XML 142 R35.htm IDEA: XBRL DOCUMENT v3.24.1
Earnings Per Share (Tables)
 12 Months Ended
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.