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ACQUISITIONS (Tables)
 12 Months Ended
Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract]  
Schedule of Business Acquisitions, by Acquisition
The following table summarizes the provisional consideration for the acquisitions:
Cash$400,400 
Class B Common Stock200,958 
Total provisional purchase price consideration$601,358 
The following amounts represent the preliminary determination of the fair value of the identifiable assets acquired and liabilities assumed from RideNow. Any potential adjustments made could be material in relation to the preliminary values presented below.
Estimated fair value of assets acquired:
Cash$34,454 
Contracts in transit10,878 
Accounts receivable10,124 
Inventory127,080 
Prepaid expenses1,785 
Right-of-use assets126,886 
Property & equipment15,509 
Franchise rights282,000 
Other intangible assets, net22,129 
Other assets119 
Total assets acquired630,964 
Estimated fair value of liabilities assumed:
Accounts payable, accrued expenses and other current liabilities43,409 
Notes payable - floor plan47,161 
Lease liabilities130,181 
Notes payable6,549 
Deferred tax liabilities30,548 
Other long-term liabilities6,210 
Total liabilities assumed264,058 
Total net assets acquired366,906 
Goodwill234,452 
Total consideration$601,358 
Business Acquisition, Pro Forma Information The following unaudited supplemental pro forma information presents the financial results as if the RideNow Transaction was completed at January 1, 2020. Pro forma net income for the year ended December 31, 2021 includes income tax benefit of $2,706 reported in the Consolidated Statements of Operations.
December 31,
20212020
Pro forma revenue$1,650,625 $1,348,211 
Pro forma net income$45,565 $18,854 
Net income per share-basic$6.58 $8.63 
Weighted average number of shares-basic6,920,318 2,184,441 
Net income per share-fully diluted$6.42 $5.75 
Weighted average number of shares-fully diluted7,099,041 3,279,699 

    Pro forma adjustments for the year ended December 31, 2021 and 2020, primarily include:
December 31,
20212020
Stock compensation and other administrative costs$29,219 $3,175 
Depreciation and amortization$13,199 $13,607 
Interest expense$40,347 $47,312 
Income tax provision (benefit)$(2,706)$6,305