XML 38 R27.htm IDEA: XBRL DOCUMENT v3.24.3

ACQUISITIONS AND DIVESTITURES (Tables)

9 Months Ended

Sep. 30, 2024

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Business Acquisitions

The sources of the preliminary purchase consideration are as follows:

			(In millions)
Cash			$	941.3
New vehicle floor plan facility			256.1
Used vehicle floor plan facility			307.1
Preliminary purchase price			$	1,504.5

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the amounts recorded based on preliminary estimates of fair value:

Summary of Assets Acquired and Liabilities Assumed
			(In millions)
Assets
Inventories, net			$	310.6
Other current assets			13.7
Assets held for sale			100.9
Total current assets			425.2
Property and equipment, net			418.3
Goodwill			239.9
Intangible franchise rights			430.3
Operating lease right-of-use assets			11.2
Total assets acquired			$	1,524.9
Liabilities
Operating lease liabilities			$	11.2
Other liabilities			9.1
Total liabilities assumed			20.3
Net assets acquired			$	1,504.5

X

- References

No definition available.

+ Details

Name:	us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-3

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

+ Details

Name:	us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

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

+ Details

Name:	us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration