EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2025

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 March 31,
(in millions, except per share amounts)	2025	2024
Net income attributable to Lithia Motors, Inc.	$209.5	$162.6

Weighted average common shares outstanding – basic	26.3	27.5
Effect of employee stock purchases and restricted stock units on weighted average common shares outstanding	0.1	0.1
Weighted average common shares outstanding – diluted	26.4	27.6

Basic EPS attributable to Lithia Motors, Inc. common stockholders	$7.96	$5.90
Diluted EPS attributable to Lithia Motors, Inc. common stockholders	$7.94	$5.89

The effect of antidilutive securities on common stock was evaluated for the three-month periods ended March 31,

2025 and 2024 and was determined to be immaterial.