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Business Combinations (Tables)

6 Months Ended

Jun. 30, 2023

Business Acquisition [Line Items]

Schedule of consideration transferred

​

​	​	​	​
Cash consideration	​	$	1,714.2
Fair value of common shares issued	​	​	3,713.0
Fair value of exchanged IAA equity awards attributable to pre-combination service	​	​	13.1
Reimbursement of sell-side acquisition costs	​	​	48.8
Repayment of IAA net debt	​	​	1,157.1
Total fair value of consideration transferred	​	$	6,646.2

Schedule of pro forma results

​

​	​	​	​	​	​	​	​	​	​	​
​	​	Three months ended			​	​	Six months ended
​	​	June 30,			​	​	June 30,
​		2022		​	​	​	2023	​	​	2022
Revenue	​	$	1,004.4	​	​	$	2,094.5	​	$	1,955.2
Net income	​	​	40.6	​	​	​	186.9	​	​	42.5

IAA

Business Acquisition [Line Items]

Schedule of purchase price allocation

​

​	​	​	​
​	​		​
Purchase price	​	$	6,646.2
​	​	​	​
Assets acquired:	​		​
Cash and cash equivalents	​	​	164.9
Trade and other receivables	​		499.2
Prepaid consigned vehicle charges	​	​	8.7
Inventory	​	​	57.6
Other current assets	​	​	29.2
Income taxes receivable	​	​	1.9
Property, plant and equipment	​		634.3
Operating lease right-of-use assets	​	​	1,272.2
Other non-current assets	​		34.8
Intangible assets	​		2,447.7
​	​		​
Liabilities assumed:	​		​
Auction proceeds payable	​	​	60.7
Trade and other liabilities	​		259.2
Current operating lease liability	​	​	78.1
Income taxes payable	​	​	6.3
Long-term operating lease liability	​	​	1,166.1
Other non-current liabilities	​	​	22.4
Deferred tax liabilities	​		628.3
​	​	​	​
Fair value of identifiable net assets acquired	​		2,929.4
Goodwill acquired on acquisition	​	$	3,716.8

Schedule of fair values of the identifiable intangible assets acquired and their related estimated useful lives

​

​	​	​	​	​	​
​	​	Preliminary fair value		​	Weighted average
Asset	​	at acquisition		​	amortization period
Customer relationships	​	$	2,035.9	​	12 years
Developed technology	​	​	245.2	​	4 years
Trade names and trademarks	​	​	166.6	​	5 years
Total	​	$	2,447.7	​	10.7 years

VeriTread

Business Acquisition [Line Items]

Schedule of purchase price allocation

​

​	​	​	​
Total cash consideration paid	​	$	28.1
Fair value of previously held interest	​	​	4.3
Purchase price	​	$	32.4
​	​
Assets acquired:	​
Cash and cash equivalents	​	​	3.4
Trade and other receivables, and other current assets	​		0.9
Intangible assets	​		14.7
​	​
Liabilities assumed:	​
Trade and other liabilities	​		1.1
​	​	​	​
Fair value of identifiable net assets acquired	​		17.9
​	​	​	​
Redeemable non-controlling interest	​	​	(8.9)
Non-controlling interest	​	​	(1.8)
​	​	​	​
Goodwill acquired on acquisition	​	$	25.2

Schedule of fair values of the identifiable intangible assets acquired and their related estimated useful lives

​

​	​	​	​	​	​
​	​	Preliminary fair value		​	Weighted average
Asset	​	at acquisition		​	amortization period
Customer relationships	​	$	7.2	​	5 years
Software and technology assets	​	​	7.1	​	7 years
Trade names and trademarks	​	​	0.4	​	2 years
Total	​	$	14.7	​	5.9 years

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