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Subsequent Event
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6 Months Ended |
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Jun. 30, 2012
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| Subsequent Event | 16. Subsequent Event
Acquisition of CNH Capital’s Insurance Agencies
In July 2012, the Company completed the acquisition of CNH Capital Insurance Agency Inc. and CNH Capital Canada Insurance Agency, Ltd., collectively known as “CNH Capital Insurance agencies,” from CNH Capital, the financial services business of CNH Global N.V. The acquisition will allow the Company to enhance and expand CNH Capital’s offering of equipment extended service contracts and other insurance products to Case IH, Case Construction, New Holland Agriculture and New Holland Construction equipment dealers in the United States and Canada. The Company purchased the CNH Capital Insurance agencies for approximately $34,000. Additionally, the Company entered into service and license agreements with CNH Capital whereby the Company will make future payments based on gross revenues of the CNH Capital Insurance agencies. |