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Annual report pursuant to Section 13 and 15(d)

EARNINGS PER SHARE (Tables)

v3.10.0.1
EARNINGS PER SHARE (Tables)
 12 Months Ended
Dec. 31, 2018
Earnings Per Share [Abstract] Ìý
Earnings Per Share Computation
The following table summarizes the computation of basic and diluted earnings per share:
Ìý
(In Millions, Except Per Share Amounts)
Ìý
Year Ended
December 31,
Ìý
2018
Ìý
2017
Ìý
2016
Income from continuing operations
$
1,039.9

Ìý
$
360.6

Ìý
$
122.6

Loss (income) from continuing operations attributable to
noncontrolling interest
—

Ìý
3.9

Ìý
(25.2
)
Net income from continuing operations
attributable to Cliffs shareholders
$
1,039.9

Ìý
$
364.5

Ìý
$
97.4

Income from discontinued operations, net of tax
88.2

Ìý
2.5

Ìý
76.7

Net income attributable to Cliffs shareholders
$
1,128.1

Ìý
$
367.0

Ìý
$
174.1

Weighted average number of shares:
Ìý
Ìý
Ìý
Ìý
Ìý
Basic
297.2

Ìý
288.4

Ìý
197.7

$316.25 million 1.50% 2025 Convertible Senior Notes
3.4

Ìý
—

Ìý
—

Employee stock plans
3.5

Ìý
4.6

Ìý
2.4

Diluted
304.1

Ìý
293.0

Ìý
200.1

Earnings per common share attributable to
Cliffs common shareholders - basic:
Ìý
Ìý
Ìý
Ìý
Ìý
Continuing operations
$
3.50

Ìý
$
1.27

Ìý
$
0.49

Discontinued operations
0.30

Ìý
0.01

Ìý
0.39

Ìý
$
3.80

Ìý
$
1.28

Ìý
$
0.88

Earnings per common share attributable to
Cliffs common shareholders - diluted:
Ìý
Ìý
Ìý
Ìý
Ìý
Continuing operations
$
3.42

Ìý
$
1.25

Ìý
$
0.49

Discontinued operations
0.29

Ìý
0.01

Ìý
0.38

Ìý
$
3.71

Ìý
$
1.26

Ìý
$
0.87