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Acquisitions (Tables) | 12 Months Ended
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Dec. 31, 2024
IAA |
Business Acquisition [Line Items] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The acquisition was accounted for in accordance with ASC 805, Business Combinations. The following table summarizes the final allocation of the purchase price to the fair value of assets acquired and liabilities assumed:
Purchase price (cash: $1,714.2 million; fair value of common shares issued: $3,712.9 million; repayment of net debt: $1,157.1 million; reimbursement of costs: $48.8 million; and fair value of exchanged equity awards: $13.1 million) | $ | 6,646.1 |
Assets acquired: |
Cash and cash equivalents | 166.6 |
Trade and other receivables | 497.3 |
Inventory | 57.1 |
Other current assets | 28.0 |
Income taxes receivable | 0.6 |
Property, plant and equipment | 618.5 |
Operating lease right-of-use assets | 1,289.7 |
Other non-current assets | 34.8 |
Intangible assets | 2,712.1 |
Liabilities assumed: |
Auction proceeds payable | 60.7 |
Trade and other liabilities | 257.0 |
Current operating lease liability | 77.5 |
Income taxes payable | 3.5 |
Long-term operating lease liability | 1,192.7 |
Other non-current liabilities | 24.3 |
Deferred tax liabilities | 689.5 |
Fair value of identifiable net assets acquired | 3,099.5 |
Goodwill acquired on acquisition | $ | 3,546.6 |
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination | The following table summarizes the final fair values of the identifiable intangible assets acquired:
Asset |  | Preliminary fair value at acquisition |  | Weighted average amortization period
Customer relationships |  | $ | 2,293.5 |  |  | 15 years
Developed technology |  | 245.2 |  |  | 4 years
Trade names and trademarks |  | 166.6 |  |  | 5 years
Software under development |  | 6.8 |  |  | — |
|  | $ | 2,712.1 |  |  | 13.4 years
VeriTread |
Business Acquisition [Line Items] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the final allocation of the purchase price to the fair value of assets acquired and liabilities assumed:
Purchase price (cash: $28.1 million; and fair value of previously held equity interest: $4.3 million) | $ | 32.4 |
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 |
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination | The final fair value of identifiable net assets acquired consists of cash and cash equivalents of $3.4 million, trade and other receivables and other current assets of $0.9 million, trade and other liabilities of $1.1 million, and identifiable intangible assets of $14.7 million as summarized in the following table:
Asset |  | Fair value at acquisition |  | Weighted average amortization period
Customer relationships |  | $ | 7.2 |  |  | 5 years
Software and technology assets |  | 7.1 |  |  | 7 years
Trade names and trademarks |  | 0.4 |  |  | 2 years
|  | $ | 14.7 |  |  | 5.9 years

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-1 + Details
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