An armrest assembly for pivotable attachment to a vehicle floor console includes a first sliding armrest having a latch, a second sliding armrest having a latch, a console pawl for engagement with a pawl receptacle formed in the console, a first cable connecting the latch of the first sliding armrest to the console pawl, and a second cable connecting the latch of the second sliding armrest to the console pawl. The assembly further includes a first ratchet rack and a first ratchet pawl connected to the latch of the first armrest and a second ratchet rack and a second ratchet pawl connected to the latch of the second armrest. Operation of a latch releases both the console pawl and the associated ratchet pawl simultaneously to allow sliding movement of the armrest or pivoting movement of the armrest assembly with respect to the floor console.