LITHIA MOTORS INC
For the period ended Mar 31, 2024. Filed Apr 26, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed Apr 26, 2024
LAD$305.82-1.6%Stored close · as of Nov 10, 2026
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Item 1. CONSOLIDATED BALANCE SHEETS
| (In millions; Unaudited) | March 31, 2024 | December 31, 2023 |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash, restricted cash, and cash equivalents | $404.6 | $941.4 |
| Accounts receivable, net of allowance for doubtful accounts of $3.3 and $7.1 | 1,249.3 | 1,123.1 |
| Inventories, net | 5,861.9 | 4,753.9 |
| Other current assets | 217.4 | 136.8 |
| Total current assets | 7,733.2 | 6,955.2 |
| Property and equipment, net of accumulated depreciation of $688.1 and $646.7 | 4,502.0 | 3,981.4 |
| Operating lease right-of-use assets | 753.2 | 478.8 |
| Finance receivables, net of allowance for estimated losses of $111.8 and $106.4 | 3,412.5 | 3,242.3 |
| Goodwill | 2,081.7 | 1,930.6 |
| Franchise value | 2,538.0 | 2,402.2 |
| Other non-current assets | 1,159.4 | 642.0 |
| Total assets | $22,180.0 | $19,632.5 |
| Liabilities and equity | ||
| Current liabilities: | ||
| Floor plan notes payable | $2,533.3 | $1,347.0 |
| Floor plan notes payable: non-trade | 2,428.7 | 2,288.5 |
| Current maturities of long-term debt | 97.2 | 75.7 |
| Current maturities of non-recourse notes payable | 27.6 | 33.9 |
| Trade payables | 327.6 | 288.0 |
| Accrued liabilities | 1,177.1 | 899.1 |
| Total current liabilities | 6,591.5 | 4,932.2 |
| Long-term debt, less current maturities | 5,662.4 | 5,483.7 |
| Non-recourse notes payable, less current maturities | 1,803.9 | 1,671.7 |
| Deferred revenue | 389.2 | 264.1 |
| Deferred income taxes | 378.9 | 349.3 |
| Non-current operating lease liabilities | 655.1 | 427.9 |
| Other long-term liabilities | 277.4 | 220.7 |
| Total liabilities | 15,758.4 | 13,349.6 |
| Redeemable non-controlling interest | 44.9 | 44.0 |
| Equity: | ||
| Preferred stock - no par value; authorized 15.0 shares; none outstanding | — | — |
| Common stock - no par value; authorized 125.0 shares; issued and outstanding 27.5 and 27.4 | 1,117.8 | 1,100.6 |
| Additional paid-in capital | 67.8 | 79.9 |
| Accumulated other comprehensive income | 3.7 | 20.1 |
| Retained earnings | 5,162.1 | 5,013.3 |
| Total stockholders’ equity - Lithia Motors, Inc. | 6,351.4 | 6,213.9 |
| Non-controlling interest | 25.3 | 25.0 |
| Total equity | 6,376.7 | 6,238.9 |
| Total liabilities, redeemable non-controlling interest, and equity | $22,180.0 | $19,632.5 |
| FINANCIAL STATEMENTS | 1 |
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