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Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

v3.5.0.2
EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 2016
Earnings Per Share [Abstract] Ìý
EARNINGS PER SHARE
NOTE 19 - EARNINGS PER SHARE
The following table summarizes the computation of basic and diluted earnings (loss) per share:
Ìý
(In Millions, Except Per Share Amounts)
Ìý
Three Months Ended
June 30,
Ìý
Six Months Ended
June 30,
Ìý
2016
Ìý
2015
Ìý
2016
Ìý
2015
Income (Loss) from Continuing Operations
$
29.9

Ìý
$
(38.2
)
Ìý
$
144.2

Ìý
$
128.6

Income from Continuing Operations Attributable to Noncontrolling Interest
(16.7
)
Ìý
(5.0
)
Ìý
(25.5
)
Ìý
(3.1
)
Net Income (Loss) from Continuing Operations Attributable to Cliffs Shareholders
$
13.2

Ìý
$
(43.2
)
Ìý
$
118.7

Ìý
$
125.5

Income (Loss) from Discontinued Operations, net of tax
(0.4
)
Ìý
103.4

Ìý
2.1

Ìý
(825.1
)
Net Income (Loss) Attributable to Cliffs Shareholders
$
12.8

Ìý
$
60.2

Ìý
$
120.8

Ìý
$
(699.6
)
Preferred Stock Dividends
—

Ìý
—

Ìý
—

Ìý
(12.8
)
Net Income (Loss) Attributable to Cliffs Common Shareholders
$
12.8

Ìý
$
60.2

Ìý
$
120.8

Ìý
$
(712.4
)
Weighted Average Number of Shares:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Basic
182.3

Ìý
153.2

Ìý
177.0

Ìý
153.2

Depositary Shares
—

Ìý
—

Ìý
—

Ìý
25.2

Employee Stock Plans
2.3

Ìý
—

Ìý
1.3

Ìý
0.3

Diluted
184.6

Ìý
153.2

Ìý
178.3

Ìý
178.7

Earnings (Loss) per Common Share Attributable to
Cliffs Common Shareholders - Basic:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Continuing operations
$
0.07

Ìý
$
(0.28
)
Ìý
$
0.67

Ìý
$
0.74

Discontinued operations
—

Ìý
0.67

Ìý
0.01

Ìý
(5.39
)
Ìý
$
0.07

Ìý
$
0.39

Ìý
$
0.68

Ìý
$
(4.65
)
Earnings (Loss) per Common Share Attributable to
Cliffs Common Shareholders - Diluted:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Continuing operations
$
0.07

Ìý
$
(0.28
)
Ìý
$
0.67

Ìý
$
0.70

Discontinued operations
—

Ìý
0.67

Ìý
0.01

Ìý
(4.62
)
Ìý
$
0.07

Ìý
$
0.39

Ìý
$
0.68

Ìý
$
(3.92
)