Annual report pursuant to Section 13 and 15(d)

EARNINGS PER SHARE

v2.4.1.9
EARNINGS PER SHARE
 12 Months Ended
Dec. 31, 2014
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
NOTE 19 - EARNINGS PER SHARE
The following table summarizes the computation of basic and diluted earnings per share attributable to Cliffs shareholders:
 
(In Millions, Except Per Share Amounts)
 
Year Ended December 31,
 
2014
 
2013
 
2012
Net Income (Loss) from Continuing Operations
attributable to Cliffs shareholders
$
(7,224.2
)
 
$
411.5

 
$
(935.3
)
Income (Loss) and Gain on Sale from Discontinued
    Operations, net of tax
—

 
2.0

 
35.9

NET INCOME (LOSS) ATTRIBUTABLE TO CLIFFS SHAREHOLDERS
$
(7,224.2
)
 
$
413.5

 
$
(899.4
)
PREFERRED STOCK DIVIDENDS
(51.2
)
 
(48.7
)
 
—

NET INCOME (LOSS) ATTRIBUTABLE TO CLIFFS COMMON SHAREHOLDERS
$
(7,275.4
)
 
$
364.8

 
$
(899.4
)
Weighted Average Number of Shares:
 
 
 
 
 
Basic
153.1

 
151.7

 
142.4

Depositary Shares
—

 
0.5

 
—

Employee Stock Plans
—

 
22.1

 
—

Diluted
153.1

 
174.3

 
142.4

Earnings (loss) per Common Share Attributable to
Cliffs Common Shareholders - Basic:
 
 
 
 
 
Continuing operations
$
(47.52
)
 
$
2.39

 
$
(6.57
)
Discontinued operations
—

 
0.01

 
0.25

 
$
(47.52
)
 
$
2.40

 
$
(6.32
)
Earnings (loss) per Common Share Attributable to
Cliffs Common Shareholders - Diluted:
 
 
 
 
 
Continuing operations
$
(47.52
)
 
$
2.36

 
$
(6.57
)
Discontinued operations
—

 
0.01

 
0.25

 
$
(47.52
)
 
$
2.37

 
$
(6.32
)

The diluted earnings per share calculation excludes 25.2 million depositary shares that were anti-dilutive for the year ended December 31, 2014. Additionally, the diluted earnings per share calculation excludes 0.7 million shares for the year ended December 31, 2014 related to equity plan awards that were anti-dilutive. There was no anti-dilution for the year ended December 31, 2013. For the year ended December 31, 2012, the diluted earnings per share calculation excludes 0.5 million shares related to equity plan awards that were anti-dilutive.