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Convertible Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended
--- | --- | ---
Jun. 30, 2020 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021
Temporary Equity [Line Items] |  |  |  |
Common stock, par value (in dollars per share) |  | $ 0.01 | $ 0.01 |
Value of preferred stock dividends paid in cash |  | $ 44.4 |  |
Value of preferred stock dividends paid in-kind |  |  |  | $ 41.1
Series A Preferred Stock [Member] |  |  |  |
Temporary Equity [Line Items] |  |  |  |
Series A Preferred Stock shares issued | 550,000 |  |  |
Series A Preferred Stock par value per share | $ 0.01 | $ 0.01 |  |
Purchase price per share | $ 1,000 |  |  |
Proceeds from issuance of Series A Preferred Stock | $ 550.0 |  |  |
Series A Preferred stock shares authorized |  | 1,500,000 |  |
Liquidation preference per share |  | $ 1,000 |  |
Cumulative dividend rate |  | 7.00% |  |
Number Of dividend payments initially paid in-kind |  | 8 |  |
Value of preferred stock dividends paid in cash |  | $ 44.4 | $ 22.2 |
Value of preferred stock dividends paid in-kind |  |  | $ 21.6 | $ 41.1
Series A Preferred Stock conversion term for holders |  | 1 year |  |
Conversion price per share |  | $ 17.75 |  |
Conversion ratio - number of shares of common stock per share of Series A Preferred Stock |  | 56.3380 |  |
Series A Preferred Stock conversion term for company |  | 3 years |  |
Closing price of KAR stock necessary for Series A Preferred Stock to be convertible |  | $ 31.0625 |  |
Number Of Trading Days Required For Common Stock Price To Be Above A Certain Amount Before Company Can Exercise Conversion Of Series A Preferred Stock |  | 20 days |  |
Number Of Consecutive Trading Days Within Which 20 Day Requirement Must Be Met For Common Stock Price To Be Above A Certain Amount |  | 30 days |  |
Series A Preferred Stock Redemption Term For Company |  | 6 years |  |
Redemption Price By Company Between Six and Seven Years As A Percentage Of Liquidation Preference Plus Accrued And Unpaid Dividends |  | 105.00% |  |
Redemption Price By Company After Seven Years As A Percentage Of Liquidation Preference Plus Accrued And Unpaid Dividends |  | 100.00% |  |
Redemption Price After Change Of Control As A Percentage of Liquidation Preference And Accrued Dividends |  | 105.00% |  |
Minimum | Periphas [Member] | Series A Preferred Stock [Member] |  |  |  |
Temporary Equity [Line Items] |  |  |  |
Standstill restrictions, ownership percentage |  | 50.00% |  |
Term of standstill restrictions |  | 3 years |  |
Minimum | Apax [Member] | Series A Preferred Stock [Member] |  |  |  |
Temporary Equity [Line Items] |  |  |  |
Standstill restrictions, ownership percentage |  | 25.00% |  |
Term of standstill restrictions |  | 3 years |  |

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- Definition Minimum Closing Price Of KAR Stock Necessary For Series A Preferred Stock To Be Convertible Into Common Stock At The Election Of The Company + References No definition available. + Details
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- Definition The per share liquidation preference (or restrictions) of stock classified as temporary equity that has a preference in involuntary liquidation considerably in excess of the par or stated value of the shares. The liquidation preference is the difference between the preference in liquidation and the par or stated values of the share. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer. + References No definition available. + Details
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