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Quarterly report pursuant to Section 13 or 15(d)

Statements Of Unaudited Condensed Consolidated Operations

v3.23.3
Statements Of Unaudited Condensed Consolidated Operations - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Income Statement [Abstract] Ìý Ìý Ìý Ìý
Revenues $ 5,605 $ 5,653 $ 16,884 $ 17,945
Operating costs: Ìý Ìý Ìý Ìý
Cost of goods sold (5,125) (5,305) (15,661) (15,367)
Selling, general and administrative expenses (144) (124) (420) (353)
Miscellaneous – net (11) (37) (26) (104)
Total operating costs (5,280) (5,466) (16,107) (15,824)
Operating income 325 187 777 2,121
Other income (expense): Ìý Ìý Ìý Ìý
Interest expense, net (70) (64) (226) (205)
Gain (loss) on extinguishment of debt 0 4 0 (76)
Net periodic benefit credits other than service cost component 50 49 150 148
Other non-operating income (expense) (2) (1) 4 (6)
Total other expense (22) (12) (72) (139)
Income from continuing operations before income taxes 303 175 705 1,982
Income tax expense (29) (10) (118) (404)
Income from continuing operations 274 165 587 1,578
Income from discontinued operations, net of tax 1 0 2 2
Net income 275 165 589 1,580
Income attributable to noncontrolling interest (11) (13) (35) (31)
Net income attributable to Cliffs shareholders $ 264 $ 152 $ 554 $ 1,549
Earnings per common share attributable to Cliffs shareholders - basic Ìý Ìý Ìý Ìý
Continuing operations (in dollars per share) $ 0.52 $ 0.30 $ 1.08 $ 2.98
Discontinued operations (in dollars per share) 0 0 0 0
Earnings per Common Share - Basic (in dollars per share) 0.52 0.30 1.08 2.98
Earnings per common share attributable to Cliffs shareholders - diluted Ìý Ìý Ìý Ìý
Continuing operations (in dollars per share) 0.52 0.29 1.08 2.95
Discontinued operations (in dollars per share) 0 0 0 0
Earnings per Common Share - Diluted (in dollars per share) $ 0.52 $ 0.29 $ 1.08 $ 2.95