ACQUISITIONS AND DIVESTITURES (Tables)

3 Months Ended

Mar. 31, 2022

Business Combinations and Discontinued Operations and Disposal Groups [Abstract]

Schedule of Preliminary Purchase Consideration

The sources of the preliminary purchase consideration are as follows:

	(In millions)
Cash, net of cash acquired	$	195.0
Common stock offering	666.9
Senior notes	1,578.5
Real estate facility	513.0
New vehicle floor plan facility	183.5
Used vehicle floor plan facility	51.0
Payable to sellers	6.0
Preliminary purchase price, net of cash acquired	$	3,193.9

Schedule of Business Acquisitions

The following table summarizes the amounts recorded based on preliminary estimates of fair value:

	(In millions)
Summary of Assets Acquired and Liabilities Assumed
Assets
Cash and cash equivalents	$	287.4
Investments	133.5
Contracts-in-transit, net	99.5
Accounts receivable, net	110.0
Inventories, net	285.0
Other current assets	25.4
Total current assets	940.8
Property and equipment, net	792.6
Goodwill	1,639.3
Intangible franchise rights	870.0
Operating lease right-of-use assets	34.1
Deferred income taxes	136.5
Other long-term assets	5.6
Total assets acquired	4,418.9
Liabilities
Accounts payable and accrued liabilities	234.0
Operating lease liabilities	34.1
Deferred revenue	644.3
Other long-term liabilities	25.2
Total liabilities assumed	937.6
Net assets acquired	$	3,481.3