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Relationship with KAR and Related Entities
6 Months Ended
Jun. 27, 2021
Related Party Transactions [Abstract]  
Relationship with KAR and Related Entities Relationship with KAR and Related Entities
Prior to June 28, 2019, the Company was a subsidiary of KAR Auto Action Services, Inc. ("KAR"). On June 28, 2019, KAR completed the distribution of 100% of the issued and outstanding shares of common stock of IAA and IAA became an independent publicly-traded company.
In connection with the separation (the "Separation") from KAR on June 28, 2019, the Company entered into a non-compete and various other ancillary agreements to effect the Separation and provide a framework for the Company's relationship with KAR after the Separation, including a transition services agreement, a tax matters agreement and an employee matters agreement. See Note 3 - Relationship with KAR and Related Entities in the notes to the consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended December 27, 2020 for additional information.
The Company’s transactions with KAR were not material for the three and six months ended June 27, 2021 and June 28, 2020.