Quarterly report pursuant to Section 13 or 15(d)

Statements Of Condensed Consolidated Operations

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Statements Of Condensed Consolidated Operations (USD $)
In Millions, except Share data in Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
REVENUES FROM PRODUCT SALES AND SERVICES        
Product $ 1,391.6 $ 1,500.0 $ 2,474.2 $ 2,648.5
Freight and venture partners' cost reimbursements 96.9 79.4 154.8 143.2
TOTAL REVENUES 1,488.5 1,579.4 2,629.0 2,791.7
COST OF GOODS SOLD AND OPERATING EXPENSES (1,220.3) (1,136.0) (2,122.9) (2,056.5)
SALES MARGIN 268.2 443.4 506.1 735.2
OTHER OPERATING INCOME (EXPENSE)        
Selling, general and administrative expenses (48.9) (80.8) (97.3) (140.4)
Exploration costs (12.6) (29.1) (35.3) (47.9)
Miscellaneous - net 55.3 28.4 56.8 38.0
Other operating expense (6.2) (81.5) (75.8) (150.3)
OPERATING INCOME 262.0 361.9 430.3 584.9
OTHER INCOME (EXPENSE)        
Interest expense, net (40.7) (45.3) (89.8) (90.4)
Other non-operating expense (2.8) (2.2) (1.7) (0.4)
TOTAL OTHER INCOME (EXPENSE) (43.5) (47.5) (91.5) (90.8)
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND EQUITY LOSS FROM VENTURES 218.5 314.4 338.8 494.1
INCOME TAX BENEFIT (EXPENSE) (9.3) (41.9) (3.3) 171.2
EQUITY LOSS FROM VENTURES, net of tax (67.9) (0.5) (73.4) (7.4)
INCOME FROM CONTINUING OPERATIONS 141.3 272.0 262.1 657.9
INCOME FROM DISCONTINUED OPERATIONS, net of tax 0 2.3 0 7.8
NET INCOME 141.3 274.3 262.1 665.7
LOSS (INCOME) ATTRIBUTABLE TO NONCONTROLLING INTEREST 4.7 (16.3) (9.1) (31.9)
NET INCOME ATTRIBUTABLE TO CLIFFS SHAREHOLDERS 146.0 258.0 253.0 633.8
PREFERRED STOCK DIVIDENDS (12.9) 0 (22.8) 0
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 133.1 $ 258.0 $ 230.2 $ 633.8
EARNINGS PER COMMON SHARE ATTRIBUTABLE TO CLIFFS SHAREHOLDERS - BASIC        
Continuing operations $ 0.87 $ 1.79 $ 1.53 $ 4.40
Discontinued operations $ 0.00 $ 0.02 $ 0.00 $ 0.05
Earnings per Common Share Attributable to Cliffs Shareholders - Basic: $ 0.87 $ 1.81 $ 1.53 $ 4.45
EARNINGS PER COMMON SHARE ATTRIBUTABLE TO CLIFFS SHAREHOLDERS - DILUTED        
Continuing operations $ 0.82 $ 1.79 $ 1.49 $ 4.39
Discontinued operations $ 0.00 $ 0.02 $ 0.00 $ 0.05
Earnings per Common Share Attributable to Cliffs Shareholders - Diluted: $ 0.82 $ 1.81 $ 1.49 $ 4.44
AVERAGE NUMBER OF SHARES (IN THOUSANDS)        
Basic 153,011 142,380 150,418 142,303
Diluted 178,428 142,814 169,708 142,762
CASH DIVIDENDS DECLARED PER DEPOSITARY SHARE $ 0.44 $ 0.00 $ 0.78 $ 0.00
CASH DIVIDENDS DECLARED PER COMMON SHARE $ 0.15 $ 0.63 $ 0.30 $ 0.91