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Acquisitions (Tables)

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

Schedule of Pro Forma Summary

Revenue and operating income contributed by the 2020 acquisitions subsequent to the date of acquisition were as follows:

						Year Ended December 31,
(Dollars in millions)						2020
Revenue						$	866.1
Operating income						28.9

The following unaudited pro forma summary presents consolidated information as if the acquisitions had occurred on January 1 of the previous year:

						Year Ended December 31,
(Dollars in millions, except for per share amounts)						2020						2019
Revenue						$	15,500.9					$	16,043.4
Net income						502.6						321.1
Basic net income per share						21.10						13.83
Diluted net income per share						20.87						13.73

Summary of Consideration Paid for Acquisitions

The following tables summarize the consideration paid for the acquisitions and the preliminary amount of identified assets acquired and liabilities assumed as of the acquisition date:

			Year Ended December 31,
(Dollars in millions)			2020						2019
Cash paid, net of cash acquired			$	1,503.1					$	366.6
Contingent consideration			4.6						—
Debt and finance lease obligations			218.9						26.4
Total consideration paid			$	1,726.6					$	393.0

			Year Ended December 31,
(Dollars in millions)			2020						2019
Trade receivables, net			$	0.2					$	—
Inventories			358.9						105.2
Property and equipment			529.9						124.0
Other assets			858.4						193.1
Floor plan notes payable			(13.1)						—
Other liabilities			(8.5)						(29.3)
			1,725.8						393.0
Goodwill			0.8						—
Total net assets acquired and liabilities assumed			$	1,726.6					$	393.0

X

- 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

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- References

No definition available.

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X

- 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=121647850&loc=d3e4845-128472

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