Annual report pursuant to Section 13 and 15(d)

Earnings Per Share

v2.4.0.6
Earnings Per Share
12 Months Ended
Dec. 31, 2011
Earnings Per Share [Abstract]  
Earnings Per Share

NOTE 15 — EARNINGS PER SHARE

The following table summarizes the computation of basic and diluted earnings per share attributable to Cliffs shareholders:

 

     (In Millions)  
     Year Ended December 31,  
     2011     2010     2009  

Net income from continuing operations attributable to Cliffs shareholders

   $ 1,637.6      $ 1,023.0      $ 208.5   

Loss from discontinued operations

     (18.5     (3.1     (3.4
  

 

 

   

 

 

   

 

 

 

Net income attributable to Cliffs shareholders

   $ 1,619.1      $ 1,019.9      $ 205.1   
  

 

 

   

 

 

   

 

 

 

Weighted average number of shares:

      

Basic

     140.2        135.3        125.0   

Employee stock plans

     0.8        0.8        0.8   
  

 

 

   

 

 

   

 

 

 

Diluted

     141.0        136.1        125.8   
  

 

 

   

 

 

   

 

 

 

Earnings per common share attributable to Cliffs shareholders — Basic:

      

Continuing operations

   $ 11.68      $ 7.56      $ 1.67   

Discontinued operations

     (0.13     (0.02     (0.03
  

 

 

   

 

 

   

 

 

 
   $ 11.55      $ 7.54      $ 1.64   
  

 

 

   

 

 

   

 

 

 

Earnings per common share attributable to Cliffs shareholders — Diluted:

      

Continuing operations

   $ 11.61      $ 7.51      $ 1.66   

Discontinued operations

     (0.13     (0.02     (0.03
  

 

 

   

 

 

   

 

 

 
   $ 11.48      $ 7.49      $ 1.63