Cleveland-Cliffs Inc. Annual report pursuant to Section 13 and 15(d)

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2011


	(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