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NOTE 19 - EARNINGS PER SHARE
The following table summarizes the computation of basic and diluted EPS:
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Year Ended December 31, |
| (In millions, except per share amounts) |
2025 |
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2024 |
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2023 |
| Income (loss) from continuing operations |
$ |
(1,423) |
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$ |
(714) |
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$ |
435 |
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| Income from continuing operations attributable to noncontrolling interest |
(50) |
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(46) |
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(51) |
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| Net income (loss) from continuing operations attributable to Cliffs shareholders |
(1,473) |
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(760) |
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384 |
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| Income (loss) from discontinued operations, net of tax |
(5) |
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— |
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1 |
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| Net income (loss) attributable to Cliffs shareholders |
$ |
(1,478) |
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$ |
(760) |
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$ |
385 |
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| Weighted average number of shares: |
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| Basic |
508
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480 |
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510 |
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| Employee stock plans |
—
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— |
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1 |
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| Diluted |
508
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480 |
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511 |
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| Earnings (loss) per common share attributable to Cliffs common shareholders - basic: |
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| Continuing operations |
$ |
(2.90) |
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$ |
(1.58) |
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$ |
0.75 |
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| Discontinued operations |
(0.01) |
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— |
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— |
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$ |
(2.91) |
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$ |
(1.58) |
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$ |
0.75 |
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| Earnings (loss) per common share attributable to Cliffs common shareholders - diluted: |
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| Continuing operations |
$ |
(2.90) |
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$ |
(1.58) |
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$ |
0.75 |
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| Discontinued operations |
(0.01) |
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— |
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— |
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$ |
(2.91) |
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$ |
(1.58) |
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$ |
0.75 |
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The following table summarizes the potentially dilutive shares that were excluded from the computation of diluted earnings per share because their effect would have been anti-dilutive:
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Year Ended December 31, |
| (In millions) |
2025 |
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2024 |
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2023 |
| Employee stock plans |
4 |
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2 |
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2 |
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