Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE (Tables)

v3.20.2
EARNINGS PER SHARE (Tables)
 6 Months Ended
Jun. 30, 2020
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)
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2020
 
2019
 
2020
 
2019
Income (loss) from continuing operations
$
(107.8
)
 
$
161.4

 
$
(157.0
)
 
$
139.3

Income from continuing operations attributable to noncontrolling interest
(15.8
)
 
—

 
(19.3
)
 
—

Net income (loss) from continuing operations attributable to Cliffs shareholders
(123.6
)
 
161.4

 
(176.3
)
 
139.3

Income (loss) from discontinued operations, net of tax
(0.3
)
 
(0.6
)
 
0.3

 
(0.6
)
Net income (loss) attributable to Cliffs shareholders
$
(123.9
)
 
$
160.8

 
$
(176.0
)
 
$
138.7

 
 
 
 
 
 
 
 
Weighted average number of shares:
 
 
 
 
 
 
 
Basic
399.1

 
275.8

 
348.3

 
282.6

Convertible senior notes
—

 
6.7

 
—

 
6.9

Employee stock plans
—

 
3.0

 
—

 
4.1

Diluted
399.1

 
285.5

 
348.3

 
293.6

 
 
 
 
 
 
 
 
Earnings (loss) per common share attributable to Cliffs shareholders - basic:
 
 
 
 
 
 
 
Continuing operations
$
(0.31
)
 
$
0.59

 
$
(0.51
)
 
$
0.49

Discontinued operations
—

 
—

 
—

 
—

 
$
(0.31
)
 
$
0.59

 
$
(0.51
)
 
$
0.49

 
 
 
 
 
 
 
 
Earnings (loss) per common share attributable to Cliffs shareholders - diluted:
 
 
 
 
 
 
 
Continuing operations
$
(0.31
)
 
$
0.57

 
$
(0.51
)
 
$
0.47

Discontinued operations
—

 
—

 
—

 
—

 
$
(0.31
)
 
$
0.57

 
$
(0.51
)
 
$
0.47


Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]
The following table summarizes the shares that have been excluded from the diluted earnings per share calculation as they were anti-dilutive:
 
(In Millions)
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2020
 
2019
 
2020
 
2019
Shares related to employee stock plans
1.8

 
—

 
1.8

 
—