v3.21.2
Statements Of Unaudited Condensed Consolidated Operations - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Income Statement [Abstract]        
Revenues $ 6,004 $ 1,646 $ 15,098 $ 3,098
Operating costs:        
Cost of goods sold (4,229) (1,525) (11,838) (3,089)
Selling, general and administrative expenses (112) (59) (311) (149)
Acquisition-related costs (4) (7) (18) (68)
Miscellaneous – net (10) (17) (38) (41)
Total operating costs (4,355) (1,608) (12,205) (3,347)
Operating income (loss) 1,649 38 2,893 (249)
Other income (expense):        
Interest expense, net (81) (68) (258) (168)
Gain (loss) on extinguishment of debt 0 0 (88) 133
Net periodic benefit credits other than service cost component 46 9 139 30
Other non-operating income 1 1 5 1
Total other expense (34) (58) (202) (4)
Income (loss) from continuing operations before income taxes 1,615 (20) 2,691 (253)
Income tax benefit (expense) (334) 22 (559) 98
Income (loss) from continuing operations 1,281 2 2,132 (155)
Income from discontinued operations, net of tax 1 0 2 0
Net income (loss) 1,282 2 2,134 (155)
Income attributable to noncontrolling interest (8) (12) (39) (31)
Net income (loss) attributable to Cliffs shareholders $ 1,274 $ (10) $ 2,095 $ (186)
Earnings (loss) per common share attributable to Cliffs shareholders - basic        
Continuing operations (in dollars per share) $ 2.46 $ (0.02) $ 3.87 $ (0.51)
Discontinued operations (in dollars per share) 0 0 0 0
Earnings (Loss) per Common Share - Basic (in dollars per share) 2.46 (0.02) 3.87 (0.51)
Earnings (loss) per common share attributable to Cliffs shareholders - diluted        
Continuing operations (in dollars per share) 2.33 (0.02) 3.69 (0.51)
Discontinued operations (in dollars per share) 0 0 0 0
Earnings (Loss) per Common Share - Diluted (in dollars per share) $ 2.33 $ (0.02) $ 3.69 $ (0.51)

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