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ACQUISITIONS (Tables)

9 Months Ended

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

X

- 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

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- References

No definition available.

+ Details

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X

- 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

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