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Earnings Per Share (Tables)
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Computation of Earnings Per Share
Earnings per share are computed as follows:
 
     
2024
     2023  
Basic earnings per Common Share:
     
Net income attributable to Magna International Inc.
   
$
  1,009
 
   $   1,213  
Weighted average number of Common Shares outstanding during the year
   
 
286.8
 
     286.2  
Basic earnings per Common Share
   
$
3.52
 
   $ 4.24  
Diluted earnings per Common Share [a]:
     
Net income attributable to Magna International Inc.
   
$
1,009
 
   $ 1,213  
Weighted average number of Common Shares outstanding during the year
   
 
286.8
 
     286.2  
Stock options and restricted stock
   
 
0.1
 
     0.4  
    
 
286.9
 
  
 
 286.6
 
Diluted earnings per Common Share
   
$
3.52
   
   $ 4.23  
 
[a]
Diluted earnings per Common Share exclude 5.2 million [2023 – 2.8 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.