Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

v2.4.0.8
EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 2014
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
NOTE 17 - EARNINGS PER SHARE
The following table summarizes the computation of basic and diluted earnings (loss) per share:
 
(In Millions, Except Per Share Amounts)
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2014
 
2013
 
2014
 
2013
NET INCOME (LOSS) ATTRIBUTABLE TO CLIFFS SHAREHOLDERS
$
10.9

 
$
146.0

 
$
(59.4
)
 
$
253.0

PREFERRED STOCK DIVIDENDS
(12.8
)
 
(12.9
)
 
(25.6
)
 
(22.8
)
NET INCOME (LOSS) ATTRIBUTABLE TO CLIFFS COMMON SHAREHOLDERS
$
(1.9
)
 
$
133.1

 
$
(85.0
)
 
$
230.2

Weighted Average Number of Shares:
 
 
 
 
 
 
 
Basic
153.1

 
153.0

 
153.1

 
150.4

Depositary Shares
—

 
25.2

 
—

 
19.1

Employee Stock Plans
—

 
0.2

 
—

 
0.2

Diluted
153.1

 
178.4

 
153.1

 
169.7

Earnings (Loss) per Common Share Attributable to
Cliffs Common Shareholders - Basic:
$
(0.01
)
 
$
0.87

 
$
(0.56
)
 
$
1.53

Earnings (Loss) per Common Share Attributable to
Cliffs Common Shareholders - Diluted:
$
(0.01
)
 
$
0.82

 
$
(0.56
)
 
$
1.49


The diluted earnings per share calculation excludes 25.2 million depositary shares that were anti-dilutive for the three and six months ended June 30, 2014. Additionally, the diluted earnings per share calculation excludes 0.8 million shares related to equity plan awards that were anti-dilutive for both the three and six months ended June 30, 2014.