Annual report pursuant to Section 13 and 15(d)

EARNINGS PER SHARE (Tables)

v3.6.0.2
EARNINGS PER SHARE (Tables)
 12 Months Ended
Dec. 31, 2016
Earnings Per Share [Abstract]  
Earnings Per Share Computation
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,
 
 
2016
 
2015
 
2014
Income from Continuing Operations
 
$
219.2

 
$
143.7

 
$
56.4

Income from Continuing Operations Attributable to
Noncontrolling Interest
 
(25.2
)
 
(8.6
)
 
(25.9
)
Net Income from Continuing Operations
attributable to Cliffs shareholders
 
$
194.0

 
$
135.1

 
$
30.5

Loss from Discontinued Operations, net of tax
 
(19.9
)
 
(884.4
)
 
(7,254.7
)
NET INCOME (LOSS) ATTRIBUTABLE TO CLIFFS SHAREHOLDERS
 
$
174.1

 
$
(749.3
)
 
$
(7,224.2
)
PREFERRED STOCK DIVIDENDS
 
—

 
(38.4
)
 
(51.2
)
NET INCOME (LOSS) ATTRIBUTABLE TO CLIFFS COMMON SHAREHOLDERS
 
$
174.1

 
$
(787.7
)
 
$
(7,275.4
)
Weighted Average Number of Shares:
 
 
 
 
 
 
Basic
 
197.7

 
153.2

 
153.1

Employee Stock Plans
 
2.4

 
0.4

 
—

Diluted
 
200.1

 
153.6

 
153.1

Earnings (loss) per Common Share Attributable to
Cliffs Common Shareholders - Basic:
 
 
 
 
 
 
Continuing operations
 
$
0.98

 
$
0.63

 
$
(0.14
)
Discontinued operations
 
(0.10
)
 
(5.77
)
 
(47.38
)
 
 
$
0.88

 
$
(5.14
)
 
$
(47.52
)
Earnings (loss) per Common Share Attributable to
Cliffs Common Shareholders - Diluted:
 
 
 
 
 
 
Continuing operations
 
$
0.97

 
$
0.63

 
$
(0.14
)
Discontinued operations
 
(0.10
)
 
(5.76
)
 
(47.38
)
 
 
$
0.87

 
$
(5.13
)
 
$
(47.52
)

The diluted earnings per share calculation excludes 25.3 million and 25.2 million depositary shares that were anti-dilutive for the year ended December 31, 2015 and 2014, respectively. Additionally, the diluted earnings per share calculation also excludes 0.7 million of equity plan awards that were anti-dilutive for the year ended December 31, 2014.