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NET INCOME PER SHARE (Tables)

6 Months Ended

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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- References

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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

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