v3.22.2.2
Statements Of Unaudited Condensed Consolidated Operations - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Income Statement [Abstract]        
Revenues $ 5,653 $ 6,004 $ 17,945 $ 15,098
Operating costs:        
Cost of goods sold (5,305) (4,229) (15,367) (11,838)
Selling, general and administrative expenses (124) (116) (353) (329)
Miscellaneous – net (37) (10) (104) (38)
Total operating costs (5,466) (4,355) (15,824) (12,205)
Operating income 187 1,649 2,121 2,893
Other income (expense):        
Interest expense, net (64) (81) (205) (258)
Gain (loss) on extinguishment of debt 4 0 (76) (88)
Net periodic benefit credits other than service cost component 49 46 148 139
Other non-operating income (expense) (1) 1 (6) 5
Total other expense (12) (34) (139) (202)
Income from continuing operations before income taxes 175 1,615 1,982 2,691
Income tax expense (10) (334) (404) (559)
Income from continuing operations 165 1,281 1,578 2,132
Income from discontinued operations, net of tax 0 1 2 2
Net income 165 1,282 1,580 2,134
Income attributable to noncontrolling interest (13) (8) (31) (39)
Net income attributable to Cliffs shareholders $ 152 $ 1,274 $ 1,549 $ 2,095
Earnings per common share attributable to Cliffs shareholders - basic        
Continuing operations (in dollars per share) $ 0.30 $ 2.46 $ 2.98 $ 3.87
Discontinued operations (in dollars per share) 0 0 0 0
Earnings per Common Share - Basic (in dollars per share) 0.30 2.46 2.98 3.87
Earnings per common share attributable to Cliffs shareholders - diluted        
Continuing operations (in dollars per share) 0.29 2.33 2.95 3.69
Discontinued operations (in dollars per share) 0 0 0 0
Earnings per Common Share - Diluted (in dollars per share) $ 0.29 $ 2.33 $ 2.95 $ 3.69

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