Sonic Automotive (SAH) 10-Q 27 Jul 23 2023 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2023	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, 2023
Document Fiscal Year Focus	2023
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		23,412,610
Class B common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		12,029,375

Details

Details	6 Months Ended
	Jun. 30, 2023
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, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenues:
Revenues	$ 3,652,900,000	$ 3,506,200,000	$ 7,144,100,000	$ 6,962,400,000
Cost of Sales:
Cost of Sales	(3,084,000,000)	(2,917,400,000)	(6,021,600,000)	(5,802,300,000)
Gross profit	568,900,000	588,800,000	1,122,500,000	1,160,100,000
Selling, general and administrative expenses	(391,900,000)	(402,800,000)	(804,700,000)	(789,800,000)
Impairment charges	(62,600,000)	0	(62,600,000)	0
Depreciation and amortization	(36,100,000)	(31,200,000)	(70,500,000)	(61,100,000)
Operating income (loss)	78,300,000	154,800,000	184,700,000	309,200,000
Other income (expense):
Interest expense, floor plan	(17,000,000)	(6,100,000)	(31,500,000)	(11,100,000)
Interest expense, other, net	(28,900,000)	(21,300,000)	(57,300,000)	(42,100,000)
Other income (expense), net	100,000	(200,000)	200,000	100,000
Total other income (expense)	(45,800,000)	(27,600,000)	(88,600,000)	(53,100,000)
Income (loss) from continuing operations before taxes	32,500,000	127,200,000	96,100,000	256,100,000
Provision for income taxes for continuing operations - benefit (expense)	(9,100,000)	(32,400,000)	(25,000,000)	(64,000,000)
Discontinued operations:
Net income (loss)	$ 23,400,000	$ 94,800,000	$ 71,100,000	$ 192,100,000
Basic earnings (loss) per common share:
Earnings (loss) per common share (usd per share)	$ 0.66	$ 2.40	$ 2	$ 4.81
Weighted average common shares outstanding	35,300	39,500	35,600	40,000
Diluted earnings (loss) per common share:
Earnings (loss) per common share (usd per share)	$ 0.65	$ 2.34	$ 1.95	$ 4.67
Weighted average common shares outstanding	36,000	40,500	36,500	41,200
Total vehicles
Revenues:
Revenues	$ 3,033,900,000	$ 2,933,800,000	$ 5,925,900,000	$ 5,842,200,000
Cost of Sales:
Cost of Sales	(2,860,700,000)	(2,716,800,000)	(5,580,700,000)	(5,407,400,000)
New vehicles
Revenues:
Revenues	1,636,500,000	1,364,100,000	3,098,100,000	2,733,600,000
Cost of Sales:
Cost of Sales	(1,493,800,000)	(1,194,900,000)	(2,816,500,000)	(2,395,800,000)
Used vehicles
Revenues:
Revenues	1,305,900,000	1,448,300,000	2,650,800,000	2,818,400,000
Cost of Sales:
Cost of Sales	(1,274,400,000)	(1,401,700,000)	(2,589,300,000)	(2,724,000,000)
Wholesale vehicles
Revenues:
Revenues	91,500,000	121,400,000	177,000,000	290,200,000
Cost of Sales:
Cost of Sales	(92,500,000)	(120,200,000)	(174,900,000)	(287,600,000)
Retail New Vehicles [Member]
Revenues:
Revenues	1,608,200,000	1,344,300,000	3,051,000,000	2,695,600,000
Cost of Sales:
Cost of Sales	(1,466,800,000)	(1,176,000,000)	(2,771,500,000)	(2,359,600,000)
Fleet New Vehicles [Member]
Revenues:
Revenues	28,300,000	19,800,000	47,100,000	38,000,000
Cost of Sales:
Cost of Sales	(27,000,000)	(18,900,000)	(45,000,000)	(36,200,000)
Parts, service and collision repair
Revenues:
Revenues	443,700,000	399,200,000	874,200,000	780,500,000
Cost of Sales:
Cost of Sales	(223,300,000)	(200,600,000)	(440,900,000)	(394,900,000)
Finance, insurance and other, net
Revenues:
Revenues	$ 175,300,000	$ 173,200,000	$ 344,000,000	$ 339,700,000

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 23,400	$ 94,800	$ 71,100	$ 192,100
Other comprehensive income (loss) before taxes:
Change in fair value of interest rate swap and interest rate cap agreements	1,300	400	1,200	700
Total other comprehensive income (loss) before taxes	1,300	400	1,200	700
Provision for income tax benefit (expense) related to components of other comprehensive income (loss)	(300)	(100)	(300)	(200)
Other comprehensive income (loss)	1,000	300	900	500
Comprehensive income (loss)	$ 24,400	$ 95,100	$ 72,000	$ 192,600

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current Assets:
Cash and cash equivalents	$ 119,700	$ 229,200
Receivables, net	400,600	462,400
Inventories	1,448,800	1,216,800
Other current assets	328,200	297,900
Total current assets	2,297,300	2,206,300
Property and Equipment, net	1,559,400	1,561,700
Goodwill	242,500	231,000
Other Intangible Assets, net	417,400	396,700
Right-of-use asset	203,600	260,700
Finance Lease, Right-of-Use Asset, after Accumulated Amortization	261,700	224,100
Other Assets	99,700	97,800
Total Assets	5,081,600	4,978,300
Current Liabilities:
Notes payable - floor plan - trade	124,400	114,900
Notes payable - floor plan - non-trade	1,285,600	1,112,700
Trade accounts payable	131,100	138,400
Operating Lease, Liability, Current	32,500	36,400
Finance Lease, Liability, Current	15,000	11,100
Other accrued liabilities	355,000	352,400
Current maturities of long-term debt	60,800	79,500
Total current liabilities	2,004,400	1,845,400
Long-Term Debt	1,629,500	1,672,200
Other Long-Term Liabilities	109,800	105,500
Operating Lease, Liability, Noncurrent	188,600	231,400
Finance Lease, Liability, Noncurrent	272,600	228,600
Commitments and Contingencies
Stockholders' Equity:
Class A convertible preferred stock, none issued	0	0
Paid-in capital	839,800	819,400
Retained Earnings (Accumulated Deficit)	1,151,200	1,100,300
Accumulated other comprehensive income (loss)	2,500	1,600
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	(1,117,600)	(1,026,900)
Total Stockholders' Equity	876,700	895,200
Total Liabilities and Stockholders' Equity	5,081,600	4,978,300
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, 2023	Dec. 31, 2022
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	68,422,889	67,574,922
Common stock, shares outstanding	23,407,137	24,204,324
Treasury stock, shares	45,015,752	43,370,598
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 Retained Earnings	Class A Common Stock Treasury Stock, Common	Class B Common Stock	Class B Common Stock Common Stock	Class B Common Stock Retained Earnings
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)					$ 0.57				$ 0.57
Tax effect on fair value of interest rate swap and rate cap agreements	300
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	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)					$ 0.29				$ 0.29
Retained Earnings (Accumulated Deficit)	1,100,300
Beginning balance at Dec. 31, 2022	895,200	819,400	1,100,300	1,600		$ 700		$ (1,026,900)		$ 100
Beginning balance (shares) at Dec. 31, 2022						67,600		43,400		12,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares awarded under stock compensation plan	10,000	10,000				$ 0
Shares awarded under stock compensation plan (shares)						800
Purchase of treasury stock	(90,700)							$ (90,700)
Purchases of treasury stock (shares)								(1,600)
Change in fair value of interest rate swap and interest rate cap agreements, net of tax expense of $1,563	900			900
Restricted stock amortization		10,400
Net income (loss)	71,100		71,100
Dividends, Common Stock					$ 13,300		13,300		$ 6,900		6,900
Ending balance at Jun. 30, 2023	876,700	839,800	1,151,200	2,500		$ 700		$ (1,117,600)		$ 100
Ending balance (shares) at Jun. 30, 2023						68,400		45,000		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		10,400
Tax effect on fair value of interest rate swap and rate cap agreements	200
Beginning balance at Mar. 31, 2023	854,800	832,000	1,138,100	1,500		$ 700		$ (1,117,600)		$ 100
Beginning balance (shares) at Mar. 31, 2023						68,300		45,000		12,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares awarded under stock compensation plan	2,400	2,400				$ 0
Shares awarded under stock compensation plan (shares)						100
Change in fair value of interest rate swap and interest rate cap agreements, net of tax expense of $1,563	1,000			1,000
Restricted stock amortization	5,400
Net income (loss)	23,400		23,400
Dividends, Common Stock					$ 6,800		$ 6,800		$ 3,500		$ 3,500
Ending balance at Jun. 30, 2023	876,700	839,800	$ 1,151,200	$ 2,500		$ 700		$ (1,117,600)		$ 100
Ending balance (shares) at Jun. 30, 2023						68,400		45,000		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		$ 5,400
Tax effect on fair value of interest rate swap and rate cap agreements	100
Retained Earnings (Accumulated Deficit)	$ 1,151,200

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Jun. 30, 2022
Statement of Stockholders' Equity [Abstract]
Tax effect on fair value of interest rate swap and rate cap agreements	$ 100	$ 200	$ 300

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ 71,100	$ 192,100
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization of property and equipment	61,300	55,200
Debt issuance cost amortization	3,200	2,300
Stock-based compensation expense	10,400	13,100
Deferred income taxes	(6,700)	(7,400)
Asset impairment charges	62,600	0
Loss (gain) on disposal of dealerships and property and equipment	(20,200)	(1,200)
Other	800	700
Changes in assets and liabilities that relate to operations:
Receivables	62,400	58,800
Inventories	(245,700)	29,800
Other assets	(16,200)	1,600
Notes payable - floor plan - trade	9,500	(12,300)
Trade accounts payable and other liabilities	(11,400)	(26,400)
Total adjustments	(90,000)	114,200
Net cash provided by (used in) operating activities	(18,900)	306,300
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of businesses, net of cash acquired	(75,100)	(28,400)
Purchases of land, property and equipment	(75,500)	(100,400)
Proceeds from sales of property and equipment	5,100	10,000
Proceeds from sales of dealerships	52,300	0
Net cash provided by (used in) investing activities	(93,200)	(118,800)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net (repayments) borrowings on notes payable - floor plan - non-trade	(172,900)	(24,900)
Debt issuance costs	1,600	(300)
Principal payments and repurchase of long-term debt	(63,100)	(24,700)
Purchases of treasury stock	(90,700)	(93,100)
Finance Lease, Principal Payments	4,700	3,100
Issuance of shares under stock compensation plans	10,000	1,300
Dividends paid	(20,200)	(15,000)
Net cash provided by (used in) financing activities	2,600	(159,800)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(109,500)	27,700
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	229,200	299,400
CASH AND CASH EQUIVALENTS, END OF PERIOD	119,700	327,100
Cash paid (received) during the period for:
Interest, including amount capitalized	84,200	52,600
Income taxes	$ 46,500	$ 59,000

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Statement of Cash Flows [Abstract]
Tax effect on fair value of interest rate swap and rate cap agreements	$ 300	$ 200

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Per Share Data and Stockholders' Equity	Earnings Per Share –
Revenue from Contract with Customer	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 third-party vehicle financing and the sale of third-party 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 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. The accompanying unaudited condensed consolidated balance sheets as of June 30, 2023 and December 31, 2022 include approximately $27.0 million and $38.7 million, respectively, related to contract assets from F&I retro revenues recognition,
Error Correction

Inventories

Inventories	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consist of the following: June 30, 2023 December 31, 2022 (In millions) New vehicles $ 621.0 $ 449.3 Used vehicles 563.2 534.0 Service loaners 162.1 143.8 Parts, accessories and other 102.5 89.7 Inventories $ 1,448.8 $ 1,216.8

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2023
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 $2.9 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. On October 7, 2022, we entered into an amendment to the 2021 Credit Facilities (the “Second Credit Facility Amendment”) to, among other things: (i) replace the 2021 Credit Facilities’ London InterBank Offered Rate (“LIBOR”)-based Eurodollar reference interest rate option with a reference interest rate option based upon one-month Term SOFR (as defined in the 2021 Credit Facilities) (the conversion of the interest rate benchmark from LIBOR to one-month Term SOFR included a 10-basis point credit spread adjustment); (ii) amend the provisions relating to the basis for inclusion of real property owned by the Company or certain of its subsidiaries in the borrowing base for the 2021 Revolving Credit Facility; (iii) amend the minimum amount for commitments under the 2021 Revolving Credit Facility and the proportion that such commitments under the 2021 Revolving Credit Facility may compose of the total commitments made by the lenders; and (iv) adjust aspects of the offset account used for voluntary reductions to loans under the 2021 Floor Plan Facilities. 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, 2023, the 2021 Revolving Borrowing Base was approximately $301.1 million based on balances as of such date. As of June 30, 2023, we had no outstanding borrowings and approximately $12.1 million in outstanding letters of credit under the 2021 Revolving Credit Facility, resulting in $289.0 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 (subsequent to September 30, 2022, the Second Credit Facility Amendment replaced LIBOR with one-month term SOFR). 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 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 cash dividends on our Class A and Class B Common Stock up to $0.12 per share so long as no Event of Default (as defined in the 2021 Credit Facilities) has occurred and is continuing and provided that we remain in compliance with all financial covenants under the 2021 Credit Facilities. Additional dividends are permitted subject to the limitations on restricted payments set forth in the 2021 Credit Facilities.
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, along with the net proceeds of the 4.875% 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 domestic operating subsidiaries. The parent company has no independent assets or operations. 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, 2022. 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, along with the net proceeds of the 4.625% 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 domestic operating subsidiaries. The parent company has no independent assets or operations. 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, 2022.
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 was 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 consummation of the RFJ Acquisition and the issuance of the 4.625% Notes and the 4.875% Notes. On November 17, 2022, we entered into an amendment to the 2019 Mortgage Facility to, among other things, extend the scheduled maturity date to November 17, 2027. On November 17, 2022, in connection with the closing of the amendment, the Company incurred a term loan under the 2019 Mortgage Facility with a principal amount of $320.0 million, with a portion of the proceeds used to repay the entire $77.6 million principal amount of the prior term loan. The $320.0 million borrowing amortizes on a fixed schedule through the maturity date. In addition, the lenders under the 2019 Mortgage Facility committed to providing, upon the terms set forth in the amendment and upon the pledging of sufficient collateral by the Company, delayed draw-term loans in an aggregate principal amount up to $78.0 million (the “Delayed Draw Credit Facility”), and revolving loans in an aggregate principal amount not to exceed $95.0 million outstanding. On November 18, 2022, the Company incurred a term loan under the Delayed Draw Credit Facility with a principal amount of $7.0 million. The aggregate commitments of the lenders under the 2019 Mortgage Facility equal a total of $500.0 million, upon satisfaction of the conditions set forth in the 2019 Mortgage Facility, including the appraisal and pledging of collateral of a specified value. The amendment also amended the 2019 Mortgage Facility to, among other things: (1) replace the 2019 Mortgage Facility’s LIBOR-based Eurodollar reference interest rate option with a reference interest rate option based upon one-month Term SOFR (as defined in the 2019 Mortgage Facility); and (2) make changes to the pricing grid for loans incurred under the 2019 Mortgage Facility, which price is based on an incremental interest margin calculated based on the Company’s Consolidated Total Lease Adjusted Leverage Ratio (as defined in the 2019 Mortgage Facility). Under the 2019 Mortgage Facility, Sonic has a maximum borrowing limit of $500.0 million, which varies based on the appraised value of the collateral underlying the 2019 Mortgage Facility. Based on balances as of June 30, 2023, we had approximately $319.0 million of outstanding borrowings under the 2019 Mortgage Facility. Amounts outstanding under the 2019 Mortgage Facility bear interest at: (1) a specified rate above one-month Term SOFR, ranging from 1.25% to 2.25% per annum according to a performance-based pricing grid determined by the Company’s Consolidated Total Lease Adjusted Leverage Ratio 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 0.25% to 1.25% per annum according to the Performance Grid. Interest on the 2019 Mortgage Facility is paid monthly in arrears calculated using the Base Rate plus the Applicable Rate (as defined in the 2019 Mortgage Facility) according to the Performance Grid. Scheduled repayment of outstanding principal is paid quarterly commencing on March 31, 2023 through December 31, 2024 at a rate of 1.25% of the aggregate initial principal amount, and increases to 1.875% in March 2025 until the maturity date at November 17, 2027. A balloon payment of the remaining balance will be due at the November 17, 2027 maturity date. Prior to the November 17, 2027 maturity date, the Company reserves the right to prepay the principal amount outstanding at any time without premium or penalty provided the prepayment amount exceeds $0.5 million. Additional dividends are permitted subject to the limitations on restricted payments set forth in the 2021 Credit Facilities. For further discussion of the 2019 Mortgage Facility, 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, 2022.
Mortgage Notes Text Block [Text Block]	Mortgage Notes to Finance Companies As of June 30, 2023, the weighted-average interest rate of our other outstanding mortgage notes (excluding the 2019 Mortgage Facility) was 5.16% and the total outstanding mortgage principal balance of these notes (excluding the 2019 Mortgage Facility) was approximately $247.4 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 from 2024 to 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, 2023
Earnings Per Share [Abstract]
Per Share Data and Stockholders' Equity	Earnings Per Share –

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments Contingencies and Guarantees	Commitments and Contingencies Guarantees and Indemnification Obligations 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 is difficult to quantify, our maximum exposure associated with these general indemnifications was approximately $8.0 million as of June 30, 2023 and there was not any material exposure with respect to these indemnifications at December 31, 2022. 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, 2023 and December 31, 2022 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 is unable to predict with certainty the eventual outcome of any litigation, regulatory investigation or inquiry, in the opinion of management, Sonic does not believe it is reasonably possible that its current and threatened legal proceedings will have a material adverse effect on Sonic’s business, financial position or consolidated results of operations. Given the inherent unpredictability of these types of proceedings, however, it is possible that future adverse outcomes could have a material effect on Sonic’s financial results. There were no significant liabilities recorded related to legal matters as of June 30, 2023 and December 31, 2022.

Fair Value Measurements

Fair Value Measurements $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
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, 2023 and December 31, 2022 were as follows: Fair Value Based on Significant Other Observable Inputs (Level 2) June 30, 2023 December 31, 2022 (In millions) Assets: Cash surrender value of life insurance policies (1) $ 40.1 $ 38.2 Interest rate caps designated as hedges (2) 2.9 — Total assets $ 43.0 $ 38.2 Liabilities: Deferred compensation plan (3) $ 23.0 $ 21.1 Total liabilities $ 23.0 $ 21.1 (1) Included in other assets in the accompanying unaudited condensed consolidated balance sheets. (2) As of June 30, 2023, approximately $1.9 million and $1.0 million were included in other current assets and other assets, respectively, in the accompanying unaudited condensed consolidated balance sheets. (3) Included in other long-term liabilities in the accompanying unaudited condensed consolidated balance sheets. In conjunction with the approximately $75.2 million charge recorded during the three and six months ended June 30, 2023 related to the decision to indefinitely suspend operations at certain EchoPark locations and to close certain Northwest Motorsport stores discussed above, Sonic was required to adjust certain real estate assets to fair value on a non-recurring basis. After adjustments of $5.7 million, the recorded balances were $55.5 million at June 30, 2023. The book value of such assets may be reevaluated as changes in circumstances require. As of June 30, 2023 and December 31, 2022, 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, 2023 and December 31, 2022, the fair value and the carrying value of Sonic’s significant fixed rate long-term debt were as follows: June 30, 2023 December 31, 2022 Fair Value Carrying Value Fair Value Carrying Value (In millions) 4.875% Notes (1) $ 408.8 $ 500.0 $ 390.3 $ 500.0 4.625% Notes (1) $ 544.4 $ 650.0 $ 519.5 $ 650.0 Mortgage Notes (2) $ 161.8 $ 169.5 $ 174.0 $ 186.6 (1) As determined by market quotations from similar securities as of June 30, 2023 and December 31, 2022, respectively (Level 2). (2) As determined by the DCF method (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, 2022.
Real Estate, Fair Value	$ 55,500

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2023
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, 2022. 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, 2022.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Segment Information	9. Segment Information As of June 30, 2023, Sonic had three 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”); (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”); and (3) retail locations that sell new and used powersports vehicles, perform vehicle maintenance, warranty and repair services, and arrange finance and insurance products (the “Powersports 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, 2023 and 2022 were as follows: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 (In millions) Revenues: Franchised Dealerships Segment revenues: Retail new vehicles $ 1,583.3 $ 1,341.7 $ 3,004.3 $ 2,687.4 Fleet new vehicles 28.3 19.9 47.1 38.0 Total new vehicles 1,611.6 1,361.6 3,051.4 2,725.4 Used vehicles 774.5 871.9 1,542.0 1,725.7 Wholesale vehicles 55.6 79.2 114.0 185.5 Parts, service and collision repair 433.4 398.1 857.2 778.7 Finance, insurance and other, net 132.2 129.8 249.4 256.2 Franchised Dealerships Segment revenues $ 3,007.3 $ 2,840.6 $ 5,814.0 $ 5,671.5 EchoPark Segment revenues: Retail new vehicles $ — $ 1.3 $ 1.0 $ 5.7 Used vehicles 524.0 574.5 1,096.5 1,089.8 Wholesale vehicles 35.5 42.0 62.5 104.5 Finance, insurance and other, net 41.1 43.1 91.1 83.0 EchoPark Segment revenues $ 600.6 $ 660.9 $ 1,251.1 $ 1,283.0 Powersports Segment revenues: Retail new vehicles $ 24.9 $ 1.2 $ 45.7 $ 2.5 Used vehicles 7.4 1.9 12.3 2.9 Wholesale vehicles 0.4 0.2 0.5 0.2 Parts, service and collision repair 10.3 1.1 17.0 1.8 Finance, insurance and other, net 2.0 0.3 3.5 0.5 Powersports Segment revenues $ 45.0 $ 4.7 $ 79.0 $ 7.9 Total consolidated revenues $ 3,652.9 $ 3,506.2 $ 7,144.1 $ 6,962.4 Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 (In millions) Segment Income (Loss) (1): Franchised Dealerships Segment $ 145.9 $ 162.1 $ 255.8 $ 326.0 EchoPark Segment (52.8) (34.2) (99.7) (69.6) Powersports Segment 2.0 (0.7) 2.6 (0.3) Income before taxes $ 32.5 $ 127.2 $ 96.1 $ 256.1 (1) Segment income (loss) for each segment is defined as income (loss) before taxes and impairment charges. Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 (In millions) Depreciation and Amortization: Franchised Dealerships Segment $ 27.9 $ 25.3 $ 54.5 $ 50.0 EchoPark Segment 7.4 5.8 14.4 10.9 Powersports Segment 0.8 0.1 1.6 0.2 Total depreciation and amortization $ 36.1 $ 31.2 $ 70.5 $ 61.1 Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 (In millions) Floor Plan Interest Expense: Franchised Dealerships Segment (1) $ 11.9 $ 3.9 $ 21.8 $ 7.2 EchoPark Segment 4.8 2.2 9.3 3.9 Powersports Segment 0.3 — 0.4 — Total floor plan interest expense $ 17.0 $ 6.1 $ 31.5 $ 11.1 (1) Amount is net of interest earned on the floor plan deposit balance of $4.6 million and $0.8 million in the three months ended June 30, 2023 and 2022, respectively, and $8.7 million and $1.4 million in the six months ended June 30, 2023 and 2022, respectively. Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 (In millions) Interest Expense, Other, Net: Franchised Dealerships Segment $ 27.5 $ 20.2 $ 54.4 $ 40.3 EchoPark Segment 0.9 1.1 1.8 1.8 Powersports Segment 0.5 — 1.1 — Total interest expense, other, net $ 28.9 $ 21.3 $ 57.3 $ 42.1 Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 (In millions) Capital Expenditures: Franchised Dealerships Segment $ 34.4 $ 21.9 $ 65.4 $ 52.0 EchoPark Segment 2.8 19.7 8.5 48.4 Powersports Segment 1.1 — 1.6 — Total capital expenditures $ 38.3 $ 41.6 $ 75.5 $ 100.4 June 30, 2023 December 31, 2022 (In millions) Assets: Franchised Dealerships Segment $ 4,439.3 $ 4,091.7 EchoPark Segment 28.1 267.6 Powersports Segment 207.5 117.8 Corporate and other: Cash and cash equivalents 119.7 229.2 Floor plan deposit balance 287.0 272.0 Total assets $ 5,081.6 $ 4,978.3

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	10. Subsequent Events Subsequent to June 30, 2023, we repurchased an additional [ ] shares of Class A Common Stock at an average price of [ ], resulting in current remaining share repurchase authorization of approximately [ ] million.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation –
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. Certain amounts and percentages may not compute due to rounding.
Per Share Data and Stockholders' Equity	Earnings Per Share –

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Unusual Risks and Uncertainties	Recent Accounting Pronouncements – 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, 2022 for further discussion of recent accounting pronouncements. Change in Accounting Principle – During the first quarter of 2023, Sonic voluntarily changed the date of its annual goodwill impairment test and other intangible assets impairment test from October 1 to April 30. This change is preferable under the circumstances as it provides Sonic with better alignment of the annual impairment test with the availability of final approved prospective financial information for use in projecting future cash flows in our impairment models. We intend to utilize the same valuation approach and do not expect the change in valuation date to produce different impairment results. This change is not applied retrospectively as it is impracticable to do so because retrospective application would require the application of significant estimates and assumptions with the use of hindsight. Accordingly, the change was applied prospectively, beginning with the April 30, 2023 impairment test date.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Components of Inventories	Inventories consist of the following: June 30, 2023 December 31, 2022 (In millions) New vehicles $ 621.0 $ 449.3 Used vehicles 563.2 534.0 Service loaners 162.1 143.8 Parts, accessories and other 102.5 89.7 Inventories $ 1,448.8 $ 1,216.8

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Components of Property and Equipment, Net	Property and equipment, net consists of the following: June 30, 2023 December 31, 2022 (In millions) Land $ 482.5 $ 478.2 Buildings and improvements 1,401.5 1,365.3 Furniture, fixtures and equipment 518.1 504.1 Construction in progress 48.4 57.0 Total, at cost 2,450.5 2,404.6 Less accumulated depreciation (886.4) (842.9) Subtotal 1,564.1 1,561.7 Less assets held for sale (1) (4.7) — Property and equipment, net $ 1,559.4 $ 1,561.7

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Instrument [Line Items]
Long-Term Debt	Long-term debt consists of the following: June 30, 2023 December 31, 2022 (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) 319.0 327.0 Mortgage notes to finance companies - fixed rate, bearing interest from 2.05% to 7.03% 169.5 186.6 Mortgage notes to finance companies - variable rate, bearing interest at 1.50 to 2.90 percentage points above one-month or three-month LIBOR or SOFR 77.9 116.0 Subtotal $ 1,716.4 $ 1,779.6 Debt issuance costs (26.1) (27.9) Total debt 1,690.3 1,751.7 Less current maturities (60.8) (79.5) Long-term debt $ 1,629.5 $ 1,672.2 (1) The interest rate on the 2021 Revolving Credit Facility (as defined below) was 135 basis points above one-month Term SOFR (as defined below) at June 30, 2023 and 110 basis points above one-month Term SOFR at December 31, 2022. (2) The interest rate on the 2019 Mortgage Facility (as defined below) was 160 basis points above one-month Term SOFR (as defined below) at June 30, 2023 and 135 basis points above one-month Term SOFR at December 31, 2022.
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 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, 2023. 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, 2023 actual 1.30 1.62 2.72 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, 2023, we had approximately $300.6 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, 2023. 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, 2023, the ratio was 12.40 to 1.00.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2023
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, 2023 and December 31, 2022 were as follows: Fair Value Based on Significant Other Observable Inputs (Level 2) June 30, 2023 December 31, 2022 (In millions) Assets: Cash surrender value of life insurance policies (1) $ 40.1 $ 38.2 Interest rate caps designated as hedges (2) 2.9 — Total assets $ 43.0 $ 38.2 Liabilities: Deferred compensation plan (3) $ 23.0 $ 21.1 Total liabilities $ 23.0 $ 21.1 (1) Included in other assets in the accompanying unaudited condensed consolidated balance sheets. (2) As of June 30, 2023, approximately $1.9 million and $1.0 million were included in other current assets and other assets, respectively, in the accompanying unaudited condensed consolidated balance sheets. (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	As of June 30, 2023 and December 31, 2022, the fair value and the carrying value of Sonic’s significant fixed rate long-term debt were as follows: June 30, 2023 December 31, 2022 Fair Value Carrying Value Fair Value Carrying Value (In millions) 4.875% Notes (1) $ 408.8 $ 500.0 $ 390.3 $ 500.0 4.625% Notes (1) $ 544.4 $ 650.0 $ 519.5 $ 650.0 Mortgage Notes (2) $ 161.8 $ 169.5 $ 174.0 $ 186.6 (1) As determined by market quotations from similar securities as of June 30, 2023 and December 31, 2022, respectively (Level 2). (2) As determined by the DCF method (Level 2)

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2023
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, 2022. 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, 2022.

Leases, Codification Topic 842

Leases, Codification Topic 842 (Tables) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Lease, Cost [Abstract]
Finance Lease, Principal Payments	$ 4,700	$ 3,100
Leases [Abstract]
Finance Lease, Right-of-Use Asset, after Accumulated Amortization	261,700		$ 224,100
Operating Lease, Liability, Current	32,500		36,400
Finance Lease, Liability, Current	15,000		11,100
Operating Lease, Liability, Noncurrent	188,600		231,400
Finance Lease, Liability, Noncurrent	$ 272,600		$ 228,600

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Cumulative Effect of Adjustments for Adoption of ASC 606 (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Revenues:
Revenues	$ 3,652,900,000	$ 3,506,200,000	$ 7,144,100,000	$ 6,962,400,000
Cost of Sales:
Cost of Sales	(3,084,000,000)	(2,917,400,000)	(6,021,600,000)	(5,802,300,000)
Operating income (loss)	78,300,000	154,800,000	184,700,000	309,200,000
Assets:
Receivables, net	400,600,000		400,600,000		$ 462,400,000
Liabilities:
Other accrued liabilities	355,000,000		355,000,000		352,400,000
Stockholders' Equity:
Retained Earnings (Accumulated Deficit)	1,151,200,000		1,151,200,000		1,100,300,000
Parts, service and collision repair
Revenues:
Revenues	443,700,000	399,200,000	874,200,000	780,500,000
Cost of Sales:
Cost of Sales	(223,300,000)	(200,600,000)	(440,900,000)	(394,900,000)
Finance, insurance and other, net
Revenues:
Revenues	175,300,000	$ 173,200,000	344,000,000	$ 339,700,000
ASU 2014-09 | Finance, insurance and other, net
Assets:
Contract assets	$ 27,000,000		$ 27,000,000		$ 38,700,000

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Finance Lease, Right-of-Use Asset, after Accumulated Amortization	$ 261,700	$ 224,100
Intangible assets	417,400	396,700
Right-of-use asset	$ 203,600	$ 260,700

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Activity (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Finance Lease, Right-of-Use Asset, after Accumulated Amortization	$ 261,700	$ 224,100
Operating Lease, Right-of-Use Asset	$ 203,600	$ 260,700

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
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	28%	25.50%
Income benefit	$ (9,100)	$ (32,400)	$ (25,000)	$ (64,000)
Impairment charges	$ 62,600	$ 0	$ 62,600	$ 0
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	$ 27,000		$ 27,000		$ 38,700

Business Acquisitions and Dispo

Business Acquisitions and Dispositions - Additional Information (Details)	6 Months Ended				12 Months Ended
	Jun. 30, 2023 USD ($) retail_Units Business	Jun. 30, 2022 USD ($) Business	Jun. 30, 2022 USD ($) retail_Units	Jun. 30, 2022 USD ($)	Dec. 31, 2023 USD ($) retail_Units	Dec. 31, 2022 USD ($)
Business Acquisition [Line Items]
Number of franchises disposed	0	0	1
Net cash generated from disposition	$ 52,300,000
Proceeds from sales of dealerships	52,300,000			$ 0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other	100,000
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
Payments to Acquire Businesses, Gross	$ 75,100,000
Mid-line import franchise
Business Acquisition [Line Items]
Number of franchises disposed | retail_Units	1
Net cash generated from disposition				0
Luxury Dealership [Domain]
Business Acquisition [Line Items]
Number of franchises disposed | retail_Units	1
domestic franchise dealership [Domain]
Business Acquisition [Line Items]
Number of franchises disposed | retail_Units	1
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 Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory					$ 11,600,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment					700,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill					$ 22,600,000
Franchised [Member]
Business Combinations [Abstract]
Number of acquired franchises | retail_Units					2
Business Acquisition [Line Items]
Number of acquired franchises | retail_Units					2
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory						$ 4,900,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment						100,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill						6,400,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other		$ 1,100,000	$ 1,100,000	1,100,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities		$ (100,000)	$ (100,000)	$ (100,000)
Powersports Segment
Business Combinations [Abstract]
Number of acquired franchises | retail_Units					1
Business Acquisition [Line Items]
Number of acquired franchises | retail_Units					1
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Land					$ 29,000,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities					$ (300,000)
Franchised Dealerships Acquired
Business Acquisition [Line Items]
Business acquisition, consideration amount						$ 13,700,000

Inventories - Components of Inv

Inventories - Components of Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
New vehicles	$ 621,000	$ 449,300
Used vehicles	563,200	534,000
Service loaners	162,100	143,800
Parts, accessories and other	102,500	89,700
Net inventories	$ 1,448,800	$ 1,216,800

Property and Equipment - Compon

Property and Equipment - Components of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Less accumulated depreciation	$ (886,400)	$ (842,900)
Subtotal	1,564,100	1,561,700
Less assets held for sale	(4,700)	0
Property and equipment, net	1,559,400	1,561,700
Land
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	482,500	478,200
Building and improvements
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	1,401,500	1,365,300
Furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	518,100	504,100
Construction in progress
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	48,400	57,000
Property, Plant and Equipment, Net, Excluding Capital Leased Assets
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 2,450,500	$ 2,404,600

Property and Equipment - Additi

Property and Equipment - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Capital expenditures	$ 38,300	$ 41,600	$ 75,500	$ 100,400
Impairment charges	$ 62,600	$ 0	62,600	$ 0
Impairment of Long-Lived Assets to be Disposed of			32,500
Property, Plant and Equipment [Line Items]
Impairment of Long-Lived Assets to be Disposed of			$ 32,500

Goodwill and Intangible Assets

Goodwill and Intangible Assets - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Net of accumulated impairment losses						$ 1,100,000
Goodwill - Franchise Segment	$ 220,000		$ 220,000		$ 221,800	251,200
Goodwill - Preowned Segment	0		0		0	165,200
Goodwill - Powersports Segment	22,500		22,500		9,200	0
GW Accm Amort Fdealer					1,100,000
GW Amm Amort Preowned					202,900
Finite-Lived Intangible Assets [Line Items]
Impairment charges	62,600	$ 0	62,600	$ 0
Indefinite-Lived Franchise Rights	417,400		417,400		396,700
Goodwill [Line Items]
Goodwill - Preowned Segment	0		0		0	165,200
Net of accumulated impairment losses						1,100,000
Goodwill and Intangible Asset Impairment			(1,800)		(202,900)
Goodwill	242,500		242,500		231,000	416,400
Goodwill and Intangible Assets Acquired			11,900		14,300
Goodwill - Franchise Segment	220,000		220,000		221,800	251,200
Goodwill - Powersports Segment	$ 22,500		22,500		9,200	$ 0
PY Acq GW Allocations			1,400		3,200
PY Acq GW Allocations Fdealer			0		(34,500)
PY Acq GW Allocations Preowned			0		37,700
PY Acq GW Allocations Powersports			1,400		0
Goodwill and Intangible Assets Acquired Fdealer			0		5,100
Goodwill and Intangible Assets Acquired Preowned			0		0
Goodwill and Intangible Assets Acquired Powersports			11,900		9,200
GW Asset Impairment Fdealer			(1,800)		0
GW Asset Impairment Preowned			0		(202,900)
GW Asset Impairment Powersports			$ 0		$ 0

Long-Term Debt - Long-Term Debt

Long-Term Debt - Long-Term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022	Oct. 13, 2021
Debt Instrument [Line Items]
Subtotal		$ 1,716,400	$ 1,779,600
Debt issuance costs		(26,100)	(27,900)
Total debt		1,690,300	1,751,700
Less current maturities		(60,800)	(79,500)
Long-term debt		1,629,500	1,672,200
Mortgage notes
Debt Instrument [Line Items]
Mortgage notes to finance companies - fixed rate, bearing interest from 3.51% to 7.03%		169,500	186,600
Mortgage notes to finance companies - variable rate, bearing interest at 1.50 to 2.90 percentage points above one-month or three-month LIBOR		77,900	116,000
Subtotal		$ 247,400
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		$ 319,000	$ 327,000
Stated interest rate	1.25%
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, 2023	Dec. 31, 2022
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	$ 2,900,000,000
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	301,100,000
2016 Revolving Credit Facility	0
Letters of credit outstanding amount	12,100,000
Borrowing availability amount	$ 289,000,000
Maximum dividend (usd per share)	$ 0.12

Long-Term Debt - Notes Narrativ

Long-Term Debt - Notes Narrative (Details) - USD ($)	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Oct. 13, 2021
Debt Instrument [Line Items]
Debt outstanding	$ 1,716,400,000		$ 1,779,600,000
Maximum Borrowing 2019 Mortgage Facility		$ 500,000,000
Mortgage notes
Debt Instrument [Line Items]
Debt weighted average interest rate on note	5.16%
Debt outstanding	$ 247,400,000
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]
Stated interest rate		1.25%
Long Term Debt Prepayment	$ 500,000
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	0.25%
Debt Instrument, Basis Spread LIBOR	1.25%
Maximum | 2019 Mortgage Facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.25%
Debt Instrument, Basis Spread LIBOR	2.25%

Long-Term Debt - Covenants (Det

Long-Term Debt - Covenants (Details) $ in Millions	Jun. 30, 2023 USD ($)
Line of Credit Facility [Line Items]
Minimum Consolidated Liquidity Ratio	130%
Minimum Consolidated Fixed Charge Coverage Ratio	162%
Maximum Consolidated Total Lease Adjusted Leverage Ratio	272%
2016 Credit Facilities
Line of Credit Facility [Line Items]
Net income and retained earnings free of restrictions	$ 300.6
Minimum EBTDAR to rent ratio	1,240%
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 - 2019 Mortgage

Long-Term Debt - 2019 Mortgage Facility (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2023	Jun. 30, 2023	Oct. 13, 2021
Debt Instrument [Line Items]
Maximum Borrowing 2019 Mortgage Facility	$ 500,000
6.125% Notes
Debt Instrument [Line Items]
Stated interest rate		6.125%	6.125%
2019 Mortgage Facility [Member]
Debt Instrument [Line Items]
Term Loan, Principal Amount	320,000
Prior Term Loan, Principal Amount	77,600
Delayed Draw-Term Loan, Aggregate Principal	78,000
Revolving Loan, Aggregate Principal	95,000
Outstanding Balance, Delayed Draw Credit Facility	7,000
2019 Mortgage Facility Outstanding	$ 319,000
Stated interest rate	1.25%
Debt Instrument, Interest Rate, Increase (Decrease)	1.875%

Long-Term Debt (Details)

Long-Term Debt (Details) - TwoThousandTwentyRevolvingCreditFacility - Revolving Credit Facility	Jun. 30, 2023 USD ($)
Line of Credit Facility [Line Items]
2016 Revolving Credit Facility	$ 0
Borrowing availability amount	$ 289,000,000

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, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Weighted Average Shares
Weighted average common shares outstanding	35,300	39,500	35,600	40,000
Diluted earnings (loss) (shares)	36,000	40,500	36,500	41,200
Net Income (Loss)
Earnings (loss)	$ 23,400	$ 94,800	$ 71,100	$ 192,100
Basic earnings (loss) per share (usd per share)	$ 0.66	$ 2.40	$ 2	$ 4.81
Effect of dilutive securities:
Earnings (loss) per common share (usd per share)	$ 0.65	$ 2.34	$ 1.95	$ 4.67

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Other Commitments [Line Items]
Maximum exposure associated with general indemnifications	$ 8,000
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%
Contingent liability reserve balance after reduction	$ 4,300
Other accrued liabilities
Other Commitments [Line Items]
Amount reserved for pending proceedings	400
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		$ 400

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Recorded at Fair Value (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Real Estate, Valuation Adjustments	$ 5,700
Real Estate, Fair Value	55,500
Fair Value Based on Significant Other Observable Inputs (Level 2)
Assets:
Cash surrender value of life insurance policies	40,100	$ 38,200
Cash flow swaps and interest rate caps designated as hedges	2,900	0
Total assets	43,000	38,200
Liabilities:
Deferred compensation plan	23,000	21,100
Total liabilities	23,000	21,100
Fair Value Based on Significant Other Observable Inputs (Level 2) | Other current assets
Assets:
Cash flow swaps and interest rate caps designated as hedges	1,900
Fair Value Based on Significant Other Observable Inputs (Level 2) | Other assets
Assets:
Cash flow swaps and interest rate caps designated as hedges	$ 1,000
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, 2023	Dec. 31, 2022	Oct. 13, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value	$ 1,690,300	$ 1,751,700
Mortgage Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	161,800	174,000
Carrying Value	$ 169,500	186,600
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	$ 408,800	390,300
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	$ 544,400	519,500
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, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 854,800	$ 1,135,000	$ 895,200	$ 1,076,400
Other comprehensive income (loss)	1,000	300	900	500
Ending balance	876,700	1,170,000	876,700	1,170,000
Total Accumulated Other Comprehensive Income (Loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	1,500	(1,100)	1,600	(1,300)
Other comprehensive income (loss)	1,000	300	900	500
Ending balance	$ 2,500	$ (800)	$ 2,500	$ (800)

Segment Information - Additiona

Segment Information - Additional Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) Segment	Jun. 30, 2022 USD ($)
Segment Reporting [Abstract]
Number of operating segments | Segment			3
Impairment charges | $	$ 62,600	$ 0	$ 62,600	$ 0

Segment Information - Summary o

Segment Information - Summary of Reportable Operating Segment (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021
Revenues:
Total consolidated revenues	$ 3,652,900,000	$ 3,506,200,000	$ 7,144,100,000	$ 6,962,400,000
Segment income (loss):
Segment income (loss)	78,300,000	154,800,000	184,700,000	309,200,000
Interest expense, other, net	(28,900,000)	(21,300,000)	(57,300,000)	(42,100,000)
Other income (expense), net	100,000	(200,000)	200,000	100,000
Income (loss) from continuing operations before taxes	32,500,000	127,200,000	96,100,000	256,100,000
FloorPlanDepositBalance	287,000,000		287,000,000		$ 272,000,000
Impairment charges	(62,600,000)	0	(62,600,000)	0
Impairment of Long-Lived Assets to be Disposed of			32,500,000
Depreciation, Depletion and Amortization	36,100,000	31,200,000	70,500,000	61,100,000
FloorPlanInterestExpense	17,000,000	6,100,000	31,500,000	11,100,000
Interest Expense, Other	28,900,000	21,300,000	57,300,000	42,100,000
Payments to Acquire Property, Plant, and Equipment	38,300,000	41,600,000	75,500,000	100,400,000
Cash and cash equivalents	119,700,000	327,100,000	119,700,000	327,100,000	229,200,000	$ 299,400,000
Assets	5,081,600,000		5,081,600,000		4,978,300,000
Powersports Used Vehicle Revenue	7,400,000	1,900,000	12,300,000	2,900,000
Powersports Wholesale Vehicle Revenue	400,000	200,000	500,000	200,000
Powersports Fixed Ops Revenue	10,300,000	1,100,000	17,000,000	1,800,000
Powersports F&I Revenue	2,000,000	300,000	3,500,000	500,000
Powersports Segment Revenue	45,000,000	4,700,000	79,000,000	7,900,000
Franchised Dealerships Segment
Revenues:
Total consolidated revenues	3,007,300,000	2,840,600,000	5,814,000,000	5,671,500,000
Segment income (loss):
Interest expense, other, net	(27,500,000)	(20,200,000)	(54,400,000)	(40,300,000)
Depreciation, Depletion and Amortization	27,900,000	25,300,000	54,500,000	50,000,000
FloorPlanInterestExpense	11,900,000	3,900,000	21,800,000	7,200,000
Interest Expense, Other	27,500,000	20,200,000	54,400,000	40,300,000
Payments to Acquire Property, Plant, and Equipment	34,400,000	21,900,000	65,400,000	52,000,000
Assets	4,439,300,000		4,439,300,000		4,091,700,000
EchoPark Segment
Revenues:
Total consolidated revenues	600,600,000	660,900,000	1,251,100,000	1,283,000,000
Segment income (loss):
Interest expense, other, net	(900,000)	(1,100,000)	(1,800,000)	(1,800,000)
Depreciation, Depletion and Amortization	7,400,000	5,800,000	14,400,000	10,900,000
FloorPlanInterestExpense	4,800,000	2,200,000	9,300,000	3,900,000
Interest Expense, Other	900,000	1,100,000	1,800,000	1,800,000
Payments to Acquire Property, Plant, and Equipment	2,800,000	19,700,000	8,500,000	48,400,000
Assets	28,100,000		28,100,000		267,600,000
Powersports Segment
Segment income (loss):
Interest expense, other, net	(500,000)	0	(1,100,000)	0
Depreciation, Depletion and Amortization	800,000	100,000	1,600,000	200,000
FloorPlanInterestExpense	300,000	0	400,000	0
Interest Expense, Other	500,000	0	1,100,000	0
Payments to Acquire Property, Plant, and Equipment	1,100,000	0	1,600,000	0
Assets	207,500,000		207,500,000		$ 117,800,000
Operating segments | Franchised Dealerships Segment
Segment income (loss):
Segment income (loss)	145,900,000	162,100,000	255,800,000	326,000,000
Operating segments | EchoPark Segment
Segment income (loss):
Segment income (loss)	(52,800,000)	(34,200,000)	(99,700,000)	(69,600,000)
Operating segments | Powersports Segment
Segment income (loss):
Segment income (loss)	2,000,000	(700,000)	2,600,000	(300,000)
Reconciling items
Segment income (loss):
Other income (expense), net	32,500,000	127,200,000	96,100,000	256,100,000
New vehicles
Revenues:
Total consolidated revenues	1,636,500,000	1,364,100,000	3,098,100,000	2,733,600,000
New vehicles | Franchised Dealerships Segment
Revenues:
Total consolidated revenues	1,611,600,000	1,361,600,000	3,051,400,000	2,725,400,000
Used vehicles
Revenues:
Total consolidated revenues	1,305,900,000	1,448,300,000	2,650,800,000	2,818,400,000
Used vehicles | Franchised Dealerships Segment
Revenues:
Total consolidated revenues	774,500,000	871,900,000	1,542,000,000	1,725,700,000
Used vehicles | EchoPark Segment
Revenues:
Total consolidated revenues	524,000,000	574,500,000	1,096,500,000	1,089,800,000
Wholesale vehicles
Revenues:
Total consolidated revenues	91,500,000	121,400,000	177,000,000	290,200,000
Wholesale vehicles | Franchised Dealerships Segment
Revenues:
Total consolidated revenues	55,600,000	79,200,000	114,000,000	185,500,000
Wholesale vehicles | EchoPark Segment
Revenues:
Total consolidated revenues	35,500,000	42,000,000	62,500,000	104,500,000
Parts, service and collision repair
Revenues:
Total consolidated revenues	443,700,000	399,200,000	874,200,000	780,500,000
Parts, service and collision repair | Franchised Dealerships Segment
Revenues:
Total consolidated revenues	433,400,000	398,100,000	857,200,000	778,700,000
Finance, insurance and other, net
Revenues:
Total consolidated revenues	175,300,000	173,200,000	344,000,000	339,700,000
Finance, insurance and other, net | Franchised Dealerships Segment
Revenues:
Total consolidated revenues	132,200,000	129,800,000	249,400,000	256,200,000
Finance, insurance and other, net | EchoPark Segment
Revenues:
Total consolidated revenues	41,100,000	43,100,000	91,100,000	83,000,000
NewVehiclesMember | EchoPark Segment
Revenues:
Total consolidated revenues	0	1,300,000	1,000,000	5,700,000
Retail New Vehicles [Member]
Revenues:
Total consolidated revenues	1,608,200,000	1,344,300,000	3,051,000,000	2,695,600,000
Retail New Vehicles [Member] | Franchised Dealerships Segment
Revenues:
Total consolidated revenues	1,583,300,000	1,341,700,000	3,004,300,000	2,687,400,000
Fleet New Vehicles [Member]
Revenues:
Total consolidated revenues	28,300,000	19,800,000	47,100,000	38,000,000
Fleet New Vehicles [Member] | Franchised Dealerships Segment
Revenues:
Total consolidated revenues	28,300,000	19,900,000	47,100,000	38,000,000
Retail New Vehcile
Revenues:
Powersports New Vehicle Revenue	$ 24,900,000	$ 1,200,000	$ 45,700,000	$ 2,500,000

Leases, Codification Topic 84_2

Leases, Codification Topic 842 (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Leases [Abstract]
Finance Lease, Right-of-Use Asset, after Accumulated Amortization	$ 261,700	$ 224,100
Right-of-use asset	$ 203,600	$ 260,700

Business Combinations (Details)

Business Combinations (Details) $ in Thousands	3 Months Ended		6 Months Ended				12 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) retail_Units Business	Jun. 30, 2022 USD ($) Business	Jun. 30, 2022 USD ($) retail_Units	Jun. 30, 2022 USD ($)	Dec. 31, 2023 USD ($) retail_Units	Dec. 31, 2022 USD ($)
Business Combinations [Abstract]
Number of franchises disposed			0	0	1
Proceeds from sales of dealerships			$ 52,300			$ 0
Asset Acquisition [Line Items]
Number of franchises disposed			0	0	1
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other	$ 100		$ 100
Severance Costs			2,200
Impairment charges	$ 62,600	$ 0	62,600			0
Restructuring Costs			75,200
Payments to Acquire Businesses, Gross			75,100
Purchase of businesses, net of cash acquired			75,100			28,400
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Consideration Transferred			14,700
Inventories
Asset Acquisition [Line Items]
Restructuring Costs			10,000
Inventories | EchoPark Segment [Member]
Asset Acquisition [Line Items]
Restructuring Costs			5,800
Contract Termination
Asset Acquisition [Line Items]
Restructuring Costs			400
Contract Termination
Asset Acquisition [Line Items]
Restructuring Costs			14,100
ROU asset
Asset Acquisition [Line Items]
Restructuring Costs			16,000
Property, Plant and Equipment
Asset Acquisition [Line Items]
Restructuring Costs			$ 32,500
Luxury Dealership [Domain]
Business Combinations [Abstract]
Number of franchises disposed | retail_Units			1
Asset Acquisition [Line Items]
Number of franchises disposed | retail_Units			1
Mid-line import franchise
Business Combinations [Abstract]
Number of franchises disposed | retail_Units			1
Asset Acquisition [Line Items]
Number of franchises disposed | retail_Units			1
EchoPark Stores [Abstract]
Asset Acquisition [Line Items]
NumberofPreownedStoresDisposed | retail_Units			8
EchoPark Delivery/Buy Centers [Abstract]
Asset Acquisition [Line Items]
NumberofPreownedStoresDisposed | retail_Units			14
Northwest Motorsport Segment [Abstract]
Asset Acquisition [Line Items]
NumberofPreownedStoresDisposed | retail_Units			3
domestic franchise dealership [Domain]
Business Combinations [Abstract]
Number of franchises disposed | retail_Units			1
Asset Acquisition [Line Items]
Number of franchises disposed | retail_Units			1
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							$ 11,600
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill							22,600
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment							700
Goodwill, Acquired During Period							$ 11,400
Franchised [Member]
Asset Acquisition [Line Items]
Number of acquired franchises | retail_Units							2
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory								$ 4,900
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill								6,400
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment								100
Goodwill, Acquired During Period						1,300
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other		1,100		$ 1,100	$ 1,100	1,100
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities		$ (100)		$ (100)	$ (100)	$ (100)
Franchised Dealerships Acquired
Asset Acquisition [Line Items]
Business acquisition, consideration amount								13,700
Business acquisition, consideration amount								$ 13,700
Powersports Segment
Asset Acquisition [Line Items]
Number of acquired franchises | retail_Units							1
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Land							$ 29,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities							$ (300)

Subsequent Events (Details)

Subsequent Events (Details) - 6.125% Notes - USD ($)	Jun. 30, 2023	Oct. 13, 2021
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%