Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

v3.5.0.2
EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 2016
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
NOTE 19 - EARNINGS PER SHARE
The following table summarizes the computation of basic and diluted earnings (loss) per share:
 
(In Millions, Except Per Share Amounts)
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2016
 
2015
 
2016
 
2015
Income (Loss) from Continuing Operations
$
29.9

 
$
(38.2
)
 
$
144.2

 
$
128.6

Income from Continuing Operations Attributable to Noncontrolling Interest
(16.7
)
 
(5.0
)
 
(25.5
)
 
(3.1
)
Net Income (Loss) from Continuing Operations Attributable to Cliffs Shareholders
$
13.2

 
$
(43.2
)
 
$
118.7

 
$
125.5

Income (Loss) from Discontinued Operations, net of tax
(0.4
)
 
103.4

 
2.1

 
(825.1
)
Net Income (Loss) Attributable to Cliffs Shareholders
$
12.8

 
$
60.2

 
$
120.8

 
$
(699.6
)
Preferred Stock Dividends
—

 
—

 
—

 
(12.8
)
Net Income (Loss) Attributable to Cliffs Common Shareholders
$
12.8

 
$
60.2

 
$
120.8

 
$
(712.4
)
Weighted Average Number of Shares:
 
 
 
 
 
 
 
Basic
182.3

 
153.2

 
177.0

 
153.2

Depositary Shares
—

 
—

 
—

 
25.2

Employee Stock Plans
2.3

 
—

 
1.3

 
0.3

Diluted
184.6

 
153.2

 
178.3

 
178.7

Earnings (Loss) per Common Share Attributable to
Cliffs Common Shareholders - Basic:
 
 
 
 
 
 
 
Continuing operations
$
0.07

 
$
(0.28
)
 
$
0.67

 
$
0.74

Discontinued operations
—

 
0.67

 
0.01

 
(5.39
)
 
$
0.07

 
$
0.39

 
$
0.68

 
$
(4.65
)
Earnings (Loss) per Common Share Attributable to
Cliffs Common Shareholders - Diluted:
 
 
 
 
 
 
 
Continuing operations
$
0.07

 
$
(0.28
)
 
$
0.67

 
$
0.70

Discontinued operations
—

 
0.67

 
0.01

 
(4.62
)
 
$
0.07

 
$
0.39

 
$
0.68

 
$
(3.92
)