|
NOTE 16 - EARNINGS PER SHARE
The following table summarizes the computation of basic and diluted EPS:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
June 30, |
|
Six Months Ended
June 30, |
| (In millions, except per share amounts) |
2023 |
|
2022 |
|
2023 |
|
2022 |
| Income from continuing operations |
$ |
356Ìý
|
|
|
$ |
600Ìý |
|
|
$ |
313Ìý
|
|
|
$ |
1,413Ìý |
|
| Income from continuing operations attributable to noncontrolling interest |
(9) |
|
|
(5) |
|
|
(24) |
|
|
(18) |
|
| Net income from continuing operations attributable to Cliffs shareholders |
347Ìý
|
|
|
595Ìý |
|
|
289Ìý
|
|
|
1,395Ìý |
|
| Income from discontinued operations, net of tax |
—Ìý
|
|
|
1Ìý |
|
|
1Ìý
|
|
|
2Ìý |
|
| Net income attributable to Cliffs shareholders |
$ |
347Ìý
|
|
|
$ |
596Ìý |
|
|
$ |
290Ìý
|
|
|
$ |
1,397Ìý |
|
|
|
|
|
|
|
|
|
| Weighted average number of shares: |
|
|
|
|
|
|
|
| Basic |
513Ìý
|
|
|
523Ìý |
|
|
514 |
|
522 |
| Convertible senior notes |
—Ìý
|
|
|
—Ìý |
|
|
— |
|
4 |
| Employee stock plans |
1Ìý
|
|
|
3Ìý |
|
|
1 |
|
3 |
| Diluted |
514Ìý
|
|
|
526Ìý |
|
|
515 |
|
529 |
|
|
|
|
|
|
|
|
| Earnings per common share attributable to Cliffs shareholders - basic: |
|
|
|
|
|
|
|
| Continuing operations |
$ |
0.68Ìý
|
|
|
$ |
1.14Ìý |
|
|
$ |
0.56Ìý
|
|
|
$ |
2.67Ìý |
|
| Discontinued operations |
—Ìý
|
|
|
—Ìý |
|
|
—Ìý
|
|
|
—Ìý |
|
|
$ |
0.68Ìý
|
|
|
$ |
1.14Ìý |
|
|
$ |
0.56Ìý
|
|
|
$ |
2.67Ìý |
|
|
|
|
|
|
|
|
|
| Earnings per common share attributable to Cliffs shareholders - diluted: |
|
|
|
|
|
|
|
| Continuing operations |
$ |
0.67Ìý
|
|
|
$ |
1.13Ìý |
|
|
$ |
0.56Ìý
|
|
|
$ |
2.64Ìý |
|
| Discontinued operations |
—Ìý
|
|
|
—Ìý |
|
|
—Ìý
|
|
|
—Ìý |
|
|
$ |
0.67Ìý
|
|
|
$ |
1.13Ìý |
|
|
$ |
0.56Ìý
|
|
|
$ |
2.64Ìý |
|
|