Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE (Tables)

v3.20.2
EARNINGS PER SHARE (Tables)
9 Months Ended
Sep. 30, 2020
Earnings Per Share [Abstract]  
Earnings Per Share Computation The following table summarizes the computation of basic and diluted earnings per share:
(In Millions, Except Per Share Amounts)
Three Months Ended
September 30,
Nine Months Ended
September 30,
2020 2019 2020 2019
Income (loss) from continuing operations $ 2.2  $ 91.8  $ (154.8) $ 231.1 
Income from continuing operations attributable to noncontrolling interest (11.9) —  (31.2) — 
Net income (loss) from continuing operations attributable to Cliffs shareholders (9.7) 91.8  (186.0) 231.1 
Loss from discontinued operations, net of tax (0.3) (0.9)   (1.5)
Net income (loss) attributable to Cliffs shareholders $ (10.0) $ 90.9  $ (186.0) $ 229.6 
Weighted average number of shares:
Basic 399.4  270.0  365.2  278.4 
Convertible senior notes   3.7    5.8 
Employee stock plans   2.9    3.6 
Diluted 399.4  276.6  365.2  287.8 
Earnings (loss) per common share attributable to Cliffs shareholders - basic:
Continuing operations $ (0.02) $ 0.34  $ (0.51) $ 0.83 
Discontinued operations   —    (0.01)
$ (0.02) $ 0.34  $ (0.51) $ 0.82 
Earnings (loss) per common share attributable to Cliffs shareholders - diluted:
Continuing operations $ (0.02) $ 0.33  $ (0.51) $ 0.80 
Discontinued operations   —    — 
$ (0.02) $ 0.33  $ (0.51) $ 0.80 
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] The following table summarizes the shares that have been excluded from the diluted earnings per share calculation as they were anti-dilutive:
(In Millions)
Three Months Ended
September 30,
Nine Months Ended
September 30,
2020 2019 2020 2019
Shares related to employee stock plans 1.8  —  1.6  —