Quarterly report pursuant to Section 13 or 15(d)

Statements Of Condensed Consolidated Operations

v2.4.0.6
Statements Of Condensed Consolidated Operations (USD $)
In Millions, except Share data in Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
REVENUES FROM PRODUCT SALES AND SERVICES    
Product $ 1,200.9 $ 1,133.0
Freight and venture partners' cost reimbursements 63.8 50.2
TOTAL REVENUES 1,264.7 1,183.2
COST OF GOODS SOLD AND OPERATING EXPENSES (961.2) (583.7)
SALES MARGIN 303.5 599.5
OTHER OPERATING INCOME (EXPENSE)    
Selling, general and administrative expenses (63.0) (50.6)
Exploration costs (18.8) (10.6)
Miscellaneous - net 9.4 3.8
TOTAL OTHER OPERATING INCOME (EXPENSE) (72.4) (57.4)
OPERATING INCOME 231.1 542.1
OTHER INCOME (EXPENSE)    
Changes in fair value of foreign currency contracts, net 0.3 56.3
Interest income 2.0 2.5
Interest expense (47.3) (38.4)
Other non-operating income 1.5 0.5
TOTAL OTHER INCOME (EXPENSE) (43.5) 20.9
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND EQUITY INCOME (LOSS) FROM VENTURES 187.6 563.0
INCOME TAX BENEFIT (EXPENSE) 210.8 (142.2)
EQUITY INCOME (LOSS) FROM VENTURES (6.9) 3.0
INCOME FROM CONTINUING OPERATIONS 391.5 423.8
LOSS FROM DISCONTINUED OPERATIONS, net of tax (0.1) (0.4)
NET INCOME 391.4 423.4
LESS: INCOME ATTRIBUTABLE TO NONCONTROLLING INTEREST 15.6  
NET INCOME ATTRIBUTABLE TO CLIFFS SHAREHOLDERS $ 375.8 $ 423.4
EARNINGS PER COMMON SHARE ATTRIBUTABLE TO CLIFFS SHAREHOLDERS - BASIC    
Income (Loss) from Continuing Operations, Per Basic Share $ 2.64 $ 3.12
Earnings per common share attributable to Cliffs shareholders - Basic $ 2.64 $ 3.12
EARNINGS PER COMMON SHARE ATTRIBUTABLE TO CLIFFS SHAREHOLDERS - DILUTED    
Income (Loss) from Continuing Operations, Per Diluted Share $ 2.63 $ 3.11
Earnings per common share attributable to Cliffs shareholders - Diluted $ 2.63 $ 3.11
AVERAGE NUMBER OF SHARES (IN THOUSANDS)    
Basic 142,226 135,486
Diluted 142,709 136,191
CASH DIVIDENDS DECLARED PER SHARE $ 0.28 $ 0.14