NOTE 17 - EARNINGS PER SHARE
The following table summarizes the computation of basic and diluted earnings (loss) per share:
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(In Millions, Except Per Share Amounts) |
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Three Months Ended
September 30, |
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Nine Months Ended
September 30, |
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2017 |
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2016 |
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2017 |
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2016 |
Income (Loss) from Continuing Operations |
$ |
20.6 |
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$ |
(25.1 |
) |
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$ |
66.8 |
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$ |
119.1 |
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Loss (Income) from Continuing Operations Attributable to Noncontrolling Interest |
0.5 |
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2.0 |
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3.9 |
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(23.5 |
) |
Net Income (Loss) from Continuing Operations Attributable to Cliffs Shareholders |
$ |
21.1 |
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$ |
(23.1 |
) |
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$ |
70.7 |
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$ |
95.6 |
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Income (Loss) from Discontinued Operations, net of tax |
32.3 |
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(2.7 |
) |
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(13.6 |
) |
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(0.6 |
) |
Net Income (Loss) Attributable to Cliffs Shareholders |
$ |
53.4 |
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$ |
(25.8 |
) |
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$ |
57.1 |
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$ |
95.0 |
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Weighted Average Number of Shares: |
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Basic |
296.1 |
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206.3 |
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285.8 |
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186.5 |
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Employee Stock Plans |
5.0 |
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— |
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4.7 |
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2.0 |
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Diluted |
301.1 |
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206.3 |
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290.5 |
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188.5 |
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Earnings (Loss) per Common Share Attributable to
Cliffs Common Shareholders - Basic: |
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Continuing operations |
$ |
0.07 |
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$ |
(0.11 |
) |
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$ |
0.25 |
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$ |
0.51 |
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Discontinued operations |
0.11 |
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(0.01 |
) |
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(0.05 |
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— |
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$ |
0.18 |
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$ |
(0.12 |
) |
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$ |
0.20 |
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$ |
0.51 |
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Earnings (Loss) per Common Share Attributable to
Cliffs Common Shareholders - Diluted: |
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Continuing operations |
$ |
0.07 |
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$ |
(0.11 |
) |
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$ |
0.24 |
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$ |
0.51 |
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Discontinued operations |
0.11 |
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(0.01 |
) |
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(0.05 |
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— |
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$ |
0.18 |
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$ |
(0.12 |
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$ |
0.19 |
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$ |
0.51 |
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The diluted earnings per share calculation excludes 3.0 million shares for the three months ended September 30, 2016 related to equity plan awards that would have been anti-dilutive.
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