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Acquisitions and Divestitures | 9 Months Ended
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Sep. 30, 2020
Business Combination and Asset Acquisition [Abstract] |
Acquisitions and Divestitures | ACQUISITIONS AND DIVESTITURES During the nine months ended September 30, 2021, we purchased 11 stores and 1 collision center operating in Hilton Head and Columbia, South Carolina, and Savannah, Georgia. Acquisitions are included in the Unaudited Condensed Consolidated Financial Statements from the date of acquisition. The purchase price allocations for this business combination is preliminary and subject to final adjustments. We did not purchase any stores during the nine months ended September 30, 2020. The acquisition that occurred during the nine months ended September 30, 2021, was not material to our financial condition or results of operations. Additionally, on a pro forma basis as if the results of this acquisition had been included in our consolidated results for the entire nine month periods ended September 30, 2021 and 2020, revenue and net income would not have been materially different from our reported revenue and net income for these periods. We divested two stores and three collision centers during the nine months ended September 30, 2021. We divested one store and terminated one franchise during the nine months ended September 30, 2020. In October 2021, we announced that we have entered into an agreement to acquire Priority 1 Automotive Group in Maryland. As previously disclosed, we have also entered into an agreement to sell up to 17 collision centers. These transactions remain subject to customary closing conditions and are expected to close in the fourth quarter of 2021.

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