Net Income Per Share of Common Stock (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Earnings Per Share, Basic and Diluted

Following is a reconciliation of net income and weighted average shares used for our basic earnings per share (EPS) and diluted EPS (in millions, except per share amounts):


	Year Ended December 31,
	2021				2020				2019
(Dollars in millions, except for per share amounts)	Class A		Class B		Class A		Class B		Class A		Class B
Net income from continuing operations applicable to common stockholders	$	1,059.5	$	0.6	$	460.9	$	9.4	$	264.5	$	7.0

Reallocation of distributed net income due to conversion of class B to class A common shares outstanding	—		—		0.6		—		0.7		—
Conversion of class B common shares into class A common shares	0.6		—		8.9		—		6.3		—

Net income attributable to Lithia Motors, Inc. and applicable to common stockholders - diluted	$	1,060.1	$	0.6	$	470.3	$	9.4	$	271.5	$	7.0

Weighted average common shares outstanding – basic	28.8		—		23.3		0.5		22.6		0.6
Conversion of class B common shares into class A common shares	—		—		0.5		—		0.6		—
Effect of employee stock purchases and restricted stock units on weighted average common shares	0.2		—		0.3		—		0.2		—
Weighted average common shares outstanding – diluted	29.0		—		24.1		0.5		23.4		0.6

Basic earnings per share attributable to Lithia Motors, Inc.	$	36.81	$	36.81	$	19.74	$	19.74	$	11.70	$	11.70
Diluted earnings per share attributable to Lithia Motors, Inc.	$	36.54	$	36.54	$	19.53	$	19.53	$	11.60	$	11.60