v3.24.0.1
Statements Of Consolidated Operations - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Income Statement [Abstract]      
Revenues $ 21,996 $ 22,989 $ 20,444
Operating costs:      
Cost of goods sold (20,605) (20,471) (15,910)
Selling, general and administrative expenses (577) (465) (422)
Acquisition-related costs (12) (4) (20)
Goodwill impairment (125) 0 0
Miscellaneous – net 0 (110) (80)
Total operating costs (21,319) (21,050) (16,432)
Operating income 677 1,939 4,012
Other income (expense):      
Interest expense, net (289) (276) (337)
Loss on extinguishment of debt 0 (75) (88)
Net periodic benefit credits other than service cost component 204 212 210
Other non-operating income (loss) 5 (4) 6
Total other expense (80) (143) (209)
Income from continuing operations before income taxes 597 1,796 3,803
Income tax expense (148) (423) (773)
Income from continuing operations 449 1,373 3,030
Income from discontinued operations, net of tax 1 3 3
Net income 450 1,376 3,033
Net income attributable to noncontrolling interests (51) (41) (45)
Net income attributable to Cliffs shareholders $ 399 $ 1,335 $ 2,988
Earnings per common share attributable to Cliffs shareholders - basic      
Continuing operations (in dollars per share) $ 0.78 $ 2.57 $ 5.62
Discontinued operations (in dollars per share) 0 0 0.01
Earnings (loss) per common share attributable to Cliffs common shareholders - basic (in dollars per share) 0.78 2.57 5.63
Earnings per common share attributable to Cliffs shareholders - diluted      
Continuing operations (in dollars per share) 0.78 2.55 5.35
Discontinued operations (in dollars per share) 0 0 0.01
Earnings (loss) per common share attributable to Cliffs common shareholders - diluted (in dollars per share) $ 0.78 $ 2.55 $ 5.36

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