Quarterly report pursuant to Section 13 or 15(d)

Statements Of Condensed Consolidated Operations

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Statements Of Condensed Consolidated Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
REVENUES FROM PRODUCT SALES AND SERVICES        
Product $ 512.0 $ 452.8 $ 924.8 $ 728.4
Freight and venture partners' cost reimbursements 57.3 43.4 106.1 73.3
TOTAL REVENUES 569.3 496.2 1,030.9 801.7
COST OF GOODS SOLD AND OPERATING EXPENSES (424.2) (404.7) (790.1) (679.3)
SALES MARGIN 145.1 91.5 240.8 122.4
OTHER OPERATING INCOME (EXPENSE)        
Selling, general and administrative expenses (27.5) (22.5) (53.2) (50.7)
Miscellaneous - net (3.0) 5.7 8.9 2.7
Other operating expense (30.5) (16.8) (44.3) (48.0)
OPERATING INCOME 114.6 74.7 196.5 74.4
OTHER INCOME (EXPENSE)        
Interest expense, net (31.4) (50.7) (74.2) (107.5)
Gain (loss) on extinguishment/restructuring of debt (4.9) 3.6 (76.8) 182.4
Other non-operating income 0.8 0.2 1.5 0.3
TOTAL OTHER INCOME (EXPENSE) (35.5) (46.9) (149.5) 75.2
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 79.1 27.8 47.0 149.6
INCOME TAX BENEFIT (EXPENSE) (2.6) 2.1 (0.8) (5.4)
INCOME FROM CONTINUING OPERATIONS 76.5 29.9 46.2 144.2
INCOME (LOSS) FROM DISCONTINUED OPERATIONS, NET OF TAX (46.4) (0.4) (45.9) 2.1
NET INCOME 30.1 29.5 0.3 146.3
LOSS (INCOME) ATTRIBUTABLE TO NONCONTROLLING INTEREST 1.7 (16.7) 3.4 (25.5)
NET INCOME (LOSS) ATTRIBUTABLE TO CLIFFS SHAREHOLDERS $ 31.8 $ 12.8 $ 3.7 $ 120.8
EARNINGS (LOSS) PER COMMON SHARE ATTRIBUTABLE TO CLIFFS SHAREHOLDERS - BASIC        
Continuing operations (in dollars per share) $ 0.26 $ 0.07 $ 0.18 $ 0.67
Discontinued operations (in dollars per share) (0.16) 0.00 (0.16) 0.01
Earnings (Loss) per Common Share Attributable to Cliffs Common Shareholders - Basic (in dollars per share) 0.10 0.07 0.02 0.68
EARNINGS (LOSS) PER COMMON SHARE ATTRIBUTABLE TO CLIFFS SHAREHOLDERS - DILUTED        
Continuing operations (in dollars per share) 0.26 0.07 0.17 0.67
Discontinued operations (in dollars per share) (0.15) 0.00 (0.16) 0.01
Earnings (Loss) per Common Share Attributable to Cliffs Common Shareholders - Diluted (in dollars per share) $ 0.11 $ 0.07 $ 0.01 $ 0.68
AVERAGE NUMBER OF SHARES (IN THOUSANDS)        
Basic 296.1 182.3 280.6 177.0
Diluted 300.7 184.6 285.2 178.3