Cleveland-Cliffs Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2020

The following table summarizes the computation of basic and diluted EPS:


	(In Millions, Except Per Share Amounts)
	Year Ended December 31,
	2020		2019		2018
Income (loss) from continuing operations	$	(82)	$	295	$	1,040
Income from continuing operations attributable to noncontrolling interest	(41)		—		—
Net income (loss) from continuing operations attributable to Cliffs shareholders	(123)		295		1,040
Income (loss) from discontinued operations, net of tax	1		(2)		88
Net income (loss) attributable to Cliffs shareholders	$	(122)	$	293	$	1,128

Weighted average number of shares:
Basic	379		277		297
Convertible senior notes	—		4		3
Employee stock plans	—		3		4
Diluted	379		284		304

Earnings (loss) per common share attributable to Cliffs common shareholders - basic:
Continuing operations	$	(0.32)	$	1.07	$	3.50
Discontinued operations	—		(0.01)		0.30
	$	(0.32)	$	1.06	$	3.80
Earnings (loss) per common share attributable to Cliffs common shareholders - diluted:
Continuing operations	$	(0.32)	$	1.04	$	3.42
Discontinued operations	—		(0.01)		0.29
	$	(0.32)	$	1.03	$	3.71

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following table summarizes the shares that have been excluded from the diluted earnings per share calculation for the year ended December 31, 2020, as they were anti-dilutive:


			(In Millions)
			2020
Redeemable preferred shares			4
Convertible senior notes			2
Shares related to employee stock plans			1