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Business Acquisition (Tables) | 3 Months Ended
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Mar. 31, 2021
Business Combinations [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the preliminary fair value of the consideration transferred at the date of the acquisition, as well as the calculation of preliminary goodwill based on the excess of consideration over the provisional fair value of net assets acquired:
(Millions of dollars) |  |
Cash paid to shareholders |  | $ | 642.9 |
Less cash and cash equivalents acquired |  | 0.8
Fair value of consideration transferred, net of cash acquired |  | $ | 642.1 |
(Millions of dollars) |  |
Assets acquired: |  |
Accounts receivable |  | $ | 8.0 |
Inventories |  | 24.3 |
Prepaid expenses and other current assets |  | 5.6 |
Property and equipment |  | 429.1 |
Right of use assets |  | 238.1 |
Other assets |  | 5.4 |
Identified intangible assets |  | 106.8 |
Liabilities assumed: |  |
Accounts payable and accrued expenses |  | (68.5) |
Deferred income tax liabilities |  | (59.5) |
Asset retirement obligation |  | (1.2) |
Long term debt, including finance lease obligations |  | (136.5) |
Deferred credits and other liabilities |  | (7.4) |
Operating lease liabilities |  | (238.5) |
Net assets acquired |  | 305.7 |
Goodwill |  | 336.4 |
Fair value of consideration transferred, net of cash and cash equivalents acquired |  | $ | 642.1 |

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- 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=121647850&loc=d3e4845-128472 + Details
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