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Quarterly report pursuant to Section 13 or 15(d)

Statements Of Condensed Consolidated Operations

v3.2.0.727
Statements Of Condensed Consolidated Operations - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
REVENUES FROM PRODUCT SALES AND SERVICES Ìý Ìý Ìý Ìý
Product $ 454.3 $ 696.3 $ 857.4 $ 1,259.8
Freight and venture partners' cost reimbursements 43.8 51.4 86.7 103.4
TOTAL REVENUES 498.1 747.7 944.1 1,363.2
COST OF GOODS SOLD AND OPERATING EXPENSES (440.8) (564.2) (806.0) (989.7)
SALES MARGIN 57.3 183.5 138.1 373.5
OTHER OPERATING INCOME (EXPENSE) Ìý Ìý Ìý Ìý
Selling, general and administrative expenses (30.8) (40.9) (59.8) (81.4)
Miscellaneous - net (0.8) (3.3) 19.3 (13.6)
Other operating expense (31.6) (44.2) (40.5) (95.0)
OPERATING INCOME 25.7 139.3 97.6 278.5
OTHER INCOME (EXPENSE) Ìý Ìý Ìý Ìý
Interest expense, net (63.6) (42.1) (106.5) (82.5)
Gain on extinguishment of debt 0.0 0.0 313.7 0.0
Other non-operating income (expense) (2.1) 1.6 (2.9) 2.4
TOTAL OTHER EXPENSE (65.7) (40.5) 204.3 (80.1)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND EQUITY LOSS FROM VENTURES (40.0) 98.8 301.9 198.4
INCOME TAX BENEFIT (EXPENSE) 1.8 (7.6) (173.3) (37.2)
EQUITY LOSS FROM VENTURES, net of tax 0.0 (0.3) 0.0 (0.6)
INCOME (LOSS) FROM CONTINUING OPERATIONS (38.2) 90.9 128.6 160.6
INCOME (LOSS) FROM DISCONTINUED OPERATIONS, net of tax 103.4 (76.4) (825.1) (216.8)
NET INCOME (LOSS) 65.2 14.5 (696.5) (56.2)
INCOME ATTRIBUTABLE TO NONCONTROLLING INTEREST (5.0) (3.6) (3.1) (3.2)
NET INCOME (LOSS) ATTRIBUTABLE TO CLIFFS SHAREHOLDERS 60.2 10.9 (699.6) (59.4)
PREFERRED STOCK DIVIDENDS 0.0 (12.8) (12.8) (25.6)
NET INCOME (LOSS) ATTRIBUTABLE TO CLIFFS COMMON SHAREHOLDERS $ 60.2 $ (1.9) $ (712.4) $ (85.0)
Earnings (Loss) Per Common Share Attributable to Cliffs Shareholders - Basic Ìý Ìý Ìý Ìý
Continuing operations $ (0.28) $ 0.49 $ 0.74 $ 0.86
Discontinued operations 0.67 (0.50) (5.39) (1.42)
Earnings (Loss) per Common Share Attributable to Cliffs Common Shareholders - Basic: 0.39 (0.01) (4.65) (0.56)
Earnings (Loss) Per Common Share Attributable to Cliffs Shareholders - Diluted Ìý Ìý Ìý Ìý
Continuing operations (0.28) 0.48 0.70 0.86
Discontinued operations 0.67 (0.50) (4.62) (1.41)
Earnings (Loss) per Common Share Attributable to Cliffs Common Shareholders - Diluted: $ 0.39 $ (0.02) $ (3.92) $ (0.55)
Weighted Average Number of Shares Outstanding Reconciliation [Abstract] Ìý Ìý Ìý Ìý
Basic 153,232 153,087 153,203 153,064
Diluted 153,232 153,881 178,685 153,860
CASH DIVIDENDS DECLARED PER DEPOSITARY SHARE $ 0.00 $ 0.44 $ 0.44 $ 0.88
CASH DIVIDENDS DECLARED PER COMMON SHARE $ 0.00 $ 0.15 $ 0.00 $ 0.30