XML 172 R32.htm IDEA: XBRL DOCUMENT
v3.22.1

Acquisitions (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract] |
Pro Forma Summary of All Acquisitions | Revenue and operating income contributed by the 2022 acquisitions subsequent to the date of acquisition were as follows (in millions):
Three Months Ended March 31, |  | 2022
Revenue |  | $ | 90.7 |
Operating income |  | 4.9 |
The following unaudited pro forma summary presents consolidated information as if all acquisitions in the three-month periods ended March 31, 2022 and 2021, had occurred on January 1, 2021:
|  |  |  | Three Months Ended March 31,
(in millions, except per share amounts) |  |  |  |  |  | 2022 |  | 2021
Revenue |  |  |  |  |  | $ | 6,724.4 |  |  | $ | 4,396.2 |
Net income attributable to Lithia Motors, Inc. |  |  |  |  |  | 345.5 |  |  | 160.2 |
Basic earnings attributable to Lithia Motors, Inc. per share |  |  |  |  |  | 11.70 |  |  | 6.02 |
Diluted earnings attributable to Lithia Motors, Inc. per share |  |  |  |  |  | 11.66 |  |  | 5.96 |
Summary of Acquisitions | The following tables summarize the consideration paid for the 2022 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 |  | $ | 318.3 |
Assets Acquired and Liabilities Assumed |
(in millions) |  | Assets Acquired and Liabilities Assumed
Inventories, net |  | 93.6 |
Property and equipment, net |  | 111.1 |
Other non-current assets |  | 173.3 |
Debt and finance lease obligations |  | (59.0) |
Other long-term liabilities |  | (0.7) |
|  | $ | 318.3 |

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 Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_BusinessCombinationAndAssetAcquisitionAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=123413009&loc=d3e4845-128472 + Details
Name: | us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration