v3.24.2
Statements Of Unaudited Condensed Consolidated Operations - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Income Statement [Abstract]        
Revenues $ 5,092 $ 5,984 $ 10,291 $ 11,279
Operating costs:        
Cost of goods sold (4,930) (5,340) (9,844) (10,536)
Selling, general and administrative expenses (103) (149) (235) (276)
Restructuring and other charges (25) 0 (129) 0
Asset impairment (15) 0 (79) 0
Miscellaneous – net (13) (12) (36) (15)
Total operating costs (5,086) (5,501) (10,323) (10,827)
Operating income (loss) 6 483 (32) 452
Other income (expense):        
Interest expense, net (69) (79) (133) (156)
Loss on extinguishment of debt (6) 0 (27) 0
Net periodic benefit credits other than service cost component 62 50 122 100
Other non-operating income 1 4 3 6
Total other expense (12) (25) (35) (50)
Income (loss) from continuing operations before income taxes (6) 458 (67) 402
Income tax benefit (expense) 15 (102) 23 (89)
Income (loss) from continuing operations 9 356 (44) 313
Income from discontinued operations, net of tax 0 0 0 1
Net income (loss) 9 356 (44) 314
Income attributable to noncontrolling interests (7) (9) (21) (24)
Net income (loss) attributable to Cliffs shareholders $ 2 $ 347 $ (65) $ 290
Earnings (loss) per common share attributable to Cliffs shareholders - basic        
Continuing operations (in dollars per share) $ 0 $ 0.68 $ (0.13) $ 0.56
Discontinued operations (in dollars per share) 0 0 0 0
Earnings per Common Share - Basic (in dollars per share) 0 0.68 (0.13) 0.56
Earnings (loss) per common share attributable to Cliffs shareholders - diluted        
Continuing operations (in dollars per share) 0 0.67 (0.13) 0.56
Discontinued operations (in dollars per share) 0 0 0 0
Earnings per Common Share - Diluted (in dollars per share) $ 0 $ 0.67 $ (0.13) $ 0.56

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