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Earnings Per Share (Tables)
 12 Months Ended
Dec. 31, 2022
Earnings Per Share [Abstract]  
Computation of Earnings Per Share
Earnings per share are computed as follows:
 
    
2022
      2021  
Basic earnings per Common Share:
                  
Net income attributable to Magna International Inc.
   
$
592
      $ 1,514  
    
 
 
     
 
 
  
Weighted average number of Common Shares outstanding during the year
   
 
290.4
 
      300.6  
    
 
 
     
 
 
  
Basic earnings per Common Share
   
$
2.04
 
    $ 5.04  
    
 
 
     
 
 
  
Diluted earnings per Common Share [a]:
                  
Net income attributable to Magna International Inc.
   
$
592
 
    $ 1,514  
    
 
 
     
 
 
  
Weighted average number of Common Shares outstanding during the year
   
 
290.4
 
      300.6  
Stock options and restricted stock
   
 
0.8
 
      2.2  
    
 
 
     
 
 
  
    
 
291.2
 
      302.8  
    
 
 
     
 
 
  
Diluted earnings per Common Share
   
$
2.03
 
    $ 5.00  
    
 
 
     
 
 
  
 
[a]
Diluted earnings per Common Share exclude 1.3 million [2021 – 0.4 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.