Acquisitions and Dispositions of Businesses (Tables)

9 Months Ended

Sep. 30, 2022

Acquisitions And Dispositions [Abstract]

Schedule of assets acquired and liabilities assumed

The aggregate purchase price of the 2022 and 2021 acquisitions was allocated as follows (2022 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, 2022		December 31, 2021
Accounts receivable	$	2,026	$	17,878
Inventory	21,278		25,383
Property, plant and equipment	36,254		13,126
Lease right-of-use assets	5,397		25,890
Goodwill	56,902		204,151
Indefinite-lived intangible assets	41,800		22,200
Amortized intangible assets	1,200		99,800
Other assets	474		4,911
Deferred income taxes	241		44,975
Floor plan payables	(10,908)		(16,636)
Other liabilities	(3,798)		(52,567)
Current and noncurrent lease liabilities	(6,482)		(25,593)
Redeemable noncontrolling interest	(2,164)		(6,616)
Noncontrolling interest	(512)		—
Aggregate purchase price, net of cash acquired	$	141,708	$	356,902

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 2021. The unaudited pro forma information also includes the 2021 acquisitions as if they occurred at the beginning of 2020:

	Three Months Ended   September 30				Nine Months Ended   September 30
(in thousands)	2022		2021		2022		2021
Operating revenues	$	1,012,438	$	948,465	$	3,026,240	$	2,830,653
Net income	34,827		49,563		74,491		283,499