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Earnings Per Share (Tables) | 12 Months Ended
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Dec. 31, 2023
Earnings Per Share [Abstract] |
Computation of Earnings Per Share | Earnings per share are computed as follows:
|  | 2023 |  |  | 2022 |
Basic earnings per Common Share: |  |  |  |  |  |  |  |
Net income attributable to Magna International Inc. |  | $ | 1,213 |  |  | $ | 592 |
Weighted average number of Common Shares outstanding during the year |  |  | 286.2 |  |  |  | 290.4 |
Basic earnings per Common Share |  | $ | 4.24 |  |  | $ | 2.04 |
Diluted earnings per Common Share [a]: |  |  |  |  |  |  |  |
Net income attributable to Magna International Inc. |  | $ | 1,213 |  |  | $ | 592 |
Weighted average number of Common Shares outstanding during the year |  |  | 286.2 |  |  |  | 290.4 |
Stock options and restricted stock |  |  | 0.4 |  |  |  | 0.8 |
|  |  | 286.6 |  |  |  | 291.2 |
Diluted earnings per Common Share |  | $ | 4.23 |  |  | $ | 2.03 |
[a] | Diluted earnings per Common Share exclude 2.8 million [2022 – 1.3 million] Common Shares issuable under the Company’s Incentive Stock Option Plan because these options were not “in-the-money”. The dilutive effect of participating securities using the two-class method was excluded from the calculation of earnings per share because the effect would be immaterial.

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- Definition Tabular disclosure of the weighted average number of shares used in calculating basic net earnings per share (or unit) and diluted earnings per share (or unit). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 + Details
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