In the first three months of 2025, we completed the following acquisitions:

The acquisitions were accounted for as business combinations under the acquisition method of accounting. The

results of operations of the acquired stores are included in our Consolidated Financial Statements from the date of

Revenue and operating income contributed by the 2025 acquisitions subsequent to the date of acquisition were as

The following tables summarize the consideration paid for the 2025 acquisitions and the PPA for identified assets


(in millions)	Consideration
Cash paid, net of cash acquired	$84.5
Total consideration transferred	$84.5


(in millions)	Assets Acquired and Liabilities Assumed
Inventories, net	$14.5
Property and equipment	21.9
Operating lease right-of-use assets	0.2
Other assets	48.1
Operating lease liabilities	(0.2)
Total net assets acquired and liabilities assumed	$84.5

The PPA for the 2025 acquisitions is preliminary, as we have not obtained and evaluated all of the detailed

information necessary to finalize the opening balance sheet amounts in all respects. We recorded the PPA based

upon information that is currently available and recorded unallocated items as a component of Other non-current

We expect all of the goodwill related to the acquisitions in 2025 to be deductible for U.S. federal income tax

In the three-month periods ended March 31, 2025, we recorded $0.2 million in acquisition-related expenses as a

component of SG&A expense. Comparatively, we recorded $7.7 million of acquisition-related expenses in the same

The following unaudited pro forma summary presents consolidated information as if all acquisitions in the three-

month periods ended March 31, 2025 and 2024 had occurred on January 1, 2024:


	Three Months Ended March 31,
(in millions, except per share amounts)	2025	2024
Revenue	$9,191.6	$8,590.4
Net income attributable to Lithia Motors, Inc.	211.3	165.4
Basic EPS attributable to Lithia Motors, Inc. common stockholders	8.03	6.01
Diluted EPS attributable to Lithia Motors, Inc. common stockholders	8.01	6.00

These amounts have been calculated by applying our accounting policies and estimates. The results of the acquired

stores have been adjusted to reflect the following: depreciation on a straight-line basis over the expected lives for

property and equipment, accounting for inventory on a specific identification method, and recognition of interest

expense for real estate financing related to stores where we purchased the facility. No nonrecurring proforma

adjustments directly attributable to the acquisitions are included in the reported proforma revenues and earnings.