Business Combinations (Tables)

3 Months Ended

Mar. 31, 2023

Business Acquisition [Line Items]

Schedule of consideration transferred

Cash consideration	$	1,714.2
Fair value of common shares issued		3,713.0
Fair value of exchanged IAA equity awards attributable to pre-combination service		13.1
Reimbursement of sell-side acquisition costs		48.8
Repayment of IAA net debt		1,157.1
Total fair value of consideration transferred	$	6,646.2

Schedule of pro forma results

	Three months ended		Three months ended
	March 31, 2023		March 31, 2022
Revenue		988.0		950.7
Net income		91.4		6.4

IAA

Business Acquisition [Line Items]

Schedule of purchase price allocation

Purchase price	$	6,646.2
Assets acquired:
Cash and cash equivalents		161.0
Trade and other receivables		498.7
Prepaid consigned vehicle charges		8.7
Inventory		57.6
Other current assets		31.1
Property, plant and equipment		655.7
Operating lease right-of-use assets		1,252.5
Other non-current assets		34.8
Intangible assets		2,340.0
Liabilities assumed:
Auction proceeds payable		60.7
Trade and other liabilities		250.4
Current operating lease liability		78.0
Long-term operating lease liability		1,166.0
Other non-current liabilities		23.4
Deferred tax liabilities		604.2
Fair value of identifiable net assets acquired		2,857.4
Goodwill acquired on acquisition	$	3,788.8

Schedule of fair values of the identifiable intangible assets acquired and their related estimated useful lives

	Preliminary fair value		Weighted average
Asset	at acquisition		amortization period
Customer relationships	$	2,030.0	9 years
Developed technology		150.0	6 years
Trade names and trademarks		160.0	6 years
Total	$	2,340.0	8.6 years

VeriTread

Business Acquisition [Line Items]

Schedule of purchase price allocation

Total cash consideration paid	$	28.1
Fair value of previously held interest		4.3
Purchase price	$	32.4
Assets acquired:
Cash and cash equivalents		3.4
Trade and other receivables, and other current assets		0.9
Intangible assets		14.7
Liabilities assumed:
Trade and other liabilities		1.1
Fair value of identifiable net assets acquired		17.9
Redeemable non-controlling interest		(8.9)
Non-controlling interest		(1.8)
Goodwill acquired on acquisition	$	25.2

Schedule of fair values of the identifiable intangible assets acquired and their related estimated useful lives

	Preliminary fair value		Weighted average
Asset	at acquisition		amortization period
Customer relationships	$	7.2	5 years
Software and technology assets		7.1	7 years
Trade names and trademarks		0.4	2 years
Total	$	14.7	5.9 years