NOTE 19 - EARNINGS PER SHARE
The following table summarizes the computation of basic and diluted earnings per share attributable to Cliffs shareholders:
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(In Millions, Except Per Share Amounts) |
|
Year Ended December 31, |
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2015 |
|
2014 |
|
2013 |
Income from Continuing Operations |
$ |
143.7 |
|
|
$ |
56.4 |
|
|
$ |
878.9 |
|
Income from Continuing Operations Attributable to
Noncontrolling Interest |
(8.6 |
) |
|
(25.9 |
) |
|
(14.8 |
) |
Net Income from Continuing Operations
attributable to Cliffs shareholders |
$ |
135.1 |
|
|
$ |
30.5 |
|
|
$ |
864.1 |
|
Loss from Discontinued Operations, net of tax |
(884.4 |
) |
|
(7,254.7 |
) |
|
(450.6 |
) |
NET INCOME (LOSS) ATTRIBUTABLE TO CLIFFS SHAREHOLDERS |
$ |
(749.3 |
) |
|
$ |
(7,224.2 |
) |
|
$ |
413.5 |
|
PREFERRED STOCK DIVIDENDS |
(38.4 |
) |
|
(51.2 |
) |
|
(48.7 |
) |
NET INCOME (LOSS) ATTRIBUTABLE TO CLIFFS COMMON SHAREHOLDERS |
$ |
(787.7 |
) |
|
$ |
(7,275.4 |
) |
|
$ |
364.8 |
|
Weighted Average Number of Shares: |
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|
Basic |
153.2 |
|
|
153.1 |
|
|
151.7 |
|
Depositary Shares |
— |
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|
— |
|
|
22.1 |
|
Employee Stock Plans |
0.4 |
|
|
— |
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|
0.5 |
|
Diluted |
153.6 |
|
|
153.1 |
|
|
174.3 |
|
Earnings (loss) per Common Share Attributable to
Cliffs Common Shareholders - Basic: |
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|
|
|
|
Continuing operations |
$ |
0.63 |
|
|
$ |
(0.14 |
) |
|
$ |
5.37 |
|
Discontinued operations |
(5.77 |
) |
|
(47.38 |
) |
|
(2.97 |
) |
|
$ |
(5.14 |
) |
|
$ |
(47.52 |
) |
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$ |
2.40 |
|
Earnings (loss) per Common Share Attributable to
Cliffs Common Shareholders - Diluted: |
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|
|
|
|
Continuing operations |
$ |
0.63 |
|
|
$ |
(0.14 |
) |
|
$ |
4.95 |
|
Discontinued operations |
(5.76 |
) |
|
(47.38 |
) |
|
(2.58 |
) |
|
$ |
(5.13 |
) |
|
$ |
(47.52 |
) |
|
$ |
2.37 |
|
The diluted earnings per share calculation excludes 25.3 million and 25.2 million depositary shares that were anti-dilutive for the years ended December 31, 2015 and 2014, respectively. Additionally, the year ended December 31, 2014 diluted earnings per share calculation also excludes 0.7 million of equity plan awards. There was no anti-dilution for the year ended December 31, 2013.
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