Business Combinations (Tables)

3 Months Ended

Mar. 31, 2024

The purchase price was determined as follows:


Cash consideration	$	1,714.2
Fair value of common shares issued	3,712.9
Fair value of exchanged IAA equity awards attributable to pre-combination service	13.1
Reimbursement of sell-side acquisition costs	48.8
Repayment of IAA net debt	1,157.1
Total fair value of consideration transferred	$	6,646.1


Purchase price	$	6,646.1

Assets acquired:
Cash and cash equivalents	166.6
Trade and other receivables	497.3

Inventory	57.1
Other current assets	28.0
Income taxes receivable	0.6
Property, plant and equipment	618.5
Operating lease right-of-use assets	1,289.7
Other non-current assets	34.8
Intangible assets	2,712.1

Liabilities assumed:
Auction proceeds payable	60.7
Trade and other liabilities	257.0
Current operating lease liability	77.5
Income taxes payable	3.5
Long-term operating lease liability	1,192.7
Other non-current liabilities	24.3
Deferred tax liabilities	689.5

Fair value of identifiable net assets acquired	3,099.5
Goodwill acquired on acquisition	$	3,546.6

The following table summarizes the final fair values of the identifiable intangible assets acquired:


Asset	Fair value at acquisition		Weighted average amortization period
Customer relationships	$	2,293.5	15 years
Developed technology	245.2		4 years
Trade names and trademarks	166.6		5 years
Software under development	6.8		—
Total	$	2,712.1	13.4 years




Purchase price	$	32.4

Fair value of identifiable net assets acquired	17.9
Redeemable non-controlling interest	(8.9)
Non-controlling interest	(1.8)

Goodwill acquired on acquisition	$	25.2

Asset

Fair value
at acquisition

Weighted average
amortization period

Customer relationships

7.2

5 years

Software and technology assets

7.1

7 years

Trade names and trademarks

0.4

2 years

Total

14.7

5.9 years