Annual report pursuant to Section 13 and 15(d)

EARNINGS PER SHARE (Tables)

v3.19.3.a.u2
EARNINGS PER SHARE (Tables)
 12 Months Ended
Dec. 31, 2019
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)
 
Year Ended December 31,
 
2019
 
2018
 
2017
Income from continuing operations
$
294.5

 
$
1,039.9

 
$
360.6

Loss from continuing operations attributable to
noncontrolling interest
—

 
—

 
3.9

Net income from continuing operations
attributable to Cliffs shareholders
294.5

 
1,039.9

 
364.5

Income (loss) from discontinued operations, net of tax
(1.7
)
 
88.2

 
2.5

Net income attributable to Cliffs shareholders
$
292.8

 
$
1,128.1

 
$
367.0

 
 
 
 
 
 
Weighted average number of shares:
 
 
 
 
 
Basic
276.8

 
297.2

 
288.4

Convertible senior notes
4.4

 
3.4

 
—

Employee stock plans
3.3

 
3.5

 
4.6

Diluted
284.5

 
304.1

 
293.0

 
 
 
 
 
 
Earnings (loss) per common share attributable to
Cliffs common shareholders - basic:
 
 
 
 
 
Continuing operations
$
1.07

 
$
3.50

 
$
1.27

Discontinued operations
(0.01
)
 
0.30

 
0.01

 
$
1.06

 
$
3.80

 
$
1.28

Earnings (loss) per common share attributable to
Cliffs common shareholders - diluted:
 
 
 
 
 
Continuing operations
$
1.04

 
$
3.42

 
$
1.25

Discontinued operations
(0.01
)
 
0.29

 
0.01

 
$
1.03

 
$
3.71

 
$
1.26