Acquisitions and Dispositions Acquisitions and Dispositions

3 Months Ended

Mar. 31, 2018

Business Combinations [Abstract]

Business Combination Disclosure [Text Block]

ACQUISITIONS AND DISPOSITIONS

During the three months endedMarch 31, 2018, the Company acquired 5 dealerships in the U.K., inclusive of 8 franchises, and opened one dealership for one awarded franchise. Additionally, the Company acquired 2 dealerships in the U.S., inclusive of 2 franchises. Aggregate consideration paid for these dealerships totaled $76.6 million, including the associated real estate and goodwill. Also included in the consideration paid was $5.1 million of cash received in the acquisition of the dealerships. The purchase prices have been allocated based upon the consideration paid and the estimated fair values of the assets acquired and liabilities assumed at the acquisition dates. The allocation of the purchase prices are preliminary and based on estimates and assumptions that are subject to change within the purchase price allocation periods (generally one year from the respective acquisition date).

During the three months endedMarch 31, 2017, the Company opened one dealership for one awarded franchise in the U.K. and added motorcycles to an existing BMW dealership in Brazil. In addition, during the three months endedMarch 31, 2017, the Company disposed of two dealerships in Brazil representing two franchises.