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INTERIM FINANCIAL STATEMENTS (Tables)

9 Months Ended

Sep. 30, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of Impact of Error Correction

The following tables summarize the impact of the correction on our Consolidated Balance Sheet and Consolidated

Statement of Operations.

	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

	For the Three Months Ended September 30, 2024
(in millions, except per share amounts)	As Previously Reported	Adjustment	As Restated
Consolidated Statement of Operations
Financing operations income (loss)	$0.9	$(2.3)	$(1.4)
Operating profit	424.2	(2.3)	421.9
Income before income taxes	288.2	(2.3)	285.9
Income tax provision	(65.3)	0.5	(64.8)
Net income	222.9	(1.8)	221.1
Net income attributable to Lithia Motors, Inc.	209.1	(1.8)	207.3
Basic earnings per share attributable to Lithia Motors, Inc.	$7.82	$(0.07)	$7.75
Diluted earnings per share attributable to Lithia Motors, Inc.	$7.80	$(0.07)	$7.73

	For the Nine Months Ended September 30, 2024
(in millions, except per share amounts)	As Previously Reported	Adjustment	As Restated
Consolidated Statement of Operations
Financing operations income	$6.4	$(2.3)	$4.1
Operating profit	1,159.3	(2.3)	1,157.0
Income before income taxes	791.4	(2.3)	789.1
Income tax provision	(187.0)	0.5	(186.5)
Net income	604.4	(1.8)	602.6
Net income attributable to Lithia Motors, Inc.	585.8	(1.8)	584.0
Basic earnings per share attributable to Lithia Motors, Inc.	$21.57	$(0.07)	$21.50
Diluted earnings per share attributable to Lithia Motors, Inc.	$21.54	$(0.07)	$21.47

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- References

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- Definition

Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-7

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

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