EARNINGS PER SHARE (Tables)

6 Months Ended

Jun. 30, 2024

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)	2024		2023		2024		2023
Income (loss) from continuing operations	$	9	$	356	$	(44)	$	313
Income from continuing operations attributable to noncontrolling interests	(7)		(9)		(21)		(24)
Net income (loss) from continuing operations attributable to Cliffs shareholders	2		347		(65)		289
Income from discontinued operations, net of tax	—		—		—		1
Net income (loss) attributable to Cliffs shareholders	$	2	$	347	$	(65)	$	290
Weighted average number of shares:
Basic	473		513		483		514
Employee stock plans1	1		1		—		1
Diluted	474		514		483		515
Earnings (loss) per common share attributable to Cliffs shareholders - basic:
Continuing operations	$	—	$	0.68	$	(0.13)	$	0.56
Discontinued operations	—		—		—		—
	$	—	$	0.68	$	(0.13)	$	0.56
Earnings (loss) per common share attributable to Cliffs shareholders - diluted:
Continuing operations	$	—	$	0.67	$	(0.13)	$	0.56
Discontinued operations	—		—		—		—
	$	—	$	0.67	$	(0.13)	$	0.56
1Excluded from the diluted EPS calculation are anti-dilutive shares related to employee stock plans. For the three and six months ended June 30, 2024, 2 million and 2 million shares, respectively, were excluded. For the three and six months ended June 30, 2023, 3 million and 2 million shares, respectively, were excluded.