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Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE (Tables)

v3.23.1
EARNINGS PER SHARE (Tables)
 3 Months Ended
Mar. 31, 2023
Earnings Per Share [Abstract] Ìý
Earnings Per Share Computation
The following table summarizes the computation of basic and diluted EPS:
Three Months Ended
March 31,
(In millions, except per share amounts) 2023 2022
Income (loss) from continuing operations $ (43) $ 813Ìý
Income from continuing operations attributable to noncontrolling interest (15) (13)
Net income (loss) from continuing operations attributable to Cliffs shareholders (58) 800Ìý
Income from discontinued operations, net of tax 1Ìý 1Ìý
Net income (loss) attributable to Cliffs shareholders $ (57) $ 801Ìý
Weighted average number of shares:
Basic 515 521
Convertible senior notes — 7
Employee stock plans1
— 4
Diluted 515 532
Earnings (loss) per common share attributable to Cliffs shareholders - basic:
Continuing operations $ (0.11) $ 1.54Ìý
Discontinued operations —Ìý —Ìý
$ (0.11) $ 1.54Ìý
Earnings (loss) per common share attributable to Cliffs shareholders - diluted:
Continuing operations $ (0.11) $ 1.50Ìý
Discontinued operations —Ìý —Ìý
$ (0.11) $ 1.50Ìý
1 For the three months ended March 31, 2023, we had 1 million shares related to employee stock plans that were excluded from the diluted EPS calculation as they were anti-dilutive.