Three Months Ended March 31,

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

$

342.2

$

155.8

$

0.4

Conversion of class B common shares into class A common shares

—

0.4

—

Net income attributable to Lithia Motors, Inc. and applicable to common stockholders - diluted

$

342.2

$

156.2

$

0.4

Weighted average common shares outstanding – basic

29.5

26.6

0.1

Conversion of class B common shares into class A common shares

—

0.1

—

Effect of employee stock purchases and restricted stock units on weighted average common shares

0.1

0.2

—

Weighted average common shares outstanding – diluted

29.6

26.9

0.1

Basic earnings per share attributable to Lithia Motors, Inc.

$

11.59

$

5.86

$

5.86

Diluted earnings per share attributable to Lithia Motors, Inc.

$

11.55

$

5.81

$

5.81