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Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

v2.4.0.8
EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 2014
Earnings Per Share [Abstract] Ìý
EARNINGS PER SHARE
NOTE 17 - 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
2014
Ìý
2013
Ìý
2014
Ìý
2013
NET INCOME (LOSS) ATTRIBUTABLE TO CLIFFS SHAREHOLDERS
$
10.9

Ìý
$
146.0

Ìý
$
(59.4
)
Ìý
$
253.0

PREFERRED STOCK DIVIDENDS
(12.8
)
Ìý
(12.9
)
Ìý
(25.6
)
Ìý
(22.8
)
NET INCOME (LOSS) ATTRIBUTABLE TO CLIFFS COMMON SHAREHOLDERS
$
(1.9
)
Ìý
$
133.1

Ìý
$
(85.0
)
Ìý
$
230.2

Weighted Average Number of Shares:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Basic
153.1

Ìý
153.0

Ìý
153.1

Ìý
150.4

Depositary Shares
—

Ìý
25.2

Ìý
—

Ìý
19.1

Employee Stock Plans
—

Ìý
0.2

Ìý
—

Ìý
0.2

Diluted
153.1

Ìý
178.4

Ìý
153.1

Ìý
169.7

Earnings (Loss) per Common Share Attributable to
Cliffs Common Shareholders - Basic:
$
(0.01
)
Ìý
$
0.87

Ìý
$
(0.56
)
Ìý
$
1.53

Earnings (Loss) per Common Share Attributable to
Cliffs Common Shareholders - Diluted:
$
(0.01
)
Ìý
$
0.82

Ìý
$
(0.56
)
Ìý
$
1.49


The diluted earnings per share calculation excludes 25.2 million depositary shares that were anti-dilutive for the three and six months ended June 30, 2014. Additionally, the diluted earnings per share calculation excludes 0.8 million shares related to equity plan awards that were anti-dilutive for both the three and six months ended June 30, 2014.