XML 64 R46.htm IDEA: XBRL DOCUMENT v3.22.0.1

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2021

Business Combination and Asset Acquisition [Abstract]

Schedule of Pro Forma Summary

Revenue and operating income contributed by the 2021 acquisitions subsequent to the date of acquisition were as follows:

						Year Ended December 31,
(Dollars in millions)						2021
Revenue						$	4,130.0
Operating income						211.3

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

						Year Ended December 31,
(Dollars in millions, except for per share amounts)						2021						2020
Revenue						$	25,519.8					$	19,528.5
Net income						1,123.7						621.4
Basic net income per share						39.02						26.08
Diluted net income per share						38.73						25.80

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)			2021						2020
Cash paid, net of cash acquired			$	2,697.5					$	1,503.1
Contingent consideration			—						4.6
Preliminary fair value of redeemable non-controlling interest			33.1						—
Debt and finance lease obligations			356.0						218.9
Total consideration paid			$	3,086.6					$	1,726.6

			Year Ended December 31,
(Dollars in millions)			2021						2020
Trade receivables, net			$	1.3					$	0.2
Inventories			626.2						358.9
Property and equipment			767.5						529.9
Other assets			1,726.2						858.4
Floor plan notes payable			(4.0)						(13.1)
Other liabilities			(30.6)						(8.5)
			3,086.6						1,725.8
Goodwill			—						0.8
Total net assets acquired and liabilities assumed			$	3,086.6					$	1,726.6

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

+ Details

Name:	us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_BusinessCombinationAndAssetAcquisitionAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

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=123413009&loc=d3e4845-128472

+ Details

Name:	us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration