ACQUISITIONS (Tables)

6 Months Ended

Jun. 30, 2023

Business Combination and Asset Acquisition [Abstract]

Pro Forma Summary of All Acquisitions

Revenue and operating income contributed by the 2023 acquisitions subsequent to the date of acquisition were as follows (in millions):

Six Months Ended June 30,	2023
Revenue	$	791.8
Operating income	28.8

The following unaudited pro forma summary presents consolidated information as if all acquisitions in the three and six-month periods ended June 30, 2023 and 2022 had occurred on January 1, 2022:

	Three Months Ended June 30,				Six Months Ended June 30,
(in millions, except per share amounts)	2023		2022		2023		2022
Revenue	$	8,400.0	$	8,147.1	$	16,116.9	$	15,695.7
Net income attributable to Lithia Motors, Inc.	314.5		363.2		567.9		732.7
Basic earnings attributable to Lithia Motors, Inc. per share	11.42		12.79		20.64		25.29
Diluted earnings attributable to Lithia Motors, Inc. per share	11.41		12.71		20.60		25.17

Summary of Acquisitions

The following tables summarize the consideration paid for the 2023 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	$	978.5
Contingent consideration	7.3
Total consideration transferred	$	985.8

Assets Acquired and Liabilities Assumed

(in millions)	Assets Acquired and Liabilities Assumed
Trade receivables, net	$	66.7
Inventories	540.5
Goodwill	30.5
Property and equipment	348.9
Operating lease right-of-use assets	86.7
Finance receivables, net	8.0
Other assets	645.1
Floor plan notes payable	(439.8)
Borrowings on lines of credit	(36.4)
Debt and finance lease obligations	(45.0)
Deferred taxes, net	10.0
Other liabilities	(229.4)
Total net assets acquired and liabilities assumed	$	985.8