Acquisitions and Dispositions of Businesses (Tables)

12 Months Ended

Dec. 31, 2019

Acquisitions And Dispositions [Abstract]

Schedule of assets acquired and liabilities assumed

The aggregate purchase price of these acquisitions was allocated as follows, based on acquisition date fair values to the following assets and liabilities:

	Purchase Price Allocation
	Year Ended December 31
(in thousands)	2019			2018			2017
Accounts receivable	$	6,762		$	2,344		$	12,502
Inventory	34,134			1,268			25,253
Property, plant and equipment	56,391			1,518			29,921
Lease right-of-use assets	100,364			—			—
Goodwill	84,515			41,840			143,149
Indefinite-lived intangible assets	46,900			—			33,800
Amortized intangible assets	21,291			78,427			170,658
Other assets	8,308			5,198			1,880
Floor plan payables	(25,755		)	—			—
Pension and other postretirement benefits liabilities	—			—			(59,116		)
Other liabilities	(42,555		)	(7,678		)	(12,177		)
Deferred income taxes	(2,703		)	(4,900		)	(37,289		)
Current and noncurrent lease liabilities	(100,990		)	—			—
Redeemable noncontrolling interest	(1,715		)	—			(3,666		)
Noncontrolling interest	(1,154		)	—			—
Aggregate purchase price, net of cash acquired	$	183,793		$	118,017		$	304,915

Acquisition Pro Forma Financial Information

The following unaudited pro forma financial information presents the Company’s results as if the current year acquisitions had occurred at the beginning of 2018. The unaudited pro forma information also includes the 2018 acquisitions as if they occurred at the beginning of 2017 and the 2017 acquisitions as if they had occurred at the beginning of 2016:

	Year Ended December 31
(in thousands)	2019		2018		2017
Operating revenues	$	3,058,872	$	3,166,907	$	2,725,046
Net income	326,927		275,074		311,397

Information related to a Disposal Group

The revenue and operating income related to the KU business disposed of is as follows:

	Year Ended December 31
(in thousands)		2018		2017
Revenue		$	91,526	$	430,645
Operating income		213		17,869