NOTE 22 - QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)
The sum of quarterly EPS may not equal EPS for the year due to discrete quarterly calculations.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ìý |
(In Millions, Except Per Share Amounts) |
2017 |
Quarters |
Ìý |
Ìý |
First |
Ìý |
Second |
Ìý |
Third |
Ìý |
Fourth |
Ìý |
Year |
Revenues from product sales and services |
$ |
461.6 |
|
Ìý |
$ |
569.3 |
|
Ìý |
$ |
698.4 |
|
Ìý |
$ |
600.9 |
|
Ìý |
$ |
2,330.2 |
|
Sales margin |
95.7 |
|
Ìý |
145.1 |
|
Ìý |
160.2 |
|
Ìý |
100.7 |
|
Ìý |
501.7 |
|
Income (Loss) from Continuing Operations |
$ |
(30.3 |
) |
Ìý |
$ |
76.5 |
|
Ìý |
$ |
20.6 |
|
Ìý |
$ |
315.0 |
|
Ìý |
$ |
381.8 |
|
Loss from Continuing Operations attributable to Noncontrolling Interest |
1.7 |
|
Ìý |
1.7 |
|
Ìý |
0.5 |
|
Ìý |
— |
|
Ìý |
3.9 |
|
Net Income (Loss) from Continuing Operations attributable to Cliffs shareholders |
(28.6 |
) |
Ìý |
78.2 |
|
Ìý |
21.1 |
|
Ìý |
315.0 |
|
Ìý |
385.7 |
|
Income (Loss) from Discontinued Operations, net of tax |
0.5 |
|
Ìý |
(46.4 |
) |
Ìý |
32.3 |
|
Ìý |
(5.1 |
) |
Ìý |
(18.7 |
) |
NET INCOME (LOSS) ATTRIBUTABLE TO CLIFFS SHAREHOLDERS |
$ |
(28.1 |
) |
Ìý |
$ |
31.8 |
|
Ìý |
$ |
53.4 |
|
Ìý |
$ |
309.9 |
|
Ìý |
$ |
367.0 |
|
Earnings (Loss) per Common Share Attributable to
Cliffs Common Shareholders - Basic: |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Continuing Operations |
$ |
(0.11 |
) |
Ìý |
$ |
0.26 |
|
Ìý |
$ |
0.07 |
|
Ìý |
$ |
1.06 |
|
Ìý |
$ |
1.34 |
|
Discontinued Operations |
— |
|
Ìý |
(0.16 |
) |
Ìý |
0.11 |
|
Ìý |
(0.02 |
) |
Ìý |
(0.06 |
) |
Ìý |
$ |
(0.11 |
) |
Ìý |
$ |
0.10 |
|
Ìý |
$ |
0.18 |
|
Ìý |
$ |
1.04 |
|
Ìý |
$ |
1.28 |
|
Earnings (Loss) per Common Share Attributable to
Cliffs Common Shareholders - Diluted: |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Continuing Operations |
$ |
(0.11 |
) |
Ìý |
$ |
0.26 |
|
Ìý |
$ |
0.07 |
|
Ìý |
$ |
1.05 |
|
Ìý |
$ |
1.32 |
|
Discontinued Operations |
— |
|
Ìý |
(0.15 |
) |
Ìý |
0.11 |
|
Ìý |
(0.02 |
) |
Ìý |
(0.06 |
) |
Ìý |
$ |
(0.11 |
) |
Ìý |
$ |
0.11 |
|
Ìý |
$ |
0.18 |
|
Ìý |
$ |
1.03 |
|
Ìý |
$ |
1.26 |
|
The diluted earnings per share calculation for the first quarter of 2017 excludes equity plan awards of 4.6 million that were anti-dilutive. There was no anti-dilution in the second, third or fourth quarter of 2017.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ìý |
(In Millions, Except Per Share Amounts) |
Ìý |
2016 |
Quarters |
Ìý |
Ìý |
First |
Ìý |
Second |
Ìý |
Third |
Ìý |
Fourth |
Ìý |
Year |
Revenues from product sales and services |
$ |
305.5 |
|
Ìý |
$ |
496.2 |
|
Ìý |
$ |
553.3 |
|
Ìý |
$ |
754.0 |
|
Ìý |
$ |
2,109.0 |
|
Sales margin |
30.9 |
|
Ìý |
91.5 |
|
Ìý |
85.4 |
|
Ìý |
181.5 |
|
Ìý |
389.3 |
|
Income (Loss) from Continuing Operations |
$ |
114.3 |
|
Ìý |
$ |
29.9 |
|
Ìý |
$ |
(25.1 |
) |
Ìý |
$ |
100.1 |
|
Ìý |
$ |
219.2 |
|
Loss (Income) from Continuing Operations attributable to Noncontrolling Interest |
(8.8 |
) |
Ìý |
(16.7 |
) |
Ìý |
2.0 |
|
Ìý |
(1.7 |
) |
Ìý |
(25.2 |
) |
Net Income (Loss) from Continuing Operations attributable to Cliffs shareholders |
$ |
105.5 |
|
Ìý |
$ |
13.2 |
|
Ìý |
$ |
(23.1 |
) |
Ìý |
$ |
98.4 |
|
Ìý |
$ |
194.0 |
|
Income (Loss) from Discontinued Operations, net of tax |
2.5 |
|
Ìý |
(0.4 |
) |
Ìý |
(2.7 |
) |
Ìý |
(19.3 |
) |
Ìý |
(19.9 |
) |
NET INCOME (LOSS) ATTRIBUTABLE TO CLIFFS COMMON SHAREHOLDERS |
$ |
108.0 |
|
Ìý |
$ |
12.8 |
|
Ìý |
$ |
(25.8 |
) |
Ìý |
$ |
79.1 |
|
Ìý |
$ |
174.1 |
|
Earnings (Loss) per Common Share Attributable to
Cliffs Common Shareholders - Basic: |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Continuing Operations |
$ |
0.61 |
|
Ìý |
$ |
0.07 |
|
Ìý |
$ |
(0.11 |
) |
Ìý |
$ |
0.43 |
|
Ìý |
$ |
0.98 |
|
Discontinued Operations |
0.01 |
|
Ìý |
— |
|
Ìý |
(0.01 |
) |
Ìý |
(0.08 |
) |
Ìý |
(0.10 |
) |
Ìý |
$ |
0.62 |
|
Ìý |
$ |
0.07 |
|
Ìý |
$ |
(0.12 |
) |
Ìý |
$ |
0.35 |
|
Ìý |
$ |
0.88 |
|
Earnings (Loss) per Common Share Attributable to
Cliffs Common Shareholders - Diluted: |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Ìý |
Continuing Operations |
$ |
0.61 |
|
Ìý |
$ |
0.07 |
|
Ìý |
$ |
(0.11 |
) |
Ìý |
$ |
0.42 |
|
Ìý |
$ |
0.97 |
|
Discontinued Operations |
0.01 |
|
Ìý |
— |
|
Ìý |
(0.01 |
) |
Ìý |
(0.08 |
) |
Ìý |
(0.10 |
) |
Ìý |
$ |
0.62 |
|
Ìý |
$ |
0.07 |
|
Ìý |
$ |
(0.12 |
) |
Ìý |
$ |
0.34 |
|
Ìý |
$ |
0.87 |
|
The diluted earnings per share calculation for the third quarter of 2016 excludes equity plan awards of 3.0 million that were anti-dilutive. There was no anti-dilution in the first, second or fourth quarter of 2016.
|