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EARNINGS PER SHARE | 12 Months Ended
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Dec. 31, 2022
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | NOTE 19 - EARNINGS PER SHARE The following table summarizes the computation of basic and diluted EPS:
| Year Ended December 31,
(In millions, except per share amounts) | 2022 |  | 2021 |  | 2020
Income (loss) from continuing operations | $ | 1,373 |  |  | $ | 3,030 |  |  | $ | (82) |
Income from continuing operations attributable to noncontrolling interest | (41) |  |  | (45) |  |  | (41) |
Net income (loss) from continuing operations attributable to Cliffs shareholders | 1,332 |  |  | 2,985 |  |  | (123) |
Income from discontinued operations, net of tax | 3 |  |  | 3 |  |  | 1 |
Net income (loss) attributable to Cliffs shareholders | $ | 1,335 |  |  | $ | 2,988 |  |  | $ | (122) |
Weighted average number of shares: |  |  |  |  |
Basic | 519 |  |  | 498 |  |  | 379 |
Redeemable preferred shares | — |  |  | 33 |  |  | — |
Convertible senior notes 1 | 2 |  |  | 22 |  |  | — |
Employee stock plans | 3 |  |  | 5 |  |  | — |
Diluted | 524 |  |  | 558 |  |  | 379 |
Earnings (loss) per common share attributable to Cliffs common shareholders - basic 2: |  |  |  |  |
Continuing operations | $ | 2.57 |  |  | $ | 5.62 |  |  | $ | (0.32) |
Discontinued operations | — |  |  | 0.01 |  |  | — |
| $ | 2.57 |  |  | $ | 5.63 |  |  | $ | (0.32) |
Earnings (loss) per common share attributable to Cliffs common shareholders - diluted: |  |  |  |  |
Continuing operations | $ | 2.55 |  |  | $ | 5.35 |  |  | $ | (0.32) |
Discontinued operations | — |  |  | 0.01 |  |  | — |
| $ | 2.55 |  |  | $ | 5.36 |  |  | $ | (0.32) |
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 year ended December 31, 2021, basic earnings per share was calculated by dividing Net income (loss) attributable to Cliffs shareholders, less $187 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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