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EARNINGS PER SHARE
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS PER SHARE
We calculate basic EPS by dividing net income attributable to Lithia Motors, Inc. by the weighted average number of common shares outstanding for the period, including vested RSU awards. Diluted EPS is calculated by dividing net income attributable to Lithia Motors, Inc. by the weighted average number of shares outstanding, adjusted for the dilutive effect of unvested RSU awards and employee stock purchases.

The following is a reconciliation of net income attributable to Lithia Motors, Inc. and weighted average shares used for our basic EPS and diluted EPS:
Three Months Ended September 30,Nine Months Ended September 30,
(in millions, except per share amounts)2024202320242023
Net income attributable to Lithia Motors, Inc.$209.1 $261.5 $585.8 $787.3 
Weighted average common shares outstanding – basic26.7 27.6 27.2 27.5 
Effect of employee stock purchases and restricted stock units on weighted average common shares outstanding0.1 — — 0.1 
Weighted average common shares outstanding – diluted 26.8 27.6 27.2 27.6 
Basic EPS attributable to Lithia Motors, Inc. common stockholders
$7.82 $9.49 $21.57 $28.60 
Diluted EPS attributable to Lithia Motors, Inc. common stockholders
$7.80 $9.46 $21.54 $28.54 

The effect of antidilutive securities on common stock was evaluated for the three and nine-month periods ended September 30, 2024 and 2023 and was determined to be immaterial.