Acquisitions and Dispositions of Businesses (Tables)

9 Months Ended

Sep. 30, 2020

Acquisitions And Dispositions [Abstract]

Schedule of assets acquired and liabilities assumed

The aggregate purchase price of the 2020 and 2019 acquisitions was allocated as follows (2020 on a preliminary basis), based on acquisition date fair values to the following assets and liabilities:

	Purchase Price Allocation
	Nine Months Ended		Year Ended
(in thousands)	September 30, 2020		December 31, 2019
Accounts receivable	$	745	$	6,762
Inventory	3,496		34,134
Property, plant and equipment	3,346		56,391
Lease right-of-use assets	6,580		98,505
Goodwill	76,609		84,669
Indefinite-lived intangible assets	—		46,900
Amortized intangible assets	14,589		21,291
Other assets	975		8,308
Deferred income taxes	13,476		(2,703)
Floor plan payables	—		(25,755)
Other liabilities	(15,093)		(42,555)
Current and noncurrent lease liabilities	(6,593)		(99,131)
Redeemable noncontrolling interest	(6,005)		(1,715)
Noncontrolling interest	—		(1,154)
Aggregate purchase price, net of cash acquired	$	92,125	$	183,947

Acquisition Pro Forma Financial Information

The following unaudited pro forma financial information presents the Company’s results as if the current year acquisitions had occurred at the beginning of 2019. The unaudited pro forma information also includes the 2019 acquisitions as if they occurred at the beginning of 2018:

	Three Months Ended   September 30				Nine Months Ended   September 30
(in thousands)	2020		2019		2020		2019
Operating revenues	$	717,049	$	765,391	$	2,109,425	$	2,313,400
Net income	78,226		39,129		56,616		162,855