AutoNation 2000 Annual Report Download - page 65

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resulting in an after tax gain of approximately $230.0 million. In 1999 and
1998, the Company recognized additional after tax gains of approximately $2.1
million and $11.6 million, respectively, related to finalizing the gain on
disposition.
63
AUTONATION, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS -- (Continued)
11. DISCONTINUED OPERATIONS -- (Continued)
A summary of the net assets of discontinued operations as of December 31,
1999 for the automotive rental businesses is as follows:
Current assets ................................ $ 5,349.3
Non-current assets ............................ 1,000.2
----------
Total assets ................................. 6,349.5
Current liabilities ........................... 2,235.8
Non-current liabilities ....................... 3,387.1
----------
Total liabilities ............................ 5,622.9
----------
Net assets of discontinued operations ......... $ 726.6
==========
Selected income statement data for the Company's discontinued operations
for the years ended December 31 is as follows:
2000 1999
------------ ----------------------------------------------
Automotive Automotive Solid
Rental Rental Waste Total
------------ ------------------- ------------ -------------
Revenue .................... $ 1,721.2 $ 3,542.3 $ 552.5 $ 4,094.8
========== ============ ========= =========
Pre-tax income ............. (14.8) (88.2)(1) 100.8 12.6
Provision (benefit)
for income taxes ......... (5.8) (18.8) 38.8 20.0
Extraordinary
charge, net of
income taxes ............. -- 1.6 -- 1.6
Minority interest in
RSG ...................... -- -- 21.6 21.6
---------- ------------ --------- ---------
Net income (loss) .......... (9.0) (71.0) 40.4 (30.6)
Previously estimated
and accrued losses 22.1 -- -- --
---------- ------------ --------- ---------
Income (loss) from
discontinued
operations ............... $ 13.1 $ (71.0) $ 40.4 $ (30.6)
========== ============ ========= ==========
1998
--------------------------------------------