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NOTE 17 - EARNINGS PER SHARE
The following table summarizes the computation of basic and diluted EPS:
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Three Months Ended
June 30, |
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Six Months Ended
June 30, |
| (In millions, except per share amounts) |
2025 |
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2024 |
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2025 |
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2024 |
| Net income (loss) |
$ |
(470) |
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$ |
9 |
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$ |
(953) |
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$ |
(44) |
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| Net income attributable to noncontrolling interests |
(13) |
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(7) |
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(25) |
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(21) |
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| Net income (loss) attributable to Cliffs shareholders |
$ |
(483) |
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$ |
2 |
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$ |
(978) |
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$ |
(65) |
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| Weighted average number of shares: |
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| Basic |
495
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473 |
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495 |
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483 |
Employee stock plans1
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—
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1 |
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— |
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— |
| Diluted |
495
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474 |
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495 |
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483 |
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| Earnings (loss) per common share attributable to Cliffs shareholders: |
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| Basic |
$ |
(0.97) |
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$ |
0.00 |
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$ |
(1.97) |
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$ |
(0.13) |
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| Diluted |
$ |
(0.97) |
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$ |
0.00 |
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$ |
(1.97) |
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$ |
(0.13) |
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1 For the three and six months ended June 30, 2025, 4 million and 2 million potentially dilutive shares, respectively, were excluded from the computation of diluted earnings per share because their effect would have been anti-dilutive. For both the three and six months ended June 30, 2024, 2 million potentially dilutive shares were excluded from the computation of diluted earnings per share because their effect would have been anti-dilutive.
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