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Quarterly report pursuant to Section 13 or 15(d)

Statements Of Condensed Consolidated Operations

v3.5.0.2
Statements Of Condensed Consolidated Operations - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
REVENUES FROM PRODUCT SALES AND SERVICES Ìý Ìý Ìý Ìý
Product $ 452.8 $ 454.3 $ 728.4 $ 857.4
Freight and venture partners' cost reimbursements 43.4 43.8 73.3 86.7
TOTAL REVENUES 496.2 498.1 801.7 944.1
COST OF GOODS SOLD AND OPERATING EXPENSES (404.7) (440.8) (679.3) (806.0)
SALES MARGIN 91.5 57.3 122.4 138.1
OTHER OPERATING INCOME (EXPENSE) Ìý Ìý Ìý Ìý
Selling, general and administrative expenses (22.5) (30.8) (50.7) (59.8)
Miscellaneous - net 5.7 (0.8) 2.7 19.3
Other operating expense (16.8) (31.6) (48.0) (40.5)
OPERATING INCOME 74.7 25.7 74.4 97.6
OTHER INCOME (EXPENSE) Ìý Ìý Ìý Ìý
Interest expense, net (50.7) (63.6) (107.5) (106.5)
Gain on extinguishment/restructuring of debt 3.6 0.0 182.4 313.7
Other non-operating income (expense) 0.2 (2.1) 0.3 (2.9)
TOTAL OTHER INCOME (EXPENSE) (46.9) (65.7) 75.2 204.3
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 27.8 (40.0) 149.6 301.9
INCOME TAX BENEFIT (EXPENSE) 2.1 1.8 (5.4) (173.3)
INCOME (LOSS) FROM CONTINUING OPERATIONS 29.9 (38.2) 144.2 128.6
INCOME (LOSS) FROM DISCONTINUED OPERATIONS, NET OF TAX (0.4) 103.4 2.1 (825.1)
NET INCOME (LOSS) 29.5 65.2 146.3 (696.5)
INCOME ATTRIBUTABLE TO NONCONTROLLING INTEREST (16.7) (5.0) (25.5) (3.1)
NET INCOME (LOSS) ATTRIBUTABLE TO CLIFFS SHAREHOLDERS 12.8 60.2 120.8 (699.6)
PREFERRED STOCK DIVIDENDS 0.0 0.0 0.0 (12.8)
NET INCOME (LOSS) ATTRIBUTABLE TO CLIFFS COMMON SHAREHOLDERS $ 12.8 $ 60.2 $ 120.8 $ (712.4)
EARNINGS (LOSS) PER COMMON SHARE ATTRIBUTABLE TO CLIFFS SHAREHOLDERS - BASIC Ìý Ìý Ìý Ìý
Continuing operations (in dollars per share) $ 0.07 $ (0.28) $ 0.67 $ 0.74
Discontinued operations (in dollars per share) 0.00 0.67 0.01 (5.39)
Earnings (Loss) per Common Share Attributable to Cliffs Common Shareholders - Basic (in dollars per share) 0.07 0.39 0.68 (4.65)
EARNINGS (LOSS) PER COMMON SHARE ATTRIBUTABLE TO CLIFFS SHAREHOLDERS - DILUTED Ìý Ìý Ìý Ìý
Continuing operations (in dollars per share) 0.07 (0.28) 0.67 0.70
Discontinued operations (in dollars per share) 0.00 0.67 0.01 (4.62)
Earnings (Loss) per Common Share Attributable to Cliffs Common Shareholders - Diluted (in dollars per share) $ 0.07 $ 0.39 $ 0.68 $ (3.92)
AVERAGE NUMBER OF SHARES (IN THOUSANDS) Ìý Ìý Ìý Ìý
Basic 182,330 153,232 177,003 153,203
Diluted 184,557 153,232 178,305 178,685
CASH DIVIDENDS DECLARED PER DEPOSITARY SHARE (in dollars per share) $ 0.00 $ 0.00 $ 0.00 $ 0.44