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Annual report pursuant to Section 13 and 15(d)

Statements Of Consolidated Operations

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Statements Of Consolidated Operations - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Income Statement [Abstract] Ìý Ìý Ìý
Revenues $ 20,444 $ 5,354 $ 1,990
Operating costs: Ìý Ìý Ìý
Cost of goods sold (15,910) (5,102) (1,414)
Selling, general and administrative expenses (422) (244) (113)
Acquisition-related costs (20) (90) (7)
Miscellaneous – net (80) (60) (27)
Total operating costs (16,432) (5,496) (1,561)
Operating income (loss) 4,012 (142) 429
Other income (expense): Ìý Ìý Ìý
Interest expense, net (337) (238) (101)
Gain (loss) on extinguishment of debt (88) 130 (18)
Net periodic benefit credits (costs) other than service cost component 210 54 (1)
Other non-operating income 6 3 4
Total other expense (209) (51) (116)
Income (loss) from continuing operations before income taxes 3,803 (193) 313
Income tax benefit (expense) (773) 111 (18)
Income (loss) from continuing operations 3,030 (82) 295
Income (loss) from discontinued operations, net of tax 3 1 (2)
Net income (loss) 3,033 (81) 293
Income attributable to noncontrolling interest (45) (41) 0
Net income (loss) attributable to Cliffs shareholders $ 2,988 $ (122) $ 293
Earnings (loss) per common share attributable to Cliffs shareholders - basic Ìý Ìý Ìý
Continuing operations (in dollars per share) $ 5.62 $ (0.32) $ 1.07
Discontinued operations (in dollars per share) 0.01 0 (0.01)
Earnings (loss) per common share attributable to Cliffs common shareholders - basic (in dollars per share) 5.63 (0.32) 1.06
Earnings (loss) per common share attributable to Cliffs shareholders - diluted Ìý Ìý Ìý
Continuing operations (in dollars per share) 5.35 (0.32) 1.04
Discontinued operations (in dollars per share) 0.01 0 (0.01)
Earnings (loss) per common share attributable to Cliffs common shareholders - diluted (in dollars per share) $ 5.36 $ (0.32) $ 1.03