Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2026

The exchanges affected pursuant to the Exchange Agreement during the three and nine months ended September 30, 2026 and 2025 were as follows:


	Three Months Ended September 30,		Nine Months Ended September 30,
	2026	2025	2026	2025

	(in thousands)
LLC Units exchanged by certain LLC Unitholders	—	14,803	166	20,255
Shares of Class B common stock retired	—	11,725	—	15,000
Newly issued Class A common stock	—	11,841	133	16,194
LLC Units received by Carvana Co.	—	14,801	166	20,242

Schedule of Changes in Accumulated Other Comprehensive Items, Net

The following table summarizes the changes in AOCI, net of tax, which is reported as a component of stockholders' equity, during the three months ended September 30, 2026. As discussed in Note 17 — Fair Value of Financial Instruments, the interest rate swap was entered into during the three months ended September 30, 2026. As such, there was no activity in prior periods.


	Three Months Ended September 30,
	2026

	(in millions)
Opening balance	$	—
Other comprehensive income before reclassifications	12
Amounts reclassified from accumulated other comprehensive income	1
Ending balance	$	13

Schedule of Reclassification out of Accumulated Other Comprehensive Income

The following table summarizes the reclassifications out of AOCI during the three months ended September 30, 2026.


(In millions)	Amount Reclassified from AOCI		Tax Benefit		Net of Tax
Losses on cash flow hedge:
Interest rate swap	$	(1)	$	—	$	(1)
Total reclassifications for the period	$	(1)	$	—	$	(1)