Cleveland-Cliffs Inc. Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE (Tables)

3 Months Ended

Mar. 31, 2024

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


	Three Months Ended March 31,
(In millions, except per share amounts)		2024		2023
Loss from continuing operations		$	(53)	$	(43)
Income from continuing operations attributable to noncontrolling interests		(14)		(15)
Net loss from continuing operations attributable to Cliffs shareholders		(67)		(58)
Income from discontinued operations, net of tax		—		1
Net loss attributable to Cliffs shareholders		$	(67)	$	(57)

Weighted average number of shares:
Basic		492		515

Employee stock plans1		—		—
Diluted		492		515

Loss per common share attributable to Cliffs shareholders - basic:
Continuing operations		$	(0.14)	$	(0.11)
Discontinued operations		—		—
		$	(0.14)	$	(0.11)

Loss per common share attributable to Cliffs shareholders - diluted:
Continuing operations		$	(0.14)	$	(0.11)
Discontinued operations		—		—
		$	(0.14)	$	(0.11)

1 For the three months ended March 31, 2024 and 2023, we had 2 million and 1 million shares, respectively, related to employee stock plans that were excluded from the diluted EPS calculation as they were anti-dilutive.