parts, accessories and other	80,300	74,600
Net inventories	$ 1,240,400	$ 1,261,200

Property and Equipment - Compon

Property and Equipment - Components of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Less accumulated depreciation	$ (796,400)	$ (746,200)
Subtotal	1,497,200	1,461,000
Less assets held for sale	(5,600)	(2,200)
Property and equipment, net	1,491,600	1,458,800
Land
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	451,200	447,400
Building and improvements
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	1,319,500	1,240,500
Furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	485,000	451,200
Construction in progress
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	37,900	68,100
Property, Plant and Equipment, Net, Excluding Capital Leased Assets
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 2,293,600	$ 2,207,200

Property and Equipment - Additi

Property and Equipment - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Capital expenditures	$ 41,600	$ 37,400	$ 100,400	$ 105,100
Impairment of Long-Lived Assets to be Disposed of			0
Property, Plant and Equipment [Line Items]
Impairment of Long-Lived Assets to be Disposed of			$ 0

Goodwill and Intangible Assets

Goodwill and Intangible Assets - Additional Information (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 423,500	$ 416,400
Net of accumulated impairment losses	1,100,000	1,100,000
Goodwill - Franchise Segment	219,800	213,500
Goodwill - Preowned Segment	203,700	202,900
Finite-Lived Intangible Assets [Line Items]
Goodwill	423,500	416,400
Goodwill [Line Items]
Goodwill - Preowned Segment	203,700	202,900
Net of accumulated impairment losses	1,100,000	1,100,000
Franchise assets
Finite-Lived Intangible Assets [Line Items]
Franchise assets	$ 486,600	$ 480,200

Long-Term Debt - Long-Term Debt

Long-Term Debt - Long-Term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Oct. 13, 2021
Debt Instrument [Line Items]
Subtotal	$ 1,561,300	$ 1,586,200
Debt issuance costs	(22,800)	(24,900)
Total debt	1,538,500	1,561,300
Less current maturities	(76,500)	(50,600)
Long-term debt	1,462,000	1,510,700
Mortgage notes
Debt Instrument [Line Items]
Mortgage notes to finance companies - fixed rate, bearing interest from 3.51% to 7.03%	198,500	213,400
Mortgage notes to finance companies - variable rate, bearing interest at 1.50 to 2.90 percentage points above one-month or three-month LIBOR	128,300	132,800
Subtotal	$ 326,800
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%
TwoThousandSixteenRevolvingCreditFacilityMember
Debt Instrument [Line Items]
2016 Revolving Credit Facility	$ 0	$ 0
Interest rate	2.50%	2.25%
5.0% Senior Subordinate Notes due 2023
Debt Instrument [Line Items]
Stated interest rate	5%
6.125% Senior Subordinate Notes due 2027
Debt Instrument [Line Items]
Stated interest rate	6.125%		6.125%
2019 Mortgage Facility [Member]
Debt Instrument [Line Items]
Senior Subordinated Notes	$ 84,500	$ 90,000
4.625% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Subordinated Notes	650,000	650,000
4.875% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Subordinated Notes	500,000	500,000
Total debt	$ 500,000	$ 500,000
Stated interest rate	4.875%

Long-Term Debt - 2016 Credit Fa

Long-Term Debt - 2016 Credit Facilities (Details) - USD ($)	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
TwoThousandSixteenRevolvingCreditFacilityMember
Line of Credit Facility [Line Items]
2016 Revolving Credit Facility	$ 0	$ 0
Revolving Credit Facility | Two Thousand Twenty Vehicle Floor Plan Facility
Line of Credit Facility [Line Items]
Current borrowing capacity	2,600,000,000
Maximum borrowing capacity	$ 2,850,000,000
Maximum aggregate commitments allocated to commitments under the 2016 Used Vehicle Floor Plan Facility	40%
Revolving Credit Facility | TwoThousandTwentyRevolvingCreditFacility
Line of Credit Facility [Line Items]
Current borrowing capacity	$ 350,000,000
Maximum borrowing capacity	400,000,000
Borrowing base	281,800,000
2016 Revolving Credit Facility	0
Letters of credit outstanding amount	12,500,000
Borrowing availability amount	$ 269,300,000
Maximum dividend (usd per share)	$ 0.25

Long-Term Debt - Notes Narrativ

Long-Term Debt - Notes Narrative (Details) - USD ($)	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021	Oct. 13, 2021
Debt Instrument [Line Items]
Debt outstanding	$ 1,561,300,000	$ 1,586,200,000
Maximum Borrowing 2019 Mortgage Facility	$ 112,200,000
Mortgage notes
Debt Instrument [Line Items]
Debt weighted average interest rate on note	4.14%
Debt outstanding	$ 326,800,000
5.0% Notes
Debt Instrument [Line Items]
Stated interest rate	5%
6.125% Notes
Debt Instrument [Line Items]
Stated interest rate	6.125%		6.125%
Principal amount			$ 250,000,000
2019 Mortgage Facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Unused Borrowing Capacity, Amount	$ 27,700,000
Percent of Collateralized Real Estate	75%
4.875% Senior Notes [Member]
Debt Instrument [Line Items]
Stated interest rate	4.875%
4.625% Notes [Member]
Debt Instrument [Line Items]
Stated interest rate	4.625%
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	Jun. 30, 2022 USD ($)
Line of Credit Facility [Line Items]
Minimum Consolidated Liquidity Ratio	127%
Minimum Consolidated Fixed Charge Coverage Ratio	262%
Maximum Consolidated Total Lease Adjusted Leverage Ratio	217%
2016 Credit Facilities
Line of Credit Facility [Line Items]
Net income and retained earnings free of restrictions	$ 367.6
Minimum EBTDAR to rent ratio	1,303%
Required ratio
Line of Credit Facility [Line Items]
Minimum Consolidated Liquidity Ratio	105%
Minimum Consolidated Fixed Charge Coverage Ratio	120%
Maximum Consolidated Total Lease Adjusted Leverage Ratio	575%
Required ratio | 2016 Credit Facilities
Line of Credit Facility [Line Items]
Minimum EBTDAR to rent ratio	150%

Long-Term Debt (Details)

Long-Term Debt (Details) - TwoThousandTwentyRevolvingCreditFacility - Revolving Credit Facility	Jun. 30, 2022 USD ($)
Line of Credit Facility [Line Items]
2016 Revolving Credit Facility	$ 0
Borrowing availability amount	$ 269,300,000

Per Share Data and Stockholde_2

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		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Weighted Average Shares
Weighted average common shares outstanding	39,500	41,600	40,000	41,600
Diluted earnings (loss) (shares)	40,500	43,400	41,200	43,500
From Continuing Operations
Earnings (loss)	$ 94,800	$ 114,000	$ 192,100	$ 167,700
Basic earnings (loss) per share (usd per share)	$ 2.40	$ 2.74	$ 4.81	$ 4.03
From Discontinued Operations
Earnings (loss)	$ 0	$ (200)	$ 0	$ 400
Basic earnings (loss) per share (usd per share)	$ 0	$ 0	$ 0	$ 0.01
Net Income (Loss)
Earnings (loss)	$ 94,800	$ 113,800	$ 192,100	$ 168,100
Basic earnings (loss) per share (usd per share)	$ 2.40	$ 2.74	$ 4.81	$ 4.04
Effect of dilutive securities:
Earnings (loss) per share from continuing operations (usd per share)	2.34	2.63	4.67	3.86
Earnings (loss) per share from discontinued operations (usd per share)	0	0	0	0.01
Earnings (loss) per common share (usd per share)	$ 2.34	$ 2.63	$ 4.67	$ 3.87

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Other Commitments [Line Items]
Maximum exposure associated with general indemnifications	$ 0	$ 4,000
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%
Other accrued liabilities
Other Commitments [Line Items]
Amount reserved for pending proceedings	$ 1,600
Other long-term liabilities
Other Commitments [Line Items]
Amount reserved for pending proceedings	$ 300	300
Accrued Liabilities
Other Commitments [Line Items]
Amount reserved for pending proceedings		$ 1,500

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Recorded at Fair Value (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Fair Value, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Tangible Asset Impairment Charges	$ 0
Fair Value Based on Significant Other Observable Inputs (Level 2)
Assets:
Cash surrender value of life insurance policies	37,200	$ 39,500
Total assets	37,200	39,500
Liabilities:
Deferred compensation plan	22,200	24,400
Total liabilities	$ 22,200	24,400
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	Jun. 30, 2022	Dec. 31, 2021	Oct. 13, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value	$ 1,538,500	$ 1,561,300
5.0% Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	5%
6.125% Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	6.125%		6.125%
4.875% Senior Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	$ 376,300	504,800
Carrying Value	$ 500,000	500,000
Stated interest rate	4.875%
4.625% Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	$ 503,800	655,900
Carrying Value	$ 650,000	$ 650,000
Stated interest rate	4.625%

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Summary of Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 1,135,000	$ 826,500	$ 1,076,400	$ 814,800
Other comprehensive income (loss)	300	400	500	600
Ending balance	1,170,000	946,400	1,170,000	946,400
Total Accumulated Other Comprehensive Income (Loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(1,100)	(3,400)	(1,300)	(3,600)
Other comprehensive income (loss)	300	400	500	600
Ending balance	$ (800)	$ (3,000)	$ (800)	$ (3,000)

Segment Information - Additiona

Segment Information - Additional Information (Details)	6 Months Ended
	Jun. 30, 2022 Segment
Segment Reporting [Abstract]
Number of operating segments	2

Segment Information - Summary o

Segment Information - Summary of Reportable Operating Segment (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Revenues:
Total consolidated revenues	$ 3,652,800,000	$ 3,352,200,000	$ 7,239,400,000	$ 6,139,000,000
Segment income (loss):
Segment income (loss)	154,800,000	165,400,000	309,200,000	253,300,000
Interest expense, other, net	(21,300,000)	(10,100,000)	(42,100,000)	(20,400,000)
Other income (expense), net	(200,000)	0	100,000	100,000
Income (loss) from continuing operations before taxes	127,200,000	151,000,000	256,100,000	223,600,000
Impairment of Long-Lived Assets to be Disposed of			0
Depreciation, Depletion and Amortization	31,200,000	24,800,000	61,100,000	48,400,000
FloorPlanInterestExpense	6,100,000	4,300,000	11,100,000	9,400,000
Interest Expense, Other	21,300,000	10,100,000	42,100,000	20,400,000
Payments to Acquire Property, Plant, and Equipment	41,600,000	37,400,000	100,400,000	105,100,000
Cash and cash equivalents	327,100,000	239,600,000	327,100,000	239,600,000	$ 299,400,000	$ 170,300,000
Other Assets	0	200,000	0	200,000
Assets	5,023,500,000		5,023,500,000		4,975,100,000
Franchised Dealerships Segment
Revenues:
Total consolidated revenues	2,987,200,000	2,756,600,000	5,948,500,000	5,036,300,000
Segment income (loss):
Interest expense, other, net	(20,200,000)	(9,700,000)	(40,300,000)	(19,700,000)
Depreciation, Depletion and Amortization	25,300,000	20,600,000	50,100,000	41,000,000
FloorPlanInterestExpense	3,900,000	3,200,000	7,200,000	7,300,000
Interest Expense, Other	20,200,000	9,700,000	40,300,000	19,700,000
Payments to Acquire Property, Plant, and Equipment	21,900,000	25,500,000	52,000,000	71,700,000
Assets	4,031,900,000		4,031,900,000		3,934,900,000
EchoPark Segment
Revenues:
Total consolidated revenues	665,600,000	595,600,000	1,290,900,000	1,102,700,000
Segment income (loss):
Interest expense, other, net	(1,100,000)	(400,000)	(1,800,000)	(700,000)
Depreciation, Depletion and Amortization	5,900,000	4,200,000	11,000,000	7,400,000
FloorPlanInterestExpense	2,200,000	1,100,000	3,900,000	2,100,000
Interest Expense, Other	1,100,000	400,000	1,800,000	700,000
Payments to Acquire Property, Plant, and Equipment	19,700,000	11,900,000	48,400,000	33,400,000
Assets	664,500,000		664,500,000		$ 740,600,000
Operating segments | Franchised Dealerships Segment
Segment income (loss):
Segment income (loss)	162,100,000	165,400,000	326,000,000	236,000,000
Operating segments | EchoPark Segment
Segment income (loss):
Segment income (loss)	(34,900,000)	(14,400,000)	(69,900,000)	(12,400,000)
Reconciling items
Segment income (loss):
Other income (expense), net	127,200,000	151,000,000	256,100,000	223,600,000
New vehicles
Revenues:
Total consolidated revenues	1,510,700,000	1,462,900,000	3,010,600,000	2,619,200,000
New vehicles | Franchised Dealerships Segment
Revenues:
Total consolidated revenues	1,508,200,000	1,462,000,000	3,002,400,000	2,618,300,000
Used vehicles
Revenues:
Total consolidated revenues	1,449,400,000	1,281,200,000	2,820,200,000	2,384,100,000
Used vehicles | Franchised Dealerships Segment
Revenues:
Total consolidated revenues	871,900,000	761,500,000	1,725,700,000	1,423,100,000
Used vehicles | EchoPark Segment
Revenues:
Total consolidated revenues	577,500,000	519,700,000	1,094,500,000	961,000,000
Wholesale vehicles
Revenues:
Total consolidated revenues	121,400,000	84,800,000	290,200,000	159,600,000
Wholesale vehicles | Franchised Dealerships Segment
Revenues:
Total consolidated revenues	79,200,000	63,000,000	185,500,000	119,100,000
Wholesale vehicles | EchoPark Segment
Revenues:
Total consolidated revenues	42,200,000	21,800,000	104,700,000	40,500,000
Parts, service and collision repair
Revenues:
Total consolidated revenues	398,100,000	346,100,000	778,700,000	654,200,000
Parts, service and collision repair | Franchised Dealerships Segment
Revenues:
Total consolidated revenues	398,100,000	346,100,000	778,700,000	654,200,000
Finance, insurance and other, net
Revenues:
Total consolidated revenues	173,200,000	177,200,000	339,700,000	321,900,000
Finance, insurance and other, net | Franchised Dealerships Segment
Revenues:
Total consolidated revenues	129,800,000	124,000,000	256,200,000	221,600,000
Finance, insurance and other, net | EchoPark Segment
Revenues:
Total consolidated revenues	43,400,000	53,200,000	83,500,000	100,300,000
NewVehiclesMember | EchoPark Segment
Revenues:
Total consolidated revenues	2,500,000	900,000	8,200,000	900,000
Retail New Vehicles [Member]
Revenues:
Total consolidated revenues	1,344,300,000	1,453,200,000	2,695,600,000	2,587,200,000
Retail New Vehicles [Member] | Franchised Dealerships Segment
Revenues:
Total consolidated revenues	1,341,700,000	1,452,300,000	2,687,400,000	2,586,300,000
Fleet New Vehicles [Member]
Revenues:
Total consolidated revenues	166,400,000	9,700,000	315,000,000	32,000,000
Fleet New Vehicles [Member] | Franchised Dealerships Segment
Revenues:
Total consolidated revenues	$ 166,500,000	$ 9,700,000	$ 315,000,000	$ 32,000,000

Leases, Codification Topic 84_2

Leases, Codification Topic 842 (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Leases [Abstract]
Finance Lease, Right-of-Use Asset, after Accumulated Amortization	$ 211,400	$ 179,900
Right-of-use asset	$ 276,500	$ 293,200

Business Combinations (Details)

Business Combinations (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2022 USD ($) Business	Jun. 30, 2022 USD ($) Business retail_Units	Jun. 30, 2021 Business	Jun. 30, 2021 retail_Units	Jun. 30, 2021 USD ($)
Business Combinations [Abstract]
Number of franchises disposed		0	0	1
Proceeds from sales of dealerships		$ 0			$ 3,800
Asset Acquisition [Line Items]
Number of acquired franchises | Business	2
Number of franchises disposed		0	0	1
RFJ
Asset Acquisition [Line Items]
Business acquisition, consideration amount	$ 964,900
Business acquisition, consideration amount	964,900
EchoPark Segment [Member]
Asset Acquisition [Line Items]
Number of acquired franchises | Business		0
Stand-alone pre-owned vehicle business
Asset Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory	3,100	$ 3,100
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	2,500	2,500
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	100	100
Goodwill, Acquired During Period		$ 500
Business acquisition, consideration amount	20,900
Business acquisition, consideration amount	20,900
Franchised [Member]
Asset Acquisition [Line Items]
Number of acquired franchises | Business		1
Franchised Dealerships Acquired
Asset Acquisition [Line Items]
Business acquisition, consideration amount	6,200
Business acquisition, consideration amount	$ 6,200

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	Jun. 30, 2022	Oct. 13, 2021
Subsequent Events [Abstract]
Stock Repurchase Program, Authorized Amount	$ 500,000,000
Subsequent Event [Line Items]
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 633,100,000
6.125% Notes
Subsequent Events [Abstract]
Principal amount		$ 250,000,000
Stated interest rate	6.125%	6.125%
Subsequent Event [Line Items]
Principal amount		$ 250,000,000
Stated interest rate	6.125%	6.125%