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Acquisitions (Tables) | 3 Months Ended
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Mar. 31, 2021
Business Combinations [Abstract] |
Pro Forma Summary of All Acquisitions | Revenue and operating income contributed by the 2021 acquisitions subsequent to the date of acquisition were as follows (in millions):
Three Months Ended March 31, |  | 2021
Revenue |  | $ | 71.3 |
Operating income |  | 3.8 |
The following unaudited pro forma summary presents consolidated information as if all acquisitions in the three-month periods ended March 31, 2021 and 2020, had occurred on January 1, 2020:
|  |  |  | Three Months Ended March 31,
(in millions, except per share amounts) |  |  |  |  |  | 2021 |  | 2020
Revenue |  |  |  |  |  | $ | 4,463.0 |  |  | $ | 2,948.2 |
Net income |  |  |  |  |  | 160.4 |  |  | 49.6 |
Basic net income per share |  |  |  |  |  | 6.02 |  |  | 2.13 |
Diluted net income per share |  |  |  |  |  | 5.97 |  |  | 2.12 |
Summary of Acquisitions | The following tables summarize the consideration paid for the 2021 acquisitions and the preliminary purchase price allocations for identified assets acquired and liabilities assumed as of the acquisition date:
(in millions) |  | Consideration
Cash paid, net of cash acquired |  | $ | 383.5 |
Assets Acquired and Liabilities Assumed |
(in millions) |  | Assets Acquired and Liabilities Assumed
Inventories, net |  | $ | 88.0 |
Property and equipment, net |  | 3.0 |
Other non-current assets |  | 292.8 |
Other long-term liabilities |  | (0.3) |
|  | $ | 383.5 |

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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=121647850&loc=d3e4845-128472 + Details
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