EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

EARNINGS PER SHARE

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

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