Annual report pursuant to Section 13 and 15(d)

EARNINGS PER SHARE (Tables)

v3.10.0.1
EARNINGS PER SHARE (Tables)
 12 Months Ended
Dec. 31, 2018
Earnings Per Share [Abstract]  
Earnings Per Share Computation
The following table summarizes the computation of basic and diluted earnings per share:
 
(In Millions, Except Per Share Amounts)
 
Year Ended
December 31,
 
2018
 
2017
 
2016
Income from continuing operations
$
1,039.9

 
$
360.6

 
$
122.6

Loss (income) from continuing operations attributable to
noncontrolling interest
—

 
3.9

 
(25.2
)
Net income from continuing operations
attributable to Cliffs shareholders
$
1,039.9

 
$
364.5

 
$
97.4

Income from discontinued operations, net of tax
88.2

 
2.5

 
76.7

Net income attributable to Cliffs shareholders
$
1,128.1

 
$
367.0

 
$
174.1

Weighted average number of shares:
 
 
 
 
 
Basic
297.2

 
288.4

 
197.7

$316.25 million 1.50% 2025 Convertible Senior Notes
3.4

 
—

 
—

Employee stock plans
3.5

 
4.6

 
2.4

Diluted
304.1

 
293.0

 
200.1

Earnings per common share attributable to
Cliffs common shareholders - basic:
 
 
 
 
 
Continuing operations
$
3.50

 
$
1.27

 
$
0.49

Discontinued operations
0.30

 
0.01

 
0.39

 
$
3.80

 
$
1.28

 
$
0.88

Earnings per common share attributable to
Cliffs common shareholders - diluted:
 
 
 
 
 
Continuing operations
$
3.42

 
$
1.25

 
$
0.49

Discontinued operations
0.29

 
0.01

 
0.38

 
$
3.71

 
$
1.26

 
$
0.87