Annual report pursuant to Section 13 and 15(d)

Earnings Per Share

v2.4.0.6
Earnings Per Share
 12 Months Ended
Dec. 31, 2011
Earnings Per Share [Abstract]  
Earnings Per Share

NOTE 15 — EARNINGS PER SHARE

The following table summarizes the computation of basic and diluted earnings per share attributable to Cliffs shareholders:

 

     (In Millions)  
     Year Ended December 31,  
     2011     2010     2009  

Net income from continuing operations attributable to Cliffs shareholders

    $ 1,637.6      $ 1,023.0      $ 208.5   

Loss from discontinued operations

      (18.5 )      (3.1 )      (3.4 ) 
  

 

 

    

 

 

    

 

 

  

Net income attributable to Cliffs shareholders

    $ 1,619.1      $ 1,019.9      $ 205.1   
  

 

 

    

 

 

    

 

 

  

Weighted average number of shares:

       

Basic

      140.2        135.3        125.0   

Employee stock plans

      0.8        0.8        0.8   
  

 

 

    

 

 

    

 

 

  

Diluted

      141.0        136.1        125.8   
  

 

 

    

 

 

    

 

 

  

Earnings per common share attributable to Cliffs shareholders — Basic:

       

Continuing operations

    $ 11.68      $ 7.56      $ 1.67   

Discontinued operations

      (0.13 )      (0.02 )      (0.03 ) 
  

 

 

    

 

 

    

 

 

  
   $ 11.55      $ 7.54      $ 1.64   
  

 

 

    

 

 

    

 

 

  

Earnings per common share attributable to Cliffs shareholders — Diluted:

       

Continuing operations

    $ 11.61      $ 7.51      $ 1.66   

Discontinued operations

      (0.13 )      (0.02 )      (0.03 ) 
  

 

 

    

 

 

    

 

 

  
   $ 11.48      $ 7.49      $ 1.63