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Acquisitions | 9 Months Ended
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Sep. 30, 2021
Business Combination and Asset Acquisition [Abstract] |
Acquisitions | AcquisitionsDuring the third quarter of 2021, the Company completed the acquisitions of various licensees in Europe and North America, for approximately $13 million, plus $4 million for acquired fleet. These investments were in-line with the Company’s strategy to re-acquire licensees when advantageous to expand its footprint of Company-operated locations. The acquired fleet was financed under the Company’s existing financing arrangements. In connection with these acquisitions, approximately $18 million was recorded to other intangibles related to franchise agreements. The license agreements are being amortized over a weighted average useful life of approximately 2 years. The fair value of the assets acquired and liabilities assumed has not yet been finalized and is therefore subject to change.

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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