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Quarterly report pursuant to Section 13 or 15(d)

Statements Of Unaudited Condensed Consolidated Operations

v3.10.0.1
Statements Of Unaudited Condensed Consolidated Operations - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
REVENUES FROM PRODUCT SALES AND SERVICES Ìý Ìý Ìý Ìý
Product $ 672.0 $ 417.0 $ 841.2 $ 664.3
Freight and venture partners' cost reimbursements 42.3 54.3 53.1 93.2
TOTAL REVENUES 714.3 471.3 894.3 757.5
COST OF GOODS SOLD AND OPERATING EXPENSES (429.8) (326.6) (548.3) (563.8)
SALES MARGIN 284.5 144.7 346.0 193.7
OTHER OPERATING INCOME (EXPENSE) Ìý Ìý Ìý Ìý
Selling, general and administrative expenses (26.2) (26.6) (51.3) (51.7)
Miscellaneous - net (4.1) (2.9) (10.2) 6.6
Other operating expense (30.3) (29.5) (61.5) (45.1)
OPERATING INCOME 254.2 115.2 284.5 148.6
OTHER INCOME (EXPENSE) Ìý Ìý Ìý Ìý
Interest expense, net (31.2) (30.1) (63.6) (71.5)
Gain (loss) on extinguishment of debt 0.2 (4.9) 0.2 (76.8)
Other non-operating income 4.4 2.5 8.8 5.0
TOTAL OTHER INCOME (EXPENSE) (26.6) (32.5) (54.6) (143.3)
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 227.6 82.7 229.9 5.3
INCOME TAX BENEFIT (EXPENSE) 1.8 1.1 (13.9) 0.0
INCOME FROM CONTINUING OPERATIONS 229.4 83.8 216.0 5.3
LOSS FROM DISCONTINUED OPERATIONS, NET OF TAX (64.3) (53.7) (135.2) (5.0)
NET INCOME 165.1 30.1 80.8 0.3
LOSS ATTRIBUTABLE TO NONCONTROLLING INTEREST 0.0 1.7 0.0 3.4
NET INCOME ATTRIBUTABLE TO CLIFFS SHAREHOLDERS $ 165.1 $ 31.8 $ 80.8 $ 3.7
INCOME (LOSS) PER COMMON SHARE ATTRIBUTABLE TO CLIFFS SHAREHOLDERS – BASIC Ìý Ìý Ìý Ìý
Continuing operations (in dollars per share) $ 0.77 $ 0.28 $ 0.73 $ 0.03
Discontinued operations (in dollars per share) (0.22) (0.18) (0.46) (0.01)
Earnings (Loss) per Common Share Attributable to Cliffs Common Shareholders - Basic (in dollars per share) 0.55 0.10 0.27 0.02
INCOME (LOSS) PER COMMON SHARE ATTRIBUTABLE TO CLIFFS SHAREHOLDERS – DILUTED Ìý Ìý Ìý Ìý
Continuing operations (in dollars per share) 0.76 0.28 0.72 0.03
Discontinued operations (in dollars per share) (0.21) (0.18) (0.45) (0.02)
Earnings (Loss) per Common Share Attributable to Cliffs Common Shareholders - Diluted (in dollars per share) $ 0.55 $ 0.10 $ 0.27 $ 0.01
AVERAGE NUMBER OF SHARES (IN THOUSANDS) Ìý Ìý Ìý Ìý
Basic 297,618 296,100 297,442 280,617
Diluted 301,275 300,700 301,143 285,247