|
The following table summarizes the computation of basic and diluted EPS:
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(In Millions, Except Per Share Amounts) |
|
Year Ended December 31, |
|
2020 |
|
2019 |
|
2018 |
| Income (loss) from continuing operations |
$ |
(82) |
|
|
$ |
295Ìý |
|
|
$ |
1,040Ìý |
|
| Income from continuing operations attributable to noncontrolling interest |
(41) |
|
|
—Ìý |
|
|
—Ìý |
|
| Net income (loss) from continuing operations attributable to Cliffs shareholders |
(123) |
|
|
295Ìý |
|
|
1,040Ìý |
|
| Income (loss) from discontinued operations, net of tax |
1Ìý
|
|
|
(2) |
|
|
88Ìý |
|
| Net income (loss) attributable to Cliffs shareholders |
$ |
(122) |
|
|
$ |
293Ìý |
|
|
$ |
1,128Ìý |
|
|
|
|
|
|
|
| Weighted average number of shares: |
|
|
|
|
|
| Basic |
379Ìý
|
|
|
277Ìý |
|
|
297Ìý |
|
| Convertible senior notes |
—Ìý
|
|
|
4Ìý |
|
|
3Ìý |
|
| Employee stock plans |
—Ìý
|
|
|
3Ìý |
|
|
4Ìý |
|
| Diluted |
379Ìý
|
|
|
284Ìý |
|
|
304Ìý |
|
|
|
|
|
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|
Earnings (loss) per common share attributable to
Cliffs common shareholders - basic: |
|
|
|
|
|
| Continuing operations |
$ |
(0.32) |
|
|
$ |
1.07Ìý |
|
|
$ |
3.50Ìý |
|
| Discontinued operations |
—Ìý
|
|
|
(0.01) |
|
|
0.30Ìý |
|
|
$ |
(0.32) |
|
|
$ |
1.06Ìý |
|
|
$ |
3.80Ìý |
|
Earnings (loss) per common share attributable to
Cliffs common shareholders - diluted: |
|
|
|
|
|
| Continuing operations |
$ |
(0.32) |
|
|
$ |
1.04Ìý |
|
|
$ |
3.42Ìý |
|
| Discontinued operations |
—Ìý
|
|
|
(0.01) |
|
|
0.29Ìý |
|
|
$ |
(0.32) |
|
|
$ |
1.03Ìý |
|
|
$ |
3.71Ìý |
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The following table summarizes the shares that have been excluded from the diluted earnings per share calculation for the year ended December 31, 2020, as they were anti-dilutive:
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(In Millions) |
|
2020 |
| Redeemable preferred shares |
4Ìý
|
|
| Convertible senior notes |
2Ìý
|
|
| Shares related to employee stock plans |
1Ìý
|
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