XML 47 R35.htm IDEA: XBRL DOCUMENT v3.25.3
Stockholders' Equity (Tables)
 9 Months Ended
Sep. 30, 2025
Equity [Abstract]  
Schedule Of Sale Of Stock
The following table summarizes the activity under the ATM Program for the three and nine months ended September 30, 2025 and 2024.
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
(in millions, except share and per share amounts)
Shares of Class A common stock issued1,476,348 — 1,476,348 3,047,468 
Weighted-average issuance price per share$364.93 $— $364.93 $114.85 
Gross proceeds (1)
$539 $— $539 $350 
(1) Net proceeds were $536 million, zero, $536 million, and $347 million after deducting $3 million, zero, $3 million, and $3 million of commissions and other offering expenses incurred.
Schedule of Conversions of Stock
The exchanges affected pursuant to the Exchange Agreement during the three and nine months ended September 30, 2025 and 2024 were as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
(in thousands)
LLC Units exchanged by certain LLC Unitholders
2,961 5,899 4,051 6,035 
Shares of Class B common stock retired
2,345 4,684 3,000 4,684 
Newly issued Class A common stock
2,368 4,718 3,239 4,820 
LLC Units received by Carvana Co.
2,960 5,897 4,048 6,025