Acquisitions (Tables)

3 Months Ended

Mar. 31, 2022

Business Combination and Asset Acquisition [Abstract]

Pro Forma Summary of All Acquisitions

Revenue and operating income contributed by the 2022 acquisitions subsequent to the date of acquisition were as follows (in millions):

Three Months Ended March 31,	2022
Revenue	$	90.7
Operating income	4.9

The following unaudited pro forma summary presents consolidated information as if all acquisitions in the three-month periods ended March 31, 2022 and 2021, had occurred on January 1, 2021:

	Three Months Ended March 31,
(in millions, except per share amounts)	2022		2021
Revenue	$	6,724.4	$	4,396.2
Net income attributable to Lithia Motors, Inc.	345.5		160.2
Basic earnings attributable to Lithia Motors, Inc. per share	11.70		6.02
Diluted earnings attributable to Lithia Motors, Inc. per share	11.66		5.96

Summary of Acquisitions

The following tables summarize the consideration paid for the 2022 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	$	318.3

Assets Acquired and Liabilities Assumed

(in millions)	Assets Acquired and Liabilities Assumed
Inventories, net	93.6
Property and equipment, net	111.1
Other non-current assets	173.3
Debt and finance lease obligations	(59.0)
Other long-term liabilities	(0.7)
	$	318.3