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Acquisitions
 12 Months Ended
Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]  
Acquisitions ACQUISITIONS
During the fourth quarter of 2022, we acquired four stores operating in Colorado and CIG Financial, an auto finance company headquartered in Irvine, California. These acquisitions were not material to our financial condition or results of operations. Additionally, on a pro forma basis as if the results of these acquisitions had been included in our consolidated results for the full year ended December 31, 2022 and 2021, revenue and net income would not have been materially different from our reported revenue and net income for these periods. Acquisitions are included in the Consolidated Financial Statements from the date of acquisition. The purchase price allocations for these business combinations are preliminary and subject to final adjustments, primarily related to the valuation of working capital amounts and residual goodwill.
During 2021, we purchased 20 stores and 4 collision centers operating in South Carolina, Georgia, and Maryland. The following table summarizes the consideration paid and estimated fair values of the assets acquired and liabilities assumed at the acquisition dates for the stores acquired during 2021.
Inventory $46.6 
Property and equipment282.8 
Goodwill 51.6 
Franchise rights - indefinite-lived 232.4 
Other assets 17.7 
Vehicle floorplan payable - non-trade (15.1)
Other liabilities (2.8)
Aggregate purchase price $613.2 
Finance lease obligations(180.5)
Cash used in business acquisition, net of cash acquired $432.7 
The goodwill was assigned to the Domestic, Import, Premium Luxury, and Collision Centers reporting units in the amounts of $1.5 million, $15.3 million, $30.3 million, and $4.6 million, respectively. Substantially all of the goodwill recorded in 2021 will be deductible for federal income tax purposes.
From each acquisition date to December 31, 2021, the amounts of revenue and earnings of the stores and collision centers acquired during 2021 included in our Consolidated Statement of Income for the year ended December 31, 2021, were $176.9 million and $6.9 million, respectively. Our supplemental pro forma revenue and net income from continuing operations had the acquisition dates been January 1, 2020 are as follows:
Years Ended December 31,
Unaudited supplemental pro forma:20212020
Revenue $26,544.2 $21,074.8 
Net income from continuing operations $1,407.0 $404.1 
On January 26, 2023, we closed on the acquisition of RepairSmith, a mobile solution for automotive repair and maintenance, headquartered in Los Angeles, California, for approximately $190 million.