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Annual report pursuant to Section 13 and 15(d)

EARNINGS PER SHARE (Tables)

v3.20.4
EARNINGS PER SHARE (Tables)
 12 Months Ended
Dec. 31, 2020
Earnings Per Share [Abstract] Ìý
Earnings Per Share Computation
The following table summarizes the computation of basic and diluted EPS:
(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
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
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share
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:
(In Millions)
2020
Redeemable preferred shares 4Ìý
Convertible senior notes 2Ìý
Shares related to employee stock plans 1Ìý