EARNINGS PER SHARE

9 Months Ended

Sep. 30, 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 September 30,		Nine Months Ended September 30,
(In millions, except per share amounts)	2025	2024	2025	2024
Net income attributable to Lithia Motors, Inc.	$217.1	$207.3	$682.7	$584.0

Weighted average common shares outstanding – basic	25.2	26.7	25.8	27.2
Effect of employee stock purchases and restricted stock units on weighted average common shares outstanding	—	0.1	—	—
Weighted average common shares outstanding – diluted	25.2	26.8	25.8	27.2

Basic EPS attributable to Lithia Motors, Inc. common stockholders	$8.63	$7.75	$26.47	$21.50
Diluted EPS attributable to Lithia Motors, Inc. common stockholders	$8.61	$7.73	$26.42	$21.47

The effect of antidilutive securities on common stock was evaluated for the three and nine-month periods ended

September 30, 2025 and 2024 and was determined to be immaterial.