Acquisitions and Dispositions of Businesses (Tables)

12 Months Ended

Dec. 31, 2020

Acquisitions And Dispositions [Abstract]

Schedule of assets acquired and liabilities assumed

The aggregate purchase price of these acquisitions was allocated as follows, based on acquisition date fair values to the following assets and liabilities:

	Purchase Price Allocation
	Year Ended December 31
(in thousands)	2020		2019		2018
Accounts receivable	$	745	$	6,762	$	2,344
Inventory	3,496		34,134		1,268
Property, plant and equipment	3,346		56,391		1,518
Lease right-of-use assets	6,580		98,505		—
Goodwill	73,951		84,669		41,840
Indefinite-lived intangible assets	—		46,900		—
Amortized intangible assets	14,589		21,291		78,427
Other assets	975		8,308		5,198
Deferred income taxes	15,958		(2,703)		(4,900)
Floor plan payables	—		(25,755)		—
Other liabilities	(14,917)		(42,555)		(7,678)
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	$	118,017

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 and the 2018 acquisitions as if they had occurred at the beginning of 2017:

	Year Ended December 31
(in thousands)	2020		2019		2018
Operating revenues	$	2,896,476	$	3,089,712	$	3,166,907
Net income	293,514		304,734		275,074

Information related to a Disposal Group

The revenue and operating income related to the KU business disposed of is as follows:

	Year Ended December 31
(in thousands)	2018
Revenue	$	91,526
Operating income	213