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ACQUISITIONS AND DIVESTITURES (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2025
Discontinued Operations and Disposal Groups [Abstract] |
Business Combination | The sources of the preliminary purchase consideration are as follows:
| (In millions)
New vehicle floor plan facility | $ | 292.0 |
Used vehicle floor plan facility | 300.0 |
Revolving credit facility | 645.4 |
Real estate facility | 546.5 |
Preliminary purchase price | $ | 1,783.9 |
Business Combination, Recognized Asset Acquired and Liability 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 | $ | 388.5 |
Other current assets | 60.3 |
Total current assets | 448.8 |
Property and equipment, net | 614.8 |
Goodwill | 290.1 |
Intangible franchise rights | 463.2 |
Operating lease right-of-use assets | 39.8 |
Total assets acquired | $ | 1,856.7 |
Liabilities |
Operating lease liabilities | (39.8) |
Other liabilities | (33.0) |
Total liabilities assumed | (72.8) |
Net assets acquired | $ | 1,783.9 |
Business Combination, Pro Forma Information | The following represents the unaudited pro forma information as if the Herb Chambers acquisition had been included in the consolidated results of the Company since January 1, 2024:
| For the Three Months Ended September 30,
| 2025 |  | 2024
| (In millions)
| (Unaudited)
Pro forma revenue | $ | 5,441.6 |  |  | $ | 4,924.1 |
Pro forma net income | $ | 146.1 |  |  | $ | 128.5 |
| For the Nine Months Ended September 30,
| 2025 |  | 2024
| (In millions)
| (Unaudited)
Pro forma revenue | $ | 15,248.2 |  |  | $ | 14,758.7 |
Pro forma net income | $ | 439.3 |  |  | $ | 297.3 |

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