XML 18 R4.htm IDEA: XBRL DOCUMENT v3.21.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues:        
Total revenues $ 6,169.8 $ 3,620.2 $ 16,522.2 $ 9,182.5
Cost of sales:        
Total cost of sales 4,980.7 2,968.6 13,507.0 7,605.6
Gross profit 1,189.1 651.6 3,015.2 1,576.9
Asset impairments 1.9 0.0 1.9 7.9
Selling, general and administrative 673.3 389.1 1,757.6 1,039.6
Depreciation and amortization 34.4 22.9 91.5 67.3
Operating income 479.5 239.6 1,164.2 462.1
Floor plan interest expense (3.6) (6.1) (17.0) (28.3)
Other interest expense, net (28.0) (16.6) (79.6) (50.4)
Other income (expense), net (25.7) 2.2 (14.6) 8.2
Income before income taxes 422.2 219.1 1,053.0 391.6
Income tax provision (113.2) (60.3) (282.9) (108.9)
Net income 309.0 158.8 770.1 282.7
Net income attributable to non-controlling interest (0.8) 0.0 (0.8) 0.0
Net income attributable to redeemable non-controlling interest (0.3) 0.0 (0.3) 0.0
Net income attributable to Lithia Motors, Inc. $ 307.9 $ 158.8 $ 769.0 $ 282.7
Basic earnings per share attributable to Lithia Motors, Inc. (in dollars per share) $ 10.18 $ 6.95 $ 27.12 $ 12.30
Shares used in basic per share calculations (in shares) 30.3 22.9 28.4 23.0
Diluted earnings per share attributable to Lithia Motors, Inc. (in dollars per share) $ 10.11 $ 6.86 $ 26.91 $ 12.18
Shares used in diluted per share calculations (in shares) 30.5 23.1 28.6 23.2
Cash dividends paid per share (in dollars per share) $ 0.35 $ 0.31 $ 1.01 $ 0.91
New vehicle retail        
Revenues:        
Total revenues $ 2,898.2 $ 1,883.3 $ 8,237.7 $ 4,624.6
Cost of sales:        
Total cost of sales 2,548.9 1,743.2 7,418.0 4,314.2
Used vehicle retail        
Revenues:        
Total revenues 2,079.5 1,093.2 5,236.6 2,889.7
Cost of sales:        
Total cost of sales 1,846.9 948.4 4,635.2 2,556.8
Used vehicle wholesale        
Revenues:        
Total revenues 260.9 98.8 613.5 216.8
Cost of sales:        
Total cost of sales 255.2 91.2 586.8 206.5
Finance and insurance        
Revenues:        
Total revenues 297.0 160.5 765.0 407.2
Service, body and parts        
Revenues:        
Total revenues 578.3 359.5 1,503.4 964.9
Cost of sales:        
Total cost of sales 275.8 163.6 704.3 456.5
Fleet and other        
Revenues:        
Total revenues 55.9 24.9 166.0 79.3
Cost of sales:        
Total cost of sales $ 53.9 $ 22.2 $ 162.7 $ 71.6