Acquisitions

12 Months Ended

Dec. 31, 2012

Business Combinations [Abstract]

Acquisitions

ACQUISITIONS

We purchased six stores and related assets during 2012, one in 2011, and five in 2010. The aggregate purchase price for these stores was $203.7 million in 2012, $64.2 million in 2011, and $73.1 million in 2010. The 2012 acquisitions were completed on December 21, 2012, when we acquired Boardwalk Audi, Boardwalk Porsche, Boardwalk Volkswagen, Park Cities Volkswagen, and McKinney Volkswagen in the Dallas, Texas market and Spring Chrysler Jeep Dodge Ram in the Houston, Texas market. Acquisitions are included in the Consolidated Financial Statements from the date of acquisition. The purchase price allocations for the business combinations in 2012 are tentative and subject to final adjustment.

The following table summarizes the consideration paid and the estimated fair values of the assets acquired and liabilities assumed at the acquisition date for the six stores acquired during 2012.

Inventory	$	113.0
Property and equipment	46.0
Goodwill	65.2
Franchise rights - indefinite-lived	76.8
Other intangible assets	0.2
Other assets	3.2
Vehicle floorplan payable-non-trade	(99.9		)
Other liabilities	(0.8		)
Aggregate purchase price	203.7
Capital leases and other obligations	(62.1		)
Cash used in business acquisitions, net of cash acquired	$	141.6

The goodwill was assigned to the Domestic, Import, and Premium Luxury reporting units in the amounts of $8.8 million, $15.8 million, and $40.6 million, respectively. We anticipate that substantially all of the goodwill recorded in 2012 will be deductible for federal income tax purposes.

From the December 21, 2012 acquisition date to December 31, 2012, the amounts of revenue and net income from continuing operations of the six stores acquired included in our Consolidated Statement of Income for the year ended December 31, 2012, were not material. Our unaudited supplemental pro forma revenue and net income from continuing operations had the acquisition date been January 1, 2011, are as follows:

	Years Ended December 31,
Supplemental pro forma:	2012		2011
Revenue	$	16,241.3	$	14,326.9
Net income from continuing operations	$	330.4	$	291.2

The unaudited supplemental pro forma revenue and net income from continuing operations are presented for informational purposes only and may not necessarily reflect the future results of operations of AutoNation or what the results of operations would have been had we owned and operated these businesses as of January 1, 2011.