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EARNINGS PER SHARE (Tables) | 9 Months Ended
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Sep. 30, 2022
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 September 30, |  | Nine Months Ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Income from continuing operations | $ | 165 |  |  | $ | 1,281 |  |  | $ | 1,578 |  |  | $ | 2,132 |
Income from continuing operations attributable to noncontrolling interest | (13) |  |  | (8) |  |  | (31) |  |  | (39) |
Net income from continuing operations attributable to Cliffs shareholders | 152 |  |  | 1,273 |  |  | 1,547 |  |  | 2,093 |
Income from discontinued operations, net of tax | — |  |  | 1 |  |  | 2 |  |  | 2 |
Net income attributable to Cliffs shareholders | $ | 152 |  |  | $ | 1,274 |  |  | $ | 1,549 |  |  | $ | 2,095 |
Weighted average number of shares: |  |  |  |  |  |  |
Basic | 516 |  |  | 500 |  |  | 520 |  | 497
Redeemable preferred shares | — |  |  | 17 |  |  | — |  | 44
Convertible senior notes 1 | — |  |  | 24 |  |  | 2 |  | 21
Employee stock plans | 3 |  |  | 6 |  |  | 4 |  | 5
Diluted | 519 |  |  | 547 |  |  | 526 |  | 567
Earnings per common share attributable to Cliffs shareholders - basic 2: |  |  |  |  |  |  |
Continuing operations | $ | 0.30 |  |  | $ | 2.46 |  |  | $ | 2.98 |  |  | $ | 3.87 |
Discontinued operations | — |  |  | — |  |  | — |  |  | — |
| $ | 0.30 |  |  | $ | 2.46 |  |  | $ | 2.98 |  |  | $ | 3.87 |
Earnings per common share attributable to Cliffs shareholders - diluted: |  |  |  |  |  |  |
Continuing operations | $ | 0.29 |  |  | $ | 2.33 |  |  | $ | 2.95 |  |  | $ | 3.69 |
Discontinued operations | — |  |  | — |  |  | — |  |  | — |
| $ | 0.29 |  |  | $ | 2.33 |  |  | $ | 2.95 |  |  | $ | 3.69 |
1 On January 1, 2022, we adopted ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity's Own Equity (Subtopic 815-40). We utilized the modified retrospective method of adoption; using this approach, the guidance was applied to transactions outstanding as of the beginning of the fiscal year.
2 For the three and nine months ended September 30, 2021, basic earnings per share is calculated by dividing Net income attributable to Cliffs shareholders, less $42 million and $172 million, respectively, 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 https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 + Details
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