NOTE 19 - EARNINGS PER SHARE
The following table summarizes the computation of basic and diluted earnings per share attributable to Cliffs shareholders:
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Ìý |
(In Millions, Except Per Share Amounts) |
Ìý |
Ìý |
Year Ended December 31, |
Ìý |
Ìý |
2016 |
Ìý |
2015 |
Ìý |
2014 |
Income from Continuing Operations |
Ìý |
$ |
219.2 |
|
Ìý |
$ |
143.7 |
|
Ìý |
$ |
56.4 |
|
Income from Continuing Operations Attributable to
Noncontrolling Interest |
Ìý |
(25.2 |
) |
Ìý |
(8.6 |
) |
Ìý |
(25.9 |
) |
Net Income from Continuing Operations
attributable to Cliffs shareholders |
Ìý |
$ |
194.0 |
|
Ìý |
$ |
135.1 |
|
Ìý |
$ |
30.5 |
|
Loss from Discontinued Operations, net of tax |
Ìý |
(19.9 |
) |
Ìý |
(884.4 |
) |
Ìý |
(7,254.7 |
) |
NET INCOME (LOSS) ATTRIBUTABLE TO CLIFFS SHAREHOLDERS |
Ìý |
$ |
174.1 |
|
Ìý |
$ |
(749.3 |
) |
Ìý |
$ |
(7,224.2 |
) |
PREFERRED STOCK DIVIDENDS |
Ìý |
— |
|
Ìý |
(38.4 |
) |
Ìý |
(51.2 |
) |
NET INCOME (LOSS) ATTRIBUTABLE TO CLIFFS COMMON SHAREHOLDERS |
Ìý |
$ |
174.1 |
|
Ìý |
$ |
(787.7 |
) |
Ìý |
$ |
(7,275.4 |
) |
Weighted Average Number of Shares: |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Basic |
Ìý |
197.7 |
|
Ìý |
153.2 |
|
Ìý |
153.1 |
|
Employee Stock Plans |
Ìý |
2.4 |
|
Ìý |
0.4 |
|
Ìý |
— |
|
Diluted |
Ìý |
200.1 |
|
Ìý |
153.6 |
|
Ìý |
153.1 |
|
Earnings (loss) per Common Share Attributable to
Cliffs Common Shareholders - Basic: |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Continuing operations |
Ìý |
$ |
0.98 |
|
Ìý |
$ |
0.63 |
|
Ìý |
$ |
(0.14 |
) |
Discontinued operations |
Ìý |
(0.10 |
) |
Ìý |
(5.77 |
) |
Ìý |
(47.38 |
) |
Ìý |
Ìý |
$ |
0.88 |
|
Ìý |
$ |
(5.14 |
) |
Ìý |
$ |
(47.52 |
) |
Earnings (loss) per Common Share Attributable to
Cliffs Common Shareholders - Diluted: |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Continuing operations |
Ìý |
$ |
0.97 |
|
Ìý |
$ |
0.63 |
|
Ìý |
$ |
(0.14 |
) |
Discontinued operations |
Ìý |
(0.10 |
) |
Ìý |
(5.76 |
) |
Ìý |
(47.38 |
) |
Ìý |
Ìý |
$ |
0.87 |
|
Ìý |
$ |
(5.13 |
) |
Ìý |
$ |
(47.52 |
) |
The diluted earnings per share calculation excludes 25.3 million and 25.2 million depositary shares that were anti-dilutive for the year ended DecemberÌý31, 2015 and 2014, respectively. Additionally, the diluted earnings per share calculation also excludes 0.7 million of equity plan awards that were anti-dilutive for the year ended December 31, 2014.
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