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ACQUISITIONS (Tables)

3 Months Ended

Mar. 31, 2024

Business Combination and Asset Acquisition [Abstract]

Schedule of Pro Forma Summary

Revenue and operating income contributed by the 2024 acquisitions subsequent to the date of acquisition were as follows (in millions):

Three Months Ended March 31,						2024
Revenue						$	985.4
Operating income						13.6

The following unaudited pro forma summary presents consolidated information as if all acquisitions in the three-month periods ended March 31, 2024 and 2023 had occurred on January 1, 2023:

						Three Months Ended March 31,
(in millions, except per share amounts)						2024						2023
Revenue						$	9,024.4					$	8,197.2
Net income attributable to Lithia Motors, Inc.						170.8						245.7
Basic earnings per share attributable to Lithia Motors, Inc.						6.20						8.94
Diluted earnings per share attributable to Lithia Motors, Inc.						6.19						8.92

Schedule of Assets Acquired and Liabilities Assumed

The following tables summarize the consideration paid for the 2024 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						$	1,074.4

(in millions)						Assets Acquired and Liabilities Assumed
Trade receivables, net						$	119.0
Inventories						972.1
Property and equipment						499.6
Operating lease right-of-use assets						289.7
Net investment in operating leases						181.5
Deferred taxes, net						20.5
Other assets						494.1
Trade payables						(39.6)
Floor plan notes payable						(868.1)
Operating lease liability						(283.9)
Other liabilities and deferred revenue						(310.5)
Total net assets acquired and liabilities assumed						$	1,074.4

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
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-SubTopic 10
-Topic 805
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479328/805-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)(3)
-SubTopic 10
-Topic 805
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479328/805-10-50-2

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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
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479907/805-20-50-1

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