Engagement summary
Client Background
Carvana is a publicly traded e-commerce platform for buying and selling used vehicles with rapid acquisition activity expanding its physical dealership footprint.
Engagement Scope
R&M prepared ASC 805 purchase price allocations for multiple Carvana dealership acquisitions across regional markets, including identification of acquired intangible assets, fair-value measurement, opening balance sheet support, and goodwill allocation.
Services Provided
- ASC 805 purchase price allocation memos for regional dealership acquisitions
- Intangible asset identification and fair-value measurement
- Goodwill allocation and reporting-unit assignment
- Audit support and SEC disclosure drafting
Valuation context
Carvana Co. engaged Rivers & Moorehead for independent valuation support under the standard(s) listed above. The engagement provides valuation analyses, supporting models, and written deliverables intended to assist the company and its external auditors with financial reporting under U.S. GAAP.
Valuation scope
- ASC 805 purchase price allocation – identification and fair value measurement of acquired identifiable intangible assets, tangible assets, and assumed liabilities, with residual goodwill calculation and opening balance sheet support.
- ASC 820 fair value measurement of designated financial-reporting items, including selection of valuation technique, development of unobservable inputs, and classification within the fair value hierarchy.