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EARNINGS PER SHARE (Tables) | 3 Months Ended
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Mar. 31, 2021
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 March 31,
|  |  |  |  | 2021 |  | 2020
Income (loss) from continuing operations |  |  |  |  | $ | 57 |  |  | $ | (50) |
Income from continuing operations attributable to noncontrolling interest |  |  |  |  | (16) |  |  | (3) |
Net income (loss) from continuing operations attributable to Cliffs shareholders |  |  |  |  | 41 |  |  | (53) |
Income from discontinued operations, net of tax |  |  |  |  | — |  |  | 1 |
Net income (loss) attributable to Cliffs shareholders |  |  |  |  | $ | 41 |  |  | $ | (52) |
Weighted average number of shares: |  |  |  |  |  |  |
Basic |  |  |  |  | 490 |  | 298
Redeemable preferred shares |  |  |  |  | 58 |  | —
Convertible senior notes |  |  |  |  | 19 |  | —
Employee stock plans |  |  |  |  | 4 |  | —
Diluted |  |  |  |  | 571 |  | 298
Earnings (loss) per common share attributable to Cliffs shareholders - basic 1: |  |  |  |  |  |  |
Continuing operations |  |  |  |  | $ | 0.08 |  |  | $ | (0.18) |
Discontinued operations |  |  |  |  | — |  |  | — |
|  |  |  |  | $ | 0.08 |  |  | $ | (0.18) |
Earnings (loss) per common share attributable to Cliffs shareholders - diluted: |  |  |  |  |  |  |
Continuing operations |  |  |  |  | $ | 0.07 |  |  | $ | (0.18) |
Discontinued operations |  |  |  |  | — |  |  | — |
|  |  |  |  | $ | 0.07 |  |  | $ | (0.18) |
1 For the three months ended March 31, 2021, basic earnings per share is calculated by dividing Net income (loss) attributable to Cliffs shareholders, less $4 million of earnings attributed to Series B Participating Redeemable Preferred Stock, by the weighted average number of basic common shares outstanding during the period presented.

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
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