STATEMENT OF CONSOLIDATED SHAREHOLDERS' EQUITY Exhibit 13(f) Cleveland-Cliffs Inc and Consolidated Subsidiaries
(In Millions) --------------------------------------------------------------------------------------- Capital In Excess of Common Common Par Value Retained Shares in Comprehensive Shares Of Shares Income Treasury Other Total Income ------ ---------- -------- --------- ----- ----- ------------- Balance December 31, 1995 $16.8 $65.2 $386.1 $(123.8) $(1.7) $342.6 Comprehensive income Net income 61.0 61.0 $61.0 Other comprehensive income (loss) Unrealized (losses) on securities (1.1) Foreign currency translation adj. (.2) ----- Total (1.3) (1.3) (1.3) ----- Comprehensive income $59.7 ===== Cash dividends - $1.30 a share (15.1) (15.1) Stock plans Restricted stock/stock options .4 .8 (1.1) .1 Performance shares 3.2 (.4) 2.8 Repurchases of Common Shares (19.5) (19.5) ----- ----- ------ ------- ----- ------ Balance December 31, 1996 16.8 68.8 432.0 (142.5) (4.5) 370.6 Comprehensive income Net income 54.9 54.9 $54.9 Other comprehensive income (loss) Unrealized (losses) on securities (1.0) Foreign currency translation adj. (.1) ----- Total (1.1) (1.1) (1.1) ----- Comprehensive income $53.8 ===== Cash dividends - $1.30 a share (14.8) (14.8) Stock plans Restricted stock/stock options .2 .4 (.5) .1 Performance shares .8 .7 1.0 2.5 Repurchases of Common Shares (4.9) (4.9) Other .1 .1 ----- ----- ------ ------- ----- ------ Balance December 31, 1997 16.8 69.8 472.1 (146.2) (5.1) 407.4 Comprehensive income Net income 57.4 57.4 $57.4 Other comprehensive income (loss) Unrealized (losses) on securities (2.3) ----- Total (2.3) (2.3) (2.3) ----- Comprehensive income $55.1 ===== Cash dividends - $1.45 a share (16.3) (16.3) Stock plans Restricted stock/stock options .3 .6 .2 1.1 Performance shares .7 1.1 (.2) 1.6 Repurchases of Common Shares (11.5) (11.5) Other .1 .1 .2 ----- ----- ------ ------- ----- ------ Balance December 31, 1998 $16.8 $70.9 $513.2 $(155.9) $(7.4) $437.6 ===== ===== ====== ======= ===== ======
See notes to consolidated financial statements. 42