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Business Combinations (Tables)
9 Months Ended
Sep. 30, 2014
Business Combinations  
Summary of the aggregate consideration paid and the aggregate amounts of the assets acquired and liabilities assumed

 

 

September 30

 

 

 

2014

 

2013

 

Accounts receivable

 

$

0.7

 

$

20.1

 

Inventory

 

29.1

 

124.3

 

Other current assets

 

1.2

 

2.8

 

Property and equipment

 

4.1

 

26.1

 

Indefinite-lived intangibles

 

57.1

 

133.1

 

Other non-current assets

 

 

8.4

 

Current liabilities

 

(2.6

)

(94.1

)

Non-current liabilities

 

(2.2

)

0.5

 

Total consideration

 

87.4

 

221.2

 

Seller financed/assumed debt

 

(1.2

)

 

Cash used in dealership acquisitions

 

$

86.2

 

$

221.2

 

 

Summary of unaudited consolidated pro forma results of operations

 

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

 

 

 

2014

 

2013

 

2014

 

2013

 

Revenues

 

$

4,417.9 

 

$

4,115.0 

 

$

12,916.0 

 

$

11,997.8 

 

Income from continuing operations

 

76.4 

 

73.5 

 

222.9 

 

216.6 

 

Net income

 

74.5 

 

72.7 

 

215.0 

 

215.2 

 

Income from continuing operations per diluted common share

 

$

0.85 

 

$

0.81 

 

$

2.46 

 

$

2.39 

 

Net income per diluted common share

 

$

0.83 

 

$

0.80 

 

$

2.38 

 

$

2.38