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Quarterly report pursuant to Section 13 or 15(d)

Statements Of Unaudited Condensed Consolidated Operations

v3.23.1
Statements Of Unaudited Condensed Consolidated Operations - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Income Statement [Abstract] Ìý Ìý
Revenues $ 5,295 $ 5,955
Operating costs: Ìý Ìý
Cost of goods sold (5,196) (4,706)
Selling, general and administrative expenses (127) (122)
Miscellaneous – net (3) (33)
Total operating costs (5,326) (4,861)
Operating income (loss) (31) 1,094
Other income (expense): Ìý Ìý
Interest expense, net (77) (77)
Loss on extinguishment of debt 0 (14)
Net periodic benefit credits other than service cost component 50 49
Other non-operating income (expense) 2 (2)
Total other expense (25) (44)
Income (loss) from continuing operations before income taxes (56) 1,050
Income tax benefit (expense) 13 (237)
Income (loss) from continuing operations (43) 813
Income from discontinued operations, net of tax 1 1
Net income (loss) (42) 814
Income attributable to noncontrolling interest (15) (13)
Net income (loss) attributable to Cliffs shareholders $ (57) $ 801
Earnings (loss) per common share attributable to Cliffs shareholders - basic Ìý Ìý
Continuing operations (in dollars per share) $ (0.11) $ 1.54
Discontinued operations (in dollars per share) 0 0
Earnings per Common Share - Basic (in dollars per share) (0.11) 1.54
Earnings (loss) per common share attributable to Cliffs shareholders - diluted Ìý Ìý
Continuing operations (in dollars per share) (0.11) 1.50
Discontinued operations (in dollars per share) 0 0
Earnings per Common Share - Diluted (in dollars per share) $ (0.11) $ 1.50