EARNINGS PER SHARE (Notes)

9 Months Ended

Sep. 30, 2020

The following table summarizes the computation of basic and diluted earnings per share:


	(In Millions, Except Per Share Amounts)
	Three Months Ended September 30,						Nine Months Ended September 30,
	2020		2019		2020		2019
Income (loss) from continuing operations	$	2.2	$	91.8	$	(154.8)	$	231.1
Income from continuing operations attributable to noncontrolling interest	(11.9)		—		(31.2)		—
Net income (loss) from continuing operations attributable to Cliffs shareholders	(9.7)		91.8		(186.0)		231.1
Loss from discontinued operations, net of tax	(0.3)		(0.9)		—		(1.5)
Net income (loss) attributable to Cliffs shareholders	$	(10.0)	$	90.9	$	(186.0)	$	229.6

Weighted average number of shares:
Basic	399.4		270.0		365.2		278.4
Convertible senior notes	—		3.7		—		5.8
Employee stock plans	—		2.9		—		3.6
Diluted	399.4		276.6		365.2		287.8

Earnings (loss) per common share attributable to Cliffs shareholders - basic:
Continuing operations	$	(0.02)	$	0.34	$	(0.51)	$	0.83
Discontinued operations	—		—		—		(0.01)
	$	(0.02)	$	0.34	$	(0.51)	$	0.82

Earnings (loss) per common share attributable to Cliffs shareholders - diluted:
Continuing operations	$	(0.02)	$	0.33	$	(0.51)	$	0.80
Discontinued operations	—		—		—		—
	$	(0.02)	$	0.33	$	(0.51)	$	0.80

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 September 30,			Nine Months Ended September 30,
	2020	2019	2020	2019
Shares related to employee stock plans	1.8	—	1.6	—

There was no dilution during the three and nine months ended September 30, 2020 related to the common share equivalents for the convertible senior notes as our common shares average price did not rise above the conversion price.