Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

v2.4.0.8
EARNINGS PER SHARE
 9 Months Ended
Sep. 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
September 30,
 
Nine Months Ended
September 30,
 
2014
 
2013
 
2014
 
2013
Net Income (Loss) from Continuing Operations Attributable to Cliffs Shareholders
$
(5,879.6
)
 
$
115.2

 
$
(5,939.0
)
 
$
368.2

Income from Discontinued Operations, net of tax
—

 
2.0

 
—

 
2.0

Net Income (Loss) Attributable to Cliffs Shareholders
$
(5,879.6
)
 
$
117.2

 
$
(5,939.0
)
 
$
370.2

Preferred Stock Dividends
(12.8
)
 
(12.9
)
 
(38.4
)
 
(35.9
)
Net Income (Loss) Attributable to Cliffs Common Shareholders
$
(5,892.4
)
 
$
104.3

 
$
(5,977.4
)
 
$
334.3

Weighted Average Number of Shares:
 
 
 
 
 
 
 
Basic
153.1

 
153.0

 
153.1

 
151.3

Depositary Shares
—

 
25.2

 
—

 
21.1

Employee Stock Plans
—

 
0.2

 
—

 
0.2

Diluted
153.1

 
178.4

 
153.1

 
172.6

Earnings (Loss) per Common Share Attributable to
Cliffs Common Shareholders - Basic:
 
 
 
 
 
 
 
Continuing operations
$
(38.49
)
 
$
0.67

 
$
(39.05
)
 
$
2.20

Discontinued operations
—

 
0.01

 
—

 
0.01

 
$
(38.49
)
 
$
0.68

 
$
(39.05
)
 
$
2.21

Earnings (Loss) per Common Share Attributable to
Cliffs Common Shareholders - Diluted:
 
 
 
 
 
 
 
Continuing operations
$
(38.49
)
 
$
0.65

 
$
(39.05
)
 
$
2.13

Discontinued operations
—

 
0.01

 
—

 
0.01

 
$
(38.49
)
 
$
0.66

 
$
(39.05
)
 
$
2.14


The diluted earnings per share calculation excludes 25.2 million depositary shares that were anti-dilutive for both the three and nine months ended September 30, 2014. Additionally, the diluted earnings per share calculation excludes 0.5 million and 0.9 million shares for the three and nine months ended September 30, 2014, respectively, related to equity plan awards that were anti-dilutive.