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Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE (Tables)

v3.20.2
EARNINGS PER SHARE (Tables)
6 Months Ended
Jun. 30, 2020
Earnings Per Share [Abstract] Ìý
Earnings Per Share Computation
The following table summarizes the computation of basic and diluted earnings per share:
Ìý
(In Millions, Except Per Share Amounts)
Ìý
Three Months Ended
June 30,
Ìý
Six Months Ended
June 30,
Ìý
2020
Ìý
2019
Ìý
2020
Ìý
2019
Income (loss) from continuing operations
$
(107.8
)
Ìý
$
161.4

Ìý
$
(157.0
)
Ìý
$
139.3

Income from continuing operations attributable to noncontrolling interest
(15.8
)
Ìý
—

Ìý
(19.3
)
Ìý
—

Net income (loss) from continuing operations attributable to Cliffs shareholders
(123.6
)
Ìý
161.4

Ìý
(176.3
)
Ìý
139.3

Income (loss) from discontinued operations, net of tax
(0.3
)
Ìý
(0.6
)
Ìý
0.3

Ìý
(0.6
)
Net income (loss) attributable to Cliffs shareholders
$
(123.9
)
Ìý
$
160.8

Ìý
$
(176.0
)
Ìý
$
138.7

Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Weighted average number of shares:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Basic
399.1

Ìý
275.8

Ìý
348.3

Ìý
282.6

Convertible senior notes
—

Ìý
6.7

Ìý
—

Ìý
6.9

Employee stock plans
—

Ìý
3.0

Ìý
—

Ìý
4.1

Diluted
399.1

Ìý
285.5

Ìý
348.3

Ìý
293.6

Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Earnings (loss) per common share attributable to Cliffs shareholders - basic:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Continuing operations
$
(0.31
)
Ìý
$
0.59

Ìý
$
(0.51
)
Ìý
$
0.49

Discontinued operations
—

Ìý
—

Ìý
—

Ìý
—

Ìý
$
(0.31
)
Ìý
$
0.59

Ìý
$
(0.51
)
Ìý
$
0.49

Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Earnings (loss) per common share attributable to Cliffs shareholders - diluted:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Continuing operations
$
(0.31
)
Ìý
$
0.57

Ìý
$
(0.51
)
Ìý
$
0.47

Discontinued operations
—

Ìý
—

Ìý
—

Ìý
—

Ìý
$
(0.31
)
Ìý
$
0.57

Ìý
$
(0.51
)
Ìý
$
0.47


Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]
The following table summarizes the shares that have been excluded from the diluted earnings per share calculation as they were anti-dilutive:
Ìý
(In Millions)
Ìý
Three Months Ended
June 30,
Ìý
Six Months Ended
June 30,
Ìý
2020
Ìý
2019
Ìý
2020
Ìý
2019
Shares related to employee stock plans
1.8

Ìý
—

Ìý
1.8

Ìý
—