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Acquisitions (Tables)

12 Months Ended

Dec. 31, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Pro Forma Summary

Revenue and operating income contributed by the 2022 acquisitions subsequent to the date of acquisition were as follows:

						Year Ended December 31,
($ in millions)						2022
Revenue						$	1,404.0
Operating income						66.9

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,
($ in millions, except for per share amounts)						2022						2021
Revenue						$	29,748.1					$	26,200.5
Net income						1,338.2						1,236.9
Basic net income per share						47.47						42.95
Diluted net income per share						47.25						42.64

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,
($ in millions)			2022						2021
Cash paid, net of cash acquired			$	1,240.8					$	2,697.5
Contingent consideration			3.9						—
Redeemable non-controlling interest			—						33.1
Debt issued			—						356.0
Total consideration transferred			$	1,244.7					$	3,086.6

			Year Ended December 31,
($ in millions)			2022						2021
Trade receivables, net			$	0.2					$	1.3
Inventories			228.3						626.2
Franchise value			63.7						—
Goodwill			30.1						—
Property and equipment			379.9						767.5
Other assets			639.1						1,726.2
Floor plan notes payable			(0.7)						(4.0)
Debt and finance lease obligations			(78.5)						—
Other liabilities			(17.4)						(30.6)
Total net assets acquired and liabilities assumed			$	1,244.7					$	3,086.6

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 https://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 https://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 https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472

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