Quarterly report [Sections 13 or 15(d)]

EARNINGS PER SHARE (Tables)

v3.25.2
EARNINGS PER SHARE (Tables)
 6 Months Ended
Jun. 30, 2025
Earnings Per Share [Abstract]  
Earnings Per Share Computation
The following table summarizes the computation of basic and diluted EPS:
Three Months Ended
June 30,		 Six Months Ended
June 30,
(In millions, except per share amounts) 2025 2024 2025 2024
Net income (loss) $ (470) $ 9  $ (953) $ (44)
Net income attributable to noncontrolling interests (13) (7) (25) (21)
Net income (loss) attributable to Cliffs shareholders $ (483) $ 2  $ (978) $ (65)
Weighted average number of shares:
Basic 495  473  495 483
Employee stock plans1
—  1  — —
Diluted 495  474  495 483
Earnings (loss) per common share attributable to Cliffs shareholders:
Basic $ (0.97) $ 0.00  $ (1.97) $ (0.13)
Diluted $ (0.97) $ 0.00  $ (1.97) $ (0.13)
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.