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NET INCOME PER SHARE (Tables) | 6 Months Ended
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Jun. 30, 2022
Earnings Per Share [Abstract] |
Schedule of Earnings Per Share, Basic and Diluted | The following is a reconciliation of net income and weighted average shares used for our basic earnings per share (EPS) and diluted EPS:
Three Months Ended June 30, |  | 2022 |  | 2021
(in millions, except per share amounts) |  | Common Stock |  |  |  | Class A |  | Class B
Net income attributable to Lithia Motors, Inc. and applicable to common stockholders - basic |  | $ | 331.4 |  |  |  |  | $ | 304.9 |  |  | $ | — |
Reallocation of net income due to conversion of Class B to Class A common shares outstanding |  | — |  |  |  |  | — |  |  | — |
Conversion of Class B common shares into Class A common shares |  | — |  |  |  |  | — |  |  | — |
Net income attributable to Lithia Motors, Inc. and applicable to common stockholders - diluted |  | $ | 331.4 |  |  |  |  | $ | 304.9 |  |  | $ | — |
Weighted average common shares outstanding – basic |  | 28.4 |  |  |  |  | 28.1 |  |  | — |
Conversion of Class B common shares into Class A common shares |  | — |  |  |  |  | — |  |  | — |
Effect of dilutive stock options on weighted average common shares |  | 0.2 |  |  |  |  | 0.3 |  |  | — |
Weighted average common shares outstanding – diluted |  | 28.6 |  |  |  |  | 28.4 |  |  | — |
Basic earnings per share attributable to Lithia Motors, Inc. |  | $ | 11.67 |  |  |  |  | $ | 10.83 |  |  | $ | — |
Diluted earnings per share attributable to Lithia Motors, Inc. |  | $ | 11.60 |  |  |  |  | $ | 10.75 |  |  | $ | — |
Six Months Ended June 30, |  | 2022 |  | 2021
(in millions, except per share amounts) |  | Common Stock |  |  |  | Class A |  | Class B
Net income attributable to Lithia Motors, Inc. and applicable to common stockholders - basic |  | $ | 673.6 |  |  |  |  | $ | 460.5 |  |  | $ | 0.6 |
Conversion of class B common shares into class A common shares |  | — |  |  |  |  | 0.6 |  |  | — |
Net income attributable to Lithia Motors, Inc. and applicable to common stockholders - diluted |  | $ | 673.6 |  |  |  |  | $ | 461.1 |  |  | $ | 0.6 |
Weighted average common shares outstanding – basic |  | 29.0 |  |  |  |  | 27.4 |  |  | — |
Conversion of class B common shares into class A common shares |  | — |  |  |  |  | — |  |  | — |
Effect of employee stock purchases and restricted stock units on weighted average common shares |  | 0.1 |  |  |  |  | 0.2 |  |  | — |
Weighted average common shares outstanding – diluted |  | 29.1 |  |  |  |  | 27.6 |  |  | — |
Basic earnings per share attributable to Lithia Motors, Inc. |  | $ | 23.25 |  |  |  |  | $ | 16.83 |  |  | $ | 16.83 |
Diluted earnings per share attributable to Lithia Motors, Inc. |  | $ | 23.15 |  |  |  |  | $ | 16.69 |  |  | $ | 16.69 |

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 + Details
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