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Acquisitions (Tables)

9 Months Ended

Sep. 30, 2019

Business Combinations [Abstract]

Revenue and Operating Income from Acquisitions

Revenue and operating income contributed by the 2019 acquisitions subsequent to the date of acquisition were as follows (in millions):

Nine Months Ended September 30,		2019
Revenue		$	100.7
Operating income		1.9

Summary of Acquisitions

The following tables summarize the consideration paid for the 2019 acquisitions and the amount of identified assets acquired and liabilities assumed as of the acquisition date (in millions):

		Consideration
Cash paid, net of cash acquired		$	142.8
Debt issued		26.4
		$	169.2

Assets Acquired and Liabilities Assumed

The following table details the preliminary purchase price allocations (in millions):

		Assets Acquired and Liabilities Assumed
Inventories, net		$	60.0
Property and equipment, net		5.0
Other non-current assets		131.9
Other long-term liabilities		(27.7		)
		$	169.2

Pro Forma Summary of All Acquisitions

The following unaudited proforma summary presents consolidated information as if all acquisitions in the three and nine-month periods ended September 30, 2019 and 2018, had occurred on January 1, 2018 (in millions, except per share amounts):

		Three Months Ended September 30,								Nine Months Ended September 30,
		2019				2018				2019				2018
Revenue		$	3,337.1			$	3,188.9			$	9,557.0			$	9,326.8
Net income		85.2				93.6				204.0				205.6
Basic net income per share		3.67				3.87				8.79				8.34
Diluted net income per share		3.63				3.86				8.74				8.30

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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.

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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.

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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.

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