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Acquisitions and Divestitures | 9 Months Ended
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Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract] |
Acquisitions and Divestitures | ACQUISITIONS AND DIVESTITURES During the nine months ended September 30, 2023, we acquired RepairSmith, a mobile solution for automotive repair and maintenance, and we also purchased seven stores. Acquisitions are included in the Unaudited Condensed 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, deferred tax assets and liabilities, and residual goodwill. We did not purchase any stores during the nine months ended September 30, 2022. The acquisitions that occurred during the nine months ended September 30, 2023, 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 entire nine month periods ended September 30, 2023 and 2022, revenue and net income would not have been materially different from our reported revenue and net income for these periods. We did not divest any stores during the nine months ended September 30, 2023. We divested three stores during the nine months ended September 30, 2022. We recognized net gains related to divestitures of $16.1 million during the nine months ended September 30, 2022, which are included in Other Income, Net (within Operating Income) in our Consolidated Statement of Operations. The financial condition and results of operations of these businesses were not material to our consolidated financial statements.

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