XML 34 R15.htm IDEA: XBRL DOCUMENT
v3.26.1

INVESTMENTS | 6 Months Ended
--- | ---
Jun. 30, 2026
Investments, Debt and Equity Securities [Abstract] |
INVESTMENTS | INVESTMENTS Marketable Securities As of June 30, 2026 and December 31, 2025, marketable equity securities recorded within other current assets in the Consolidated Balance Sheets were $8.8 million and $2.4 million, respectively. Net unrealized gains recognized during the six months ended June 30, 2026 and 2025 on marketable equity securities held at the reporting date wer e $0.3 million and $0.3 million, respectively. Marketable debt securities accounted for as available-for-sale (AFS), and recorded within Other current assets in the Consolidated Balance Sheets, were as follows:
| As of June 30, 2026
|  |  |  |  |  |  |  |  | Fair Value of Securities with Contractual Maturities
(In millions) | Amortized Cost |  | Total Net Gains 1 |  | Total Net Losses 1 |  | Fair Value |  | Within 1 Year |  | After 1 Year through 5 Years |  | After 5 Years
U.S. Treasury | $20.1 |  | $— |  | $(0.1) |  | $20.0 |  | $3.6 |  | $12.1 |  | $4.3
Municipal securities | 10.5 |  | 0.1 |  | (0.1) |  | 10.5 |  | 1.6 |  | 7.5 |  | 1.4
Corporate debt | 27.6 |  | 0.1 |  | (0.1) |  | 27.6 |  | 3.4 |  | 16.5 |  | 7.7
Total | $58.2 |  | $0.2 |  | $(0.3) |  | $58.1 |  | $8.6 |  | $36.1 |  | $13.4
| As of December 31, 2025
|  |  |  |  |  |  |  |  | Fair Value of Securities with Contractual Maturities
(In millions) | Amortized Cost |  | Total Net Gains 1 |  | Total Net Losses 1 |  | Fair Value |  | Within 1 Year |  | After 1 Year through 5 Years |  | After 5 Years
U.S. Treasury | $21.4 |  | $0.2 |  | $— |  | $21.6 |  | $3.7 |  | $14.5 |  | $3.4
Municipal securities | 10.4 |  | 0.2 |  | — |  | 10.6 |  | 0.1 |  | 9.0 |  | 1.5
Corporate debt | 21.5 |  | 0.3 |  | — |  | 21.8 |  | 4.0 |  | 14.3 |  | 3.5
Total | $53.3 |  | $0.7 |  | $— |  | $54.0 |  | $7.8 |  | $37.8 |  | $8.4
1 Represents total unrealized gains (losses) for securities with net gains (losses) in Accumulated other comprehensive income. Proceeds from the maturity of AFS debt securities were $5.2 million and $6.2 million for t he six months ended June 30, 2026 and 2025. There were no gross realized gains or losses on the maturity of AFS debt securities for the three and six months ended June 30, 2026 and 2025. Equity Method Investments Our common stock voting interests in Pinewood Technologies, PLC (PINE.L), a U.K.-based automotive dealership management system provider, increased from 25.50% to 31.95% in July 2025. The investment is accounted for as an equity method investment. The investment is measured at fair value based on quoted market prices, and all fair market value changes in the investment are recorded as unrealized gains or losses as a component of Other income (expense), net in the Consolidated Statements of Operations. The fair value of our investment was $129.5 million and $177.2 million as of June 30, 2026 and December 31, 2025, respectively. See Note 11 – Fair Value Measurements. Our investment in Wheels, Inc., an automotive fleet management provider, through Lithia Marubeni Mobility Holdings (LMMH) consists of 26.5% of the common stock voting interests accounted for as an equity method investment. The investment is measured at cost plus or minus our share of equity method investee income or loss as a component of Other non-current assets in the Consolidated Balance Sheets. The book value of our investment was $217.0 million and $222.0 million as of June 30, 2026 and December 31, 2025, respectively. We received a dividend of $9.8 million during the six months ended June 30, 2026. Using the cumulative earnings approach, this dividend is classified within Operating Activities in the Consolidated Statements of Cash Flows, as it is less than our cumulative equity in the investee's earnings.

X
- Definition The entire disclosure for investment. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/320/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 321 -Publisher FASB -URI https://asc.fasb.org/321/tableOfContent Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 325 -Publisher FASB -URI https://asc.fasb.org/325/tableOfContent + Details
Name: | us-gaap_InvestmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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