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Acquisitions (Tables)

9 Months Ended

Sep. 30, 2021

Business Combination and Asset Acquisition [Abstract]

Pro Forma Summary of All Acquisitions

Revenue and operating income contributed by the 2021 acquisitions subsequent to the date of acquisition were as follows (in millions):

Nine Months Ended September 30,						2021
Revenue						$	2,385.9
Operating income						121.9

The following unaudited pro forma summary presents consolidated information as if all acquisitions in the three and nine-month periods ended September 30, 2021 and 2020, had occurred on January 1, 2020:

						Three Months Ended September 30,												Nine Months Ended September 30,
(in millions, except per share amounts)						2021						2020						2021						2020
Revenue						$	6,483.3					$	5,840.4					$	18,699.8					$	15,455.9
Net income attributable to Lithia Motors, Inc.						317.8						216.9						825.4						400.5
Basic earnings attributable to Lithia Motors, Inc. per share						10.50						9.49						29.10						17.43
Diluted earnings attributable to Lithia Motors, Inc. per share						10.44						9.37						28.88						17.26

Summary of Acquisitions

The following tables summarize the consideration paid for the 2021 acquisitions and the preliminary purchase price allocations for identified assets acquired and liabilities assumed as of the acquisition date:

(in millions)						Consideration
Cash paid, net of cash acquired						$	2,376.4
Debt issued						355.4
Preliminary fair value of redeemable non-controlling interest						33.0
Total consideration transferred						$	2,764.8

Assets Acquired and Liabilities Assumed

(in millions)						Assets Acquired and Liabilities Assumed
Accounts receivable						$	1.1
Inventories, net						565.6
Property and equipment, net						112.6
Other non-current assets						2,117.4
Floor plan notes payable						(3.9)
Other long-term liabilities						(28.0)
						$	2,764.8

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
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- Definition

Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts.

+ References

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Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

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