Business Combinations

6 Months Ended

Jun. 30, 2020

Acquisition activity during the three and six months ended June 30, 2020 was immaterial.

In February 2019, we completed our acquisition of the U.K.-based classifieds site, Motors.co.uk, for $93 million in cash. We made the acquisition to increase our international presence and give buyers access to more listings.

The aggregate purchase consideration was allocated as follows (in millions):


	Motors.co.uk
Goodwill	$	65
Purchased intangible assets	30
Net liabilities	(2)
Total	$	93

We assigned the goodwill to our Classifieds segment. The goodwill recognized is primarily attributable to expected synergies and the assembled workforce of Motors.co.uk. We generally do not expect goodwill to be deductible for income tax purposes.

Our condensed consolidated financial statements include the operating results of Motors.co.uk from the date of acquisition. Separate post acquisition operating results and pro forma results of operations for this acquisition have not been presented as the effect of the acquisition is not material to our financial results.