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Acquisitions (Tables) | 6 Months Ended
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Jun. 30, 2018
Business Combinations [Abstract] |
Revenue and Operating Income from Acquisitions | Revenue and net loss contributed by the 2018 acquisitions subsequent to the date of acquisition were as follows (in thousands):
Revenue | $ | 360,442 |
Net loss | $ | (946 | )
Summary of Acquisitions | The following tables summarize the consideration paid for the 2018 acquisitions and the amount of identified assets acquired and liabilities assumed as of the acquisition date (in thousands):
|  | Consideration
Cash paid, net of cash acquired |  | $ | 374,664 |
Debt issued |  | 125,055 |
|  | $ | 499,719 |
Assets Acquired and Liabilities Assumed |
|  | Assets Acquired and Liabilities Assumed
Accounts receivable |  | $ | 732 |
Inventories, net |  | 180,035 |
Property and equipment, net |  | 9,850 |
Other non-current assets |  | 322,006 |
Floor plan notes payable |  | (10,776 | )
Other long-term liabilities |  | (2,128 | )
|  | $ | 499,719 |
Pro Forma Summary of All Acquisitions | The following unaudited proforma summary presents consolidated information as if all acquisitions in the three and six-month periods ended June 30, 2018 and 2017 had occurred on January 1, 2017 (in thousands, except per share amounts):
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2018 |  | 2017 |  | 2018 |  | 2017
Revenue |  | $ | 3,101,600 |  |  | $ | 3,054,987 |  |  | $ | 5,956,427 |  |  | $ | 5,906,047 |
Net income |  | 60,678 |  |  | 56,126 |  |  | 111,419 |  |  | 109,162 |
Basic net income per share |  | 2.45 |  |  | 2.24 |  |  | 4.47 |  |  | 4.35 |
Diluted net income per share |  | 2.44 |  |  | 2.24 |  |  | 4.45 |  |  | 4.34 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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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 -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=84161108&loc=d3e4845-128472 + Details
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