Business Combination	3 Months Ended
Mar. 31, 2020
Business Combination
Business combination	NOTE 2 – BUSINESS COMBINATION After the close of business on November 29, 2019, the Company completed the acquisition of Mayoreo de Autopartes y Aceites, S.A. de C.V. (“Mayasa”), a specialty retailer of automotive aftermarket parts headquartered in Guadalajara, Jalisco, Mexico pursuant to a stock purchase agreement. The results of Mayasa’s operations have been included in the Company’s condensed consolidated financial statements beginning from the date of acquisition. Pro forma results of operations related to the acquisition of Mayasa are not presented as Mayasa’s results are not material to the Company’s results of operations. The purchase price allocation process, which is still ongoing, consists of collecting data and information to enable the Company to value the assets acquired and liabilities assumed as a result of the business combination. The Company has substantially completed purchase price allocations related to working capital, including inventory, accounts receivable and accounts payable, and property, plant and equipment. Potential identifiable intangible assets that continue to be evaluated include, but are not limited to, trade names and trademarks, non-compete agreements and customer relationships. In addition, other assets, including internal use software, and other liabilities may be identified, valued and recorded. The Company has engaged a third party valuation specialist to assist with the valuation of the intangible assets and internal use software. This process is ongoing and the Company remains in the initial measurement period due to constrained resources resulting from the Company’s focus on managing through the novel coronavirus (“COVID-19”) pandemic. The preliminary purchase price allocation is provisional and will change as additional information pertaining to the acquisition date is obtained and valuation work is completed during the initial measurement period. The Company’s preliminary assessment resulted in the initial recognition of $128.1 million of goodwill and intangible assets included in “Goodwill” on the accompanying Condensed Consolidated Balance Sheets as of December 31, 2019. Goodwill generated from this acquisition is not amortizable for tax purposes.

Business Combination

3 Months Ended

Mar. 31, 2020

NOTE 2 – BUSINESS COMBINATION

After the close of business on November 29, 2019, the Company completed the acquisition of Mayoreo de Autopartes y Aceites, S.A. de C.V. (“Mayasa”), a specialty retailer of automotive aftermarket parts headquartered in Guadalajara, Jalisco, Mexico pursuant to a stock purchase agreement. The results of Mayasa’s operations have been included in the Company’s condensed consolidated financial statements beginning from the date of acquisition. Pro forma results of operations related to the acquisition of Mayasa are not presented as Mayasa’s results are not material to the Company’s results of operations.

The purchase price allocation process, which is still ongoing, consists of collecting data and information to enable the Company to value the assets acquired and liabilities assumed as a result of the business combination. The Company has substantially completed purchase price allocations related to working capital, including inventory, accounts receivable and accounts payable, and property, plant and equipment. Potential identifiable intangible assets that continue to be evaluated include, but are not limited to, trade names and trademarks, non-compete agreements and customer relationships. In addition, other assets, including internal use software, and other liabilities may be identified, valued and recorded. The Company has engaged a third party valuation specialist to assist with the valuation of the intangible assets and internal use software. This process is ongoing and the Company remains in the initial measurement period due to constrained resources resulting from the Company’s focus on managing through the novel coronavirus (“COVID-19”) pandemic.

The preliminary purchase price allocation is provisional and will change as additional information pertaining to the acquisition date is obtained and valuation work is completed during the initial measurement period. The Company’s preliminary assessment resulted in the initial recognition of $128.1 million of goodwill and intangible assets included in “Goodwill” on the accompanying Condensed Consolidated Balance Sheets as of December 31, 2019. Goodwill generated from this acquisition is not amortizable for tax purposes.