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Quarterly report pursuant to Section 13 or 15(d)

Statements Of Condensed Consolidated Operations

v2.4.0.8
Statements Of Condensed Consolidated Operations (USD $)
In Millions, except Share data in Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
REVENUES FROM PRODUCT SALES AND SERVICES Ìý Ìý Ìý Ìý
Product $ 1,018.6 $ 1,391.6 $ 1,879.5 $ 2,474.2
Freight and venture partners' cost reimbursements 82.2 96.9 161.3 154.8
TOTAL REVENUES 1,100.8 1,488.5 2,040.8 2,629.0
COST OF GOODS SOLD AND OPERATING EXPENSES (1,008.8) (1,220.3) (1,885.6) (2,122.9)
SALES MARGIN 92.0 268.2 155.2 506.1
OTHER OPERATING INCOME (EXPENSE) Ìý Ìý Ìý Ìý
Selling, general and administrative expenses (52.5) (48.9) (103.6) (97.3)
Exploration costs (3.4) (12.6) (7.6) (35.3)
Miscellaneous - net (47.8) 55.3 (106.4) 56.8
Other operating expense (103.7) (6.2) (217.6) (75.8)
OPERATING INCOME (EXPENSE) (11.7) 262.0 (62.4) 430.3
OTHER INCOME (EXPENSE) Ìý Ìý Ìý Ìý
Interest expense, net (44.8) (40.7) (87.5) (89.8)
Other non-operating income 2.2 (2.8) 3.4 (1.7)
TOTAL OTHER EXPENSE (42.6) (43.5) (84.1) (91.5)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND EQUITY LOSS FROM VENTURES (54.3) 218.5 (146.5) 338.8
INCOME TAX BENEFIT (EXPENSE) 69.1 (9.3) 90.9 (3.3)
EQUITY LOSS FROM VENTURES, net of tax (0.3) (67.9) (0.6) (73.4)
NET INCOME (LOSS) 14.5 141.3 (56.2) 262.1
LOSS (INCOME) ATTRIBUTABLE TO NONCONTROLLING INTEREST (3.6) 4.7 (3.2) (9.1)
NET INCOME (LOSS) ATTRIBUTABLE TO CLIFFS SHAREHOLDERS 10.9 146.0 (59.4) 253.0
PREFERRED STOCK DIVIDENDS (12.8) (12.9) (25.6) (22.8)
NET INCOME (LOSS) ATTRIBUTABLE TO CLIFFS COMMON SHAREHOLDERS $ (1.9) $ 133.1 $ (85.0) $ 230.2
Earnings (Loss) per Common Share Attributable to Cliffs Common Shareholders - Basic: $ (0.01) $ 0.87 $ (0.56) $ 1.53
Earnings (Loss) per Common Share Attributable to Cliffs Common Shareholders - Diluted: $ (0.01) $ 0.82 $ (0.56) $ 1.49
AVERAGE NUMBER OF SHARES (IN THOUSANDS) Ìý Ìý Ìý Ìý
Basic 153,087 153,011 153,064 150,418
Diluted 153,087 178,428 153,064 169,708
CASH DIVIDENDS DECLARED PER DEPOSITARY SHARE $ 0.44 $ 0.44 $ 0.88 $ 0.78
CASH DIVIDENDS DECLARED PER COMMON SHARE $ 0.15 $ 0.15 $ 0.30 $ 0.30