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Earnings Per Share (Tables)
12 Months Ended
Dec. 31, 2021
Earnings Per Share [Abstract]  
Computation of Earnings Per Share
Earnings per share are computed as follows:
 
    
2021
     2020  
Basic earnings per Common Share:
                 
Net income attributable to Magna International Inc.
  
$
1,514
 
   $ 757  
    
 
 
    
 
 
 
Weighted average number of Common Shares outstanding during the year
  
 
300.6
 
     299.7  
    
 
 
    
 
 
 
Basic earnings per Common Share
  
$
5.04
 
   $ 2.52  
    
 
 
    
 
 
 
Diluted earnings per Common Share [a]:
                 
Net income attributable to Magna International Inc.
  
$
1,514
 
   $ 757  
    
 
 
    
 
 
 
Weighted average number of Common Shares outstanding during the year
  
 
300.6
 
     299.7  
Stock options and restricted stock
  
 
2.2
 
     0.7  
    
 
 
    
 
 
 
    
 
302.8
 
     300.4  
    
 
 
    
 
 
 
Diluted earnings per Common Share
  
$
5.00
 
   $ 2.52  
    
 
 
    
 
 
 
 
[a]
Diluted earnings per Common Share exclude 0.4 million [2020 – 4.7 million] Common Shares issuable under the Company’s Incentive Stock Option Plan because these options were not
“in-the-money”.
The dilutive effect of participating securities using the
two-class
method was excluded from the calculation of earnings per share because the effect would be immaterial.