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Acquisitions (Tables)
 12 Months Ended
Dec. 31, 2018
Business Combinations [Abstract]  
Revenue and Operating Income from Acquisitions
Revenue and operating income contributed by the 2018 acquisitions subsequent to the date of acquisition were as follows (in millions):
Year Ended December 31,
 
2018
Revenue
 
$
913.5

Operating loss
 
(2.6
)
Summary of Consideration Paid for Acquisitions
The following tables summarize the consideration paid in cash and equity securities for the acquisitions and the preliminary amount of identified assets acquired and liabilities assumed as of the acquisition date (in millions):
Consideration paid for the Year Ended December 31,
2018
 
2017
Cash paid, net of cash acquired
$
373.8

 
$
460.4

Equity securities issued
—

 
2.1

Debt issued
125.1

 
1.8

 
$
498.9


$
464.3

Assets acquired and liabilities assumed for the Year Ended December 31,
2018
 
2017
Trade receivables, net
$
0.7

 
$
46.9

Inventories
180.0

 
189.8

Franchise value
29.8

 
73.7

Property and equipment
179.7

 
166.0

Other assets
48.6

 
18.3

Floor plan notes payable
(10.8
)
 
(72.5
)
Debt and capital lease obligations
—

 
(38.7
)
Deferred taxes, net
—

 
(2.0
)
Other liabilities
(2.3
)
 
(24.7
)
 
425.7

 
356.8

Goodwill
73.2

 
107.5

 
$
498.9

 
$
464.3
Pro Forma Summary
The following unaudited pro forma summary presents consolidated information as if the acquisitions had occurred on January 1 of the previous year (in millions, except for per share amounts):
Year Ended December 31,
 
2018
 
2017
Revenue
 
$
12,021.6

 
$
12,039.9

Net income
 
264.4

 
248.9

Basic net income per share
 
10.85

 
9.93

Diluted net income per share
 
10.81

 
9.90