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Annual report pursuant to Section 13 and 15(d)

EARNINGS PER SHARE (Tables)

v3.20.4
EARNINGS PER SHARE (Tables)
 12 Months Ended
Dec. 31, 2020
Earnings Per Share [Abstract] 听
Earnings Per Share Computation
The following table summarizes the computation of basic and diluted EPS:
(In Millions, Except Per Share Amounts)
Year Ended December 31,
2020 2019 2018
Income (loss) from continuing operations $ (82) $ 295听 $ 1,040听
Income from continuing operations attributable to noncontrolling interest (41) 鈥斕� 鈥斕�
Net income (loss) from continuing operations attributable to Cliffs shareholders (123) 295听 1,040听
Income (loss) from discontinued operations, net of tax 1听 (2) 88听
Net income (loss) attributable to Cliffs shareholders $ (122) $ 293听 $ 1,128听
Weighted average number of shares:
Basic 379听 277听 297听
Convertible senior notes 鈥�听 4听 3听
Employee stock plans 鈥�听 3听 4听
Diluted 379听 284听 304听
Earnings (loss) per common share attributable to
Cliffs common shareholders - basic:
Continuing operations $ (0.32) $ 1.07听 $ 3.50听
Discontinued operations 鈥�听 (0.01) 0.30听
$ (0.32) $ 1.06听 $ 3.80听
Earnings (loss) per common share attributable to
Cliffs common shareholders - diluted:
Continuing operations $ (0.32) $ 1.04听 $ 3.42听
Discontinued operations 鈥�听 (0.01) 0.29听
$ (0.32) $ 1.03听 $ 3.71听
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share
The following table summarizes the shares that have been excluded from the diluted earnings per share calculation for the year ended December 31, 2020, as they were anti-dilutive:
(In Millions)
2020
Redeemable preferred shares 4听
Convertible senior notes 2听
Shares related to employee stock plans 1听