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ACQUISITIONS (Tables) | 9 Months Ended
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Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Schedule of recognized identified assets acquired and liabilities assumed | The following table summarizes the consideration paid and aggregate amounts of assets acquired and liabilities assumed as of the Acquisition Date (in millions):
Total consideration |  | $ | 517.0 |
Identifiable assets acquired and liabilities assumed |  |
Cash |  | $ | 23.4 |
Contracts-in-transit and vehicle receivables, net |  | 27.6 |
Accounts receivable, net |  | 47.8 |
Inventories |  | 384.3 |
Prepaid expenses and other current assets |  | 13.0 |
Property and equipment |  | 316.8 |
Operating lease assets |  | 72.3 |
Long-term deferred tax asset |  | 19.3 |
Total assets acquired |  | 904.6 |
Floorplan notes payable |  | 236.4 |
Accounts payable |  | 204.6 |
Accrued expenses |  | 54.5 |
Operating lease liabilities |  | 72.3 |
Other liabilities |  | 5.9 |
Total liabilities assumed |  | 573.7 |
Total identifiable net assets |  | 330.9 |
Goodwill |  | $ | 186.1 |
Pro forma information | The following unaudited pro forma financial information presents consolidated information of the Company as if the Inchcape Acquisition had occurred on January 1, 2023 (in millions):
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2024 |  | 2023 |  | 2024 |  | 2023
Revenues |  | $ | 5,446.0 |  |  | $ | 5,403.0 |  |  | $ | 15,952.7 |  |  | $ | 15,432.2 |
Net income |  | $ | 157.1 |  |  | $ | 191.2 |  |  | $ | 431.6 |  |  | $ | 478.8 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
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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 -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-1 + Details
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