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NOTE 16 - EARNINGS PER SHARE
The following table summarizes the computation of basic and diluted EPS:
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Three Months Ended
September 30, |
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Nine Months Ended
September 30, |
| (In millions, except per share amounts) |
2023 |
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2022 |
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2023 |
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2022 |
| Income from continuing operations |
$ |
274Ìý
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$ |
165Ìý |
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$ |
587Ìý
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$ |
1,578Ìý |
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| Income from continuing operations attributable to noncontrolling interest |
(11) |
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(13) |
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(35) |
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(31) |
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| Net income from continuing operations attributable to Cliffs shareholders |
263Ìý
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152Ìý |
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552Ìý
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1,547Ìý |
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| Income from discontinued operations, net of tax |
1Ìý
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—Ìý |
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2Ìý
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2Ìý |
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| Net income attributable to Cliffs shareholders |
$ |
264Ìý
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$ |
152Ìý |
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$ |
554Ìý
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$ |
1,549Ìý |
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| Weighted average number of shares: |
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| Basic |
508Ìý
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516Ìý |
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512 |
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520 |
| Convertible senior notes |
—Ìý
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—Ìý |
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— |
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2 |
| Employee stock plans |
1Ìý
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3Ìý |
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1 |
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4 |
| Diluted |
509Ìý
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519Ìý |
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513 |
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526 |
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| Earnings per common share attributable to Cliffs shareholders - basic: |
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| Continuing operations |
$ |
0.52Ìý
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$ |
0.30Ìý |
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$ |
1.08Ìý
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$ |
2.98Ìý |
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| Discontinued operations |
—Ìý
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—Ìý |
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—Ìý
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—Ìý |
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$ |
0.52Ìý
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$ |
0.30Ìý |
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$ |
1.08Ìý
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$ |
2.98Ìý |
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| Earnings per common share attributable to Cliffs shareholders - diluted: |
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| Continuing operations |
$ |
0.52Ìý
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$ |
0.29Ìý |
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$ |
1.08Ìý
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$ |
2.95Ìý |
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| Discontinued operations |
—Ìý
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—Ìý |
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—Ìý
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—Ìý |
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$ |
0.52Ìý
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$ |
0.29Ìý |
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$ |
1.08Ìý
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$ |
2.95Ìý |
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