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Quarterly report pursuant to Section 13 or 15(d)

Statements Of Condensed Consolidated Operations

v3.8.0.1
Statements Of Condensed Consolidated Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
REVENUES FROM PRODUCT SALES AND SERVICES Ìý Ìý Ìý Ìý
Product $ 627.5 $ 508.6 $ 1,552.3 $ 1,237.0
Freight and venture partners' cost reimbursements 70.9 44.7 177.0 118.0
TOTAL REVENUES 698.4 553.3 1,729.3 1,355.0
COST OF GOODS SOLD AND OPERATING EXPENSES (538.2) (467.9) (1,328.3) (1,147.2)
SALES MARGIN 160.2 85.4 401.0 207.8
OTHER OPERATING INCOME (EXPENSE) Ìý Ìý Ìý Ìý
Selling, general and administrative expenses (24.6) (31.1) (77.8) (81.8)
Miscellaneous - net (5.9) (19.6) 3.0 (16.9)
Other operating expense (30.5) (50.7) (74.8) (98.7)
OPERATING INCOME 129.7 34.7 326.2 109.1
OTHER INCOME (EXPENSE) Ìý Ìý Ìý Ìý
Interest expense, net (28.9) (48.7) (103.1) (156.2)
Gain (loss) on extinguishment/restructuring of debt (88.6) (18.3) (165.4) 164.1
Other non-operating income 0.8 0.1 2.3 0.4
TOTAL OTHER INCOME (EXPENSE) (116.7) (66.9) (266.2) 8.3
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 13.0 (32.2) 60.0 117.4
INCOME TAX BENEFIT 7.6 7.1 6.8 1.7
INCOME (LOSS) FROM CONTINUING OPERATIONS 20.6 (25.1) 66.8 119.1
INCOME (LOSS) FROM DISCONTINUED OPERATIONS, NET OF TAX 32.3 (2.7) (13.6) (0.6)
NET INCOME (LOSS) 52.9 (27.8) 53.2 118.5
LOSS (INCOME) ATTRIBUTABLE TO NONCONTROLLING INTEREST 0.5 2.0 3.9 (23.5)
NET INCOME (LOSS) ATTRIBUTABLE TO CLIFFS SHAREHOLDERS $ 53.4 $ (25.8) $ 57.1 $ 95.0
EARNINGS (LOSS) PER COMMON SHARE ATTRIBUTABLE TO CLIFFS SHAREHOLDERS - BASIC Ìý Ìý Ìý Ìý
Continuing operations (in dollars per share) $ 0.07 $ (0.11) $ 0.25 $ 0.51
Discontinued operations (in dollars per share) 0.11 (0.01) (0.05) 0.00
Earnings (Loss) per Common Share Attributable to Cliffs Common Shareholders - Basic (in dollars per share) 0.18 (0.12) 0.20 0.51
EARNINGS (LOSS) PER COMMON SHARE ATTRIBUTABLE TO CLIFFS SHAREHOLDERS - DILUTED Ìý Ìý Ìý Ìý
Continuing operations (in dollars per share) 0.07 (0.11) 0.24 0.51
Discontinued operations (in dollars per share) 0.11 (0.01) (0.05) 0.00
Earnings (Loss) per Common Share Attributable to Cliffs Common Shareholders - Diluted (in dollars per share) $ 0.18 $ (0.12) $ 0.19 $ 0.51
AVERAGE NUMBER OF SHARES (IN THOUSANDS) Ìý Ìý Ìý Ìý
Basic 296.1 206.3 285.8 186.5
Diluted 301.1 206.3 290.5 188.5