INTERIM FINANCIAL STATEMENTS

6 Months Ended

Jun. 30, 2025

Basis of Presentation

These Consolidated Financial Statements contain unaudited information as of June 30, 2025, and for the three and

six months ended June 30, 2025 and 2024. The unaudited interim financial statements have been prepared

pursuant to the rules and regulations for reporting on Form 10-Q. Accordingly, certain disclosures required by

accounting principles generally accepted in the United States of America for annual financial statements are not

included herein. In management’s opinion, these unaudited financial statements reflect all adjustments (which

include only normal recurring adjustments) necessary for a fair presentation of the information when read in

conjunction with our 2024 audited Consolidated Financial Statements and the related notes thereto. The financial

information as of December 31, 2024, is derived from our Annual Report on Form 10-K filed with the SEC on

February 24, 2025. The results of operations for the interim periods presented are not necessarily indicative of the

results to be expected for the full year.

Reclassifications

Certain reclassifications of amounts previously reported have been made to the accompanying Consolidated

Financial Statements to maintain consistency and comparability between periods presented. Within our financing

operations income, we disaggregated our lease income out of our previously reported interest, fee, and lease

income to be its own separately presented line item, as well as revised the related lease depreciation and

amortization to now be reported as lease costs, reclassifying amounts previously reported net within lease income.

Correction of an Error

In the three months ended March 31, 2025, we identified an immaterial error related to interest and fee income

recognition in our previously issued financial statements for the year ended December 31, 2024. As a result,

retained earnings and finance receivables were overstated, and prepaid income taxes were understated.

In accordance with ASC 250, Accounting Changes and Error Corrections, we corrected this error by retrospectively

restating the affected prior periods in this Form 10-Q.

The following tables summarize the impact of the correction on our Consolidated Financial Statements:


	December 31, 2024
(In millions)	As Previously Reported	Adjustment	As Restated
Consolidated Balance Sheet
Other current assets	$221.3	$1.7	$223.0
Total current assets	7,772.2	1.7	7,773.9
Finance receivables, net	3,875.2	(7.0)	3,868.2
Total assets	23,127.9	(5.3)	23,122.6
Retained earnings	5,758.8	(5.3)	5,753.5
Total stockholders’ equity - Lithia Motors, Inc.	6,655.5	(5.3)	6,650.2
Total equity	6,679.4	(5.3)	6,674.1
Total liabilities, non-controlling interest, and equity	23,127.9	(5.3)	23,122.6