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Quarterly report pursuant to Section 13 or 15(d)

Statements Of Condensed Consolidated Operations

v3.5.0.2
Statements Of Condensed Consolidated Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
REVENUES FROM PRODUCT SALES AND SERVICES Ìý Ìý Ìý Ìý
Product $ 508.6 $ 542.5 $ 1,237.0 $ 1,399.9
Freight and venture partners' cost reimbursements 44.7 50.7 118.0 137.4
TOTAL REVENUES 553.3 593.2 1,355.0 1,537.3
COST OF GOODS SOLD AND OPERATING EXPENSES (467.9) (538.1) (1,147.2) (1,344.1)
SALES MARGIN 85.4 55.1 207.8 193.2
OTHER OPERATING INCOME (EXPENSE) Ìý Ìý Ìý Ìý
Selling, general and administrative expenses (31.1) (22.4) (81.8) (82.2)
Miscellaneous - net (19.6) (3.5) (16.9) 15.8
Other operating expense (50.7) (25.9) (98.7) (66.4)
OPERATING INCOME 34.7 29.2 109.1 126.8
OTHER INCOME (EXPENSE) Ìý Ìý Ìý Ìý
Interest expense, net (48.7) (61.7) (156.2) (168.2)
Gain (loss) on extinguishment/restructuring of debt (18.3) 79.2 164.1 392.9
Other non-operating income (expense) 0.1 (0.1) 0.4 (3.0)
TOTAL OTHER INCOME (EXPENSE) (66.9) 17.4 8.3 221.7
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES (32.2) 46.6 117.4 348.5
INCOME TAX BENEFIT (EXPENSE) 7.1 3.4 1.7 (169.9)
Income (Loss) from Equity Method Investments 0.0 (0.1) 0.0 (0.1)
INCOME (LOSS) FROM CONTINUING OPERATIONS (25.1) 49.9 119.1 178.5
LOSS FROM DISCONTINUED OPERATIONS, NET OF TAX (2.7) (43.9) (0.6) (869.0)
NET INCOME (LOSS) (27.8) 6.0 118.5 (690.5)
LOSS (INCOME) ATTRIBUTABLE TO NONCONTROLLING INTEREST 2.0 4.6 (23.5) 1.5
NET INCOME (LOSS) ATTRIBUTABLE TO CLIFFS SHAREHOLDERS (25.8) 10.6 95.0 (689.0)
PREFERRED STOCK DIVIDENDS 0.0 (25.6) 0.0 (38.4)
NET INCOME (LOSS) ATTRIBUTABLE TO CLIFFS COMMON SHAREHOLDERS $ (25.8) $ (15.0) $ 95.0 $ (727.4)
EARNINGS (LOSS) PER COMMON SHARE ATTRIBUTABLE TO CLIFFS SHAREHOLDERS - BASIC Ìý Ìý Ìý Ìý
Continuing operations (in dollars per share) $ (0.11) $ 0.19 $ 0.51 $ 0.87
Discontinued operations (in dollars per share) (0.01) (0.29) 0.00 (5.62)
Earnings (Loss) per Common Share Attributable to Cliffs Common Shareholders - Basic (in dollars per share) (0.12) (0.10) 0.51 (4.75)
EARNINGS (LOSS) PER COMMON SHARE ATTRIBUTABLE TO CLIFFS SHAREHOLDERS - DILUTED Ìý Ìý Ìý Ìý
Continuing operations (in dollars per share) (0.11) 0.19 0.51 0.87
Discontinued operations (in dollars per share) (0.01) (0.29) 0.00 (5.62)
Earnings (Loss) per Common Share Attributable to Cliffs Common Shareholders - Diluted (in dollars per share) $ (0.12) $ (0.10) $ 0.51 $ (4.75)
AVERAGE NUMBER OF SHARES (IN THOUSANDS) Ìý Ìý Ìý Ìý
Basic 206.3 153.2 186.5 153.2
Diluted 206.3 153.2 188.5 153.2
CASH DIVIDENDS DECLARED PER DEPOSITARY SHARE (in dollars per share) $ 0.00 $ 0.88 $ 0.00 $ 1.32