Acquisitions

9 Months Ended

Sep. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Acquisitions

ACQUISITIONS

We did not purchase any stores during the nine months ended September 30, 2022. During the nine months ended September 30, 2021, we purchased 11 stores and 1 collision center operating in South Carolina and Georgia. During the fourth quarter of 2021, we purchased 9 stores and 3 collision centers operating in Maryland.

The amounts of revenue and earnings of the stores and collision centers acquired during 2021 included in our Unaudited Condensed Consolidated Statement of Operations were $258.2 million and $10.2 million, respectively, for the three months ended September 30, 2022, and $757.7 million and $31.0 million, respectively, for the nine months ended September 30, 2022. Our supplemental pro forma revenue and net income from continuing operations for the three and nine months ended September 30, 2021, had the acquisition dates been January 1, 2021, are as follows:

Unaudited supplemental pro forma:	Three Months Ended September 30, 2021		Nine Months Ended September 30, 2021
Revenue	$	6,607.7	$	19,913.9
Net income from continuing operations	$	373.5	$	1,015.4

In October 2022, we acquired CIG Financial, an auto finance company headquartered in Irvine, California. This acquisition is not material to our financial condition or results of operations. Additionally, on a pro forma basis as if the results of this acquisition had been included in our consolidated results for the entire nine month periods ended September 30, 2022 and 2021, revenue and net income would not have been materially different from our reported revenue and net income for these periods.

In October 2022, we also announced that we have entered into an agreement to acquire four automotive retail stores in Colorado.