Business Combinations

3 Months Ended

Mar. 31, 2020

Business Combinations

Business Combinations

6. Business Combinations

During the three months ended March 31, 2020, we made no acquisitions. During the three months ended March 31, 2019, we acquired one dealership related to our Commercial Vehicle Distribution business in New Zealand. Our financial statements include the results of operations of the acquired entity from the date of acquisition. The fair value of the assets acquired and liabilities assumed have been recorded in our consolidated condensed financial statements, and may be subject to adjustment pending completion of final valuation.

A summary of the aggregate consideration paid and the aggregate amounts of the assets acquired and liabilities assumed for the three months ended March 31, 2019 follows:

		March 31,
	2019
Accounts receivable	$	—
Inventories		0.5
Other current assets		—
Property and equipment		0.2
Indefinite-lived intangibles		0.4
Other noncurrent assets		0.1
Current liabilities		(0.1)
Noncurrent liabilities		—
Total cash used in acquisitions	$	1.1

The following unaudited consolidated pro forma results of operations of PAG for the three months ended March 31, 2019 give effect to acquisitions consummated during 2019 as if they had occurred effective at the beginning of the period:

	March 31,
	2019
Revenues	$	5,844.7
Income from continuing operations		104.1
Net income		104.1
Income from continuing operations per diluted common share	$	1.23
Net income per diluted common share	$	1.23