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Quarterly report pursuant to Section 13 or 15(d)

Statements Of Condensed Consolidated Operations

v3.3.0.814
Statements Of Condensed Consolidated Operations - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
REVENUES FROM PRODUCT SALES AND SERVICES Ìý Ìý Ìý Ìý
Product $ 542.5 $ 901.9 $ 1,399.9 $ 2,161.7
Freight and venture partners' cost reimbursements 50.7 77.8 137.4 181.2
TOTAL REVENUES 593.2 979.7 1,537.3 2,342.9
COST OF GOODS SOLD AND OPERATING EXPENSES (538.1) (723.5) (1,344.1) (1,713.2)
SALES MARGIN 55.1 256.2 193.2 629.7
OTHER OPERATING INCOME (EXPENSE) Ìý Ìý Ìý Ìý
Selling, general and administrative expenses (22.4) (49.7) (82.2) (131.1)
Impairment of goodwill and other long-lived assets 0.0 (377.0) (3.3) (378.6)
Miscellaneous - net (3.5) 27.7 19.1 15.7
Other operating expense (25.9) (399.0) (66.4) (494.0)
OPERATING INCOME (EXPENSE) 29.2 (142.8) 126.8 135.7
OTHER INCOME (EXPENSE) Ìý Ìý Ìý Ìý
Interest expense, net (61.7) (45.8) (168.2) (128.3)
Gain on extinguishment of debt 79.2 0.0 392.9 0.0
Other non-operating income (expense) (0.1) 7.7 (3.0) 10.1
TOTAL OTHER INCOME (EXPENSE) 17.4 (38.1) 221.7 (118.2)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND EQUITY LOSS FROM VENTURES 46.6 (180.9) 348.5 17.5
INCOME TAX BENEFIT (EXPENSE) 3.4 (84.1) (169.9) (121.3)
EQUITY LOSS FROM VENTURES, NET OF TAX (0.1) (9.2) (0.1) (9.8)
INCOME (LOSS) FROM CONTINUING OPERATIONS 49.9 (274.2) 178.5 (113.6)
LOSS FROM DISCONTINUED OPERATIONS, NET OF TAX (43.9) (6,613.0) (869.0) (6,829.8)
NET INCOME (LOSS) 6.0 (6,887.2) (690.5) (6,943.4)
LOSS ATTRIBUTABLE TO NONCONTROLLING INTEREST (Three Months Ended September 30, 2015 - No loss related to Discontinued Operations, Nine Months Ended September 30, 2015 - Loss of $7.7 million related to Discontinued Operations, Three and Nine Months Ended September 30, 2014 - Loss of $1,010.1 million and $1,026.8 million, respectively, related to Discontinued Operations) 4.6 1,007.6 1.5 1,004.4
NET INCOME (LOSS) ATTRIBUTABLE TO CLIFFS SHAREHOLDERS 10.6 (5,879.6) (689.0) (5,939.0)
PREFERRED STOCK DIVIDENDS (25.6) (12.8) (38.4) (38.4)
NET LOSS ATTRIBUTABLE TO CLIFFS COMMON SHAREHOLDERS $ (15.0) $ (5,892.4) $ (727.4) $ (5,977.4)
Earnings (Loss) Per Common Share Attributable to Cliffs Shareholders - Basic Ìý Ìý Ìý Ìý
Continuing operations $ 0.19 $ (1.89) $ 0.87 $ (1.14)
Discontinued operations (0.29) (36.60) (5.62) (37.91)
Earnings (Loss) per Common Share Attributable to Cliffs Common Shareholders - Basic: (0.10) (38.49) (4.75) (39.05)
Earnings (Loss) Per Common Share Attributable to Cliffs Shareholders - Diluted Ìý Ìý Ìý Ìý
Continuing operations 0.19 (1.89) 0.87 (1.14)
Discontinued operations (0.29) (36.60) (5.62) (37.91)
Earnings (Loss) per Common Share Attributable to Cliffs Common Shareholders - Diluted: $ (0.10) $ (38.49) $ (4.75) $ (39.05)
Weighted Average Number of Shares Outstanding Reconciliation [Abstract] Ìý Ìý Ìý Ìý
Basic 153,237 153,108 153,213 153,085
Diluted 153,237 153,108 153,213 153,085
CASH DIVIDENDS DECLARED PER DEPOSITARY SHARE $ 0.88 $ 0.44 $ 1.32 $ 1.32
CASH DIVIDENDS DECLARED PER COMMON SHARE $ 0.00 $ 0.15 $ 0.00 $ 0.45