Quarterly report pursuant to Section 13 or 15(d)

Statements Of Unaudited Condensed Consolidated Operations

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Statements Of Unaudited Condensed Consolidated Operations - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2018
Jun. 30, 2018
Mar. 31, 2018
Sep. 30, 2017
Jun. 30, 2017
Mar. 31, 2017
Sep. 30, 2018
Sep. 30, 2017
REVENUES FROM PRODUCT SALES AND SERVICES                
Revenue from Contract with Customer, Including Assessed Tax $ 684.7     $ 530.7     $ 1,525.9 $ 1,195.0
Freight and venture partners' cost reimbursements 57.1     66.0     110.2 159.2
TOTAL REVENUES 741.8     596.7     1,636.1 1,354.2
COST OF GOODS SOLD AND OPERATING EXPENSES (480.2)     (438.9)     (1,028.5) (1,002.7)
SALES MARGIN 261.6     157.8     607.6 351.5
OTHER OPERATING INCOME (EXPENSE)                
Selling, general and administrative expenses (30.1)     (23.8)     (81.4) (75.5)
Miscellaneous - net (6.0)     (5.3)     (16.2) 1.3
Other operating expense 36.1     29.1     97.6 74.2
OPERATING INCOME 225.5     128.7     510.0 277.3
OTHER INCOME (EXPENSE)                
Interest expense, net (29.5)     (27.6)     (93.1) (99.1)
Gain (loss) on extinguishment of debt 0.0     (88.6)     0.2 (165.4)
Other non-operating income 4.3     2.6     13.1 7.6
TOTAL OTHER INCOME (EXPENSE) (25.2)     (113.6)     (79.8) (256.9)
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 200.3     15.1     430.2 20.4
INCOME TAX BENEFIT (EXPENSE) (0.5)     7.2     (14.4) 7.2
INCOME FROM CONTINUING OPERATIONS 199.8     22.3     415.8 27.6
INCOME FROM DISCONTINUED OPERATIONS, NET OF TAX 238.0     30.6     102.8 25.6
NET INCOME 437.8 $ 165.1 $ (84.3) 52.9 $ 30.1 $ (29.8) 518.6 53.2
LOSS ATTRIBUTABLE TO NONCONTROLLING INTEREST 0.0     0.5     0.0 3.9
NET INCOME ATTRIBUTABLE TO CLIFFS SHAREHOLDERS $ 437.8     $ 53.4     $ 518.6 $ 57.1
INCOME PER COMMON SHARE ATTRIBUTABLE TO CLIFFS SHAREHOLDERS – BASIC                
Continuing operations (in dollars per share) $ 0.67     $ 0.08     $ 1.40 $ 0.11
Discontinued operations (in dollars per share) 0.80     0.10     0.35 0.09
Earnings (Loss) per Common Share Attributable to Cliffs Common Shareholders - Basic (in dollars per share) 1.47     0.18     1.75 0.20
INCOME PER COMMON SHARE ATTRIBUTABLE TO CLIFFS SHAREHOLDERS – DILUTED                
Continuing operations (in dollars per share) 0.64     0.08     1.37 0.11
Discontinued operations (in dollars per share) 0.77     0.10     0.34 0.08
Earnings (Loss) per Common Share Attributable to Cliffs Common Shareholders - Diluted (in dollars per share) $ 1.41     $ 0.18     $ 1.71 $ 0.19
AVERAGE NUMBER OF SHARES (IN THOUSANDS)                
Basic 297,878     296,100     297,587 285,771
Diluted 310,203     301,100     303,518 290,512